Rocky Mountain High Brands, Inc (OTCMKTS:RMHB) has been making a steady comeback since trading as low as $0.0053 in December of last year. RMHB hit lows after the Company announced the resignations of Gerry David and Kevin Harrington from RMHB’s Board of Directors effective September 11, 2017. RMHB has fallen a long way over the past months since the $0.164 highs of last year.
MJ penny stocks are once again booming as they seem to be this time of year with Canadian cannabis stocks gained an estimated 250% as a group in 2017. Recreational marijuana is now legalized in eight states and DC, including California where sales began on January 1. The total U.S. legal marijuana sales are estimated between to be around $7 billion in 2017. While it depends on other states legalizing marijuana, future growth is expected to be strong.
Rocky Mountain High Brands, Inc (OTCMKTS:RMHB) bills itself as a consumer goods company specializing in brand development of health conscious, hemp-infused food and beverage products. The Company markets a lineup of four naturally flavored hemp-infused beverages (Citrus Energy, Black Tea, Mango Energy and Lemonade) and a low calorie Coconut Lime Energy drink. Rocky Mountain High Brands also offers hemp-infused 2oz. Mango Energy Shots and Mixed Berry Energy Shots. The Company recently launched a naturally high alkaline spring water, Eagle Spirit Spring Water.
Clever packaging and the purchase price is comparable to Red Bull. I am personally not a fan of energy drinks but not only do I enjoy this stuff, I have recommended it to my friends and several bar owners who also think it’s marketable and have ordered from Amazon. That says a lot. I see definite potential.”
Back when THCZ Initially launched the excitement was palpable with AMAZON rating Rocky Mountain High Hemp Lemonade as the #1 new release in the product category. Cold Spring Brewery in Minnesota initially produced about 4,100 cases recently for the first shipment to Amazon centers as a first test run. The product exploded off the shelves, incredibly selling out with no money spent on marketing in just 3 hours. Cold Springs will produce 45,000 cases for the next run anticipated to ship in about two weeks.
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On March 1 RMHB announced that Jerry Grisaffi, Founder and Chairman of the Board of Directors, sold his controlling interest in the Company to LSW Holdings, LLC through a private transaction that closed on February 28, 2017.
Lily Li, Managing Member of LSW Holdings, LLC, said, “We are excited about our transaction with Mr. Grisaffi and RMHB. We believe that this Company will become a world-wide brand very soon. We plan to merge Rocky Mountain High China into the Company as a wholly-owned subsidiary in the near future. Rocky Mountain High China is currently a non-affiliated company and is the exclusive distributor for Rocky Mountain High Brands in China. This will allow Rocky Mountain High Brands to consolidate the revenue that we generate in China and will benefit the Company’s shareholders.”
On January 3 RMHB announced the following Chairman’s open letter to Shareholders from Michael Welch, Chairman, President and Chief Executive Officer of Rocky Mountain High Brands.
Dear RMHB Shareholders:
We are thrilled to mark the end of a challenging 2017 that ended on a very successful high note and are excited about our prospects for the coming year. This new year marks the start of our new, bold business strategy. It is our goal to transform Rocky Mountain High Brands to be the leader in the hemp-infused industry. We want to build on our legacy as one of the few publicly-traded, pure play hemp-infused brand companies in the U.S.
Our vision for Rocky Mountain High Brands is to become a major growth company by bringing healthy products to consumers that can improve the quality of their life and add value for our shareholders.
Leadership. During 2017 our executive team identified a new burgeoning, fast-growing market: hemp-derived CBD products. To assist with the strategy and launch of this initiative, Rocky Mountain High Brands successfully recruited former Coca-Cola executive, John Blackington to lead the rollout of the new CBD products, and to oversee the strategic direction of the Company. John joined the Company in the fall of 2017 as Chief Commercialization Officer. The Company also recruited Michelle Krebsbach as its Director of Marketing. Mrs. Krebsbach has over twenty years of experience in marketing and advertising and has been involved in creating several brands from concept to shelf. Earlier in the year, noted beverage leader, Gerry David and serial marketer extraordinaire Kevin Harrington joined the Company as Consultants to the Board of Directors to advise us on this new CBD line, as well as general corporate and business matters.
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Currently trading at a $18 million market valuation RMHB has minimal assets and revenues and growing short term debt that could result in significant dilution. Controlling shareholder LSW Holdings, LLC, has big plans for RMHB to turn it into a world class brand but obviously none of this has come to fruition and the stock has continued to drop. Investors are looking back at the glory days of 2015 when this one skyrocketed as THCZ and hoping some of that magic will come back. Even back then things did not really work out as the run was cut short after the stock was slapped with the dreaded skull & crossbones. We will be updating on RMHB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with RMHB.
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Disclosure: we hold no position in RMHB either long or short and we have not been compensated for this article.