American Green Inc (OTCMKTS:ERBB) is coming off strong revenue gains and some headlines that brought attention from many media outlets. If you are not familiar, ERBB announced in September that it had bought a town, Nipton, California, to turn it into a marijuana tourism destination.
Recreational marijuana sales in California are expected to begin next January. According to market studies by New Frontier Data and ArcView Market Research, recreational marijuana sales will add $1.5 billion to California’s legal marijuana economy in 2018. The plan that ERBB has for Nipton is to modernize it and transform into a marijuana hospitality destination that will draw visitors from across the US and from abroad. Monetizing the place could present some interesting and unique growth opportunities for ERBB and many traders are starting to see the possibilities.
American Green Inc (OTCMKTS:ERBB) operates as a technology company in the medical cannabis industry in the United States.
ERBB 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. ERBB 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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“The [idea] here isn’t to create ‘Woodstock 2017,'” Stephen Shearin said, a consultant working for ERBB. “It’s about creating an environment where people come to work and share in a community.”
Construction on infrastructure begins immediately, but the process of setting up the first legal marijuana cultivation site in Nipton may be years out.
The company has continued to release press regarding Nipton in hopes of keeping the buzz alive as it starts along the long road to realization. ERBB is bound for ups and down and they may ride the press releases the company churns out along the way.
Now trading at a market capitalization of $24.74M, ERBB is a stock in the space that could be seeing some interesting dividends down the road. Investors and those interested in the sector should be tracking the company’s progress at Nipton and watching how the company’s bottom line looks. Sign-up for continuing coverage on shares of $ERBB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $ERBB, either long or short, and we have not been compensated for this article.