One stock that has started to launch higher in recent action is Puration Inc (OTCMKTS:PURA). Helping to drive the action, the company just announced that it is setting its sights on breaking through the $1 million revenue benchmark in 2018. The market is apparently taking this statement seriously, as shares boomed over 60% higher on Thursday.
According to the release, “The company introduced EVERx CBD Sports Water last year, and it has become the leading cannabis beverage brand name in the sports nutrition marketplace. Distribution is growing rapidly. The company has just launched its first production run with its new labels to fill outstanding orders within new regions in the United States (and internationally). The company’s first THC infused beverage, THCSavor, is in the works and is expected to launch soon. The company also recently announced a pending acquisition to add yet a third cannabis beverage. According to a report by Brightfield Group, the hemp and CBD category alone is expected to be a $1 billion market by 2020 in the U.S.”
Puration Inc (OTCMKTS:PURA) bills itself as a company that has been a water purification company. PURA is involved in the design, development, engineering, production, marketing, and distribution of personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost-effective, affordable basis, with a minimum of environmental impact.
PURA operates a U.S. Patented Cannabis Extraction process and sells its extracts for infusion into a variety of consumer products to include beverages, foods, nutritional supplements, and cosmetics.
Resulting from their own design and engineering, the company’s water purification systems include personal water filter bottles, collapsible water pouches, replacement filters, and travel filters.
Puration introduced its EVERx CBD Infused Sports Water at Arnold Schwarzenegger’s Annual Arnold Sports Festival last year and is returning to the Arnold this year on March 1st to introduce its first two flavored waters: EVERx CBD Infused Kiwi-Strawberry Sports Water and EVERx CBD Infused Lemon-Lime Sports Water. EVERx Sports Water is built on two patents that together deliver a combination of characteristics that are unprecedented in the beverage industry. In addition to the benefits of its CBD infusions, EVERx Sports Water has an optimal alkaline pH level formulated with antioxidants and electrolytes to deliver the most effective hydration available in the alkaline water market.
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In addition to the announcement noted above, it’s also important to point out that, last week, PURA announced the spinoff of its cannabis cultivation business.
The chart shows nearly 330% during the past month in terms of shareholder gains in the listing. Moreover, the stock has seen interest climb, with an increase in recent trading volume of greater than 550% above its longer-run average levels.
According to the release, “The spinoff is part of the overall strategy for Puration to concentrate ongoing business development efforts on the company’s flourishing cannabis-infused beverage business. The spinoff announced last week has been effected through the execution of a securities exchange agreement with Nouveau Life Pharmaceuticals, Inc., (OTC: NOUV). PURA has sold its cannabis cultivation business in exchange for a convertible purchase note issued by NOUV. All of the NOUV common shares issued in conversion of the purchase note are slated for distribution to PURA shareholders in a dividend distribution following a recapitalization of NOUV.”
At this time, carrying a capital value in the market of $7.26M, PURA has a chunk ($150K) of cash on the books, which compares with about $929K in total current liabilities. PURA is pulling in trailing 12-month revenues of $768K. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 2.6%. We will update the story again as soon as further details emerge. Sign-up for continuing coverage on shares of $PURA 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 $PURA, either long or short, and we have not been compensated for this article.