Tag: SRNA

CannabisNewsBreaks – Surna Inc. (SRNA) Reports Revenue of $5.5 Million in Q3 2019, Second Straight Quarter of Record Revenue and Profits

Surna (OTCQB: SRNA) today released its operating and financial results for the three and nine months ended September 30, 2019. The company announced record-setting results in Q3 2019, including revenue of $5.5 million, an increase of 66% compared to the same quarter last year and growth of 31% compared to Q2 2019, Surna’s previous record high. “We are extremely pleased with our second straight quarter of record revenue and profits,” Surna CEO Tony McDonald said in the news release. “We continue to focus on our two key financial metrics: revenue growth and profitability. We also improved our cash position significantly—with a quarter-end cash balance of $2.0 million—and strong operating cash flows year-to-date. We believe the numbers speak for themselves.”

To view the full press release, visit http://cnw.fm/KE24r

About Surna Inc.

Surna Inc. is a Boulder, Colorado-based company that designs, engineers and manufactures environmental control and air sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities in the U.S. and Canada. Its engineering and technical team provides energy and water efficient solutions that allow growers to meet the unique demands of a cannabis cultivation environment through precise temperature, humidity, and process controls and to satisfy the evolving code and regulatory requirements being imposed at the state, provincial and local levels. Surna has been involved in consulting, equipment sales and/or full-scale design for over 800 grow facilities since 2006, making it a trusted resource for indoor environmental design and control management for the cannabis industry. For more information, visit the company’s website at www.Surna.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Cannabis Industry Keeps Making Steps Forward

CannabisNewsWire Editorial Coverage: As legalization spreads, the cannabis industry is achieving a new level of maturity, with a wide range of products and support services. Global Payout, Inc. (OTC: GOHE) (GOHE Profile) is providing payment and consulting services for cannabis companies facing the unique challenges of their sector. Terra Tech Corp. (OTC: TRTC) has developed sustainable farming methods that lead to better yields and lower costs. Surna, Inc. (OTCQB: SRNA) specializes in providing components for growing facilities and advice on how to set them up. Meanwhile, Medical Marijuana, Inc. (OTC: MJNA) and GB Sciences, Inc. (OTCQB: GBLX) are both deploying new techniques to create innovative products for an ever more diverse market.

A Maturing Industry

The legal cannabis industry continues to be one of the fastest growing areas of North America’s economy. The legalization of medical cannabis in Canada and many American states has fostered a thriving medical cannabis industry over the past decade, consisting of everything from pharmaceutical companies to retail specialists. With recreational use now legal in several states and coming to Canada this summer, the industry is set to blossom further. Some estimates state that the Canadian cannabis sector alone could be worth over $20 billion within a few years.

With time and growth, the industry is maturing into something complex and varied. Companies are researching and marketing new goods, from vaporizing oils to soft drinks to community magazines. Other companies are specializing in providing support services to the industry. Whether it’s in finance, marketing, logistics or any of the other services a business needs, cannabis companies face their own unique challenges. A more mature sector is finding ways to adapt these to its specialist needs.

Cash and Cannabis

Global Payout, Inc. (OTC: GOHE) is helping to provide cannabis companies with support in one of the most challenging areas — payment.

Access to financial services has always been difficult for cannabis companies. Though the use and sale of the drug is legal in many states, federal legislation remains the same as when cannabis was targeted as part of the war on drugs. This created a fear of prosecution for banks if they provided financial services to cannabis companies.

From the start, cannabis merchants have found themselves working in a cash economy. This has created inefficiencies and greater than normal risks of fraud, theft and accounting errors. From 2013 to 2017, the Department of Justice’s Operation Chokepoint made this even more difficult, as the government investigated banks that dealt with high-risk sectors for fraud or money laundering.

As a result, cannabis companies have been left in need of alternative payment methods. Global Payout and its partner, MoneyTrac technology, are moving to provide that service.

Global Payout is a provider of financial services solutions with experience in more mainstream industries. Its Global Reserve Platform (GRP) provides an all-in-one system for companies to make payments and money transfers in an international market. The system connects all aspects of a business’s financial operations, from FOREX to prepaid debit cards. Customizable to the needs of different businesses, it provides a complete and flexible end-to-end finance system.

Given the unique circumstances of the cannabis industry, simply adopting this banking-in-a-box system wasn’t going to provide the solution. Therefore, it’s a new product, created by a Global Payout partner, that is allowing the company to apply its expertise to the sector.

