According to Hexa Research, the U.S. medical cannabis market size was valued at USD $5.44 Billion in 2016 and is projected to hit USD $19.48 billion by 2024. The industry is expected to witness rapid growth during the forecast period due to wider awareness of the numerous medical benefits of cannabis products and the accelerating pace of legalization of such products in the United States. The report also indicated that the increasing demand for medical cannabis is due to the increasing ageing population. In 2016, rising number of patients diagnosed with chronic pain has resulted in increasing use of cannabis products. Cannabis infused edibles is also expected to grow at a CAGR of 17.8% over the forecast period. Global Payout, Inc. (OTC: GOHE), PotNetwork Holding Inc. (OTC: POTN), Lexaria Bioscience Corp. (OTC: LXRP), Isodiol International Inc. (OTC: ISOLF), SinglePoint, Inc. (OTC: SING)
The recent tax bill passed by the senate and signed by the president is expected to have a positive affect on the industry. New Frontier Data CEO Giadha Aguirre De Carcer, "Under the new business tax rate of 21 percent, the Trump tax cuts will come as welcome relief to cannabis business owners who already face tax hurdles because of 280E. Lower tax rates may provide cannabis business owners greater capacity to grow and create more jobs. New Frontier Data projects increased domestic and international expansion of new legal cannabis markets and $106 billion in tax revenue over an eight-year period in the U.S."
Global Payout, Inc. (OTC: GOHE) last week announced breaking news that, "its subsidiary MoneyTrac Technology, Inc. ("MTRAC", the "Company") has begun the soft launch of MTRAC, a full-service banking solution powered by software technology features that the Company has acquired through its Joint Venture with GreenBox ("GBOX").
MTRAC is an innovative E-Wallet cash loading machine/kiosk that is supported by blockchain technology and will be leveraged by MTRAC to bring to market an intuitive system that will offer cannabis consumers and retailers an effective alternative to cash payment transactions.
This last year alone has brought incredible opportunity for those in the cannabis industry, but the market still lacks reasonable access to traditional banking platforms which tends to create a myriad of challenges for both consumers and retailers. With MTRAC the Company believes it can tackle a significant portion of this challenge by offering dispensaries a cash loading kiosk that combines the benefits of both E-Wallet and blockchain technology and presents a safe and viable alternative to cash."
"The integration of the incredible technology GreenBox has developed into our platform of solutions that we are aiming to make available to businesses in cannabis really represents our continued commitment of Banking the Unbankable," said MTRAC CEO, Vanessa Luna. "MTRAC is the culmination of months of work and collaboration between GreenBox and MoneyTrac, and we are excited to begin the process of bringing this solution to a market that needs it more than any other right now."
PotNetwork Holding Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. Recently, the company announced that it's wholly owned subsidiary, Diamond CBD Inc.com, achieved over $500,000 in website- generated orders, surpassing all previous online sales records. When comparing results to that of last year, recent sales results show growth in the range of over 300%. Over the course of the last year, the Company's subsidiary, Diamond CBD, has brought to market over 15CBD brands that have demonstrated high consumer brand recognition and acceptance. These brands are marketed at thousands of retail stores around the country and include CBD oils, edible gummies, vape pens, vape additives pet products, and more. Diamond CBD focuses on the research, development, and multi-national marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives.
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. On March 13, 2018, the company announced it has completed the world's first study evaluating DehydraTECHTM used in a topical cream formulation for absorption of cannabidiol through human skin. Results proved significant increases in both speed and quantity of CBD absorption through skin when compared to control formulations. The absorption study was performed on human skin at a California-based laboratory that specializes in Franz diffusion cell skin permeability testing. Lexaria's DehydraTECHTM technology was used together with a sophisticated oil-in-water emulsion formulation design and compared to a series of matching oil-in-water emulsion formulations prepared with the same CBD inputs, with and without the DehydraTECHTM technology and with and without two leading skin penetration enhancers currently used in the skin products industry.
Isodiol International Inc. (OTCQB: ISOLF) is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of CBD consumer products. Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products. Recently, the company announced it has signed a partnership agreement with Kawacatoose First Nation (KFN), a leader and forward-thinking Band with operations and land in Saskatchewan, Canada. Isodiol will partner with the KFN in cultivating and manufacturing high yielding CBD derived from industrial hemp as well as exploring additional economic opportunities with the KFN in commercializing the hemp by-product into everyday finished goods.
SinglePoint, Inc. (OTCQB: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. On March 9, 2018, the company announced its engagement with Circonomy Solutions to create the cannabis industry's first waste diversion program, with an emphasis on moving toward zero-waste. With broad experience in the waste and sustainability industries, Circonomy is the premier company to deliver creative technologies and solutions to make this "green" industry even greener. Circonomy Solutions and SinglePoint are currently working to research, identify and address the complexities, costs and potential savings associated with cannabis industry waste. Through a combination of recycling and reusing this waste to create new products and the integration of blockchain technology, former waste that has been turned into new product can then be tracked through its full life cycle. This will provide a transparent ledger and give insight to state authorities and other entities who require cannabis industry waste to be disposed of properly. SinglePoint believes cannabis waste diversion is a multibillion-dollar industry that has yet to be tapped by other players in the waste industry.
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