"As a result of our operational success, we were invited to meet with several of the largest and most prestigious investment banks and funds in the nation," commented CEO of Signal Bay, William Waldrop. "After months of developing our unique hub & spoke model, building out an experienced and scientifically astute team, and developing a portfolio of state-of-the-art cannabis testing facilities, we are proving a business model that is showing month-over-month record sales. Investors seem to be as excited as we are as we are presented with new opportunities for growth and expansion every day."
The self-described "Woodstock" of Microcap, LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually. Marcum and SEG sponsored the significant industry event, and event which will host thousands of investors and 240 small and micro-cap companies.
Signal Bay operates state-of-the-art testing facilities and offers accredited testing methodologies that ensure the safety and potency of the nation's cannabis supply through its EVIO Labs division. As the legalization of medical and recreational marijuana sweeps across the country, demand for reliable, independent cannabis quality control testing facilities is increasing dramatically.
The cannabis testing market in the United States is expected to balloon to $850 million in size by 2020. In California alone, the market is expected to reach $300 million in 2017. Cannabis testing is critical to ensuring that cannabis, whether for medical or recreational use, is safe from pesticides, E. coli, molds, solvents and other toxins and impurities.
Many Cannabis testing labs struggle to survive simply because they lack proper technical expertise. This is not the case for Signal Bay, whose strength comes from its deep bullpen of experienced team members such as Dr. Anthony Smith, a well-respected biochemist and researcher with a PhD in Molecular and Cellular Biology from Oregon State University. The people behind Signal Bay is a critical component of its success, a component that was highlighted in the well-received presentation at last week's LD Micro Conference.
"Lacking the scientific expertise and experience, many labs take up to a year to reach some level of accreditation, but fail to become fully accredited and remain unable to provide the full suite of services required for regulatory compliance," Waldrop continued. "Our technical experience, our well developed methods and procedures, as well as our experience and understanding of the regulatory system, enables us to get our EVIO Labs accredited and fully operational in a matter of months, rather than years."
Waldrop continued, stating that the success of his company and its unique position for accelerated growth could not have been more reflected in the enthusiastic response to their presentation at the LD Micro Conference.
"Everything is coming together to a degree that even myself and the management team couldn't have predicted," continued Waldrop.
"We knew that California was going to be the largest legal cannabis testing market so we aggressively moved to develop a footprint in that growing market from which to expand rapidly over the next 12 months. We knew that our hub & spoke model provided a unique capacity to increase efficiency and more rapidly achieve economies of scale. What we might have underestimated, however, was the extent to which states are requiring an ever-increasing level of testing rigor. These rule changes have helped accelerate our business, as well distinguish us from competitors, to a degree that even we didn't foresee. We're very pleased to share our successes and plans with the hundreds of investors at the LD Micro Conference last week in Los Angeles."
Signal Bay currently has five EVIO Labs in operation including one in California. The Company plans to add 18 more accredited EVIO Labs in the Golden State by the end of 2018. Signal Bay has seen explosive growth over the last few months, and just recently reported record sales figures for the month of October. The presentation could not come at a more pivotal time for the Company, or for the industry. The Company projects to generate over $45 million in annual revenues and operate over 30 EVIO Labs by 2020.
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