Future Farm Technologies Inc (OTCMKTS:FFRMF) has added another 37% in value Wednesday. FFRMF over a five-day span is seeing gains of 170% gaining around $0.75 in that time. The catalyst for this significant increase is the increased footprint in the CBD oil space and now their 10-acre greenhouse space they’ve acquired in Florida. The Sunshine State is expected to see a boom in cannabis sales over the next two years with the market across the state possibly reaching $1 billion.
“Although the Florida acquisition has taken longer than anticipated, we see the Yorkville financing and the revenue-generating acquisition in Florida as major milestones for Future Farm and its shareholders since it puts us in one of the fastest growing cannabis and hemp markets in the country,” says William Gildea, FFRMF’s CEO and Chairman. “We expect that this acquisition will bring Future Farm $2,600,000 USD in revenue and $400,000 USD in EBITDA, which positions the Company for tremendous growth in 2018 and for years to come.”
Future Farm Technologies Inc (OTCMKTS:FFRMF) bills itself as a company that is rapidly becoming a leading indoor plant growth technology player specializing in LED lighting and vertical farming solutions.
Future Farm’s business model includes developing and acquiring technologies that will further its position as a leader in the evolving Controlled Environment Agriculture (CEA) market for the global production of various types of plants.
The Company holds a worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
According to company materials, “The Company’s business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water, and energy regardless of climate, location, or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed-to-sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability”
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According to the release, the greenhouse is in a designated legal grow zone with close proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location. Shareholders will be excited to know that the farm is much more than a “zoned for cannabis” piece of land, but also a fully operational greenhouse business already in full production.
Besides this move into Florida, as we mentioned earlier, FFRMF has used its Maine operation to pioneer some unique CBD tech. The Company also announced that it is preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company to supply over 200,000 clones to the farm in 2018. The hemp clones will also be grown under the Company’s Scorpion LED grow lights, which will save on electricity costs and further leverage its in-house technology.
Sporting a market cap of $991.418K, FFRMF is looking to stay busy on the cannabis front across some enticing legalization states. FFRMF has growing technology that could accelerate some of these plans as well. We will be writing updates soon. Sign-up for continuing coverage on shares of $FFRMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $FFRMF, either long or short, and we have not been compensated for this article.