NEW YORK, November 21, 2017 /PRNewswire/ --
A report published by Arcview Market Research, indicates that the legal cannabis industry will grow at 22% CAGR in 2017, as the eight states that voted to open or expand their cannabis markets on Election Day in November 2016, will work to implement new businesses, programs and products. According to the report the industry accelerated at a remarkable pace in 2016. North American consumers spent $6.7 billion on legal cannabis products, which represents an increase of 34% from 2015. The data forecasts the legal cannabis industry will grow robust 27% CAGR to $22.6 billion by 2021. Global Payout, Inc. (OTC: GOHE), Greengro Technologies, Inc. (OTC: GRNH), Cannabis Science, Inc. (OTC: CBIS), Surna, Inc. (OTC: SRNA), GB Sciences, Inc. (OTC: GBLX)
A major issue the legal cannabis market has to deal with is raising money. Because of discrepancy between states and federal laws, banks still often are not willing to open checking accounts and do not lend money for cannabis business. A report by paymentssource.com indicates that a shop that handles its payments electronically is less able to commit tax fraud and less likely to be a target of theft. As result, some concerns that financial institutions have may be dealt with. "You're starting to see a tendency, a healthy capitalistic tendency, for banks and credit unions that know they are missing out on or losing money by not working with marijuana businesses," said Serge Chistov, an investor and financial consultant for Honest Marijuana, a recreational grow house in Denver, Colorado.
Global Payout, Inc. (OTC: GOHE) announced breaking news today that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") established a significant and successful presence during its attendance last week at the 2017 Marijuana Business Convention ("MJBizCon") in Las Vegas, NV where the Company was represented by COO, Vanessa Luna and PotSaver Founder, Aaron Adler.
The event, which brought together a large contingent of individuals and businesses from the cannabis industry across North America, provided the Company and its PotSaver brand with a strong platform to showcase and introduce its service offerings to many key individuals who are deeply connected within the industry. The Company is also encouraged by the number of connections it established at the event which they believe will materialize into new subscription agreements and/or partnerships for the PotSaver brand whose premier Los Angeles edition will be released in Los Angeles County on the 1st of the year.
"This was an incredibly successful trip for both the MTRAC and PotSaver brands," said MTRAC COO, Vanessa Luna. "I am impressed by the tremendous amount of interest our brands are generating amongst some of the most important individuals in the cannabis industry. From PotSaver's expansion into the LA market space, to the banking solutions we are rigorously working on launching for the industry, the growth potential that exists for MoneyTrac is truly limitless as we continue to work on capitalizing on every opportunity possible in this rapidly growing industry," Ms. Luna further remarked.
MTRAC also utilized its time in Las Vegas to attend a variety of important meetings to advance its ongoing work in developing critical banking solutions for businesses operating in the cannabis industry. More specifically, MTRAC met with key collaborators whose focus is on implementing the many different compliance features that will be required to operate a successful and highly-resourceful banking solution for the industry. Through these connections MTRAC continues to establish itself in the financial banking and compliance sectors, the Company remains extremely optimistic that it will be positioned to launch an effective banking solution for the underserved cannabis industry in the coming months."
Greengro Technologies, Inc. (OTC: GRNH) is a provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural systems serving both the consumer and commercial farming markets. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational cannabis sectors. On October 12, 2017, the company announced that its majority-owned subsidiary, Biodynamics, Inc., was awarded a purchase contract to build a 2-acre turn-key fully automated photovoltaic solar glass hydroponic cannabis greenhouse in Greenfield California, for Canna Culture Collective Inc., San Jose, California. Under the terms of the agreement, Biodynamics will construct an 88,364 sq. ft. PV solar glass hydroponic cannabis greenhouse for Canna Culture Collective, Inc., and expects to start construction as soon as permitting is complete in the first quarter of 2018.
Cannabis Science, Inc. (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. Recently, the company announced that it will release its newest version of the Patient Access Center (PAC), an exclusive online community for social networking and information sharing platform. By bringing together Doctors, Patients, Industry Professionals, Lawyers, Scientists, Civil and Constitutional Rights Activists, Legalization Efforts Groups and many others, the company are building a powerful knowledge center of real world data of successful treatment stories, formal clinical study information, to mobilizing large groups for upcoming events, or certain demographics that need help to help effective change for each area of concern or question. Through 24/7 real-time communications and interaction between its members, this platform will create an information exchange game changer, pushing forward the movement of Cannabis and Hemp education, drug development, and to help fix the ineffective patient treatment and access because of the illegal conflicts of interest between the individual State Governments vs the Federal Government for Cannabis and Hemp cultivation, drug development and distribution laws.
Surna, Inc. (OTCQB: SRNA) is a Boulder, Colorado-based manufacturer of a proprietary line of optimized lighting, environmental control and air sanitation systems for state-regulated cannabis cultivation facilities as well as traditional indoor agricultural facilities. On August 30, 2017, the company announced the launch of a new website and brand strategy to reflect Surna's rising position as a go to solutions provider and the increasing impact its technology is having on the cultivation industry. Surna, Inc., has become a leader for indoor grow cultivation through its expertise and technology developments in climate control and biosecurity systems.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On October 23, 2017, the company announced that it projects sales of $500,000 in October and continued sales of at least $500,000 per month over the next three months. GB Sciences recorded unaudited sales of approximately $320,000 in the three months ended 9/30/17. The company is operating at 200 grow lights, which is only 30% of its expected final capacity after build out is completed. After the final build out, cultivation revenues will continue to increase with a target flower capacity of $18Million annually. The company is expected to open its production facility in late November or early December of 2017. This operating unit should generate additional significant free cash flow from oil over 2018 at a steadily accelerating pace.
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