General Cannabis Corp (OTCMKTS: CANN) has been on the move in recent weeks transforming into a volume leader and one of the most traded stocks on the OTCBB as pot stocks heat up across the board. CANN has a long history of huge moves running from well under $2 to $11.19 a share at the end of last year.
CANN operates in the red hot cannabis market responsible for many of the hottest stocks and biggest winners on the OTCBB. This is a booming sector as legal marijuana sales are expected to grow to more than $20 billion by 2022 according to Marijuana Business Daily. October 17 is looming and giving the whole industry a huge boost!
General Cannabis Corp (OTCMKTS: CANN) is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. We are a trusted partner to the cultivation, production and retail sides of the cannabis business. We do this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, our divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed.
CANN provides advanced security, including on-site professionals and cash transport, to licensed cannabis cultivators, cannabis processing facilities and retail shops, under the business name Iron Protection Group (“IPG”) in California and Colorado, and security services to non-cannabis customers in Colorado, such as hotels, apartment buildings and retail, under the business name Mile High Protection Services (“MHPS”). CANN strategically acquired MHPS in order to expand their Colorado security business into the non-cannabis space, as we believe that market provides an opportunity for growth.
CANN wholly owned subsidiary, Chiefton Supply, strives to create innovative, unique t-shirts, hats, hoodies and accessories. Our apparel is sold through our on-line shop, festivals and events, cannabis retailers, and specialty t-shirt and gift shops. We are pursuing relationships with national apparel retailers and distributors, as well as expanding our offerings nationwide within the cannabis industry.
Chiefton Design provides design, branding and marketing strategy consulting services to the cannabis industry. We assist clients in developing a comprehensive marketing strategy, as well as designing and sourcing client-specific apparel and products. Chiefton Design also supports our other segments with marketing designs and apparel.
Through Next Big Crop (“NBC”), CANN delivers comprehensive consulting services to the cannabis industry that include obtaining licenses, compliance, cultivation, retail operations, logistical support, facility design and construction, and expansion of existing operations.
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NBC oversees CANN wholesale equipment and supply business, operated under the name “GC Supply,” which provides turnkey sourcing and stocking services to cultivation, retail and infused products manufacturing facilities. Our products include infrastructure, equipment, consumables and compliance packaging.
The big story on CANN is the significant revenue growth the Company has been reporting including topping $1 million in sales the last quarter. On August 8 CANN announced financial results for the quarter ended June 30, 2018. Revenues were $1,114,430 for the quarter as compared to $833,605 for the same period last year.
Robert Frichtel, Chief Executive Officer of General Cannabis said “We broke the $1 million revenue ceiling in the second quarter of 2018, with revenues of $1,114,541, an increase of 34% over 2017. Year to date revenues increased 32% in 2018 over 2017. Our Operations segment continues to find opportunities from the expansion of legalized cannabis in numerous states, our Security segment is gaining traction in California, and Chiefton’s apparel business is achieving broader, national success,” continued Mr. Frichtel.
“With a suite of goods and services for customers across the cannabis industry, we are realizing the benefit of providing a synergistic set of solutions to help cannabis businesses realize their growth potential,” said Joe Hodas, Chief Operating Officer of General Cannabis. “Our revenue growth reflects the effectiveness of our focus on driving sales and the quality of our deliverables. In addition, I am proud to share that we became founding members of the Cannabis Trade Federation in the second quarter, which is a tangible demonstration of our belief in the importance of supporting the industry by driving legislation favorable to its continued expansion,” continued Mr. Hodas.
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Currently trading at a $103 million market valuation CANN has $10 million in the treasury, little debt and significant, fast growing revenues reporting $1.14 million in sales last quarter. CANN is an exciting story developing in small caps; the Company is focused on becoming the comprehensive national resource to the regulated cannabis industry with a number of operating division seeing significant growth. The stock is highly liquid with a long history of explosive moves. We will be updating on CANN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CANN.
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isclosure: we hold no position in CANN either long or short and we have not been compensated for this article.