Steady Stock: Kush Bottles Inc (KSHB), Earth Science Tech Inc (ETST), Surna Inc (SRNA)
Kush Bottles Inc (OTCMKTS:KSHB) showing jumped of 4.64% and closed at $2.82, after gaining total volume of 246,760.00 shares. It earnings per share (EPS) is $0.00 and It has total market capitalization of $140.25 million and a total of 49.73 million outstanding shares.
Kush Bottles Inc (KSHB) on March 23, 2017 announced that on July 1, 2017, it will move its corporate headquarters and California fulfillment center to a larger, more centrally located facility in Garden Grove, CA. The new building features greater warehouse space to allow for increased inventory, as well as additional floor space to support new services for the company’s growing customer base.
A recent report from the World Bank stated that California just surpassed the nation of France to become the world’s sixth largest economy, only outpaced by the US (as a whole), China, Japan, Germany, and the UK.
According to an article in Business Insider, the size of the cannabis market in California could reach $4.27 billion in 2018, and could grow to $6.45 billion by 2020.
Bolstering this projected growth are two recent voter-approved initiatives: Proposition 64, the “Adult Use of Marijuana Act” legalized the purchase of cannabis for adults 21 and older in California; and Measure M, which was recently passed in Los Angeles and will allow the nation’s second largest city to repeal a current ban on medical marijuana dispensaries. The measure also allows the city council to create new rules in order to facilitate a safe and well-regulated legal cannabis industry.
“Kush Bottles thrives in regulated cannabis markets, where strict rules require the use of certified, child resistant packaging,” said Nick Kovacevich, CEO of Kush Bottles, Inc. “We are excited about the passage of Measure M, which will allow newly established and existing medical marijuana facilities to legally operate in Los Angeles under new rules to create a safe and well-regulated market.”
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -20.00% and closed at $1.00, with the total traded volume of 56,621.00 shares. During last trade its minimum price was $0.61 and it gained its highest price of $1.25 and has a total of 40.91 million outstanding shares.
Earth Science Tech, Inc., a biotechnology company, focuses on delivering nutraceuticals, bioceuticals, and dietary supplements in the areas of health, wellness, sports, and alternative medicine worldwide. It focuses on non-prescription nutritional and dietary supplements for the treatment of chronic pain, joint pain, inflammation, seizures, high blood pressure, memory loss, depression, weight management, nausea, aging, and overall wellness. The company also provides consulting services to the athletic facilities industry. Its marketing services include direct marketing, search engine optimization, public relations, email marketing, social media marketing, and development of referral programs. In addition, Earth Science Tech, Inc. retails health and wellness brands, as well as sports nutrition and dietary supplement products; and stocks and sells high grade cannabidiol rich hemp oil and products. The company was formerly known as Ultimate Novelty Sports, Inc. and changed its name to Earth Science Tech, Inc. in April 2014. The company was incorporated in 2010 and is headquartered in Boca Raton, Florida.
Surna Inc (OTCMKTS:SRNA) decreased -3.47% closed at $0.181 and traded with total volume of 425,965.00 shares, while the average trading remained 679,502.00 shares. During last trade its minimum price was $0.18 and it gained the highest price of $0.19. Its market capitalization was $33.58 million.
Surna Inc (SRNA) on March 31, 2017 reported its financial results for the three and twelve months ended December 31, 2016.
“In 2016, we began executing growth, cost reduction and capital market initiatives that have strengthened our operations and financial position,” stated Surna’s President and Chief Executive Officer Trent Doucet. “As a result, fourth quarter revenue grew 20% year-over-year and 72% compared to the third quarter. Full year improvements include gross margin reaching 30% and a reduction in our operating loss of 83% compared to 2015. Additionally, our recent debt conversion and equity financing fortified our balance sheet by more than $5.5 million, enabling us to pursue our sales team expansion more aggressively.
“Both the medicinal and recreational segments of the cannabis cultivation market are growing rapidly in the US and internationally. We also have been building our presence and recently signed our sixth deal in Canada. In 2017, we anticipate rolling out our next generation equipment as well as beta test of our control and automation platform.
“Overall, 2016 was a pivotal year for our market and for Surna specifically. We believe the positive trends are continuing in 2017, and we are very excited about our prospects,” concluded Doucet.
- Converted $3.2 million in principal and interest, or 100% of the obligations related to the 10% convertible promissory notes, in a series of transactions beginning in the fourth quarter of 2016 through March 2017.
- Raised $2.7 million in the sale of equity in a series of closings in March 2017.
- Obtained a 6% short-term loan of approximately $500,000 in February 2017.
- Exhibited at several important cannabis trade shows including Marijuana Business Conference & Expo in Las Vegas in November and CannaCon in Seattle in February.
- Signed a contract with Vancouver’s Sante Veritas Therapeutic to design and provide equipment for the environmental control system in its first commercial cultivation facility. As announced in March 2017, Surna expects to ship product and recognize associated revenue of $835,000 in the third quarter of 2017.
- Appointed Timothy J. Keating, capital markets thought leader, as chairman of the board of directors in March 2017.