Namaste Technologies Inc (OTCMKTS: NXTTF) is an exciting stock that saw a spectacular rise earlier this year culminating in October when up-listing to the NASDAQ looked like it could happen any day. Since then the stock has come back down caused by the Andrew Left short attack and the entire sector losing ground offering another great entry point.
Namaste Technologies is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and medical cannabis in the Canadian market. The Company has developed and acquired innovative technology platforms including NamasteMD.com as well as a leading e-commerce AI and Machine Learning Company, Findify AB which uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste trades on the TSX Venture Exchange under the symbol “N” and in the US Over the Counter exchange as NXTTF. Namste also trades on the Frankfurt Stock Exchange.
Namaste is already doing big sales! the Company recently reported net revenue for the three months ended August 31, 2018 was $3.9 million, which is comparable to $3.9 million within the same period in 2017. On a year over year basis, Namaste’s net revenue for the twelve months ended August 31, 2018 was $18.6 million (an increase of $7.6 million or 69%) compared to the twelve months ended August 31, 2017. The increase in net revenue during the twelve months ended August 31, 2018 was primarily due to organic growth within the key markets such as United Kingdom, Canada, Brazil, Germany and full twelve months of revenue from Australian Vaporizers which was acquired in March 2017.
An exciting aspect of Namaste is Canmart which received confirmation from Health Canada that it will be allowed to buy pre-packaged, labelled and tested cannabis products in September of last year. Namaste vision for Cannmart is an online marketplace that provides a competitive landscape whereby the many hundreds of licensed producers and micro-cultivators can offer their high-quality products. Currently there are over over 100 Lps in Canada so whether Aphria is one of them or not does not seem to make much difference.
On November 8 Namaste announced the Company has acquired over 28,000 registered users through NamasteMD Inc. and that the Uppy Strain Journal has now been downloaded over 23,000 times. The NamasteMD app is available on iOS and Android devices and online at NamasteMD.com. NamasteMD is an online platform which provides free access to medical cannabis consultations through secure video conferencing. The Uppy Strain Journal collects user-generated data on cannabis strains and their impact on various medical conditions.
NamasteMD’s recent growth is attributed to an increase in organic traffic and patient referrals, and represents a 48% increase from the previous month. NamasteMD connects patients with licensed producers including the Company’s wholly-owned subsidiary, Cannmart Inc. to purchase medical cannabis products. The Company anticipates further growth of the NamasteMD platform and has expanded its network of healthcare consultants to meet demand. The Company also intends on submitting the app to the Apple and Google Play stores in the UK, where it will leverage its existing database of over 500,000 users to develop a similar model to its Canadian market. Namaste is continuously looking to expand its platform in other regions where telemedicine and cannabis become legalized. With over 1.5 million customers globally and Namaste operating in over 20 countries, the Company will have a competitive advantage in emerging markets.
Namaste is led by entrepreneur Sean Dollinger, you can find him here on Youtube. Sean has a vision of Namaste to become the Amazon of medical marijuana.
We will be updating on Namaste when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Namaste.
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Disclosure: we hold no position in Namaste either long or short and we have not been compensated for this article.