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Why Medmen Enterprises Inc (OTCMKTS:MMNFF) Could be Set to Rip

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Medmen Enterprises Inc (OTCMKTS:MMNFF) has been beaten down soundly over the past 6 weeks. The stock continues to set up very well from the standpoint of a move in US legislation. We see it as something like an option bet on US legalization with some serious potential pop. The company has set up strong operations in a footprint almost entirely south of the border.

If you’re looking for the catalyst to get it juiced up again, the company reported fiscal Q1 (2019) data on Thursday, announcing systemwide sales revenue of $21.5 million up 1,094% from first quarter fiscal 2018 and 4.4% from fourth quarter 2018; an annualized sales per square foot of $6,188 across eight stores in Southern California with an 82% conversion rate; and, according to recently published figures by the California Bureau of Cannabis Control, MedMen stores accounted for approximately 5.3% of all legal retail cannabis and cannabis product sales in the state.

Medmen Enterprises Inc (OTCMKTS:MMNFF), together with its subsidiaries, operates in the cannabis space in the United States.

MMNFF, more broadly, is a leading cannabis company in the U.S. with assets and operations across the country. Based in Los Angeles, MedMen brings expertise and capital to the cannabis industry and is one of the nation’s largest financial supporters of progressive marijuana laws.

The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. As of June 6, 2018, it owned and operated 18 licensed cannabis facilities under the MedMen brand name in California, Nevada, and New York.

The company frames itself as “the preeminent cannabis company in the United States” with multiple assets and operations in California, Nevada, New York, and Florida. MedMen owns and operates licensed cannabis facilities in cultivation, manufacturing, and retail, and is one of the most well-recognized cannabis brands in the world today.

Headquartered in Los Angeles, MedMen employs more than 800 workers across the United States. It was founded in 2010 by Adam Bierman and Andrew Modlin, two visionary entrepreneurs who saw not just a tremendous business opportunity in the growing legalization of marijuana, but a chance to re-define our society’s relationship with cannabis. MedMen supports sensible, clear and just drug laws.

The Company is the single largest financial supporter of progressive marijuana laws at the local, state and federal levels, giving directly to pro-legalization groups, industry organizations and political candidates.

The company is headquartered in Culver City, California. MedMen Enterprises Inc. is a subsidiary of The Medmen Of Nevada 2 Llc.

Moreover, the company operates as a cannabis company in the United States. The company cultivates, produces, possesses, uses, and distributes/retails cannabis in the recreational and medicinal cannabis marketplace. It owns and operates 19 licensed facilities in California, Florida, Nevada, and New York. The company is headquartered in Culver City, California.

 

Monster Growth

We started off by noting that MMNFF just hit the wires with the announcement of the company’s quarterly numbers on Thursday. The big key here is the massive y/y top-line growth (over 1000% growth). If you pair this with the massive potential upside of a positive turn in federal legislation around cannabis in the US, you have an all-star play here.

This data, while obviously helpful, figures into a tape that has been defined by some heavy action, with shares of MMNFF dealing with some pressure, but coming back on the news to close the last five days more or less flat. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -23%.

“Our first quarter performance underlines the successful execution of our growth strategy and ongoing commitment to provide mainstream cannabis consumers a wide breadth of products for their lifestyle and wellness needs,” said Adam Bierman, MedMen chief executive and co-founder. “Our four-pillars strategy – built around a quality team, superior assets, strong balance sheet and the ability to efficiently and effectively raise and deploy capital – has set us up to successfully achieve our vision. We are now entering a new phase focused on fully operationalizing our vast footprint.”

Medmen Enterprises Inc (OTCMKTS:MMNFF) as about $12.2M in cash on the books against to a mountain of over $86M in total current liabilities. The company has been pulling in significant revenues, with over $7M in Q1 of this year, representing over 630% quarterly y/y growth on the top line.

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First Foods Group Inc (OTCMKTS:FIFG) Unveils Its “Southeast Edibles” New Product Line

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First Foods Group Inc (OTCMKTS:FIFG) today disclosed details about the unveiling of its latest product called “Southeast Edibles.” This is a hemp-based premium chocolate product line and one of the company’s innovations. The business guru wants to make the product available for all the interested consumers.

First Foods and it’s business focus

First, Foods happens to be one of those companies that have been looking forward to the legalization of hemp-based products. The company has a production facility in Florida where it has been working on its chocolate edibles recipes. It has been engaging in this activity from March this year.

First Foods Group hopes that with time, it will rise to take over the market leadership. An official says that they won’t stop until they have the entire nationwide chocolate edibles market to themselves.

The business started strategizing on its success since July 1, 2019. This was the time when the governor of Florida went ahead to legalize hemp-based products. First Foods reacted promptly by unveiling its Southeast Edibles brand on August 9, 2019.

