Namaste Technologies Inc (OTCMKTS: NXTTF) continues to dominate the markets topping $10 million in daily trading volume and running up the charts after the Company said they are now closer to meeting the requirements to list on NASDAQ. Based on the Company’s current share price, and the anticipated increase in sales through the launch of its Access to Cannabis for Medical Purposes Regulations (“ACMPR”) sales license, the Company currently intends on reaching the share-price target organically without any share consolidation.
Namaste has transformed into a major player in the booming cannabis space responsible for many of the hottest stocks and biggest winners in small caps. The sector continues to gain traction as legal marijuana sales are expected to grow to more than $20 billion by 2022 according to Marijuana Business Daily. As October 17 looms closer Canadian MJ stocks have been heating up big time. Cannabis stocks have easily outpaced the broader markets this year and for good reason; the recreational cannabis market is projected to expand at a compound annual growth rate of 19.75% over the next decade, easily making it among the fastest growing areas of the global economy by a wide margin.
Namaste Technologies Inc (TSXV: N OTCMKTS: NXTTF) is one of the largest online retailer 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 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, through its acquisition of CannMart Inc., a Canadian-based late-stage applicant for a medical cannabis “sales-only” license under Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”), is pursuing a new revenue vertical in the online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers along with its technology and expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.
Namaste is currently experiencing huge grouth; On September 5 Namaste announced the Company has achieved a 300% month-on-month growth rate in its Canadian marketplace, in comparison with August of 2017, and 50% growth globally. In the month of August of 2018, the Company generated $1.65M in revenue which represents a 50% increase in revenue in comparison with August of 2017 after consideration of the loss of revenue due to Namaste divesting its US assets that were incorporated into its 2017 sales. The Company has also achieved over 300% growth on its Canadian websites, which now includes over 17,000 customers.
Namaste is well positioned for future growth with industry-leading platforms such as Findify AB, the Company’s AI machine learning platform, Namaste MD (“NamasteMD.com”), Canadas first fully integrated online patient consultation app available on iPhone and Android devices, its partnership with YBP Group Ltd. a leading consumer goods authentication platform, and Namaste’s exclusive age and identity verification technology which incorporates facial recognition for cannabis e-commerce. Through its technology platforms, global partnerships and its consumer base, Namaste is well positioned to solidify itself as an innovator and industry leader in cannabis technology.
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Namaste, through its wholly-owned subsidiaries and revolutionary mobile apps, NamasteMD and My Uppy have seen significant growth through summer months. NamasteMD is Canada’s first fully-integrated online patient portal which provides convenient access to medical consultations for the purposes of patient acquisition for the Company. NamasteMD since its launch has acquired over 17,000 registered users, which will drive patient traffic and cannabis sales for the through the Company’s ACMPR Licensed Producer partners and through Cannmart.com.
Namaste is also pleased with the growth of AI-driven cannabis journaling app, My Uppy. In less than 2 months since its launch, My Uppy has been downloaded over 15,000 times by users around the globe. Leveraging Namaste’s international presence and database of over 1.5 Million customers, My Uppy is focused on collecting user feedback as it relates to the use and effects of various strains of cannabis, which provides data to feed Findify’s AI algorithms that together will revolutionize strain recommendations by selecting specific strains for patients based on their conditions and previous use which is being integrated with Cannmart.com
Namaste has been putting out big news in recent days; the Company pre-launched its revolutionary medical cannabis online marketplace CannMart.com, poised to be Canada’s first medical cannabis “sales-only” license under Health Canada’s Access to Cannabis for Medical Purposes (“ACMPR”) program.
Also on September 11 Namaste said it intends to continue to pursue the listing of its common shares on the NASDAQ Capital Market. Due to Company developments and a recent increase in its share price, the Company is now closer to meeting the requirements to list on NASDAQ. Based on the Company’s current share price, and the anticipated increase in sales through the launch of its Access to Cannabis for Medical Purposes Regulations (“ACMPR”) sales license, the Company currently intends on reaching the share-price target organically without any share consolidation.
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Currently trading at a $687 million market valuation Namaste has $43.9 million $CAD in the treasury, very little debt and fast growing revenues reporting $14,627,161 in sales more than double for the same period last year for the 9 months ended May 31, 2018. Namaste is one exciting Company very well positioned to cash in on the coming Canadian Cannabis craze; the Company is 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 they are anticipating a significant increase in sales through the launch of Access to Cannabis for Medical Purposes Regulations (“ACMPR”) sales license. By up-listing to the NASDAQ, Namaste will gain new exposure and access to a larger base of retail and institutional investors in the US and internationally. There is currently huge demand for Namaste stock and the next few weeks should be exciting as we get closer to October 17. 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.