DigiPath, Inc. (OTCQB: DIGP), through its four business
units (DigiPath Labs, TNM News Corp., DigiPath Corp. and Digipath University),
supports the cannabis industry’s best practices for reliable testing, education
and training, as well as bringing unbiased new coverage to the cannabis field.
The rapid growth of the cannabis industry has been well documented, and,
according to ArcView Research, the market for legal cannabis is the
fastest-growing industry in the country. DigiPath is capitalizing on this growth
through the operation of one of the first cannabis testing laboratories in
Nevada.
Despite legalizing medical marijuana more than 15 years ago,
Nevada’s cannabis industry is just beginning to scratch the surface of its
potential. Early projections by analysts suggest that the state’s market could
exceed $100 million in the coming years, pending the approval of three bills
currently navigating state legislature. Upon approval, state law will require
testing of each batch of cannabis by a state-licensed laboratory before it can
be sold to the public. DigiPath, through the operation of one of the state’s
first labs, is placing itself in a strong strategic position to capitalize on a
first-mover advantage in the burgeoning market.
“During our recent quarter we made significant progress
building and equipping our flagship cannabis testing laboratory in Las Vegas
and preparing for it’s opening,” stated Todd Denkin, Chief Executive Officer of
DigiPath. “[W]e expect to receive final certification in a matter of days,
which will allow us to begin operating our lab and generating revenues from our
testing services.”
In addition to the company’s flagship laboratory, DigiPath
has made significant strides in growing its internet news and radio program,
The National Marijuana News. Since its soft launch in June 2014, the network
has amassed a following of more than 100,000 monthly listeners and secured
broadcast on a host of terrestrial radio stations in markets around the
country.
“We are on track to continue our expansion in the
cannabis-testing and information spheres,” continued Denkin. “We’ve set a solid
foundation in our first two quarters, and we expect to build on it through the
rest of the fiscal year.”
As the national opinion on cannabis legalization continues
to shift into a more favorable light, DigiPath is establishing a significant
industry presence that should pay dividends in the future. According to another
report from ArcView Research, the legal marijuana market is expected to
experience growth of more than 650 percent in the period from 2013 to 2018,
highlighting the massive potential for DigiPath moving forward. Investors
caught a glimpse of this potential in the company’s recently released financial
results, which posted a 170 percent increase in revenue over the previous year.
For more information, visit www.digipath.com
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