American Cannabis Company Inc (OTCMKTS:AMMJ) Is Today's Cannabis Focus

American Cannabis Company Inc (OTCMKTS:AMMJ) has finally caught the attention of pot stock investors. Shares have broken out of their trading range on massive volume as investors start looking for new plays on the coming marijuana Green Rush. What we at Insider Financial find so surprising is that it took investors this long to discover American Cannabis Company.American Cannabis describes itself as offering "end-to-end solutions to existing and aspiring participants in the cannabis industry. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. Through our two vertically integrated businesses, American Cannabis Consulting and American Cultivator Company, a group purchasing organization, we support our clients from concept to creation to commercialization to on-going operations."AMMJ was co-founded by Corey Hollister and Ellis Smith. They are the former owners of The Village Green Society which is a cannabis business located in Boulder, CO. The pair were the first to utilize a niche growing technique known as True Living Organics (TLO) on a commercial scale to cultivate medical cannabis for the Colorado patient market; which was an innovation they received national recognition for. Furthermore, the two partners were able to help the regulated cannabis industry identify a new type of pest/mite; the Hemp Russet Mite.Last month, AMMJ announced that its Las Vegas client, TGIG, has initiated cultivation and processing operations at its production facility, and opened its first dispensary, The Grove, in Pahrump, Nev. The second dispensary for The Grove, located just minutes from McCarran Airport and the Las Vegas Strip, is slated for an April grand opening.In February, AMMJ received notice from the US patent office that the claims of its Satchel patent application have been deemed allowable and the application will now move on to issuance. The issue fee was paid to the patent office on February 18th 2016. Under normal circumstances, it takes about 5-6 weeks for the patent office to issue the patent, assign the patent number and print the patent certificate.

The Satchel is a child-resistant vessel that may be used by dispensaries to assemble orders and ensure the proper post sale handling of cannabis per each state's legislation. American Cannabis Company's Satchel has also been awarded an approval from the American Society for Testing and Materials (ASTM). The Satchel was granted approval after a mandatory two month review and testing process.

AMMJ just filed its 10-K. The report showed revenues increased in 2015 by $1.5 million to $2.79 million. The company's net loss was reduced from $3.6 million in 2014 to just $515k last year. The increase in revenues was primarily due to growth in AMMJ's client base and the establishment of in-house product offerings and third party equipment sales. AMMJ finished 2015 with $555,780 in the bank.In terms of convertible notes, as of December 31, 2015, the convertible notes payable had a $71,500 face value and a discount of $11,248, for a net carrying value of $60,252 which is reflected on the Company’s balance sheet as convertible notes payable, net. As of December 31, 2014, the convertible notes payable had a $71,500 face value and a discount of $46,949, for a net carrying value of $24,551 that is reflected on the Company’s balance sheet as Convertible notes payable, net. The convertible notes payable are convertible into 893,750 shares of American Cannabis Company, Inc. common stock. As of April 11 ^th , 2016, the maturity date on this note has been renegotiated to April 24 ^th , 2018. On April 12, 2016, the Company received notice of partial conversion of this note in the amount of $58,000 convertible into 725,000 shares of restricted common stock at a price of $0.08 per share.Currently trading with a market cap of just $13 million, AMMJ is an exciting story on the OTC markets. AMMJ is just the latest pot stock to catch fire in 2016. Investors are banking on Green Rush 2.0 this year since roughly 14 states could legalize marijuana this year, adult-use cannabis or possibly both, either at the ballot box or through state legislatures. Count on AMMJ to benefit from what is probably the fastest-growing sector in the United States right now. We will be updating Insider Financial as soon as we know more. For continuing coverage on AMMJ, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in AMMJ and have not been compensated for this article.