At first, Cannabis was being banned in many of the states due to its psychoactive property. After the announcement of the license distribution to businesses across North America, the jobs in the Cannabis industry are growing day by day. This has been reported by The New York Times. On Glassdoor, an online job site, it has been noted that there is a 76% increase in the sector of cannabis plantation.
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Cannabis has a lot of benefits in the sector of medicine. From the cannabis plant only, the most famous CBD oil and isolate are made. In the sector, the industries are buying Cannabis as the raw materials from the farmers at the lowest price. They are then selling it in the form of CBD at the highest priced margins. These strong margins have helped give the industry a much-needed boost.
Companies Getting In On The Growing Trend
Companies, from banks to automakers, re-thinking drug testing. This is so as not to scare away talented employees who may enjoy a (legal) joint every now and then. \
The following are some of the medicinal properties of the Cannabis plant and they are:
- Cannabis plants main use for the treatment of nausea and vomiting
- Cannabis plants are mainly used for the treatment of the most dangerous diseases that is HIV and aids.
- The cannabis plant is really very effective for unbearable pain.
- Relieve the neurological condition
- The cannabis plant also helps to reduce post-traumatic stress disorder.
Delivering The Goods
Not only has the cannabis industry begun to create more jobs, it has carved out new industries as well. Think about delivery for a second. You probably use apps like Uber eats or Instacart. One company that has come out to not only address those needs but also those of legal marijuana is aiming to take the market by storm.
The opportunity that ParcelPal (PTNYF) (PKG) may be presenting now draws comparisons to the way early investors had an opportunity with companies like Uber and GrubHub (GRUB) before they went mainstream in the US. GrubHub priced its initial public offering at $26 per share and now trades nearly 5x that price just as this market is beginning to heat up!
As far as growth is concerned, the numbers could speak for themselves. In a recent earnings release, ParcelPal (PTNYF) (PKG) announced total audited gross revenue for the fiscal year 2018 is $3,369,630. In addition, other key highlights include:
- Total gross revenue up 825% in fiscal 2018 versus the year ended Dec. 31, 2017.
- EBITA of $1,371,782.
- Total cash on hand is $2,080,000 with 605,342 in accounts receivables.
- Gross profits of $802,035, representing a gross profit margin of 24%.
- Received $1,335,792 from exercising of warrants.
Records Are Made To Be Broken
Operating highlights also show strong momentum as ParcelPal now has over 300 live locations. The company also hit the milestone of 2,000,000 packages delivered and they launched service in Calgary.
“I am extremely pleased with the progress of our operations and our financial position ending in 2018. We will continue to push the business in our current market and strive to engage new markets within the year. Our core operations are stable and contributing to our overall strategic initiatives. We remain well capitalized and well positioned to achieve our goals of expansion and addition of new delivery verticals for the next 12 months.”
President and CEO Kelly Abbott
As the cannabis industry continues to grow, these new industry trends could present early opportunity for the market as a whole. Since ParcelPal (PTNYF) (PKG) is focusing on Canada, first, that could open up even bigger doors for growth later on, especially for cannabis. According to the latest projections from San Francisco-based ArcView Group in partnership with Boulder-based BDS Analytics the Canadian legal cannabis sector is estimated to generate $1.3 billion in 2018. By 2022, the forecast is even more robust—$5.4 billion for both the medical and recreational markets.
Midam Ventures LLC has been compensated $75,000 per month by a ParcelPal Technology, Inc. for a period beginning September 1, 2018 and ending February 1, 2019 to publicly disseminate information about (PTNYF/PKG) to publicly disseminate information about (PTNYF/PKG). Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to April 1, 2019. Midam Ventures has been compensated $100,000 by Parcel Pal and has extended coverage to May 1, 2019. Midam Ventures has been compensated $200,000 by Parcel Pal and has extended coverage to June 1, 2019. We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares. Click Here For Full Disclaimer
