NEW YORK, December 20, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - A new report from New Frontier Data with market data provided by Arcview Market Research, is focused on Florida, one of the states that approved cannabis use for medical purposes this election cycle. The report projects that Florida's market will grow to $1.6 billion by 2020 at a compound annual growth rate of 140%. Comparing to other states - California is projected to reach $2.6 billion market, and Colorado is projected $1.5 billion medical marijuana market for. NutraFuels Inc. (OTC: NTFU), Marijuana Company of America Inc. (OTC: MCOA), Greengro Technologies Inc. (OTC: GRNH), Cannabis Science Inc. (OTC: CBIS), Medical Marijuana Inc. (OTC: MJNA).
Due to the growing popularity, the legal cannabis market is becoming diversified, as cannabis is being used for edibles, drinks, nutraceuticals and more. The global market for nutraceuticals is expected to reach $240 billion by 2019, according to BCC Research, driven by increasing health concerns, growing government support, aging populations, and advancing per capita incomes.
NutraFuels Inc. (OTC: NTFU) is a manufacturer, marketer, and distributor of liquid-based nutraceuticals delivered via oral sprays and drink shots. The Company's oral spray products are designed to provide more absorption than capsules or liquid formulas. The company has also begun the launch of new hemp-based cannabidiol (CBD) to its expansive line of nutraceutical products. NutraFuels claims that their products have an innovative delivery mechanism for nutraceutical products, with up to a 98% absorption rate. The manufacturing, marketing and distribution process is conducted out of a location in Coconut Creek, FL facility.
NutraFuels has announced that it has improved its financial condition. In the recent quarter report revenue showed an increase of 111.2% to $260,001, gross margins also increased 769% to $153,000, and net loss narrowed 51% to $657,000 or $0.02 per share. In late-October, the NutraFuels has revealed that it had begun production on 100,000 units for one of its private label brands, My Daily Choice, consisting of six oral spray products targeting various wellness verticals. My Daily Choice has approximately 50,000 distributors worldwide consisting of some of the most successful entrepreneurs, marketers, and consultants in the network.
Edgar Ward, NutraFuels's CEO, said in a statement, "We have made progress this quarter... We are strategically executing our game plan, and we are seeing a positive reaction to the launch of our in house brands along with increased production demand from our private label business. As we move forward with additional new innovative formulas and products we remain focused on producing and distributing high quality daily health and wellness products to help improve the quality of life through naturally derived efficient and effective supplementation."
After many months of research and product development, cannabis and hemp distribution company, Marijuana Company of America Inc. (OTC: MCOA), the company has now commenced generating revenue and started to ship orders for its hempSMART Brain product. "Reporting revenue results to our current and prospective shareholders is an important step as the company continues to expand its footprint across America. Now that we have laid the groundwork for our affiliate program in the U.S., MCOA's goal is to utilize its global contacts and networks to begin to expand the hempSMART brand in other countries. In the past, I have developed one of the largest affiliate marketing programs in the world, with offices in over 50 countries and an affiliate base of over 100,000 members. I will leverage that experience as we expand the hempSMART brand," commented Chief Executive Officer Donald Steinberg.
Provider of eco-friendly green technologies, Greengro Technologies Inc. (OTC: GRNH) reported that the company had acquired 20 litre supercritical CO2 extraction machines for its new turnkey extraction labs. The machine utilizes high-flow pumps and large capacity extraction columns to rapidly recover essential oils from various botanical sources. This purchase will enable Greengro to fully evaluate the functional compatibility of this quality line of extraction equipment. With the addition of advanced modular laboratory structures, the extraction facility's design is topped with a structure as progressive as the laboratory's instrumentation and processes.
Cannabis Science Inc. (OTC: CBIS) develops, produces, and commercializes phytocannabinoid pharmaceutical products primarily in the US. The company is convoluted in developing medications for autism, blood pressure, cancer and cancer side effects, along with other illnesses involving general health maintenance. The company developed the CS-TATI-1, a newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, and to those intolerant of available therapies; CS-S/BCC-1 to treat basal and squamous cell carcinomas; and a proprietary cannabis-based therapy for neurological conditions. The Company's subsidiaries are Cannabis Science BV and Cannabis Science International Holding BV.
Medical Marijuana Inc. (OTC: MJNA) announced its subsidiary company, HempMeds® had established a new business in Chile. Furthermore, as part of the company's Latin American market expansion initiative, the company has started importing their flagship product Real Scientific Hemp Oil™ to Argentina. "We are proud to be building a business in Chile and expanding our distribution of HempMeds® RSHO™ into more countries in Latin America. Other countries in the region such as Brazil, Paraguay and Mexico have legalized CBD products for the treatment of multiple medical indications, so developing a business presence in Chile and a distribution network into Argentina seemed like the best logical direction," said Dr. Stuart Titus, Chief Executive Officer of Medical Marijuana. "We are excited about the new venture and look forward to helping develop new economic opportunities for the people of Chile and Argentina."
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