As the lawmakers of 29 states deliberate over legalizing either medical or recreational marijuana, forward-looking marijuana companies are getting their ducks in a row.
Here’s an update on four such companies:
Greengro Technologies (OTC PINK: GRNH), a company that provides construction and maintenance services for medical and recreational marijuana growers, said on Feb, 4, 2014 that it has finalized the core management team of BP Gardens project.
This is an ambitious agriculture sciences project spanning two locations in prime California real estate. A key component of the projects includes cutting-edge aquaponics production for commercial sales of fruit, vegetables and fish, with additional features soon to be announced. This type of technology and agricultural knowhow being developed and applied by Greengro is a critical component for ensuring the success of marijuana growers.
Appoints Strong Seasoned Management Team
BP Gardens CEO and Director of Sustainability Projects, Rafael O. Quezada, has appointed Nancy Caruso to be on-site marine biologist and recirculating water farmer with Josh Graybiel providing design of the aquaponics and greenhouse systems.
Greengro says that Ms. Caruso brings a wealth of experience with stints at Aquarium of the Pacific, the California CoastKeepers, Disney and others, in addition to multiple, ongoing educational aquaponics programs initiated in schools throughout Orange County.
Perfect Positioning To Capture Marijuana Growers’ Business
This project and others the Nevada-based company is working on puts it in a strong position to be the go-to company for new and established marijuana growers. These projects also help to build the company’s overall brand and credibility.
GRNH share price closed at 42 cents on Feb. 10, down 6 cents from its closing price of 36 cents the previous day.
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Already Established in Prime Location
Hollywood, Calif.-based Medbox, Inc. (OTC PINK: MDBX), a maker of patented, self-service, identity-verifying medicine dispensers, believes it is perfectly positioned to cash in on the burgeoning medical marijuana market in California.
“Legal marijuana is one of the most rapidly expanding medical markets in the U.S., projected to exceed $3 billion in 2014,” said Dr. Bruce Bedrick, chief executive officer, Medbox, Inc., in a written statement. “This rapid growth is creating significant opportunities and Medbox is positioned as the first mover and clear industry leader in this burgeoning sector. Our offerings include sophisticated and comprehensive consulting services for dispensary permit applicants and cultivators, as well as offering dispensing technologies and vaporizers. The breadth and depth of our offerings position us to strengthen our leadership role and we felt it was an appropriate time to retain proven IR counsel to help us raise our visibility in the investment community, communicate our investment thesis and broaden our shareholder base,” he added.
Medbox’s dispensers even have the precaution of requiring a finger print check for identity. The company hopes to ultimately place these dispensers in the thousands of clinics and approved facilities that it hopes one day will dispense medical marijuana.
New Patents Awarded
At the same time, Medbox is developing and patenting even more practical products for the cannabis industry.
On Jan. 21, Medbox announced that it has expanded its intellectual property portfolio with the confirmation that it has been awarded two additional patents for its Vaporfection brand of products. The announcement was made in conjunction with a comprehensive shareholder update, and Form 10 filing with the Securities and Exchange Commission.
The patents, awarded to the company’s wholly owned subsidiary, Vaporfection International, Inc., specifically relate to:
– Vapor Glass™ technology, which features the use of laboratory grade glass encased heating element positioned in the center of the laboratory grade glass heating chamber air pathway. This unique Glass on Glass design results in a superior quality and efficient air/heat flow vapor, which ensures that nothing but the purest convection heated air enters the plant material, which releases the purest, naturally flavored and virtually odorless vapor into the users’ respiratory system. This method is unlike most vaporizers that apply conduction heat to the plant material using ceramics, metals and other possible contaminates in the air pathway.
– Vapor Sense™ technology, which features a touch screen interface linked to an automatic temperature sensing control system. The technology uses a digital microprocessor temperature controller directly connected to a thermo coupling temperature sensor in the heating chamber. It also incorporates a fixed temperature setting option, auto shut-off, and cool-down safety features.
MDBX share price closed at $28.50 on Feb. 10, up $3.25cents from its closing price of $25.25 the previous day.
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A Diversified Approach to Cannabis Industry
On Feb 10, Medical Marijuana Inc. (OTC PINK: MJNA) share volume continued to be robust, with 26,596,986 shares changing hands, higher than its 3-month average of 24,028,896 shares.
