CORAL SPRINGS, Florida, October 28, 2014 /PRNewswire/ --
Industry analysts report legal marijuana & cannabis sector could top revenues of $35 billion by 2020 as operations continue to expand Nationwide. Today's Companies in focus are: OSL Holdings, Inc. (OTC: OSLH), GW Pharmaceuticals plc (NASDAQ: GWPH), American Green Inc. (OTC: ERBB), Medical Marijuana Inc. (OTC: MJNA) and Megola Inc. (OTC: MGON)
OSL Holdings, Inc. (OTCQB: OSLH) announced today the development of a multi-tier, on-line cross platform social network and information repository solution that will enable legal marijuana dispensaries and hydroponic gardening supply retailers to manage marketing, lead generation, and retail discovery. The platform is expected to become an ad supported online extension of our recently acquired Go Green Hydroponics retail operations and other vertical venders and will enable local and hyper local search with advanced querying capabilities when it is expected to launch in the second quarter of fiscal 2015. Designs for the platform include a comprehensive B2B and B2C portal and a social network with planned user generated content features. We plan to launch both a web based and mobile platform that will enable dispensaries and patrons to manage and search while on the go. Planned community and social features will allow patrons to share experiences and provide feedback to the dispensaries and community.
Bob Rothenberg, OSL's Chief Executive Officer said, "We are very excited to commence the development of what we believe will be the country's premier cross platform social network and informational repository in the legal medical marijuana vertical." Steve Gormley, OSL's Chief Business Development Officer said, "We have engaged a leading team that includes engineers, designers and developers with proven success in the business and expect to be able to launch our website and app in roughly 6 months." Gormley went on to say, "This is a space currently dominated by Weedmaps. We intend on offering consumers a deeper, more robust and more user friendly option."
Read the full OSLH press release at http://www.financialnewsmedia.com/profiles/oslh.html
According to published reports by Justin Hartfield, Chief Executive Officer for Weedmaps.com, a privately held company founded in 2008, he claims that Weedmap's annual revenues have grown from $4 million in 2010 to over $30 million in 2014. OSL Medical Services is a management, future planning and services platform centered on the development and financing of indoor gardens and cultivation facilities, production technologies, merchandise and operational services for businesses in the herbal and natural medicine industry.
In other Marijuana/Cannabis news and developments: GW Pharmaceuticals plc (NASDAQ: GWPH) announced earlier this month preliminary topline results from a Phase 2a ulcerative colitis trial was to be presented at the Company's R&D Day event in New York City. The Phase 2a pilot trial was a 10-week randomized, double-blind, placebo controlled study of GWP42003 extract, which features Cannabidiol (CBD) as the primary cannabinoid and which also contains Tetrahyrdocannabinol (THC) and other cannabinoid and non-cannabinoid components. The trial included 60 adult patients with ulcerative colitis who had not been able to gain remission from the condition despite first line treatment with salicylates, and in some cases immunosuppressive therapy.
American Green Inc. (OTCPink: ERBB), through its subsidiaries, operates medical marijuana retail dispensaries in the United States. The company operates through ZaZZZ automated dispensary vending machines, which are designed to vend to adults over the age of consent, and in compliance with local and state regulations. It also provides nutritional supplements based on plant-based nutrients and enzymes; and operates ZaZZZ debit card network. On Monday, ERBB closed up 7.07% on over 27.5 million shares traded.
Medical Marijuana Inc. (OTCPink: MJNA) operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries. The company's services include development of cannabinoid based health and wellness products; and development of medical grade compounds; and licensing of proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal herb industry. On Monday, MJNA closed up 3.14% on over 6.6 million shares traded.
Megola Inc. (OTCPink: MGON) distributes physical water treatment, water filtration, air purification, microbiological control, waste water treatment, and fire safety products in North America and Asia. The company primarily offers ScaleGuard System, a non-invasive physical water treatment device. It also provides air purification systems that include AirGuardian Systems and AirGuardian Power Filters; microbiological control and waste water treatment systems, such as Ozone Treatment Systems and Bioguard UltraViolet Water Treatment Systems; and IonClear - Copper Ionization Systems. On Monday, MGON closed up 100% on over 21.1 million shares traded.
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