NEW YORK, January 20, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - There are concerns that the newly elected presidential administration may slow down the progress in which the legal cannabis industry has made in recent years. From a financial standpoint however, analysts are projecting positive developments. The cannabis industry has shown strength in growing sales year to year. According to a recent research report published by the ArcView Group, legal cannabis sales in the U.S. last year reached $6.7 billion, a growth of 30 percent from 2015. Sales are projected to increase to $20.2 billion by the year 2021 representing a 25 percent compound annual growth rate. GrowGeneration Corp. (OTC: GRWG), Cannabis Sativa Inc. (OTC: CBDS), Terra Tech Corporation (OTC: TRTC), Surna Inc. (OTC: SRNA), Kush Bottles Inc. (OTC: KSHB).
In an interview with Forbes, Arcview's editor-in-chief Tom Adams said that, "the only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990's and the broadband internet (29%) in the 2000's." ArcView Chief Executive Officer Troy Dayton added, "One of the biggest stories was the alternative forms of ingestion… Concentrates and edibles are becoming customer favorites versus traditional smoking."
GrowGeneration Corp. (OTCQB: GRWG) one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, earlier this morning announced that, "its Las Vegas store officially opened its doors on January 17th. GrowGen separately announced that it is one of 11 companies recently added to MJIC's Marijuana Index. GrowGen's 11th store, located at 5885 South Valley View Blvd., Las Vegas, NV 89118, is a 10,000 sq ft store, will serve a wide range of small, medium and large scale commercial growers. Conveniently located minutes from the Las Vegas strip, we believe GrowGeneration Las Vegas is one of the largest hydroponic stores in the Nevada market.
GrowGeneration Corp. Addition to MJIC Marijuana Index - The United States Marijuana Index tracks the leading public cannabis companies operating in the United States. The index is equal-weighted and rebalanced quarterly. The North American Marijuana Index now has 28 constituents, and the U.S. Marijuana Index and the Canadian Marijuana Index have 17 constituents and 11 constituents, respectively. The Marijuana Index includes companies that have achieved a weighted average minimum market capitalization of $30 million USD, daily trading volume of $400,000 USD and share price of $0.10 USD. Companies with more than $5 million USD of revenue over the prior year are exempt from the above trading requirements. Grow Generation's revenue production in 2016 qualified it for inclusion in the Marijuana Index.
Darren Lampert, Co-Founder and CEO, said: "The addition to the MJIC Marijuana Index is another validation of GrowGeneration's rapid growth and market position as a leading supplier of equipment and grow supplies to the cannabis and indoor cultivation industry. With 11 stores and counting, we are excited to open the doors of our Las Vegas store and for the trajectory of GrowGen's growth to be tracked in the leading index of public cannabis companies. Executing and opening our GrowGen Las Vegas operation, furthers our business plan to aggressively expand our store footprint in all adult use markets."
In addition earlier in the week, GrowGeneration Corp. announced a partnership together with New Frontier Data, a company specializes in real time business intelligence for the cannabis industry. The two companies will "provide cultivators in the sector with the necessary data to help them better understand where their time, resources, and money should be spent to best align with product demand and maximize profitability at a critical time in this growing sector."
New Frontier CEO and Founder, Giadha Aguirre De Carcer, said in a statement, "Everyone in this industry is looking for that extra edge to take their business to the next level. As the state markets mature and the industry is becoming more competitive, especially for growers. Cultivators who do not properly understand their business, operating environment, and customers' wants will find it increasingly difficult to remain competitive, let alone profitable. GrowGen's vast data processed through our big data engine and made actionable by our analytics will help GrowGen to provide cultivators with the competitive edge they need to succeed in the changing cannabis space."
Cannabis Sativa Inc. (OTCQB: CBDS) was awarded Patent PP27,475 for a Cannabis Plant, known as the Ecuadorian Sativa (CTA). This is one of the few cannabis strains allowed by the United States Patent & Trademark Office and was the outcome of seven years of legal effort. Cannabis Sativa plans to market or license the patented strain using the names "Ecuadorian Sativa" and CTA. The stance of the USPTO on whether Cannabis Sativa will be awarded the trademark Ecuadorian Sativa or CTA, or if it is obscure in the patent is the quandary. The Company's President David Tobias said, "This is a major accomplishment and is a tribute to the foresight and perseverance of management to solidify Cannabis Sativa's contribution to the maturing Cannabis industry."
Cannabis-focused agriculture company, Terra Tech Corporation (OTCQX: TRTC) operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology Ltd., is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corporation. It intends to operate medical marijuana cultivation, production and dispensary facilities in Nevada through its subsidiaries, MediFarm, MediFarm I MediFarm II. Through its subsidiary, IVXX, Inc., it produces and sells a line of cannabis flowers and cigarettes, among others. The hydroponic produce segment consists of Edible Garden's business and operations.
Surna Inc. (OTCQB: SRNA) manufactures innovative technology and products that address the energy and resource intensive nature of indoor cultivation. Surna's current focus lies in supplying industrial solutions to commercial indoor cannabis cultivation facilities and had developed a liquid-cooled climate control platform. The company's engineers continuously seek to produce technologies that allow growers to easily meet the highly specific demands of a cannabis cultivation environment through temperature, humidity, light and process control.
Kush Bottles Inc. (OTCQB: KSHB) is a California-based company, with the goal of assisting entrepreneurs who want to enter the cannabis industry, overcoming the many barriers to entry. Kush Bottles markets and sells packaging products and solutions to customers operating in the regulated medical and recreational cannabis industries. The Company specializes in the wholesale distribution of packaging supplies and customized branding solutions for the cannabis industry. Its packaging business primarily consists of bottles, bags, tubes, and containers. It has built itself a first-mover advantage by providing cannabis enterprises across the U.S. with market expertise, proper branding and high-quality packaging that satisfies the stringent requirements of the law.
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