New Technology for a New Problem

Global Payout’s solution for the cannabis sector comes from its former subsidiary, MoneyTrac Technology. A technology and business development company whose motto is “Key to Cashless™,” MoneyTrac is focused on providing alternative options for banking and electronic finance.

In its quest to offer payment solutions to the cannabis industry, MoneyTrac has turned to blockchain technology. Blockchain is a distributed ledger system — a form of data keeping where responsibility for the record is shared across a network rather than kept in one place. It’s the technology behind cryptocurrencies such as bitcoin. Through cryptocurrencies, blockchain has become the leading way of transferring value outside of the mainstream banking sector.

Blockchain payments offer cannabis companies several advantages. Such systems can be accessed by any customer, regardless of whether they themselves have a bank account. The money transfers happen away from the banks, which are wary about involvement in cannabis.  Payments are nearly instantaneous, and because records are kept over a distributed network, there are no controllers creating bottlenecks or the risk of a single point of failure.

Launched in early April, MoneyTrac’s MTRAC payment system is powered by GreenBox blockchain technology (http://cnw.fm/GVSh6) and provides a payment system through which cannabis companies can take electronic payments, distancing themselves from the risks and inefficiencies of working with cash. Any customer can use a MoneyTrac kiosk to load up a card or digital wallet, which they can then use to pay for goods and services. Though currently focused on the cannabis market, this option may benefit other companies in high-risk sectors or that want to benefit from the potential of blockchain.

Support Services for a Growing Industry

In addition to financial solutions, MoneyTrac provides a range of support services for cannabis businesses.

Many cannabis retailers are new businesses looking to expand their scope and expertise. The MoneyTrac team have years of knowledge and experience in business development, allowing them to provide advice and support. They can guide clients through the challenges that come with starting and running profitable businesses.

Effective sales and marketing is a challenge for any business, but it can be even more difficult when that business is in a heavily regulated sector such as cannabis. MoneyTrac provides expertise in this area.

Regulatory compliance is a specialist area of knowledge in its own right. Working within the cannabis industry, MoneyTrac professionals have deep knowledge of this area, developed through strategic partnerships across the financial sector. The MoneyTrac team is therefore able to help clients ensure that they meet the legal requirements of their businesses.

Though such support services are already available for most businesses, they all come with their own unique twists where cannabis is concerned. It’s a sign of the growing maturity of the sector — and of its need for specialist expertise — that it can support a company supplying these services. And as the sector grows, so will the businesses providing these vital services.

A Variety of Products and Services

The need for specialist cannabis products has led to the emergence of a number of companies providing ancillary goods and services, as well as specialist products from within cannabis companies.

Terra Tech Corp. (OTC: TRTC) has been developing superior, sustainable farming methods for cannabis. Its moving table hydroponic system increases harvest yields by up to 30% and reduces operational costs by up to 50%. By developing and supplying advanced horticultural equipment, the company is bringing forward the techniques and technology of cannabis cultivation. Thanks to its energy efficient systems and waste water recycling, Terra Tech is ensuring that cannabis growing meets the green credentials many customers look for. Together, these achievements led to record revenues for the company in 2017 (http://cnw.fm/OtFT9).

Surna, Inc. (OTCQB: SRNA) also works to provide better cannabis cultivation. The company manufactures components for cultivation facilities, including climate control, lighting and biosecurity. It also provides the support services needed to make the most of these products. Surna specialists have engineering and installation skills to help clients get their facilities smoothly up and running. Company consultants review floor plans and facility designs, as well as offer guidance on industry standards and best practices. It’s the sort of vital, practical advice that may help get growers off the ground.

The first publicly traded cannabis company in the United States, Medical Marijuana, Inc. (OTC: MJNA) is a leader in medical cannabis sales across the Americas. Selling to countries including the United States, Mexico and Brazil, it is showing the potential for international growth. The company’s expertise lies in research as well as sales, with the development of proprietary techniques (http://cnw.fm/4ueX9) to extra cannabinoid molecules. These techniques are being used to develop a range of products, including hemp-based protein shakes and pet products. Such techniques and products are helping the cannabis industry reach new markets and customers, increasing profits along the way.

GB Sciences, Inc. (OTCQB: GBLX) is also focused on the medical potential of cannabis, while making the most of the opportunities in newly legal recreational markets. The company has developed some of the best cannabis strains in Nevada, identified as such because of their active ingredients. GB Sciences has also obtained an exclusive worldwide license to use a time-released cannabinoid formulation from the University of Seville, bringing a previously unused approach into the American market.

