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Agritek Holdings, Inc. (AGTK)

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Volume306,342
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Market Cap320,395
Beta (5Y Monthly)-1.50
PE Ratio (TTM)N/A
EPS (TTM)-1.0060
Earnings DateMay 16, 2019
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  • Agritek Holdings, Inc. Announces Agreement Between Subsidiary Full Spectrum Biosciences Inc. and California Based Biomedican, to Produce First Yeast Based Cannabinoid Compounds
    GlobeNewswire

    Agritek Holdings, Inc. Announces Agreement Between Subsidiary Full Spectrum Biosciences Inc. and California Based Biomedican, to Produce First Yeast Based Cannabinoid Compounds

    Synthetic CBG Nutraceutical Products in New Test Pilot ProgramLOS ANGELES, CA, Nov. 05, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Agritek Holdings, Inc. (AGTK) (www.AgritekHoldings.com), a fully integrated, active real estate investor and its wholly owned subsidiary Full Spectrum Biosciences Inc., an IP, formulation and white label provider for popular hemp brands RehabRx and Hemp Pops, today announced that Full Spectrum Biosciences and California based Biomedican Inc. (www.biomedican.com) have executed a Letter of Intent and are completing a joint venture agreement for the first test pilot program using Biomedican’s patented biosynthetic methods using yeast fermentation, to ensure the efficient production of high-quality cannabinoid profiles and compounds. As featured in Forbes, Nasdaq and Axios, Biomedican generates cannabinoids and terpenes directly from proprietary yeast without costly plant cultivation or inefficient extraction and purification procedures in a scalable process and operation. Production facilities for biosynthesis cost a fraction of traditional cannabis cultivation and extraction facilities, enabling much more cost-efficient manufacturing within a certified laboratory setting.In contrast to chemically synthesized compounds, the Biomedican natural, organic, non-GMO biosynthetic products are identical to those extracted from plants while offering higher purity than typically found in nature. In addition, the unique proprietary yeast is optimized to produce higher quantities of product at lower cost than competing biosynthetic methods presently being utilized.By the numbers: According to a recent research note from Raymond James, the global cannabinoid biosynthesis market forecasted to be $10 billion by 2025. A number of startups are moving into the biosynthesized cannabinoid space, which Raymond James analyst Rahul Sarugaser has written is "synthetic biology's next killer app."The conventional method of obtaining cannabinoids like CBD involves cultivating cannabis plants that contain the strain wanted, and then extracting the desired chemicals. Because some of the most in-demand cannabinoids occur in very low concentrations in nature, a lot of plant matter is needed, which means production costs can be several thousand dollars per kg.“We are extremely excited to be entering the joint venture with Biomedican and to be one of the few companies chosen for the test pilot program for yeast generated synthetic cannabinoids for our nutraceutical and edible lines as IP of Full Spectrum Biosciences. This is truly next generation science within the cannabis sector and we hope our result driven research through this biosynthesis test pilot program and partnership with Biomedican allows the world wide nutraceutical and big pharma industries to take notice,” stated B. Michael Friedman CEO.“Biomedican has the highest quality and lowest production costs in the industry, which makes us the perfect partner for companies that have large distribution networks in CBD, nutraceuticals, health food, cosmetics and pet care to add our compounds into current products and build new product lines. Agreements like these will deliver turnkey global distribution for Biomedican," says Dennis O'Neill, CIO of Biomedican.In biosynthesis, microbes like yeast and bacteria are engineered to produce large quantities of a single cannabinoid in a fermentation process that works similarly to beer brewing. As a result, biosynthesis companies like Biomedican and Full Spectrum Biosciences will be able to produce expensive CBD, CBG, CBN cannabinoids at a much lower price and without fears of contamination and various factors associated with outdoor/indoor cultivation and large scale grow operations.The Future of Rare Cannabinoids“Soon, CBD will become an afterthought as more potent cannabinoids replace it in medicine, beauty products, food and beverages, and more. Rare cannabinoids like CBG, THCA, CBN, THCV, and more will all contribute to this shift, with CBG being the most highly desired for its versatile applications in both the pharmaceutical and food/beverage industries. Together, these rare cannabinoids will be the new frontier that may makes the global cannabis market a