DigiPath Inc. (OTC: DIGP), a leader in cannabis testing, education, and media, is set to open its Nevada-based marijuana testing facility in just weeks. After navigating a complex regulatory pathway to licensure and purchasing over a million dollars worth of equipment, investors are eagerly awaiting the grand opening the beginning of what could become a significant long-term revenue stream.
“I think the industry will be up and running within the next six months,” said President & CEO Todd Denkin in a recent News 3 Las Vegas interview. “I think a year from now we’ll be in full production, so there will be harvests happening, there will be stores filled with product, and all of that will happen. I think it will take about a year [for the industry] to reach its full capacity.”
Many dispensaries are eagerly awaiting the opening of the cannabis testing facility, which itself is awaiting guidelines and rules from the state, since they need a lab to sign-off on any product before selling it. For every five pounds of marijuana grown, 12 grams will be taken to cannabis testing facilities to determine its potency and screen for any contaminants before being sold to the public.
According to Review Journal, the committee making these decisions on behalf of the government has finally made a recommendation as of last week and the testing guidelines appear to finally be in place. DigiPath Labs’ own inspection has already taken place earlier this month and the team – with its millions of dollars worth of equipment – is standing ready to open as soon as possible.
The near-term prospects for official guidelines to be released and the potential to become the first company to generate revenue from the cannabis industry within the state make the stock worth a second look for investors interested in the space.
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