There are some interesting new theories and models entering the equation in the high-growth market segments like cannabis, including Global Consortium, Inc. (OTCMKTS:GCGX). Shares of the stock have roared back to life in recent days following reports that the company just announced Phase One of its Cannabis Mall is open. This is the main gambit the company has put forth to the market, and it’s hardly uninteresting.
According to the release, “The City completed and passed the final inspection on October 11, 2019, with all the inspections passed a Certificate of Occupancy will be issued. The issuance of the CO for Cannabis Manufacturing is the 3rd manufacturing CO to be issued in Sacramento and the first for manufacturing using Co2. There have been approximately 40 other companies in Sacramento that have failed to obtain a CO and went out of business during this time.”
Global Consortium, Inc. (OTCMKTS:GCGX) trumpets itself as a company that operates as a diversified cannabis holding company in Florida. It focuses on operating a cannabis mall that engages in cultivation, manufacturing, distribution, and delivery of THC and CBD distillates and edibles. The company is based in Coconut Creek, Florida.
Global Consortium, Inc recently completed a merger acquiring multiple companies in the Cannabis space. The companies acquired are Infused Edibles, Indulge Oils and a Hemp farm in CO. Infused Edibles has 140 food items it infuses with US grown CBD Isolate. This is believed to be the largest amount of products produced by a single infused producer, winning over 17 first place awards. Infused Edibles operates out of a 6,000 square foot building, servicing 400 stores with 9 sales reps and 8 distributors in 15 states, Indulge Oils is a premium “pesticide free” product sought after brand as it is known for its purity and high quality.
Their premium oil is in such high demand in the cannabis oil market it has been sought out by some of the largest names in the cannabis industry for private labeling. The CO Hemp is a 15 acre test, that will begin harvesting in the end of October to be sold in November.
According to company materials, “Global Consortium, Inc., is building America’s First Cannabis Mall in Sacramento, CA which when completed will house Manufacturing, Distribution, Delivery, Retail, Testing, and Cultivation all under one 64,000 square foot building. The Mall will house the largest Manufacturing facility of THC and CBD Distillate and Edibles believed to be operational in the United States. Global Consortium has leased 25,000 Square feet of the building with a purchase option, the Company is working to secure a first right of refusal for the remaining 39,000 square feet.”
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As noted above, GCGX just announced Phase One of the Cannabis Mall is open.
Traders will note just shy of 380% tacked on to share pricing for the stock in the past week. Furthermore, the stock has seen interest climb, with an increase in recent trading volume of just shy of 850% beyond what we have been seeing over the larger time frame.
According to the release, “With the CO being issued this paves the way for the Manufacturing Suite to begin production of Indulge Oil & Vape Carts and edibles since the City has approved the Suite for the Manufacturing of Edibles. The planning and production schedule for Phase Two has started already, the next Suite to come online will house Distribution, Delivery, and Seedlings. Combing all three operations within the next Suite will not only expedite the process, but significantly reduce the cost to bring these 3 operations online.”
Currently trading at a market capitalization of $11.7M, GCGX has extremely sparse and opaque financial reporting as far as we can tell. By the base data we can find, we see no cash, no debt, and no revenues. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $GCGX 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 $GCGX, either long or short, and we have not been compensated for this article.