DigiPath Draws Press Coverage as Nevada Lab Prepares to Open
Ryan Allway
April 27th, 2015
News, Top Story
Nevada legalized medical marijuana 15 years ago, but dispensaries are just now becoming a reality in the state. Given its large tourism industry and reciprocity laws, some analysts have projected that the state’s cannabis industry could exceed $100 million in size over the coming years. The only thing holding the industry back are three bills that are currently pending in the state legislature which will finalize what the cannabis labs will be required to test for.
From an investor perspective, there are many different ways to capitalize on the state’s burgeoning new market. Blue Line Protection Group (OTC: BLPG) recently announced that they are fully licensed to provide their full suite of services in Nevada, while Taylor Consulting Inc. (OTC: TAYO) has begun scouting Nevada real estate locations to expand their business model.
The nearest term opportunities, however, may be in the cannabis testing space, where DigiPath Inc. (OTC: DIGP) plans to be one of the state’s first laboratories to open. Per the law, a private, state-licensed laboratory must test each batch of cannabis before it can be sold to the public or to third party producers of refined cannabis products such as edibles or concentrated hash oils.
With testing protocols finally close to being established, and the opening of their lab seemingly imminent; DigiPath has begun to receive significant press attention. In a recent News 3 LV piece discussing the state’s newly minted cannabis industry Darlene Purdy, who operates a dispensary in Nevada, said “You can’t have a product in here until you can actually open… So, we’re just waiting for a lab to be open in Las Vegas to test our product … Right now, we’re getting 20 to 30 calls a day. We’re probably going to be pretty busy, especially in the beginning.”
According to a recent news segment, DigiPath’s lab is ready to go after having purchased over a million dollars’ worth of equipment, pending final resolution of the State’s regulations. This first-mover advantage could be significant as the testing of their product is the last step dispensaries are waiting for before being able to sell potentially tens of millions of dollars worth of cannabis a year.
The new law specifically states that 12 grams of each 5-pound batch of harvested marijuana must be tested The tests themselves will check for contamination, potency, and a variety of other state-mandated factors required before the drug can be sold.
Marijuana Business Daily estimates that Nevada’s cannabis market would be worth anywhere from the tens of millions to more than $100 million. Some analysts mention that they would not be surprised if out-of-state sales of medical marijuana account for 30% to 40% of overall dispensary sales, especially given the state’s relaxed reciprocity laws that could make it a destination for “marijuana tourism”.
A second independent source, NerdWallet, puts the state in the third highest category for potential marijuana sales, with an estimate of between $50 and $100 million. With this analysis primary focused on domestic users, the potential to target tourists in Las Vegas could amplify those estimates by a factor of 1.5x to 2x or more, especially as the drug becomes more ubiquitous throughout society.
Investors interested in the cannabis testing industry, including companies like Pazoo Inc. (OTC: PZOO), CannLabs Inc. (OTC: CANL), or Abattis Bioceuticals Corp. (OTC: ATTBF), may want to take a closer look at DigiPath given its unique first-mover opportunity in Nevada’s burgeoning cannabis industry. With no debt, and $3.6 million in cash (as of their latest 10-Q filing), the stock is worth taking a closer look at.
For more information, please visit the company’s website at http://www.digipath.com/.
Legal Disclaimer:
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Important factors that could cause these differences include, but are not limited to, the demand for the company’s services and the company’s ability to execute its business plan. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, has been compensated for its services in the form of cash and equity securities by DigiPath. For full disclosure please visit: https://cannabisfn.com/legal-disclaimer/.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
The producers of O’ Cannabiz have decades of experience producing national-profile events and creating global connections between business communities in the arts, broadcasting, media and technology. They have organized trade summit initiatives with governments around the world. And they have worked closely with sponsors in all levels of Canadian government.
Matt Hawkins is the founder and managing principal of Cresco Capital Partners, LLC (“Cresco”), a private equity firm focused specifically on investing in the legalized cannabis industry. Since its inception in the summer of 2015, Cresco has made 14 investments out of its first fund and is currently raising this fund, Fund II. Prior to the […]
Village Farms International, Inc. is one of the largest and longest-operating vertically integrated greenhouse growers in North America. It is leveraging its 30-years as a mega-scale, low-cost greenhouse grower to capitalize on the cannabis opportunity in Canada.
KetamineOne Capital is focused on consolidating medical clinics and becoming a North American leader in mental health treatments.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
