Technology Archives - Green Market Report

StaffStaffApril 29, 2020
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4min3720

FlowerHire, a leading Staffing and Talent Strategy firm serving the regulated cannabis industry has signed an exclusive Partnership with Leafwire, “The LinkedIn of Cannabis,” which connects over 30,000 professionals across all cannabis verticals – including VCs, investment holding firms, supply chain operators, distributors, manufacturers, extractors, and retailers.

To help the industry and those companies still looking to hire and grow, Leafwire and FlowerHire are also offering 30% off normal placement fees for the rest of Q2. You can contact FlowerHire for more info on the discounted ‘pandemic rates’ at leafwire@flowerhire.com.

According to Leafwire CEO, “We want to do what we can to help more it more affordable for those innovative companies, who continue to move forward and thrive, even in these difficult times. We think it’s a huge opportunity for companies to secure some very talented team members, right now, as there are people currently looking for work, who are otherwise almost always employed. It’s a prime time to be hiring.”

“By joining forces with Leafwire, we have not only broadened our ability to deliver best-in-class executive recruitment and talent services to their passionate user base, but we will also be able to help facilitate meaningful networking and innovative partnership opportunities that will undoubtedly advance the industry,”  says David Belsky, CEO of FlowerHire. 

Since its inception in 2017, FlowerHire has played a critical role in building, scaling, and retaining world class teams for the North American cannabis industry.  Clients include many of the “rising stars” of cannabis, such as DNA Genetics, Papa & Barkley, Kiva, Ascend Wellness, Pleasantrees, and Glass House Group, FlowerHire has placed more than 300 professionals across ten states to date.

“Our mission has always been to build a conscious cannabis infrastructure and community, one hire at a time,” Belsky says. “Through strategically aligning with Leafwire — which represents some 13,000 companies worldwide with members hailing from areas as diverse as Australia, India, Germany, and Colombia, among others — we will be taking our mission to amazing new heights.” 

“Discussions about job growth in the U.S. tend to focus on industries such as technology and health care, but the biggest boom over the past couple of years has been taking place in cannabis. Now, more than ever, with cannabis retailers having been deemed ‘essential’ during this coronavirus pandemic, we will start seeing our burgeoning industry among the fastest-growing job markets in America. Leafwire’s partnership with FlowerHire will help exponentially accelerate this growth. We’re truly excited to bring FlowerHire’s expertise onto the Leafwire ecosystem,” says, Leafwire CEO Peter Vogel.

 


StaffStaffApril 7, 2020
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12min15080

Editors Note: This is a guest post.

When cannabis became legal in Canada for recreational use in July 2018, the path to legal weed seemed simple. When the Government of Canada appointed ex Toronto Police Chief Bill Blair to head up the legalization process is when the train came off the rails. 

Numerous delays along the legalization process started raising red flags in the budding cannabis industry. Later it became clear that the Canadian Government was not going to release its grip on the fledgling cannabis industry. The inexperienced parliamentarian’s designed complicated laws and regulations which they believed were going to allow for a smooth transition to legalized cannabis.  

Complicated Licensing and Regulations Force Boutique Growers Out

By the time the Liberals finished with the legalization process, it was almost instantly clear that the regulations encouraged large corporations to own the market. At the same time, smaller boutique growers wouldn’t be able to afford the extreme costs of licensing and meeting regulations. 

Many of the regulations designed by the Government to ensure that the medical-grade bulk CBD oil producers were providing customers with clean, quality cannabis products seemed to go by the wayside when the corporate weed companies took over. “Corporate weed,” as I like to call it, is lower quality and contains more contaminants and costs more than cannabis available from any other market, including the illegal market.

If that wasn’t enough to turn customers off the legal cannabis bandwagon, the Government also staggered the release of dry herb, edibles, and concentrate products. 

The Start of Really Bad Cannabis Products

While our Government’s incompetence was creating a market full of overpriced, low-quality cannabis products produced by corporate cronies, consumers got wise quickly. They went back to their black-market dealers who provided cheap, better quality weed. Even with a lack of product selection, consumers have made it clear that government corporate weed isn’t going to cut it. 

