NEW YORK, Sept. 5, 2019 /PRNewswire/ -- Following the passage of the U.S. Farm Bill in late 2018, CBD-based products have rapidly spread throughout the country. Notably, the U.S. Farm Bill authorized the sale and transportation of CBD products throughout the nation. As a result, consumers can easily find CBD products such as patches, topicals, and tinctures at local convenience stores, pharmacies, and even e-commerce platforms. Even major international retailers such as Amazon and Walmart began to list CBD products on their sites after the U.S. delisted CBD from its status as a Schedule 1 controlled substance. To note, CBD is only legal if the THC content within the product is less than 0.3%, which is insufficient to cause psychoactive effects. Prior to the passage of the U.S. Farm Bill, the overall hemp market was split amongst several categories. The hemp-CBD segment was still the largest, controlling approximately 23% of the hemp industry. However, the personal care segment trailed shortly behind the hemp CBD market, accounting for 22% of the market share. Moreover, the food and industrial application segments accounted for 17% and 18% of the total market share, respectively. Although the market share remained relatively split across various segments, the hemp CBD market is projected to accelerate at a much more rapid rate compared to the rest of the hemp market. Furthermore, by 2022, the U.S.-based hemp CBD market is projected to deliver USD 646 Million in sales, representing a 240% growth compared to 2017. And overall, the hemp industry is positioned for further exponential growth, largely due to the legalization of CBD. According to data compiled by Hemp Business Journal, a division of New Frontier Data, the total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research suggests that the industry is expected to grow to USD 1.9 Billion by 2022 and at a CAGR of 14.4% during the 5-year period. Global Payout, Inc. (OTC: GOHE), Terra Tech Corp. (OTC: TRTC), Marijuana Company of America, Inc. (OTC: MCOA), Medical Marijuana, Inc. (OTC: MJNA), Puration Inc. (OTC: PURA).
With the rise of the digital age, e-commerce platforms have dominated the retail industry. The aggressiveness of e-commerce has even caused many brick-and-mortar stores to struggle to retain their customer base. E-commerce platforms are hugely popular because customers can simply order any product they need from almost anywhere. However, all e-commerce platforms require an advanced payment system to enhance the customer experience, but it is these systems that also allow businesses to better manage their funds. Prior to the passage of the U.S. Farm Bill, many cannabis-based businesses had to manage physical cash piles because financial service providers refused to deal with cannabis business due to the legality of cannabis. Following its passage, many financial providers have since decided to enter into the rapidly growing cannabis space because of the CBD market segment's promise. Now, the cannabis industry is growing into an entity that requires innovative technological advancements in order to thrive among other global industries, as it still remains in its infancy stage. Nonetheless, the cannabis industry has already proven its credentials as a rapidly growing global market. "Cannabis is still a new industry that's just getting out of the shadows, so people see there's huge potential to develop all sorts of new technologies," said Meghan Larson, Co-Founder of Adistry.
Global Payout, Inc. (OTC: GOHE) announced yesterday that, "as the Company enters the last month of the third quarter of 2019 it has reached a point where it is effectively processing tens of millions of dollars in daily transaction volume across its growing base of clients in the multibillion-dollar cannabis industry.
As demonstrated in the Company's recent Q2 disclosure detailing Company financials, MTrac's growth trajectory has remained positive and has continued to gain significant traction throughout the year. This growth can be attributed to the successful strengthening of their foothold and market reach in what has become one of the most dynamic industries in today's economy. This feat has been accomplished in part through MTrac's success in securing several strategic service agreements with some of the largest companies in the industry today.
The company has recently signed a new account application with an anticipated 34 locations and has applications coming in weekly for the services offered through MTrac.
In addition to their expanding market reach, the Company is also fully engaged with key legislative partners in different states to help push for the adoption of their system as a means of providing merchants within these states with a viable and compliant payment processing alternative to cash as they remain focused on delivering "The Key to Cashless®" to as much of this diverse and expanding industry as possible.
About Global Payout, Inc. (OTC Pink:GOHE): Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global's current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors."
