NetworkNewsWire Editorial Coverage: When George Washington cultivated cannabis at his estate in Mt. Vernon, he was continuing a tradition that dates back 10,000 years. There are indications that cannabis sativa, grown as hemp, was farmed for its fiber content in Neolithic times. Since then, numerous uses have been discovered. As hemp, the plant has furnished a variety of commercial and industrial products. Hemp seeds are also edible, as they are high in protein and are a rich source of vitamins, minerals and dietary fiber. And with 483 distinct chemical compounds, 66 of which are cannabinoids, the uses to which cannabis can be put are still being discovered. The future looks bright to SinglePoint, Inc. (SING) (SING Profile), GW Pharmaceuticals (GWPH), American Cannabis Company (AMMJ), AeroGrow International, Inc. (AERO) and MassRoots, Inc. (MSRT), a roster of companies who are reading those cannabis leaves and betting on their potential.
SinglePoint (SING) grew out of a text messaging and mobile payments business and has embarked on a strategy of acquiring small to mid-sized companies that offered mobile technologies. While initially focused on operating a mobile commerce and communications platform for vendors who wanted to accept mobile credit card payments, about two years ago SinglePoint began focusing on how to apply its mobile payments and merchant processing solutions to medical marijuana dispensaries.
Today, its POS terminals have the potential to allow patients and patrons of marijuana establishments to use their debit cards to make purchases. Now that seven of the eight marijuana initiatives on the November 8 ballot have succeeded, including those in California and Florida, the company is reviving its strategies to court marijuana dispensaries and recreational shops.
As it continues its acquisition strategy, SinglePoint is, however, playing it safe by only targeting businesses that do not ‘touch the plant.’ An example is the stake taken recently in the Jacksam Corp., doing business as Convectium, a profitable California-based provider of equipment, branding and packaging solutions for the cannabis industry.
Convectium has developed ‘the world’s first’ oil-filling system for cartridges and disposable vape pens for wholesale distribution to dispensaries. The company’s 710Shark and 710Seal system can fill and package 100+ cartridges or disposable vape pens in 30 seconds, making it the fastest filling and sealing system of its kind. With a market that extends to over 52 countries, Convectium expects 2017 revenues to continue to increase year over year.
Its treasure trove of close to 500 substances makes cannabis as close to being a panacea as ever existed. Each unique compound in the plant has, no doubt, some medicinal or other practical application. Pioneering outfit GW Pharmaceuticals (NASDAQ: GWPH) (LSE: GWP) has already exploited that possibility by bringing to market a product based on the two main cannabinoids: tetrahydrocannabinol (THC) and cannabidiol (CBD). Sativex, as it is known, is an oromucosal spray that has been approved by regulatory authorities in 29 countries to treat spasticity due to multiple sclerosis (MS), with astounding success. GW Pharmaceuticals is now exploring the use of other cannabinoids to treat a variety of serious unmet medical needs such as those related to autism and schizophrenia. Its present lead candidate is Epidiolex, which is currently being tested to treat certain rare and severe early-onset, drug-resistant epilepsy syndromes.
Like SinglePoint, The American Cannabis Company (AMMJ) employs a “hands off” approach by offering “end-to-end” solutions to existing and aspiring participants in the cannabis industry. AMMJ provides business planning and market assessment services and will assist with state licensing procurement, creation of business infrastructure and operational best practices. The company also has a line of branded products that include The Satchel, a child-resistant pouch, SoHum Living Soils, the Cultivation Cube and a High Density Cultivation System.
Meanwhile in Boulder, Colorado, AeroGrow International (AERO) is promoting its expertise in aeroponic garden systems to the cannabis crowd. The company has been marketing its indoor garden line under the Miracle-Gro AeroGarden brand since it entered into a strategic alliance with Scotts Miracle-Gro. Although not advertised as such, the AeroGarden system is widely used to grow cannabis at home. Sales are on track to almost double from $19.6 million in FY 2016 to $35 million in FY 2017.
And in the cybersphere, MassRoots (MSRT) has registered more than 1 million users on its platform that enables consumers to rate products and strains of cannabis based on their efficacy and then present that information in easy-to-use formats for consumers to make educated purchasing decisions at their local dispensary.
From these developments, it looks like cannabis will be around for quite some time to come.
For more information on Singlepoint visit: Singlepoint, Inc. (SING) or www.SinglePoint.com
NetworkNewsWire (NNW) is an information service that provides to users (1) access to our news aggregation and syndication servers, (2) enhanced press release services, and (3) a full array of social communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
New York, New York