Vet Online Supply Inc (OTCMKTS: VTNL) has re-balanced a little after its high last week. VTNL still stands up 300% over the last 30 days and the company has a nice two-prong approach to their product, where they can sell inside dispensaries and inside regular pet stores in legalized states. In this regard, the company recently signed a new contract with GCS Corporation, for the sale of PET CBD products in over 5,000 marijuana dispensaries along the west coast.
The GCS partnership builds on a parallel agreement VTNL signed with a California distributor in February. The agreement is for the placement of the company’s CBD Pet products in marijuana dispensaries across the state. VTNL has already inked a purchase order for 10,000 units for CBD Pet Drops and 7,000 units for CBD Pet Supplement. The exclusive agreement runs through February 2020. “We’ve been negotiating with a cannabis retail company to place our CBD Pet Products on the shelves in marijuana dispensaries. They have agreed to start placing the product in March-2018. We are expecting $3M in purchase orders for this sector of our market. We feel that a large majority of customers utilizing the marijuana dispensaries are also pet owners,” said CEO, Dan Rushford.
Vet Online Supply Inc (OTCMKTS: VTNL) describes itself as a US-based online retail reseller of premium veterinary supplies. The goal of “Vet Online Supply” is to provide the $38B industry with value priced, superior quality products.
VTNL sources our products through Concord Veterinary Supply. Concord, established in 1999, is now one of Canada’s largest, independent suppliers of veterinary surgical and dental instruments.
Vet Online Supply, Inc. engages in the sale of veterinary supplies for vet clinics. The company also offers various cannabis-based products, such as pet drops for the treatment of arthritis, compromised immune systems, stress responses, aggression, and digestive issues; and pet treats for pets. It sells its products through an ecommerce Web-based platform OsCommerce on its Website vetonlinesupply.com. The company was founded in 2014 and is headquartered in San Diego, California.
According to company materials, “Vet Online Supply Inc. is a small US-based online retail reseller of proprietary veterinary products. The goal of “Vet Online Supply” is to provide the $38B industry with value priced, superior quality products.“
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As we stated in a previous article, VTNL has seen some exciting traffic for their CBD pet drops and treats. They are making more products to appeal to more pet owners. Pet owners and vet products are a $38 billion market and VTNL is positioning itself for a big push in this new space.
Furthermore, the company has boosted the share price with buybacks. VTNL is hoping to jump to the NYSE and this part of that plan. “Dividend stocks are inflation resistant because as prices rise the profits of a company rise as well. Dividends are based on company profits, and we want our shareholders to benefit and support Vet Online Supply. We are approaching our revenue target sooner than anticipated, and this will assist us in expediting our plan, according to management,” said Mr. Rushford.
Vet Online Supply Inc (OTCMKTS: VTNL) has a market cap of 481.05k with a float of 71.15M. The 10 day volume is reaching over 450M and traders seem to be remaining bullish on this stock even after some volatility. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $VTNL 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 $VTNL, either long or short, and we have not been compensated for this article.