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GreenGro Technologies, Inc. is a publicly traded pink sheet corporation that provides manufacturing and sales of green, eco friendly, sustainable vertical cultivation systems, and facilities design. GreenGros products and services are targeted at consumers, industrial farming operations.... More
Tue, May. 13, 7:35 AM
- Greengro Technologies (GRNH) invests in Cannabis Ventures to support its application with Health Canada. It will also extend its expertise in indoor/outdoor agricultural science systems for the medical pot growth operations. CEO James Haas says, "We have several turn-key products that will immediately benefit the groups that have received their MMPR license.
- The two companies will explore further business opportunities regarding Greengro's Modular Gro systems for the Canadian market. The Modular Gro systems will also be introduced for interior grow rooms under Canadian guidelines.
Tue, Mar. 11, 11:40 AM
- Colorado is off to a fast start collecting tax revenue from the sale of medicinal and recreational marijuana. According to Forbes, the state's January take was $1.5M for the former and $2M for the latter. The bulk of sales happen in Denver county.
- The fully-burdened tax rate can be as high as 21.1% on pot consumers.
- The state also charges a 15% "retail marijuana excise tax" that is levied on the first sale or transfer from a cultivation facility.
- The state now faces the political problem about how and where to spend the money.
- Marijuana industry stocks such as (MDBX) (CBIS) (MJNA) (GRNH) continue to generate substantial investor interest and debate.
Fri, Feb. 14, 4:04 PM
- Volatile marijuana stocks have closed with big gains after the Treasury Dept. and deputy U.S. attorney general established banking regulations for licensed sellers. Notable gainers: MDBX +21.8%. MJNA +5.1%. GRNH +4.3%. AVTC +10.4%. MWIP +7.6%. HEMP +1.7%.
- The rules allow banks to do business with marijuana sellers deemed to be obeying state laws, and not running afoul of eight principles, which include selling to minors and trafficking marijuana to states where it's illegal to do so. However, banks will have to file suspicious activity reports detailing transactions made by marijuana vendors.
- The National Cannabis Industry Association calls the ruling, which comes six weeks after Colorado began legal marijuana sales, a "huge victory." But many observers think top U.S. banks will still tread cautiously.
- FINRA has issued a warning about potential marijuana stock scams.
Thu, Jan. 9, 5:25 PM
- Medical Marijuana (MJNA +4.3%) is up 25% YTD on the pink sheets as investors continue making speculative bets on pot-related plays following the start of legal marijuana sales in Colorado on Jan. 1.
- On the other hand, several peers gave back a big chunk of their recent gains today: GRNH -52.4%. AVTC -15.8%. MDBX -18.6%. HEMP -24.1%. MWIP -21.9%.
- But GW Pharmaceuticals (GWPH +23.5%), a more established name that yesterday priced a 2.4M-share follow-on offering at $36, went in the other direction.
- With demand outstripping expectations, Colorado is (for now) arguably seeing the marijuana equivalent of the 1970s oil crisis: Long lines, shortages, rationing, and soaring prices have become the norm for licensed dispensaries.
- Words of caution from seasoned investors about putting money into pot plays are easy to find. Fund manager Frank Igarra: "There might be one or two that survive, but having seen crazes like this, people have been burned by them a lot. The average investor should think twice."
- FINRA issued a warning in August about potential marijuana stock scams.
Fri, Jan. 3, 4:49 PM
- Investors apparently have taken the big crowds outside marijuana retailers in Colorado as a harbinger of potential growth in the still-new industry after the state launched the first legal U.S. sale of recreational pot.
- Most of the companies that could benefit are very small, with MediSwipe (MWIP), which sells transaction processing systems to the medical industry, perhaps the most established; others include GreenGro Tech (GRNH), which sells growing systems and equipment popular with pot farmers; Medbox (MDBX), which makes storage and dispensing machines for controlled medicines; and GW Pharmaceuticals (GWPH), which focuses on medicines derived from marijuana.
Sep. 11, 2013, 9:49 AM
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