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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?
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.
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'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.
Grow Cannabis In Our Warehouses!
The following is pulled from the recent 3/31/16 10-Q of Home Treasure Finders, Inc.
NOTE 5 – LONG-TERM DEBT
On September 15, 2014, the Company entered into a promissory note for $840,000 on the purchase of three warehouse units known as 4420, 4430 and 4440 Garfield Street, Denver, Colorado. The Company is leasing each of the three separate units to licensed third party growers for cannabis cultivation. The terms of the variable interest 25 year amortization note carried by the seller of the property call for payments to seller as follows:
1. First and Second year interest rate at 7% with 25 year amortization payment at $5,937 per month.
2. Third and Fourth year at 8% with 25 year amortization payment at $6,278 per month.
3. Fifth year at 9% with 25 year amortization payment at $6,640 per month.
4. Balloon payment of $777,255 due at end of the fifth year.
The note to seller is secured by the three warehouse units.
As of March 31, 2016, the balance of the note was $821,525.
Home Treasure Finders, Inc. was formed on July 28, 2008. The founder, sole director and officer of our company is Corey Wiegand. On March 3, 2014 we formed a wholly owned subsidiary, HMTF Cannabis Holdings, Inc. to purchase properties that qualify for legal cultivation of cannabis.
Our net income for the three months ended March 31, 2016 was $5,267. We generated operating revenue from three sources, sales commissions, property management, and commercial real estate for legal cannabis cultivation. We manage approximately 60 rental real estate owned by non-related third parties. In comparison our net loss for the three months ended March 31, 2015 was $26,542.
The business plan of our subsidiary, HMTF Cannabis Holdings, Inc. is capital intensive and requires that we raise significant additional capital to acquire and improve real estate. We are negotiating with various sources for an equity infusion to match our long term capital needs.
Disclosure: I have no shares 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.
NOTE 5 – LONG-TERM DEBT
On September 15, 2014, the Company entered into a promissory note for $840,000 on the purchase of three warehouse units known as 4420, 4430 and 4440 Garfield Street, Denver, Colorado. The Company is leasing each of the three separate units to licensed third party growers for cannabis cultivation. The terms of the variable interest 25 year amortization note carried by the seller of the property call for payments to seller as follows:
1. First and Second year interest rate at 7% with 25 year amortization payment at $5,937 per month.
2. Third and Fourth year at 8% with 25 year amortization payment at $6,278 per month.
3. Fifth year at 9% with 25 year amortization payment at $6,640 per month.
4. Balloon payment of $777,255 due at end of the fifth year.
The note to seller is secured by the three warehouse units.
As of March 31, 2016, the balance of the note was $821,525.
Home Treasure Finders, Inc. was formed on July 28, 2008. The founder, sole director and officer of our company is Corey Wiegand. On March 3, 2014 we formed a wholly owned subsidiary, HMTF Cannabis Holdings, Inc. to purchase properties that qualify for legal cultivation of cannabis.
Our net income for the three months ended March 31, 2016 was $5,267. We generated operating revenue from three sources, sales commissions, property management, and commercial real estate for legal cannabis cultivation. We manage approximately 60 rental real estate owned by non-related third parties. In comparison our net loss for the three months ended March 31, 2015 was $26,542.
The business plan of our subsidiary, HMTF Cannabis Holdings, Inc. is capital intensive and requires that we raise significant additional capital to acquire and improve real estate. We are negotiating with various sources for an equity infusion to match our long term capital needs.
Disclosure: I have no shares 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.
Thursday, May 5, 2016
Mary Jane Group B&B's - Conference Call on Weed!
Warren Buffett has said he reads S-1's like other guys read Playboy. I listen to corporate conference calls like other guys watch online porn.
Here are some summary notes from a recent conference call for the Mary Jane Group based in Denver. I just took notes as the CEO Joel Schneider spoke, so all of the following came directly from him. I decided to put them here to save you from having to listen if you want the info or are into this cannabis bed and breakfast idea.
The audio was extremely annoying. There is a constant stream of tones indicating people joining and leaving the call, I think. He is obviously a little flustered by all the noise. I would think they could have muted those sounds. Oh well. Here is a link to the call, if you don't believe me, it was pretty rough.
