Investment holding company Fortitude Group Inc.’s (OTCPINK: FRTD) share volume skyrocketed Apr. 14, with 46,298,513 shares changing hands, nearly twice its three-month average of 23,368,352 shares.
The ongoing volume surge was sparked in part by the news that the Erie, Pa.-based company received an initial order for 5,000 VaporVites, it branded vaporizer.
According to the company, the initial 5,000-unit order was received from a Colorado dispensary with 4 stores. Fortitude's cost to manufacture each VaporVites unit is $29. The wholesale cost to the dispensary is $89 or a profit per unit of $60 representing $300,000.00 profit for this initial order.
Option to Purchase 25,000 More Units
Under the terms of the agreement, the dispensary paid a 25% deposit for the initial order with the balance to be paid upon product delivery. The estimated delivery time to the dispensary is April 20, 2014. The dispensary has an option to purchase an additional 25,000 units within the next 3 months at a 10% discounted wholesale price or $80.10 per unit.
Thomas J. Parilla, CEO of Fortitude, stated, "We are pleased to begin selling the VaporVites product while reflecting this product revenue on our income statement. The distribution of the VaporVites e-cig product line has immediately produced revenue for the company at minimal hard cost or capital outlay. Our goal is to wholesale a minimum of 250,000 VaporVites units in the remainder of 2014.
This is just the latest positive deal Fortitude Group has consummated this year.
Provide Debit-Card Processing
On Feb. 22, Fortitude Group executed a Master Agent Agreement with eViteXchange.com. Under the terms of this agreement, Fortitude will offer and facilitate closed-loop transaction processing to legal dispensaries in the medical marijuana industry as well as provide processing for entities in states that have legalized recreational marijuana sales.
Fortitude shall acquire from eViteXhange.com the URL's 420banc.com and 420cashcard.com. Both domains will be used as a pre-paid platform allowing legal marijuana merchants customers to process purchase transactions using a debit card vs. cash. The private-label card will offer additional rewards and points to the card holders which can be custom designed to fit their individual likes and needs. Fortitude expects to derive approximately $155.00 annual profit per retail card user. The Company intends to launch on Mar. 17, 2014.”
On Apr. 14, FRTD’s share price closed at 2 cents, down 1 cent from its closing price of 3 cents the previous day.
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Medical Marijuana Inc.’s Unveils New Subsidiary that Sells Cannabis Chocolate Bars
In other news, Medical Marijuana Inc. (OTC PINK: MJNA) unveiled its newest subsidiary, aNew Chocolate, LLC, that manufactures the world's first cannabidiol (CBD)-rich hemp oil-infused chocolate bars.
The first aNew Chocolate product will be unveiled at the High Times U.S. Cannabis Cup in Denver, Colorado April 19-20 at the Denver Merchandise Mart located at 451 East 58th Ave. Denver, CO 80216.
"Consumers are driving a major hemp revival in the United States," says Medical Marijuana’s, Chief Operating Officer Michelle Sides. "Part of this is due to the growing demand for functional, natural, and organic foods."
This is just the latest positive news to come San Diego-based company. On Apr. 2, Medical Marijuana announced that its marketing company HempMedsPX(TM) has finalized a strategic marketing partnership with Medical Cannabis Network.
Medical Cannabis Network will directly market HempMedsPX(TM) through its MarijuanaDoctors.com and PotLocator.com brands. The online following of these Medical Cannabis Network brands includes more than 6,000 dispensaries, 100,000 opt-in newsletter subscribers, 148,000 “Likes” on Facebook and 35,000 followers on Twitter.
The immediate benefit to Medical Marijuana Inc. is an increase in consumer awareness and an increase in the visibility of the cannabidiol (CBD)-rich hemp oil products that HempMedsPX(TM) represents.
On Apr. 14, MJNA share price closed at 20 cents, down 1 cent from its closing price of the 21 cents the previous day.
Tranzbyte Corp. Share Volume Continues to Soar
Meanwhile, Tranzbyte Corp. (OTCPINK: ERBB) share volume continued to soar Apr. 14, with 218,409,239 changing hands, significantly higher than its three-month average volume of 186,850,491shares.
The uptick in volume comes on the heels of the news that Tranzbyte has launched American GreenZine, an online publication it’s designed to report on the legal-marijuana industry, from the grower and consumer’s perceptive.
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.
On Apr 14, ERBB’s share price closed at 6 cents, unchanged from its closing price of the previous day.
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