Bronc now this is a MJ play i'll buy into! $2 million in revs? Look at this Newmax article!!
Federal restrictions on marijuana don’t stand in the way of Golden Grail Technology (GOGY), a publicly traded company that sells food supplements derived from a key part of the cannabis plant that doesn’t get people high.
Cannabidiol, commonly known by the initials CBD, has been legal in all 50 United States for the past seven years with no federal restrictions, paving the way for its expanded use as a health and wellness product. Golden Grail sells a pharmaceutical-grade version of the substance, and the medical benefits have been the subject of a growing library of scientific study.
“CBD is the more medicinal part of the plant and is considered an amazing superfood,” says Bill Fisher, head of Golden Grail subsidiary Accurate Venture Inc. “We are by far one of the largest market share holders in the industry and we are gathering up most of what's opening up.”
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Golden Grail has annual revenue of around $2 million and is seeking to expand its distribution next year with the rollout of retail vending machines carrying its Miracle brand of CBD goodies. The strong advantage that Golden Grail has over its competitors is its database of 2 million customers who have ordered products through direct-to-consumer channels. That’s a lot of data that’s ripe for picking by any one of the big-pharma companies.
Because Golden Grail’s products do not contain THC, the chemical in marijuana that causes the psychoactive effects, the company is not restricted from marketing its products to consumers across the entire country. That said, the U.S. Food and Drug Administration has cracked down on other suppliers of CBD goods for mislabeling their products and selling them on the Internet.
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