Mystery, anticipation and anonymity continue to surround the medical and recreational marijuana industries, especially when it comes to penny stocks.
MediSwipe Inc. (OTCQB: MWIP), a company that provides payment and banking solutions to licensed medical marijuana dispensaries, announced it just got a $1.1 million cash infusion from an unnamed private-equity firm based in Chicago.
In a Jan. 27th release, the Detroit-based company outlined some of the details of the arrangement that will see MediSwipe receive the funds over a six-month period, but declined to identify the investing firm.
Expand Into Recreational Marijuana Market
In a written statement, MediSwipe says its plans to use the $1.1 million to expand its presence and product lines within new marijuana recreational markets including Colorado and Washington State. Currently, the company has confined its business to selling hemp-based beverages, owns the Mont Blunt™ vaporizer and e-cig product brands.
“We have successfully paid off approximately $500,000 of our previous debt from last year, and are extremely pleased that our same institutional funding partners have offered MediSwipe over a million dollars to fund expansion and roll out our medicinal product lines in legal jurisdictions,” MediSwipe’s CEO B. Michael Friedman said, in a written statement.
Friedman added that MediSwipe would continue to be “fully transparent to our investors, shareholders and institutional partners.”
MWIP share price closed at 37 cents, down 2 cents from its closing price of 39 cents the previous day.
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Update on Marijuana-Related Penny Stocks
Here’s the latest news on some other cannabis-related penny stocks:
At the close of Jan. 29 Cannabis Science Inc. (NASDAQ OTC: CBIS) share volume also skyrocketed, with 73,782,677 shares changing hands, more than 3.5 times its three-month 3-average volume of 20,027,088.
The Colorado company that is developing cannabis-based medicines announced on Jan. 16 that it was spearheading an observational clinical research study in 2014 focusing on the use of cannabis and cannabis-based products to treat a variety of medical conditions.
“We will work with full authorization of the regulatory authorities and, most importantly, with the approval from patients,” said Cannabis Science President Robert Melamede.
CBIS share price closed at 18 cents on Jan. 29, down 2 cents from its closing price of 20 cents the previous day.
Find out what could be the best investor’s move when it comes to CBIS by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Providing Secure Delivery Service for Cannabis Industry
On Jan. 29, Medical Marijuana Inc. (OTC PINK: MJNA) share volume continued to soar, with 62,163,879 shares changing hands, more than three times its 3-month average of 19,800,604 shares.
The sudden volume was triggered in part by a Jan. 28th announcement made by the San Diego holding company that one of its newly-formed subsidiaries would be providing armored transport services for companies in the cannabis industry.
Marijuana Inc.’s subsidiary, Wellness Managed Services will be able to offer this service because it purchased a 50% stake in MPS International, for an undisclosed amount.
Cannabis Security Issue
In a written statement, MPS International’s CEO Mike Roberts outlined some specifics about the new armored marijuana transport service.
“Large amounts of product will be moved from grow to wholesaler, warehouse, testing facilities, bakeries, infusion laboratories and finally to retail locations,” Roberts said. “Post transaction, and especially right now with federal regulations prohibiting FDIC insured banks from offering financial services to cannabis industry businesses, large amounts of cash will need to be transported between parties securely as this creates an easy target for predators and competing businesses,” he added.
Potentially Lucrative Opportunity
In the release, Roberts went on to outline the potential opportunity that existed for providing armor transportation for currently legal cannabis businesses. He pointed out that there are now about 448 dispensaries in Colorado alone, while in California there are an estimated 2,700 dispensaries, co-operatives, wellness clinics, and taxi delivery services.
“Using an average of one armed security officer working 10 hour shifts, 7 days per week billing at the industry standard of $25/hour armed, 52 weeks per year, annual gross revenue created by just 11 locations is more than $1,000,000 for just static physical security,” Roberts explained.
Once the company establishes this footprint, it says it will evaluate other cannabis markets such as those in Canada.
On Jan. 29, MJNA share price closed at 33 cents, down 6 cents from its closing price of 40 cents the previous day.
Find out what could be the best investor’s move when it comes to MJNA by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Hydroponic Grow Containers and More
Another company with a robust stock volume lately is Growlife Inc. (OTCBB: PHOT), a Woodland Hills, Calif. holding company operating in the legal cannabis industry. On Jan. 29, the company’s share volume continues to soar, reaching 40,903,089, which is significantly higher than its daily average of 31,499,686. PHOT shares closed at 33 cents, down 6 cents from its closing price of 40 cents the previous day.
Growlife continues to position itself in the burgeoning cannabis industry by developing various markets and deploying new products. For example, one of its recently acquired companies makes hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment.
Find out what could be the best investor’s move when it comes to PHOT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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