American Green Inc (OTCMKTS:ERBB) is a penny stock in the cannabis space that has started to garner attention as the stock bounces up the chart. Volume has exploded over recent days with no obvious catalyst or cause. As far as recent press, the company announced about a month ago that its proprietary verified vending system, which includes the American Green Machine (AGM) or ‘The Ultimate AGM’, will make its public debut at ‘The One Show’ (http://www.namaoneshow.org) in Las Vegas, April 19-21.
According to the release, the show, organized by the National Automatic Merchandising Association (NAMA), is the premier industry event and includes the largest manufacturers and vendors in the country. Traders should note that we are drawing ever closer to the debut. This may be fueling increased interest in the stock, particularly if the market is getting a whiff of things to come.
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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As noted above, ERBB shares have been popping on increased volume in recent days as we approach the debut of the company’s proprietary verified vending system in Las Vegas next month.
“American Green and our technology partner, PanPacific, have been working non-stop to improve this process for over four years now. The adoption of smart phones, familiarity with apps on those phones, and improvement in related vending technologies have now merged with a concept that the public could easily grasp before but are much more prepared to use now,” said David Gwyther, chairman and acting president at American Green. “Creating a process that allows flexibility in the machine selected by clients yet permitting verified accounts to login to the machines of any companies who choose to participate will grow adoption faster and simplify use by all parties. A baseball fan could buy a beer at the game in New York and cannabis from a dispensary in California the next day through the same app utilizing their verified account. This is a huge step forward for smart retail and the automated sale of regulated products,” Mr. Gwyther concluded.
The chart shows 36% piled on for shareholders of the listing during the trailing week. Market participants may want to pay attention to this stock. ERBB is a stock who’s past is littered with sudden rips. In addition, the stock has seen an influx in interest of late, with the stock’s recent average trading volume running 60% above its longer run average levels.
Now commanding a market cap of $21.6M, ERBB has a stash ($212K) of cash on the books, which is balanced by about $7.7M in total current liabilities. ERBB is pulling in trailing 12-month revenues of $13K. We will certainly be following up on this story as the stock’s action dictates, or if we get more information about the upcoming product debut. 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!