Phoenix, Arizona / Newsfile Corp. / November 18, 2020/ The Stock Day Podcast welcomed American Cannabis Company, Inc. (AMMJ) (“the Company”), a company that offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. CEO of the Company, Terry Buffalo, joined Stock Day host Everett Jolly.
Jolly began the interview by commenting on a recent press release detailing the Company’s operator’s license approval by Colorado’s Marijuana Enforcement Division (MED), as well as their approval for suitability. “Up until this time last year, in the state of Colorado a public company could not own a plant-touching business,” explained Buffalo, noting that this rule was changed in January of 2020. “So, we as a public company went through suitability where we are approved to actually own a plant-touching business in the state of Colorado,” he continued. “We’re very excited and we’re exploring multiple opportunities in this state.”
“The operator’s license is an interesting nuance because it allows us to operate a facility without actually owning the license,” said Buffalo. “It really helps us go after our new cultivation management that we’re currently rolling out,” he said. “We’re excited to have both of those because we’re looking for ongoing recurring revenue and that will help us accomplish our goals.”
Jolly then asked about the Company’s revenue projections moving forward. Buffalo shared that the COVID-19 pandemic significantly reduced their consulting revenues, however revenues from their products have increased to make up 66% of their sales.
“We’re getting close to 100 retail stores across the US, we have distribution in the UK now, and we are looking to get back into the Canadian market,” shared Buffalo. “As we acquire opportunities here in the Colorado market, we’ll be using and promoting our own brand for the grow, dispensary, and manufacturing operations we’re looking to acquire.”
“How will the elections affect your business moving forward?” asked Jolly. “After COVID hit, it really took away our front-end business applications,” explained Buffalo. “With these five states now coming on, we are seeing a lot more leads coming into our pipeline. So, hopefully we’ll be able to continue offering additional services in those markets, and look to expand the American Cannabis name in markets that are friendly to public companies.”
“Is there anything new in services or products for American Cannabis Company right now?” asked Jolly. Buffalo shared that the Company is starting to receive interest for their cultivation management services, and has also been developing a cannabis client accounting and bookkeeping division. “We found that a lot of local accountants that are doing the books for these ventures and growth facilities really don’t understand 280E,” explained Buffalo, adding that the accounting division will help solve this issue. “We have also done a lot of upgrades to our Cultivation Cube,” shared Buffalo. “In SoHum in general, we are continuing to work on additional products,” he added, noting that this process takes several months of R&D before new products can be released.
To close the interview, Buffalo shared that the Company will continue to grow primarily through acquisitions over the next two quarters. “It’s time for American Cannabis Company, now that we have the ability with the laws changing, to fulfill and really branch out our brand,” said Buffalo. “Going forward as we’re able to make these acquisitions, knowing what we know best, and being able to increase efficiencies, we’ll be able to bring some topline gross numbers but also have a profitable number,” said Buffalo. “We’re looking at being very methodical as we look at these acquisitions to make sure that it will be able to bring value to our shareholders.”
To hear Terry Buffalo’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/7732786-american-cannabis-company-discusses-approval-of-operator-s-license-and-suitability-from-the-color
To see more products from AMMJ click video links below:
The Cultivation Cube: https://www.youtube.com/watch?v=e9rNxFph_tQ&t=63s
HDCS: https://www.youtube.com/watch?v=aENC4aeNZis
SoHum Soils: https://www.youtube.com/watch?v=XoIcopO2yE8
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About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. We are continuing to grow the Company by promoting our operational management services, and license the American Cannabis Company brand, as well as continuing to analyze acquisition opportunities worldwide. American Cannabis Company also developed and owns a portfolio of branded products including: SoHum Living Soils® – Winner of the High Times S.T.A.S.H Award for “Best Potting Mix”, The Cultivation Cube™ and the High-Density Cultivation System™. We also design and provide other industry specific custom product solutions.