American Green Inc (OTCMKTS:ERBB) Making Major Cannabis Industry Moves

American Green Inc (OTCMKTS:ERBB) is currently in the midst of a strong upward move. Today, Monday, August 7, 2017, the stock gapped up from the close of $.0016 the Friday before, to open at $.0023, and then shoot up to an intraday high of $.0046 on very strong volume. The stock ended up closing at $.0037. The upward move began on August 3, 2017 at $.0017.

The intra-day high reached a level not seen since the stock made its all-time high of $.0053 on October 26, 2016. The move coincided with an announcement by the Company on August 3^rd that it purchased the town of Nipton, California. Before we get into the details, a little background on the Company for the benefit of those readers that are not familiar with it. American Green, Corp., became, in 2009, one of the first publicly traded technology companies in the cannabis industry. Now, with over 50,000 individual shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis industry. Leveraging our team of professionals in cultivation, manufacturing, extraction, wholesale, retail, and community outreach, the Company strives to develop sustainable initiatives, while increasing shareholder value and company profit. As of Apr 25, 2017, the Company’s name “American Green” has been officially trademarked.Nipton, California is a 100-year-old community in San Bernardino county, California. American Green Inc intends to modernize it into the country's first energy-independent, cannabis-friendly hospitality destination -- all while retaining its historic look and value. American Green is the first company to buy an entire town for the purpose of capitalizing on the emerging cannabis tourism industry.With over 120 acres of potential for development and just 10 minutes off of busy Interstate 15, American Green has taken the first step to transform Nipton into an effective hub for the production of various cannabis-based products as well as possible fully-licensed cultivation which includes a safe and appropriate approach to consumption. Nipton's future plans include setting the standard for energy efficiency and environmentally responsible tourism. American Green intends to expand the existing solar farm, to move Nipton toward becoming a completely energy-independent town, including the development of the town's existing aquifer system for water supply. Pat Carrigan, Chief Operating Officer at American Green commented:

"The Nipton Project has the potential to be one of the biggest initiatives any of us at American Green have undertaken. The project holds great possibilities for our company and for the cannabis industry as a whole. It took the company over 4 months of negotiation with the town's owners to get us here. Even so, the real work begins now. We are ready, willing, and able to accept the challenge at hand."

In other news, American Green Inc announced on Jun 6, 2017 that it completed the formation of a joint venture with Hempful Farms, Inc. of Phoenix. The Joint Venture will allow the company to market and sell Hempful Farms' 'Paw Puddy pet line of CBD products in American Green's online. The line, begun four years ago as a salve for dog's paws (hence its name) is now available in twenty-seven dispensaries in Arizona as well of three of the largest dispensaries in Colorado and in Hempful Farms online store. Opportunities to expand into an equestrian line, something American Green has pursued for some time, as well as the opportunity to work with Hempful Farms' other product lines are all opportunities American Green is interested in pursuing.In our last review of American Green Inc on March 9, 2017, we detailed American Green’s new proprietary verified vending system. On May 8, 2017, the Company announced that following its successful debut of the American Green Machine at the recent NAMA 'OneShow' in Las Vegas, its verified vending system that allows for the purchase of regulated products from a machine will be integrated to nearly all of the market leaders currently manufacturing machines in the United States.On the marijuana cultivation front, on May 4, 2017 American Green, announced that the City of Phoenix Planning and Development Department determined that the Company had complied with the necessarily stringent demands placed on entities wishing to build a legal cannabis cultivation facility, and therefore awarded the required full building permit to the Company. The company can now move forward with medical marijuana cultivation operations.Although the company has unique ideas (i.e cannabis vending machines, cannabis pet products, and buying entire towns) , and is well diversified with respects to the cannabis industry, the financials remain somewhat unappealing. The Company’s latest quarterly financial reports for the period ending March 31, 2017 indicate that revenues and current cash position are very weak, and the stock is highly diluted. Current market capitalization stands at $23.28 million, on 14.55 Billion shares outstanding as of August 4, 2017.Today’s stock price upward move may be an indication that investors are interest. However, American Green Inc will need to shore up its financials going forward. If the company's recent moves pay off, look for the stock to keep climbing. We will be updating our subscribers as soon as we know more. For the latest updates on ERBB, sign up below!For the full story, be sure to check out our complete coverage on ERBB.Image courtesy of Rodrigo Roa via FlickrDisclosure: We have no position in ERBB and have not been compensated for this article.