GreenGro Technologies, Inc. (OTCMKTS: GRNH) has been moving steadily higher in recent days after the Company announced their entry into the booming CBD space with the launch of its newly formed CBD Subsidiary, EMS Meds, Inc., which will focus on the research and development of a full line of premium CBD products
CBD stocks getting a boost after reports Coca-Cola is monitoring the nascent industry and is interested in drinks infused with CBD. With a rising number of various CBD products available in mainstream markets, consumers are spending more on CBD products than ever before. The Brightfield Group estimates the space will top $22 billion within the next 4 years, making it one of the more enticing spaces from an opportunity standpoint.
GRNH operates in the red hot cannabis market responsible for many of the hottest stocks on the OTCBB. The sector continues to be red hot as legal marijuana sales are expected to grow to more than $20 billion by 2022, from approximately $10 billion in 2018, according to Marijuana Business Daily.
Greengro Technologies (OTC: GRNH) bills itself as a world class provider, of an eco-friendly, green technology with a specific domain in expertise in an indoor and outdoor agricultural science system. Serving both the consumer and commercial farming markets. Greengro sells eco-friendly greenhouse systems as well as hydroponic supplies through their retail store in Anaheim, California. The Company was founded back in 1996 as Authoriszor, Inc.
Greengro has been making some big moves in 2018; in February the Company announced the highly anticipated grand opening of its Cathedral City-based dispensary through its tenant igot420. The anticipated opening will occur, on “4:20” 2018, with a soft opening scheduled for April 1, 2018. The Company noted that the only matter that could cause a delay would be associated with its application with the State of California for a temporary license to sell recreational cannabis. The Company’s current delays were due to necessary modifications made to ensure the dispensary would meet the state of California new design standards for all new microbusiness models.
The grand opening of the Company’s igot420’s second dispensary, follows the opening of its flagship store in North Hollywood, a 14,000 square foot store which opened in October 2017. GreenGro Technologies was able to use proceeds from last year’s $4 million financing to secure the buildout of the Cathedral City dispensary and is well underway to secure igot420’s third and fourth locations in southern California. The Company noted that it expects management contracts from its igot420 dispensary to contribute to its growing revenue streams before the end of second quarter.
In March the Company said it plans to submit development plans and seek approval from the City of Adelanto, California to develop a five-acre canna-business park. This unique canna-business park will be designed to perform all cannabis or hemp related activities under one roof as it will exclusively feature Greengros 1-Acre 3-Level Vertical Farm at its epicenter.
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In July GRNH said it is in the process of improving its internal financial and accounting systems through the appointment of a new and significantly more experienced accounting team, which will spearhead the Company’s accounting functions going forward. As a result, the Company is one step closer with its intention of becoming a fully-reporting SEC public entity.
Earlier this year GRNH announced D5 Partners, Inc. CYLC’s wholly-owned operating subsidiary, has entered into an Advisory Agreement with GreenGro Technologies, Inc. subsidiary, Vertical Hydrogarden, a California-based hydroponics grow systems retailer, supplier, and consulting company. Under terms of the Advisory Agreement, GreenGro Technologies and Vertical Hydrogarden will provide testing and quality control services related to the ongoing development of the Grow Box 5000 family of products. The Agreement also outlined terms for Vertical Hydrogarden to acquire future distribution rights to Grow Box 5000 products.
On October 9 GRNH announced the launch of its newly formed CBD Subsidiary, EMS Meds, Inc., which will focus on the research and development of a full line of premium CBD products that will be distributed directly to doctors’ offices, medical facilities and specialty retailers. The announcement is a result of the GreenGro’s formation of EMS Meds, Inc. to develop new and innovative medicines and treatments that are derived from CBD, the non-psychoactive component in cannabis that is known for its health and wellness benefits. As part of the strategic alliance, Dr. Mark Wagner, Founder and CEO of EMS Meds, Inc. has been appointed to the Board of Directors of GreenGro Technologies.
GRNH CEO James Haas commented “The CBD market is growing everyday as more and more consumers are learning how powerful CBD can be as an all-natural alternative to opioids, and can be a natural remedy for such ailments as asthma, insomnia, anxiety, depression, arthritis, among others. Our entry into this significant market was a natural next step for our company as we strive to add new revenue streams to our business model and focus on enhancing shareholder value,” concluded Mr. Haas.
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Currently trading at a $13.5 million market valuation GRNH has $381k in the treasury, manageable debt and reported $126,262 in sales for the 3 months ended March 31, 2018. GRNH is one of the original pot stocks that has been around for years and when the sector heats up this used to be one to own; in 2014 in ran from sub pennies to $1.20. The Company says they have some huge things in the works; the 5-acre canna-business park, the 2 dispensaries in North Hollywood and Cathedral City however there are serious questions if these projects will ever come to fruition. We will be updating on GRNH when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GRNH.
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Disclosure: we hold no position in GRNH either long or short and we have not been compensated for this article.