Namaste Technologies Inc (OTCMKTS: NXTTF) has been on an explosive rise in recent weeks as pot stocks heat up across the board. The stock has doubled off its recent lows but still has a long way to go back to the highs of September.
Namaste Technologies Inc. (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is one of the largest online retailers for medical cannabis delivery systems globally. Namaste retails vaporizers and smoking accessories through e-commerce sites in over 20 countries with distribution hubs located around the world. Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada.
The Company has leveraged its technology platforms including its online patient portal, NamasteMD and the first AI-driven cannabis journaling app, My Uppy Cannabis Journal, paired with its cutting-edge AI technology through its wholly-owned subsidiary Findify AB and intends to redefine the way in which medical patients access cannabis through online channels and in providing a personalized user experience for each patient.
Namaste has majority market share in Europe and Australia, and operations in the United Kingdom, Canada and Germany and has opened new supply channels into emerging markets, which include Brazil, Mexico and Chile. NamasteMD’s recent growth is attributed to an increase in organic traffic and patient referrals, and represents a 48% increase from the previous month. NamasteMD connects patients with licensed producers including the Company’s wholly-owned subsidiary, Cannmart Inc. to purchase medical cannabis products. The Company anticipates further growth of the NamasteMD platform and has expanded its network of healthcare consultants to meet demand. The Company also intends on submitting the app to the Apple and Google Play stores in the UK, where it will leverage its existing database of over 500,000 users to develop a similar model to its Canadian market. Namaste is continuously looking to expand its platform in other regions where telemedicine and cannabis become legalized. With over 1.5 million customers globally and Namaste operating in over 20 countries, the Company will have a competitive advantage in emerging markets.
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Namaste is already doing big sales! the Company reported net revenue for the three months ended August 31, 2018 was $3.9 million, which is comparable to $3.9 million within the same period in 2017. On a year over year basis, Namaste’s net revenue for the twelve months ended August 31, 2018 was $18.6 million (an increase of $7.6 million or 69%) compared to the twelve months ended August 31, 2017. The increase in net revenue during the twelve months ended August 31, 2018 was primarily due to organic growth within the key markets such as United Kingdom, Canada, Brazil, Germany and full twelve months of revenue from Australian Vaporizers which was acquired in March 2017.
On January 11 Namaste announced it has entered into a consulting agreement with Incite Capital Markets to provide investor relations and communication services, subject to TSX Venture Exchange approval. The Company has selected the Incite Capital Markets to share Namaste’s compelling story to brokers, analysts and portfolio managers globally. The Company wishes to announce that the Board of Directors previously approved a new employment agreement between Namaste and its CEO, Sean Dollinger effective as of January 1, 2019. The agreement reflects an update of Mr. Dollinger’s previous agreement with a subsidiary of Namaste and related permanent move to British Columbia. Details of Mr. Dollinger’s employment agreement include but are not limited to a base compensation of US$300,000 per year and the issuance of stock options to acquire a total of 500,000 common share stock options of the Company. Additional bonus provisions, for up 1.5x the annual salary amount, are included in the agreement based on successful milestones in strategic planning, growth, profitability and cash flow from operations. The options are exercisable at a price based on the closing price of Namaste’s shares on the date prior to the commencement date of the employment agreement. The options will vest in quarterly installments over the two-year term of the agreement. The options have a term of 5 years and are subject in all respects to the terms of Namaste’s stock.
Sean also posted a video on youtube explaining that he will no longer be posting videos there and only communicating with shareholders though more traditional avenues like press releases.
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Currently trading at a $334 million market valuation Namaste is fully funded going forward with $34.4 million $CAD war chest in the treasury, virtually no debt and fast growing sales reporting $18.5 million in revenues in 2018. Namaste is one exciting Company very well positioned to cash in on the coming Canadian Cannabis craze; the Company is one of the largest online retailer for medical cannabis delivery systems globally operating e-commerce sites in over 20 countries with distribution hubs located around the world. With the launch of Cannmart, Namste anticipates increasing revenue through Cannabis sales and in developing further supply agreements with domestic licensed producers to expand its product offering. Namaste is led by entrepreneur Sean Dollinger and he has a vision for Namaste to become the Amazon of medical marijuana.We will be updating on Namaste when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Namaste.
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Disclosure: we hold no position in Namaste either long or short and we have not been compensated for this article.