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Tuesday, October 20, 2020

The Rapid Emergence of Medicine Man Technologies Inc (OTCMKTS:MDCL)

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Medicine Man Technologies Inc (OTCMKTS:MDCL) has been advancing nicely as traders digest the impact of the company’s new 8K clarifying a few key points, including major progress with two key recent acquisitions as well as the signage of ten new clients in October. This is a strong narrative to be lugging into the end of the month as the “referendum on Pot” quickly approaches on November 8 – when over 30% of the US population will be determining the future of marijuana legislation across 9 states.

Traders will note 65% during the past month in terms of shareholder gains in the stock. Market participants may want to pay close attention to this one. The space is red hot, and there seems to be a number of indications that the press on this name could get more aggressive into the votes. Since operations here are directly impacted by legislation on production, it may be highly leveraged to the result.

Medicine Man Technologies Inc (OTCMKTS:MDCL) bills itself as a company that provides cultivation consulting services for cannabis growing technologies and methodologies. It also engages in retail operations of cannabis products.

Established in March 2014, the Company secured its first client/licensee in April 2014. To date, they have provided guidance for several clients that have successfully secured licenses to operate cannabis businesses within their state. They currently have twenty-four active clients in 13 states, focusing on working with licensees and clients to 1 SEC).

The company was founded in 2014 and is based in Denver, Colorado.

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As noted above, the company announced late last week that it has added eight new licensing clients in October including five in Pennsylvania, two in Puerto Rico, and one in Florida. It further noted the addition of two clients in California under its new Cultivation MAX services product bringing the total new clients added in October to ten.

The announcement came via an 8K filing that also noted a status update on its previously announced acquisitions as well as a successful funding initiative close as described herein.

Brett Roper, the Company’s Co-Founder noted, “We are continuing to grow our existing client base and are very pleased to add these new groups to our existing clients in Arizona, California, Florida, Maryland, Nevada, Oregon, Ohio, Oklahoma, Ohio, Pennsylvania, Texas, and Puerto Rico.”

The filing also updated the status of its recent deals, including the initiative to acquire Pono Publications Ltd. and Success Nutrients, Inc. , both Colorado corporations, in consideration for the issuance of an aggregate of 7 million shares of our common stock.

“While we continue to negotiate the terms of a definitive agreement with Pono and SNI, and complete due diligence efforts, on Oct. 18, 2016, we executed an Interim Products and Services Support Agreement with both companies . This Interim Agreement is intended to act as a “bridge” to allow us to work with both Pono and SNI to perpetuate our respective business plans and take advantage of our respective synergies during the time the definitive agreements are being completed. Through this agreement we will share net revenues with Pono and SNI, as applicable and expect to also benefit from the anticipated generation of new clients, and sharing of intellectual property.”

Andy Williams, the Company’s CEO and Co-Founder added, “As we work to wrap up these synergistic acquisitions, we will continue to search for growth opportunities that will help expand our value proposition to our clients and partners and to add new lines of revenue through products and services that drive the evolution of the cannabis industry. We will continue to focus on building our brands warehouse to offer a more efficient delivery of marketing and corporate services. This November’s election will mark the latest opportunity for the cannabis industry to expand into new states and create further opportunities for Medicine Man Technologies to help them do it.”

Earning a current market cap value of $28.3M, MDCL has virtually no cash on the books, in a pool of total assets just shy of $300K, which compares with de minimus total accumulated debt. MDCL has evidenced sudden upward volatility on many prior occasions. In addition, the company has seen interest climb, with an increase in recent trading volume of nearly 930% above its longer run average levels. This is particularly important with a float in play that’s extremely small — of roughly 10 mln shares. This type of thing is something to watch out for: ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices. For continuing coverage on $MDCL stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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