Newly Formed Dutch Gold Subsidiary, Ascendant Analytics, Inc. to Launch Consumer Potency Testing Product
June 04 2014 - 8:30AM
Access Wire
ATLANTA, GA / ACCESSWIRE / June 4, 2014 / Dutch Gold
Resources, Inc. (DGRI.OTC), an emerging financial services company
serving the medical marijuana “MMJ” industry, today announced that
it has formed a new subsidiary, Ascendant Analytics, Inc. (AAI)
which will produce and market a consumer potency testing kit for
MMJ. The company anticipates the kits being available to
consumers by year end.
According to the Marijuana Business Factbook 2014, 66% of all
MMJ consumers believe that it is important to test for potency of
their intended purchase, and 64% believe that it is important to
test for safety. According to the same publication, the
average annual consumer spend is $1,869 per year with the average
consumer visiting a retailer three times per month.
The Company estimates that the market for test kits, priced
reasonably to the consumer, could be seven to ten times the revenue
of commercial MMJ laboratories, estimated by Factbook to be between
$15 and $20 million this year. AAI intends to approach the
retail market first, before expanding its product line to include
other possible markets verticals.
Daniel Hollis, CEO of Dutch Gold Resources commented, “We have
been evaluating this underserved market since early March. Our
findings have lead us to believe that there is, and will continue
to be, considerable demand for a reasonably priced consumer based
retail test kit. Not only do we believe there significant consumer
demand, but we also foresee heightened demand from manufacturers of
edibles as individual states begin to demand batch testing.”
Hollis continued, “Our review of certain scientific data has
given us cause to believe that AAI has the potential of uniquely
serving both markets.” The Company expects to move from the current
scientific prototype to a working prototype in order to test
production in its third quarter of 2014, with commercial production
expected by fourth quarter 2014.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Dutch Gold Resources, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
For further information, please see http://www.dutchgoldinc.com/
or contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at
404-981-7424.
Source: Dutch Gold Resources, Inc.