General Cannabis, Inc. (OTCBB:CANA.ob – News), (OTCQX: CANA) of California, a technology-based Internet marketing services company, is making huge moves in the medical marijuana industry. Recent activities include the acquisition of WeedMaps (December 2011) and MMJMenu (November 2011). WeedMaps can be described as the yelp of medical marijuana dispensaries and MMJMenu is one of the most trafficked medical marijuana websites that offer point of sale and supply chain management software in the United States. WeedMaps had just acquired the domain name marijuana.com in late November 2011 and the Android Application WeedLaws in early December 2011. “WeedMaps’ continuing growth validates our ability to generate significant revenue through Internet portals that serve niche markets, even as the current economy and overall market conditions remain volatile,” said Doug Francis, President of General Cannabis. “Clearly, our many offerings, including smartphone applications, offer winning solutions for those in the medical cannabis community. As a result of our successes, we strongly believe that we can leverage our technological platform and systems into other industry sectors.”
It is no secret that General Cannabis is experiencing record setting revenues with third quarter earnings published at $4.1 million, a year-over-year increase of 106%, compared with $2.0 million for the third quarter of 2010, and an increase to $10.4 million for the nine months ending September 30, 2011, an increase of 87%, from $5.5 million for nine months ended September 30, 2010.
About General Cannabis
General Cannabis, Inc., a technology-based Internet marketing services company, offers customers an integrated suite of services including media, technology, marketing and information. Founded in 2010, General Cannabis is headquartered in Newport Beach, California. The Company’s common stock trades on the OTC market’s highest tier, OTCQX, under the ticker symbol “CANA.” www.GeneralCannabis.com