 Based on the poor experience, cannabis users had to accept and the fact that most consumers prefer to shop online as a matter of convenience, online dispensaries began to explode online. 

As the average person reads this article, most of you won’t be aware that people have been buying cannabis products online from BC dispensaries for over a decade. That’s a fact, and I know because I’ve been illegally purchasing cannabis from online dispensaries in British Colombia for as long as I care to remember. 

Ordering Cannabis Online is the Clear Choice 

The benefits of ordering online from BC have always been clear and haven’t changed much in a decade. British Columbia started its road to legalization many years ago. Since the beginning, growers and dispensaries in BC have been figuring out what the market wants, the quality they expect, and the price they are willing to pay. That head start allowed competition to grow and develop over time, naturally leading to better products, more product variety, and fair prices. 

Edibles and concentrates have been available online from BC for as long as I can remember. The market has matured in BC, and products have improved during that process. A healthy level of competition has stabilized the price per gram and created higher product quality demands. 

There are several reasons why I buy my cannabis products online and will continue to do so. We’ve already discussed the convenience of shopping anywhere and anytime using your phone or computer. Still, there are better reasons why I won’t change my ways. 

I Care About My Privacy

For me, privacy is a big deal! I don’t like people knowing my business, and I certainly am not interested in the American Government knowing my purchasing habits when I cross the border. Shopping at online BC dispensaries does improve your privacy over shopping at a legal government store such as the OCS store in Ontario. 

Small private dispensaries do require you to upload a photo of your driver’s license to prove that you are of age. Still, they don’t digitize your driver’s license and enter your information into a database like Government stores are doing. 

Government Stores are larger targets for hackers seeking to steal information or credit card data. At the same time, small dispensaries remain too small to justify a hacker’s time.

 Buying Cannabis Online is Easy and Secure

I like that I don’t need to go anywhere or talk to anyone when making my cannabis purchase online. I want to do my research and answer my own questions as much as possible. Still, if I do have a problem, I want fast and easy access to customer support services via email, phone, or live chat support. 

 Are you wondering how you could buy cannabis online and know that it will be a good quality product? I know it seems strange at first not being able to smell or touch the product before you buy it, but online dispensaries have this sorted out too. 

Use Cannabis Review Sites to know what you Are Buying

Most good online dispensaries, like the dispensaries listed on this cannabis review site, provide very detailed descriptions and details about all the products they stock. Excellent quality closes up images are used to show you every aspect of the bud’s character. The closer to knowing what product to buy is the honest user reviews that are collected by the customers who are purchasing the products. Any dispensary I shop at will have a lot of reviews from many users that is the only way I make my final buying decision.

Online Dispensary = Choice and Savings

Price is also a significant factor in where I purchase cannabis products. As a consumer, I’m searching for a perfect combination of quality and price when purchasing online. Having many dispensary options to choose from helps consumers by allowing price and product comparison shopping. 

If you’re looking for a common strain, you should be able to locate it at multiple dispensaries. Having that particular strain available at numerous dispensaries offers the consumer more opportunity to select the quality/price option they want.

Generally, online dispensaries have a more extensive customer base than traditional brick and mortar shops. Having a more extensive customer base allows online dispensaries to purchase their product in larger discounted volumes. Those savings are passed on to the customer to ensure that the store is competitive and busy.  

 How to be safe when buying weed online in Canada?

Buying online cannabis has been a fantastic option for me. Still, when I first considered purchasing online, I was understandably nervous just like you are right now. A bunch of worrisome thoughts popped into my head. Is this dispensary legit, will the product be as advertised, will the package be confiscated by Canada Post or worse would the police come knocking on my door?

Well, I can assure you everything worked out, time and time again. I have run into the odd minor issue when trying out a new dispensary, mostly problems with receiving the wrong product or the product not being exactly as advertised. Not once has a package gone missing, or a police officer showed up to arrest me. 

Today you have no reason to feel anxiety over ordering online. The legal status of cannabis has changed in Canada and the rules that govern the way Canada Post screens in-country packages. It’s legal to send marijuana through the mail and against our constitutional rights for privacy. 

In 2020, the online dispensary market has matured and become the leading access point for legal cannabis products. Having better prices and more selection than local legal dispensaries or online government options such as the OCS store continues to drive cannabis users online. 

