NEW YORK, January 3, 2018 /PRNewswire/ --
According to Hexa Research, the U.S. medical cannabis market is projected to reach $19.48 billion by 2024. The expected growth is driven by the expanding acceptance of medical advantages associated with cannabis, particularly for patients dealing with cancer, diabetes and chronic pain. Symptoms and conditions that may be treated by cannabis include, cancer, HIV, AIDS, Alzheimer's disease, and multiple sclerosis. Chronic pain accounted for 46 percent of the U.S. cannabis medical market share in 2016. According to the research, the solid cannabis edibles segment in 2016, within the U.S. market generated $2.47 billion in revenue and is expected to continue to dominate the cannabis industry to 2024. Global Payout, Inc. (OTC: GOHE), SinglePoint, Inc. (OTC: SING), Mountain High Acquisitions Corp. (OTC: MYHI), American Cannabis Company, Inc. (OTC: AMMJ), Surna Inc. (OTC: SRNA)
California's new recreational cannabis laws went into effect on January 1st, 2018. A report published by New Frontier Data projects that legal cannabis sales in California will reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years. Giadha Aguirre de Carcer, New Frontier Data CEO explained, "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state… As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
Global Payout, Inc. (OTC: GOHE) on December 7th announced that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") has secured a definitive Referral Partnership Agreement with GreenRush Group, Inc. ("greenRush"). This agreement will provide MTRAC with a direct source of revenue from the referral of cannabis-related businesses who secure a contract with greenRush for the use of their e-commerce payment platform, and Green Label Platform.
The Agreement further solidifies the ongoing partnership between MTRAC and greenRush that was established in May of this year. As MTRAC continues establishing new partnerships with businesses throughout the cannabis industry who are eager to be introduced to various e-commerce platforms, such as that offered by greenRush, it is maximizing consumer exposure and streamlining e-commerce capabilities. The terms of the Agreement also provide MTRAC with an opportunity to earn recurring revenue commissions from e-commerce transaction activity conducted on the greenRush platform involving businesses referred to greenRush by MTRAC.
MTRAC COO, Vanessa Luna said: "The greenRush e-commerce platform is truly ahead of anything else in our industry today and is one of the most valuable resources available to dispensaries and other companies and brands who need an effective platform to market and sell their products for both B2C and B2B purposes. This agreement will give us an opportunity to contribute to the growth of greenRush through our referrals and will also play a vital role in the growth and success of our existing and future clients and partners as we work with them to leverage the resources available through the greenRush platform."
MTRAC also believes that this agreement should produce revenue earnings for the Company as early as the 1st quarter of 2018 from several already executed referral agreements. In addition, they are currently in the process of directing multiple referrals and brand labels to greenRush, which should result in a steady source of revenue throughout 2018."
SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. On December 12, 2017, the company announced key advances in its corporate mission with the launch of additional joint ventures and the closing of new deals within existing agreements. The Company reported that it has formalized its previously announced joint-venture agreement and made the first payment to AppSwarm to start development on a proprietary delivery application that will enable licensed delivery services and licensed dispensaries to safely make in home deliveries. This agreement specifically strengthens SinglePoint's position in the cannabis and cryptocurrency markets. SinglePoint also recently entered in a multi-phase joint venture with Smart Cannabis Corp. The Company has identified this joint venture as another opportunity to make a big move into the State of California before it fully legalizes marijuana in January 2018.
Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the acquisition and development of businesses and other assets within the cannabis sector. On October 18, 2017, the company announced that it has expanded its pilot program, which is focused on providing turnkey infrastructure solutions to licensed cannabis growers. With the help of its strategic partner D9 Manufacturing, Inc. (D9), the program agenda has expanded to include the development of reliable Standard Operating Procedures (SOPs) that growers will be able to utilize to greatly reduce the risk of low yield or failed grows. To that end, D9 is focused on fine-tuning SOPs and best practices which will enable growers to cultivate with efficiency, achieve above-average yields, and produce a harvest that is visually rich, extremely fragrant, pleasantly palatable, and free of harmful chemicals.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On September 28, 2017, the company announced that its active client in New Brunswick has successfully submitted application materials and supporting documents for the purpose of acquiring business licenses to operate within the newly founded medical cannabis program that is to be regulated by the province and the Canadian government. This client will be constructing a custom 63,000 square foot warehouse featuring state-of-the-art cultivation and extraction technologies with a focus on lean manufacturing principles. ACC's client will also be placing a 50,000 square foot greenhouse on the roof of the warehouse, expanding the firm's overall output potential as they look to service the demand of the medical market as well as ramp-up and prepare for licensure and sales for Canada's upcoming 2018 recreational market.
Surna Inc. (OTCQB: SRNA) develops innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation. On November 14, 2017, the company announced operating and financial results for the three and nine months ended September 30, 2017. Revenue for the three months ended September 30, 2017 was $1,566,000 compared to $1,171,000 for the three months ended September 30, 2016, an increase of $395,000, or 34%. The gross profit for the three months ended September 30, 2017 was $391,000 compared to $417,000 for the three months ended September 30, 2016. Gross profit margin decreased by 11 percentage points from 36% for the three months ended September 30, 2016 to 25% for the three months ended September 30, 2017. The demand for the company's products and services is primarily based on the new construction of cannabis cultivation facilities in the U.S. and Canada.
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