Image

Image

Monday, May 16, 2016

Who Was First, Blum Oakland or Kaya Shack?

Maybe I'm missing something in the language used by these two companies, but it appears both companies claim to be the first publicly traded integrated cannabis touching producer.

See my previous post on Kaya Shack for more information on the firm. Kaya Shack says this on pg. 23 of its 9/30/15 10-Q:

"We are the first fully reporting U.S. public company to actually own and operate a vertically integrated seed-to-sale legal marijuana enterprise in the United States. Our operations include medical marijuana dispensaries ("MMDs"), that serve both medical marijuana patients and recreational customers medical marijuana grow operations ("Grows"), the manufacturing of proprietary cannabis products and the research and development of medical grade cannabis strains and extracts for pain relief and treatment of serious illnesses."

I'm currently reading through Terra Tech's recent SEC filings. Terra Tech says the following in a press release in January 2016:

"Today, we can proudly claim the title of the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to branding, and now, with the acquisition of Blum, to retail sale"


So, who was first?

According to a January Forbes article Terra Tech's acquisition of Blum takes the title.  

But the date of Kaya Shack's filing above leads me to question that claim. 

Did the reporter for Forbes get it right, or wrong? 

She states the following in the first paragraph:

"Investors can now buy shares in the first publicly traded marijuana dispensary that handles the product from cultivation to storefront"

I question whether she did her own research on this claim, or just took the CEO's word for it.  I would welcome clarification from a credible source. Maybe there is even another public cannabis producer that we're unaware of.

I'm just sayin'...

Disclosure: I have no position in any firm mentioned in this post. You can see my portfolio as of the middle last month here. I'm not a very active trader.  

No comments:

Post a Comment