The Only Real Options for Accessing Cannabis are Online or Black-market

Black-market cannabis remains the most significant section of the cannabis market and is showing little sign of change anytime soon. Calling your local “guy” is easy and fast and, most of all, the cheapest option, which is what the average cannabis user is looking to access. In time cannabis users will be forced to look to the online marketplace if they are interested in edibles, concentrates, top-shelf quality, and variety. 

 

 

 


StaffStaffMarch 2, 2020
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5min15990

Cannabis and CBD advertisers have historically had a hard time finding the right customers. But doing so just got easier, thanks to a partnership between CannaVu and Tamoco. Cannavu is a curated collection of compliant advertising for Canna-/CBD marketers. Tamoco is a sensor-driven location data network. Together, they’ll provide insights into more than 5,000 medical and recreational dispensaries in the United States, enabling marketers to determine which devices have visited them, how frequently they’ve visited, and how recently.  High-speed processing of precise data sets will enable clients to unlock business intelligence in real-time.

“Combining precise POI (points of interest) measurement with CannaVu’s powerful ad stack gives Canna-/CBD marketers an effective way of reaching the right audiences and segments,” said Daniel Angel, CEO of Tamoco. “We’re excited to see how this partnership can grow as brands can see the value of precise targeting and a better understanding of visits to Canna-POIs.”
CannaVu overcomes the industry’s marketing limitations by accessing ad impressions on Canna-Compliant mainstream and endemic publishers and vendors. Publisher partners set standards on types of advertisers, campaigns, creatives, geographies, and device types. The Tamoco Visits product analyzes large amounts of first-party location data to understand a visit to a point of interest (POI). The visits product goes beyond location and uses fields such as altitude, motion, and dwell time to more accurately understand the number of visits to a POI.


Privacy is of great significance to both companies: CannaVu follows state, federal, and FDA requirements on where companies can advertise and what types of creative can be used. It enforces an advertiser “Code of Conduct” more stringent than typical state and local requirements. Likewise, Tamoco’s Consent Management Platform (CMP) and Privacy SDK allow consumers to opt in at the point of data collection. This provides a shared and local record of consent which can be revoked by the user at any time. These preferences are stored and communicated with vendors in real time.  Benefits of the partnership include:

  • First-party data and robust visits methodology – knowing when someone actually visits a dispensary (rather than any ping inside a geofence around a POI).
  • Frequency and other metadata – knowing how recent visits were, which type of dispensary, and so on. This facilitates simple yet powerful segmentation for advertisers.
  • Ability to protect consumer privacy, especially with regards to the CCPA – Tamoco has built a CMP that integrates with a publisher’s app. When a device is recognized as being in California, Tamoco enables publishers to deliver a custom dialogue to ask for consent. Users have the ability to opt-out, hit “do not sell” or request to see any data Tamoco has related to their devices.

“Our field is highly competitive and regulations vary state by state. Advertisers in the cannabis and CBD categories working with us will be working with the most privacy-focused company in the business,” said Miles Dennison, CEO of CannaVu. “Our customers will know they are reaching cannabis intenders in a compliant manner and getting results.  We are closing the loop on digital to store to sale.”


Video StaffVideo StaffFebruary 24, 2020

1min8170

Front Range Biosciences is sending hemp tissue cultures to space. CEO Dr. Jonathan Vaught met with Green Market Report during the Northeast Cannabis Business Conference in Boston to explain why the company was involved with the studies on hemp in space. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date on all of GMR’s videos.


StaffStaffFebruary 18, 2020
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2min6470

Cannabis testing and analytics firm Digipath, Inc. (OTCQB: DIGP) reported a 26% increase in revenue to $808,930 for the first quarter of 2020 ending December 31, 2019. This is compared to $642,115 in the first quarter of 2019, and gross profit of $403,449, which rose approximately 152% over the comparative quarter in 2019. The company was able to trim its first-quarter net loss to $220,427 versus $462,174 for the same time period in 2018, an improvement of $241,747, or 52%.

