Cannasys Inc (OTCMKTS:MJTK) Making A Comeback

Today, we are featuring again Cannasys Inc (OTCMKTS: MJTK), as judging by the bull action in MJTK’s stock price, it’s time to take a closer look at this name. Company Logo - Cannasys Inc OTCMKTS: MJTKWhat happened?After showing a consolidation share price move for the last five months, it seems that the demand for the stock increased again, which pushed up the share price. Furthermore, the number of shares that changed hands recently was also large; more than 100 million shares some days.Have a look at it before we provide more details: 1 month chart for MJTK 1 year chart for MJTKFor starters, CannaSys is a technology solutions, marketing, and branding company. Its core products include "software as a service" to facilitate point-of-purchase transactions and customer relationship marketing solutions. It is headquartered in Denver, Colorado.Our readers will be remembering that in our previous article called "Cannasys Inc (OTCMKTS:MJTK) A Top Turnaround Pick", we mentioned that the company was signing agreements with companies like Kushmoji, a cannabis emoji business, and negotiating the acquisition of Financial Network, Inc. In addition, we appreciated the announcement of a new pre-marketing campaign for Citizen Toke, its text-message-based marketing platform for cannabis retailers, and the election of a new CEO, Patrick Burke.We said that the company was reorganizing the business and contacting new partners to create a turn around in the share price.As of today, we believe that we were not wrong, as the company seems to be finally pushing up the share price.Recent DevelopmentsWe believe that the market appreciated much the results of Citizen Toke. It seems to be one of the main reasons for sustaining the increase in the share price.This new marketing tool, which was launched thanks to a collaboration with Beta Killers, LLC, is an innovative text-message marketing platform that helps retailers in Colorado communicate with clients. The most important is the following. On October 9, 2017, it was said that Citizen Toke had offered over 1,600 deals with an average response rate of 40%, and conversion rates of 4%.In our opinion, the fantastic results should be able to help the company expand the business not only in Colorado but also in other territories. If it is working well in Denver, we don't see why it may not function likewise in Canada, where many other marijuana companies operate.But, there is more.Clients seem to be satisfied with the tool. In a recent campaign for Sträva Craft Coffee Inc., the blast was sent to 298 people all across the country and 72 users replied to save the deal. Out of these 72 users that replied, 11 customers completed the entire purchase process, which shows how high can be the Citizen Toke's conversion rate.

"What we are really excited about for this platform is not necessarily the revenue generated and ROI for brands and products, although we are very proud of the results with these metrics thus far. For us, the focus of Citizen Toke is in helping brands, products and retailers find new customers that can be then be converted into loyal customers through the quality of the product and purchase experience provided," noted Patrick Burke, CEO of CannaSys

What about the revenues?For those market participants who only care about cash, the company also delivered good news. On November 2, 2017, we got to know that MJTK realized revenues from its Citizen Toke platform, one month ahead of schedule. We expected it after getting to know the good results from previous press releases.Additionally, the company provided names of other clients like Flora's Mercantile, a hemp and CBD-specialty branded products company based in Colorado. 546 people received a message from the company, out of which 20% responded and 9% completed purchases.

"This was an incredibly effective campaign for us. We will be back again, especially as the Citizen Toke network grows. We think CannaSys is really onto something with this marketing platform" remarked Chris Bedrosian, owner of Flora's Mercantile.

We believe that market participants commenced to really look at this name after the company commenced to move out of its beta stage. It was expected that the company would release a fully functional alpha version of the Citizen Toke platform, which, in our opinion, was exciting market participants.As the company said, the platform has proven its viability and scalability and it is now time to increase the client base. As it is logical, the company was said to be evaluating options for the cannabis industry in each state. Be sure to follow this name closely right now, as it is exactly now when things start going much faster.The news that really excited the marketWe believe that the most interesting was released on December 21, 2017. The company finally released a fully functional version of the Citizen Toke platform. It seems that many in the market were waiting for this news, as the share price was pushed up around this date.There is more.Citizen Toke has included loyalty SMS service and premium placement blast service, which will be given to dispensaries free of charge to reach phone numbers they already have collected. The system is quite interesting. Premium blasts will be pre-programmed 'timed' blasts, which will be sent only when a new user becomes active on the Citizen Toke platform. In our opinion, the conversation rates will increase with this new tool and we will need to be alert to see how the new system works. If the results are positive, we should expect new share price increases.Are new acquisitions coming?The company noted that it is increasing the total authorized and available common stock to 12,000 million shares. We usually don't give much attention to such type of announcements, but the words of Mr. Burke, CEO, interested us because he talked about new acquisitions:

"Our proposed share increase will facilitate accretive acquisitions, although we do not have any immediate targets, and provide capital for future funding of our operations" Source

ConclusionCurrently trading with a market cap of $4.5 million, MJTK is an exciting story among small caps. If the company is able to grow its business at the pace of the marijuana industry, the share price should keep going up. Additionally, new acquisitions could increase business growth, increase assets and provide know-how, so we should follow new transactions closely.To sum up, MJTK needs to be on our radar.We will be updating our subscribers as soon as we know more. For the latest updates on MJTK, sign up below!Disclosure: We have no position in MJTK and have not been compensated for this article. We have previously been compensated $10k for a two-day awareness campaign regarding MJTK.Image courtesy of David Gach via Flickr