NEW YORK, March 27, 2018 /PRNewswire/ --
According to a recent report published by New Frontier Data, under full federal legalization the cannabis market has the potential to create cumulatively $105.6 billion in federal tax revenue and 1 million new jobs by 2025. Under the assumption of full legalization in all 50 states, data projects there would be an excess of 654,000 jobs and would increase to 1 million jobs by 2025. The difference between the current structure and the theoretical model is a $61.6 billion increase in federal tax revenues. The report also explains that under full legalization, there would be more legal businesses entering the market, more consumers participating in the legal market, and more employees on official payrolls, resulting in $3.3 billion in payroll taxes. By 2025, payroll deductions would increase to $5.3 billion. Global Payout, Inc. (OTC: GOHE), United Cannabis Corporation (OTC: CNAB), Lifestyle Delivery Systems Inc. (OTC: LDSYF), Leafbuyer Technologies, Inc. (OTC: LBUY), GreenGro Technologies, Inc. (OTC: GRNH).
New Frontier Data CEO Giadha Aguirre De Carcer said, "Under the new business tax rate of 21 percent, the Trump tax cuts will come as welcome relief to cannabis business owners who already face tax hurdles because of 280E. Lower tax rates may provide cannabis business owners greater capacity to grow and create more jobs. New Frontier Data projects increased domestic and international expansion of new legal cannabis markets and $106 billion in tax revenue over an eight-year period in the U.S."
Global Payout, Inc. (OTC: GOHE) March 22nd announced that its subsidiary MoneyTrac Technology, Inc. ("MTRAC", the "Company") successfully attended the Cali-Baja Israel Mexico Innovation Expo in Tijuana this past week where they were able to provide key representational support for their partner, GreenBox ("GBOX"). The expo which was held on March 20th and 21st, brought together technology leaders from around the world to share and exchange ideas among some of the most innovative companies around today.
The expo provided the teams from MTRAC and GBOX a unique and beneficial opportunity to share the forward-thinking blockchain technology solutions offered by GBOX with industry leaders from industries such as energy, water-tech, IoT, mobile and electronic payments and security technologies from all over North America. Most specifically, MTRAC leveraged their presence at the expo to establish strategic connections amongst a diverse group of industry leaders. This is a critical stage for the Company as they ramp-up efforts on the go-to-market strategy for GBOX through the exclusive marketing rights afforded to them by the Joint Venture Partnership executed between the companies. For GreenBox, this event provided valuable connections with tech leaders from across the border, and MTRAC plans to leverage these new relationships to catalyze its already rapid expansion.
"The primary objective of attending this expo in partnership with GreenBox was to further our efforts in helping them develop their brand image and generate additional buzz for the impressive blockchain technology-based solutions they are prepared to deliver to a variety of target market sectors," said MTRAC CEO, Vanessa Luna. "I am very encouraged by the interest and overall excitement we received during the expo especially in knowing that it was received from individuals who are innovators and leaders in the world of technology solutions. My team and I recognize now more than ever the disruptive capabilities GreenBox can infuse into multiple high-cost banking industries and truly be a driving force behind bringing our mission of Banking the Unbankable to fruition."
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. On March 15, 2018, the company announced that Jamaica's University of the West Indies' Ethics Committee has reviewed and approved its proposal to conduct clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain. The study, titled, "An Open-Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules," will be conducted in conjunction with Cannabinoid Research & Development ("CRD"), the Company's Jamaican subsidiary, at the Centre For Cannabis Research at the University Of West Indies, Mona Campus, in Jamaica. Cannabinoid Research & Development (CRD), a subsidiary of United Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry.
Lifestyle Delivery Systems Inc. (OTCQX: LDSYF) is a licensed, state-compliant vertically integrated cannabis-related company. Recently, the company announced launch of Rêveur, a new luxury brand of cannabis products for the California medical cannabis market. CSPA Group Inc. has received all required third-party testing results for the new Rêveur product line which confirmed zero pesticides and zero residual solvents. The test also revealed high levels of terpenes (up to 13%) and THC levels in the mid 80% range. Completion of the required testing now allows for distribution of the product line in selected retail stores in California. CSPA Group is managed by the Company's subsidiary, LDS Scientific Inc. CSPA Group and LDS Scientific conducted a product informational seminar for distributors in both Southern and Northern California.
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is a leading cannabis technology platform. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. In February, the company announced that quarterly sales rose 42% in the quarter ending December 31, 2017. The increase reflects the cash sales booked in the quarter versus the same quarter of the previous year. "We are pleased with our continued growth as we scale across the country in legal cannabis markets," said Mark Breen, VP of Business Development. Looking forward, the company reported that sales in California, Oregon and Washington are trending above expectations and the order funnels for those states is expanding.
GreenGro Technologies, Inc. (OTC: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. In February, the company announced the highly anticipated grand opening of its Cathedral City-based dispensary through its tenant igot420. The anticipated opening will occur, on "4:20" 2018, with a soft opening scheduled for April 1, 2018. The Company noted that the only matter that could cause a delay would be associated with its application with the State of California for a temporary license to sell recreational cannabis. The grand opening of the Company's igot420's second dispensary, follows the opening of its flagship store in North Hollywood, a 14,000 square foot store which opened in October 2017. GreenGro Technologies was able to use proceeds from last year's $4 million financing to secure the buildout of the Cathedral City dispensary and is well underway to secure igot420's third and fourth locations in southern California. The Company noted that it expects management contracts from its igot420 dispensary to contribute to its growing revenue streams before the end of second quarter.
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