“We continued to realize revenue growth and improved margins in our first fiscal quarter of 2020, and have been making significant strides to diversify our business units to take advantage of the scientific data we’ve compiled,” said Kyle Remenda, Digipath’s President and CEO. “I am very excited about the development of our Tru-Hemp ID Kit and SabIR handheld devices, and hope to be able to bring them to market in the current year all while continuing to improve the operations of our core asset.”

The company also said in a statement that it had made continued progress on the development of our SabIR device, which is its fully-integrated NIR spectrometer that will enable instant field testing for THC, CBD and CBG markers in the field. It also purchased a new Triple Quad 6500+ at the end of the quarter, which we expect will generate significant productivity improvements and cost savings once placed in service during the second fiscal quarter of 2020.

 


Debra BorchardtDebra BorchardtSeptember 23, 2019
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6min11300

The cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology company Akerna Corp. (Nasdaq: KERN) (formerly known as MJ Freeway) reported total revenue of approximately $11 million for the year ending June 30, 2019, which was a 4.2% increase over last year’s $10.5.

“Our fiscal 2019 results and recent milestones reflect the continued global adoption of both MJ Platform and Leaf Data Systems by cannabis enterprises and government entities,” stated Akerna Chief Executive Officer Jessica Billingsley. “We are also thrilled to have completed our merger with MTech. This transaction provided us a strong balance sheet and Nasdaq listing, which we expect will accelerate our product development efforts to meet the growing compliance needs of the global cannabis market.”

Revenue Breakdown

With regards to the revenue, Akerna noted that the first year of the Leaf Data Systems contract with Pennsylvania began in fiscal year 2018, returning to lower but stable run rates in the fiscal year ending June 30, 2019. The company said that monthly billings on MJ Platform increased in the month ending June 30, 2018, to the month ending June 30, 2019, by 55%.  Monthly Billings grew from approximately $268,816 in June 2018 to $417,163 in June 2019. The increase can primarily be attributed to growth in commercial software subscriptions to MJ Platform.

“We believe that demand for our MJ Platform software continues to be strong, evidenced by new contract bookings totaling approximately $31 thousand per month on average. This represents the revenue that would be recognized from newly booked clients in a month if they were all currently being billed. A newly booked client in a particular month may include those with actively billed recurring SaaS subscriptions, in addition to those with temporarily suspended subscriptions. An account may be temporarily suspended due to several factors, including:

  1. The client may be awaiting grant of operational license(s) from the state in which the client operates
  2. The client may be awaiting completion of their subscription implementation/setup
  3. Other operational factors which may result in a delay of client operations”

Software revenue in fiscal 2019 was $8.3 million, compared to $8.1 million the prior year. Consulting revenue was $2.4 million, compared to $2.3 million the prior year, driven primarily by the expanding legalized cannabis market.

The company said that its cost of revenue was approximately $4.6 million versus last year’s $4.4 million for an increase of approximately 6%. The statement said that the cost of revenue increased “primarily due to an increase in hosting and infrastructure costs incurred to support our Software business of approximately $0.4 million. Additionally, we incurred higher direct labor costs associated with providing the company’s consulting services of approximately $0.2 million. These increases in cost of revenue were partially offset by fewer third-party subcontractor costs associated with servicing our Leaf Data Systems clients.”

Post Quarter News

Akerna noted the following news events that occurred after the quarter closed.

  • July 2019, expanded further into Europe by serving clients in two additional countries, Italy and Macedonia.  Opened a Medellín, Colombia office to serve our growing footprint in South America.
  • July 2019, a new partnership with Leafly to provide seamless and real-time data updates.
  • August 2019, awarded a new contract from the Utah Department of Health and Department of Agriculture to implement Leaf Data for the state’s new medical cannabis program.
  • August 2019, MJ Freeway named to the Inc. 5000 list of the nation’s fastest-growing private companies.
  • August 2019, Leaf Data and solo sciences partnered to launch solo*TAG™, the world’s first cryptographically-secure, cannabis product authentication system. Exclusively for governments and only available with Leaf Data Systems, our advanced tagging technology combined with a closed-loop platform, significantly improves and strengthens the category of government track-and-trace products.
  • August 2019, announced a strategic partnership to integrate Isolocity’s quality management system (QMS), supporting GMP and ISO 9001 compliance, into MJ Platform.