multi-billion dollar sector. CBG will be at the forefront of this rare cannabinoid boom,” stated Maxim Mikheev, CEO and Founder of Biomedican. The new Full Spectrum Biosciences and Biomedican test pilot program will seek to streamline the production pipeline of pure and consistent yeast based cannabinoid compounds, including: CBG, THCA and CBN that are expected to be in high demand by big pharma and the nutraceutical industries across many regions within the U.S. and Canada. The Company expects to complete the joint venture agreement and start the test pilot program before the year end and will jointly seek additional funding through Agritek’s institutional investment advisors to expand production nationally.The global CBD market is expected to reach USD 146.4 billion by the end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future.Browse full research report with TOC on "Legal Marijuana Market Size, Share & Trends Analysis Report By Type (Medical, Recreational), By Product Type, By Medical Application (Chronic Pain, Mental Disorders, Cancer), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/legal-marijuana-marketIncreasing number of companies operating in the marijuana market is expected to bolster the quantity and variety of products reaching the end users. Products like marijuana oil have started gaining traction over the past few years owing to increased effectiveness and safety as compared to smoking it. Also, the growing research in the cannabis industry has led to introduction of new marijuana strains. These advances in new product development is expected to enhance product adoption among consumers. Legal marijuana market is witnessing strong technological and information exchange. Countries like Canada, the U.S., Germany and Australia are expected to emerge as leading markets in terms of sales, whereas countries like Israel are focusing on research and technology development and are leveraging knowledge transfer.Further Key Findings From the Report Suggest:  *  The U.S. legal marijuana market size was estimated at USD 7.06 billion in 2016 and is expected to grow at a CAGR of 24.9% from 2017 to 2025 *  Medical marijuana emerged as the largest marijuana type segment in 2016 and is estimated to be valued at USD 100.03 billion by 2025 *  By product type, marijuana buds segment was estimated to be dominant in 2016 with revenue share of 62.9% and is estimated to be valued at USD 82.9 billion by end of 2025 *  Some players operating in legal marijuana market include; Canopy Growth Corporation, Aphria, Inc., Aurora Cannabis, Maricann Group, Inc., Tilray, The Cronos Group, Organigram Holdings, Inc, ABcann Medicinals, Inc., and Tikun OlamAbout Agritek Holdings, Inc. and Full Spectrum BiosciencesAgritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active real estate investor and advisor of white label brands in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related real estate holdings. The hemp based raw material and products produced at facilities owned by Agritek Holdings and leased back to licensed operators are then used for retail branded CBD, CBG and Hemp oil extract products produced by its subsidiary Full Spectrum Biosciences presently sold via e-commerce, online, Amazon and Doctors offices within the United States. Brands include RehabRX, Hemp Pops, MD Vapes, and multiple white labeled brands. Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act.About BiomedicanBiomedican is a California based life sciences company that generates cannabinoids and terpenes directly from proprietary yeast without costly plant cultivation or inefficient extraction and purification procedures in a scalable process and operation. Production facilities for biosynthesis cost a fraction of traditional cannabis cultivation and extraction facilities enabling much more cost-efficient manufacturing within a certified laboratory setting. The Company’s proprietary technology can revolutionize the cannabinoid supply chain and directly feed into several markets where cannabinoids and terpenes are in high demand. The pharmaceutical potential of cannabinoids cannot be overstated, as the efficacy of cannabinoids has been implicated in treating pathologies with billion-dollar markets in the U.S. alone. The Company recently featured in Forbes, Nasdaq and Axios stated their patented process and low-cost production of such high-value compounds may generate a competitive advantage over traditional forms of treatment for diabetes, cancers, autoimmune disorders, respiratory disease, nervous system disorders, pain, viruses, ADHD, and moreFORWARD-LOOKING DISCLAIMER:This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Agritek Holdings, Inc. to be materially different from the statements made herein.Contact:info@agritekholdings.comwww.AgritekHoldings.com305.721.2727

  • GlobeNewswire

    Agritek Holdings, Inc. Announces Private Placement for Up to $1,500,000 of Common Stock for Maxx eSports Inc. Subsidiary

