Cannasys Inc (OTC:MJTK)

Friday, August 29, 2014 | Web News
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CannaSys was originally organized as a Colorado limited liability company in October 2013 and converted to a Colorado corporation in June 2014. Based on their experience for over four years in the medical cannabis dispensary business in Colorado between 2009 and 2013, founders Brandon C. Jennewine and Daniel J. Rogers organized CannaSys to create, develop, and commercialize innovative solutions to solve problems, create opportunities, and streamline the connections between the producer, seller, and consumer/patient segments for the growing medical and recreational cannabis community. CannaSys creates and develops tools and resources to serve this industry as additional states legalize medical and/or recreational use across the nation, these states develop regulatory schemes, and a commercial industry becomes established. As previous retail dispensers, the founders of CannaSys seek to apply and exploit their knowledge and experience to introduce products for this emerging industry, which continues to encounter lack of acceptance from many traditional integral service providers of loyalty programs, payment methods, wholesale supply, and similar items. CannaSys believes the resistance or reluctance of others to enter the cannabis industry provides a commercial opportunity for it.

CannaSys products serve both medical and recreational growers, dispensers, and customers. Product development and introduction focuses on Colorado, where both medical and recreational cannabis is permitted under a developing regulatory regime. Products are also being marketed in Washington (medical and recreational), with future expansion being prepared as cannabis for medical or recreational use becomes legalized and regulated in additional states, such as California, Alaska, Nevada, Oregon, the District of Columbia, and others. CannaSys believes that the movement toward legalization of recreational cannabis will continue and may accelerate.

In addition to organizing and obtaining limited funding for CannaSys, to date, the activities of CannaSys have been limited to identifying possible product opportunities, creating initial products, and initiating product development for limited market launch. CannaSys proposes to market its two initial product concepts: “CannaCash” as an effective choice for cannabis gifts, deals, reviews, and membership rewards for the consumer and “CannaTrade” for wholesale cannabis-related commodities exchange, order-scheduling, and other services for retailers and producers. The availability, functionality, and payment options of CannaSys are tailored based on state and local laws and regulations.

Last updated August 29, 2014