Make Some Green with Some Green

While in some states marijuana has become legal, it remains classified as a Schedule I substance. This is the ranking given to drugs with no medicinal value and the greatest opportunity for abuse. The only way the drug will be removed from this classification and legalized nationally, will be federal standards on testing cannabis to guarantee quality and safety.

“The federal government is watching the transition of cannabis in certain states from an illegal substance to a legal and regulated consumer product very closely,” commented William Waldrop. William Waldrop is the CEO of Signal Bay, which is a Life Science company whose EVIO Labs are a leader in the growing cannabis quality control testing market. Signal Bay currently operates five of its EVIO Labs in Oregon and California. The company has plans to add 18 more EVIO Labs in California by the end of 2018.

“Critical to the eventual national legalization of marijuana for recreational consumer use will be the federal government’s confidence that there is a strict cannabis testing architecture to ensure that cannabis is regulated, standardized, and safe like alcohol or any other consumer product. This is a responsibility that we at Signal Bay take very seriously, and we believe that we are perfectly positioned to capitalize on the growing need for cannabis quality control testing both in the states in which marijuana is now legal, and for the inevitable legalization of cannabis nationwide.”

Signal Targets a $850 Million Cannabis Testing Market
Investors should be looking at the cannabis quality control testing as the industry is growing and profitable. The industry is expected to reach $850 million by 2020. There are not a lot of leaders in the industry because it is harder to enter the market. Signal Bay knows that this industry is about to grow and have been aggressively buying testing space in Oregon and California. California is the largest legal cannabis marketplace in the world.

Signal Bay’s business model is unique and is similar to an industry leader in clinical laboratory services.
“It’s the hub and spokes model,” simplifies Waldrop. “In each state we have one centralized testing laboratory with other ancillary testing facilities in local markets statewide. The core centralized lab handles the bigger, high dollar testing functions while the smaller localized labs handle collection, sampling, and other testing services. This enables us to develop networks of testing laboratories that operate efficiently within each state.”

By the end of this year, Signal Bay plans to have 5 of its EVIO labs in operation, thus doubling revenues. Signal Bay hopped on the bandwagon at the right time and are going to make a lot of money once this industry picks up even more.