India Globalization Capital, Inc. (NYSE American: IGC) announces that during its Annual Meeting of Shareholders scheduled for, and convened on August 6, 2018, voting on all matters as disclosed on the Definitive Proxy on Form 14A filed with the SEC on July 6, 2018 were passed. Only stockholders of record on the record date of July 5, 2018 were entitled to and were being requested to vote. At the Annual Meeting, the following proposals were approved: (i) the election of Richard Prins to the Company’s board of directors, (ii) the proposal to ratify Manohar Chowdhry & Associates (“MCA”) as the Company’s independent registered public accounting firm for the 2019 fiscal year, and (iii) approval to adjourn the meeting if necessary.
After voting was completed, IGC provided a corporate commentary that is available on the website at www.igcinc.us.
Hyalolex Initiatives / Drops of Clarity Program
Alzheimer’s disease (AD) is a form of dementia. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. AD currently affects more than 5.3 million Americans and over 65% of AD patients are women.
We are pleased to launch our first marketing and branding campaign, titled ‘Drops of Clarity’ in support of Hyalolex, our product whose active ingredients have been shown to be beneficial for patients suffering from tested on Alzheimer’s.
Our program will highlight the potential benefits of Hyalolex as a supplement to authorized cannabis physicians as well as to caregivers and patients via both a digital format and through grassroots outreach. We expect to utilize this methodology, in conjunction with licensing arrangements with manufacturers, to expand our reach into multiple U.S. markets and Canada.
Blockchain Initiatives / Product Labeling, Identification and Origin Assurance
The Company is focused on the development of a QR code-based system that allows patients to access a website with information on our alternative medicine products, specific per state. As the number of states in which the product is available increases, we expect to expand the backend to a blockchain that allows for inputs directly from growers, processors, and dispensaries. This information will collectively display product identification and product origination by providing the patient with information regarding the origin, chemicals, and processes used to manufacture the product. We expect to expand the QR code-based system in several phases over fiscal 2019.
India Globalization Capital, Inc. (”IGC”) has developed a patent-pending cannabis-based combination therapy to treat endpoints of Alzheimer’s including plaques, tangles, anxiety, agitation and other NPS, which it plans to market through Canadian and U.S. medical dispensaries in early 2018. Its pipeline includes cannabis-based medications for end points of Parkinson’s, pain, nausea, eating disorders and epilepsy in cats and dogs. The company is also working on leveraging its expertise to develop blockchain technology based solutions for the cannabis market. IGC has a legacy business based in India, through which it is engaged in infrastructure and commodity trading, and in Malaysia it is engaged in real-estate management. IGC’s registered US office is located in Bethesda, Maryland. The company maintains an R&D center in Washington State and also has a back office in Kochi, Kerala India.
IGC announces intention to develop blockchain solution for cannabis market
On December 26, 2017, IGC announced that it plans to utilize blockchain technology to address industry issues specific to the medical cannabis industry. The company cited areas including product identification assurance (PIA), inadequate product labeling, transactional difficulties, and product origin assurance as areas that it was seeking to address. Clearly, blockchain technology, which uses a continuously growing list of records, called blocks, which are linked and secured using cryptography to manage large databases securely, is an area of high attention given its robust growth and crucial role in cryptocurrencies. We believe the company intends to develop a platform first for Hyaolex’s go-to-market strategy in the dispensary market, with an aim to leverage the platform for the highly regulated and rapidly evolving cannabis industry.
Alzheimer’s Disease (AD) is a form of dementia. It is known as America’s most expensive disease, with an estimated cost to the U.S. economy of $236 billion. AD currently affects more than 5.3 million Americans and over 65% of AD patients are women. Over the next 20 years, the number of those afflicted with the disease is expected to double. The forecast is staggering, considering that to date, no effective cure has been found.
Know more about India Globalization Capital Inc.
The Company has two lines of businesses, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer’s patients. The company is based in Maryland, USA.