Denver, Colorado (CannabisNewsWire) – Growth has been the
dominant theme in the cannabis market. Estimates by Forbes put the
legal cannabis market at a value of $7.2 billion (per a February
2017 report), and the market is expected to generate more jobs than
government, manufacturing, or utilities in the coming years,
according to the Bureau of Labor Statistics. Numerous industries
are being impacted. Cultivation and medicine are just a couple of
examples, but cannabis is showing a strong presence in the retail,
consulting, and consumer sectors. SinglePoint, Inc.
(SING) (SING
Profile) has focused on business development in
multiple segments thanks to its diverse acquisition strategy, while
Surna, Inc. (SRNA) has excelled in its AgTech
focus. On the other hand, mCig, Inc. (MCIG) is
serving the consumer market and AbbVie (ABBV) and
22nd Century Group, Inc. (XXII) are heavily vested
in the vast medical arena.
SinglePoint
(SING), a holding company that originated in the
mobile technology sector, has assembled a diverse portfolio of
subsidiaries. Its own SingleSeed subsidiary has had multi-industry
impacts by addressing the unbankable aspects of the cannabis
industry. At its core, SingleSeed addresses a significant obstacle
of the marijuana industry. Because federal restrictions forbid
traditional banks from backing marijuana merchants, businesses must
rely on cash-only transactions, which presented numerous security
and accounting problems.
SingleSeed’s aim is to make cashless transactions and high-risk
credit card processing available to cannabis and other high-risk
companies. SingleSeed also offers other business development
services such as digital packages focused on helping cannabis
businesses grow their customer base and create loyalty through
website building, affiliate marketing, web traffic analysis, and
event planning. The overriding theme here is that SingleSeed is
positioned to serve the cannabis business needs of a diverse range
of businesses in the cannabis industry, regardless of the current
federal banking guidelines and the oversight of the FDIC.
A robust acquisition strategy has enabled SinglePoint to dig its
heels into several other segments of the marijuana industry,
without ever touching the plant. Among other acquisitions,
SinglePoint’s portfolio includes its investment in packaging and
distribution company Convectium (http://nnw.fm/6oZ5x), which sells machines that fill
vials with oil and which created a unique system for
filling/packaging vape cartridges and disposable vape pens; and
indoor garden supply company DIGS Hydro (http://nnw.fm/oh7ZW).
Most recently, SinglePoint announced the finalization of a
Letter of Intent to acquire 51 percent of a company in Denver,
Colorado (http://nnw.fm/rO8kK). This company is already
approaching an annual revenue of $1 million.
“We are committed to identifying and making investments in
companies that strengthen SinglePoint’s value,” company CEO Greg
Lambrecht stated in the news release. “Our goal is to find and
acquire companies we believe will add instant value as well as the
opportunity for major growth.”
As SinglePoint participates in multiple industries connected
with the marijuana market, other businesses exemplify specific
sectors. Surna, Inc. (SRNA) is an AgTech and
consulting firm. Like SinglePoint
(SING), it serves a diverse base, from cultivators and
investors, to engineers and contractors. The company is devoted to
engineering and development of cultivation facilities, and the
planning of controlled environments. Technology is its specialty;
an automation system provides all the real-time/historical data
necessary to simplify the cultivation process.
A Biosecurity Program includes testing and reporting for
facilities. The company also conducts air and surface quality tests
to ensure facilities are sanitary. Another technology offering is
the use of photocatalytic oxidation equipment to clean air of
pollutants such as bacteria, fungi, and volatile organic compounds.
Surna is a specialist in lighting as well. A vented reflector
system increases efficiency and the amount of light that shines on
a target by 9 percent. In addition, the company’s patented LED
lighting system is designed to maximize efficiency in cultivation
facilities.
Focused on a technology of a different type, mCig, Inc.
(MCIG) has targeted the consumer market with its ownership
of Vitacig, a cigarette alternative and essential oil diffuser, and
Vapolution, Inc., which produces a specialized glass vaporizer. The
company’s 420 Cloud unified community platform targets a
diversified audience of users, patients, businesses, doctors,
dispensaries, and entrepreneurs. The cross-channel platform
integrates a news media platform, job search system, and commercial
networking platform. Consumer-centric functions such as
gamification and ads are planned. There are plans to distribute the
platform through partnerships with dispensaries. MCIG is also
involved in the AgTech market, as it provides consulting and
warehouse customization that includes controlled growing systems,
energy efficiency conversion, and modular kits that function inside
existing facilities.
The pharmaceutical and medical industry has been impacted by the
cannabis market in big ways. Research and development is a major
focus by many companies looking for the latest innovative
treatments. AbbVie (ABBV) is one of them. Its
29,000 employees include scientists and researchers, manufacturing
specialists, and experts in communications and regulatory matters.
Drug development is taking place in key areas such as immunology,
oncology, neuroscience, and virology as well as general medicine.
The company has put together a pipeline that consists of potential
treatments for Crohn’s disease, rheumatoid arthritis, psoriasis,
Parkinson’s disease (Duodopa has been approved), and a wide variety
of cancers. There are also potential new drugs for hepatitis C
(Mavyret has been approved), cystic fibrosis, and diabetic
nephropathy. A variety of other products are approved for
distribution by healthcare professionals, and available depending
on the individual country.
The contribution of 22nd Century Group, Inc.
(XXII) is an industrial hemp plant that has no
psychoactive tetrahydrocannabidiol (THC). This is a bonus for U.S.
farmers who are restricted to growing crops with THC levels below
0.3 percent. Aside from this innovation, XXII is involved in the
medical sector with its clinical studies of nicotine cessation
products (it was originally a tobacco company), and a range of
consumer products in this area. But like SING, it actively pursues
business development, although in the form of partnerships, joint
ventures, and in- and out-licensing.
Today’s cannabis industry incorporates cultivators, retailers,
pharmaceutical companies, consultants, and others. Business
development is a goal of many, such as SinglePoint. Technology
providers like Surna are prevailing in the current market, as are
consumer-focused ventures such as mCig. Pharmaceutical firms such
as AbbVie and XXII, heavily involved in research and development,
are also examples of businesses making the cannabis industry as
diverse as it has become. The trends have resulted in opportunities
and revenue for a multitude of market sectors.
For more information on SinglePoint please visit: SinglePoint
(SING) or www.SinglePoint.com
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