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Can Namaste Technologies Inc (OTCMKTS:NXTTF) Turn Water Into Wine?

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A stock that continues to interest us as it fights for support is Namaste Technologies Inc (OTCMKTS:NXTTF). The driving interest there is based on the premise that the stock has suffered a dramatic plague of worry and “FUD” and selling that has been driven by concerns over its attack by Citron Research back in September. That opens up a potential opportunity if this has caused an artificial pricing discrepancy. To make matters more interesting, the company just announced the launch of its Craft Cannabis Program with its preferred regulatory partners, Cannabis Compliance Inc.

According to the release, “The program is intended to provide support for craft cultivators who will apply for a micro-cultivator or micro-processor license under the Cannabis Act. Namaste’s wholly-owned subsidiary, Cannmart Inc. has initiated a program that offers both regulatory and financial support to Micro Cultivators in exchange for a Supply Agreement with the right of first refusal on 100% of their production. Cannmart will launch a Craft Cannabis section on its website that will offer patients access to a large variety of premium-quality cannabis products sourced from small-batch producers.”

Namaste Technologies Inc (OTCMKTS:NXTTF) promulgates itself an emerging leader in vaporizer and accessories space. Namaste has 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution.

NXTTF is currently focused on expanding its product offering, acquisitions, and strategic partnerships, and entering new markets globally.

According to company materials, “Namaste Technologies is Your Everything Cannabis Store. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada. Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.”

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As noted above, NXTTF just announced the launch of its Craft Cannabis Program with its preferred regulatory partners, Cannabis Compliance Inc. In all, the chart shows a bit less than -10% stripped out of shares for shareholders of the stock during the trailing week.

Furthermore, the company has benefitted from a jump in recent trading volume to the tune of 19% over what the stock has registered over the longer term.

Sean Dollinger, President, and CEO of Namaste comments: “We’re very excited about this initiative. We hosted an event in Nelson, BC recently which was very successful and we’re expecting more Supply Agreements from some of these craft growers over the next few weeks. Our platform provides great exposure for smaller growers which are not looking to have their products white labeled and sold through wholesale channels. Cannmart’s platform is direct-to-consumer which means that we can offer fair pricing for craft growers, a new sales channel, and by providing financial support for their Micro Cultivator applications, we are securing a guaranteed supply of premium quality craft cannabis for our future.

Earning a current market cap value of $334.49M, NXTTF has a stash ($471K) of cash on the books, which stands against about $1.1M in total current liabilities. One should also note that debt has been growing over recent quarters. NXTTF is pulling in trailing 12-month revenues of $5.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 173.1%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $NXTTF 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 $NXTTF, either long or short, and we have not been compensated for this article.

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