Helix TCS Archives - Green Market Report

William SumnerAugust 14, 2019
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BusinessDaily Hit

The Daily Hit: August 14, 2019

6min00

It’s time for your Daily Hit of cannabis financial news for August 14, 2019.

On the Site

Zenabis Global

Zenabis Global Inc. (TSX: ZENA) (OTC: ZBISF) reported that its second-quarter net revenue rose 78% to $25 million from last year’s $4.1 million for the period ending June 30, 2019. The company said that the results were achieved “despite being negatively impacted by temporary price reductions on inventory sold to provincial counterparties designed to help Zenabis to capture a larger share of the recreational cannabis market.”

Charlotte’s Web

Charlotte’s Web Holdings, Inc. (TSX: CWEB)(OTCQX: CWBHF), a producer of whole-plant CBD hemp extract products, reported its financial results for the second quarter ending June 30, 2019. The company’s revenue grew 45% to $25 million over last year’s $17.2 million for the same time period. The net income fell to $2.2 million from last year’s $3.7 million.

Who’s Really Buying CBD? And Why?

If you’re asking yourself who’s buying CBD products, just take a stroll to your local grocery store and mosey over to the vitamins and supplements section. Prepare to be overwhelmed by the thousands of nutraceutical “wellness” products filling the shelves – everything from melatonin chocolates for sleep-aid to echinacea for immune support – and yes, very recently products containing the compound that’s outshined Beyonce in popularity, CBD.

In Other News

Jushi Holdings

Today, Jushi Holdings Inc. released its financial results for the second quarter. Year-over-year, revenue for the quarter increased to approximately $200,000, and the gross profit was roughly $200,000. The net loss increased to $11.8 million, up considerably from $100,000 in the same period of the previous year. Despite low earnings and high losses, the company has a net working capital of $95.4 million, of which $86.7 million is in cash.

Sundial Growers

Sundial Growers Inc. (NADAQ: SNDL) has released their financial results for the second quarter. Gross revenue was $20.3 million. The net loss declined from $16.6 million in the first quarter to $12.4 million. Adjusted EBITDA was a loss of $500,000, up from a loss of $5.5 million. “Sundial accomplished great things this past quarter and our team’s solid execution across key areas of our business resulted in significant revenue growth,” said Torsten Kuenzlen, CEO of Sundial. “We are very confident in our go-to-market strategy, our strengthened balance sheet and our ability to execute upon organic growth opportunities.”

The Green Organic Dutchman

After the close of the market yesterday, The Green Organic Dutchman Holdings Ltd. (TSE: TGOD) reported their financial results for the second quarter. Revenue rose 20% over the previous quarter to $2.9 million. The net loss rose from $8.5 million in the previous year to $16.6 million.  “Q2 was pivotal for the Company as we began commercial production in the second phase of our Hamilton site and expanded our product line for the Grower’s Circle,” commented Brian Athaide, CEO of The Green Organic Dutchman.

Helix TCS

Today, Helix TCS, Inc. (OTCQB: HLIX), announced the release of its financial results for the second quarter. Quarterly revenue was $3.9 million. The gross profit was $1.9 million, with a gross margin of 49%. “We feel that we are still deeply undervalued due to our focus on execution as opposed to publicity, and are working to tell the simple truth of our constantly improving business and strong results,” said Helix TCS CEO and Executive Chairman, Zachary L. Venegas.

HempFusion

HempFusion, Inc. closed a brokered and non-brokered private placements of a total of 28,800,000 units of the Company at a price of US$1.25 per Unit for gross proceeds of US$36 million. The brokered portion of the Offering consisted of the sale of 26,227,650 Units for aggregate gross proceeds of US$32,784,563 and was completed by a syndicate of agents led by Canaccord Genuity Corp. and including Haywood Securities Inc. and PI Financial Corp. Due to demand, the Offering was upsized from US$20 million to US$36 million.

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Debra BorchardtJune 24, 2019
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Business

BioTrack THC Adds New Hampshire To Its Roster of States

5min00

BioTrackTHC has been awarded a contract by the New Hampshire Department of Health and Human Services  to provide its Therapeutic Cannabis Program Patient Registry System to electronically process and track patient and caregiver card applications. BioTrack is a subsidiary of Helix TCS, Inc. (OTCQB: HLIX)

According to the statement. BioTrack has a separate contract with all of the New Hampshire Alternative Treatment Centers, referred to as “dispensaries” in most states, for seed to sale inventory tracking. The contract’s life is through December 31, 2021 and is valued at $400,000. With the addition of this contract, BioTrackTHC provides government cannabis regulatory technology to 10 U.S. states and territories and was recently awarded seed to sale traceability contract extensions in Illinois, Hawaii, and Delaware.

“Our platform of critical infrastructure services has a proven track record in creating streamlined, transparent, and secure cannabis programs as we have demonstrated by empowering some of the soundest programs in the country,” said Moe Afaneh, COO of BioTrackTHC. “We look forward to providing New Hampshire with the same level of industry-leading technology, service, and peace of mind that has made our other contract partners so successful.”