With companies developing new strains and techniques for using cannabis, the cannabis industry has an increasingly diverse range of products. This is supported by a growing range of support services, with companies providing everything from payment solutions to engineering advice, all geared toward cannabis. It’s a reflection of how fast the industry has matured that all this is happening even as the battle for legalization continues around the world.

For more information on Global Payout, Inc., please visit: Global Payout, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
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Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW is a news dissemination and financial marketing solutions provider and is NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CNW undertakes no obligation to update such statements.

Fired-Up Cannabis Players Ride into 2018 on Year-End High

CannabisNewsWire Editorial Coverage: Cannabis and blockchain were all the buzz in 2017 and investor trading in these stocks was heavy going into the close of the year. This helped significantly push up TD Ameritrade’s quarterly profit and boost daily average trades to 726,000 for the quarter ending December 30, 2017 — an increase of 49 percent from the previous year (http://cnw.fm/i5DkN). With this market frenzy spilling over into 2018, companies like Global Payout, Inc. (OTC: GOHE) (GOHE Profile) are in position to profit with fingers strategically in both pies, applying their expertise in both the cannabis and blockchain markets. Such companies poised to enjoy broader growth in the industries include Terra Tech Corp. (OTCQX: TRTC), mCig, Inc. (OTCQB: MCIG), Surna, Inc. (OTCQB: SRNA) and MPX Bioceutical Corp. (CSE: MPX) (OTC: MPXEF).

Rising Star

It is no secret that the cannabis market is on fire, fueled in part by Canada’s anticipated legalization of recreational marijuana, increasing public acceptance and industry innovations that keep investors interested in new developments.

Another event that helped shine a spotlight on marijuana stocks was the debut of ETFMG Alternative Harvest ETF, a first-of-its-kind, U.S.-listed exchange-traded fund that tracks the cannabis industry. While the trading period is usually slow between Christmas and New Year’s, this launch generated big buzz in the marijuana sector during that typically sluggish period.

The North American Marijuana Index has seen growth during the recent quarter, as well, with the addition of seven new cannabis companies to the Canadian Marijuana Index. This brings the total number of constituents on the index to 39.

Market Multitasking

Simultaneous endeavors in two red-hot market sectors—marijuana and blockchain, in this case—has proven a good strategy for Global Payout, Inc. (GOHE). This leading worldwide pre-payment solutions provider is successfully applying its core fintech capabilities in serving the cannabis industry, as well as offering cutting-edge blockchain technology solutions for a variety of other market sectors.

Decentralized Cannabis Payment System

Global Payout’s majority-owned MoneyTrac Technology, Inc. (“MTRAC”) subsidiary offers a wide array of services to help businesses in high-risk industries (notably cannabis enterprises) efficiently and effectively manage their operations. MTRAC’s technology equips business owners with the tools they need to meet compliance regulations, improve electronic payment processing and, in general, create an operational structure that will boost growth.

Global Payout kicked-off 2018 with the announcement (http://cnw.fm/cQ2yC) that its MTRAC subsidiary is moving forward with the co-launch of its regulation-compliant token offering, the M-Token, which is on track to be launched during the first quarter of this year. This has been made possible through various key strategic partnerships. The token is aimed at providing cannabis businesses with an effective decentralized payment system.

“MoneyTrac’s primary objective has been, and will continue to be, to serve the legitimate and profitable businesses of the cannabis industry by effectively addressing the financial technology and banking challenges they are faced with. Right now, one of the biggest and most daunting challenges they face is having to run their businesses strictly on cash,” MTRAC CEO Vanessa Luna stated in the press release. “This is not only dangerous from a theft perspective, but not practical in terms of basic financial management solutions. Our regulatory-compliant Token Offering will revolutionize how these businesses operate and help MTRAC further its objectives for identifying various partnerships and cultivating the relationships necessary to pave the way for alternative banking solutions.”

Throughout the U.S. cannabis industry, a large number of merchants continue to deal exclusively in cash transactions as marijuana’s continued status as a federally illegal drug has made cannabis vendors essentially “unbankable.” Dealing in cash is not only inconvenient for marijuana merchants and users alike, but it leaves cannabis businesses extremely vulnerable to theft, making a decentralized payment system not only attractive but very necessary.

The need for alternative cannabis payment solutions has been further sharpened by recent news that Attorney General Jeff Sessions has rescinded memos from the Obama Administration that formerly protected cannabis cultivators, users and vendors from federal prosecution in states where cannabis has been legalized.

