American Green Inc (OTCMKTS:ERBB) has not been able to string together a rally for some time. ERBB caught fire when they announced that they would be buying the town of Nipton as a cannabis capital hub in California’s upcoming legalization boom. The idea promoted even local news crews to interview ERBB and investors speculated on the forms of revenue a cannabis tourist capital could build – hotels, souvenirs, and more. But, ERBB has flatlined and saw heavy selling pressure throughout the colder months here.
In recent news, ERBB has worked out the details for its ZaZZ cannabis vending machines. The machines are now being reprogrammed and redesigned as American Green vending machines.
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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Here are some quotes from the vending machine news:
“There is definitely a future in vending marijuana successfully. Verified vending outside of licensed establishments will become a reality as state and federal regulations change. We have the experience and technology and will be ready to take advantage of those situations. In the meantime, we will rebrand the machines The American Green Machine and use them as custom delivery solutions in the dispensaries that we manage and others in our network that can carry American Green products. In line with our newly introduced custom packaging, these new machines will reflect the look and feel of our branding and message. Our goal is to stand out from other brands, drive revenues through consistency and value, and have The American Green Machine make an impact on consumer purchase decisions.”
ERBB has had a somewhat disappointing end to the year. Not sure how much could have been expected from this penny stock, but they definitely seem to be stalled. However, January is fast approaching.
Recreational marijuana sales in California are expected to begin first of the year. 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. By 2020, California’s total legal marijuana market is projected to grow to $6.45 billion, up from 2.81 billion in 2016.
So, all that said, this sour trend could all be turned on its head when California goes legal.
Now trading at a market capitalization of $27.47M, ERBB is already bidding people good night and hoping to come back strong in 2018. Nipton and its success will drive this stock and any other news is secondary to the creation of their cannabis Mecca. 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.