    LOS ANGELES, CA, July 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Agritek Holdings, Inc. (AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor and white label provider for popular hemp brands, today announced that subject to regulatory approval and formal documentation, the Company is offering a non-brokered, private placement financing (“Private Placement”) for gross proceeds of up to $1,500,000 for its new wholly owned subsidiary Maxx eSports Inc. The Private Placement will be for up to 6,000,000 Units at a price of $0.25 per unit. Each Unit will be comprised of one Common Share in the capital stock of Maxx eSports Inc. and a one Share Purchase Warrant (“Warrant”). One Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.50 per share, which is exercisable for a period of two (2) years from the date of closing.Agritek Holdings recently announced that the Company has formed a new, majority owned subsidiary, Maxx eSports Inc., in preparation for the spin-off and S-1 registration statement of the Company’s present eSports assets. Maxx eSports Inc. has negotiated management contracts and live streaming tournament events with four Tier One eSports Teams based in Europe and Asian markets. Maxx eSports will focus on team management, live streaming events and has negotiated national venues for eSports tournaments in regulated gaming jurisdictions around the world.The proceeds of this Private Placement will be used for current eSports team tournaments, live streaming technology platform, activities, and current general working capital purposes. None of the proceeds of the Private Placement will be payable to non-arm’s length parties, except for general corporate purposes in the ordinary course of business.The common stock and warrants to be sold in this private placement have been offered only to certain institutional and accredited investors affiliated with the Company in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). Neither the common stock nor the warrants have been registered under the Securities Act or any state or other securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws. The Securities and Exchange Commission has not passed upon the merits of or given its approval to the common stock and warrants, the terms of the private placement, or the accuracy or completeness of any private placement materials.  The common stock and the warrants sold in the private placement are subject to legal and contractual restrictions on transfer.If the Offering is over-subscribed, it is possible that a shareholder's subscription may not be accepted by the Company even though it is received. Additionally, in the event of an imbalance of large subscriptions compared to smaller subscriptions management of the Company reserves the right in its discretion to reduce large subscriptions in favor of smaller subscriptions. All shareholders of Agritek Holdings will receive a dividend share of Maxx eSports on the dividend record date when announced upon the S-1 filing expected to be filed in August 2020.“We are getting a very positive response and firm commitments of funds from the majority of our institutional and accredited investors taking part in this private placement raise on behalf of our eSports subsidiary Maxx eSports. I believe we will be able to complete the placement meeting our capital requirements over the next few weeks, allowing us to immediately file the S-1 registration statement and start the “spinoff” process on behalf of our investors and shareholders,” stated Friedman.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.Agritek Holdings is in final review of its financial reports including its 10K Annual Report for December 31, 2019, and first quarter 10Q for 2020 with its registered auditing firm. The Company as reported earlier this month expects to file the reports within the next week and renew its application and uplisting to the OTCQB exchange.About Agritek Holdings, Inc.Agritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active real estate investor and advisor of white label brands in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related real estate holdings. Agritek Holdings recently acquired Full Spectrum Biosciences as a wholly owned subsidiary which manufactures and distributes its hemp-derived CBD products under the Rehab Rx, MD Vapes, Hemp Pops and Higher Society trademarked brands. Full Spectrum brands are currently sold online (www.RehabRx.com) as well as approved for sale on Amazon (www.Amazon.com) currently being sold in the United States and parts of Canada. Agritek Holdings, Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act.About Maxx eSports and iBet Gaming CorporationMaxx eSports and iBet Gaming Corporation intend to offer users in legal jurisdictions throughout the world the ability to participate in esports entertainment and video game tournaments via live streaming events. The eSports market is expected to grow exponentially because of various driving factors, such as the increasing popularity of video games and growing awareness about eSports. Maxx eSports and its division iBet Gaming Corporation is led by a team of industry professionals and technical experts from the online and regulated gaming industries, with a new focus esports. According to Statista, worldwide revenue for eSports will top $1 billion in 2019, continue to grow rapidly in the coming years and by 2022, 650 million people are expected to be watching eSports online.FORWARD-LOOKING DISCLAIMER:This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Agritek Holdings, Inc. to be materially different from the statements made herein. Agritek Holdings Inc. undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law.  In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and AGTK’s actual results could differ materially from those anticipated in these forward-looking statements.Contact: Agritek Holdings, Inc. www.AgritekHoldings.com 305.721.2727