Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) has been on the rise in recent weeks as the cannabis sector rebounds and start giving us some winners again. Namaste is one of the most exciting companies in small caps with an ambitious vision for Namaste to become the Amazon of medical marijuana, providing the biggest inventory of vaporizers and cannabis products and accessories on the planet.
Namaste Technologies Inc. is one of the largest online retailers for medical cannabis delivery systems globally. Namaste retails vaporizers and smoking accessories through e-commerce sites in over 20 countries with distribution hubs located around the world. 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 the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
Namaste has a huge web presence and international internet distribution network that records traffic from over 180 countries. The company offers virtually all high end brand vaporizers. Some of Namaste’s websites include namastevapes.ca, namastevaporizers.co.uk, namastevaporizers.ie, everyonedoesit.com, everyonedoesit.co.uk, everyonedoesit.ca,namasteMD.com and grizzlyoriginals.com. Namaste also has majority market share in Europe and Australia, and operations in the United Kingdom, Canada and Germany and has opened new supply channels into emerging markets, which include Brazil, Mexico and Chile. Namaste has an ambitious vision to become the Amazon of medical marijuana, providing the biggest inventory of vaporizers and cannabis products and accessories on the planet.
Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify 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 through its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.
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In December Namaste announced record-breaking unaudited gross revenue of more than $2.6 Million across its global online platform, representing approximately 52% growth from October 2018 and approximately 30% growth year-on-year after excluding US revenue derived during the month of November 2017. After a successful Black Friday through Cyber Monday holiday weekend and with strong sales through November, the Company anticipates seeing strong revenue in December and into the new year. The Company has been focused on cannabis sales through its wholly-owned subsidiary, Cannmart Inc. Canada’s first medical cannabis sales-only licensed issued to a non-cultivator and an online marketplace where medical patients can purchase medical cannabis sourced from a variety of producers across Canada. By expanding on the product offering through Cannmart, the Company anticipates building its platform to represent the most diverse offering of high-quality cannabis products available in the Canadian market.
Namaste is led by CEO Sean Dollinger a serial entrepreneur with a history of founding and successfully operating several start-up companies mainly focused on e-commerce. Sean started selling vaporizers online and the business soon took off. Sean used to do regular youtube videos but on December 26 he made the last one stating:
“Hi this is Sean Dollinger, President and cofounder of Namaste technologies. I want to start off by washing everyone a happy and healthy holiday. As well thank you very much to our loyal shareholders and investors who have been with us since our inception on March 2016 when we went public with a market cap of just $6 million dollars. In 2018 was a fantastic year and we saw our market cap surpass a billion dollars several times and we executed on a ton of objectives and goals that we had. After speaking to advisors over the last few weeks we have decided that our messaging going forward should represent a multi hundred-million-dollar company. That being said Namaste 420 definitely served its purpose in 2018 where we were able to connect with shareholders and investors and really show the story and explain the story in greater detail. However, in 2019 we are looking forward to doing that via the proper news channels and really sharing our message in a professional format. With that being said we have removed all previous Namaste 420 videos as that is old news and we will remain focused on our goals and objectives for 2019. Again thank you very much for being believers and shareholders and I look forward to executing on everything we have promised in 2019. From all of us to all of you; Namaste.”
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Currently trading at a $310 million market valuation Namaste is fully funded going forward with $34 million $CAD war chest in the treasury, virtually no debt and fast growing sales reporting $18,561,31 in revenues for fiscal 2018 up from $10 million in 2017. Namaste is an exciting Company very well positioned to cash in on the coming Canadian Cannabis craze; they are one of the largest online retailer for medical cannabis delivery systems globally operating e-commerce sites in over 20 countries with distribution hubs located around the world and is now also focused on cannabis sales through its wholly-owned subsidiary, Cannmart Inc. Canada’s first medical cannabis sales-only licensed. Namaste has an ambitious vision to become the Amazon of medical marijuana and they have a competitive advantage in place with an already established web presence with domains that have been around for years. 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.