Altitude Organic Positioned for Expansion as Cannabis Industry Grows to 18 States and Washington DC
PHOENIX, Nov. 20, 2012 /PRNewswire/ -- Altitude Organic Corp, a subsidiary of Tranzbyte Corporation (ERBB:OTC:PK), is poised to capture expanded market share as Massachusetts has become the eighteenth state to legalize medical marijuana.
According to Tranzbyte president, David Gwyther, "The time is NOW for Altitude Organic and Tranzbyte. The company does not anticipate or contemplate any type of reverse split or rollback of its common shares in order to accommodate the anticipated Altitude Organic expansion or the Tranzbyte dividend farming model involving future acquisitions and spin-offs."
Beginning operations in Colorado in 2009, Altitude Organics has navigated numerous legal hurdles as the industry's nascent regulations have continued to fluctuate. In 2011, the Altitude Organic San Diego, California licensed dispensary shut down after city officials voted to remove hundreds of legal businesses from within the city limits. Despite unforeseeable regulatory changes at times, Altitude Organic Corp is still standing as only publicly-traded company of its kind to have operated in California, Colorado, and now in Arizona garnering experience in multiple jurisdictions under different cultivating climates.
The legal commercial business is so new, that prior existing technologies and systems will be rendered obsolete as a more commercial approach to the industry is adopted. Our company plans to implement commercial advancements at its existing licensed store locations in Colorado, while expanding and aligning with premier operators nationally. Altitude Organic seeks to manage dispensaries, caregivers, and infused products production in non-profit medical marijuana states such as Arizona, while it seeks outright purchase of retail acquisitions in "for-profit" states like Colorado. Our licensed store model will continue to exist with the two stores in Colorado. All future partnerships will be through management company alliances or acquisition, as capital and opportunities becomes more readily available. Altitude Organic Corporation's first priority for 2013 will be to enhance our company's revenue dramatically.
AO's Managing Director Brian Cook stated, "We have accumulated tremendous knowledge working in the legal marijuana industry over the last three and half years which I believe will put our company in the unique position to find the right partnerships moving forward. This, in turn, will enhance revenue and build our brand recognition in the new industry. Our recently announced managed caregiver model in Arizona will help us "seed" the managed dispensary partners with whom we seek to ally. Despite the different operating rules between states, our proven adaptability and early lead in operations experience, should help us gain market share and set us apart from the pack, as this multi-billion dollar industry continues to grow."
The Tranzbyte Corporation (www.tranzbyte.com/) is a driving force behind Altitude Organic Corporation and ProximaRF. The company continues its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming." Companies that qualify that decide to become public on their own will agree to carve out shares for Tranzbyte and their ERBB shareholders once the spin-out is registered and publicly trading. This year, Tranzbyte acquired ProximaRF – a leading-edge company that produces a line of products supporting leading-edge RFID technology.
Tranzbyte also houses the company's 9-year-old technology division which is actively engaged in the marketing and sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum™ and FlixStix -- technologies that enable distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
ABOUT ALTITUDE ORGANIC CORPORATION
Altitude Organic Corporation (www.altitudeorganicmedicine.com/) provides business support services to independently-owned retail dispensaries and legally licensed caregivers in states that have approved the use of medical cannabis. AOC continues to drive innovation in the industry through its sales and marketing support services, product research and development, point-of-sale and inventory management technologies, Zazzz™ unique retail product lines, and an expanding family of brands designed to meet the ever-growing demand of the burgeoning medical cannabis industry. Visit http://www.altitudeorganicmedicine.com today.
ABOUT PROXIMARF AND APPLIED RFID
Founded in 2006, Applied RFID and its operating subsidiaries (www.proximarf.com), have a versatile and leading-edge portfolio of RFID reader, sensor tag and data logging products based on the ISO 15693 standard of high frequency (13.56Mhz) RFID.
The company has plans to increase its network of global distributors and value-added resellers. With its "Proxima RF" line of RFID readers, sensor tags, sensor probes and data logging products, the Company seeks out opportunities with partners who have a unique software offering within market verticals where the implementation of secure data collection and temperature sensing bring real and immediate ROI to users. These key markets include: food safety, cold chain logistics and healthcare/pharmaceutical as well as factory and field maintenance applications.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Companies and Contacts:
David G. Gwyther, President
14220 N. Northsight Blvd., Suite 139
Scottsdale, Arizona 85260
Mr. Brian Cook, Managing Director
Altitude Organic Corporation
14220 N. Northsight Blvd., Suite 139-A
Scottsdale, AZ 85260
Mr. John T. Martin, Managing Director - Asian Division
Rm 308, 3/F, Kai Tak Commercial Building
317-319 Des Voeux Road Central, Hong Kong (SAR)
Victor J. Elias, President
ProximaRF US Corporate Office:
14220 N. Northsight Blvd., Suite 139-B
Scottsdale, AZ 85260
SOURCE Tranzbyte Corporation