Looking Ahead

Billingsley added, “Looking ahead, being a public company is expected to afford us liquidity to capitalize on growing market demand and continue our organic growth.  We also intend to opportunistically execute on a targeted, accretive acquisition strategy aimed at building scale and enhancing our growth prospects.”


StaffStaffJuly 25, 2019
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4min16091

Leafwire, the largest cannabis business network worldwide, announced today the closing of a Seed Round for $1 Million. Since its launch, Leafwire has grown rapidly, often with over 1,000 members visiting the platform daily. Leafwire currently boasts more than 16,000 members currently and is projected to surpass 25,000 members by the end of the year. 

Along with their Seed Round announcement, Leafwire has also announced the launch of its new Marketplace feature which will allow for expanded business networking and partnership opportunities for the industry. 

“We built Leafwire to create a safe place where cannabis business professionals can connect, share ideas, find employees and find investors, something that is taken for granted in other industries,” explained CEO Peter Vogel. “ Cannabis is a unique industry and we built Leafwire for that reason; to serve the needs of all cannabis industry professionals.”

The Leafwire Marketplace will act as a robust cannabis business directory with 50+ categories ranging from Legal Services, Payment Processing, Domain Names to Packaging. This cannabis-friendly directory is designed for and based on Leafwire member requests, where everyone can find and connect with the exact cannabis services they’re looking for. 

Leafwire’s Seed Round of $1 Million includes investments from Network Ventures, Silverleaf Venture Partners, KEY Investment Partners, and One East Partners. 

Jordan Youkilis, Founding Partner of KEY Investment Partners, expressed his confidence in the platform, “We became investors in Leafwire, because even in their early stages they have been an invaluable source of deal flow for us. Leafwire has helped to connect us with dozens of dynamic entrepreneurs we wouldn’t have otherwise met. We expect the value provided by Leafwire to continuously increase.”

Speaking on his personal success on Leafwire, Greg Cowan, Investor and Business Consultant at Greenleaf HR, shares, “I was amazed at how quickly networking on Leafwire paid off in a short period of time. Within the first couple of months, I read an article posted by one of my connections that described banking challenges experienced by a CBD manufacturer and retailer. I took a leap of faith and cold-called the person in the article and two weeks later I had an executed Client Services Agreement. Keep in mind, this is a person whom I would have never known about had I not been networking on Leafwire that morning.”

In addition to the Marketplace, they also expect to launch one of the largest cannabis job boards in the industry in the coming weeks. The job board has been the most requested feature by Leafwire members, from both companies looking for employees and job-seekers.

 


StaffStaffJuly 16, 2019
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4min29640

With one of the largest cannabis technology fundraises completed to date,  Jane Technologies, Inc., a retail software company that created the first and largest online cannabis marketplace, has announced it has secured $21 million in Series B funding.

The I “Heart” Jane team is the company behind the first cannabis e-commerce marketplace expands to keep up with global demand for retail cannabis products sold online.

This latest round of funding, led by new and returning investors, will allow Jane to expand its online marketplace to international vendors, bolster its data analytics platform, and deliver data to other industries. The funds will also enable Jane to continue to advance its e-commerce platform of more than 150,000 products with real-time integration into point-of-sale systems.

In October 2018 Jane announced $6 million in Series A funding, which enabled the tech company to grow its technological advances and data analytics while providing consumers an optimized shopping experience. The company is currently in partnership with more than 700 stores across 21 states. 

As the cannabis industry continues to rapidly expand, Jane’s internal data has demonstrated people spend double on online purchases than in-person. Today people who purchase CBD spend 50% more than those who do not. Research also shows the online cannabis shopper will spend an average of $206 a month compared to the offline shopper who spends only $122 a month. 

“We’ve seen Jane effectively support some of the largest retail clients in the country and are pleased to partner with the software innovator so they can grow exponentially,” said lead investor Nick Deans of Pakala Jane Partners. “The online retail marketplace allows Jane to promote local businesses and increase sales with larger shopping cart purchases while keeping transaction costs down.”

