EAST HANOVER, N.J., Dec. 5, 2017 /PRNewswire/ -- Pazoo, Inc. (OTC: PZOO) is pleased to announce that it has come to an agreement to obtain the projected funding needed to open and begin operations of MA & Associates LLC, (DBA: MA Analytics), a cannabis testing laboratory located in Las Vegas, Nevada.
The agreement allows Pazoo to retain a 30% interest in the lab while at the same time injecting the final projected amount of much needed funding into the business in order for the lab to finally open its doors and begin to generate revenue. This transaction also retires over one million dollars in debt which constituted part of the purchase price for the sale of 70% of the Membership Interest in MA & Associates LLC. We anticipate the projected opening of the lab to be sometime in the first quarter of 2018.
Additionally, Pazoo, Inc. is also pleased to announce that MA & Associates LLC, has added a new Lab Director and Compliance Officer to its staff in anticipation of opening the lab as well as complying with additional testing and procedural requirements set by the State of Nevada. The testing performed by MA & Associates LLC, as required by Nevada, will protect consumers from contaminants, chemicals and other impurities within the cannabis plant, ensuring the consumer is getting the best possible product.
Pazoo's acting CEO Steve Basloe said, "We are very pleased to finally secure and complete this deal which will enable us to get what we project is needed to open the lab in Las Vegas and be fully operational. In addition, we are conducting a nationwide search for a permanent CEO to help the business move forward to its revenue generating stage."
About Pazoo, Inc.
Pazoo, Inc. is focused on health, wellness and safety. Upon opening the lab, we will provide best-in-class laboratory testing of cannabis and cannabinoids to protect consumers from impurities, contaminants and other irregularities. Through our investment in MA & Associates LLC, in connection with the projected opening of the lab, Pazoo will provide industry leading laboratory testing of cannabis.
Safe Harbor Statement
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SOURCE Pazoo, Inc.