Three reasons to invest in Agritek Holdings Inc. stock (AGTK)
1) A new direction? Last month, AGTK announced a partnership with WoahStork.com – an online marketplace where patients and recreational users can place online marijuana orders with local disensaries. “The parties have agreed on a 30% revenue share on a $3.75 transaction fee with additional revenues to be shared through advertising models, non-cannabis product sales and doctor’s appointment setting and record management fees.” Depending on volumes at WoahStork, this could be the source of revenue AGTK needs to stay afloat. “It is about time we get back to our original roots as being one of the first public Companies within the cannabis sector focusing on technology, storage of patient records and financial transactions within the industry,” CEO B. Michael Friedman said at the time. “We chose to partner with WoahStork creating a partnership with a high barrier of entry on the technology side as they have created technology far more advanced than a social media forum for cannabis or a delivery service.”
2) A “pure play” on pot. There aren’t a whole lot of stocks that give investors direct exposure to the medical and recreational marijuana industry. AGTK fits the bill, and it does it in a wide array of ways: from land holdings to an online cannabis-ordering platform.
3) Monetary damages on the way? In April (on 4/20/16, of course), Agritek Holdings announced a cease and desist and pending law suit against former CEO Justin Braune (now of Vape Holdings). Agritek alleges “the present vaporizer device and cartridge being sold as Vape Holding’s ‘Revival Vape’s’ product line was designed and developed during Mr. Braune’s tenure as Chief Executive Officer of Agritek Holdings under the Company’s wholly owned subsidiary Prohibition Products Inc. with Mr. Braune as President of Prohibition Products.” Agritek was preparing a law suit against Vape Holdings and Mr. Braune for “intellectual property infringement and violation of Mr. Braune’s employment agreement under non-compete clauses.” It’s unclear whether that lawsuit was filed. If so, there’s a chance (however slim) that Agritek could collect some monetary damages down the road.
