American Green Inc (OTCMKTS:ERBB) has moved to bolster its revenue channels with the acquisition of an ownership position in dispensary locator app, BlazeNow. With the acquisition, the company should be able to create revenue-generating models around the app via sales and marketing. The app will also allow the company to grow relationships with marijuana dispensaries across the country.
GreenXpress Development
American Green is also in the process of coming up with its own app, GreenXpress, as it continues to diversify its sources of revenue. The app under development will also include some of the features and capabilities that BlazeNow brings to the table.
Once complete, GreenXpress will allow people to carry out remote cashless reservation and purchase of American green products from AGM formally known as ZaZZZ. The app should be ready for use before the end of the year.
“We believe this expanding involvement is a key component to success in any other in-market venture we look at. “American Green’s ‘prime directive’ is the development of collateral revenues in the burgeoning cannabis industry, and the BlazeNow™ agreement accomplishes that,” said America Green’s Chairman, David Gwyther.
Growth Prospects
Meanwhile, the City of Phoenix has given the company the green light to complete its Virginia Avenue MJ Growth facility. With certain aspects of the construction underway, the company should be able to complete the whole facility for review and submissions for the necessary permits, mid next month. Completion of the facility should help supplement the company’s effort on its new facility near Charlotte North Carolina.
Combining the BlazeNow relationship and efforts put in place to grow marijuana in new facilities, America Green Chairman believes they will have one of their best quarters and fiscal year on earnings come 2017. Further affirming the company’s bright future is the fact that the company’s beneficial shareholder count is up by 3,077, compared to 2015 levels, an indication investors are slowly taking note of its growth prospects.
American Green Inc (OTCMKTS:ERBB) has since reaffirmed its commitment to growing its revenue and operating margins in a bid to grow shareholder value.
