SPO Networks Accelerating Growth
SPO Networks, Inc. (SPOI), a publicly-traded company actively exploring potential acquisitions and opportunities in diversified industries, recently announced it has sold out its initial harvest for its OG Kush genetic seed crop.
Due to the high demand, SPOI engaged a premier groundwater and water resources consulting firm in Colorado to design and permit a water supply for a proposed 30-acre outdoor growth operation adjacent to the Company’s existing greenhouse facility.
Tom Smith, the Company’s CEO, said: “We are both eager and ready to enter this market, and to begin generating revenues in this sector. Initially, the revenues we will be receiving will be wholesale sales to the dispensaries. Dispensaries usually charge approximately 3 seeds for $50 and work on a 50% margin. We will also be opening our own dispensaries in multiple jurisdictions and acquiring more cultivation properties/operations in several U.S. states to further expand our revenue base.”
A report from Data Bridge markets said that:” Global cannabis seeds market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 14.5% in the forecast period of 2020 to 2027 and is expected to reach USD 723.77 million by 2027.
The highly legalized region and demand for cannabis seeds are high; hence revenue generation is also high, helping the market growth in the area. The cannabis seeds market is growing tremendously in the U.S. with the legalization of cannabis in 33 out of 50 states.
Based on distribution channels, the cannabis seeds market is segmented into store-based retailing and online/e-commerce retailing. In 2020, store-based retailing segment dominated as people found it easy to purchase from stores and check the quality of their purchasing products. However, online retailing will increase as people are shifting towards online shopping as they find it convenient.
On the basis of type of vendors, the cannabis seeds market is segmented into resellers, breeders and seeds manufacturing companies. In 2020, resellers segment is dominating as there are a large number of resellers as compared to breeders and seeds companies. Moreover, the growers prefer to purchase the seeds from seeds banks as they have a larger variety.”
Tom Smith Founder SPO Networks Inc. said: “With the extent of the demand we have seen for our seeds (and in anticipation for the demand of flower for our wholly owned dispensaries) we accelerated our growth schedule and decided we needed to add to our cultivation resources. Pending the permits required we hope that have the operation ready by late spring 2022.”
SPOI is a highly diversified company with an established revenue-generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity.
SPOI expects a rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities to wholesale and retail dispensaries.
The Company announced it has Added 65 Acre Landfill Site On Heels Of Its Recent 4.1 Million Dollar Acquisition Of A Revenue Generating General Contracting, Demolition And Hauling Services Company.
The Construction & Demolition Landfill Site Will Service NW Arkansas, NE Oklahoma, Southern Missouri, And Kansas; Site Covers Its Recent Acquisition’s Operating Territory
Tom Smith founded Red Line Contractors LLC in October of 2002. Red Line Contractors is a General Contractor specializing in demolition, utility, and asbestos remediation. Red Line had sales of over 4.1 million dollars in 2020 and expects an increase projected for 2021.
Rick Hall, the Company’s CFO, said: ‘This acquisition lines up with SPO’s objective to invest in diverse industries and will fit nicely with our scrap metal business.’
‘This acquisition will allow us to take advantage of Synergies between the companies and allow me to focus on growing SPO Networks Inc. cannabis operations’ Tom Smith, Founder of Red Line and CEO of SPO Networks Inc.
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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