Wrapmail Inc (OTCMKTS:WRAP) shares advanced 20.30% to $0.0800 on Friday and were flat in after-hours trading. Share prices have been trading in a 52-week range of $0.01 to $0.15. The company has a market cap of $15.54 million at 146.01 million shares outstanding.
Earlier in the month, Wrapmail Inc shared plans to delve into the cannabis industry, which is projected to grow to a $20 billion market by 2020. It initially entered into a joint venture with HealthMax Group Inc to develop a proprietary and comprehensive end to end software solution for the cannabis industry, tracking seed to sale, with a complete compliance solution to help the provider adhere to applicable government regulations in which Wrapmail Inc will head development of the software through their Prosperity Systems platform.
Soon after, Wrapmail Inc announced that it acquired 100% of HealthMax Group since it is at the forefront of the hemp market, offering Cannabidiol in its near purest form and infusing consumer products with their proprietary nano-technology. This technology was designed to increase product efficacy significantly over just CBD alone, creating products that are lab tested to be 99% pure and consistently rated among consumers as their favorite.
“I am very proud of the progress we’ve made in the hemp industry over this short time span, as well as our advancements in nano-technology delivery of our imported all-natural hemp. HALO CBD is medicinal grade CBD, which is clear and does not have the harsh hemp taste, black color, residual solvents or toxic fillers like many competing products. Some analysts are projecting a 2-billion-dollar market for the hemp industry, and I think we are poised to be a leading competitor in this market with the addition of our multi-spectrum and nano-technology infused formulations. With our new expansion into large-scale production and by engaging the larger food and beverage industry with multiple first-to-market products, HealthMax endeavors to disrupt the market and set the bar for higher quality standards across the board. What we do here is important for the health outcomes of people here in America and across the globe, and I am very proud of our team,” said HealthMax Group Inc President David Posel.
“After getting to know David and the HealthMax team over the past month, we concluded this acquisition was a great opportunity for HealthMax to enter the public markets, and an incredible value proposition for our shareholders. Utilizing our collective resources, it’s with great enthusiasm we enter into this transaction,” added Marco Alfonsi, President and CEO of Wrapmail Inc.
Wrapmail Inc is a company that provides document, project, marketing and sales management systems to business clients through its website and software. It offers WRAPmail, which is a method, system and software for extracting content for integration with electronic mail. This e-mail templating system that adds graphics and letterhead to everyday e-mails.
Wrapmail Inc offers various solutions, which include WRAPmail Business, WRAPmail Personal and WRAPmail Enterprise. Its Business edition solution is offered to any size organization. Its Personal edition solution is offered to any individual and/or community group. Its Enterprise solution is offered for organizations wanting to host their own environment. It also provides all system integration support for an installation. The company’s system provides click notification alerts and analytical report.