Retail Cannabis Sales are Projected to Grow
NEW YORK, December 7, 2017 /PRNewswire/ --
Data published by Arcview Market Research forecasts that growth of the legal cannabis industry will reaccelerate beginning in 2018, as adult use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. That will grow the $6.7-billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. That 20 plus percent annual growth rate is likely to continue after 2021, as more states and countries legalize cannabis. The report also points out that retail sales taxes in state-sanctioned cannabis markets totaled more than $500 million in 2016 in Colorado, Washington, and Oregon alone, and $836 million since adult-use sales began in 2014. These retail sales reflect both medical and recreational (adult use) products. Cannabis is legally used to manage conditions such as polymorphic seizures and chronic pain, Millions more are consuming it legally in adult-use states with little or no negative impact, according to the research. Namaste Technologies Inc. (OTC: NXTTF), Kush Bottles, Inc. (OTC: KSHB), MassRoots, Inc. (OTC: MSRT), Terra Tech Corp. (OTC: TRTC), General Cannabis Corporation (OTC: CANN)
Over 40% of cannabis business owners are planning to take their companies into a new market within the next year. According to a Marijuana Business Daily survey, "Of the business owners intending to expand, the vast majority have identified opportunities in both the medical and recreational markets. With sales continuing to grow rapidly in mature recreational cannabis industries like Colorado and Washington state - and promising new medical markets such as Maryland, Ohio and Pennsylvania set to come online in the near future - it's perhaps not surprising that many entrepreneurs are looking to expand into both medical and adult-use markets."
Namaste Technologies Inc. (OTCQB: NXTTF) also listed on the also listed on the Canadian Stock Exchange under the Ticker 'N'. Just earlier today the company just announced breaking news that, "record breaking sales for the month of November 2017, as reported by the company (including shipping revenues after discounts and refunds) of C$2.2M, representing a 69% month-on-month increase and a 146% year-on year increase, representing Namaste's highest month of revenue in the company's history. In addition to achieving record breaking sales, the month of November has been transformational for Namaste and its shareholders. The company's exponential growth further validates that many initiatives which management has implemented over the past year have been overwhelmingly successful. Namaste has grown and consolidated the cannabis hardware industry to become the largest business-to-consumer retailer for vaporizers and smoking products globally. Namaste through its wholly owned subsidiary, Cannmart Inc. ("Cannmart") and through the launch of NamasteMD Inc. ("NamasteMD") believe that the company is poised to become a global leader for medical cannabis sales. The table below displays a breakdown of Namaste's gross revenue by sales channel. Total un-audited net revenue as reported by the Company (including shipping revenues and after discounts and refunds) were C$2,221,340 in November 2017 compared to C$1,313,653 in October 2017, a 69% increase due to higher revenues from all revenue channels. Year on year revenues increased 146% in November 2017 compared with November 2016. In addition to the overwhelming success of Namaste's Black Friday and Cyber Monday sales campaigns, the company has also seen strong revenue growth in other sales channels.
While the Company is pleased with record breaking sales and organic revenue growth, Namaste anticipates seeing further growth once Cannmart's sales license for medical cannabis distribution is obtained and through the launch of NamasteMD. Namaste's management team believes that once these two initiatives are in place, the company will play a crucial role in the Canadian medical cannabis industry through online retail. From the outset management has been focused on creating a seamless customer experience that allowed cannabis patients the ability to use Namaste's platform throughout the entire medicinal cannabis process. Through the Company's innovative telemedicine application, NamasteMD, patients will not only be able to obtain their medical cannabis documentation but will also have access to highly trained professionals who will consult, educate and support all patients. NamasteMD and O Cannabis We Stand on Guard for Thee Corporation ("O Cannabis"), which will act as Namaste's partner for patient acquisitions, will play an integral role in ensuring Namaste's patients are well care for. The final link will be achieved through Cannmart and will allow Namaste the ability to offer patients the widest range of consumables in the market. Management believes the with the infrastructure it has strategically assembled, that the Company will become Canada's leading online retailer for medical cannabis. Namaste has demonstrated its ability to succeed in the niche market of vaporizers, and believe our successes will translate over to consumables once our sales license is obtained. This will pave the way for Namaste to become a global leader and one of the first and only "One Stop Shops" in the cannabis space. Management Commentary Sean Dollinger, President and CEO of Namaste comments: "We believe our platform is the best solution for cannabis users looking to embark on their journey into medicinal cannabis use. Namaste's goal from the outset was to create a platform that provided users with all the products and services required to make well informed decisions. We believe we have achieved that by providing our users access to highly trained professionals that can help guide them throughout the process and by offering the best products at the most competitive prices in the market. Our continued growth in sales proves the e-commerce infrastructure we have created is highly successful and we fully intend on duplicating those successes with regards to consumables, which we believe represents and even greater opportunity. We believe we now have all the pieces in place to fully exploit both the 3 recreational and medical cannabis markets in Canada and abroad. In addition to seeing significant growth in sales, management is also pleased to report that the company currently has over C$5M of cash on hand. Namaste's management teaming is working towards reducing operating overhead in order to further enhance it's positive working capital position..."
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. On November 28, 2017, the company reported financial results for its fiscal year ended August 31, 2017. Revenue was up 129% Year-over-Year to $18.8 million; revenues included four months of sales from CMP Wellness which was acquired on May 1, 2017.
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. On October 18, 2017, the company announced today the release of its new Dispensary Finder service with 6,000 entries that catalogue all medical, recreational and delivery-based dispensaries in nine states. MassRoots launched its Dispensary Finder service together with Sweet Leaf, a leading medical and recreational dispensary chain with over 20 locations in Colorado, California and Oregon with headquarters in Denver, as Dispensary Finder's first promoted customer. "We want to deliver a great experience for users looking to find marijuana where it's legal," said newly appointed MassRoots interim CEO Scott Kveton. "Unlike Weedmaps and Leafly, our web-and-app-based tool lists every storefront regardless of whether they are paying us to be displayed."
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company that is committed to cultivating and providing the highest quality medical cannabis and other agricultural products. On November 1, 2017, the company provided an update on the planned joint venture with NuLeaf Sparks Cultivation LLC and NuLeaf Reno Production LLC, in Nevada, which was announced on August 30, 2017. A wholly-owned subsidiary of Terra Tech has made a convertible loan to NuLeaf Sparks, and a convertible loan to NuLeaf Reno, both of which will automatically convert to 50% ownership of the NuLeaf entities upon approval by the State of Nevada. The joint venture is expected to fast track Terra Tech's cultivation and production facilities, allowing it to increase supply of its proprietary IVXX wholesale brand to meet the growing demand for cannabis products throughout Nevada.
General Cannabis Corporation (OTCQB: CANN) is the comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry. The company are a trusted partner to the cultivation, production and retail side of the cannabis business. On November 07, 2017, the company announced financial results for the quarter ended September 30, 2017. For the three months ended September 30, 2017, the company reported its highest quarterly revenues on record of approximately $980,000, representing an increase of 21% in total revenues when compared to the three months ended September 30, 2016. Total revenues for the nine months ended September 30, 2017, increased 15% when compared to the nine months ended September 30, 2016.
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