NEW YORK, January 4, 2018 /PRNewswire/ --
The regulated cannabisindustry has experienced phenomenal growth in the past few years as more states legalize the use of marijuana for either medical or recreational use. Currently, 29 states and the District of Columbia have laws regulating
Founded in 2009, Global Payout, Inc. (OTC: GOHE) has become a leading provider of payment solutions for both domestic and international companies operating in diverse markets, including the rapidly developing cannabis industry. Many of these companies have identified the need to process payments through innovative solutions that provide fast and efficient service to customers all over the world. Global Payout enables global access to technology for optimizing financial transactions with an efficiency that the traditional banking sector cannot provide.
As a leader in financial technology (FinTech), the company has developed its web-based platform, called The Global Reserve Platform, that can be customized to meet the front-to-back office processing requirements of domestic, foreign exchange and international payment service providers. Apart from core and traditional banking products, it can process and manage a vast range of other financial products, including online banking, mobile wallets, card management, bill and P2P payments, loans management, international remittances, FOREX and SWIFT/ACH/SEPA payments. The Global Reserve Platform can be customized for enterprises in a wide range of market sectors worldwide to improve workflow, financial management and operational efficiency.
In 2015, Global Payout established its MoneyTrac Technology platform, which offers companies operating in alternative or "high-risk" industries the tools to streamline electronic payment processing, meet compliance regulations and develop an operational structure to facilitate business growth. This technology is perfectly aligned with the rapidly developing cannabis market where startups and entrepreneurs lack the support from the traditional banking sector to move initiatives forward and accelerate growth. Cannabis is still considered an illegal substance on federal level in the United States and as a result banks are not comfortable offering businesses in this industry access to electronic banking for secure payment. MoneyTrac Technology offers these companies an array of services designed to address their specific challenges by providing a secure solution to payment logistical problems. In August 2017, Global Payout's subsidiary, MoneyTrac Technology, Inc., revealed their intent to incorporate cryptocurrency into their proprietary platform.
On November 30, 2017, it was announced that MoneyTrac would launch a publication for the cannabis industry, called PotSaver Biz, in collaboration with Global Payout's PotSaver brand, a supplier of medical cannabis. The first release of this publication is scheduled for January 2018, and the company is confident that it will provide another revenue stream through paid listings by the ever-increasing number of enterprises in the cannabis industry. On December 13, 2017, Global Payout announced a collaboration with SinglePoint, Inc. (OTC: SING) to complement its existing payment and financial technology platforms. SinglePoint is a provider of full service mobile technology that will assist Global Payout in maximizing its existing suite of financial solutions.
With a market cap of almost $216 million at close of business on December 27, 2017, Kush Bottles (OTCQB: KSHB) markets and sells packaging solutions and products to the medical and recreational cannabis sectors in the U.S. Founded in 2010, the company also markets its products via its online store, offering an extensive portfolio that includes pop top bottles, reverse cap bottles, child resistant canisters, glass, silicone and polystyrene containers, barrier bags and packaging for vaporizer products. Kush Bottles markets these products to urban farmers, greenhouse cultivators, as well as medical and recreational cannabis dispensaries. On November 28, 2017, the company reported its financial results for its fiscal year ending August 31, 2017, which showed a revenue increase of 129 percent year-on-year to $18.8 million. Working capital was $3.45 million, compared to $2.03 million at August 31, 2016.
Headquartered in Irvine, California, Terra Tech (OTCQX: TRTC) designs, markets and sells its proprietary hydroponic equipment to create sustainable solutions for the indoor cultivation of crops, including cannabis. The company operates through its two subsidiaries, Hydroponic Produce and Cannabis Products. The Hydroponic Produce division markets produce, herbs and floral products. Operating under the name Blüm, the Cannabis Products division operates marijuana retail dispensaries in California and Nevada that offer a range of medical cannabis products, including flowers, concentrates and edibles. This division also produces and sells cannabis flowers and cigarettes, as well as a selection of medical cannabis-extracted products, including concentrates, cartridges, vape pens and wax products. Terra Tech has a market cap of almost $270 million.
General Cannabis (OTCQB: CANN) is an established service provider to the cultivation, production and retail sectors of regulated cannabis industry. The company operates through several divisions, which include real estate, consulting, security, financing and infrastructure products for growing facilities and dispensaries. Next Big Crop joined General Cannabis as a subsidiary in 2015 to offer consulting services for the cultivation, processing and sale of cannabis. Another division, Chiefton Supply Co., designs and manufactures high-quality, customized apparel and clothing for businesses in the cannabis industry, while Chiefton Design creates and develops branding packages for companies. Iron Protection Group is a subsidiary of General Cannabis that provides security services to enterprises within the cannabis industry. On December 21, 2017, General Cannabis signed a two-year contract worth $955,000 to manage a cultivation facility in California, representing the largest single contract the company has ever secured.
MassRoots (QTCQB: MSRT) operates an online technology platform, mainly for consumers, to enable users to follow dispensaries, stay connected with cannabis legalization developments and share their cannabis content. Through free mobile apps that are available via Google Play, iOS App Store, Amazon App Store and the MassRoots website, consumers are able to make educated cannabis purchasing decisions. The company also operates MassRoots for Business, which enables businesses to schedule posts, view analytics and sell merchandise through this online portal. On December 27, 2017, MassRoots announced its action plan to aggressively scale its market share in California. The company intends to leverage its social media following of 500,000 on Facebook, 450,000 on Instagram and 100,000 on Snapchat to grow its network of consumers by rewarding referrals of users and paying businesses on the MassRoots platform.
In an industry that is experiencing exponential growth, the support services offered by these companies is critical to sustain the development of cannabis companies in this market sector. At the same time, these businesses will benefit substantially through the provision of further opportunities for innovation and growth.
For more information on Global Payout, please visit: Global Payout, Inc. (OTC: GOHE)
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