MMNFF - The Daily Buzz: Looking for Action in Small Caps this Week? (SRNA CURLF MMNFF)
Surna Inc (OTCMKTS:SRNA) shares have been launching higher in recent weeks, nearly quadrupling since August 7. The big catalyst driving the action is news that the company recently announced that, during the first half of 2019, it entered into five $1,000,000 sales contracts, with an aggregate value of $10.3 million. Three of these contracts, having an aggregate value of $6.5 million, were with a single multi-facility operator for a retrofit project and a two-phase facility expansion.
During the first half of 2019, the company recognized revenue of $2,627,000 on these three contracts, with the remaining value of these contracts expected to be recognized in Q3 2019.
Surna Inc (OTCMKTS:SRNA) promulgates itself as a company that designs, engineers and manufactures application-specific environmental control and air sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities in the U.S. and Canada.
Its engineering and technical team provides energy and water efficient solutions that allow growers to meet the unique demands of a cannabis cultivation environment through precise temperature, humidity, and process controls and to satisfy the evolving code and regulatory requirements being imposed at the state, provincial and local levels.
Headquartered in Boulder, Colorado, the company leverages its experience in this sector of the overall cannabis cultivation industry in order to bring value-added climate control solutions to its customers that help improve their overall crop quality and yield as well as optimize the resource efficiency of their controlled environment (i.e., indoor and sealed greenhouses) cultivation facilities.
It has been involved in consulting, equipment sales and/or full-scale design for over 800 grow facilities since 2006 making it a trusted resource for indoor environmental design and control management for the cannabis industry.
Curaleaf Holdings Inc (OTCMKTS:CURLF)just announced that it has launched an initiative with the Veterans Cannabis Project (VCP), an organization that advocates for legal and supported access of medical cannabis for veterans through the Department of Veterans Affairs, in Oregon.
While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action CURLF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -5% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities.
Curaleaf Holdings Inc (OTCMKTS:CURLF) pulled in sales of $46.9M in its last reported quarterly financials, representing top line growth of 11%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($230.6M against $34.9M).
According to the release, customers can now purchase a custom-designed Veterans Cannabis Project pre-roll product, with a portion of all proceeds benefiting the VCP. Each box includes five pre-rolls (total of 2.5 grams) of UKU flower – one of Oregon’s top selling flower brands – and will be available for $13. Images can be downloaded here. “Raising awareness of veterans’ access to cannabis is an important issue for Curaleaf,” said Tim Fitzpatrick, President of Curaleaf Oregon. “Curaleaf can play an important role by educating veterans and consumers on how cannabis may be of great benefit for veterans. We are proud to be able to support our veterans as they look to improve their quality of life.”
Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.
The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.
Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.
Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.
Medmen Enterprises Inc (OTCMKTS:MMNFF)operates in the cannabis space in the United States. We would have this one on the radar as a possible bottoming candidate at present.
After a period of lagging action, shares of the stock popped higher early last week on news that the company launched of statewide delivery service in California, bringing the Company’s industry-leading retail experience to the consumer at home. According to the release, “with over 400 products, MedMen’s new delivery service is the most robust of its kind. The company will initially focus on California, where it has 17 retail locations, and expects a nationwide expansion in the near future.“
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.