Any fast-growing business needs an operational framework to help it develop and better serve its customers, and the marijuana industry is no different. As the legal cannabis market continues its impressive expansion, a growing number of companies are emerging to form a legal support framework of related technology and ancillary services that are driving the industry toward an efficient and profitable structure. Companies such as SinglePoint, Inc. (SING) (SING Profile), MassRoots, Inc. (MSRT), mCig. Inc. (MCIG), Rocky Mountain High Brands, Inc. (RMHB) and Innovative Industrial Properties, Inc. (IIPR) are branching out into different segments of the industry, determined to make the most of one of America’s fastest growing markets.
SinglePoint (SING) is an ancillary service provider that does not directly touch the cannabis plant. Based in Nevada, SinglePoint has been involved with the legal marijuana market for a while, and, as the market showed signs of exponential growth, the company has taken a more active role. As a direct result of last year’s election, which made marijuana legal in a greater number of states, SinglePoint reactivated its SingleSeed Payments subsidiary, with the goal of providing legal cannabis business operators with much-needed non-cash payment processing and mobile marketing tools.
SinglePoint (SING) is also interested in expanding its reach in the market, as confirmed by its recent Letter of Intent to acquire a stake in Convectium. The acquisition will give SING access to a unique, proprietary machine that has the potential to drive the industrialization of cannabis production nationwide. With an impressive capacity to fill more than 100 disposable cartridges or vape pens in as little as 30 seconds, the system can have a significant impact on the industry as a whole by making the cannabis production process easier, more efficient, and, ultimately, more profitable.
Operating one of the largest technology platforms for the legal cannabis industry, MassRoots (MSRT) has created a complex mobile network that allows medical cannabis users to make informed purchasing decisions based on product reviews, as well as connect with other users and the marijuana legalization movement. The network is available via free iOS and Android mobile apps, as well as the MassRoots website. With affiliations with leading market players such as the National Cannabis Industry Association and ArcView Group, MassRoots also operates a free portal that allows specialized dispensaries to access market analytics, gain insight into customer preferences, and more. The company is based in Denver, Colorado – one of the few states that allows both medical and recreational marijuana use.
While MassRoots is focused on the software side of the business, Nevada-based mCig (MCIG) is more involved with the actual cultivation process, via its Grow Contractors division. Originally a manufacturer and distributor of vaporizers, electronic cigarettes, and accessories, mCig has become a full-service cannabis cultivation construction company that provides state-of-the-art modular and commercial buildings to cannabis growers, allowing them to significantly expand operations and production. The company is also looking to expand its services and competencies to further support the ancillary legal hemp, cannabis and cannabidiol markets.
One of the most active players in the hemp market, Dallas, Texas-based Rocky Mountain High Brands (RMHB) is a great example of a company that’s actively involved in the manufacturing and distribution of its products. As a fully-reporting consumer goods company, Rocky Mountain High Brands specializes in the development, manufacture, distribution and commercialization of hemp- and cannabidiol-infused food and beverages. Its product line includes hemp-infused edibles such as energy and protein bars, but mostly naturally flavored hemp-based beverages such as black tea, lemonade and energy drinks.
Innovative Industrial Properties (IIPR)’s approach to the cannabis industry is to acquire specialized industrial real estate assets used for growing medical-use cannabis. IIPR’s leases are long-term, triple-net arrangements in which tenants pay taxes, maintenance, insurance and structural repairs, in addition to base rent. In December 2016, IIPR closed on its first sale-leaseback transaction by acquiring from PharmaCann LLC a 127,000-square-foot medical-use cannabis cultivation and processing facility in New York. PharmaCann is now leasing the property from IIPR and, in a press release, said the arrangement frees up capital needed for expansion.
Despite legal concerns owing to the fact that marijuana is still considered an illegal substance by the U.S. federal government, even though it is allowed in 28 states, a strong technical interface is being built around the cannabis business. Ranging from software solutions and service providers that do not actually touch the cannabis plant, to actual machinery and manufacturing platforms such as Convectium’s innovative oil filling machine for disposable vape pens and cartridges, this interface is expanding as fast as the actual market it serves and pushing cannabis production – and cannabis businesses – to new heights.
For more information on Singlepoint, Inc. (SING) please visit: Singlepoint, Inc. (SING)
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