Cannabis Sector Advances Cautiously - Company's CEO Discusses 1st Quarter Financials
CORAL SPRINGS, Florida, April 14, 2014 /PRNewswire/ --
Marijuana companies aim to move forward after sector stabilizes: The CannaBusiness Group, Inc. (OTC: CBGI), Mentor Capital, Inc. (OTC: MNTR), Tranzbyte Corporation (OTC: ERBB), Alternative Fuels Americas, Inc. (OTC: AFAI) and Nuvilex, Inc. (OTC: NVLX)
The CannaBusiness Group, Inc. (OTC Pink: CBGI), founded in 1985 and headquartered in Irvine, California is a publicly held company vested as a strategic real estate acquisition, leasing, and management firm whose primary focus is on zoning issues. We acquire commercial property or land, and lease out the facilities for Agricultural, Industrial, Commercial and Retail, whether small or large scale clients. Also, CBGI focuses on acquisition of businesses such as wholesale ancillary products and security businesses in the legal medical marijuana industry.
Read the full CBGI press release by going to: http://www.fnmprofiles.com/profiles-cbgi.html
Michael Cummings, CEO of The CannaBusiness Group, Inc. stated, "I am very excited about the 1st quarter financials, I know our revenues numbers are not the level at which I would expect at this point however, with many new clients opening up facilities in new markets daily and our plans to hire more sales staff throughout the country will only increase our year end financials. CBGI is in the growth stage of our company and spending money on advertising, acquiring inventory, attending trade shows and building a strong and viable sales team. We will continue to search for areas to improve within CBGI and continue to increase our revenues as well as profits." The legal medical marijuana industry is among the fastest growing and was one of the most resilient markets since the 2013 market boom, experiencing impressive growth during this entire period. This strong and rapid market growth is forecasted by experts to continue for years to come, due to continued and growing legalization at the State levels. In addition, this industry is expected to exceed $8.2 billion by 2018 according to the most recent forecasts.
Mentor Capital, Inc. (OTC Pink: MNTR) status was recently upgraded by OTC Markets Group to the highest of the three primary OTC Pink Marketplace segments: Current Information. All updated Mentor Capital financials, filings, disclosures and legal opinions through February 28, 2014, are publicly available on the OTC Disclosure & News Service pursuant to its guidelines. This is a first part in the active execution of the company's stated goal to step up to current status, complete audits, voluntarily file a Form 10, move up quickly to the OTCQB and then onto NASDAQ. At each stage along the way, companies historically have experienced greater institutional participation, liquidity, coverage and visibility for shareholders.
The Tranzbyte Corporation (OTC Pink: ERBB) is a driving force behind Altitude Organix, American Green, OneBode, The YO! Debit Card, and BancoLibre. The company expects to continue 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 and decide to become public on their own will agree to carve out shares for Tranzbyte and dividends for their ERBB shareholders. ERBB closed up slightly last Friday at $0.0598 per share on over 79 Million shares traded by the market close. Tranzbyte Corporation recently announced the arrival of American GreenZine (http://www.americangreenzine.com) as the masthead of the network it envisions tying together the industry, from the grower to the consumer, from seed to sale and use.
Alternative Fuels Americas, Inc. (OTCQB: AFAI) recently announced that its subsidiary Marijuana Holdings Americas, Inc. has been granted a provisional license to open a Medical Marijuana Facility (MMF) in Portland, Oregon. MJAI now has until May 20, 2014 to file its security and operational plans, upon which the State issues its certification so the MMF can begin lawful operations as MJAI's first Medical Marijuana Dispensary. "We are pleased that our application has been approved. We plan for this to be the first of many," states CEO Craig Frank. "We have secured our lease and our security system installation and operations manuals are on schedule. We are completing the site improvements and ordering all store fixtures. Our plan is to develop a powerful and appealing brand and provide a friendly and knowledgeable consumer experience, making our MMFs the first choice for all medical marijuana patients in Portland."
Nuvilex, Inc. (OTCQB: NVLX) a clinical-stage international biotechnology company providing cell and gene therapy solutions for the treatment of diseases, recently reported that it has signed a Master Services Agreement with ViruSure GmbH, located in Vienna, Austria, to develop and maintain Master, Working and End of Production Cell Banks. These cell banks are necessary steps in the production of the cells to be encapsulated using the Cell-in-a-Box[(R)]technology for Nuvilex's Phase 2b clinical trials in advanced, inoperable pancreatic cancer to be conducted in Australia. "ViruSure has previous experience in handling the exact cell line that will be used in our Phase 2b clinical trials, which was a major factor in Nuvilex selecting ViruSure for this important step in our preparations for these trials," said Kenneth L. Waggoner, CEO and President of Nuvilex. "This decision was further supported by our on-site inspection of the ViruSure facilities and the excellent historical relationships between ViruSure's key personnel with our partners at Austrianova. ViruSure has years of experience in producing and maintaining cell banks and is an industry leader in this arena."
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