Monday, February 15, 2021 12:25:23 PM
Describe the issuers’ principal products or services, and their markets
Bayport remains extremely active in its cannabis technology ventures. In late December 2018, management decided to consolidate its WeedWiser and Ecannago platforms, under the Ecannago name. The reasoning was the growing issue of illegal cannabis operators trying to utilize Weedwiser in an attempt to look like legitimate legal cannabis companies. While it was viable to manually delete these accounts early on, the sheer volume became too much to handle and thus the decision was made to consolidate the platforms. Management is still very active and excited about the opportunities in the cannabis technology industry, particularly now
that industrial hemp is legal in the United States. In addition, management is considering options with regards to the Weedwiser.com domain. Bayport may look to capitalize on a sale of the domain, if findings conclude there is value in Weedwiser.com.
The Company signed a letter of intent to acquire 360 Eco Wash as a new addition that is nearly officially 100% owned by Bayport. The initial signing of the letter of intent was announced on January 10, 2019, followed by the signing of a binding term sheet on January 15, 2019.
Summary of Holdings:
? Ecannago (cannabis technology platform; combination of old Weedwiser and Ecannago platforms)
? 360 Eco Wash (revenue-generating mobile car wash service in California)
? 10% ownership in 420skybnb (cannabis-based travel and accommodations website)
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