PALM BEACH, Florida, Jan. 16, 2020 /PRNewswire/ -- A recent article from Wall Street insider, Motley Fool, said that It's no secret by now that the marijuana industry is a big-money business… However, there's a potentially larger growth trend contained within the cannabis movement that investors simply have to know about: Cannabidiol (CBD). Hemp plants are considerably cheaper to grow than cannabis, making hemp plants the preferred crop choice for CBD extraction. They said the big question is: Just how big could the CBD market be? Brightfield Group believes it has the answer. In a newly released report from Brightfield, the company is calling for year-over-year CBD product sales growth in the United States of 706% in 2019 to around $5 billion -- not a typo – and sales of $23.7 billion by 2023. Comparatively, about $620 million worth of CBD products were sold last year in the United States (based on 706% growth to $5 billion). Growing CBD revenue from about $620 million in 2018 to $23.7 billion by 2023 works out to (drum roll) a compound annual growth rate (CAGR) of a whopping 107%! Compare that to some of the most robust broad-based growth estimates for cannabis, which call for a CAGR of around 25%, and you can see why CBD is all the buzz (without creating an actual buzz) on Wall Street. Cultivators have taken notice of theses growth projections and are using every means that can to increase yields including new technologies such as drones. Active Companies from around the market with current developments this week include: Epazz, Inc. (OTCPK: EPAZ), Hemp, Inc (OTCPK: HEMP), Kona Gold Solutions, Inc. (OTCPK: KGKG), Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB), cbdMD, Inc. (NYSE: YCBD).
Industry websites have pointed out how this technology can help farmers figure out the optimal growing conditions for hemp-based CBD. To improve their farm's profitability, hemp farmers use drone technology to bring precision agriculture to their hemp fields for plant counting and canopy sizing. Instead of "walking the field" to estimate size, farmers are using drones and artificial intelligence to count and size plants. Use quantitative analytics to evaluate varieties, surface replanting opportunities, and monitor sexual maturity and harvest opportunities to prevent the loss of CBD concentration. They also use them for stress and disease monitoring. Rather than taking random soil samples and scouting for grey or yellow mold, powdery mildew, or dark and discolored watery lesions, they can apply a vegetative index to immediately surface indicators of stress.
Epazz, Inc. (OTCPK: EPAZ) MARKET NEWS: Epazz been in the news of late with a few major developments as this week the Company has announced that its holding, ZenaPay Inc., has successfully completed testing of its patent-pending drone charging pad, thus allowing the technology to move from the prototype stage to the preproduction stage. ZenaPay has already received 5 pre-orders for its drone charging pad from Greenheart CBD for delivery in April 2020.
The ZenaPay patent-pending drone charging pad has several major competitive advantages over charging pads currently on the market. The first is that the ZenaPay charging pad is affordable: The initial price will be approximately $1,000. In addition, the pad will allow for fast charging without needing to hire an electrician to switch outlets. The goal is to provide the ZenaDrone with a one-hour flight time and a one-hour charging time, allowing the ZenaDrone to work most of the day and night. By adding a second ZenaDrone, a customer will be able to have 24/7 coverage. This is a major benefit for companies looking to use drone technology for farming, security, crop insurance, law enforcement, and border protection.
One area ZenaPay is considering for marketing 24/7 coverage is livestock and wildlife protection. ZenaDrone multispectral sensors have the capability to be modified to create a tracking system for each animal. Although further research and development are required, the company believes that facial recognition technology can be used on animals.
EPAZ has also recently confirmed five preorders of patent-pending ZenaDrone Smart Farming Solution with GreenHeart CBD for Irish hemp farms. We are forecasting sales to be over $600,000 for the first year in 2020. We also believe the drone technology will generate profits its first year. The profits will be reinvested back into the technology.
In August 2019, the ZenaPay team beta tested its drone-mapping and plant-tracking solutions in Ireland with GreenHeart and Hemp Tech hemp farms. The beta test was a success, and ZenaPay signed up additional customers.
With the success of the beta test, ZenaPay Inc. and GreenHeart CBD LTD signed a distribution agreement for GreenHeart to sell ZenaDrone Smart Hemp Farming Solution to its network of farmers in Ireland and the United Kingdom with an option to expand through the European Union.
Paul Walsh, CSO and co-founder of GreenHeart CBD LTD, said, "Every farmer in its network would be required to sign up with ZenaPay Smart Farming solution to assure the quality of his or her hemp plants. GreenHeart is quickly growing its network. Ireland and the United Kingdom have hundreds of hemp farms." Learn more about EPAZ by clicking here: https://www.epazz.com/Investors
In the industry developments and happenings in the market this week include:
Hemp, Inc (OTCPK: HEMP) has announced that approximately 33,000 pounds of hemp biomass have been processed and are now available for sale.
The biomass that is available for sale tested at a minimum of 7.5% cannabidiol (CBD). The biomass is from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. According to a report from Research and markets, the global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a CAGR of 34%.
Kona Gold Solutions, Inc. (OTCPK: KGKG) recently announced the Company has scheduled its second meeting with one of the largest supermarket chains in the Southeast, consisting of 550 locations over its portfolio of supermarkets. The Company will also be meeting with a Florida based, fourth generation run, food distributor as well, who covers the Southeast United States. Both meetings are set for the end of the month.
Kona Gold also announced, in November and December, it had met with the majority of beer distribution houses in the state of Florida, receiving great response from its product portfolio. The Company is currently scheduling following up meetings with those beer distributors as those distributors ramp up for the new year and look to add non-alcoholic beverages to their portfolios.
Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) recently announced that its Aurora Sky ("Sky") facility has been granted its sales license by Health Canada, significantly increasing availability of both dried flower and derivative cannabis products across all cannabis markets the Company is targeting.
The Company also announced today that it has received a sales license from Health Canada, permitting the sale of cannabis softgel capsules produced at its state-of-the-art Aurora Vie facility located in Pointe-Claire, Québec. Aurora and Capcium Inc. ("Capcium"), the Montreal-based manufacturer that specializes in high-volume softgel encapsulation have already commenced production of softgel capsules, which are targeted at the medical, wellness, and adult consumer use markets. The Company anticipates softgels to become a high volume, high margin product within all of its target markets. The Company holds a 19.99 per cent ownership stake in Capcium and is Aurora's exclusive manufacturer of cannabis softgel products in North America.
cbdMD, Inc. (NYSE: YCBD) the company and the Registrar at National Day Calendar, have declared January as "National CBD Month." As the popularity of CBD continues to rise, millions of Americans are educating themselves on the prospective properties of CBD and how it can complement their everyday health and wellness routines. With a versatile array of CBD products to choose from, including tinctures, capsules, topicals, bath bombs, and a full pet product line up, cbdMD helps consumers experience which CBD application and regimen works best for their specific needs.
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