On Apr. 3, Tranzbyte Corp. (OTCPINK: ERBB) announced the launching of American GreenZine, an online publication it’s designed to report on the legal-marijuana industry, from the grower to the consumer, from seed to sale and use.
According to the Tempe, Ariz.-based company the new online magazine will use real-time web activity of topical influencers to surface the best content on any subject. The American GreenZine publication is scheduled to begin operating Fri., Apr. 4 at 8:20am EDT.
"With every passing day more news and articles come out about this industry, but they are located in 1000 or more different places, and many of the stories are musings by pundits who may know much or nothing at all about the industry. By aggregating and organizing the information, we provide a portal through which people can get all the news they want and filter it on their own," said David Gwyther, Tranzbyte's president.
This is just the latest chapter in Tranzbyte’s many marijuana-related business ventures.
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.
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Growlife Inc.’s Extends Due Diligence for Joint Venture to Apr. 30
In other news, Growlife Inc. (OTCBB: PHOT) announced that it has extended the date for completion of its due diligence and closing the transaction on its joint venture with CANX USA LLC and RXNB Inc. to Apr. 30, 2014.
No specific reason was given as to why the extension was necessary, or what part of the due diligence hadn’t been completed.
Distribute Proprietary Technologies
Under the agreement, GrowLife will sell and distribute RXNB proprietary technologies globally, and share profits related to technology licensing, subject to the approval of the GrowLife Board of Directors. 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.
Growlife recently released its annual peport and financial results for the fiscal year ending December 31, 2013.
In a press release, the Woodland Hills, Calif. holding company that supplies equipment for legal marijuana growers outlined some of its results:
"GrowLife revenues for 2013 revenue from sales increased to $4,858,976 from $1,450,745, an increase of $3,408,231 or 235% compared against audited revenues in 2012. For the quarter ended December 31, 2013, Q4, revenue was $1,912,311, an increase of $1,237,691, an 183% increase compared to the $674,620 in revenues recorded for the same period in 2012," the release said.
But Growlife’s 10-K form filed with the Security and Exchange Commission gave more details including its net loss:
"The net loss for the year ended December 31, 2013 was $21,380,138 with the same period in fiscal 2012 generating a loss of $2,186,304. As noted above in ‘Other Expenses’, a significant portion of the company's net loss for fiscal year 2013 is related to non-cash expenses."
On Apr. 3, PHOT shares closed at 59 cents down 1 cent from its closing price of 60 cents the previous day, on volume of 13.7 million shares.
The CannaBusiness Group Inc.’s Stock Volume Falls
In the marijuana sector, The CannaBusiness Group Inc.’s (OTCPINK: CBGI) stock volume fell Apr. 3, with just 3,081,439 shares changing hands, less than half its three-month average volume of 7,584,519 shares.
The downward trend comes on the heels of an announcement that the Mission Viejo-based leasing company acquired 17.3 acres located in Northern California with its own water source which is being leased to a licensed medical-marijuana tenant.
The property is being purchased for $275,000 with restricted common stock and cash.
The CannaBusiness Group’s CEO Michael Cummings commented, “This purchase represents the type of transaction that The CannaBusiness Group, Inc. aspires to accomplish. The property is located in Butte County, California. And we believe a purchase like this meets our financial criteria and gives us a great asset base to build off as we continue to execute our strategy of acquiring land or commercial properties.”
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