NUGL, Inc. (OTCMKTS: NUGL) has formed a solid base here at $2 per share. The Company is trying to up-list to the OTCBB; in June they said they have retained GBH CPAs based in Houston, Texas, to begin the process of auditing its financials in preparation to move up from OTC Pink Market to the OTCQB.
NUGL was organized on November 5, 1998 in Nevada as USA Telecom. Since then they have undergone a number of name changes including USA Telcom Internationale, ZannWell Inc., Blackhawk Fund, and Vidable, Inc., VIBE I, Inc., and Coresource Strategies, Inc.
NUGL, Inc. previously known as Coresource Strategies Inc (OTCMKTS: NUGL) bills itself as the world’s first cannabis search app built for the people, by the people. Our goal is to build the most user-friendly app experience in the cannabis industry by listening to our users and giving them what they want. NUGL is the only cannabis search app that offers equal and unbiased search results. We don’t sell top-spot listings or fake reviews, so our data stays true. Use NUGL to search for genuine user-rated dispensaries, strains, doctors, lawyers, cannabis service providers, vape shops, hydro stores, brands and more.
The Company has been putting out a flurry of press in 2018. In February they stated “NUGL is the New Standard for Cannabis Technology” According to the Company “NUGL.COM is the only cannabis metasearch with equal and unbiased search results. We don’t sell fake reviews or top spot listings, so our data stays true. Our Brand-to-Shop connections offer a simple way to verify brand retailers near you. Find brands, strains, shops and services in the purest way possible.
NUGL.com continues to build what they claim to be simply the best technology in the cannabis industry. As they get closer to launching in BETA format ahead of schedule, they are implementing the building blocks for scalability and massive growth. The new website, which can be found at NUGL.it, is more descriptive and informative and speaks about their future plans. Ryan Bartlette, CMO, explains, “Everything we do is focused on user experience. Our philosophy is simple – make it fun and easy to use, with the purest and most unbiased results.” The new website is laying the foundation to define the NUGL culture and how the company will be perceived in the industry.
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Earlier this year NUGL announced the expansion of its global marketing campaign to include a highly sought-after category – cannabis brands and accessories, which is estimated to be a $9 billion market and growing. NUGL’s user-friendly cannabis search app is designed to respond to the specific needs of the cannabis industry and its consumer base. Adding cannabis brand categories to NUGL’s profile listings allows brands to make connections with dispensaries, which means branded products can now be highlighted at all locations where they are available for purchase.
Earlier this month NUGL said its marketing growth for user sign-ups and mobile app downloads has beaten expectations and outperformed industry standards for similarly situated technology start-ups. NUGL launched its social media marketing campaign in early September. According to InfluencerDB.com, an average follower growth rate on Instagram is between 5 and 7.5 percent each month. Since the start of its growth model this month, NUGL has seen a follower increase of approximately 400 percent and a mobile app download increase of approximately 280 percent.
On October 30 NUGL announced it has expanded internal operations to support sales and marketing growth as well as the anticipated launch of NUGL Magazine. The newly created sales and marketing leadership positions within NUGL include: LA Regional Sales Representative; National Sales Representative; and Online Digital Marketing Manager. Five new consultants have recently been added to the team as a part of this expansion. Collectively, the positions range from national advertising sales associates to internet traffic manager positions and national content contributors.
“We are growing fast, and November is the month to start monetizing our growth. We are creating a massive digital footprint with the acquisition of two magazines underway and the launch of NUGL Magazine. Our digital footprint offers something for all types of cannabis enthusiasts and the NUGL software is at the heart of all of it,” said Ryan Bartlette, CMO of NUGL.com.
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Currently NUGL has $18k in the treasury, $200k in debt and no revenues to date, the stock Company also has a long history of promotions in prior incarnations and there have been many. While the Company states that “NUGL is the New Standard for Cannabis Technology” they are still in the infancy and the website nugl.com has yet to receive any significant traffic. We will be updating on NUGL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NUGL.
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Disclosure: we hold no position in NUGL either long or short and we have not been compensated for this article.