Yes - SGBY entry into the Golden State couldn't be better timed.
Polling shows that Proposition 64, which will legalize marijuana for recreational use in California, is most likely to pass on November 9. This would result in an overnight tripling of the California cannabis testing market to $300 million annually. In addition, the $100 million current market is widely unmet, with only 5% of cannabis in California currently tested according legislative standards.
California Assembly Bill 266, or AB266 as its commonly known, requires that all cannbis products sold in California whether in flower, oil, or edible form, must be tested by an accredited, independent analytic testing lab after December 31, 2017.
In California, Signal Bay is following the template of its successful strategy executed in Oregon, where it is now the dominant player in the state. The Company acquired four testing labs from 2015 to 2016 prior to the implementation of HB3400 in Oregon on October 1, 2016, a law requiring mandatory testing of all cannbis products in the state.
In a previous press release, Mr. Waldrop further commented: "The timing could not be more favorable for us to enter the California cannabis marketplace."
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