American Green Inc (ERBB)

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Hydroponics & Cultivation Solutions Continue to Be Profitable Business for Cannabis Industry Operations While Enjoying Tremendous Growth Potential

Company Acquires Hydroponics Company With Expected Potential of $3Million in Revenues
October 22, 2014: 08:55 AM ET


CORAL SPRINGS, Florida, October 22, 2014 /PRNewswire/ --
23 states and the District of Columbia have legalized marijuana for medical use as some financial analysts forecast a total $3.1 billion annual windfall for state governments that legalize the popular plant. The management of licensed marijuana cultivation services & facilities, production and distribution of hemp and marijuana infused food & beverage and ancillary products drive continued growth opportunities in the Cannabis sector. Companies in focus today are:: OSL Holdings (OTC: OSLH), GreenGro Technologies, Inc. (OTC: GRNH), Medical Marijuana Inc. (OTC: MJNA), Hemp Inc. (OTC: HEMP) and American Green Inc. (OTC: ERBB)
OSL Holdings (OTCQB: OSLH), a socially conscious business model dedicated to consumer advocacy, social activism and the advancement of civil liberties through the power of commerce, announced today the acquisition of Go Green Hydroponics, Inc. ("Go Green Hydroponics") a privately held hydroponics, indoor gardening and cultivation supply retail operation, located in Los Angeles, California, specializing in the sale of hydroponic cultivation equipment, mineral nutrient solutions and gardening resources and equipment. Go Green Hydroponics achieved revenues of approximately $2.4 million in the first nine months of 2014 and is expected to reach revenues of approximately $3.0 million in fiscal 2014 with expected future annual revenue increases at a rate of 10% to 15% with expected gross profit margins of approximately 25% to 30%. OSL acquired Go Green Hydroponics for $1.8 million subject to certain post closing adjustments based on a target working capital amount. OSL also closed on a debt financing transaction in the amount of $1.9 million, the proceeds of which were used to fund the Go Green Hydroponics acquisition and for OSL working capital.
Read the full OSLH Press Release at: http://www.financialnewsmedia.com/profiles/oslh.html
Bob Rothenberg, OSL's Chief Executive Officer said, "We are very excited about the acquisition of Go Green Hydroponics. Go Green is one of the most highly regarded brands in the vertical, continues to be a profitable business enjoying tremendous growth in the Los Angeles market." Steve Gormley, OSL's Chief Business Development Officer said, "This acquisition advances OSL's mission and commitment to our Medical Services Division. OSL continues to support civil liberties through the power of commerce." OSL Medical Services is a management, future planning and services platform centered on the development and financing of indoor gardens and cultivation facilities, production technologies, merchandise and operational services for businesses in the herbal and natural medicine industry. OSL Medical Services is designed to support its clients with branding, technology, marketing, logistics, and future planning services on a state-by-state basis throughout the United States.
In other Cannabis/Marijuana news & sector happenings: GreenGro Technologies, Inc. (OTCPink: GRNH) recently announced that it has provided an update for progress made on both BP Gardens Projects. The overall scope of the project encompasses two disparate locations and growing methods. BP Gardens Buena Park features a 30,000 seat full hydroponic grow system while BP Gardens Lincoln employs a zero waste, 80% water saving aquaponics solution. With California facing one of the worst droughts in history, these systems will help change the way we grow, modernizing its processes to become more sustainable for the future. Buena Park has completed the construction of its full hydroponics system and is now in the beginning phase of planting its first crops. Ideally suited for leafy greens, the full hydroponic grow system will provide crops to current customers and partners including local restaurants, retail groceries and cooperatives.
Medical Marijuana Inc. (OTCPink: MJNA)'s portfolio company, HempMeds(TM), recently brought CBD-rich hemp oil products to New York as a sponsor and exhibitor of the International Cannabis Association's East Coast Regulatory Summit and Educational Conference. "When it comes to CBD oil from hemp, one simply cannot get 'stoned' or 'high.' As a result, consumers of CBD hemp oil from HempMeds(TM) range in age from toddlers to seniors. And cannabis is no longer limited to humans. We are extremely excited to have recently announced aNew Pet nutritional solutions for our four-legged family members."
Hemp Inc. (OTCPink: HEMP) focuses on supplying services, products, and information related to the medical marijuana industry or to those who have an affinity for the medical marijuana industry. The company is designing a Website to offer news, issues, entertainment, and education on medical cannabis issues; developing proprietary software for transaction processing, MIS, loyalty program, and social network management; and producing video content that deals with current events as they relate to the industry and is available in high definition over the Internet. Its products include nutraceutical products designed to improve concentration and joint flexibility, increase awareness and energy, and improve overall wellness, as well as to supply hemp and blue-green algae protein; and skin care products for men and women. On Tuesday, HEMP closed up 15.64% on over 24.7 million shares traded.
American Green Inc. (OTCPink: ERBB) recently announced that it has hired Jerry Chesler, a preeminent Arizona and New York medical marijuana business attorney. He will join American Green as its General Counsel and Vice President - Cannabis Operations. Jerry's experience and connections in the marijuana industry along with his proven track record while in private practice, will allow American Green to further expand its business nationwide. According to Stephen Shearin, American Green's president, "Mr. Chesler will play a key role in our new MMJ Managed Services division as well as become an integral part of our overall business. Having Jerry in-house with his long list of industry contacts and national reputation as a cannabis speaker is a big win for American Green."
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