Primco Management Delays Planned Share Increase amid Audits


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OTC:BB:PMCM / PK:ERBB / OTC:BB:VKML
03/26/2014 [ACCESSWIRE]

Primco Management Inc. (OTCQB: PMCM) share volume continued to skyrocket through the Stratosphere  Mar. 25, with 1,050,514,434 shares changing hands, more than twice  its three-month average volume of 493,811,579 shares

The surge in volume is being fueled in part by several major announcements made by the Century City, Calif.-based multi-media and real estate development company with the latest one coming March 24.

The company announced it has commenced audits on both its Top Sail and D&B acquisitions, and that there will be no increase in the number of authorized shares until the audits and amended filing have been declared effective.

Delays Increase in Shares

"Based on conversations with our attorneys, it is possible that there will be no share increase for 90 days," stated Primco’s CEO David Michery. "In the meantime, this delay is a blessing to our shareholders as we are in the midst of negotiating the settlement of all of our convertible debt and, consequently, the preservation of our share price. We have already entered into agreements with equity investors and have begun the process of improving the balance sheet," he added

On Mar. 19 Primco announced it had acquired Seattle-based Suzie Q's, a medical marijuana collective fully licensed by the City of Seattle.

Suzie Q's has been in operation for more than four years and serves over 1,500 patients. The agreement calls for the purchase of 100% of the assets of the co-op as well as the purchase and transfer of a Tier I Production License granted by the Washington State Liquor Board.

"The acquisition of Suzie Q's, one of the first fully licensed facilities in Seattle, gives us a base of operations which tie in perfectly with our plans in nearby Vancouver," stated Primco’s CEO David Michery.

"Once we complete the acquisition of Suzie Q's, we believe that we can significantly increase the current revenue stream over the next few months. Primco is in the early stages of establishing a massive marketing campaign to launch our new brand. By delivering the highest quality medicine at competitive levels, the Suzie Q's brand will grow to become one of the most trusted names in medical cannabis," he added. 

Putting the Pieces Together

This is just the latest move by Primco to enlarge its footprint in the medical marijuana industry.

The company entered into a joint venture with British Columbia-based CanMed Ventures on Feb. 24 to build and operate a 30,000-square-foot cultivation facility for the production of medical marijuana.

Primco said it expects to be fully licensed within 6 months and generating first-year revenues exceeding $20 million.

This is just Primco Management's latest move to develop various properties in order to lease them to companies growing or selling legal marijuana.

Also Acquiring Property in Los Angeles

On Feb. 12 the company said it also planned to initially acquire property in the greater Los Angeles area with subsequent plans to extend its operations to Western states where medical marijuana is permitted by state law. The leased facilities will meet all zoning and licensing requirements for the ongoing, legal dispensing of medical cannabis. Primco will not engage in the cultivation or sale of medical cannabis or any of its byproducts.

PMCM's share price closed at 0.0047 cents on Mar. 25, up 0.0017 cents, or 56.67%, from its close of 0.003 cents the previous day.  

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Tranzbyte Corp. Prepares To Rollout New Marijuana Growing Technology

Meanwhile, Tranzbyte Corp. (OTCPINK: ERBB) stock volume continued to soared Mar. 25, with 303,082,075 shares changing hands,  1.4 times higher than its three-month average volume of 213,373,254 shares.

The surge in volume is still being fueled in part by the Tempe, Ariz.-based medical marijuana dispensary company's various positive announcements.

Tranzbyte announced  Mar. 25  that it has completed an agreement to co-market their grow-oriented products, specifically the EMC-5000 Environmental Master Controller, which is able to provide constant management for grow room facilities for indoor gardens and the Jurassic Oxygenation System to augment the previously announced efforts with the Biocube Green Grow Systems sales efforts in the US.

On Mar. 21, the company announced that it signed a Letter of Intent to form a strategic partnership with Abattis (OTC Pink: ATTBF).

Under terms of the agreement, the companies will sell and market or otherwise license one another's products in their respective regions. Once the arrangement is completed, Tranzbyte will have access to Abattis' expanding suite of bio-ceutical grow products found in the Biocube Green Grow Systems for cultivation (LED's, Nutrients - Natures Juice).

In addition, Abattis owns proprietary flash freeze extraction technology, which produces high-grade cannabis and other botanical extracts. Conversely, Abattis will have the Canadian rights to distribute ZaZZZ(TM) and will pair Tranzbyte's Jurassic O2 water systems with its Biocube Green Grow Systems sales efforts in the US.

"When one looks at the obvious NAFTA synergy, this relationship makes all the sense in the world. Abattis is a powerhouse in Canada; we are stronger in the United States," Tranzbyte COO Stephen Shearin, said in a written statement.

Technology That Speeds Up Growth of Marijuana

This latest good news comes only a few weeks after Tranzbyte reported that it was testing a new gas/watering system that dramatically increases the parts per million of oxygen in water and has several benefits including speeding up the growth of marijuana and increasing its yield.

The company executed a Letter of Intent on Feb. 12, 2014, to license this patent-pending technology for distribution throughout the marijuana growing industry in the United States. Tranzbyte is in the process of negotiating a formal licensing agreement with the owners of the technology pending the results of the tests which began in Phoenix and California last weekend.

Speeds Growth and Repels Pests

According to Tranzbyte, the new technology re-creates atmospheric conditions similar to those of prehistoric times.

"Think: the Jurassic era. Think of accomplishing the mythological 'fifth grow.' This serves to increase product availability and adds profit straight to the bottom line for the grower," says Stephen Shearin, Tranzbyte's chief operating officer. “An apparent side benefit is that several common pests associated with grow operations don't seem to favor the higher O2 environment. It was an unintended consequence of the process, but it could be as big a feature as achieving radically increased growth," he added.

On Mar. 25, ERBB's share price closed at 0.0975 cents, down 0.0019 cents from the share price of 0.0994 cents at the close of the previous day.

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In other news, Viking Minerals Inc. (OTCQB: VKML) stock volume soared Mar. 25, with 13,554,814 shares changing hands, more than four times its three-month average volume of 3,098,314.

Since there has been no news on this Peoria, Ariz.-based mining company since Dec. 30, 2011, it’s hard to say what is behind the sudden surged in volume.

However, what we do know is that in Vikings latest financial report for the period ending Mar. 31, 2013, the company showed a $31-million loss.

On Mar. 25, VKML’s share price closed at 11 cents, down 0.015 cents from the share price of 0.125 cents at the close of the previous day.

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