GREENWOOD VILLAGE, Colo., Jan. 17, 2019 /PRNewswire/ -- Helix TCS (OTCQB: HLIX) (the "Company") is pleased to announce that it is positioned to see significant growth alongside New York's forthcoming recreational cannabis program that was outlined by Governor Andrew Cuomo on Tuesday. The program is projected to generate upwards of $300 million in annual tax revenue for the state.
BioTrackTHC, a wholly-owned subsidiary of Helix TCS, currently holds the government contract to track and trace the state's medical cannabis supply chain. As state level cannabis industries continue to expand and evolve, Helix believes that businesses with established partnerships and demonstrated success in a given market will maintain market dominance.
Helix TCS' technology subsidiary, BioTrackTHC, is the leading provider of cannabis seed to sale tracking software to the legal marijuana industry and is the #1 revenue generating dispensary point of sale provider. The Company holds government cannabis tracking contracts in 9 regulated markets, including Illinois and New York, which are both expected to legalize recreational marijuana in 2019.
"BioTrack's market dominance and cannabis tracking contracts in key states like Illinois and New York gives Helix unique leverage to strengthen our leading position as ancillary services providers to the legal cannabis industry," said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS. "As these programs expand and transition from medical to recreational, we are poised to capitalize on the progression of the industry."
About Helix TCS, Inc.
Helix TCS, Inc. (OTCQB: HLIX) is a leading provider of ancillary services for the legal cannabis industry, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS's products reach over 2,000 customer locations in 32 states and 5 countries and has processed over $18 billion in cannabis sales. For more information and to sign up for HLIX investor updates, visit us at www.helixtcs.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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