Several marijuana penny stocks are inching closer to the reality of one day becoming major players in the legal-marijuana industry.
Some of them are already building warehouses from which to ship their products, while others are working feverously lobbying state legislators and Congress to legalize the use of cannabis statewide and throughout the United States. Still others are using their creative energies and resources to design products, services and partnerships to exploit soon-to-be flourishing vertical medical-marijuana markets.
Here is a progress report on four such companies. Remember, each update is simply a snapshot of a point in time. But for now, it's all that potential investors have to go on.
Inching Toward Canadian Approval
Health Canada forecasts that there will be half a million medical marijuana users in Canada in 10 years, but Creative Edge Nutrition Inc.'s (OTC Pink: FITX) CEO Bill Chaaban told Forbes Magazine Dec. 30 that with the availability and the assurance of consistency of the product it could only take two years for users to reach that magnitude.
A Potential Windfall – Operative Word 'Potential'
These forecasts point toward a potential windfall for Creative Edge and other companies like them, if the Canadian government grants the Michigan-based company the final approval to sell medical marijuana in the country.
On Jan. 9, Creative Edge inched closer to approval by complying with the Canadian government's regulations on tracking 1.3 million pounds of medical marijuana annually. The medical marijuana is to be distributed by Creative Edge’s wholly owned subsidiary CEN Biotech.
Creative Edge cleared this obstacle by using a new state-of-the-art M3Hub Seed-to-Sale tracking platform, which meets and exceeds Health Canada's tracking compliance regulations. This news comes less than two months after Creative Edge broke ground on its new 58,000-square-foot future Medical Marijuana distribution center, which will be attached to the company's current 26,400-square-foot facility.
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In November, the company was notified by Canada's federal health department, Health Canada, that it has been issued permission to build its cannabis facility. Upon completion it will be inspected by Health Canada for a permit to begin operation.
If all goes well, it will be an historic moment for Creative Edge; however, if the approval runs into trouble, it would be a major setback for the company.
At close of the market on Feb. 4, 2014 FITX share price closed at 0.0501 cents, down 0.0015 cents from 0.054 a share the previous day.
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Essential Equipment for Cannabis Growers
Another marijuana penny stock that is inching closer to becoming a full-blown player in the legal-marijuana sector is Growlife Inc. (OTCBB: PHOT), a Woodland Hills, Calif. holding company.
On Feb. 4 PHOT shares closed at 39 cents, up 4 cents from its closing price of 35 cents the previous day.
Growlife is strongly positioning itself by developing various markets and deploying new products and services for the legal cannabis industry. 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. The company appears to be vigorously considering every possible angle and service to capture its piece of the legal cannabis pie.
On Jan. 31, Growlife announced that it had entered into a strategic partnership with RXNB Inc. Growlife entered into an agreement to purchase a 40% equity stake in RXNB Inc. To sell and distribute RXNB proprietary technologies globally and share profits related to technology licensing, subject to the approval of the GrowLife board. GrowLife currently has a 45% ownership interest in OGI, with conditions under which it can gain majority interest.
RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development. RXNB has a portfolio valuation of $110 million dollars and approximately $27.5 million dollars in annual revenue.
Looks Good On Paper
While this certainly seems like a strong positioning move by Growlife, and it's nice to know that the company it has just acquired a 40% equity share in has revenue of 27.5 million, we don’t have any idea if the company has earned any profits. So again, we must wait for more thorough info before getting too excited about Growlife’s latest moves.
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Player on Three Fronts
The next marijuana-related penny stock is making moves to become a player on three fronts: (1) medical Research, (2) Lobbying and (3) Moving into vertical medical-marijuana markets.
Cannabis Science Inc. (NASDAQ OTC: CBIS) is continuing to lobby hard for the decriminalization of cannabis research, which is definitely makes it a player that is serious about developing products in a timely and safe fashion.
Lobbying Hard to Make Cannabis Research Possible
The company's government relations team lead, Rick Blake, is working with the U.S. House of Representatives' Cannabis Caucus to ensure that President Obama signs an Executive Order to decriminalize cannabis research. This is one of the bipartisan initiatives of the members of the Cannabis Caucus being facilitated by Cannabis Science. In contrast to many other countries Cannabis Science believes the regulatory landscape of the United States creates unreasonable restrictions on the ability of scientists and physicians to explore promising patient-driven research involving cannabis and cannabinoids.
"Thousands of patients are awaiting the President's action to set cannabis research free," said Director and CEO of Cannabis Science Dorothy Bray, in a Jan. 29 written statement.
The Colorado company that is developing cannabis-based medicines announced on Jan. 16 that it is 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.
Selling Equipment in Canada and Abroad
On Feb 3, Cannabis Science also announced it would be partnering with MDS, a subsidiary of Medbox, Inc. to sell and distribute equipment to be used in the medical-marijuana industry. Under the terms of the agreement Cannabis Science has a 50/50 gross profit exclusive on any and all MDS equipment sales in Canada and other select markets, according to the release Both Cannabis Science and MDS have multiple opportunities in Canada based on recent developments with medical cannabis in that market. Other countries will follow pursuant to the agreement as Cannabis Science moves forward aggressively in Europe and South America.
CBIS share price closed at 22 cents on Feb. 4, up 3 cents from its closing price of 19 cents the previous day.
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Diversified Product Offerings
The final marijuana penny stock that has the potential to become a real player is Hemp Inc. (OTCPINK: HEMP) because of the variety and strength of its cannabis-related products.
The Las Vegas-based company is developing a plethora of products made from industrial hemp, including fabric, paper, insulation, plastics, cooking oil and even salad dressings. And now, it is developing vaporizers.
Developing Vaporizer Products
On Jan. 28, VaporBrands International, Inc. (OTC Pink: VAPR) announced it has entered into a Letter of Intent to form a joint venture with Marijuana, Inc., a wholly owned subsidiary of Hemp.
Under terms of the proposed joint venture, Marijuana, Inc. will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks.
In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.
Inching toward Becoming a Player
This latest move by HEMP through its subsidiary certainly strengthens its position in the marketplace. It also filled a much needed gap in its vertical offerings. While it’s too soon to measure how this will affect HEMP’s overall revenue, no one can deny it is a positive development.
Feb. 4, HEMP closed at 26 cents, up 9 cents from yesterday's close of 17 cents.
Find out what could be the best investor's move when it comes to HEMP by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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