MariMed Inc (OTCMKTS: MRMD) has had a year to remember exploding up the charts from around $0.20 per share at the end of last year to recent highs of $5.80 per share. In recent months MRMD has transformed into a volume leader and is currently among the most active stocks on the OTCBB.
The booming cannabis space is responsible for many, many huge recent winners. The sector is on fire as we near legal recreational cannabis in Canada on October 17. The global legal marijuana market is expected to reach USD 146.4 billion by end of 2025, according to a new report by Grand View Research, Inc.
MariMed Inc (OTCMKTS: MRMD) is a spin-off from worlds, inc. which still owns 4.2 million shares of the Company. MRMD is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed’s team has developed state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI which are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations.
In addition, Marimed licenses precision-dosed, cannabis-infused products to treat specific medical conditions or to achieve a certain result. These products are licensed under the brand names Kalm Fusion™ and Nature’s Heritage™, both of which were developed by the Company, and Betty’s Eddies™, acquired in October 2017. The Company also has exclusive sublicensing rights in certain states to distribute vaporizer pens developed by Lucid Mood™, as well as the clinically-tested medicinal cannabis strains developed in Israel by Tikun Olam™.
Mr. Med is doing big numbers! earlier this month the Company reported Q2 2018 financial results, posting revenue of $2.9 million for the three months ended June 30, 2018, an 81% increase from the same period in 2017. MariMed continued on a solid trajectory of year over year revenue growth that it has achieved each quarter since 2016.
Earlier this year MRMD acquired iRollie LLC, including its intellectual property (IP), clients, and its host of products and services. MariMed hired iRollie’s cofounders Luke Shepter and Joe Khoury to expand the iRollie business as well as to bring their expertise and services in house to support MariMed brands and clients. MariMed acquired iRollie and its executives in exchange for $600,000 in MariMed stock.
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Marimed is led by founder Bob Fireman, a visionary business leader in the evolving legal medical cannabis industry. A successful entrepreneur, investor, attorney, and developer of new innovative businesses across a variety of industries. Mr. Fireman recently shared his vision for Mr. Med “We are moving into Pensalvania right now, we are applying for licenses in Florida and other states. We hope to be the best of the east. We have developed our whole line of cannabis infused products that are precision dosed for specific sytoms and remedies. We have many strategic partners and we are building a network in all the other states across the country, were we have partners to distribute our licensed, branded products into up to 5,000 dispensaries coast to coast. Our market capitalization is rising fast, we are acquiring new assets and I think that downstream we will be the most successful publically traded cannabis Company in the United States of America.
Mr. Med also consummated its strategic investment in Sprout, an all-in-one CRM and marketing software company for marijuana dispensaries and cannabis brands. This completes the previously announced MariMed LOI for investment in Cannabis Venture Partners, parent company of Sprout. Sprout’s CRM and marketing automation software combines technology, data and content to help dispensaries and cannabis brands increase sales, improve customer loyalty and reach more customers. MariMed intends to accelerate the growth of Sprout’s client base by marketing it to the top dispensaries and cannabis companies in the United States.
Marimed is the in the process of improving the look and feel of Kalm Fusion™ and Betty’s Eddies™ brands of precision dosed cannabis infused products, and are working on acquiring and strategically aligning with other quality brands to manufacture and distribute through their networks nationwide
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Currently trading at a $947 million market valuation MRMD has $5 million in the treasury, $45 million in assets, manageable debt and fast growing revenues reporting $2.9 million in sales for the three months ended June 30, 2018, an 81% increase from the same period in 2017. MRMD is becoming an early leader in the booming pot business developing cannabis facilities and brands of cannabis infused products in multiple states throughout the US. Mr. Med has an ambitious vision to become the most successful publically traded cannabis Company in the United States of America. We will be updating on MRMD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MRMD.
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Disclosure: we hold no position in MRMD either long or short and we have not been compensated for this article.