Categories
Marijuana

General Cannabis Corp (OTCMKTS:CANN) Announces Opening of An Office in New York To Increase Footprint on the East Coast

General Cannabis Corp (OTCMKTS:CANN) is expanding the footprint on the East Coast by opening an office in New York to capitalize on the growing legalized cannabis in the US. The office in New York serves as a strategic location for the company to meet the needs of existing clients on the East Coast. It also helps to establish new alliances, attract new talent and continue the expansion in the eastern US.

Executive Chairman (Board) of General Cannabis, Michael Feinsod said it is time for the company to make considerable investments and establish its presence in the region. It helps to capitalize on the growing trend as states like New Jersey and Massachusetts have favored the sale of cannabis for adult use. He further said the region offers immense potential for cannabis growth.

General Cannabis is pursuing expansion plans aggressively by strengthening marketing, security, and operations on the East Coast. New York Office will serve as the basis for strengthening its footprint and indulge in acquisitions and mergers. Chief Executive Officer of General Cannabis, Robert Frichtel said the company is well positioned to serve the existing and new license participants on the East Coast utilizing the experience it gained in Colorado and California. The market for adult use cannabis is growing at a fast pace in New England.

General Cannabis Corp Announces Appointment of Brett Wendt as General Counsel and Vice President

General Cannabis Corp has appointed Brett Wendt as a General Counsel and Vice President. His earlier stint was at National Employment Group as a lead member supporting Kutak Rock, LLP. Wendt represented a lot of regional and national clients relating to the employment law and business while working at Kutak Rock. He will strive to support the growth of General Cannabis Corp while ensuring regulatory compliance. Wendt will also play a vital role in expansions and acquisitions.

General Cannabis Corp Reports Robust Q2 Results

General Cannabis Corp has announced excellent Q2 results in 2018. The company has posted revenues of $1.11 million (up 34%) in Q2, 2018. The operations segment is finding more opportunities as many states are allowing legal use of Cannabis.

Categories
Marijuana

General Cannabis Corp (OTCMKTS:CANN) Seeking A Direction

General Cannabis Corp (OTCMKTS:CANN) finalized a $955,000 two-year deal to manage a cultivation facility in California. This exhibits the largest single contract the firm has undertaken since inception. The firm also intends to offer significant other services, including supply and hardware procurement, in addition to the preliminary contract terms.

The details

Robert Frichtel, the CEO of General Cannabis, reported that they have been advancing prospective customers in California for the preceding year, where cannabis gets legalized for adult use on January 1, 2018. California will turn the world’s largest regulated and legalized cannabis market at the start of the new year. They are delighted to have gained a robust foothold in what is estimated to be a $7 billion state-wide market.

The new deal for Next Big Crop, the management and business consulting arm of General Cannabis, showcases the second key California-based assignment for the firm. Iron Protection Group, the company’s security segment, started an office near Sacramento in 2017.

Richard Cardinal, who is the MD of Next Big Crop, expressed that they have worked to tailor their scope of services and offerings to accommodate California’s emerging regulatory framework. This contract, along with their prevailing management of one of renowned medical cannabis cultivation facilities, exhibits Next Big Crop’s leadership place in cannabis businesses and crop management countrywide. They expect additional key deals throughout the first- and second-quarter of 2018, which should result in significant growth for the year.

Michael Feinsod, the Chairman of General Cannabis, expressed that revenue from this new deal alone for the two-year deal period would be almost equal to Next Big Crop’s trailing one-year operations revenue source for the period ending September 30, 2017. The foundation for company is now stronger as well as more expansive. They are very delighted about the opportunities for business development in coming period.

Categories
Marijuana Medical

General Cannabis Corp (OTCMKTS:CANN) Positioning For Expansion Opportunities

With the demand for different facets of the cannabis market rushing behind momentum after election cycle, legal marijuana and cannabis based companies including General Cannabis Corp (OTCMKTS:CANN) are gaining by rapid expansion and launch of innovative products/services. Other firms active in the respective sector include Marapharm Ventures Inc. (OTCMKTS:MRPHF), AURORA CANNABIS IN COM NPV(OTCMKTS:ACBFF) and others.

Marapharm has entered into a contract to purchase an industrial facility sited in southern California and three medicinal marijuana licenses for retail, manufacturing and grow application. The land area is 40,510 square feet and the current building acreage is 6,875 square feet, with a clearance for 19-foot-ceiling, for an acquisition price of $3.2 million, depending on $450 per square foot for the edifice and $65 per square foot for the asset.

The yard part is paved and appropriate for greenhouse cultivation. Marapharm said that the purchase is dependent on the closure of satisfactory due diligence, comprising background checks, and necessary documentation for the release of the three licenses to company within 120 days, with the completion to take place after 120 days from the elimination of contingencies.

Linda Sampson, the CEO of Marapharm, reported that they are really excited to get such a prize asset as well as 3 licenses, and to be in this growing market in California. The ‘Yes’ vote in the state is significant for numerous reasons. They have 300,000 square feet of medicinal marijuana licenses, facilities and assets in WA and NV and, nearly two and a half years earlier, the company applied in Canada for a MMPR license, having since approved the necessary security nods. The application is in the in-depth screening procedure. In September, Health Canada approached Marapharm with a provision to modify its application to permit for the new guidelines, known as ACMPR.

In other developments, Terra Tech reported its third quarter 2016 results for the period closing September 30, 2016. The CEO Derek Peterson commented that they are encouraged to see their plan to expand retail presence is driving top line growth.

Categories
Marijuana

Is It Time To Stay Invested In General Cannabis Corp (OTCMKTS:CANN)?

General Cannabis Corp (OTCMKTS:CANN) showed exceptional performance in a sector-wide growth, however, it is notable to assess here is that the irrespective of a capital surge, the balance sheet of firm remains weak. It implies that its valuation of $125 million is not well-supported by fundamentals.

The buzz

General Cannabis equity witnessed remarkable up move during the election period this year. The firm, formerly known as ‘Advanced Cannabis Solutions’ and sited in Colorado, offers various services to the expanding industry, comprising security, advisory, apparel, supplies, real estate and branding. The equity did record strong up move, but it has plunged from the high of $5.19. It should be noted that it has surged more than 570% from level of $0.77 seen on August 31, 2016.

For stockholders who made money from their trades, analysts suggest that trades should be closed regardless of the recent drop of 28% from the high point. They are predicting the equity to go even lower in the imminent months. This cautious approach on the stock can be linked to the notable capital raised by firm.The capital generation noted in recent period, which was confirmed in an 8-K filing, can be the reason for the stock price drop.

General Cannabis raised $3 million via the release of warrants and promissory notes, with sum of $550,000 used to close prevailing debt and the amount indicating new funding. It has interest of 12% and is set to mature in 2019. The firm released 4.5 million warrants and 4.5 million warrants priced at $0.75 and $0.30, in that order. It presently has 15.6 million shares due, hence the 9 million warrants will boost the float rather considerably.

Also, with higher trading volumes, the 9 million warrants imply more than 10 times the count of traded shares daily on average in the preceding month.

Marapharm Ventures Inc. (OTCMKTS:MRPHF) gave timelines for Las Vegas project that was confirmed in PRs issued on November 14 and November 23, with updates followed on December 4 and December 6, 2016. The CEO, Linda Sampson, expressed that they are overwhelmed with the developments in marijuana industry. Almost 50 million adult visitors come to Nevada every year, which shows considerable growth prospects.

Categories
Marijuana

Is The Market Valuation Of General Cannabis Corp (OTCMKTS:CANN) Justified?

General Cannabis Corp (OTCMKTS:CANN) advanced remarkably in a sector-wide rally, however, it is important to analysis here is that the despite a capital increase, the balance sheet of company remains weak. It indicates that the valuation of $125 mm is not acceptable.