- He was a securities attorney for over 30 years, mostly represented small cap, not an innkeeper
- Joel acquired the shell corp. (with a name I couldn't understand, Pateo or Badeo Corporation?), which is now Mary Jane Group
- Sole reason for purchase was to come to Colorado to get involved with and acquire cannabis businesses
- Joel met a man running Mary Jane Entertainment, which was a suite of companies with a bunch of different projects such as cannabis related online radio, newspaper, tours, events/lounges, glass blowing – none really operational, tried to salvage them, but ultimately they were failures
- Saw a need for cannabis lodging while living in a hotel
- Cannabis lodging did not exist before April 10th, 2014, the date when they signed a lease and took over The Adagio, the flagship property of Mary Jane Group (claim disputed by me)
- Dissolved failing businesses, which took until late 2014, while starting to operate B&B
- Had to raise half a million dollars in debt “to run businesses that were basically running the company into the ground”, so “because of this debt the stock has gone down tremendously”
- Continued to grow B&B business by acquisition – took over Mountain Vista B&B in Silverthorne, then took over Hotel San Ayre. (In the springs) This doubled rooms to 22
- No other way to get into business other than issuing convertible debt, “had a lot of convertible debt out there”
- Discussion of shell company filings and raising convertible debt eligible to be sold into the market, which eventually caused a run on the stock
- When first conversions vested and happened in April 2015, they all started happening
- Provisions for a certain convertible debt holder that wasn't a friend allowed a decreasing conversion price as the stock fell, and started forcing price of the stock down – impetus for run on the stock
- Strong bookings on all three B&B properties operating and profitably operating
- Unable to raise all money for Adagio, landlord extended lease, but did cost company $75,000 in a non-refundable deposit
- Believes in cannabis as growth industry, looking to grow at least one property per quarter – looking at Washington, Oregon, Alaska, California, Hawaii, etc.
- Looking to expand through management agreements for hotel chain “Bud & Breakfast”
- Getting calls from other “tired” B&B owners around the country to become part of the “Bud & Breakfast” chain – to boost occupancy, rates, efficiency, etc.
- Agreements would allow taking on additional properties without huge renovation capex, such as with San Ayre and Mountain Vista
- Believes good properties are available around the country
- CannaCamp - “was real and was something we had invested in”
- Approached by others in March 2015 about starting ranch or camp, went to look at CannaCamp host ranch location and wanted to go forward
- Put out press release which gave people cold feet, dealt with that
- Property was under contract for sale, had obtained draft of lease prior to closing, showed that they were allowed to operate CannaCamp for four months from July 1st through the end of October.
- Unfortunately, press release was picked up nationally and internationally – Jimmy Kimmel, Conan, Jimmy Fallon
- Purchaser of property got cold feet and refused to sign the lease
- Went looking for other properties in Durango, put up $75,000 to take over a 2nd ranch, partners backed out and “took us to a 3rd ranch”
- At that point MJ Group was forced to withdraw support for CannaCamp for 2015, could not be embarrassed anymore and pulled out after investing $20,000 in opening of original ranch, advertising, “cultivated spirits”, etc.
- Despite having some bookings, property partners “dropped the ball”
- Next effort will probably be called “Bud & Breakfast Mountain Resort and Retreat" - examining properties - shooting for 4/20/16, but takes things time to ramp up
- Starting with an industry that did not exist, $609,000 in revenue in first year of business, primarily from Adagio in Denver
- All convertible debt converted to equity, gone through the bad times
- Still have non-convertible debt of $350,000
- Dedicated management “crew” including management, chefs, hosptiality, etc.
Here are some summary notes from a recent conference call for the Mary Jane Group based in Denver. I just took notes as the CEO Joel Schneider spoke, so all of the following came directly from him. I decided to put them here to save you from having to listen if you want the info or are into this cannabis bed and breakfast idea.
The audio was extremely annoying. There is a constant stream of tones indicating people joining and leaving the call, I think. He is obviously a little flustered by all the noise. I would think they could have muted those sounds. Oh well. Here is a link to the call, if you don't believe me, it was pretty rough.
