Being in touch with cannabis growers continuously allows us to receive real-time feedback from the market, which is why the THC, THCA, CBD, CBN and CBC measurement is only the beginning. In the near future, we will expand it to other cannabinoids, Terpenes panel and other applications. That is how our opportunity and market will consequently expand.
Financial assumptions and calculation rationale:
- Consider that 10.1M pounds of cannabis are produced each year. Now, for every third pound produced, growers need to take a sample and test it. The process should be repeated every day (at least 5 times) in the pre-harvest week. That amounts to 16.8M tests per year.
(10.1M pounds produced/year / 3 pounds) x 5 testing days = 16.8M+ preharvest tests/year
- Consider there are 66K+ of cannabis growers (and constantly increasing) and the price of the Canabinox Reader is $200, if all growers are reached we can conclude that $13M+ can be generated in Reader sales alone. (If only 50% of the growers decide to use Canabinox Reader our generated profit would be over $6.5M)
66K+ number of growers x $200 Readers = $13M+ from Canabinox Readers
- Consider there are 16.8M+ preharvest tests per year and the cost of our one-time use tester is $15. That amounts to revenue of $252.5M.
16.8 M+ Preharvest THC test/year x 15$ (test price) = $252.5M from Canabinox tests
Sources: www.ocregister.com, www.alaskajournal.com, www.9news.com, legislature.maine.gov, www.oregon.gov, www.rgj.com, data.lcb.wa.gov, www.ilovegrowingmarijuana.com, www.mjbizdaily.com, www.mjbizdaily.com, www.thestar.com, www150.statcan.gc.ca, www.washingtonpost.com, www.med.uottawa.ca, www.mjbizdaily.com, www.med.uottawa.ca, www.growersnetwork.org, www.thoughtforyourpenny.com