AI
CANA got MOMO rising...
March 10, 2011
California and at least 14 other states allow the cultivation of medical cannabis, and the gardeners who grow the green stuff in these states need more than just seeds, soil and water to make sure their crops come in strong and healthy.
That’s why Orange-County based General Cannabis is going public. According to a March 10 article in the San Francisco Chronicle, the company posted an income of $1.2 million in 2010 on revenue of $7.7 million. The firm filed papers with the Securities and Exchange Commission on March 1, stating plans to raise $10.5 million in an IPO.
General Cannabis operates businesses such as WeedMaps.com, which help users find some of the more than 800 registered cannabis dispensaries; a company that handles administrative tasks for dispensaries; and a company that processes payments for dispensaries. “We are a technology company with an affinity toward medical cannabis,” General Cannabis CEO Jim Palukis told the Chronicle. Palukis also said he believes medical cannabis could eventually be a $60 billion industry nationwide. “The market will just continue to expand.”
Former Morgan Stanley investment banker Derek Peterson is another entrepreneur who sees gold in helping growers grow the best medicine they can.
Peterson is now the Technology CEO at GrowOp, an Oakland-based company that produces trailers especially designed for growing cannabis – also known as marijuana – at a price of $30,000 to $80,000 apiece. These are state-of-the-art grow facilities, to say the least. The temperature, lighting, nutrients, watering and humidity can all be operated remotely via an IPhone app.
Although GrowOp has not filed papers for an IPO, Peterson said that would be happening later this year.
For the full story, please see “Pot-growing suppliers planning IPOs” by Ryan Flinn of Bloomberg News at SFGate
GrowOp Technology CEO Derek Peterson is converting trailers into ideal environments for growing marijuana. The Oakland company sells the trailers for $30,000 to $80,000.
Prohibition's End
If you were CEO Jim Pakulis, what would you do with General Cannabis? What kind of acquisitions would you make for the company? Careful what you say, they might be listening and take your advice.
Collective Intelligence is what will win in the end....
Collective Common Sense says Just do the Right Thing, at the Right Time.
Read more about Medical Cannabis and lets Stop doing the Wrong Things at the Wrong Time.
Medical cannabis,Wikipedia
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