ADVANTIS CORPORATION (OTCMKTS:ADVT) shares are down 0.49% to $0.0202 and unchanged in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.04. The company has a market cap of $9.31 million at 465.48 million shares outstanding.
Advantis Corporation is a company that focuses on the development of innovative products that supply the medical cannabis, research, and pharmaceutical industries. The company is focused on helping people take control of their health and pain management needs. By creating strategic partnerships with innovative companies in the nutraceutical and alternative health care industries, the company is uniquely positioned to provide the guidance and support to assist in delivering products and services that address the needs of these individuals.
In a press release, Advantis Corporation shared that it filed paperwork in California last week as a first step toward applying for commercial recreational marijuana distribution license.
“There are several new types of licenses that we can apply for ranging from cultivation to distribution,” Advantis Corporation CEO Christopher Swartz said. “We are already servicing clients and partners in the medical cannabis business, and several of them are poised to get their recreational commercial licenses for cultivation and dispensing. Distribution is the license that would apply to us now, and I can foresee that we apply for others, as we assess what we can legally do as an SEC fully reporting company next year.”
Advantis Corporation is preparing for the California state recreational marijuana licensing process and wants to be “first in line” once the state sets the recreational licensing process in motion, according to CEO Swartz. He predicts that the company will be a major player in the state’s marijuana business. “We are already growing exponentially within the medical marijuana space, and with the solid reputation we are earning through packaging and marketing of reliable, quality products, we are poised to smoothly transition our product lines into the recreational space,” he added.
“The two primary revenue streams are currently derived from marketing products to and through collectives, and Amstercan packaging,” Swartz continued. “Our own new rosin press, whose manufacturing process is nearly complete, will likely surpass all other revenue streams overnight.”