Mary Jane Group is developing an interesting business focused on cannabis friendly B&B's in Colorado, but it has had it's struggles. Here is a link to see the properties. I'd really like to check one out soon.
From what I gathered, this recording took place in July 2015. The stock is now at zero, and was basically at zero then. Filings through Yahoo! and EDGAR are here. I may try to call Joel instead of reading these filings to find out what is up with his firm. Strangely enough, I just accepted a connection request from him on LinkedIn a few days ago.
From what I gathered, this recording took place in July 2015. The stock is now at zero, and was basically at zero then. Filings through Yahoo! and EDGAR are here. I may try to call Joel instead of reading these filings to find out what is up with his firm. Strangely enough, I just accepted a connection request from him on LinkedIn a few days ago.
Conference call on weed!
- Joel Schneider, CEO of Mary Jane Group speaking
- He was a securities attorney for over 30 years, mostly represented small cap, not an innkeeper
- Lots of annoying tones they can't seem to mute
- Joel acquired the shell corp. (with a name I couldn't understand, Pateo or Badeo Corporation?), which is now Mary Jane Group
- Sole reason for purchase was to come to Colorado to get involved with and acquire cannabis businesses
- Joel met a man running Mary Jane Entertainment, which was a suite of companies with a bunch of different projects such as cannabis related online radio, newspaper, tours, events/lounges, glass blowing – none really operational, tried to salvage them, but ultimately they were failures
- Saw a need for cannabis lodging while living in a hotel
- Cannabis lodging did not exist before April 10th, 2014, the date when they signed a lease and took over The Adagio, the flagship property of Mary Jane Group (claim disputed by me)
- It is “a tremendous success”
- Dissolved failing businesses, which took until late 2014, while starting to operate B&B
- Had to raise half a million dollars in debt “to run businesses that were basically running the company into the ground”, so “because of this debt the stock has gone down tremendously”
- Continued to grow B&B business by acquisition – took over Mountain Vista B&B in Silverthorne, then took over Hotel San Ayre. (In the springs) This doubled rooms to 22
- No other way to get into business other than issuing convertible debt, “had a lot of convertible debt out there”
- Discussion of shell company filings and raising convertible debt eligible to be sold into the market, which eventually caused a run on the stock
- When first conversions vested and happened in April 2015, they all started happening
- Provisions for a certain convertible debt holder that wasn't a friend allowed a decreasing conversion price as the stock fell, and started forcing price of the stock down – impetus for run on the stock
- Strong bookings on all three B&B properties operating and profitably operating
- Unable to raise all money for Adagio, landlord extended lease, but did cost company $75,000 in a non-refundable deposit
- Believes in cannabis as growth industry, looking to grow at least one property per quarter – looking at Washington, Oregon, Alaska, California, Hawaii, etc.
- Looking to expand through management agreements for hotel chain “Bud & Breakfast”
- Getting calls from other “tired” B&B owners around the country to become part of the “Bud & Breakfast” chain – to boost occupancy, rates, efficiency, etc.
- Agreements would allow taking on additional properties without huge renovation capex, such as with San Ayre and Mountain Vista
- Believes good properties are available around the country
- CannaCamp - “was real and was something we had invested in”
- Approached by others in March 2015 about starting ranch or camp, went to look at CannaCamp host ranch location and wanted to go forward
- Put out press release which gave people cold feet, dealt with that
- Property was under contract for sale, had obtained draft of lease prior to closing, showed that they were allowed to operate CannaCamp for four months from July 1st through the end of October.
- Unfortunately, press release was picked up nationally and internationally – Jimmy Kimmel, Conan, Jimmy Fallon
- Purchaser of property got cold feet and refused to sign the lease
- Went looking for other properties in Durango, put up $75,000 to take over a 2nd ranch, partners backed out and “took us to a 3rd ranch”
- At that point MJ Group was forced to withdraw support for CannaCamp for 2015, could not be embarrassed anymore and pulled out after investing $20,000 in opening of original ranch, advertising, “cultivated spirits”, etc.