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Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that it had broken ground at 620 East Dyer Road, Santa Ana, CA, following receipt of the necessary permits from the City of Santa Ana which allow construction to commence. The Company is developing a large scale, one-of-a-kind cannabis complex on East Dyer Road, which is adjacent to the 55 Freeway and acts as an entry point into the Southern California marketplace, allowing the Company to benefit from the areas high population density and traffic. Chief Executive Officer, Derek Peterson, said, "I would like to extend our thanks to the City of Santa Ana for its ongoing support as we advance our plans to build out a Blum-branded retail dispensary at our East Dyer location. We are also developing a cannabis event center, which is anticipated to make us a highly sought-after destination in one of the country's most important cannabis markets. The Dyer Road facility is in a densely populated area, with approximately 4,100,000 residents living within 20 miles of the location. It also benefits from a high level of tourism due to its proximity to Disneyland, another major Southern California attraction. This is a very exciting project for us and we expect construction to be completed in the fourth quarter of 2019.
Marijuana Company of America, Inc. (OTCQB: MCOA) is a corporation that participates in product research and development of legal hemp-based consumer products under the brand name "hempSMART™" that targets general health and well-being and an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD. Marijuana Company of America, Inc. recently announced the official launch of its premium cannabis delivery service, VivaBuds, in the San Fernando Valley, California. "We are extremely pleased to have officially launched our delivery service throughout the San Fernando Valley, where demand for cannabis continues to increase unabatedly," said Chief Executive Officer of MCOA Mr. Donald Steinberg. "We believe that by providing delivery and our high-quality premium products to our consumers, we will increase revenues, expand margins, and improve our overall brand recognition. I am confident that this new endeavor dovetails perfectly with our commitment to become a global leader in the legal production, processing, and distribution of cannabis products. Going forward, management will continue to leverage strategic operations and decisions that enhance value for all our shareholders."
Medical Marijuana, Inc. (OTC: MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space. Medical Marijuana, Inc. recently announced that its subsidiary HempMeds® attended and exhibited at SuperZoo, the most-attended pet industry show in North America, in Las Vegas on Aug. 20-22. At the conference, HempMeds® unveiled its new cannabidiol (CBD) pet product line, Hemp for Pets by HempMeds®, made with the Company's Triple Lab Tested™ full-spectrum hemp oil and THC-free isolate. "I consider myself lucky to have spent multiple years in leadership in the pet industry prior to becoming President of HempMeds. There are few industries that are as passionate and committed to providing the best care possible to their loved ones," said HempMeds® President Todd Morrow. "Being a pet lover myself, it just made sense to capitalize on our innovation, quality, standards and testing we require of all our products for people and applying that capability to improving pets' lives. I know pet parents, rescues, shelters and the pet industry as a whole share the same desire to help improve pets' lives and they need to have confidence they're getting the same commitment to quality as our human customers expect. Behaviorally, socially, and physically, Hemp for Pets by HempMeds was developed with a dedication to providing the highest quality and most powerful hemp solutions to make a positive difference in pets' lives."
Puration Inc. (OTC: PURA) has been a water purification company that designs, develops, engineers, produces, markets, and distributes personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost effective, affordable basis, with a minimum of environmental impact. Puration, Inc. and Kali-Extracts recently confirmed adding CBD infused tea to its new line of CBD beverage partnerships. Previously, PURA and KALY published a management presentation to provide shareholders with more details on PURA's recently implemented program to introduce CBD infused versions of existing third-party beverages. PURA has recently announced plans to introduce a CBD infused beer in partnership with an existing beer producer. In similar fashion, PURA is partnering with an existing coffee producer to introduce a CBD infused coffee. In conjunction with a recent presentation published, PURA announced a third partnership to develop CBD infused tea. Additional partnerships are in the works. PURA is a leading CBD infused beverage company having produced over USD 1 Million in CBD Beverages in the United States last year. PURA has targeted USD 4 Million in sales for 2019. The presentation is included in its entirety on the company's website.
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