The continuing surge in volume was probably triggered by a Feb. 5 announcement that HempMedsPX™ – it subsidiary is expanding global sales based on CannaVest Corp. (OTC:CANV – News)’s subsidiary, PhytoSPHERE Systems’ 1,500% increase in production capability for industrial hemp-based cannabidiol (CBD) oil. PhytoSPHERE’s San Diego laboratory houses specialized equipment for high pressure processing of the world’s most abundant source of industrial hemp-based CBD oil.
Medical Marijuana’s has employed a formidable diversified strategy in order to establish a foothold in this burgeoning industry.
For example, on Jan. 31 the San Diego holding company said that it had entered into an agreement with an unnamed company to sell Medial Marijuana’s anti-aging cream through the unnamed company’s in-home sales force.
According to the release, the first purchase order from the home-based business organization will be $1,072,251 in products that will ship before the end of the first quarter.”
This positive news came a few days after Medical Marijuana announced its newly-formed subsidiaries would be providing armored transport services for companies in the cannabis industry.
Marijuana Inc.’s subsidiary, Wellness Managed Services, has gained this capability by purchasing a 50% stake in MPS International.
Cannabis Security Issue
In a written statement, MPS International’s CEO Mike Roberts outlined some specifics about the new armored marijuana transport service.
“Large amounts of product will be moved from grow to wholesaler, warehouse, testing facilities, bakeries, infusion laboratories and finally to retail locations,” Roberts said. “Post transaction, and especially right now with federal regulations prohibiting FDIC insured banks from offering financial services to cannabis industry businesses, large amounts of cash will need to be transported between parties securely as this creates an easy target for predators and competing businesses,” he added.
Potentially Lucrative Opportunity
In the release, Roberts went on to outline the potential opportunity that existed for providing armor transportation for currently legal cannabis businesses. He pointed out that there are now about 448 dispensaries in Colorado alone, while in California there are an estimated 2,700 dispensaries, co-operatives, wellness clinics, and taxi delivery services.
“Using an average of one armed security officer working 10 hour shifts, 7 days per week billing at the industry standard of $25/hour armed, 52 weeks per year, annual gross revenue created by just 11 locations is more than $1,000,000 for just static physical security,” Roberts explained.
Once the company establishes this footprint, it says it will evaluate other cannabis markets such as those in Canada.
MJNA share price closed at 30 cents, down 2 cents from its closing price of 32 cents the previous day.
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Robust Stock Volume Continues
Despite recently being forced to report the collapse of a deal with a medical-marijuana dispensary to use the dispensary units it sells, its stock volume is still soaring.
On Feb. 10, Tranzbyte’s stock volume hit 508,583,424 shares. This nearly four times its three-month average of 138,275,092 shares.
This volume surge comes only days after Tranzbyte announced it had selected Cyber Kiosk Solutions, Inc. to provide the final component of the Age/ID/Fraud verification for its marijuana vending machine and its integration currently in progress. The release states that CYBK’s software is custom designed for use in the marijuana industry and is expected to be one of the first approved pieces of software to be used by and within the state of Colorado.
According to Tranzbyte, an earlier version of the software is operating in over 6,000 drug and liquor stores around the country where it is currently used for Age/ID/Fraud verification in the purchase of alcohol, tobacco, and pharmacy drugs.
A Major Walk Back
On Jan. 28, just three days after the Tempe, Ariz.-based company had told the world it had reached a verbal agreement with PARC, a licensed Arizona dispensary in Phoenix to use its dispensary machines, it announced that a final written agreement could not be achieved.
The second about-face announcement then tried unsuccessfully to put a positive spin on the major misstep by saying that Tranzbyte expects to announce its new choice of lead dispensary locations within the week.
“While it would have made some sense to have our premiere location close to the Tranzbyte main offices, we will treat this as an opportunity to place our machines within states that possess a more open regulatory environment,” Tranzbyte president, David Gwyther said, in a terse written statement.
It appears that some industry experts, who were unimpressed by the Tranzbyte’s first announcement, were right to dismiss it as just more hype backed with very little substance.
That’s because buried deep within the first glib PR release, Tranzbyte’s President David Gwyther would not commit to a date when the first medical-medical marijuana vending machine would actually be up and running.
“We expect the arrival of our first machine within the next few weeks,” Gwyther said in a written statement. “Originally, our first automated dispensary was slated for delivery by the end of 2013. However, enhancements and refinements of the machine’s capabilities in November and December caused Tranzbyte to roll back the arrival date about a month,” he added.
On Feb. 10, ERBB share price closed at 2 cents, unchanged from the share price at the close of the previous day.
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