OSL Holdings Inc (OTCMKTS:OSLH) has fallen some after failing to take out $0.05 resistance levels. OSLH is a stock with a history of big moves running from $0.003 to incredible highs of $0.29 in the 1st few months of 2014. As we head into the time of year that pot stocks heat up investors are giving OSLH another look here.
OSL Holdings Inc (OTCMKTS:OSLH) is a technology Company that operates two divisions: Cannabis OSL and Equality Rewards. Cannabis OSL is a development platform centered on the development and financing of legal medical and recreational marijuana production facilities, marijuana related technologies and merchandise and operational services for legal medical and recreational marijuana dispensaries nd distributors.
OSLH Equality Rewards is a real-time loyalty rewards platform that the Company is developing . It can facilitate the earning and redemption of rewards currency at the point of the transaction (online, mobile, at retail) as well as on future transactions.
On October 22 OSLH announced the acquisition of Go Green Hydroponics, Inc. (“Go Green Hydroponics”) a privately held hydroponics, indoor gardening and cultivation supply retail operation, located in Los Angeles, California, specializing in the sale of hydroponic cultivation equipment, mineral nutrient solutions and gardening resources and equipment. Go Green Hydroponics achieved revenues of approximately $2.4 million in the first nine months of 2014 and is expected to reach revenues of approximately $3.0 million in fiscal 2014 with expected future annual revenue increases at a rate of 10% to 15% with expected gross profit margins of approximately 25% to 30%.
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OSL acquired Go Green Hydroponics for $1.8 million subject to certain post-closing adjustments based on a target working capital amount. OSL also closed on a debt financing transaction in the amount of $1.9 million, the proceeds of which were used to fund the Go Green Hydroponics acquisition and for OSL working capital.
OSLH CEO Bob Rothenberg said ”We are very excited about the acquisition of Go Green Hydroponics. Go Green is one of the most highly regarded brands in the vertical, continues to be a profitable business enjoying tremendous growth in the Los Angeles market.” Steve Gormley, OSL’s Chief Business Development Officer said, “This acquisition advances OSL’s mission and commitment to our Medical Services Division. OSL continues to support civil liberties through the power of commerce.”
OSL Medical Services is a management, future planning and services platform centered on the development and financing of indoor gardens and cultivation facilities, production technologies, merchandise and operational services for businesses in the herbal and natural medicine industry. OSL Medical Services is designed to support its clients with branding, technology, marketing, logistics, and future planning services on a state-by-state basis throughout the United States.
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Currently trading at a $11 million market valuation OSLH is technically sounds and looks like it wants to run. The stock boats a loyal shareholder base that swears this one goes higher. A break over $0.05 would represent a significant milestone for the stock and a big win for shareholders.
OSLH has fallen some after failing to take out $0.05 resistance levels but the stock is on top of many radars; everyone remembers the epic move that OSLH made the last time the sector got hot and as we head into the season investors many are hoping it can do it again.
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Disclosure: we hold no position in OSLH either long or short and we have not been compensated for this article.