BizAuctions, (BZCN: OTCPK) has been taking steps to position themselves to become a player in the rapidly growing cannabis industry.
Written By: Michael Berger
The company recently filed an amendment to their Articles of Incorporation with the State of Delaware. The amendment stated that BZCN is changing their name to CannaGrow Holdings, Inc., which will take effect on November 1, 2014.
BZCN is led by CEO Delmar Janovec, who states, “We have been working diligently over the last several months with consultants and counsel to move forward with the new Colorado Project. Dr. John P. Janovec, Consultant to the Company, has been instrumental in this process with his extensive knowledge of Botany along with his Horticultural experience. The Company expects to be making some very exciting and significant announcements in the near future as we finish dotting the “i’s” and crossing the “t’s” on contracts, leases, and agreements.” Dr. John P. Janovec who earned his Ph.D in Botany from Texas A&M University in 2000 has 20 years of experience in biodiversity research and conservation support, as well as agroforestry and community education. He has years of experience working and leading teams in a variety of different and extreme agricultures and has had many research papers and books published by pristine universities. Dr. Janovec, has performed years of field work in countries in South America such as Belize, Bolivia, Brazil, Costa Rica, Ecuador, and Mexico. His experience in the field of botany provides us with assurance that working in Colorado should be a breeze.
The writing was on the wall with what the company was doing and we believe that they did their due diligence to ensure that they make a smooth transition into the cannabis industry. During mid-July, BZCN signed a lease for an office in Centennial, Colorado. This move comes only a few days after the company entered into an agreement with Hoban & Feola, a law firm based out of Colorado that specializes in providing legal advice for companies that want to enter the cannabis industry. A few days after they signed the lease, BZCN hired a consultant with a Doctorate in Botany and a Bachelor of Science in Agriculture to assist the company explore potential opportunities in the medical and recreational cannabis industry in Colorado. Shortly after meeting with the consultant, the company hired, Rod Clawson, a logistics manager of a 30,000 sq. ft. botanical and plant facility as an officer to oversee the company’s expansion into the Medical-Recreational Cannabis industry.
BZCN kept things pretty close to the chest prior to making all of these moves. In early June, BZCN provided a shareholder update which stated that the company was refining their business model and exploring new opportunities. A few days later the company filed notice of corporate action with FINRA where they reported an amendment to their articles of incorporation. Concurrently, the company reduced the total number of authorized shares from a whopping twenty billion to two billion, a great move in our eyes. Up to this point the company never stated that they were entering the cannabis space but you could tell that a change was coming.
Technical420 is favorable on the moves being made by BZCN and we think that they are taking steps in the right direction. They filed disclosure statements with OTC markets for their 2013 annual year and for the first quarter of 2014 towards the end of June. If BZCN continues along this path we see the potential for up-listing to the OTCQB, which will provide investors will increased transparency and visibility into their growth initiatives. For investors that have a stomach for risk, BZCN may be right up your ally. They offer the potential for high returns over a short period of time if they continue to act on initiatives set by management. We would like to encourage readers to put this one to the test…read the following press releases and see if you come to the same conclusion… BZCN might very well be on their way to becoming a contender in the Colorado Cannabis Industry.
Recent Press Releases:
BizAuctions Files Name Change Amendment
BizAuctions Files Name Change Amendment Accesswire (Fri, Oct 3)
BIZAUCTIONS INC Financials EDGAR Online Financials (Thu, Sep 4)
BizAuctions-Hires Executive to Oversee Expansion into Colorado
BizAuctions-Hires Executive to Oversee Expansion into Colorado Accesswire (Thu, Jul 31)
BizAuctions-Hires Consultant to Assist in Exploring Opportunities in Colorado
BizAuctions-Hires Consultant to Assist in Exploring Opportunities in Colorado Accesswire (Fri, Jul 18)
BizAuctions-Signs Lease for Office in Centennial, Colorado
BizAuctions-Signs Lease for Office in Centennial, Colorado Accesswire (Tue, Jul 15)
BizAuctions Executes Engagement Agreement With Hoban & Feola, LLC Law Firm in Denver, CO
BizAuctions Executes Engagement Agreement With Hoban & Feola, LLC Law Firm in Denver, CO Marketwired (Fri, Jul 11)
BizAuctions Files Disclosure Statements With OTC Markets
BizAuctions Files Disclosure Statements With OTC Markets Marketwired (Mon, Jun 30)
BizAuctions Files Notice of Corporate Action With FINRA
BizAuctions Files Notice of Corporate Action With FINRA Marketwired (Thu, Jun 19)
BizAuctions — Shareholder Update
BizAuctions — Shareholder Update Marketwired (Mon, Jun 16)