The deal with CBD Unlimited

The Company also engaged CBD Unlimited, and the two signed a letter of intent. CBD Unlimited happens to be researchers and also a top distributor of a wide array of CBD products. These products, according to it have been designed scientifically and the tests show that they should be administered in accurate dosages.

The CEO who is also the Chairman of the company Todd Davis opines, “First Food Group is a creative and emerging brand that will help drive our consumable product category as the growth of the CBD marketplace is accelerating rapidly.”

The company has been seeking to collaborate with a successful management team. The latest collaboration is a major step forward. They intend to continue supporting initiatives for targeting serving customers with great products.

The CEO & Chairman of First Foods Group Harold L. Kestenbaum believes it is crucial to vet the right partners. According to him, appropriate and befitting partners define the success levels they reach. He adds that they will also continue focusing on their marketing strategy and make enhancements.

CBD has a loyal customer base, an Unlimited’s scientific approach, and vast market access. These attributes make it an ideal partner for the company.

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General Cannabis Corp (OTCMKTS:CANN) Plans To Acquire A Denver Vertically Integrated Cultivator And Retailer

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General Cannabis Corp (OTCMKTS:CANN) is pleased to announce that it will soon make its latest acquisition. However, it first needs to make its entry into a non-binding term sheet. The target is to acquire a huge deal of assets belonging to one Colorado-based licensed recreational cannabis cultivator.

About the business deal

This Colorado business has been running some two indoor cultivation facilities. Asides from that, it has also been operating a retail cannabis dispensary which is situated in central Denver. This dispensary has risen to become one of the most trusted and successful dispensaries in Denver. Nevertheless, it prides itself in being the holder of a library of world-class cannabis genetics.

The Company has already signed the Colorado House Bill 1090 (“HB-1090”). Probably, this is the reason behind the latest activities the company has been undertaking. This law gives a leeway for the interested companies to acquire licensed cannabis companies in Colorado. The approval by the law might witness more companies follow suit in making these acquisitions.

Currently, the parties in charge are working on the various regulations in line with the implementation of the law. When finalized, the business giant reveals that it won’t hesitate in entering the binding transaction for the Business.

Focus into the future

General Cannabis has revealed its plan to purchase the Company’s common stock. These will include the company’s tangible and intangible assets. The business guru expects to pay 40% in terms of shares and sixty percent in form of cash. Focus will at some point shift to the number of common shares issued at closing. In this case, the determination will take into account the 30-day volume weighted average price.

The General Cannabis Chief Executive Officer and Executive Chairman Michael Feinsod expressed his excitement in the latest developments. He said that the acquisition of the third licensed Colorado cannabis operator was a major step forward for them. The official looks forward to the company expanding its business to central Denver. According to him, the planned move will show their dedication to an expansion strategy.

General Cannabis is set to also expand its customer base by a significant margin if all moves according to plan.

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Leafbuyer Technologies Inc (OTCMKTS:LBUY) To Create A Mobile App With Blockchain Capabilities

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Leafbuyer Technologies Inc (OTCMKTS:LBUY) today spoke at length regarding the development of a new mobile application. The company spent several months in the creation of the all-encompassing application. One top official working with the business says that they will soon give a Press release regarding the latest move.

The application

The uniqueness of the application lies in how it manages to merge the various aspects of functionality. These include Leafbuyer’s search technology and the current deals. The business guru has also designed some blockchain wallet capabilities. The purpose is to ensure that the company’s loyal customers get the most from the move.

The CEO of Leafbuyer Kurt Rossner opines, “Leafbuyer provides multiple technology solutions to help businesses in the cannabis industry to attract and retain consumers. The integration of blockchain technology within the mobile application will boost transparency and provide accessible information regarding transactions and loyalty points.”

Leafbuyer says that the hosting of its wide range of products on multiple platforms will see it generate high profits. The tablets at participating dispensaries, the Leafbuyer app, and the Greenlight app are all remarkable platforms according to analysts.

This new application is all about centralizing the experience of the various consumers. Soon, the application will be distributed via the iOS App Store and the progressive web application (PWA).

Views about the future

The COO of Leafbuyer, Mark Breen, has spoken in relation to the much-awaited rollout. The official says that they look forward to seeing their consumers interact much more easily with clients. According to him, the ongoing efforts on the connection develop a good reputation for the company. Sooner or later, Leafbuyer will become very important for product company clients and dispensaries across the country.

Most of the consumers are looking forward to the completion of this app. They say that it will make it a lot easier for them to search for deals and businesses. The other services they will enjoy include the ordering of their favorite products as well as getting other items delivered. Those consumers that need to keep track of their loyalty points will do it more easily.

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Trading Symbol

OTC: PLSI

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