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PhytoSphere Systems LLC – is the worlds leading cannabinoid based bio-technology Company. The company recently entered into an agreement with CannaVest Corp (OTC:CANV) for the rights to use its brand name PhytoSphere Systems, along with the outsourcing to CannaVest its hemp facility cultivation, management and processing. The company is still owned eighty (80%) percent by Medical Marijuana Inc., and as part of the transaction MJNA became a significant shareholder in CANV.
PhytoSphere Systems will still play a significant role in the company's overall game plan, with the licensing and outsourcing to CannaVest, the company is able to save nearly ten (10M) million dollars of additional infrastructure and development costs in the first two quarts of this year alone. In addition to saving a significant amount of capital, the company was able to streamline its corporate operations by not having its focus diverted by a multi-country multi-continent highly management intensive business, while still allowing MJNA and its subsidiaries a constant supply of these high quality ingredients, just above manufacturing and infrastructure costs and well below wholesale and retail pricing.
As the demand for CBD-based products continues to grow, PhytoSphere is constantly expending their operational capacity to meet this demand. Internally, the company is expected to deliver several hundred kilograms of raw Hemp CBD oil this quarter to Medical Marijuana Inc. and the family of companies.
PhytoSphere will offer its raw materials to the open market starting May 1st 2013. With this raw materials sales launch, the company
|SOURCE Medical Marijuana, Inc.|
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