On Apr. 18, Latteno Food Corp’s (OTCPPINK: LATF) enjoyed robust stock volume with 117,999,232 shares changing hands.
The strong volume comes just a day after the Santa Ana-based medical-marijuana company announced the official opening of its Medical Marijuana Evaluations Office in Los Angeles, Calif. The company has retained doctors who are well-known experts in Chinese herbal medicine and medical cannabis to evaluate and recommend state-issued MMJ cards to qualified California residents.
In addition to provide recommendations for MMJ cards, the office will provide expert analysis and recommendations for additional Chinese herbal medicines, including weight loss, pain management and Botox, fillers and peels.
The MMJ Evaluation Office is located at1010 S. Robertson Blvd., Suite A-B, Los Angeles, CA and will be staffed by licensed CA Medical Board doctors; and recommendations will include grow plants and follow-up visits as required
In addition, Latteno Food had recently announced the acquisition of California based MMJ cultivate/delivery service to be operated under the newly formed subsidiary RxHC Harvest Collective Inc; and the launch of its Industry leading MMJ Edibles Delivery Service ,Latteno's subsidiary, Rx Harvest Collective, Inc.. It will initially be servicing Orange County, Calif, with additional service areas to follow.
On Apr. 18, LATF’s share price closed at 1 cent, unchanged from its closing price of the previous day.
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Easton Pharmaceuticals Signs Mexico Distribution Agreement with BMV Medica
In other news, Easton Pharmaceuticals Inc. (OTCPINK: EAPH) also enjoyed robust stock volume Apr. 18, with 15,097,853 shares changing hands
The surge in volume come on the heels of the Toronto based company’s announcement that BMV Medica, S.A. de C.V., a Mexican regulatory company and distributor of pharmaceutical products, has signed an exclusive agreement to distribute Easton's "VIORRA" product in Mexico.
Carla Pepe, CEO of Easton Pharmaceuticals, stated, “BMV Medica, as previously announced, is the company's current regulatory consultant for Mexico and other parts of Latin America. After extensive discussions Easton has finalized a deal whereby BMV Medica will take over Marketing and Distribution for VIORRA."
Pepe further commented, "They have shown a strong interest in the growth of VIORRA in Mexico, and expect to launch VIORRA later this year, subject to the regulatory approvals and finalizing the sourcing out of a suitable manufacturing partner. Discussions with possible manufacturers are well under way and BMV anticipates finalizing a deal shortly."
Ms. Mendoza Vazquez, of BMV Medica, stated, "BMV has launched several products in Mexico recently, including pregnancy tests, and several antibiotics. BMV is pleased to have obtained the distribution rights to market and sell VIORRA in Mexico. Our market analysis reveals, of the overall 120 million population within Mexico, the potential VIORRA demographic could reach into the tens of millions of women."
On Apr.18, EAPH share price closed at 3 cents, unchanged from the its share price at the close of the previous day.
Fortitude Group Sells 5,000 VaporVites to Colorado Dispensary Chain
Meanwhile, investment holding company Fortitude Group Inc.’s (OTCPINK: FRTD) share volume was also robust Apr. 18 with 24,126,514 shares changing hands.
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, its 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. 18, FRTD’s share price closed at 3 cents, unchanged from its closing price the previous day.
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