Helix TCS Inc (OTCMKTS: HLIX) has been moving steadily higher in recent weeks to well over $2.50 per share on increasing volume. The stock was trading as low as $0.77 in December of last year.
Helix TCS Incis a leading provider of ancillary services for the legal cannabis industry, helping owners and operators of licensed cannabis businesses stay competitive and compliant while mitigating risk. Through its proprietary technology suite and security services, Helix TCS provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS’s products reach over 2,000 customer locations in 33 states and 6 countries and has processed over $18 billion in cannabis sales.
HLIX is already doing big sales! in November the Company reported total revenues increased 176% to $3.1 million in 2018. Gross profit for the quarter was $1.2 million, a 40% gross margin. Closed acquisition of Argentine software development firm and BioTrackTHC completed a SOC 2 security audit and became the first seed-to-sale firm to complete a financial statement audit
“The third quarter results are a clear demonstration that we are continuing to execute on our strategic vision. BioTrackTHC is already benefiting from the increased capabilities of our technology development platform and we continued to improve margins as well as sales,” Zachary L. Venegas, Helix’s CEO, commented. “The strategic value of the BioTrackTHC acquisition expanded our global service footprint while helping to drive a healthy consolidated gross margin of 40%. We enjoy a strong pipeline of new business opportunities in both the U.S. and internationally as we keep pace with expansion of the global legal cannabis market.” We are more confident than ever in our competitive and strategic position.”
In February HLIX announced the former President of Mexico, Mr. Vicente Fox Quesada, joined its Board of Directors. Mr. Fox will support the Company as a strategic advisor as it continues its growth into the international cannabis market. Mr. Fox was the 55th President of Mexico and prior to that, he was the CEO of Coca Cola’s Latin American operations. Additionally, Mr. Fox is the Founder of Centro Fox, a nonprofit foundation dedicated to serving communities in Mexico and Latin America, and he is recognized as a respected advocate for the legalization of medical cannabis throughout Latin America. He currently serves on the Board of Directors of a leading U.S.-based cannabis publication advocating legalization, as well as on the Board of Directors of Khiron Life Sciences, a leading, vertically integrated Latin American cannabis producer.
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“We are honored to welcome former President Fox to our Board of Directors and to benefit from his strategic vision and global network,” said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. “His addition is a significant multiplier in our further expansion into key production markets that we expect to become dominant cannabis export hubs that will require our full suite of services.”
On March 4 HLIX announced it has further expanded its international footprint, with licensed cannabis cultivators and manufacturers in the United Kingdom using the industry-leading seed-to-sale tracking solution, BioTrackTHC.
“As international markets develop and more countries create a legal cannabis industry, our technology and service solutions will continue to reach new markets quickly to meet the needs of businesses and regulators in any regulatory environment,” said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. “We are very excited to see the progress of legal cannabis on the global stage and we look forward to continuing to play a vital role in enabling a transparent and secure supply chain.”
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Currently trading at a $144 million market valuation HLIX has $464k in the treasury and fast growing revenues reporting total revenues increased 176% to $3.1 million in 2018. HLIX is an exciting Company making big moves in the cannabis space. The Company provides comprehensive supply chain management, compliance tools, and asset protection for any license type in any regulated cannabis market. Helix TCS’s products reach over 2,000 customer locations in 33 states and 6 countries and has processed over $18 billion in cannabis sales. We will be updating on HLIX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HLIX.
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Disclosure: we hold no position in HLIX either long or short and we have not been compensated for this article.