Blue Line Protection Group Inc. (OTC: BLPG), a leader in providing regulatory compliance, security consultation, and protection services to high-value asset industries, recently announced a new security and transportation contract with a major marijuana dispensary and grow facility serving several different locations throughout the State of Colorado.
“Lawful cannabis businesses across Colorado realize that securing their retail establishments and grow operations is crucial consideration in their day-to-day operations,” said Blue Line CEO Sean Campbell in a recent press release announcing the new contract. “Our new contract with LivWell further establishes Blue Line as the premier protection and transportation provider in the industry.”
Under the terms of the agreement, Blue Line will provide 24/7 protection services to LivWell’s grow facility located near Denver, Colorado, helping to ensure that their grow operations remain secure and profitable. The company will also provide secured transportation services for LivWell’s tax revenue transports in order to provide greater security for cash and product movements.
Blue Line reported revenue of $237,000 during the quarter ended June 30, 2014, as it transitions into the cannabis security industry. On its balance sheet, the company reported $875,000 in total assets compared to $65,000 in total liabilities, as of June 30, 2014, signaling that it remains in a strong financial position. Management continues to accumulate contracts that should boost future financial results.
Shares of Blue Line Protection Group Inc. fell more than 20% as of Tuesday’s close following the news release, although volume was just over 26,000 shares.
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