American Green Inc (OTCMKTS:ERBB) has been stuck in the doldrums. Volume is weak and ERBB is facing constant selling pressure. ERBB headquarters has been quiet and not making any positive moves they need to, at a minimum, throw investors a bone with a press release.
ERBB is making the first of its kind cannabis tourist attractions or better yet the first town devoted solely to marijuana. While that was exciting when it launched and even made national news, ERBB has since listed its gloss and now is all but forgotten in the churn of the markets and the skyrocketing cryptocurrency sector.
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 a 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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We expect that the company will wise up to the fact that their stock is plummeting sometime soon – hopefully. What will probably follow is an update on Nipton and where the project stands. One could see a viable reason that having a town full of marijuana sale opportunities would be a revenues gold mine – t-shirts, hotels, advertising – just to name a few. But, actually getting this thing to the finish line may be hard to achieve for a company with little cash on hand.
“The Nipton Project has the potential to be one of the biggest initiatives any of us at American Green have undertaken. The project holds great possibilities for our company and for the cannabis industry as a whole,” says Pat Carrigan, Chief Operating Officer at American Green. “It took the company over 4 months of negotiation with the town’s owners to get us here. Even so, the real work begins now. We are ready, willing, and able to accept the challenge at hand.”
Now trading at a market capitalization of $17.46M, ERBB is a stock to watch as news comes out, but they have seriously put most of us to sleep here. ERBB will go where Nipton goes. If the leadership of the company can execute their vision, then there will be value. If not, well, then steer clear. Without a doubt, 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.