- Despite having some bookings, property partners “dropped the ball”
- Next effort will probably be called “Bud & Breakfast Mountain Resort and Retreat" - examining properties - shooting for 4/20/16, but takes things time to ramp up
- Starting with an industry that did not exist, $609,000 in revenue in first year of business, primarily from Adagio in Denver
- All convertible debt converted to equity, gone through the bad times
- Still have non-convertible debt of $350,000
- Dedicated management “crew” including management, chefs, hosptiality, etc.
- Generating revenue 7 days a week and working 7 days a week
- Generating retail and spa revenue at properties
- Operationally running sound and will need to raise additional funds for specific projects within aggressive growth plan
- We are in that window where our stock needs to remain above $.01 per share for 10 consecutive days, otherwise gets taken down to pink sheets
- This leaves management in a quandary, does not want to do a reverse split, but a small one could be necessary
- Market is not appreciating the businesses – next year of revenue will exceed current market cap, doesn't know of other businesses like that
- Being the sole director and officer is not “correct”, looking to expand management, this will change
- Trying to expand business, he has talked to many cities and has learned a lot about which are accepting and which aren't
- CannaCamp was a “failure” that cost the company money
- Being unable to close on the Adagio was a “failure”, but “we still run that business and it gets rave reviews”
- Just scratching the surface in terms of using it as an event space, and many other revenue growth opportunities
- A very enthusiastic rah-rah growth speech (which I admit was fun to listen to (beside the beeping) because I too am enthusiastic about the industry)
- Question from investor: Do you drug test your employees? No, but they do not allow use during shifts. Encourage off shift mingling with guests, which part of not just being a hotel, but also entertainment
- Encourages guests to consume in common areas like the porches, living rooms, etc. No smoking in rooms, cannabis is highly social already
- An apology for CannaCamp failure
- Pushes his firms PR sophistication (odd, since PR blew up in his face after over hyping and under delivering, they aren't alone in the cannabis world)
- Discusses possible reality show and other unique cannabis hospitality/lodging/media/licensing opportunities
Wow! Good stuff. I like that business model of just an awesome, unique B&B with great food nestled in a developed wine region in an adult use state. What a country!
Disclosure: I don't own stock in Mary Jane Group. You can see my portfolio as of the middle last month here. I'm not a very active trader.
- Generating retail and spa revenue at properties
- Operationally running sound and will need to raise additional funds for specific projects within aggressive growth plan
- We are in that window where our stock needs to remain above $.01 per share for 10 consecutive days, otherwise gets taken down to pink sheets
- This leaves management in a quandary, does not want to do a reverse split, but a small one could be necessary
- Market is not appreciating the businesses – next year of revenue will exceed current market cap, doesn't know of other businesses like that
- Being the sole director and officer is not “correct”, looking to expand management, this will change
- Trying to expand business, he has talked to many cities and has learned a lot about which are accepting and which aren't
- CannaCamp was a “failure” that cost the company money
- Being unable to close on the Adagio was a “failure”, but “we still run that business and it gets rave reviews”
- Just scratching the surface in terms of using it as an event space, and many other revenue growth opportunities
- A very enthusiastic rah-rah growth speech (which I admit was fun to listen to (beside the beeping) because I too am enthusiastic about the industry)
- Question from investor: Do you drug test your employees? No, but they do not allow use during shifts. Encourage off shift mingling with guests, which part of not just being a hotel, but also entertainment
- Encourages guests to consume in common areas like the porches, living rooms, etc. No smoking in rooms, cannabis is highly social already
- An apology for CannaCamp failure
- Pushes his firms PR sophistication (odd, since PR blew up in his face after over hyping and under delivering, they aren't alone in the cannabis world)
- Discusses possible reality show and other unique cannabis hospitality/lodging/media/licensing opportunities
Wow! Good stuff. I like that business model of just an awesome, unique B&B with great food nestled in a developed wine region in an adult use state. What a country!
Disclosure: I don't own stock in Mary Jane Group. You can see my portfolio as of the middle last month here. I'm not a very active trader.
Wednesday, May 4, 2016
Vertical Integration in Cannabis and Wine
Having worked for an integrated cannabis grower/processor/packager/retailer I've done some thinking and research on comparable business models among publicly traded companies. Cannabis is vertically integrated to a higher degree than most other industries.