Ian Dominguez of Delta Emerald Ventures sees significant value creation opportunity in Jane’s consumer-centric data. “Jane’s purpose-built platform will continue to drive operational improvement for the cannabis industry. In addition, the Jane platform translates across many industries, making Jane as a whole, the future of omnichannel data.”

“Within the rapidly evolving cannabis space, Jane’s insights as the largest facilitator of e-commerce in the industry are invaluable to its partners, particularly for brands seeking to establish and position themselves within an increasingly crowded marketplace,” said Jason Adler, Managing Partner of Gotham Green Partners. “This investment provides resources for building additional infrastructure and proprietary interfaces to help cannabis businesses worldwide to maximize their potential.”  

Jane Technologies Founder & CEO, as well as U.S. veteran, Socrates Rosenfeld stated that “in a world dominated by major multi-national online retailers, we’re bringing together innovative technology to support local businesses, and connecting customers to wellness benefits in their region.”  He also explained that “expanding to global markets is key for Jane as we continue to pioneer the industry and grow an industry-leading team. By helping cannabis companies in the U.S. and overseas, we are localizing the online sales process by bringing together dispensaries, brands and consumers through automation.”


StaffStaffJuly 12, 2019
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8min26022

Jessica Billingsley is a technology pioneer, solutions creator and industry leader, providing proven compliance software solutions to the cannabis market. She is the Chief Executive Officer of Akerna—the first cannabis compliance technology company to be traded on Nasdaq—making her the first CEO from this market space to bring a company to a major U.S. exchange. Jessica is also the CEO of Akerna’s flagship subsidiary—MJ Freeway. She established MJ Freeway in 2010 and it is the leading seed-to-sale regulatory compliance technology provider and developer of the cannabis industry’s first enterprise resource planning (ERP) platform. Akerna also offers Leaf Data Systems as a government resource for public sector compliance. Combined entities tracked more than $15 billion in world-wide, client cannabis sales to date. She is the first woman ever from the cannabis industry to receive the prestigious Fortune’s “Most Promising Women Entrepreneur Award” and is also recognized as one of Inc.’s “Female Founders 100.” Jessica received a degree in Communications and Computer Science from the University of Georgia and lives with her daughter in Denver.

GMR Executive Spotlight Q&A – 

Full birth name: Jessica Billingsley 

Title: Chief Executive Officer, Akerna and Chief Executive Officer, MJ Freeway

Company: Akerna and MJ Freeway

Years at current company:  Akerna launched in June 2019. Nine and a half years at MJ Freeway.

Education profile:  At 16 years old, I received a full academic scholarship to attend the University of Georgia, where I received a degree in Communications and Computer Science.

Most successful professional accomplishment before cannabis:  Prior to forming MJ Freeway, I built and managed technology operations with an emphasis on executive management, corporate culture, finance, and strategic relations. I launched my first company at 22, and I’ve been a successful founder, owner, COO and CEO of several companies.

Company Mission: Our technology empowers a compliant cannabis industry to prove outcomes that positively change lives every day.

Company’s most successful achievement: Nine years ago, my co-founder and I invented seed-to-sale tracking upon identifying the need for organic material tracking and compliance SaaS solutions in the growing cannabis industry. We were supporting one of the first cannabis dispensaries and grows in Colorado, and saw that cannabis needed technology built for it not adapted from other industries. And we believed visibility across the entire supply chain from seed-to-sale would be a requirement for the industry’s sustained growth. MJ Freeway was born with the launch of our patent-pending cannabis seed-to-sale technology. Today, seed-to-sale tracking is a requirement of most state’s that regulate legal cannabis. And to date MJ Freeway has tracked more than $13B in legal cannabis sales.

In 2017, in response to what I saw as the maturing of the cannabis market to multi-state enterprise businesses, MJ Freeway launched the cannabis industry’s first ERP. We also led the international expansion in the cannabis technology sector very early on in 2012 in Canada then into Spain. Today, our total international footprint spans 13 countries. Innovation and seeing what opportunities are next on the horizon – and then being ready for them first – is a hallmark of MJ Freeway and now Akerna. 

