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Argitek Holdings Inc (OTCMKTS:AGTK) To Focus On Acquisition, Revenues & Profitability In 2018

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Argitek Holdings Inc (OTCMKTS:AGTK) recently revealed that in 2018, the company’s main focus will be the acquisition, revenues, and profitability. The fully integrated company serving as a consultant for multiple brands of cannabis revealed the information during the announcement related to the Company’s timely filing of its 10Q for the Quarter ending on March 31, 2018. Also, the company said that it is expecting to receive final approval of its Hemp research application soon.

Agritek Planning To Improve Presence In Colorado’s Cannabis Sector  

Once Agritek receives the approval, it will immediately start planting in its 80-acre property in Colorado’s Pueblo. The company aims to improve its presence in Colorado’s cannabis sector. And one of the major reasons is the recent ground-breaking deal negotiated by President Donald Trump and the Senator of Colorado, Coy Gardner on behalf of Legalized Marijuana. The advancements in the national cannabis legislation ensure positive changes in the cannabis market of Colorado and Agritek wants to be one of the first companies to reap benefits from it.

The company owns mineral and water rights of the 80 acres Pueblo property and hence the moment it gets the approval, it will fund its partners so that they can start planning in the first acres.

Agritek Focus On Reducing Toxic Debt And Move Forward

The first quarter result of this year shows that Agritek has focused mostly on reducing toxic debt so that it can move ahead with its newly developed plans for generating revenues. As per the report, the company has managed to embark successfully on its plan to become free of the burden of debt by reducing its liabilities considerably and retiring and consolidating its old convertible debt repayments substantially. The company also managed to increase equity infusions. According to the CEO of Agritek Holdings Inc, B. Michael Friedman, “With Agritek Holdings’ multiple equity investments in Colorado, Puerto Rico, Washington State and California, we can now turn our attention to the numerous revenue-generating projects the Company has initiated from the funding phase to now entering the post-licensing and production phases.” He further added that the new industrial Hemp farm in Colorado will start production in the coming month. Simultaneously, the company will continue selling its CBD product lines through its new distribution channels such as e-commerce sites and retail stores.

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