Wednesday, November 22, 2017 11:28:58 AM
A report published by Arcview Market Research, indicates that the legal cannabis industry will grow at 22% CAGR in 2017, as the eight states that voted to open or expand their cannabis markets on Election Day in November 2016, will work to implement new businesses, programs and products. According to the report the industry accelerated at a remarkable pace in 2016. North American consumers spent $6.7 billion on legal cannabis products, which represents an increase of 34% from 2015. The data forecasts the legal cannabis industry will grow robust 27% CAGR to $22.6 billion by 2021. Global Payout, Inc. (OTC: GOHE), Greengro Technologies, Inc. (OTC: GRNH), Cannabis Science, Inc. (OTC: CBIS), Surna, Inc. (OTC: SRNA), GB Sciences, Inc. (OTC: GBLX)
A major issue the legal cannabis market has to deal with is raising money. Because of discrepancy between states and federal laws, banks still often are not willing to open checking accounts and do not lend money for cannabis business. A report by paymentssource.com indicates that a shop that handles its payments electronically is less able to commit tax fraud and less likely to be a target of theft. As result, some concerns that financial institutions have may be dealt with. "You're starting to see a tendency, a healthy capitalistic tendency, for banks and credit unions that know they are missing out on or losing money by not working with marijuana businesses," said Serge Chistov, an investor and financial consultant for Honest Marijuana, a recreational grow house in Denver, Colorado.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On October 23, 2017, the company announced that it projects sales of $500,000 in October and continued sales of at least $500,000 per month over the next three months. GB Sciences recorded unaudited sales of approximately $320,000 in the three months ended 9/30/17. The company is operating at 200 grow lights, which is only 30% of its expected final capacity after build out is completed. After the final build out, cultivation revenues will continue to increase with a target flower capacity of $18Million annually. The company is expected to open its production facility in late November or early December of 2017. This operating unit should generate additional significant free cash flow from oil over 2018 at a steadily accelerating pace.
https://www.prnewswire.com/news-releases/legal-cannabis-market-continues-to-mature-659060073.html
Recent GBLX News
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/30/2024 09:13:41 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 09:24:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 07:12:09 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/12/2024 09:39:05 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 10:07:34 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 10/10/2023 02:00:29 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM