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
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