The Fresh Toast, a media company focusing on cannabis and other topics, announced Friday that it has entered cash positive territory following the signing of its first medical engagement contract.
Founder and publisher JJ McKay told Benzinga two more contracts of this nature are in the pipeline. The Fresh Toast "engages healthcare professionals with education, online discussions, direct messages and other trusted communication vehicles," he said.
The Fresh Toast said it works with 80% of U.S. practicing physicians, 80% of clinical investigators and 900,000 other healthcare professionals on medical marijuana.
The company plants to expand its base and add interaction with brick-and-mortar physicians’ offices in the U.S. and Canada in the second quarter of 2020.
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Marijuana's Mainstream Acceptance
“Medical marijuana is the most accepted form of cannabis use; the Washington Post recently ran a story that said only 8% of Americans say the plant should be fully illegal,” McKay told Benzinga.
In his view, it’s fundamental for the public to understand how cannabis works, especially now that an estimated 40 million Americans consume it at least once a year, legally or illegally.
Two-thirds of Americans are open to using cannabis if it's federally legal, according to a Pew Research study.
Along with news about becoming cash positive, The Fresh Toast said Friday that more than 2 million people see its content in the U.S. and Canada daily via its site and key syndication deals with Tribune Publishing, Tribune Content Agency and Postmedia.
“As we become cash positive in one division, we expect to rollout our next robust income stream toward the end of second quarter,” McKay said.
The Fresh Toast launched at the end of 2016. The company has since raised $3.5 million from mainstream investors and backers including the Nordstroms and Rockefellers.
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Disclosure: The Fresh Toast is a Benzinga content partner.
Lead image by Ilona Szentivanyi. Copyright: Benzinga.
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