PHOENIX, Jan. 17, 2013 /PRNewswire/ -- Tranzbyte Corporation (OTC: ERBB) is a driving force behind Altitude Organic Corporation and its suite of subsidiary companies. Tranzbyte (www.tranzbyte.com) expects to continue to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming." Companies that qualify with revenues and growth can decide to become public on their own after they agree to issue a shareholder dividend to Tranzbyte and all ERBB shareholders.
The company's Altitude Organic Corporate subsidiary continues to make headway in the fast expanding cannabis industry. Washington DC-based Marijuana Policy Project predicts that 10 additional states may seek to pass medical marijuana regulation within the coming year.
Altitude Organic Managing Director, Brian Cook stated, "Our long term vision in this space is beginning to materialize nationally. Our experience in the industry over the last three and half years, along with having two fully licensed Altitude Organic Medicine retail dispensary's qualified under state and city authorities in Colorado, positions us perfectly for expansion now."
Altitude Organic is seeking to add many brand-allied, Altitude Organic stores as we help to lead the standardization and commercial branding of the new industry. Colorado currently has the industry's best regulatory protection with state Department of Revenue oversight. Recently, Mr. Cook has spoken with many industry professionals who believe we are truly underestimating the number of adults over the age of 21 that are likely to become cannabis customers when the new "adult use" laws take effect in 11 months. Many of us believe we are likely to see 2 million or more customers in Colorado in contrast to the current entire industry having only 100,000 licensed medical patients to date. Our opportunity is to lead the transition from medical to adult use in Colorado, while aligning many businesses nationally to capture greater market share."
A Look Ahead: 10 States That Could Legalize Medical Marijuana in 2013
Last week, Tranzbyte Corporation was re-admitted into Depository Trust Company (DTC) and maintains a "Current" standing with OTC Markets, the regulatory body for over the counter pink sheet companies. Lately, the company has announced its intention to file all necessary paperwork to the SEC and become a fully reporting company on the Bulletin Board stock exchange. Once accomplished, admission to the Bulletin Board will broaden the company's potential shareholder reach and improve the firm's transparency.
Together with Tranzbyte's unique "dividend farming" concept planned for some of the company's more successful subsidiaries, Tranzbyte has developed worldwide expertise in its ability to provide edgy, "disruptive" startups and development stage companies the capital and exposure necessary to become successful in a relatively short period of time. Once successful, a subsidiary can be "spun out" as their own publicly traded company, while Tranzbyte / ERBB shareholders earn dividends upon each successful launch.
Tranzbyte, headed by its president, David Gwyther, maintains US office in Scottsdale, AZ with satellite offices in Hong Kong, China. Its Hong Kong office is busy at work developing the introduction of popular US products into Hong Kong and mainland China.
The Tranzbyte Corporation (www.tranzbyte.com) is a driving force behind Altitude Organic Corporation. The company expects to continue its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming," Companies that qualify and decide to become public on their own will agree to carve out shares for Tranzbyte and their ERBB shareholders.
Last year, Tranzbyte acquired ProximaRF – a leading-edge company that produces a line of products supporting leading-edge RFID technology.
Tranzbyte also houses the company's 10-year-old technology division which is actively engaged in the sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum™ and FlixStix -- technologies that enable distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
Altitude Organic Corporation
Altitude Organic Corporation is the first publicly traded medical marijuana dispensary brand in the world. Beginning in 2009, the company has developed retailing, branding, and commercial cultivating strategies in conjunction with its licensed medical marijuana retail dispensaries operating under the Altitude Organic Medicine brand name. The company has operated in California, Colorado, and Arizona. Altitude Organic Corporation is currently targeting expansion through dispensary and caregiver managed partnerships, as well as outright acquisition in 'for-profit' medical marijuana states. The company seeks to capture market share in the fast growing, multi-billion dollar cannabis industry. For more information visit www.altitudeorganix.com.
ProximaRF was founded in 2006. The company specializes in the development and control of software for Radio Frequency Identification tags called RFIDs. Proxima is currently working on an RFID that can be placed with large legal marijuana shipments so they can be tracked from their grow operation to the dispensaries or other legal sales outlets. This technology should be of invaluable use to both the marijuana seller as well as to law enforcement nationwide.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Companies and Contacts:
Tranzbyte Corporation – Hong Kong
Mr. Jack Martin, Managing Director
Rm 308, 3/F, Kai Tak Commercial Building 317-319
Des Voeux Road Central, Hong Kong (SAR)
Altitude Organic Corporation
Brian J. Cook, Managing Director
14220 N. Northsight Blvd., Suite 139-A
Scottsdale, AZ 85260
SOURCE Tranzbyte Corporation