Insider Financial
The Growing Potential Of CannaGrow Holdings Inc (OTCMKTS:CGRW)
By Alex Carlson / in Momentum Stocks, Sector Watch, Stocks / on Thursday, 21 Jul 2016 06:51 AM / 0 Comment / 248 views
FILE ISRAEL CANNABIS LEGALIZATION USA
CannaGrow Holdings Inc (OTCMKTS:CGRW) is one pot stock we’ve had our eye on this year. Shares made a big move up the charts back in March, but ran into resistance just shy of the $1 mark. Now for over two months, shares have consolidated in a tight range and are hoping to break out to the upside.
CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to licensed Growers providing them with turnkey Growing Facilities in the State of Colorado. The Company intends to expand this business model within this industry as business opportunities evolve whereby providing for the highest return to its shareholders.
The company’s first project is the Colorado Buffalo Ranch Project located in Huerfano County, Colorado. CGRW says that the Colorado Buffalo Ranch Project represents a significant evolution in the industry through the strategic implementation of assets such as using seasonal greenhouses in the overall grow strategy. Each building is 2,880 sq. ft. in size and will function primarily as seasonal production facilities. By making these greenhouses an integral part of production, the company plans on benefiting from the increasing commercial appeal of “sun-grown” Cannabis as well as mitigating higher production costs and the larger carbon footprint associated with indoor commercial grows that rely solely on artificial lighting.
On July 11, the Huerfano County Land Use Office completed the final inspection of the Colorado Buffalo Ranch Filing No. 5-Lot 61 facilities. Then, the Certificate of Occupancy was issued and Category One Botanical, LLC has now taken possession of the facility and initiated operations. The initial production cycle will include in excess of 1,500 plants and the implementation of a “Mother Plant” program required for the future cloning of numerous Hybrid Strains.
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CannaGrow Holdings, Inc., the Liaison and Representative for NuGro Industries, said that it will continue in its capacity in providing oversight as the Facilities Manager, working with the State/County Agencies and Category One Botanicals, LLC, the licensed Grower for the facilities. The completion of this project will provide the company the basis to begin generating revenues from the Licensed Growers subleasing the turnkey facilities being built to CannaGrow’s specifications. The company says that it has already received numerous inquiries from additional perspective tenants and is also exploring additional business ventures within this industry that could further enhance shareholder value.
Along with the existence of over 1,500 plants comprising the initial Production Cycle there has been an addition of 130 plants comprising in excess of 12 strains. CannaGrow COO Dr. John P. Janovec said:
“This is as exciting as it gets in terms of the underlying genetic basis of production at Colorado Buffalo Ranch Project I. We designed the State of the Art Mother Plant Room to house a rich base of Cannabis genetic diversity while at the same enabling a perpetual flow of clones to the nearly 12,000-sq. ft. of grow area. With the nursery at the center of the facility, the Mother Plant Room will enable me to focus on the genetics of various popular and highly marketable strains while working to develop our own proprietary strains. I believe that my education and background involving plant evolution and genetics will enable the end products to be of the highest quality while creating a great demand in the market place.”
The timing for CannaGrow couldn’t be any better. According to a report from a cannabis analytics firm New Frontier and Arcview Market Research, sales of recreational pot shot up 184% year over year, up to $998M in 2015 from $351M in 2014. Colorado and Washington state were responsible for a lot of the industry’s growth, the report said. Colorado tax revenue and recreational sales is predicted to be $135M for 2015, a 77% hike from $76M in revenue in 2014. Washington pulled in $70M in tax revenue.
Come November, California, Nevada, Arizona, Massachusetts, Maine, Rhode Island and Vermont are all expected to decide on recreational legalization this year. Florida, Ohio, Missouri, and Pennsylvania will vote on medical legalization in some form.
Currently trading with a market cap of $61 million, CGRW has emerged as an exciting story among pot stocks with the Colorado Buffalo Ranch project. However, the company needs to improve its financials to justify its current market cap. In the latest quarter, CGRW reported just $10k in revenues, a net loss of $98k, $9k in cash, $283k in total assets, and $3.1m in total liabilities. We will be updating our subscribers as soon as we know more. For current updates on CGRW, sign up for our free newsletter today!
Disclosure: We have no position in CGRW and have not been compensated for this article.
TAGGED AS:Cannabis CannaGrow Holdings Inc CGRW OTCMKTS:CGRW Potstocks
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