On Friday, we published a 48-page report on General Cannabis, Inc. (CANA-OTC), a technology-driven company focused on developing a significant Internet presence in the medical cannabis industry using various technological platforms, search engine optimization (SEO) strategies, and proprietary software applications. General Cannabis does not grow, harvest, cultivate, possess, or distribute medical cannabis; rather, the Company provides innovative online services that help physicians, dispensaries, and patients within the industry build relationships and manage businesses.
For example, General Cannabis operates WeedMaps.com, a finder site for medical cannabis dispensaries that has over 100,000 registered users, roughly 6 million page views per month, and over 1,800 clients who subscribe to its advertising services. In 2010, advertising revenues for the site exceeded $3 million.
In a medical setting, cannabis is used to relieve chronic or neuropathic pain, improve appetite, decrease nausea, and facilitate muscle relaxation. As illustrated below, cannabis is utilized under state law for medical purposes in 15 states and Washington, D.C., representing a portion of the estimated $35 billion to $45 billion cannabis industry in the U.S. Legislation is pending in 12 additional states.
As decriminalization of medical cannabis becomes more prevalent, multiple cannabis-related niche markets have emerged, including media, technology, management of medical clinics, merchant processing, and marketing. The Company is one of the first publicly traded companies to support the medical marijuana market through each of these sectors. General Cannabis aims to lead each respective market sector, creating a standard of professionalism that it believes is largely absent in this industry. The Company also seeks vertical integration opportunities within these sectors.
General Cannabis began trading on the Over-the-Counter (OTC) Pink Sheets under the ticker “CANA” in late 2010. The full report and an overview of General Cannabis’ stock information is available through our Research Library.