CannaSys, Inc. (OTCQB: MJTK) is a cutting-edge technology solutions and marketing company in the legal cannabis industry. Their core offerings are “software as a service” (SaaS) services that enable point-of-purchase transactions, customer relationship marketing solutions, and cannabis laboratory information management systems. The company plans to grow by acquiring and building strategic relationships with other entities so they’ll be able to synergize and bring more innovation to this budding sector.
As legislation to legalize cannabis for both recreational and medical use sweeps across the country, CannaSys’ total attainable market expands. This is an industry that has seen parabolic growth and has left states with large tax surpluses already. As a supporting service provider, CannaSys is not in competition with the vendors leading the charge in the industry, but rather they share a mutually beneficial relationship that spurs profitability on both sides of the table.
The company acquired minority interests in Duby, LLC (a social media property with global focus on cannabis consumers) and MHB, Inc. (a licensing and branding agency with connections to Ziggy Marley and O.pen Vape). The company hopes to continue expanding vertically and exploring synergies between its existing relationships in order to create a more scalable and disruptive technology for clients to use. Some of the company’s other main focuses are its BumpUp Rewards loyalty marketing application and its White Label application. Additionally, the company has several new products in the works, which are expected to be launched later this year.
At nearly $5.7 billion in 2015, the industry grew nearly 24% year over year, and within that figure, recreational marijuana sales tripled. With only around 3.4 million shares available in the company’s publicly traded float and the DEA’s recent decision to review the federal classification of marijuana, it’s no surprise investors have started noticing CannaSys as a potential investment.
For more information on CannaSys, view the company’s website at: