CORAL SPRINGS, Florida, October 5, 2016 /PRNewswire/ --
The cannabis industry continues to evolve in a variety ofways, with the most recent wave leaning on the tech industry innovation as today's leaders aim to engage consumers through mobile applications and other forms of interactive technology. The Cannabis sector this week continues to shine for Arcturus Growthstar
Arcturus Growthstar Technologies Inc. (OTC: AGSTF) (CSE: AGS.CN) is pleased to announce that it has closed on its transaction to acquire a large portfolio of revenue generating Apps and source code ("App Portfolio"). This all-stock acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of marijuana centric apps. It also positions the Company to receive consistent monthly income, as the App Portfolio's trailing 12-month EBITDA was USD $139,000 or CDN $183,000.
Read the full Arcturus (AGSTF) Press Release at: http://financialnewsmedia.com/profiles/agstf.html
"This app portfolio and experienced team lays the foundation for our ability to quickly release new agriculture and legal cannabis related apps without having to go outside of our own company for development and monetization expertise. At the same time, it provides us with a current stream of cash flow while we are building our vertical farming business," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "With Deere & Company (DE), a NYSE listed company and one of the largest equipment suppliers having over 20 mobile apps in the agriculture market, we felt it important to have our own app division as well." "For the month of September, the All-In-One App Portfolio revenue grew by 50%, serving up over 57,000 Facebook ad impressions and over 26,000 AdMob impressions, which puts us at an annual run rate of almost 1,000,000 ads for the next 12 months," comments Mikael Hovhannisyan, the app portfolio manager. "With our plans to increase the portfolio's number of apps by two to three times, we expect the revenue and ad impressions numbers to only keep going up."
Yesterday's performers in the marijuana sector were led by:
CV Sciences, Inc. (OTCQB: CVSI) closed up over 14% at $0.381 on over 2.6Million shares traded by the market close on Tuesday. According to OTCMarkets.com CVSI has just over a $17 Million Market Cap. CV Sciences operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
General Cannabis Corp. (OTCQB: CANN) closed up over 18% at $2.90 on over 2.2Million shares traded by the market close on Tuesday. According to OTCMarkets.com CANN has just over a $38 Million Market Cap. General Cannabis is the all-in-one resource for the highest quality service providers available to the regulated Cannabis Industry. We are a trusted partner to the cultivation, production and retail side of the cannabis business.
GrowBlox Sciences, Inc. (OTCQB: GBLX) closed up over 7% at $0.345 on over 1.1 Million shares traded by the market close on Tuesday. According to OTCMarkets.com GBLX has just over a $20 Million Market Cap. Growblox announced that it has acquired two additional Medical Marijuana Establishment licenses in Clark County, Nevada. Growblox has formed GB Sciences Las Vegas, LLC. in order to acquire these two licenses. Growblox will be the owner/operator of the businesses and own 60% of the entity with the option to own up to 80%.
Terra Tech Corp. (OTCQX: TRTC) closed up slightly at $0.4025 on over 8.6 Million shares traded by the market close on Tuesday. According to OTCMarkets.com TRTC has just over a $137 Million Market Cap. Terra Tech operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology. Blum's retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions.
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