Maine

Last month, Maine’s Office of Marijuana Policy announced the conditional award of a contract for marijuana track and trace services to Bio-Tech Medical Software, Inc. Once a contract is successfully negotiated, OMP said it will deploy BioTrackTHC to track the growth and distribution of marijuana and marijuana products throughout Maine.

“The selection of BioTrackTHC as Maine’s seed-to-sale tracking software is another important milestone for the Office of Marijuana Policy,” said OMP Director Erik Gundersen. “BioTrackTHC will be used by individuals and businesses choosing to participate in both the medical and recreational programs. We look forward to utilizing their solution to effectivity regulate both industries.”

The State of Maine said it received proposals from six interested parties in response to a request for proposals (RFP) #201903049. Bidders for this procurement included BioMauris, BioTrackTHC, Dauntless, Visual Vault, Metrc, and MJ Freeway. Out of a possible 100 points, the RFP review team gave BioTrackTHC’s proposal a score of 90 points. Bidders were scored on organizational qualifications and experience, proposed services, and cost. The next closest bidder was Metrc, with 69.73 points.

According to the state’s announcement, OMP announced in March that it had withdrawn from a contract agreement with Metrc to provide track and trace services for Maine’s medical program. Original plans had called for expanding that agreement to adult use marijuana later; however, the Office of the Attorney General advised OMP staff that a competitive procurement for the services would be a more appropriate alternative.

“As the legal cannabis industry expands into new markets and the global industry matures, technology that facilitates transparency and product quality are essential to ensuring safety among the communities and longevity of the industry,” said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS, Inc. “We have proven our ability to empower safe and accountable cannabis programs and look forward to seeing more states start down the path of legal cannabis.”

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William SumnerJune 13, 2019
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Business

MJMicro Conference To Connect Publicly Traded Cannabis Companies with High Net Worth Investors

5min00

Although adult-use cannabis is legal in nine U.S. states, problems persist with companies trying to gain access to capital and essential financial services. Consequently, the industry has devised a series of methods and institutions to circumvent these difficulties; from credit unions to keeping their funds in a giant safe. Another unique way that the cannabis industry has adapted to the issue has been connecting companies with private capital investment through investor forums. A perfect example of this is the MJMicro Conference planned for June 25, 2019, in New York City.

MJMicro is an invitational investor forum aimed at connecting high net worth investors with C-level executives of cannabis companies that have proof of concept, revenue streams, audited financials, and valuations justified by public markets.

The conference is hosted by MjLink.com Inc., a wholly-owned subsidiary of Social Life Networks, Inc. (OTC: WDLF).  George Jage is President of MjLink.com, which is an A.I. and Blockchain powered cannabis social network technology company that launched one of the first cannabis social network platforms in the United States and Canada, back in early 2013.

In addition to a fireside chat with two of the leading cannabis companies in the industry, Canopy Growth (NYSE: CGC) and Acreage Holdings (OTCMKTS: ACRGF), several companies have been selected to host spotlight presentations during the conference. Those companies include Emerald Health Therapeutics (CVE: EMH), FSD Pharma (OTCMKTS: FSDDF), and Helix TCS (OTCMKTS: HLIX).

Emerald Health Therapeutics is a medical cannabis company licensed to operate in Canada. The company’s subsidiary, Emerald, both produces and sells medical cannabis and has a stake in a company that produces, cultivates and distributes wholesale cannabis and cannabis extracts for both adult-use and medicinal purposes.

Most recently, Emerald Health was appointed by the American Trade Association for Cannabis and Hemp (ATACH) to lead its International Affairs Council on CBD and Hemp in ATACH’s engagement with the US Food & Drug Administration’s public hearing on CBD regulations.

Acting as a subsidiary of FV Pharma Inc., FSD Pharma focuses on developing high quality indoor-grown medical cannabis and the development of novel cannabinoid-based treatments for several central nervous system disorders. The company is currently engaged in expanding its 25,000 square foot cultivation facility in Ontario.

Helix TCS provides infrastructure services for the cannabis industry. Though the company may not be a household name, several of its subsidiaries are more recognizable; including Helix Security, Cannabase, and the seed-to-sale tracking software company BioTrackTHC. Tracking over $18 billion in legal cannabis sales, Helix TCS’s products are used in six countries, 36 U.S. states, and over 2,000 licensed retail locations.

In addition to the spotlight presentations by Emerald Health, FSD Pharma, and Helix TCS; several notable cannabis companies are also set to present at MJMicro. Those companies include MJ Freeway, Dixie Brands., Vireo Health, and more.

Jage was the lead executive and driving force behind the development of Marijuana Business Daily and the success of MJBizCon from 2014 through 2017 and most recently he took the helm at Dope Media and successfully negotiated the acquisition by the High Times Holding Corp. His events have been recognized by Tradeshow Week (2006, 2008, 2009) and Tradeshow Executive (2016, 2017) as one of the fastest growing events in the U.S.  He has been awarded UNLV’s Jerry Valen Award of Distinction (2010) and the Nevada Entrepreneur Award (2008), and named as the Trade Show Elite (2013) and Gourmet News’s Top 20 Under 40 (2006).

Green Market Report is a media partner of this event.

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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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