CORONA, Calif., Oct. 27, 2014 /PRNewswire/ -- AVT, Inc. (OTC
Markets: AVTC) (www.autoretail.com), a leader in automated
retailing systems, safe and secure storage systems, and custom
vending machines, commented today on the recent report in the
Washington Post that said the legal cannabis industry could reach
revenues of $35 billion by 2020.
To put that figure in perspective, this is more annual revenue
than the NFL (currently $10 billion),
and is on par with the newspaper publishing industry ($38 billion) and the confectionary industry
($34 billion).
Shannon Illingworth, AVT Founder
and Chairman, said one of the keys to achieving this growth will be
in automation and compliance. "We build systems that add security
and transparency to the dispensing process, by securing the
cannabis in military-grade storage systems, and creating an
unalterable digital trail of every purchase," he said. "This
provides government regulators and tax agencies with a verifiable
stream of accurate information, which not only completely removes
any ambiguity, but also protect the dispensaries by keeping them in
complete compliance at all times."
"Considering the legal marijuana industry generated
roughly $1.53 billion in revenues in 2013, according to
industry research group Arcview Market Research, it's reasonable to
assume there's a lot of growth potential between now and then," the
Washington Post reported.
"We are in the best position to profit from the rapidly growing
marijuana industry," Illingworth commented. "We are not involved in
any of the riskier sectors of the industry such as growing or
dispensing, but can participate in the market growth by providing
automated systems through our clients," he added. "Every time
another state or city allows legal cannabis sales, we increase our
base of potential sites for our state-of-the-art systems."
For more information, call AVT at (877) 424-3663, or visit:
www.autoretail.com.
Connect:
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Twitter: twitter.com/avtincca
Forward-Looking Statements
The statements herein
constitute forward-looking statements within the meaning of federal
securities laws. Such statements are based on our current
expectations and are subject to significant uncertainties, which
are beyond our control. Forward-looking statements are subject to
risks and uncertainties. We do not take any obligation to update
any forward-looking statement to reflect events or developments
after the statement was made.
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SOURCE AVT, Inc.