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Tuesday, October 20, 2020

Micro-Cap Update on Signal Bay Inc (OTCMKTS:SGBY)

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Signal Bay Inc (OTCMKTS:SGBY) is a micro-cap player in the services arm of the cannabis patch, providing an array of support and analytic services. The company recently announced that seven of its Maryland clients received Stage One license pre-approvals, more than a year after applications were submitted. The Maryland Medical Cannabis Commission named 102 dispensary entities last Friday who have each been awarded Stage One license pre-approvals from a total of 811 submitted.

The chart shows 7% during the past week in terms of shareholder gains in the name. Market participants may want to pay attention to this stock. SGBY has a track record that includes a number of dramatic bounces. What’s more, the stock has seen an influx in interest of late, with the stock’s recent average trading volume running 62% beyond its prior sustained average level.

Signal Bay Inc (OTCMKTS:SGBY) bills itself as a company that provides advisory, management, and analytical testing services to the legalized cannabis industry in the United States.

The company offers industry research; business and market intelligence; and advisory and consulting services, including license application support, regulatory compliance, market forecasts, and operational insights.

It also publishes industry information through online media, research reports, and publications; and operates CANNAiQ.com, a business to business information portal, as well as MarijuanaMath.com, a general interest informational Website.

In addition, the company provides Cannabis Consultant Marketplace, an outsourcing freelancing matching platform to enable cannabis companies to post projects and hire consultants.

Further, it provides operating services; and operates CR Labs, Inc., which offers analytical testing services, such as residual solvent analysis, pesticide screening, microbiological screening, terpene analysis, and cannabinoid potency profiling of cannabis and cannabis-infused products to growers, processors, and dispensaries.

According to company materials, “Signal Bay, Inc. is an Oregon-based Life Sciences company. Through its three subsidiaries: EVIO Labs, Signal Bay Research and Signal Bay Services; the Company provides research, consulting services, and analytical testing services to the legal cannabis industry. The Company’s EVIO Labs division operates state-of-the-art testing facilities and offers accredited testing methodologies performed by a qualified team of scientists to ensure the safety and quality of the nation’s cannabis supply.”

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Lori Glauser, company COO and head of the Signal Bay Services division stated “Seven of the eight clients who engaged Signal Bay Services are now proceeding with the final stages of the state licensing process.  Only two coveted licenses were available in each district and as many as 25 applications were received in each district and the competition was significant.

As noted in the recent release, Signal Bay anticipates assisting the applicants as they proceed with final licensing and move into the build and operations phase.  The company is already working closely with BluPharms, LLC, a dispensary that plans to operate near the University of Maryland.

Ms. Glauser continued “I cannot be more grateful to all of the Signal Bay staff and consultants who made this happen. Top notch professionals, including Dr. Alicia Wilbur, author of Medical Marijuana Desk Reference, and nearly a dozen other experts from across the country, worked around the clock on behalf of our clients during the very short window of application last year.”

Will Waldrop, CEO of Signal Bay Inc concluded, “While we have moved swiftly into the cannabis testing space during the past year with our expansion of EVIO Labs from Oregon and into California, we continue to provide consulting services to the industry, which complements the expansion of EVIO Labs.  Our consulting services are evolving and expanding from application and startup support to regulatory R&D, product formulation, and operational optimization.  While awaiting the results of the Maryland applications, we acquired 4 additional cannabis test labs in Oregon and California, and helped over a dozen Oregon companies attain cultivation, dispensary, and processing licenses.  Several of those consulting clients are now testing with EVIO.”

Earning a current market cap value of $18.2M, Signal Bay Inc has virtually no cash on the books, which is balanced by about $621K in total current liabilities. One should also note that debt has been growing over recent quarters. SGBY is pulling in trailing 12-month revenues of $500K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 1722.9%. We will update the story again soon as developments transpire. For continuing coverage on shares of $SGBY 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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