NORTH AMERICAN CANNABIS HOLDINGS, INC (OTCMKTS:USMJ) has been making a lot of news after its acquisition of a Dallas based beverage business. The acquisition was made in an attempt to launch the much anticipated AmeriCanna Café. Before the acquisition, the company was in a very poor financial state, however, the company is hoping to build on the $420,000 annual revenues and a gross profit margin of 55%. USMJ has already filed the Performa disclosure, following the acquisition.
USMJ had scheduled a presentation, held on July 7, 2015, to update investors on the company’s name change and recent acquisitions. The presentation was chaired by CEO, Steven Rash, who made public the details for building a national destination café chain. Additionally, Mr. Rash updated the shareholders on the company’s current products under-development and USMJ’s growing interest in marijuana growing operations and hemp farming. Furthermore, the management has also announced the development of a shareholder dividend strategy, which would be linked to the company’s product development cycle.
However, the most important part of the presentation was the announcement by the management to contain the issued and outstanding stock within the 100 million shares mark. The company had previously been suffering severely from dilution and at its current state it seems that the situation is not going to change much. However, an assurance from the company just might spark a much needed investor interest in the stock. USMJ has been very optimistic about the launch of its AmeriCanna Café and the management is hoping to make the company profitable through this venture.
Once the company is ready with its first location, the initial results would provide a better view of whether this optimism is well placed. The company’s next financial report is one that the shareholders would be most looking forward to. If the operations are successful and the company is able to cross the $500,000 revenue mark, it could very well achieve its aim of growing to nationwide marijuana café.
NORTH AMERICAN CANNABIS HOLDINGS, INC (OTCMKTS:USMJ) closed at a share price of $0.0098, after gaining 18.07% during the July 10 session and trading 26.09 million shares.