Most recently, I’m proud of an accomplishment that is a testament to the entire MJ Freeway team. Via a merger between MJ Freeway and MTech, a shell company formed for the purpose of acquiring a cannabis technology company, Akerna is the first software company that serves cannabis businesses to be traded on a major U.S. exchange. Akerna is traded on the Nasdaq under the ticker symbol: KERN. It’s an unprecedented milestone signifying a shift in beliefs and generating ripples of opportunity.  

Finally, I’m proud to have broken a couple of glass ceilings by serving as CEO of a technology company and holding a CEO position in a publicly traded company. Unfortunately, both are very rare occurrences. MJ Freeway launched last year the One Woman Challenge campaign to empower women in their careers. I want to reverse the growing decline of women in tech. It’s appalling to learn there’s a smaller percentage of women working in tech today than 25 years ago. Please learn more about the #OneWomanChallenge on our website and social pages and get involved. 

Has the company raised any capital (yes or no): Yes

If so, how much?: $25M in private financing prior to this most recent public transaction.

Any plans on raising capital in the future? Yes. Akerna’s strategy is to consolidate cannabis technology companies to connect data points in the global cannabis supply chain. Raising capital is a piece of our strategy to fully execute on Akerna’s strategy and is a reason for our listing on Nasdaq to be able to access more cost effective capital.

Most important company 5-year goal: To build the world’s most transparent and accountable consumer packaged goods supply chain. There’s an explosion of growth in consumers’ desire for transparency in products, which starts with transparency in the supply chain. With MJ Platform’s technology, I can tell you what farm the cannabis in your gummy was harvested from, what date it was harvested, and what nutrients were added prior to harvest. We can then follow the progression of the exact cannabis in that gummy until the moment it was sold to you. Seed-to-sale technology gives an unprecedented level of transparency across the supply chain. We intend to build on MJ Platform and grow Akerna through acquisitions to connect more data points across the cannabis supply chain and empower businesses, governments, and the public with the information they need to make better decisions. We are excited about the explosive growth of this industry and how compliance technology will underpin it. 


StaffStaffJuly 11, 2019
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4min18010
Antonio Frazier is the Director of Operations at CannaSafe, the first ISO licensed cannabis lab in the world and the leading marketshare holder in California.
Het met CannaSafe President, Aaron Riley, while playing football together at Furman University, where he earned a Bachelor of Science degree; he also holds a B.S. in Materials Engineering from Clemson.
Frazier began his career as a Nuclear Quality Engineer for the Tennessee Valley Authority, certifying and verifying final construction of nuclear components. He then moved to aerospace engineering, performing quality assurance for the foundry, testing lab, heat treat, and special finishing departments for SKF USA (Baltimore).
Antonio enjoys using his industrial, public safety focused skillset to forge the standards of a burgeoning industry; cannabis is just a huge bonus. He’s an English Premiere League fanatic (Chelsea), married with two sons, and resides in Los Angeles, California.
GMR Executive Spotlight Q&A –

Full birth name: Antonio Frazier

Title: Director of Operations

Company: CannaSafe (https://csalabs.com/)

Years at current company: 2 years

Education profile: Antonio played football at Furman University with Aaron Riley, current president of CannaSafe. He wanted a degree in engineering, but Furman didn’t have an engineering program, so he ended up driving between both schools for two years and received 2 B.S. degrees – one from Furman University and the other from Clemson University in Materials Engineering.

https://www.furmanpaladins.com/sports/m-footbl/spec-rel/091009aaa.html

Most successful professional accomplishment before cannabis: Reducing foundry scrap by over 25%, and therefore saved SKF USA over $100,000 per month on material waste. This lead me to win the 2015 SKF Excellence Award, a global recognition within the company. This was done by implementing new SOPs and six sigma practices, which lead to much better on delivery time of final parts and helped increase moral throughout the company.

Company Mission: To set the standard in cannabis science and ensure patients have safe access to medicine.

Company’s most successful achievement: Becoming the first ISO 17025 certified cannabis lab in the world. CannaSafe is now currently the market share leader for California compliance testing.

Has the company raised any capital (yes or no): Yes, but not publicly.

If so, how much?:  N/A

Any plans on raising capital in the future? Our team has not decided on this as of yet.

Most important company 5 year goal: To have multiple locations across the country, and to help establish Federal industrial hemp (CBD) testing requirements.

 



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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