The details

​Cannabis shares witnessed a big run-up before and after the elections this year. General Cannabis, formerly termed as Advanced Cannabis Solutions and located in Colorado, offers numerous various services to the industry, comprising security, consulting, apparel, supplies, branding and real estate. Indeed, the shares did record strong gains, but it has moved down from the high of $5.19, where it has surged over 570% from its close of $0.77 on August 31, 2016.

For investors who were able to gain, analysts believe that it should be sold​ irrespective of the 28% drop from the peak. They are anticipating the stock to go even lower in the coming months. This cautionary view on the stock can be attributed to the atrocious capital raise by company. The recent capital generation, which was itemized in an 8-K filing, as the reason for the big decline.

General Cannabis raised $3 mm via the issuance of warrants and promissory notes, with $550,000 used to pay off prevailing debt and the balance indicating new capital. They bear interest at 12% and mature in 2019. The company issued 4.5 mm warrants and 4.5mm warrants priced at $0.75 and $0.30, respectively. It presently has 15.6 mm shares due, so the 9 mm warrants will support the float rather considerably.

Even with tremendously higher trading volumes, the 9 mm warrants indicate more than 10X the count of shares traded daily on average in the past month.

Marapharm Ventures Inc. (OTCMKTS:MRPHF) released updates of timelines for Las Vegas, Nevada project confirmed previously in PRs released on November 14, November 23, December 4 and December 6. Linda Sampson, the CEO, said that they are thrilled. Nevada has almost 50 million adult invitees annually and marijuana is legal for recreational and medical use so the industry is beyond huge and they will be prepared!

Categories
Marijuana

General Cannabis Corp (OTCMKTS:CANN) Releases Q3 Earnings Report

General Cannabis Corp (OTCMKTS:CANN) has recently issued its third quarter earnings report.

“As a publicly traded leading consolidator in the cannabis industry, we continue to see significant opportunities as additional states legalize medical and adult-use marijuana,” noted Robert Frichtel, General Cannabis CEO, on this.

Q3 Financial Results

The company had a total revenue of $0.81 million, up year-over-year from $0.59 million. This includes a service revenue of $0.70 million, up year-over-year from $0.55 million; a product revenue of $80,326, up year-over-year from $9,494; and a tenant revenue of $25,565, down year-over-year from $29,365.

The total operating costs had amounted to $2.11 million, up year-over-year from $1.84 million. Share-based costs had amounted to $0.87 million; selling, general, and administrative (SG&A) costs had amounted to $0.49 million; cost of service revenues had amounted to $0.48 million; depreciation and amortization costs had amounted to $97,988; professional costs had amounted to $95,520; and cost of goods sold had amounted to $77,252. Consequently, General Cannabis had an operating loss of $1.30 million, up year-over-year from $1.25 million.

For the period, the company had a net loss of $14.45 million, up year-over-year from $1.70 million. This indicates a basic and diluted earnings per share (EPS) of $(0.93), which is comparable to the $(0.12) posted during the same period in 2015.

Year-to-Date (YTD) Financial Results

YTD, General Cannabis has a total revenue of $2.20 million, up year-over-year from $1.08 million. This includes a service revenue of $1.99 million, up year-over-year from $0.95 million; a product revenue of $0.12 million, up year-over-year from $34,861; and a tenant revenue of $93,398, down year-over-year from $93,954.

Operating costs have amounted to $5.35 million, down year-over-year from $7.19 million. Consequently, the company has an operating loss of $3.14 million, down year-over-year from $6.11 million.

General Cannabis has a net loss of $16.97 million, up year-over-year from $6.88 million. This indicates a basic and diluted EPS of $(1.11), which is comparable to the $(0.50) posted during the same period last year.

On Friday, General Cannabis has surged 4.17%, closing at $3.

Pin It on Pinterest