If you’re wondering what the latest explosion is on the OTC, then look no further than Cafe Serendipity Holdings Inc (OTCMKTS:CAFS). This newly developing cannabis patch play took off over 3,000% in the past 5 trading sessions, on an intraday price extreme basis. The only obvious catalyst around is the company’s announcement several days ago of the signing of an exclusive master license agreement for the state of Washington to rebrand medical marijuana dispensaries and retail marijuana stores in the state of Washington.
According to the release, “Our exclusive master license agreement gives the right to Two Worlds Consulting, LLC, a leading NYC advisory and investment firm serving the legal cannabis market throughout the US, to sign licensees throughout the state of Washington to brand Café Serendipity stores.”
Cafe Serendipity Holdings Inc (OTCMKTS:CAFS) bills itself as a development stage company that focuses on building upscale turnkey franchises to the recreational and medical marijuana industry in the United States.
It intends to market a product line of accessories, apparel, coffee and teas, bakery and other edibles, lotions, marijuana, and oils through a coast to coast franchise and dealer network to the recreational and the approximately 6,000 existing legal medical marijuana dispensaries. The company is headquartered in Henderson, Nevada.
Based in Henderson, Nevada, Café Serendipity Holdings, Inc. owns and operates Café Serendipity. The Company is a builder of upscale branded turnkey retail stores in the recreational adult use, and medical marijuana dispensary industry. The Company is marketing its unique brand through a coast to coast licensing network of Company approved stores and growers. The licensed stores and growers benefit from Café Serendipity’s brand.
Based in the scrappy lower east side of Manhattan, Two Worlds Consulting, LLC provides advisory and investment services to the cannabis industry throughout the U.S and Canada.
It recently concluded contracts for clients in Maryland and Washington state to assist in applications for Maryland dispensary, processing and cultivation licenses, including several involving horizontally integrated licensed IP and branding for dispensaries.
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As noted above, CAFS just announced the signing of an exclusive master license agreement for the state of Washington to rebrand medical marijuana dispensaries and retail marijuana stores in the state of Washington. In all, recent action has seen in excess of 1500% during the past month in terms of shareholder gains in the company. What’s more, the stock has registered increased average transaction volume recently, with the past month seeing nearly 1300% beyond what we have been seeing over the larger time frame.
This is particularly important given the stock’s very limited trading float of under 13 million shares.
“We expect to sign an additional exclusive master license agreement for Pennsylvania once the state has approved legal marijuana,” said Bob McNulty Chairman of Café Serendipity. “We also see e-commerce opportunities within the legal marijuana space that the company will be announcing in the next quarter.”
Earning a current market cap value of $2.3M, CAFS has virtually no cash on the books, which is balanced by about $3.4M in total current liabilities. CAFS is pulling in trailing 12-month revenues of $50K. However, the company is seeing recent stagnation on the top-line on a sequential quarterly basis, with revenues falling flat as of its latest reporting period. We will update the story again as soon as further details emerge. Sign-up for continuing coverage on shares of $CAFS 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 $CAFS, either long or short, and we have not been compensated for this article.