Pyramidion Technology Group (OTCMKTS: PYTG) has been running up the charts in recent days from a start point of around $0.25 to recent highs of $1.75 per share. The stock has transformed from illiquid to one of the top most traded stocks on the OTCBB.
PYTG operates in the booming cannabis space responsible for many of the biggest recent winners in small caps. The legal cannabis market is estimated to grow at a steady pace of about 42% CAGR by the year 2021. Additionally, according to research made by ArcView Market Research in partnership with BDS analytics, the entire legal industry for marijuana is projected to reach $57 Billion by 2027, just less than a decade from now.
Pyramidion Technology Group (OTCMKTS: PYTG) bills itself as a business incubator. The purpose of their business model is to leverage equity, to acquire, merge and or joint venture with early stage companies in emerging sectors, to facilitate growth and cash flow utilizing a diverse distribution method. PYTG intention is to develop and acquire fast growing companies in up-trending industries and positioning technology for economic growth. This platform will combine natural relationships, marketing synergies and distribution methods that enable combined companies to provide a wide variety of unique and complete solutions, services and necessities to consumers.
2 weeks ago PYTG announced the execution of a binding letter of intent to acquire NxGen Brands, LLC of Denver, Colorado, one of the area’s most well-known and successful CBD Marketing Groups . Pursuant to the letter of Intent, PYTG will be acquiring NxGen operations, brands, and marketplace. NxGen Brands, LLC; proudly boasts the best strains, products, and services available throughout the state of Colorado, from plant to edibles, vapes and more.
Cannabis is considered to be the largest cash crop in the United States, enjoying a growth rate of 77% over the last few years and continued future estimated growth rate to 700% by 2020 The Cannabis industry, present and future, has been said to be potentially more lucrative than corn, cotton, and wheat. In fact, according to UN data, the cannabis industry is around an estimated $142 billion. To put that in perspective, the global coffee market – one of the most valuable commodities on the planet – is valued at around $80 billion per year.
The letter of intent from PYTG to acquire NxGen operations is a Binding Contract and the proposed acquisition is subject only to finalize the execution of a definitive purchase agreement. In addition, the proposed acquisition would be subject to regulatory approvals and is expected to close on or before September 30th, 2018.
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PYTG has also formed a New Advisory Medical Board to lead the new direction of the company in the Medical Alternative Medicine and Natural Nutraceutical Products. The new Medical Board will bring an immense, collective and unique set of experiences in the Medical CBD affairs, unmatched leadership and guidance to help drive Pyramidion towards its strategic mission.
Als several days ago the Company said Dr. David M. Feldbaum MD, Fellow, American College of Surgeons (FACS), has been appointed to the Board of Advisors for PYTG. David M. Feldbaum MD, FACS is certified in vascular surgery by the American Board of Surgery. Dr. Feldbaum completed a surgical residency at Montefiore Medical Center/Albert Einstein College of Medicine in New York City, and a vascular surgery fellowship at the Carolinas Heart Institute in North Carolina.
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Currently trading at a $16 million market valuation PYTG has no assets, little debt and no revenues to date. But PYTG has been running up the charts and has quickly attracted a shareholder base who is bidding this one higher. The Company operates in the booming cannabis space and recently announced its intent to acquire NxGen Brands, one of Denver’s most well-known and successful CBD Marketing Groups. We will be updating on PYTG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PYTG.
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Disclosure: we hold no position in PYTG either long or short and we have not been compensated for this article.