New York, New York (NetworkNewsWire) – There are a number of
advantages to society and the public safety in regulating
marijuana, but economic arguments also favor its legalization. The
benefits include increased tax revenues, job creation, and reduced
law enforcement costs. However, to legalize and regulate marijuana
requires an ecosystem of support services like those provided by
SinglePoint, Inc. (SING) (SING
Profile), American Cannabis Company (AMMJ), Kush Bottles, Inc.
(KSHB), mCig, Inc. (MCIG) and Terra Tech Corp.
(TRTC).
As a job-creating engine, the industry will be a super powerful
diesel. Reporting on recently released data from New Frontier Data,
Forbes(1) relates industry analyst projections that “by
2020 the legal cannabis market will create more than a quarter of a
million jobs.” These projections are modest, based only on markets
in the 29 jurisdictions that have legalized medical marijuana and
the 10 others that have legalized recreational marijuana.
An industry with this potential requires strong, innovative
spokes that support broader growth and opportunity. One such
innovator is SinglePoint
(SING), which, through its SingleSeed Payments
subsidiary, stands at the ready to make the New Frontier Data
forecasts a reality by offering payment solutions to the cannabis
industry. Its mobile marketing and payment solutions include
cashless ATM, Pay-by-Text™ and text message marketing, while the
SingleSeed.com website is designed as a go-to for dispensaries in
need of merchant payment processing solutions and other business
tools.
“The cannabis industry is on the cusp of unprecedented
liberties, and we are optimistic that as more states vote to
legalize the drug, policymakers will have to take a second look at
how banks will be involved in payment processing. When the industry
becomes bankable, we will already be in on the action as a ‘first
mover’ with mobile technology to revolutionize the cannabis
merchant processing business,” SinglePoint CEO Greg Lambrecht
stated in a press release.
Collaborating with its technology partners, SingleSeed is
developing a marketing program specifically designed for cannabis
accounts, enabling consumers to use their credit and debit cards to
make mobile payments for cannabis purchases.
SingleSeed recently made a significant advancement in its
broader strategy to strengthen its presence in the cannabis
industry when it acquired a stake in Jacksam Corp., dba Convectium,
the developer of a unique oil filling system for the cannabis
industry. The investment in Convectium will help fund the company’s
growth, as well as the marketing of its revolutionary 710Shark and
710Seal oil filling system. Convectium projects full-year 2017
sales of $3.5 million, which would represent a year-over-year
increase of 150 percent, and it is already on pace to meet this
goal, as first quarter sales significantly surpassed sales in the
first quarter of last year.
Another key cannabis player is American Cannabis Company
(AMMJ), which last week announced that it had secured its
first client in the Canadian province of Alberta. AMMJ provides
consulting services to cannabis businesses. The company will be
working with this client to strategically plan business operations,
as well as to develop a robust financial model that will serve as a
foundation for license acquisition. AMMJ will also be involved in
conceptual design work for cultivation and manufacturing facilities
for the client.
Kush Bottles (KSHB) in early May added new
distribution partners in Hawaii and Puerto Rico, two key medical
cannabis markets. Both agreements include ‘reciprocity clauses’
that allow sales to patients with valid medical marijuana cards who
are visiting from other states. Both Puerto Rico and Hawaii are
frequent holiday destinations for U.S. mainland tourists. According
to the Hawaii Department of Business, Economic Development and
Tourism, Hawaii had approximately 9 million tourist visits in 2016.
Kush provides packaging, supplies, accessories and branding
solutions for the regulated cannabis industry.
In Nevada, mCig, Inc. (MCIG), through its
lifestyle brands, services the legal cannabis, hemp and cannabidiol
(CBD) markets. Originally a vaporizer manufacturer, the company has
expanded to become a large-scale, full-service cannabis cultivation
construction company and hemp-based CBD market supplier. mCig
recently reported a 446 percent increase in third-quarter revenue
to $1.3 million and recapped a busy quarter of achievements that
include its first construction project and the expansion of its
Grow Contractors brand into Oregon, where it is constructing a new
facility.
Terra Tech (TRTC) is a vertically-integrated,
cannabis-focused agriculture company that operates through several
subsidiaries focused on individual niches of the cannabis industry.
Its brands include IVXX, Inc., which produces medical
cannabis-extracted products for regulated medical cannabis
dispensaries throughout California. The company’s Edible Garden
subsidiary cultivates a premier brand of local and
sustainably-grown hydroponic produce sold through major grocery
stores such as ShopRite, Walmart, Winn-Dixie, Raley's, Meijer,
Kroger, and others. Focused on the medicinal side, Terra Tech’s
Blüm brand operates retail medical cannabis facilities focused on
providing the highest quality medical cannabis to patients who are
looking for alternative treatments for their chronic medical
conditions. Blüm offers a broad selection of medical cannabis
products, including flowers, concentrates and edibles, through its
Oakland, California, and multiple Nevada locations. Terra Tech's
MediFarm LLC subsidiaries focus on medical cannabis cultivation and
permitting businesses throughout Nevada, while its GrowOp
Technology subsidiary specializes in controlled environment
agricultural technologies.
The marijuana industry is budding with opportunity in the fields
of medicine, retail, edibles and numerous other applications.
Visionary companies like SinglePoint and the others mentioned above
recognize the value of their innovations and how a regulated
industry would benefit their operations, shareholders and the
broader economy.
Sources: (1) http://nnw.fm/n7F3m
For more information on Singlepoint, Inc. please visit: Singlepoint,
Inc. (SING)
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