Imagine a banana company that has locations to sell bananas. An agricultural producer, a retailer and some varying degree of processing and packaging in between. As far as I can tell Chiquita doesn't do as much of that, nor does Dole, Del Monte, Driscoll Berries, Diamond Nuts, Altria, Phillip Morris, Heineken or many others. Maybe some small brewers lean in this direction. Maybe some retailers own farms or production facilities, I'm not sure.
Crimson Wine Group is one interesting company I found.
From Scottrade, which I'm pretty sure uses some subscription level of S&P Capital IQ data and information:
Crimson Wine Group, Ltd. owns and operates boutique, estate-based wineries that produce wines in the wine growing regions of California, Oregon and Washington. The Company operates through two segments: Wholesale Sales and Direct to Consumer Sales. The Wholesale Sales segment includes all sales through a third party where prices are given at a wholesale rate whereas Direct to Consumer Sales segment includes retail sales in the tasting room, remote sites and at on-site events, Wine Club sales, and other sales made directly to the consumer without the use of an intermediary. The company through its subsidiaries owns four wineries: Pine Ridge Vineyards, Archery Summit, Chamisal Vineyards and Seghesio Family Vineyards.
They are growing grapes, processing them then selling wine. That is what we did at the company I worked for, but with a different crop and market.
Crimson does sell a lot of wine wholesale to distributors across the world, but a not insignificant amount of revenue is from direct to consumer retail/tasting room locations and wine clubs.
If you care to see it although it's not on weed, here is a link to the most recent 10-K for Crimson.
Crimson holds northern California, Oregon and Washington wine acreage, and was spun off from conglomerate Leucadia. Leucadia has a fundamental investing and insurance culture. Ian Cumming, a builder of Leucadia, still owns a high single digit percentage of the shares of Crimson. There has been major consolidation in the wine, beer and spirits industry and many would be comps are part of multi-billion dollar drinks firms. Crimson's stock is currently trading right around book value, but looks expensive compared to recent financial performance. About $205 million market cap, with roughly $16 million in debt.
Thinking about beautiful California wine country got me thinking about my trips up to Sonoma during graduate school in SF, cannabis/wine tourism and B&B's. We usually stayed with my wife's uncle, sleeping in a tent outside in the dense Redwood forest of northern Sonoma, on the coast near Fort Ross. You can smell the outdoor cannabis and see the farms as you stroll around in the right areas. Usually, it was no B&B for my wife and I. One time we drove up for a night and stayed at a great little B&B, it was quite memorable. Some family was visiting Napa from Chicago, so it gave us a reason to splurge.
The Mary Jane Group is now pursuing this market for cannabis tourists in Colorado. After being inspired by fond memories, Mary Jane's Colorado B&B business will be the topic of my next post.
One last thing, just because I find it useful, is a piece by McKinsey that breaks down vertical integration of industries and companies. I like using it as a framework to think about the cannabis industry. Perhaps in a future post I'll explore that further.
Disclosure: I have owned shares in Crimson Wine Group since last August and Heineken ADR's since 2011. I do not own stock in Mary Jane Group. You can see my portfolio as of the middle last month here. I'm not a very active trader.
Imagine a banana company that has locations to sell bananas. An agricultural producer, a retailer and some varying degree of processing and packaging in between. As far as I can tell Chiquita doesn't do as much of that, nor does Dole, Del Monte, Driscoll Berries, Diamond Nuts, Altria, Phillip Morris, Heineken or many others. Maybe some small brewers lean in this direction. Maybe some retailers own farms or production facilities, I'm not sure.
Crimson Wine Group is one interesting company I found.
From Scottrade, which I'm pretty sure uses some subscription level of S&P Capital IQ data and information:
Crimson Wine Group, Ltd. owns and operates boutique, estate-based wineries that produce wines in the wine growing regions of California, Oregon and Washington. The Company operates through two segments: Wholesale Sales and Direct to Consumer Sales. The Wholesale Sales segment includes all sales through a third party where prices are given at a wholesale rate whereas Direct to Consumer Sales segment includes retail sales in the tasting room, remote sites and at on-site events, Wine Club sales, and other sales made directly to the consumer without the use of an intermediary. The company through its subsidiaries owns four wineries: Pine Ridge Vineyards, Archery Summit, Chamisal Vineyards and Seghesio Family Vineyards.
