DigiPath Inc. (OTC: DIGP), a provider of digital pathology solutions, opted to expand into the rapidly growing cannabis industry in early 2014. By leveraging its digital pathology expertise, the company appointed new executive leadership, appointed a Chief Science officer, was awarded a permit to open a Clark County, Nevada cannabis testing laboratory and is forward to state approval in the coming months, and has also launched both educational and news media subsidiaries.
"We believe that the increased availability of and demand for medical cannabis – especially as states and the federal government move to ease laws around the cannabis industry – has created unprecedented growth opportunities," said DigiPath Inc. CEO Steve Barbee. "Our revenues are increasing, we have capital o hand, and we are focused on expanding our infrastructure and building shareholder value."
DigiPath’s existing revenue and strong cash position set it apart from many other development-stage companies within the cannabis industry. For instance, aspiring Canadian medical marijuana growers under the country’s new MMPR or those awaiting regulatory approvals in the U.S. have generated little to no revenue, while massive overhead costs have eaten into their cash positions in the meantime.
Recently, the company also launched a nationwide digital radio program called The National Marijuana News ("TNMNews") that takes an unbiased approach in covering issues about medical and recreational marijuana. Host Bruce Kelly, who has developed a number of radio platforms including Sirius XM Holdings Inc.’s (NASDAQ: SIRI) XM Radio, noted that the station has already picked up 17,000 FB likes and logged hundreds of listening hours.
DigiPath’s move into the rapidly growing, multi-billion dollar cannabis industry has only just begun. After raising $8.2 million in growth capital, the company is well positioned to build long-term shareholder value by investing in its existing and future initiatives within the industry in order to create a comprehensive platform that provides valuable services and the means to rapidly scale.
Investors in the cannabis industry that are already following the success of companies like GW Pharmaceuticals plc (NASDAQ: GWPH), may want to take a closer look at DigiPath Inc. given its numerous programs in development, existing revenue-generating business, and recent capital infusion to help management execute on its plans to build shareholder value.
For more information, see the following resources:
- Company Website - http://www.digipath.com/
- CannabisFN Profile - http://www.cannabisfn.com/mdc/digipath-inc/
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SOURCE: Emerging Growth LLC