Click here to close now.




















Welcome!

News Feed Item

Verde Science, Inc. Signs First Long Term Advisory Services Contract With Los Angeles County Medical Marijuana Dispensary; Unveils Additional Details About Its New Strategic Direction and Recurring Revenue Business Model

Company Contracts With Sherman Oaks Holistic Oasis to Provide Design, Engineering, Build and Financing of a New Grow Facility to Increase Product Yield, Quality and Profitability

LOS ANGELES, CA -- (Marketwired) -- 06/02/14 -- Verde Science Inc. (OTCQB: VRCI) today announced that it has signed its first long-term contract with Sherman Oaks Holistic Oasis (SOHO), a legal, licensed medical marijuana dispensary located in Los Angeles County since 2006 which services more than 1,600 patients. Verde will earn an ongoing monthly management fee based on costs savings generated from its advisory services as well as a royalty on all product sales. Los Angeles County is thought to be the largest medical marijuana market in the world.

Verde will provide design, engineering, construction, financing and management services to SOHO to construct a state-of-the-art medical marijuana cultivation facility. By leveraging Verde's technical expertise, SOHO will achieve greater crop yields resulting in substantially lower costs. Final terms of the construction funding from Verde Science Financial Services will be disclosed upon signing.

As previously announced, Verde Science will introduce state-of-the-art aeroponic growing technology to the Southern California market, and the initial site will be SOHOs grow facility. Aeroponics utilizes no soil or any other growth media like hydroponics. Rather, plants grow with their roots suspended in the air and are intermittently misted with nutrient solution. The benefits of aeroponics are healthier plants, increased yields and shortened crop turns, but the single most important aspect of this technology is the consistent quality and potency of the product which is also free of molds, pesticides, and diseases.

Verde Science's newly appointed director, Luis Bobadilla, has eight years of operational experience in the legal medical marijuana business in Los Angeles. He is very influential among a sizable group of the 132 legal dispensaries in LA County. With the assistance of Verde Science, a significant number of these dispensaries will gain access the same benefits as SOHO obtains with the deal announced herein. They will have lowered costs, reliable and available products, operational assistance and most importantly access to capital. Currently these businesses have little or no access to capital with which to expand and operate. The availability of capital combined with the huge technical advantage that Verde Science brings to the market assures that dispensaries who team up with Verde will come to dominate in their local market.

Verde Science's CEO, Harp Sangha, commented, "We are excited to announce our contract with SOHO and look forward to working with them to increase profitability, output, and quality. This is the first of what we expect to be several long-term agreements that we will sign with dispensaries in Los Angeles Country. We see an outstanding opportunity to enter this market, establish our best practices and then move into other legal jurisdictions as well."

Director, Luis Bobadilla, stated, "Verde Science Financial Services will be a crucial asset to Verde's partners because they will provide funding to businesses which have no other access to the capital markets. The funds will allow dispensaries to procure essential real estate, equipment, and operating capital, and facilitate accelerated customer acquisition. Verde will secure and service the financing with a royalty stream from product sales. Risk is mitigated as facilities will be designed and built to service existing patient demand supported by an existing revenue stream. Verde will leverage its proprietary commercial aeroponic technology to deliver 20% to 40% cost savings over current wholesale market prices along with increases in annual crop turns between 20% and 60%. Finally, access to our proprietary, highest quality marijuana genetic strains will provide dispensaries with the most requested varieties, which naturally command a price premium in the world's largest medical marijuana market. Also we cultivate pre-vegetated plants to maximize yield per square foot in the customer's flowering facility. The cost savings and technology which Verde is bringing to the market will by necessity be adopted by a large percentage of LA County dispensaries."

Verde Science will soon launch a research division that will develop marijuana strains specifically targeted towards certain diseases. In conjunction the research division will create medicinal products, pills, tablets, salves, etc. which will be clinically tested on various conditions and ailments for which THC and cannabinoids appearing promising. This will involve various formulations of the drugs as well as determining the appropriate dosing of those drugs. In time this market will likely come under the jurisdiction of the FDA and/or Health Canada. Verde Science will be ready when this happens.

Mr. Sangha concluded, "We are in the process of securing non-dilutive funding to support the growth of our advisory business and will be providing more details on the specifics of the financial model as it solidifies, but Verde will be the general partner of an investment fund that will provide capital to growers to implement Verde's state of the art grow technologies. It is a model that investors and licensed operators are both very excited about. Likewise, we are very enthusiastic about our position in the market and our ability to create a sustainable, recurring revenue stream while bringing quality product and operational efficiencies to our clients' businesses."

About Verde Science

Verde Science plans to take an all-encompassing, integrated public health approach to medical marijuana with a focus on becoming the leader in providing services to legal, licensed cannabis cultivators and dispensaries and their patient community. Verde's focus, in collaboration with its partners, is on deploying ad advanced array of technical services to foster an integrated health care model in California and, over time, other U.S. states.

The Company provides a variety of products and services to its clients by using best practices to ensure the best quality of product, produced with focus on cost control and legal compliance. Verde Science is meticulous, measured and diligent with an absolute focus on compliance while offering growers and their patient community unsurpassed, fully integrated, holistic health care products and programs.

Verde Science is one of the initial corporate players in the medical marijuana industry providing sophistication, controls, standards and innovation. The company has and will continue to assemble a highly experienced team that will deploy state-of-the-art technology and a superior methodology to enter and take meaningful market share that can be repeated and expanded as more and more jurisdictions adopt legal use of cannabis products to address health care issues.

Safe Harbor Statements
Certain information contained in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates", "intends" or "believes", or that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", or "be achieved".

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the alternative medicine industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Even though you are running an agile development process, that doesn’t necessarily mean that your performance testing is being conducted in a truly agile way. Saving performance testing for a “final sprint” before release still treats it like a waterfall development step, with all the cost and risk that comes with that. In this post, we will show you how to make load testing happen early and often by putting SLAs on the agile task board.
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, will discuss how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the ...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as...
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
eCube Systems has released NXTmonitor, a full featured application orchestration solution. NXTmonitor, which inherited the code base of NXTminder, has been extended to support multi-discipline processes and will act as a DevOps utility in a heterogeneous enterprise environment. Previously, NXTminder was packaged with NXTera middleware to configure and manage Entera and NXTera RPC servers. “Since we are widening the focus of this solution to DevOps, we felt the need to change the name to NXTmon...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
Moving an existing on-premise infrastructure into the cloud can be a complex and daunting proposition. It is critical to understand the benefits as well as the challenges associated with either a full or hybrid approach. In his session at 17th Cloud Expo, Richard Weiss, Principal Consultant at Pythian, will present a roadmap that can be leveraged by any organization to plan, analyze, evaluate and execute on a cloud migration solution. He will review the five major cloud transformation phases a...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.