They are growing grapes, processing them then selling wine. That is what we did at the company I worked for, but with a different crop and market.
Crimson does sell a lot of wine wholesale to distributors across the world, but a not insignificant amount of revenue is from direct to consumer retail/tasting room locations and wine clubs.
If you care to see it although it's not on weed, here is a link to the most recent 10-K for Crimson.
Crimson holds northern California, Oregon and Washington wine acreage, and was spun off from conglomerate Leucadia. Leucadia has a fundamental investing and insurance culture. Ian Cumming, a builder of Leucadia, still owns a high single digit percentage of the shares of Crimson. There has been major consolidation in the wine, beer and spirits industry and many would be comps are part of multi-billion dollar drinks firms. Crimson's stock is currently trading right around book value, but looks expensive compared to recent financial performance. About $205 million market cap, with roughly $16 million in debt.
Thinking about beautiful California wine country got me thinking about my trips up to Sonoma during graduate school in SF, cannabis/wine tourism and B&B's. We usually stayed with my wife's uncle, sleeping in a tent outside in the dense Redwood forest of northern Sonoma, on the coast near Fort Ross. You can smell the outdoor cannabis and see the farms as you stroll around in the right areas. Usually, it was no B&B for my wife and I. One time we drove up for a night and stayed at a great little B&B, it was quite memorable. Some family was visiting Napa from Chicago, so it gave us a reason to splurge.
The Mary Jane Group is now pursuing this market for cannabis tourists in Colorado. After being inspired by fond memories, Mary Jane's Colorado B&B business will be the topic of my next post.
One last thing, just because I find it useful, is a piece by McKinsey that breaks down vertical integration of industries and companies. I like using it as a framework to think about the cannabis industry. Perhaps in a future post I'll explore that further.
Disclosure: I have owned shares in Crimson Wine Group since last August and Heineken ADR's since 2011. I do not own stock in Mary Jane Group. You can see my portfolio as of the middle last month here. I'm not a very active trader.
Tuesday, May 3, 2016
Waters Corp. Makes Lab Testing and Scientific Research Equipment
From the Waters Corp. website:
Better technology furthers better science. Waters continually pushes the limits of scientific possibility, helping our customers to reach their goals every day.
Better technology furthers better science. Waters continually pushes the limits of scientific possibility, helping our customers to reach their goals every day.
Through constant collaboration with the scientific community, our customers benefit from innovation in our core technologies: separation and analytical sciences, mass spectrometry and laboratory informatics. Separately, or together, our solutions contribute to our customers’ enduring business and scientific success.
This looks like a company that may benefit in the long-run from increased demand for cannabis testing and scientific research. More financial research is underway over here at SEC Filings on Weed! Unsurprisingly, a quick Waters Corp. 10-K and 10-Q search for cannabis related terms did not turn up anything. This could be one of those unspoken but understood opportunities. I'd be surprised if a lot of Waters' wares weren't already in use at cannabis testing labs such as CannLabs and medical research outfits like Nemus Bioscience and their partner the University of Mississippi.
Walgreen's isn't shying away from medical cannabis, see this recent article at The Huff Post.
Disclosure: I don't own shares of Waters Corp. I have owned Walgreen's stock since early 2012, when the whole Express Scripts brawl seemed extremely important to Wall Street. I was hoping Goldman Sachs was on the other side of my trades. They issued a sell rating at about a $30 billion market cap around the time I was buying. Be greedy when others are fearful and fearful when others are greedy. You can see my portfolio as of the middle last month here. I'm not a very active trader.
Walgreen's isn't shying away from medical cannabis, see this recent article at The Huff Post.
Disclosure: I don't own shares of Waters Corp. I have owned Walgreen's stock since early 2012, when the whole Express Scripts brawl seemed extremely important to Wall Street. I was hoping Goldman Sachs was on the other side of my trades. They issued a sell rating at about a $30 billion market cap around the time I was buying. Be greedy when others are fearful and fearful when others are greedy. You can see my portfolio as of the middle last month here. I'm not a very active trader.
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