American Green Inc (OTCMKTS:ERBB) is a deep sub-penny stock that continues to see a lot of attention from OTC traders. The company is a tech play in the cannabis space that is benefiting from a recent announcement that it has produced a flexible new application that will allow the company to deliver information, share offers or rewards and gather data anonymously. As noted in the press release, the data will improve the release of its native app Xpress and its ability to serve clients in general.
Recent action has been mostly sideways, with ERBB stock up 1% during the past week in terms of shareholder gains in the stock, and down slightly over the past month. In addition, American Green has witnessed a pop in interest, as transaction volume levels have recently pushed 19% above the average volume levels in play in this stock over the longer term. Since we last covered the name, ERBB stock has moved 5.8%.
American Green Inc (OTCMKTS:ERBB) operates as a technology company in the medical cannabis industry in the United States.
It develops retail, brand, and commercial cultivating solutions in partnership with licensed retail medical marijuana dispensaries operated under the American Green brand name. The company operates ZaZZZ, a consumer operated marijuana vending machine for automated, age-verifying dispensing of cannabis-based medicines.
It also offers Jurassic Water for cannabis plants; truth lighting, a LED lighting solution; and OG tea nutrients, a specialty fertilizer product. It has collaboration agreement with Endexx Corporation to develop the Access Control Identification and Verification Vending Platform.
The company was formerly known as Tranzbyte Corporation and changed its name to American Green, Inc. in May 2014. American Green, Inc. is headquartered in Tempe, Arizona.
According to company materials, “American Green, Corp. became one of the first publicly traded technology companies in the medical cannabis industry in the world, beginning in 2009, with the introduction of the ZaZZZ machine for automated, age-verifying dispensing of cannabis-based medicines. Now, with over 50,000 individual shareholders, the largest shareholder base of any cannabis-related public company in the US, American Green’s mission is to be the cannabis & industrial hemp industry, seed-to sale innovator, leveraging our team of professionals, as well as value-added companies and products — spanning cultivation, manufacturing and extraction, retail, and community outreach. We strive to develop sustainable businesses, while increasing shareholder value, and awareness beyond our industries.”
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American Green’s new app can apparently be added, according to the company’s release, to a mobile phone screen exactly like something downloaded through the app store and can be shared through marketing initiatives or peer to peer. It enables the company to update content on the fly and through the interaction increase its knowledge of the market while communicating easily with large groups of people. The launch version features a survey of the cannabis market as a whole.
“We have always been a technology company serving the cannabis industry. We continue to participate where and how we can as directly as possible,” remarked David Gwyther, acting president and board chair. “By utilizing technologies like this, developing the ‘Ultimate AGM’ (American Green Machine) as a ‘better than human’ smart-vending solution for the sale of regulated products, and forming key strategic partnerships, the company will keep supporting the emerging cannabis sector. The platform we’re using for this app has great potential and already allows us to optimize the company’s ability to serve its customers and develop new revenue streams,” Mr. Gwyther concluded.
The company notes that the app will be regularly updated to feature new information, surveys, and product offerings. ERBB believes it’s part of a new era in digital commerce as connectivity increases and devices continue to saturate the population. Applying technological innovation to create new forms of revenue is at the company’s core.
At this time, carrying a capital value in the market of $10.9M, American Green Inc has virtually no cash on the books, which must be weighed relative to about $7.8M in total current liabilities. ERBB is pulling in trailing 12-month revenues of $120K. However, the company is seeing huge declines on the top line on a quarterly y/y basis, with revenues dropping to nil as of its latest financial report. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of ERBB stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!