MPX Bioceutical Corporation (MPX.C), an Arizona based cannabis company released its financials today which stated a whopping $14.4 million dollars in revenue this past quarter with a gross profit of $4.9 million. Comparatively, in the same period last year the company generated $4 million in revenue. The company currently has $ 30,688,239 in cash and a market cap of $378.5 million. In an era of huge promises from cannabis startups which may or not be executed upon, MPX has proven itself to be the real deal. No wonder the investment communities are so buzzed about this company.
MPX is currently 3rd with respect to highest revenue last quarter behind Canopy ($25.9 million) and Aurora ($16.1 million). MPX beat out Tilray ($12.6 million), Aphria ($12.1 million), CannaTrust ($9.1million), and Cronos ($3.4 million).
MPX Is Spreading Like Wildfire
Nearly every cannabis company touts it’s “__ company pillars “, or “our multi pronged approach”, or “we are a global cannabis company”, which can read like a cheesy corporate poster. MPX is actually spreading like wildfire into a bunch of interesting areas geographically and vertically.
The MPX brand contains subsidiaries and joint ventures which span across a few different states. Within these companies MPX has and has cultivation, production and retail licenses.
Cultivation & retail: Health For Life isA dispensary chain in the Greater Phoenix Area, and is developing a third, expected to be fully operational by the end of Q2/2018. They also have a grow room with a capacity of 9,000 kg’s. MPX also has cultivation, production and retail licenses in: Maryland, Massachusetts and Nevada. Its next targets are: New Jersey, Pennsylvania and Ohio.
MPX has also spread into Canada with its recent acquisition of the LP Canveda, it’s first fully built-out 12,000 square foot facility, located in Peterborough, Ontario, should have its first crop during the fiscal third quarter of 2019.
Production: Green Mart of Nevada creates cbd oils and skin products under the LK Infusions, and CBD For Life brands. MPX has a joint venture with Salus BioPharma to create smokeless pharma-grade products based out of Israel. In July 2018, MPX entered into an extraction agreement with Case Farms Collective, the largest cannabis processing facility in Southern California. Case Farms will provide full scale cannabis processing services to MPX, with all concentrate products manufactured to MPX’s proprietary specifications and guidelines. The agreement significantly increases MPX’s distribution reach as Case Farms will distribute the MPX-branded cannabis concentrates to its network of licensed dispensaries throughout California.