Grow Condos, Inc. Chief Executive Officer, Wayne Zallen, Featured in Exclusive Nasdaq MarketSite Interview at Times Square
Mr. Zallen introduced the Company with a brief overview, reflecting on the various segments of the Company, particularly the corporate real estate division, branding services and financial Services. He proceeded to comment on the statistic revealing that 1 in 5 people or approximately 20% of the US population reside in a legal marijuana state, highlighting market potential for the building of a national footprint. Furthermore, he proceeded to share, based on the Company’s recent “Smoke on the Water” acquisition, that management envisions the building out of a growing number of cannabis friendly destinations. Activities would include yoga, massage, spiritual themes, and amenities would include a general store and the leasing of a dispensary on the property.
In response to an inquiry regarding the Company’s advancement strategy, Mr. Zallen shed light on his ideas regarding the advantage of growth through acquisition. He stated: “The RV industry is very fragmented; full of mom and pop operators, that are basically trading around 3-5% EBITDA, and we’re basically thinking that we can grow this to about 20% EBITDA plus land value. So we see a very fast way to grow our top line in this industry.”
Upon conclusion, in response to Jill’s inquiry regarding his foresight in the political realm and the long-term outlook, he stated: “None of us know what is going to happen with the Trump Administration; that being said, I do think that what’s going on in the industry is that the states that do have legal Marijuana are enjoying the tax benefits from that. I don’t think that they are going to want to see those tax revenues stop. I also think that other states right now are looking at the legal states and thinking that they might want a piece of that pie.” He concluded by eluding to the fact that the analyst projections point to a 50 Billion dollar industry by 2020, giving the Company the ability to develop a substantial national footprint.
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Grow Condos, Inc. recently announced the successful acquisition of one of the territory’s privately owned nature rich vacation spots, Lake Selmac Resort & RV Park, situated in the picturesque heart of Southern Oregon. Located just 20 miles south of Grants Pass, Oregon and 2.5 miles east of the Redwood Highway (Hwy. 199) in Selma, Oregon, Lake Selmac Resort the peaceful exclusive property currently facilitates Fishing, Swimming, Boating, and in addition to RV parking, has Tent Camping & Cabin locations established for accommodation. To view more regarding the property, visit: https://www.lakeselmac.com. Shareholders will be kept updated as events continue to unfold.
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