General Cannabis (OTCQB:CANN)
General Cannabis (OTCQB:CANN) is the all-in-one resource for the highest quality service providers available to the regulated Cannabis Industry. The company lease grows and related facilities (commercial real estate and equipment) to licensed business operators for their production needs.
The company has a market cap of over $30 million. The company has recently reported strong results for second quarter of 2016. The company reported sales increased 64% to $701,942 for the three months ended June 30, 2016, compared with revenue of the $427,202 in the same period in 2015.
Its total revenues in the first half of 2016 increased 188% to around $1,394,054, relative with $484,059 in the same quarter of last year.
The company has also been aggressively converting strong revenue growth into higher earnings. General Cannabis reported a loss of $0.09 per share, which represents significant improvement of $0.22 per diluted share compared with the loss of $0.31 per diluted share in the second quarter of 2015.
In the first half of 2016, General Cannabis’ generated a loss of $0.17 per share, compared with the loss of $0.38 in the same period last year. The company improved its earnings potential by $0.21 per share.
Its CEO said, “We are encouraged by the distinct improvement in our revenues in the second quarter. During 2016, we have been focusing on developing our acquired businesses, as well as working on new initiatives. Our service revenues continue to grow significantly, driven by strong growth in our Next Big Crop division and Chiefton,” said Robert Frichtel, CEO of General Cannabis.
There are a number of aspects that are working in the favor of the company, including a sales lift in our apparel business and strong consulting revenue. Its stock currently trades around $0.78 per share with a market capitalization of 11.23 billion. Its outstanding shares are around 14,965,421, while authorized shares are around 100,000,000