New York, New York (NetworkNewsWire) – From Main Street to Wall
Street, the cannabis industry is branching out into a variety of
business opportunities for not only the key players involved but
smaller startup firms as well. Projected growth estimates for the
legal marijuana industry are impressive, with ArcView Market
Research predicting a massive leap from just under $7 billion in
2016 to $22 billion by 2021, and that’s just the North American
market. Globally, the market is estimated to reach over $55 billion
by 2025. No matter how you crunch the numbers, a hefty segment of
that revenue is streaming from subsidiary services supporting the
cultivation, processing and eventual sale of the highly regulated
plant. For companies like SinglePoint, Inc. (SING)
(SING
Profile), Medical Marijuana, Inc. (MJNA), Solis Tek Inc.
(SLTK), Supreme Pharmaceuticals Inc. (SPRWF) and
Scotts Miracle-Gro Company (SMG), moving into
parallel business ventures makes economic sense.
SinglePoint’s
(SING) approach of building a diversified portfolio
through the acquisition of high-potential, ancillary
cannabis-related targets is paying off. Earlier this month,
SinglePoint acquired a majority stake in Arizona-based Dr.
FeelGood, a leading medical marijuana distribution company whose
extension plans include adding a proprietary delivery and ordering
technology application. Also in the pipeline is a Dr. FeelGood
mobile application that will both enhance the experience for users
and streamline the company’s operations. Once completed, the app
will allow both SinglePoint and Dr. FeelGood to license the
technology to other distribution companies throughout the United
States (http://nnw.fm/3CqEj).
SinglePoint’s earlier majority purchase (http://nnw.fm/3YFg6) in Jacksam Corp. (dba
Convectium), a profitable California-based provider of a
revolutionary vape pen filling/sealing system, moves SinglePoint
closer to its goal of adding revenue-enhancing joint-ventures to
its portfolio. Include SinglePoint’s 90 percent stake of
California-based Discount Indoor Garden Supply (“DIGS”) Hydro
(http://nnw.fm/Op4V6), which provides
cultivation hardware and consulting services to the cannabis
industry, and it’s apparent that the company’s strategy is working.
With these acquisitions, SinglePoint’s revenue has increased
378-fold in comparison with the first quarter of 2017, ideally
positioning the company to further increase revenues. This approach
highlights SinglePoint’s winning philosophy of acquiring an
interest in undervalued subsidiaries, which translates into a rich,
diversified holding base.
Meanwhile, SinglePoint’s SingleSeed subsidiary (www.SingleSeed.com) supplies various services
to marijuana businesses and has become a hub for dispensaries that
are looking for payment processing solutions and other business
tools. SingleSeed also provides payment processing and text message
marketing solutions for marijuana businesses, and it has taken a
proactive approach to solving an industry-wide payment problem
that’s plaguing the expanding legal cannabis market: a way to
process debit and credit card transactions independent of banks and
the FDIC.
The choices are endless when it comes to providing support to an
industry riddled with regulations imposed at the federal, state and
local levels. Most of those regulations target companies that
actually “touch” the marijuana plant, leaving secondary business
ventures with fewer legal and financial risks. As a result, firms
that provide testing and lab services, banking and payment
processing, insurance, accounting, legal work, technology and
software, security, professional education and training,
hydroponics, lighting and packaging – pretty much anything that
involves cannabis without touching the actual plant itself – are
earning solid profit margins.
Medical Marijuana, Inc. (MJNA), is another
company with a portfolio of products and services focused on
serving the legal hemp industry. One of its subsidiaries, KannaLife
Sciences, a pharmaceutical and phyto-medical company, has signed
former three-time NFL Pro Bowl and Kansas City Chiefs placekicker
Nick Lowery to its corporate advisory board. Lowery is tasked with
speaking out about chronic traumatic encephalopathy (CTE), a
degenerative disease caused by repeated head trauma. KannaLife’s
efforts to bring a clinically-approved treatment for CTE to market
could be a game changer for treatment of this devastating type of
head injury. Evidence of CTE is being seen in post-mortem
examinations of prominent football players who suffered severe
violent mood swings, depression and other cognitive difficulties
that may have contributed to their deaths, according to a company
news release.
On the other end of the spectrum, you can’t produce a quality
pharmaceutical product without first providing the right atmosphere
for growing the cannabis plant. Solis Tek Inc.
(SLTK) has been bringing lighting solutions to the
cannabis market for nearly a decade, providing products that
commercial cannabis growers depend on for a more consistent grow, a
better end product, and, ultimately, a more significant, profitable
harvest. According to a recent test of six lighting companies and
products specifically serving the cannabis industry, Solis Tek’s
Digital Lighting solutions scored highest in overall value for
cultivators. Solis Tek was the first cannabis lighting company to
offer a “light diet,” which is now the standard among many top
commercial cannabis growers.
With the industry moving so fast, it’s crucial for companies
that provide medical-grade cannabis to keep up with the momentum.
Canada-based Supreme Pharmaceuticals
(SPWRF), through wholly-owned subsidiary 7ACRES,
combines the best technology of indoor production with the
efficiencies and sustainability of a greenhouse. As a federally
licensed producer of medical cannabis under the country’s Access to
Cannabis for Medical Purposes Regulations (ACMPR), Supreme
Pharmaceutical is making its name known among firms that serve
patients of medical marijuana. In a news release, Supreme
Pharmaceuticals reported its first sale of dried cannabis to Aurora
Cannabis Inc, one of Canada’s leading licensed producers serving
over 19,000 registered patients.
While not directly involved in the cannabis industry – and
that’s really the point of some of these support businesses – there
are huge corporations getting into the hydroponics end of growing
plants. Hydroponics, which allows plants to be cultivated by
placing roots in liquid nutrient solutions rather than soil, is
booming. Scotts Miracle-Gro Company (SMG),
globally known for its lawncare and plant products, has been
snapping up specialty fertilizers, lighting and other hydroponics
supply companies, increasing its footprint in a specialty market
that includes cannabis. Among the company’s investments are Gavita,
a Dutch grow lighting company; Botanicare, a plant nutrient and
hydroponics products provider; Boulder’s AeroGrow, an indoor
gardening company; and California’s General Hydroponics. In a news
release (http://nnw.fm/4QoAj), company’s chairman and CEO Jim
Hagedorn reminded investors that the strength of the company’s core
U.S. business is being strengthened by the success of the
hydroponics businesses in its portfolio.
There’s an old proverb which accurately reflects today’s
business opportunities when it comes to the rapid changes facing
the cannabis industry as it becomes more acceptable in the medical
community and with the public at large: “Necessity is the mother of
invention.” Companies that buckle in for a wild ride, plan
accordingly and aren’t afraid to be creative and step into the role
of service provider are sure to rise to the top.
For more information on SinglePoint please visit: SinglePoint
(SING) or www.SinglePoint.com
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