We intend to establish our own online ordering platform for the ordering and re-stock of the registrant's products where allowed.
For many decades, all marijuana transactions in the United States were conducted under implicit or explicit prohibition. Recently, however, states have moved to legalize marijuana for medical purposes, as well as implement regulations for organizations that produce and distribute marijuana. In the last four years, the federal government has signaled its tacit acceptance of these state actions, including the Cole Memo from the Department of Justice and recent treasury memorandum confirming banking acceptance of state based marijuana businesses.
Currently over 50% of the states including Washington D.C. have passed medical marijuana laws and the states of Colorado, Washington and Alaska have legalized the recreational use and possession of marijuana. Internationally, a mix of laws control the market and distribution of medical and recreational marijuana usage and controls relating to cannabinoids. This emerging market presents opportunities to entrepreneurs and investors as well as risks.
We intend to target countries and states within the United States where clear laws have been established for the propagation, production, distribution and processing of cannabinoids and marijuana for medical purposes.
CompetitionThe cannabinoid delivery industry is currently experiencing a limited degree of competition with regard to availability, price, service, quality and location. There are well-established market leaders that are nationally and internationally recognized and which possess substantially greater financial resources and marketing personnel than us. There are also a small number of local or regional vendors. It is also likely that other competitors will emerge in the near future. We shall compete on the basis of availability, price, service, quality and location once we secure product lines for distribution.
Competitive AnalysisThe health, wellness and cannabinoid industries, specifically in states that have passed medicinal marijuana laws, are rapidly evolving and intensely competitive, and we expect that the competition will intensify in the future. Barriers to entry are minimal. We believe while we currently may have advantages in this market, the growth of this market is able to allow us to take a market share if we can raise sufficient funds to commence full-scale operations. We will compete on the basis of quality and value, whilst leveraging established brands and operators, and through customer preference. Our competitors may be well established, substantially larger and have substantially greater market recognition, greater resources and broader capabilities than we have. There can be no assurance that we will be able to compete successfully against current and future competitors, and competitive pressures faced by the registrant may have a material adverse effect on our business, prospects, financial condition and results of operations
Sales and MarketingSales representatives are made up of pharmaceutical and medical appliance trained sales professionals and their roles include the education of medical professionals in their target areas as well as sales to existing dispensaries.
We plan to roll out our products in phases country by country, region by region and state by state, in accordance with individually applicable medical marijuana and cannabis laws. In the future, we may open branded wellness clinic's/dispensaries.
The Company plans to form strategic partnerships with pharmaceutical and medical device sales professionals to capitalize on this growing new market.
Medical marijuana is among one of the fastest-growing markets in the United States. The registrant plans to secure a large share of the market place by providing superior products, performance and our expertise in marketing these products.