Several cannabis companies were strong performers last week, despite the overall decline in the Marijuana Index™. Tranzbyte Corp. (ERBB) jumped more than 80% after completing the first placement of its ZaZZZ machine in Eagle-Vail, Colorado; Endexx Corp. (EDXC) rose nearly 40% after announcing that it would exhibit at the 2014 U.S. Cannabis Cup in Denver, Colorado; and, Anything Tech Media (EXMT) doubled in price after announcing a $1 million private placement.
On a regulatory level, investors are preparing for Canada's upcoming MMPRs to go into effect on April 1, 2014. Companies like Abattis Bioceuticals (ATTBF) plan to have MMPR licenses, while others like Tweed that already have licenses are planning to go public soon. In the U.S., many states continue to make progress in loosening their medical and/or recreational marijuana laws. U.S. investors are hoping that these actions will put increasing pressure on the government to create a federal framework.
What's New?
- Colorado Collects $3.5 Million from Pot in January – Colorado reported total marijuana taxes, licenses, and fees of over $3.5 million in January 2014 after legalizing marijuana for recreational use with its hefty tax rates.
- DirectView Targets Cannabis Security Market – DirectView Holdings Inc. (OTCBB:DIRV) announced an agreement to provide video surveillance and alarm monitoring for a 15,000 square foot facility in Denver, Colorado.
- MediSwipe Purchases Land to Sublease to Growers – MediSwipe Inc. (OTCBB:MWIP) completed the purchase and proposed leaseback of 80 acres zoned for agricultural use in Pueblo County, Colorado targeting growers.
- Maryland Votes to Decriminalize, Not Legalize – Maryland has generated enough votes to legalize marijuana quite yet, but the Senate did vote 36-to-8 for a bill that would decriminalize marijuana possession.
- MMPR-Certified Tweed Takes a Step Closer to Trading – Tweed Marijuana Inc. completed its reverse merger with LW Capital Pool Inc. (TSXV:LWI.H) to trade on Canada's TSX Venture exchange as an MMPR producer.
What to Watch This Week
The cannabis sector was mixed this week. Canadian investors are waiting for April 1, 2014 when the country's MMPRs will go into effect, while U.S. investors continue to trade companies capitalizing on the ongoing march towards legalization. With Colorado's successful January tax revenue, many states appear to be moving more urgently towards implementing laws of their own to raise revenue and reduce crime.
0.014(24.67%) Mar 21, 3:59PM 
TEMPE, AZ--(Marketwired - Mar 21, 2014) - Tranzbyte Corporation (OTC Pink: ERBB)(
"When one looks at the obvious NAFTA synergy, this relationship makes all the sense in the world. Abattis is a powerhouse in Canada; we are stronger in the US. From cross-promotion to extended sales and marketing, the opportunities that will be created with the two companies working together will be nothing short of phenomenal," says Stephen Shearin, Tranzbyte COO.
According to David Gwyther, Tranzbyte's president, "I am very impressed with Abattis's commitment to the research, development, and marketing capability they've shown involving their proprietary, natural health and wellness solutions which address chronic illnesses through targeted nutritional support and, thus, fit perfectly into Tranzbyte's future plans. Working together leverages our collective visions for this vast and expanding marketplace."
In addition, Abattis owns flash-freeze extraction technology that produces the highest grade flower extract which is in high demand today. Conventional extraction methods require heat and solvents which can increase liabilities for dispensaries who extract on-site. The Northern Vine cold press extraction owned by Abattis is exactly what the industry needs to fulfill patient orders in a clean safe manner. "This offers dispensaries and growers a complete end-to-end solution of cutting-edge grow technologies and plant analysis," comments Mike Withrow, CEO of Abattis. "In addition, with the rights to the ZaZZZ™ automated vending opportunity as the regulatory climate evolves in Canada, we open up a lot of growth potential. Merging the efforts of the leading companies in each country should build real shareholder value for each company."
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Q2 had reported a 4,600% increase in prior year's revenues and 1,500% increase in prior year's net profit; and Q3 had reported 3,700% increase in prior year's revenues
There are no active paid promotions which is a definite plus point. There are also no new press releases and SEC filings which isn't.
In fact, the whole commotion seems to be due to Tesla Motors Inc (NASDAQ:TSLA)'s plans to build a giant new lithium-ion battery plant. It will be the largest of its kind and TSLA insist on calling it a "Giga Factory".
Apparently, a lot of investors think that OTC-listed lithium companies can benefit immensely from the new facility (which won't be ready until 2017) and tickers like LTUM and Lithium Exploration Group Inc (OTCMKTS:LEXG) are currently flying high. But are exploration stage penny stock ventures really about to become rich because of TSLA's giga factory?
We have some doubts. For one, Tesla did say that they are going to have some partners help them with their new plant, but, for now, they don't seem too keen on telling us who the partners are. Analysts reckon that Panasonic are going to take part, but nothing is official as of right now and small cap enterprises like LTUM aren't mentioned anywhere.
Cannabis Stocks: Wait For Proof Of Business Concept by Abdalla Al-ayrot, 51 comments
Notable earnings before today's open: SOL
Notable earnings after today's close: SONC
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