As we have noted in our past posts, we see OrganiGram Holdings Inc (OTCMKTS:OGRMF) as a true leading play in the cannabis patch with the potential to IPO on US exchanges in the footsteps of CGC, ACB, and APHA. As we see it, the market appears to be in agreement, with shares launching higher on a daily basis, now bringing the key $7.50/share level back into play. To further flesh out the story, the company just announced the release of a cross-platform patient-focused mobile application.
According to the release, “the application was designed to offer patients greater convenience in optimizing their medication regimen and stay up-to-date on products, programs and Company news. Through this new Application, registered patients are able to order medical cannabis products and accessories, manage their patient profile, view past orders and order limits, read the latest Organigram news and press releases, and communicate with Client Care representatives.”
OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts itself as a company that produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis.
The company sells its products through phone and online store. It also operates healing centers that offer treatments for post-traumatic stress disorders, chronic pain, and trauma therapy. In addition, the company exports its products.
OrganiGram Holdings Inc. was founded in 2013 and is based in Moncton, Canada.
Moreover, OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada. OrganiGram is focused on producing the highest quality, condition-specific medical marijuana for patients in Canada.
OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.
According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”
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As noted above, OGRMF just announced the release of a cross-platform patient-focused mobile application. Recent action has seen 15% tacked on to share pricing for the stock in the past month. In addition, the company has registered increased average transaction volume recently, with the past month seeing 9% beyond its prior sustained average level.
“When it comes to managing their medication, patients have indicated to us that convenience and ease are important to them. This new tool gives patients greater ease of control over their wellness plans,” says Organigram CEO Greg Engel.
At this time, carrying a capital value in the market of $1.07B, OGRMF has a significant war chest ($95.9M) of cash on the books, which is balanced by about $15.8M in total current liabilities. One should also note that debt has been growing over recent quarters. OGRMF is pulling in trailing 12-month revenues of $23.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 363%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $OGRMF 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 $OGRMF, either long or short, and we have not been compensated for this article.