Healthcare Technology Heavily Influencing the Legal Cannabis Patient Industry

Tuesday, February 7, 2017 Drug News
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PALM BEACH, Florida, February 7, 2017 /PRNewswire/ --

The injection of modern technology into the developing world

of cannabis and legal medical marijuana is helping the industry climb to new heights and increase engagement with consumers, especially when it comes to cannabis patients in the medical facet of the industry. The synergy created between modern technology
and the explosive cannabis industry is allowing leaders in marijuana to leverage consumer technology engagement for companies such as Reliq Health Technologies Inc. (OTC: RQHTF) (TSX-V: RHT), Acology Inc. (OTC: ACOL), Cannabis Science, Inc. (OTC: CBIS), Lifestyle Delivery Systems Inc (OTC: LDSYF) and mCig, Inc., (OTC: MCIG)  

Reliq Health Technologies Inc. (OTCQB: RQHTF) (RHT.V), is pleased to announce that it has entered into a Memorandum of Understanding (MOU) with Invictus MD Strategies Corp. (IMH.V on the CSE exchange and also trading on the OTC Markets under the symbol: IVITF;) ("Invictus MD") to develop a mobile application for cannabis patients and consumers and their clinical care teams. Reliq Health, a healthcare technology company focused on developing innovative mobile health and telemedicine solutions, has developed a novel SaaS (software as a service) solution for the community health care market. The solution provides automated remote patient monitoring in the home and secure cloud-based communication, care planning and collaboration for all members of the patient's circle of care. Reliq's secure platform allows clinicians to collect comprehensive data on patients' clinical conditions, medication usage, symptoms, side effects and behaviours - creating a wealth of population health data. Read this full release and recent news releases for Reliq Health Technologies at http://marketnewsupdates.com/news/rqhtf.html.

"Studies consistently show that providing patients with the tools they need for self-management of their health conditions produces better health outcomes and reduces healthcare costs. Cannabis is prescribed to treat a wide range of conditions including arthritis, glaucoma, side effects from chemotherapy, chronic pain, multiple sclerosis and post-traumatic stress disorder. Our cannabis app allows patients to track usage and record symptoms specific to their clinical condition, allowing patients and their care providers to determine optimum strain, dosing and mode of administration. Our platform will improve access to care by connecting patients with physicians in their community who have experience with medical marijuana, and supports physician-approved automated prescription refills through participating producers," said Dr. Lisa Crossley, CEO of Reliq.

Invictus MD's Chairman and CEO, Dan Kriznic, said, "Our wholly owned subsidiary: Poda Technologies Ltd. ("Poda") is set for a launch in Q2 2017 of its Poda Pod vaporizer product which will provide an effective, reliable and convenient way to vaporize cannabis that is designed to appeal to modern retail and medical consumers." The Poda Pod vaporizer product, made with medical-grade components, has been designed to connect to users' smartphones via Bluetooth to provide real-time information about dosage, product characteristics, track remaining contents, find vendors nearby, and customize their experience. Agreements are being negotiated to license the PODA products to the Access to Cannabis for Medical Purposes Regulations ("ACMPR") and licensed producers in Canada, helping those producers better reach and serve consumers with convenient, refillable devices.

In other cannabis and medical marijuana sector related performance and announcements in markets of note: 

Acology Inc. (OTC: ACOL) closed up over 13% on Monday trading big volume of over 77.8 Million shares by the market close. Acology announced on Monday that January was the biggest sales month in company history, shattering previous marks achieved during the last quarter of 2016. Acology executives have expressed strong confidence that the first quarter of 2017 would continue this trend, basing their optimism on continued expansion in Canada and the addition of new, complimentary products and product lines. Company income rose 33% above the same period last year. Unit sales of all products, led by Acology's signature product, the MedTainer™, increased by 25% over last year.

Cannabis Science, Inc. (OTC: CBIS) closed up slightly on Monday trading over 21.8 Million shares by the market close. Cannabis Science, together with its subsidiaries, develops, produces, and commercializes phyto cannabinoid-based pharmaceutical products primarily in the United States. The company is involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance.

Lifestyle Delivery Systems Inc (OTCQB: LDSYF) closed up over 12% at $0.5752 on Monday trading over 800,000 shares by the market close. Lifestyle Delivery Systems produces and sells cannabis infused strips. It develops and licenses a proprietary filmstrip technology that can be used to produce oral delivery systems for energy elixirs, herbal remedies, and a smokeless alternative option to medical and recreational users of cannabis

mCig, Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced on Monday its preliminary earnings and financial results for its third quarter for FY 2017, ending January 31, 2017. MCIG generated $1.3M in revenue through its construction, CBD, and e-Cig divisions during the third quarter bringing its total revenue for the FY to $2.2M. The revenue generated represents a 546% increase from the same period last year, and a 204% increase from last quarter. MCIG's net income for the quarter was $898K (with a $118K adjusted net income) bringing its total net income YTD to $716K ($227K adjusted net income), a 32% net margin. The company generated $341K in cash from operations and has increased its cash, and cash equivalents, position by 311% this fiscal year to $420K. MCIG reports $1.26M in current assets with only $287K in current liabilities giving it an acid test ratio of 4.3:1, its highest rating in company history.

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