Cannasys Inc (OTCMKTS:MJTK) shares surged 92.86% to $0.00270 and were unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $3.00. The company has a market cap of $2.84 million at 1.05 billion shares outstanding.
Cannasys Inc provides technology services in the ancillary space of the cannabis industry. As such, it creates, develops and commercializes solutions to solve customer service and provider problems; creates producer and retailer opportunities, and streamlines the connections among the producer, seller and consumer/patient segments for the medical and recreational cannabis community.
Its products serve both medical and recreational growers, dispensers and customers. These include BumpUp Rewards, BumpUp Rewards White-Label Applications, CannaLIMS and MHB, Inc. Branded Products. BumpUp Rewards is an affiliate-based membership rewards loyalty program designed for the cannabis industry. CannaLIMS is a laboratory management information system product focused on the cannabis marketplace. It has interest in MHB, Inc., doing business as Mile High Brands.
In a press release, Cannasys Inc announced that it has begun its pre-marketing campaign for Citizen Toke, and early indications from retailers are strong. Prior to this, the company received investor financing support which was mostly used to fund the development and early marketing of the Citizen Toke product.
Citizen Toke offers exclusive, instant, gamified promotions in the cannabis space, powered by SMS, making it the most efficient means for retail centers to communicate exclusive promotions to their consumers and to extend brand awareness to current and potential customers.
“The marketplace for cannabis products is becoming increasingly competitive. Marketing tools like Citizen Toke are quickly becoming indispensable for retailers looking to not only expand their customer base, but also to attract and retain new customers,” remarked Cannasys Inc Chief Operating Officer Patrick Burke.
Also, Burke will be elevated to the new role of CEO by next month as he has already shown great success in working with Beta Killers on Kushmoji and Citizen Toke, and investors, including Kodiak Capital Group, continue to support the company’s strategy.