In developing the M-Token, MTRAC has worked with various partners in the fintech and compliance sectors, including Pegasus Fintech Inc., and continues to devote substantial time and resources toward the requisite due diligence process to make sure the M-Token meets all regulatory compliance requirements before it is officially launched.

It is anticipated that the M-Token will effectively fill the huge banking void for businesses in the multibillion-dollar cannabis industry.

‘Banking the Unbankable’

In related efforts, MTRAC recently announced (http://cnw.fm/Wwa8P) its “Joint Venture Compliance, Crypto-Commodity, iCloud and Strategic Partnership Agreement” with Crypto Value Management System, LLC (CVMS), which has secured an exclusive California license for a cryptocurrency exchange platform. This platform is expected to enhance both MTRAC’s and CVMS’s efforts to offer fintech solutions to businesses in the cannabis industry and other alternative market sectors.

The secure, compliant blockchain technology developed by CVMS is the most cutting-edge crypto-commodity exchange platform available. In addition to aiding businesses that lack banking options, this technology is intended to serve as the backbone for MTRAC’s token exchange platform for the M-Token.

“Securing this JV Partnership Agreement with CVMS marks a huge milestone for MoneyTrac and our continued pursuit of banking the ‘un-bankable’ within the cannabis industry,” Luna stated. “The exclusive licenses CVMS has worked diligently to acquire in the State of California are critical pieces to the foundation we are developing for a token exchange platform that will become one of the most valuable resources to businesses in an industry where millions of dollars are exchanged in commerce every day.”

PotSaver Publication

Global Payout’s MTRAC subsidiary is also collaborating with the company’s PotSaver brand to launch PotSaver Biz, a publication developed exclusively for cannabis businesses. PotSaver Biz is aimed at becoming a premier networking platform for companies operating within the cannabis space, including businesses that offer ancillary services to the cannabis market.

The publication will give cannabis-related business owners an effective platform through which to market their products and services to one another.

Throughout PotSaver Biz, thousands of cannabis-related businesses and brands will be able to enhance their market presence through a paid listing in the publication. The publication will also serve as an additional revenue stream for MTRAC.

Cannabis Peers

Other standout players on the move to capitalize in the cannabis market with diverse offerings include companies like Terra Tech (TRTC).

Terra Tech is a vertically integrated, cannabis-focused agriculture company that operates through multiple subsidiary businesses, including Blüm, IVXX Inc., Edible Garden and MediFarm LLC. These subsidiaries offer an array of products and services, ranging from high-quality medical marijuana and adult-use cannabis products to medical cannabis permit application and procurement services.

Terra Tech recently received State of California Temporary Authorization to begin adult-use cannabis sales in that state.

Innovative biotech company mCig (MCIG) is fully diversified across multiple areas of the cannabis industry, ranging from construction and cultivation to production packaging, media and investments. The company is focused particularly on hemp, cannabinoid R&D, nutraceuticals and pharmaceuticals and is also a leading distributor of innovative products, customized packaging solutions, technologies and services for the worldwide medical marijuana industry. Among its endeavors, mCig recently announced plans to launch an advanced hemp CBD-based formula for domestic pets.

Boulder, Colorado-based Surna (SRNA) provides ancillary services to cannabis businesses, manufacturing a proprietary line of premium lighting, environmental control and air sanitation systems designed to serve both state-regulated cannabis cultivation facilities and traditional indoor agricultural facilities. The company’s aim is to provide smart solutions that can enhance the quality, control and overall yield and efficiency of controlled-environment agriculture.

MPX Bioceutical (MPXEF) is an Ontario corporation that offers services in the United States and Canada. Through its U.S.-based wholly owned subsidiaries, MPX provides significant management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to two medical marijuana enterprises in Arizona. The company also recently acquired the award-winning GreenMart of Nevada NLV, LLC, which is a licensed cultivation, production and wholesale business serving both the medical and recreational cannabis markets in Nevada. MPX further owns cannabis assets in Massachusetts and Maryland and also leases a property in Ontario, Canada, for which it has submitted an application to Health Canada for a cannabis production and sales license.

For more information about Global Payout, visit Global Payment, Inc. (GOHE).

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text “Cannabis” to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. The commentary, views and opinions expressed in this release by CNW are solely those of CNW. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW for any investment decisions by their readers or subscribers. CNW and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.

CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.  The forward-looking statements in this release are made as of the date hereof and CNW and FNM undertake no obligation to update such statements.