NEW YORK, October 17, 2017 /PRNewswire/ --
According to a researchreport by New Frontier Data, medical marijuana sales are forecast to grow to $5.3 billion in 2017, accounting for 67% of total cannabis sales. Medical sales in currently legal states are forecast to grow to $13.2
The research points out that the United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy, and it is estimated that cannabis and related products can replace $4.4 billion to $4.9 billion per year of current spending on existing treatments. "Looking at these numbers, it would appear that medical cannabis would be a drop in the bucket when it comes to impacting the total pharmaceutical industry. However, when you start to break down the numbers by specific sectors of the industry, like chronic pain or symptoms associated with chemotherapy, which are very lucrative markets for pharmaceutical companies, you will certainly see cannabis have a major impact," said Aguirre De Carcer, CEO of New Frontier Data.
Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company"), in addition to its newly acquired marketing and publishing entity, PotSaver, made a successful presence last week at the Southwest Cannabis Conference and Expo held in Phoenix, AZ.
The expo is a business-to-business event that brings experts from the local, regional, and national cannabis industry together to network and share the latest industry information with industry members, entrepreneurs, local leaders, and companies all within the rapidly emerging cannabis industry. In attendance at the expo was MTRAC CEO, James Hancock, and PotSaver Founder, Aaron Adler. The two had a unique opportunity to meet and network with a variety of individuals and businesses with ties to the cannabis industry and were able to utilize their presence as a platform to successfully promote both the MTRAC and Pot Saver brands.
"Attending this event was an excellent opportunity for us to share the vast array of technology and business-related solutions MoneyTrac has to offer to the many new and existing businesses in cannabis," said MTRAC CEO, James Hancock. "In having had the chance to speak with several different owners of these businesses, it has become increasingly clear that the lack of effective banking solutions made available to them remains one of the biggest challenges they are faced with and has reinforced our current mission of working to deliver a banking solution that tackles this specific challenge," Mr. Hancock commented further.
The Company announced last week via press release that it is currently in the final stages of completing the necessary due diligence to execute a joint venture partnership with an established financial institution that will allow the Company to offer one of the most effective banking solutions available within the cannabis industry. Additionally, the Company also contends that a variety of key connections were established at the expo which may prove to be strategically beneficial in guiding the successful launch of the PotSaver brand in the Phoenix area market at some time in the near future.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm's retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada. Recently, the company announced that its subsidiary, Edible Garden, a nationwide provider of fresh, locally-grown herbs and leafy greens, has been selected by two new customers, Hannaford supermarket and Sweetgreen restaurants, to supply organic fresh herbs to selected retail outlets.
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the company announced the publication of an international PCT patent application that covers a new class of cannabinoid pharmaceuticals. The publication of the international patent filing is the first public disclosure of its full content, which includes 79 patent claims and almost 200 individual compounds. Novel cannabinoid prodrugs are described for the most common phytocannabinoids, THC, cannabidiol (CBD), and CBDV, as well as a variety of other phytocannabinoids and endocannabinoids.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. On September 6, 2017, the company announced that it has granted an exclusive license to the Sowilde Management Group, Inc. to allow Sowilde to produce products under the Company's "hi" and "White Rabbit" brands. White Rabbit offers fast acting low dose cannabis oral sprays and low dose cannabis mints. Both the spray and the mints are formulated as CBD, THC and CBD/THC blends. Dosage ranges include 2.5mg, 5mg and 10mg tablets and sprays with 1:1 and 20:1 variations of each. hi Honey, is a rich, dark, Wild Raw Honey from African mountain bee that is infused with THC or CBD and sourced from a company that supports a native bee population as well as creates sustainable livelihoods for two indigenous groups.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. On August 21, 2017, the company announced the acquisition of Mile High Protection Services LLC. Mile High has a diversified client roster, providing security services to hospitality companies, such as hotels, and to licensed cannabis retailers and cultivators in Colorado. During the seven months ended July 31, 2017, Mile High had revenues of approximately $570,000. Robert Frichtel, CEO of General Cannabis, stated, "Mile High will complement our current security business, Iron Protection Group. It expands our footprint within the Colorado cannabis security market, as well as providing the opportunity to expand our entire security business into the hospitality and other industries. The combination brings natural synergies across hiring, management and operating expenses."
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