WHIPPANY, N.J., June 12, 2015 /PRNewswire/ -- Pazoo, Inc. (OTC Pinks: PZOO) (German WKN#: A1J3DK) is pleased to present to the investment community an update on where Pazoo stands today. The 10-Q filing is late due to a few factors. Because the 10-K was filed late it made it practically impossible to begin sufficient work on the 10Q until we had made any required audit adjustments. Prior to the 10-K filing, Pazoo was insufficiently staffed to handle the major advancements of the company. To address that the Company took certain necessary measures to bring in additional staff and to revamp our process to ensure that our financial team continually grows with the rest of Pazoo. It is understood how unacceptable this tardiness is and the real impact it has had.
David Cunic, CEO, states, "Moving forward, I feel confident that we have a strong team and process in place to avoid late filings in the future. To be blunt, I can't begin to describe how excited I am over the progress that we have made thus far. The heart of Pazoo was and is health and wellness in all aspects. We believe in our mission and it drives our team to be successful."
Pazoo's alliance with Steep Hill is by definition mutually beneficial to both companies. Everyone is very enthusiastic about using their superior cannabis testing technology as we work together to continue our expansion. As you may have seen on MoneyTV, Pazoo has recently acquired the remaining 60% of MA & Associates, LLC. This means that Pazoo now wholly owns (100%) the Steep Hill Las Vegas testing facility.
Harris Lee Colorado, LLC will be formed to meet the state residency requirements for testing laboratories. Harris Lee, Colorado, LLC will have a contractual relationship with Harris Lee, LLC so that it can operate a Steep Hill testing laboratory under the Harris Lee, LLC license. The legal process is being wrapped up. A few minor adjustments will be made to the current layout which will allow for expansion of testing services currently being provided in the Denver facility. The Portland, Oregon Steep Hill build out will begin as planned once the lease agreement that we are currently working on has been finalized. That facility will be operated under Harris Lee, LLC.
CannabisKing Distribution, LLC is an example of internal expansion that also further supports the cannabis testing operations. For months, Pazoo has been approached by members of the cannabis community asking for the company to fill a distribution role for ancillary, non-regulated, products to eliminate the currently existing void. This is a derivative operation that should be successful in its own right. However, CannabisKing Distribution allows an expansive ability to network and expand the overall company's footprint into the community. It is expected to directly increase overall market share within the testing community. CannabisKing will co-exist with laboratory operations, and is not limited to any one location.
Looking into the future, Pazoo expects to realize continued growth by both acquiring Steep Hill licenses in additional states and in separate projects that are in the works. Pazoo stands by its intention of continuing testing laboratory expansion into two more "mandatory testing" states by the end of 2015. Expansion into at least three additional states is planned for 2016. Pazoo hopes to have the largest footprint of any cannabis testing company moving forward. It will be accomplished by using the best technology possible and using multiple forms of networking to continue that expansion.
David Cunic, CEO, further stated, "The future is very bright at Pazoo. I am confident in how we are strategically positioning ourselves into the market place. Internally, the 10-Q delinquency will continue to serve as a reminder to always seek improvement. We will continue to roll out our overall vision in the same transparent manner. We expect to continue adding real value to our company. I am proud of our achievements, and I'm grateful to have an amazing group of shareholders forming the foundation of our company."
ABOUT PAZOO Inc.
Pazoo, Inc., is a company focused on health, wellness and safety. Our focus is to provide best-in-class laboratory testing of cannabis and cannabinoids to protect consumers from impurities, contaminants and other irregularities. Through our wholly-owned subsidiary, Harris Lee, and our partnership with MA & Associates, Pazoo provides industry-leading laboratory testing of cannabis. Harris Lee's and MA's license agreements with Steep Hill Labs, Inc. allows the Pazoo subsidiaries to use Steep Hill's top-rated testing protocols in select markets as we expand throughout the USA. Pazoo's subsidiaries are currently licensed to test cannabis in Nevada, Oregon and Colorado, with other states to come. Additionally, Pazoo delivers a comprehensive array of health and wellness information on its website www.pazoo.com.
ABOUT STEEP HILL LABS Inc.
Founded in California in 2008, Steep Hill is a science and technology firm that has become the industry leader in cannabis testing and analytics. With owned and licensed labs in four U.S. states and plans to add labs in New Mexico, Oregon and possibly Jamaica in 2015, Steep Hill is the largest cannabis lab network in the world. The company pioneered the first medical cannabis potency and microbiological contaminants testing methodology for use in California - the first state to legalize medical cannabis. Steep Hill has since developed a variety of revolutionary cannabis testing products, including QuantaCann™, QuantaCann2™ and GenKit™. Steep Hill provides expert consulting services to many states, countries and municipalities, and the company is developing proprietary genetic testing, mapping and trademark protection services for the industry as well.
Safe Harbor Statement:
This update includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as Pazoo, Inc. or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statement.
SOURCE Pazoo, Inc.
Share this article