Abattis Bioceuticals Corp. (OTC: ATTBF), a specialty biotechnology company focused on cultivation, licensing, and marketing compounds, equipment, and services in the medical cannabis industry, recently appeared on the Midas Letter where CEO Mike Withrow was interviewed by James West. In the interview, Mr. Withrow discusses the company’s value proposition and catalysts ahead.
“I would describe [Abattis] as a company that’s vertically integrated and diversified to operate in the area of botanical drugs and medical marijuana happens to be one of the low hanging fruits right now,” said CEO Mike Withrow in the interview. “Our value proposition to investors is [sic] that we are a diversified company that has its hands in an area that can participate in the burgeoning area of medical marijuana via its controlled cultivation environments, extraction technologies, payment systems, and the lab and sciences area of the company.”
Mr. Withrow also explained that Abattis was a “truly international company” with a subsidiary called Abattis Bioceuticals International that’s a Washington C-Corporation that owns 51% of Phytalab – a Washington State testing facility. The firm also owns a 34% equity interest in Instant Payment Systems, which is also a Washington LLC. These aspects provide investors with exposure to both Canadian and U.S. cannabis markets in many different ways.
“[After positioning ourselves], implementation of the businesses takes place and getting the lab that just opened in Seattle last week [was a milestone],” said Mr. Withrow in the interview addressing near-term catalysts. “Then, attending the MMPR license with Health Canada is going to be another instrumental milestone for the company … which will get us in to cash flow situation.”
Finally, Mr. Withrow indicated that the company’s business model is focused around being profitable with around 500 patients or customers.
To view the full interview, visit the Midas Letter’s website.
Shares of Abattis Bioceuticals Corp. were trading about 1.32% lower in early trading on Thursday morning.
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