Rushnet Inc (OTCMKTS: RSHN) has been on the rise again in recent days; the stock is a volume leader with a long history of big moves running from triple zeros to highs of $0.008 earlier this year. Rushnet has attracted a large shareholder base who continues to bid this one higher.
RSHN is at the right place at the right time; the cannabidiol (CBD) market is expected to hit $591 million this year, and it may grow 40 times this size—to $22 billion by 2022 – meaning that hemp-derived CBD could outpace all other cannabis markets, according to a new report by Brightfield Group.
Rushnet Inc (OTCMKTS: RSHN) is an edibles and beverage based company with stand-alone products, including most enhanced with CBD. Currently, we have developed 12 Products that will take advantage of the organic grow, pristine mineral water enhancement and organic CBD. RSHN is led by Frank Deangelo who used to be CEO of Applejam, Inc. which was one of the world’s largest restaurant franchises which he grew to having over $120,000,000 in sales with over 2500 employees before selling it.
The big story on Rushnet is their JV with XYZ Hemp, a vertically integrated soil-to-shelf Industrial Hemp Cultivation and processing project. The project is on schedule to fulfill its existing orders, which exceed $2,000,000. The JV includes the expansion of existing operations to meet the growing demand for these unique products. Those facilities are located, in major part, at 3573 G Road and 3531 G Road in Palisade, Colorado. The Palisade operation is registered in Mesa County by the Colorado Department of Agriculture to cultivate Industrial Hemp. This registration is listed under the “Registrants by County” tab in the “Mesa County” section.
Equipped to produce the highest quality, soil-to-shelf CBD and broad-spectrum cannabinoid products available, these state-of-the-art facilities combine cultivation, drying and curing, CO2 extraction, and post-extraction refinements. The experienced scientific team is led by founders Brian and Judith Olesen of One Straw Organic Orchards, Plum Daisy Kitchen, and Colorado Mountain Jam. With 20 years of experience as growers and producers of award-winning organic food products, they are uniquely equipped to meet the challenge of growing, processing, manufacturing, marketing, and distributing a wide range of high-value, CBD-infused retail foods, beverages, nutritional supplements, and healthcare options.
The same facilities and scientific team will be instrumental in the production, processing, and bottling of KnockoutPunch™, Awater™ and Ewater™, KOpunch™ and KO™. Additionally, the future CBD and non-CBD (ginseng) beverage production will be produced at the same facility or a second facility in the Steamboat Springs area, which is approximately 150 miles away.
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Rushnet owns a partial interest in a 15-acre grow and extraction operation with Western Sierra Resource Corporation (WSRA) who recently announced its 12-month revenue forecast of $15.6 million. The Company’s robust October harvest of more than 15 acres of high-quality hemp should yield $12,600,000; this forecast is based on published wholesale pricing at 2 cents per milligram of “CO2 extracted” full spectrum CBD. The additional “terpene” harvest that CO2 extraction allows will add an additional $750,000 in value-added revenue. Extraction services revenue @ $90.00 per pound will yield in cash or oil-exchange an additional $2,250,000. An extraordinary line of full spectrum CBD infused jams, tinctures, capsules, balms, salves, lotions, and beverages has been developed, and new products are being consistently introduced and readied for manufacture. This $15.6 million forecast does not include the retail revenues anticipated from increasing demand for existing products; or potential sales revenue from newly formulated full spectrum products soon to be unveiled.
Earlier this month Rushnet announced a joint venture with Dr. Stuart Miller for a new and exciting product and process – A revolutionary delivery system for CBD that will provide rapid absorption, better bio-availability and greater tolerance – the Nano CBD Delivery System.
On October 25 Rushnet announced a 25% reduction in the number of authorized common shares, from 12,000,000,000 to 9,000,000,000 and, more significantly, the elimination of the conversion rights of preferred stock. Richard Goulding currently owns nearly all 50,000,000 shares of the preferred stock. While they have 300 votes per share, they are no longer convertible. Accordingly, this eliminates the 15,000,000,000 share conversion right.
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Currently trading at a $23 million market valuation Rushnet is an exciting Company making big moves in the booming CBD space. The Company has several exciting projects including the JV with XYZ Hemp, a project scheduled to fulfill its existing orders, which exceed $2,000,000 as well as a partial interest in a 15-acre grow and extraction operation with Western Sierra Resource Corporation (WSRA) who recently announced its 12-month revenue forecast of $15.6 million. We will be updating on RSHN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with RSHN.
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Disclosure: we hold no position in RSHN either long or short and we have not been compensated for this article.