Pazoo Inc (OTCMKTS:PZOO) informed shareholders it has assumed 100% ownership of the marijuana testing lab Harris Lee LLC. This completes the purchase that was instigated by Pazoo acquiring an initial stake of 45% in Harris Lee. Harris will keep its current management along with adding some key personnel. Pazoo has made a strong and dramatic entry into the marijuana industry seeking to capitalize on the huge growth and growing needs of the marijuana business. The company also announced its partner MA & Associates got final approval to start with the final phase of the addition of an advanced technology security and lighting system for its Las Vegas facility. This provides a two-pronged expansion that grows its reach outside the Nevada borders.
Big Growth And Market
Marijuana testing has been a growing concern for the young industry as regulators and consumers are becoming more demanding of the products contents and potency. Testing facilities are limited and in order to meet the accelerated growth of the industry and demands of evolving regulations, must expand operations and acreage. The marijuana industry has double revenue in one short year and as states move forward to legalize the drug sales increase exponentially. A major shift to legitimate status can be accelerated with the advent of quality and consistent testing for the product.
Powerful Revenue Potential
Pazoo Inc (OTCMKTS:PZOO) also operates a gold standard web portal and community. It is geared towards a health and wellness focus. This adds to the already impressive arsenal of the company but it entry into the Medical Marijuana field may be its ace. Other publicly traded company’s operating in the marijuana venue such as Insys Therapeutics (NASDAQ:INSY) and SURNA INC (OTCMKTS:SRNA) have seen dramatic share appreciation validating the powerful revenue generating potential of the industry.
The stock has been under pressure but has found its base at current levels. Stochastic indicators are showing a low cross over by the fast bands indicating positive action is coming into the shares. The MACD is flat but just below neutral levels indicating downward momentum has been halted. A large volume spike three weeks ago caused some volatility but with the return of normal volume organid and fluid trading has resumed.