SEATTLE, WA--(Marketwired - Dec 28, 2016) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing the growth of Medicine Man Technologies Inc. (OTCQB: MDCL) over the recent year and the outlook for the future as more states legalize marijuana.
The cannabis industry is expected to reach $20.6 billion by 2020, according to the market research firm ArcView. With over 20 clients across the United States, Medicine Man Technologies has become a top branding and consulting firm within the rapidly growing industry. Management's recent acquisitions and future pipeline could further drive value in 2017 and beyond as the cannabis industry continues to mature.
By leaning on its experience operating an iconic Colorado dispensary, the company's management team has helped more than 45 clients across 14 states secure licenses, avoid costly start-up mistakes, and consult with an expanding team of licensees and partners as needed.
Medicine Man Technologies, in August, announced a deal to acquire Pono Publications and Success Nutrients to offer enhanced cultivation consulting and extraordinary nutrient lines to its growing client base. With the launch of Cultivation MAX, the company will leverage these technologies to help clients increase the efficiency and yield of existing cultivation operations. The service guarantees a decrease in cost and an increase in yield with fees generated without any upfront cost. Medicine Man is so confident in the system that it doesn't charge fees unless it is as effective as advertised.
During the first three quarters of 2016, the company generated $568,388 in revenue from licensing and consulting fees. Management expects to grow these revenues as existing service agreements hit payment triggers based upon new state legislation in Oregon, California, Pennsylvania and Nevada. Notably, the company also reported a net income of $18,752 during the third quarter, which sets it apart from competitors in an industry where revenues are spotty and net income a rarity.
Organic Growth & Acquisitions
Medicine Man Technologies plans to expand over the coming year through a combination of new clients and strategic acquisitions. New clients continue to add incremental revenue and cash flow, while acquisitions provide opportunities to diversify and upsell to existing clients. With already-profitable operations, investors can directly benefit from the increase and revenue without as much dilution when making acquisitions.
The company is well positioned to organically grow its business as the number of states with legal medical and recreational marijuana continues to increase. In particular, management reported a surge in Pennsylvania business as it works to complete its rules making and application process associated with the passage of SB3 in April 2016. The addition of California to the mix could create significant additional opportunities as the largest revenue market. Medicine Man is currently supporting five Maryland clients with cultivation, processing, and dispensary deployment consulting projects and has also been responding to numerous requests from other Maryland phase one awardees.
In addition, the company continues to build out its brand warehouse concept with a growing pipeline of acquisitions. The Success Nutrients and Pono Publications acquisitions are being finalized, while the acquisition of Capital G (Funk Sack and Odor No) and other earlier stage deals could unlock further value for shareholders. Note that both Pono Publications and Success Nutrients are already profitable and will have generated in excess of $1M in their 1st year of operations (2016).
Please follow the link to read the full article: http://www.cannabisfn.com/medicine-man-mdcl-adds-clients-targets-acquisitions/
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About CFN Media
CFN Media (CannabisFN), the leading creative agency and media network dedicated to legal cannabis, helps marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
About Medicine Man Technologies Inc.
Medicine Man Technologies is an innovative provider of consulting services related to cultivation, production, and dispensary operations nationally. Currently serving 19 clients in 11 states, including Puerto Rico, as well as having successfully supported license applications (cultivation and dispensary) in Illinois, Colorado, and Nevada, we are now working with clients in California, Oregon, and Pennsylvania to support applications in their respective states. Further information about MMT can be found in our S1 and 10Q/K filings.
For more information, visit the company's website at www.medicinemantechnologies.com
Except for the historical information presented herein, matters discussed in this release 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, which owns CFN Media and CannabisFN.com, 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 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 may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.