Leafbuyer Technologies Inc (OTCMKTS: LBUY) has exploded up the charts in recent week as pot stocks heat up across the board and shake off the slump that started in October when legal pot hit Canada.
On January 7 Leafbuyer launched Phase One of its multiphase blockchain initiative on December 20, 2018. This first phase integrates with the Company’s loyalty platform, Leafbuyer Loyalty. This launch creates the bridge for cannabis consumers to eventually complete monetary transactions electronically with dispensaries and product companies. Now, within the Leafbuyer Loyalty application, consumers can choose to create their own blockchain wallet, called the Leafbuyer Wallet. Immediately, when a consumer creates a Leafbuyer Wallet account at a participating dispensary, a link is sent through SMS to their mobile device. Through this link, the consumer can view their account, track all transaction history, and see their loyalty points. Leafbuyer Wallet consumers can visit their account at any time through their smartphone without needing to be onsite at a participating dispensary.
Leafbuyer Technologies Inc bills itself as one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside businesses to showcase their unique products and build a network of loyal patrons. Leafbuyer’s national network of cannabis deals and information reaches millions of consumers every month. Leafbuyer is the official cannabis deals platform of Dope Media, LA Weekly, and Voice Media Group. Founded in 2012, Leafbuyer partners with cannabis dispensaries and product companies across the United States to bring the best legal cannabis deals to consumers. They have also been clouted as the industry’s first one-stop-shop for cannabis advertising, education, and information.
The Company says leafbuyer.com traffic is growing fast recently reporting annual website traffic growth to Leafbuyer.com of 375%. Leafbuyer’s new session numbers also grew nearly 30% from March 2018. The growth comes after the company rolled out its new product directory and added major search functionality to its industry leading cannabis deals database.
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In November announced its quarterly sales rose 67% in the quarter ending September 30, 2018. The increase reflects the revenue booked in the quarter versus the same quarter of the previous year. Sales were $387,517 for the Quarter ended September 30, 2018 up from 200k for the same period last year.
CEO Kurt Rossner said
“We are pleased with our revenue growth and believe the rate of growth will continue into 2019 as we add sales and marketing resources. We will also be rolling out expansion plans for our new Greenlight acquisition and will continue to increase the expansion of our platform in all legal markets, including Canada.”
In December Leafbuyer announced its integration with five industry leading Point of Sale (POS) systems, including GreenBits, Adilas, Cova, MMJ Menu, and MJ Freeway. POS systems help dispensaries in every legal market track cannabis products from seed to sale and then conduct a transaction. At any point, the dispensary’s POS system knows the total inventory for every product in the store. By integrating with these technologies, Leafbuyer is not only able to display real-time, accurate information to consumers looking to pre-order online, but will soon be able to pull purchase information. Leafbuyer is working to expand its POS capability and plans to announce more in the near future as the company expands its national footprint.
“Integration takes our consumers’ online ordering experience to the next level,” said Mark Breen, COO of Leafbuyer. “Consumers need to know immediately if, for example, their favorite edible is in stock before they pre-order. If we didn’t integrate with POS systems, we would have to rely on people to update the inventory, which leads to human error. Now, it’s automated.”
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Currently trading at a $39 million market valuation LBUY has $183k in the treasury, little debt and fast growing revenues recently reporting $387,517 in sales for the 3 months ended September 30, 2018 up from $231,515 for the same period last year. LBUY is an exciting story developing in small caps; leafbuyer.com is the first major cannabis technology platform to combine all three major advertising initiatives for legal dispensaries into one offering, called “The Ultimate Bundle.” The website is also experiencing exponential growth. We will be updating on LBUY when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with LBUY.
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Disclosure: we hold no position in LBUY either long or short and we have not been compensated for this article.