The Company to Also Lay Out Its Aggressive Growth Strategy for 2017
BEND, OR, Nov. 30, 2016 /PRNewswire/- Signal Bay (OTCQB:SGBY) will be presenting at the widely-attended LD Microchip Conference, which is to be held in Luxe Sunset Bel Air in Los Angeles from December 6 through December 8.
Signal Bay operates state-of-the-art testing facilities and offers accredited testing methodologies that ensure the safety and potency of the nation's cannabis supply through its' EVIO Labs division. As the legalization of medical and recreational marijuana sweeps across the country, demand for reliable, independent cannabis quality control testing facilities is increasing dramatically.
The self-described "Woodstock" of Microcap, LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually.
Signal Bay to Focus Presentation on Rapid Industry Changes and Its Rapid Sales Growth
The election results in California and other states was nothing short of a game-changer for the legal cannabis market, which is now the fastest growing industry in the nation.
A subset of the overall marijuana market is the cannabis testing market, a space that is expected to grow exponentially as cannabis transitions from a formerly illegal substance to a legal and regulated consumer product. The testing market in the United States is expected to balloon to $850 million in size by 2020. In California alone, the market is expected to reach $300 million in 2017. Cannabis testing is critical to ensuring that cannabis, whether for medical or recreational use, is safe from pesticides, E. coli, molds, solvents and other toxins and impurities.
"We are looking forward to presenting at the LD Microchip Conference during such an exciting time in our industry," commented CEO of Signal Bay, William Waldrop. "The year 2016 will go on record as the year in which the cannabis industry began on an explosive growth trajectory of historic proportions. We are truly entering in to a "Green Rush." In addition, we also strongly believe that the cannabis testing subset is the most attractive, risk averse subset of the cannabis industry, generally. As leading player in this space, we are very pleased and excited to share significant progress we have achieved in 2016 as well as our aggressive growth strategy going forward into 2017. We look forward to sharing our past successes and future plans with current and potential investors at next week's widely attended and publicized conference."
While many cannabis testing companies are currently vying for market share in the wide open markets resulting the recent election, strict regulations and mandatory cannabis testing accreditation have made it difficult for many inexperienced cannabis testing companies to survive. Signal Bay, however, is the dominant player in Oregon where its EVIO Labs are the currently accredited and setting the standard in the industry. Signal Bay currently has five EVIO Labs in operation including one in California. The Company plans to add 18 more accredited EVIO Labs in the Golden State by the end of 2018. Signal Bay has seen explosive growth over the last few months, and just recently reported record sales figures for the month of October. The presentation could not come at a more exciting time for the Company, or for the industry. The Company projects to generate over $45 million in annual revenues and operate over 30 EVIO Labs by 2020.
Signal Bay to Also Highlight Its Scientific Edge Over Competitors
Many Cannabis testing labs struggle to survive simply because they lack proper technical expertise. This is not the case for Signal Bay, whose strength comes from its deep bullpen of experienced team members. Some of the 31 Signal Bay team members helping the growing company execute on its aggressive growth strategy include Chief Science Officer and natural products researcher, Dr. Anthony Smith. A well-respected biochemist and researcher with a PhD in Molecular and Cellular Biology from Oregon State University. Dr. Smith held a position on the Oregon governor's Task Force for Researching the Medical and Public Health Effects of Cannabis and serves on the scientific advisory board of the Health Research Institute, a non-profit horticultural and medical research group. Dr. Smith is just player in what the Company believes is the strongest and most experienced management team in the industry.
"Lacking the scientific expertise and experience, many labs take up to a year to reach some level of accreditation, but fail to become fully accredited and remain unable to provide the full suite of services required for regulatory compliance," Waldrop commented.
"Many get stuck in the research and development stage after accreditation. At Signal Bay, however, our advanced technical experience as well as our experience and understanding of the regulatory system, enables us to get our EVIO Labs accredited and fully operational in a matter of months, rather than years. This efficiency enables us to grow quickly and to meet our ambitious milestones we have set for the coming year, milestones I look forward to laying out next week at the LD Microcap Conference in Los Angeles."
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SOURCE Signal Bay, Inc.
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