DENVER, Feb. 9, 2016 /PRNewswire/ -- Medicine Man Technologies Inc. (OTCQB: MDCL) is pleased to announce that stock held by some of its shareholders as disclosed in its S1 filing and otherwise eligible under rule 144 requirements have cleared the Depository Trust Corporation and are coming into the markets. Initial trading began on Monday, January 25th.
Andy Williams, CEO stated "This achievement represents years of experience coming to fruition. This provides us with a vehicle to expand the Medicine Man brand as we consider other opportunities that may come our way. One of our founding objectives when we established the company in March of 2014 was to become profitable and public within our first two years of operations and we have now achieved both."
Brett Roper, COO commented "We are excited to see our evolution as a business achieve this objective noting we filed our original S1 documents in mid-April of 2015, were cleared by the SEC in early October of 2015, received our FINRA clearance in December of 2015, and secured DTC eligibility in early January of 2016. As one of the few businesses in this unique space having revenues as well as profits, we expect to continue to expand our brand and business elements as we work to grow both our top and bottom lines."
Paul Dickman, CFO added "Working with the Medicine Man Team has been enlightening as well as enjoyable for me in that we have real income and profits that should help drive our valuation as we enter the public market space. I look forward to continued growth and new licensees coming online in 2016!"
The Company's Team recently completed support requiring extensive onsite time for licensure clients in Hawaii as well as Maryland and has successfully worked to assist clients to secure cultivation, production, and dispensary licenses in Colorado, Nevada, and Illinois.
About Medicine Man Technologies
Established in March of 2014, the company secured its first client/licensee in April 2014. To date they have provided guidance for thirty plus licensee clients. Our services focus on working with licensees and clients to 1) utilize our experience, technology, and training to help secure a license, 2) deploy our highly effective variable capacity constant harvest cultivation practices and eliminate the liability of single grower dependence, 3) avoid the costly mistakes generally made in start-up, and 4) stay engaged with an ever expanding team of licensees all focused on quality and safety that will 'share' the ever improving experience and knowledge of the network. We continually strive to learn so that we may continue to remain as one of the top innovators in this space, assisting our clients to build on our team's success.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to general stock market conditions. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC filings. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
SOURCE Medicine Man Technologies Inc.