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Thursday, October 29, 2020

UA MULTIMEDIA INC COM USD0.0005 (OTCMKTS:UAMM) Gets a Cannabis Bump

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UA MULTIMEDIA INC COM USD0.0005 (OTCMKTS:UAMM) is a penny player in the pick-and-shovel portion of the cannabis patch. The stock has been on fire so far in 2017. The company’s most recent catalyst is its announcement of the offering of advanced indoor horticultural grow stations. In this case, the company is referring to what amount to “fortified environments enhanced with state-of-the-art light emitting diode (LED) technologies for the strengthened prospect of healthy and robust harvests.” According to the release, the Company has already received a number of pre-orders and expects that fulfillment will be complete by the end of this quarter.

The action suggests thorough engagement among OTC traders: The chart shows 69% piled on for shareholders of the stock during the trailing month. This is emblematic of the stock. UAMM has evidenced sudden upward volatility on many prior occasions, though perhaps not to this degree in the past. Volume has been on the rise as well, as the stock has seen an influx in interest of late, with recent average trading volume running 22% over the long run average.

UA MULTIMEDIA INC COM USD0.0005 (OTCMKTS:UAMM) promulgates itself as a company formerly in the media holding space.

As of 2017, the company has redirected its focus towards providing solutions for the cannabis industry. Its products and services are targeted toward the area of technology, grow systems and consumer products.

According to company materials, “UA Multimedia, Inc., a former media company, has entered the cannabis industry with its offering of turnkey indoor grow stations and LED lights. All products will be available through its upcoming newly revamped websites, cannaxa.com and cannamedi.com. Cannaxa.com will serve as an online store selling grow related products, while Cannamedi.com will revolve around the medicinal and wellness sector.”

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As noted above, the company is throwing its hat in the ring as a competitor among outfitters of new cultivators in the cannabis space. As described in the company’s most recent release, “management has launched a promotional offering of $499.95 for the featured set-up, empowering interested patrons with an early incentive to get equipped with a cost-effective opportunity to employ an indoor grow system built for quality yields. The offer will remain available until the end of June. The system will be available for a retail price of $699.95 thereafter.”

Aside from the complete grow stations, the company also offers full spectrum LED lights. As the company notes, a single light can output 210 Watts or an HID equivalent of 400 Watts and can cover a 3′ x 3′ area. As we understand it, additional models will also be made available for purchase next quarter, which suggests a further expansion in this direction.

This is a recent change in strategy. Management has been outspoken on the shift of late.

“We are excited to be making steady progress toward being a key player in the cannabis industry. We strive to be well positioned by not only improving our capital structure through share retirement but to regain compliance with our filings as well as taking the next step to properly brand ourselves through the Company’s name and ticker changes,” stated Thu Pham, CEO of UA Multimedia. “We believe that the industry is at the cusp of significant growth and our company is in a good position to capitalize as the industry progressively matures.”

We would also note that the company has recently streamlined its cap table, announcing the retirement of 40 million shares of its Common stock on January 31. 2017.

According to the company’s recent release, concurrent effort is ongoing with the revamp of the Company’s two websites, Cannaxa.com and Cannamedi.com. “Cannaxa.com will serve as an e-commerce platform to sell grow stations, LED lights, hydroponics and other grow related products. The CannaMedi.com website will be revamped to provide information and sell health and wellness products produced with cannabis-derived ingredients.”

Currently trading at a market capitalization of $6M, UA Multimedia has virtually no cash on the books, which compares with about $207K in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $UAMM 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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