Mountain High Acquisitions Corp (OTCMKTS:MYHI) is a micro-cap player in the cannabis patch that’s clearly begun to spur some interest among players in the marketplace as shares bounce up off recent lows. The most recent catalyst is the company’s announcement that it has entered into an agreement with D9 Manufacturing, Inc., an Arizona-based company that offers a wide variety of engineering, manufacturing and consulting services to the cannabis sector.
According to the release, MYHI has engaged D9 to assist in the identification, acquisition, and development of infrastructure and technology opportunities in the burgeoning cannabis market. “To date we have primarily focused on businesses within the hemp and CBD nutraceutical space. However, this agreement with D9 will allow us to take advantage of opportunities in the broader cannabis space,” said MYHI CEO Alan Smith. “We see tremendous potential for growth as we expand to serve as a turnkey, cutting-edge infrastructure provider to licensed cannabis growers, processors and producers in regulated markets.”
Mountain High Acquisitions Corp (OTCMKTS:MYHI) trumpets itself as a company that focuses on the commercial hemp and CBD products industries.
A diversified holding company focused on the acquisition and development of businesses within the hemp and CBD nutraceutical sectors, the company’s wholly owned subsidiary, GreenLife BotaniX, Inc. (www.greenlifebotanix.com), is a California-based developer and marketer of the “SuperCBD” brand of CBD hemp oil infused nutraceutical products.
Freedom Seed and Feed, Inc., also a wholly-owned subsidiary of the Company, is an innovative Kentucky-based industrial hemp cultivation, processing, and marketing company. In 2014, Michael Lewis, COO of Freedom Seed and Feed, became the first federally permitted private citizen to farm hemp in the United States since 1937.
MYHI is based in Scottsdale, Arizona.
According to company materials, “Mountain High Acquisitions Corp. (MYHI) is a holding company focused on the acquisition and development of businesses and other assets within the cannabis sector.”
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As noted above, MYHI shares have recently exploded higher in action to close out last week following an announcement that the company has engaged an Arizona-based engineering specialist firm in the search for key opportunities as the company continues to expand its focus within the turnkey infrastructure side of the rapidly growing cannabis space.
According to the company’s most recent press release, MYHI plans to help licensed operators leverage scientific and technological innovations specifically geared to optimize the cultivation and processing of cannabis. That support will come in addition to assisting in the design, permitting, development and operation of scalable infrastructure,
So, in other words, the company wants to help produce cultivation facilities, but management wants this to bend from here in a direction that truly allows for the application of additional innovations. They want to keep glued to the cutting edge. That may be easier said than done, and could just be lip service. However, it’s a sentiment that may work for the company’s messaging.
Ferrel Raskin, CEO of D9 Manufacturing, Inc. added, “We look forward to bringing our expertise and connections to this relationship with MYHI. From real estate development to cultivation, extraction and manufacturing technologies, we have built a strong, well-rounded team that has been actively serving the expanding cannabis industry. We see a lot of new opportunities in this space every day—especially on the science and technology front. MYHI and its management team bring additional business acumen and an excellent financing vehicle to fuel these opportunities and bring them to fruition.”
Traders will note a bit less than 120% during the past week in terms of shareholder gains in the listing. This is emblematic of the stock. MYHI has evidenced sudden upward volatility on many prior occasions. What’s more, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 49% above its longer-run average levels.
Earning a current market cap value of $13.6M, MYHI has virtually no cash on the books, which must be weighed relative to about $618K in total current liabilities. The company is, for all intents and purposes, pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MYHI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!