CORAL SPRINGS, Florida, April 21, 2015 /PRNewswire/ --
Legal cannabis markets, products & devices in the U.S. are expected to grow at a rapid pace over the next five years opening opportunity for companies & vendors that provide technology services for indoor/outdoor cultivators and new cannabis products for retailers alike. Companies in focus today are: Surna Inc. (OTC: SRNA), Totally Hemp Crazy Inc. (OTC: THCZ), Medical Marijuana, Inc. (OTC: MJNA), Breathe, E-Cigs Corp. (OTC: BVAP), 22nd Century Group, Inc. (NYSE: XXII) and DigiPath Corp (OTC: DIGP)
Surna Inc. (OTCQB: SRNA), is a technology company that engineers, manufactures, and distributes state-of-the art equipment and systems for controlled environment agriculture ("CEA") currently specializing in commercial indoor cannabis cultivation, announced financial results for 2014 and subsequent events. In April 2014, the Company began operations and in its third quarter closed on its acquisition of Hydro Innovations. For the year ended December 31, 2014, the Company had gross revenues of $1,838,912 and on a combined proforma basis with Hydro Innovations it had gross revenues of $2,488,837. The net loss for the year and combined proforma loss were $2,991,969 and $3,263,320, respectively.
Read the full SRNA Press Release at http://www.financialnewsmedia.com/profiles/srna.html
Surna established its foundation as a technology-based company, spending $319,430 on research development for new technology and products, accounting for 17% of the Company's revenue. The Company spent $240,784 for advertising and marketing to advance its products and brand recognition. Its general and administrative expenses were $2,636,244, which included a non-recurring one-time non-cash expense of $1,330,000. The Company finished the year with a balance sheet that included liquid assets (cash, accounts receivable, inventory and prepaid assets) of over $1,400,000 while current accounts payable in cash totaled $725,231, of which $303,672 is payable to shareholders. During the year, the Company raised $2,961,000 through the issuance of convertible debt and an additional $911,000 subsequent to year end.
In other Cannabis/eCig Devices news and happenings: Totally Hemp Crazy Inc. (OTC: THCZ) recently announced that the Company has signed a distribution agreement with the Dr Pepper-Royal Crown Bottling Company of Chickasha, OK. This is the second distribution agreement for the Company in the State of Oklahoma for the Rocky Mountain High hemp infused brand of beverages. Steve Gerdes, President for Chickasha Dr Pepper-Royal Crown, said, "We are excited to be included in a new cutting edge product line that has the potential to be a game changer in the beverage industry in this drink category. The energy drink, lemonade, and my favorite, the Iced tea taste great! We can't wait to start distribution to our customers."
Medical Marijuana, Inc. (OTC: MJNA) is the first publicly traded cannabis company in the United States. In honor of "420" celebrations in medical and recreational cannabis states, the Company is spearheading a fresh start for the powerful ancient botanical by unveiling a fresh new look to the Medical Marijuana, Inc. website. See http://www.medicalmarijuanainc.com. "Having personal experience with cannabinoid sciences as well as being the number seven investor in Medical Marijuana, Inc., I can attest that the Company and industry have come an extremely long way since the current leadership took over operations in 2011," states Stuart W. Titus, PhD and Chief Executive Officer of Medical Marijuana, Inc. "Since then, we have funded and witnessed incredible advances in cannabinoid sciences through many of MJNA's portfolio and investment companies. Each is leading the industry with their respective initiatives and we are thrilled to provide announcements of breakthroughs and growing public acceptance of cannabis as an everyday use product. Our collective goal is and always will be product safety, establishing industry standards and -- most importantly -- accessibility for all. Surprising to many, Medical Marijuana, Inc.'s focus is primarily on the industrial hemp that is accessible in all 50 states and more than 40 countries."
Breathe eCig Corp. (OTCQB: BVAP), the electronic cigarette industry innovator and pioneer, has today announced the appointment of Frank P. Orlowski ("Mr. Orlowski") as the first member of the Company's Advisory Board. Currently, Mr. Orlowski holds the positions of senior director finance, emerging markets and transition manufacturing sites at Pfizer, Inc. ("Pfizer"), one of the world's largest pharmaceutical companies. In his capacity on the Advisory Board, Mr. Orlowski will leverage his extensive industry experience to assist Breathe in effectively developing intellectual property, establishing joint venture partnerships and efficiently targeting market segments. Breathe CEO Mr. Josh Kimmel stated, "The Company is thrilled to have the opportunity to work with Mr. Orlowski and learn from his many years of experience in the pharmaceutical sector, as well as manufacturing. He shares our enthusiasm about the future of Breathe's products and technology as we strive to build the best and most socially responsible product in a large and fast growing industry. We are already having discussions about some innovative ideas with respect to marketing, joint ventures and patent applications."
22nd Century Group, Inc. (NYSE: XXII) announced that on April 21, 2015 in Valencia, Spain at the SH Valencia Palace hotel, the Company will hold a press conference announcing the launch of MAGIC cigarettes in approximately 900 state-licensed retail shops across Spain. MAGIC cigarettes will be available to consumers starting April 24, 2015. 22nd Century's MAGIC cigarettes are made with the Company's proprietary very low nicotine tobacco and are manufactured for sale in Europe by Orion Tobacco Corporation. Designed to appeal to discriminating consumers and positioned to compete with premium cigarette brands, MAGIC 0 yields only 0.04 mg nicotine per cigarette - 95% less nicotine than conventional cigarette brands. Indeed, MAGIC 0 is the world's only virtually nicotine-free tobacco cigarette. MAGIC 2 yields 0.2 mg nicotine per cigarette - an 80% reduction in nicotine as compared to conventional brands.
DigiPath Corp (OTC: DIGP) news: Just days before the opening of its cannabis testing laboratory in Las Vegas, DigiPath, Inc., the independent digital pathology and cannabis testing, education, and media firm, has published on its website a letter to investors. The direct communication from DigiPath, Inc., CEO Todd Denkin describes the progress the company is making in each of its four major business units. "The big news is that less than five months after receiving a provisional license to build and operate a cannabis testing lab in Clark County, we're ready to open," says Denkin. "In that short time we have assembled an exceptional team of scientists, developed industry-leading processes, and invested over $1 million in analytical instrumentation. Cannabis safety and potency testing has arrived in the Silver State." Read more here: http://finance.yahoo.com/news/las-vegas-cannabis-testing-lab-163600145.html
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