Ever take a look at the commodity markets before? Crop reports are extremely important to weigh supply and demand for investors and traders. Now that the legal marijuana industry is seeing so much investor capital, it makes the cannabis harvest season that much more important. The crop reports will become a major focus for investors and cause large fluctuations in price. Can you see a marijuana futures contract coming out some day?
September means football season for fans who love the NFL and NCAA, and it also means back to school for millions of college students. In recent years, September has also come to mean that it’s harvest season for the nation’s newest legal cash crops: Cannabis.
It wasn’t that long ago that the only data generated from the annual fall cannabis harvest was that of arrest records published by law enforcement and photo-ops of thousands of cannabis plants seized by the DEA. This year, Wall Street research analysts will have their eyes glued on the results of this year’s coast-to-coast cannabis harvest like never before, as more and more cannabis and cannabis-related deals are trading on public exchanges for investors to take advantage of what is arguably the fastest growing agricultural sector in the world.
In the past 5 years, 100,000 jobs have been created across the country in cannabis-related companies, and at least 50 of those jobs have been at the life science company EVIO Inc., currently trading on the OTCQB under the symbol SGBYD. Located in Bend, Oregon, the company operates in a very unique niche in the sector: a chain of nine EVIO analytical testing laboratories staffed by professional scientists that provide accredited analytical testing services and scientific research to the regulated cannabis industry in five states coast-to-coast.
The company’s EVIO Labs division provides state-mandated ancillary services in place to ensure the safety and quality of the nation’s cannabis supply- an enviable position indeed. Legislated revenues to guarantee the safety of the nation’s cannabis supply. Genius.
Early this year, the company reported 1.5 million dollars in revenue in their Q2 2017 financials for last year’s harvest season from four analytical laboratories testing cannabis samples in Oregon. In the past 12 months, the company has added operating EVIO Labs in Sacramento, California, serving the world famous Humboldt County area, Denver, Colorado, and Southborough, MA to their portfolio; additionally, the company and has two EVIO Labs currently working through the respective accreditation processes in Fort Lauderdale, Florida and Costa Mesa, California.
With 29 states representing 190 million Americans or over 60% of the total US population with some form of access to legal cannabis, and with eight of those states having full recreational sales in place for cannabis products, the annual harvest is of great interest to many observers. There will be an estimated 1 million pounds of cannabis harvested across the country over the next 8 weeks.
That’s an estimate that’s probably on the low side, but is nonetheless a truly groundbreaking number, as it represents at a minimum 2.5 billion dollars of wholesale business that is not going into the pockets of criminal drug cartels. When a retail markup and diversification of that raw product into the myriad of edible, oil, analgesic, and other products developed by entrepreneurs across the nation is broken down, that number will likely be pushing 10 billion dollars of revenue generated by the nation’s cannabis industry in 2017.