Cannabis Investor Volume 6

CANNAINVESTOR
Magazine
JUNE 2016
PROVIDING INFORMATION AND RESEARCH TO CANNABIS INVESTORS
CLS HOLDINGS USA, INC.

THE GOLD STANDARD IN CANNABIS
EXTRACTION AND CONVERSION
OTCQB: CLSH
>
One World Pharmaceutical
(OWCP) Israeli-based Leading Edge Cannabis Research
> Indoor Harvest Corp.
(INQD) Designing and Building the Farms of the Future
> FutureLand Corp.
(FUTL) Giving Growers the Opportunity to Grow
Featuring: MYDX INC.
(MYDX) Trust & Verify
MASSROOTS
(MSRT) DENIED
LISTING ON
THE NASDAQ
EXCHANGE
TOP 5 THINGS ALL INVESTORS

SHOULD LOOK FOR WHEN REVIEWING A CANNABIS
COMPANY
INVESTING IN
THE CANNABIS
INDUSTRY
FROM A RETAIL
INVESTORS PERSPECTIVE
INSIDE: CI Magazines Top 20 Stock Picks
table of
CONTENTS
09
17
19
23
33
37
CLS HOLDINGS USA, INC. (CLSH)
The Gold Standard in Cannabis Extraction and Conversion
CONCENTRATES LEAD FIRST-QUARTER

Cannabis Growth in Colorado, Washington State
By: BDS Analytical
MASSROOTS (MSRT) DENIED LISTING ON THE

NASDAQ EXHANGE
By: Derwin Wallace
ONE WORLD CANNABIS (OWCP)
Israeli-based Leading Edge Cannabis Research
TOP 5 THINGS ALL INVESTORS SHOULD LOOK FOR

When Reviewing A Cannabis Company
By: Nic Easley
INDOOR HARVEST (INDQ)
Designing and Building the Farms of the Future
CANNAINVESTOR Magazine
46
52
54
62
63
INVESTING IN THE CANNABIS INDUSTRY

From A Retail Investors Perspective
By: Louis Kyron
MYDX (MYDX)
FUTURELAND CORP. (FUTL)
Giving Growers the Opportunity to Grow
UPCOMING EVENTS
Calendar
CI MAGAZINE TOP
TOP STOCK
STOCK PICS
PICKS
CANNAINVESTOR
Magazine
www.cannainvestormag.com
Editor In Chief
Graciela Moreno
[email protected]
Deputy Editor
Derwin Wallace
[email protected]
Contributing Writers
BDS Analytics
Nic Easley
Louis Kyron, CPA
Sales Officer
Miikii Johnson
[email protected]
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EDITORS NOTE
very special THANK YOU to all of our subscribers, partners,

and contributors for embarking on this new endeavor and
making this Magazine possible. As with anything new and
innovative, our Premier Issue was quite the buzz around
the Industry; ruffling some feathers, raising some eyebrows, and
receiving praise all at the same time. We understand the landscape of the industry is changing at a rapid pace, and as in other
evolving industries, the participants and players will also change.
As such, we are enthusiastic to have your support as we continue
serving you with great content.
It is with appreciation that I mention the team at The Marijuana
Business Conference & Expo for playing a significant role in one
of our First Magazine Milestones, offering our Magazine access
to the Conference & Expo with our new title as Press.
The event brought together investors, exhibitors, industry professionals and renowned industry experts and speakers such as:
Troy Dayton - The ArcView Group, Trip Keber - Dixie Brands, Emily
Paxhia - Poseidon Asset Management, Tom Quigley - The Gluu,
Gregory Smith - First Harvest Financial, Jeanne Sullivan - StarVest
Partners, and we were delighted to take part.
Heres to many more Firsts and hoping that we continue to add
value to help you prosper.
GRACIELA MORENO
EDITOR
instagram.com/
cannainvestormag/
CannaInvestor Magazine assumes no responsibility for any claims or representations contained in the magazine or any advertisement. CannaInvestor Magazine considers its sources reliable and verifies as much data as possible, although reporting inaccuracies can occur; consequently, readers using this information do so at their own risk. All materials contained are for educational purposes only. Articles are general information and not
a recommendation to act. The author or CannaInvestor Magazine or associated individuals and companies will not be held responsible or be liable for action taken by any reader of our article. Past performance is not a reliable indicator of future performance. Cannabis Stocks involve a higher level of risk and
may not be suitable for all investors, losses can exceed deposits. Please seek independent investment advice before entering into any financial transaction.
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7
CLS HOLDINGS
USA, INC.
The Gold Standard in Cannabis

Extraction and Conversion
CLS Holdings USA, Inc. (OTCQB: CLSH) is a diversified
cannabis company, specializing in the extraction and

conversion of cannabinoids. CLS stands for Cannabis Life
Sciences, as it maintains a proprietary method of extracting
various cannabinoids from the marijuana plant and
converting them into higher quality and quantity. Several
important events have led to the opportunity of a lifetime for
Cannabis Cultivators and Industry Innovators. CLS Labs, Inc.
is poised to make significant strides in the years to come.
For the past two years, Ray Keller, a shareholder of CLS, and
a founder of CLS Labs has been developing a proprietary
method of extracting cannabinoids from cannabis plants
and converting the resulting cannabinoid extracts into
concentrates such as oils, waxes, edibles and shatter.
These concentrates may be ingested in a number of ways,
including through vaporization via electronic cigarettes and
used for a variety of pharmaceutical and other purposes.
He has also created various delivery systems and materials
to ready the converted cannabis product for different uses
by different potential distributors. Mr. Keller contributed
this intellectual property to CLS in exchange for stock in CLS.
The proprietary process is patent pending, with a patent
application having been filed.
P
P
P
P
A Proven/Validated Proprietary Technology

& Method for Extraction & Conversion of
Cannabinoids from a Plant
Resulting in Increased Output from the
Plant and Higher Revenue for Growers
Increased Yield, Higher Quality, More
Consistency
Penetrating the $6B Market & Seeking to
Grow Market Share
CLS Holdings USA, Inc.

OTCQB: CLSH
Denver, CO
Issued & Outstanding: 20.35M
Market Cap: 17.91M
www.clsholdingsusa.com
[email protected]
[email protected]
PRODUCTS & SERVICES

CLS aims to accelerate Cannabis Extraction & Conversion through proprietary methods
while increasing quality & volume/output in a Compliance, Testing & Standardization
Environment.
Processing Revenue:
Arrange with growers to apply proprietary technology to generate cannabinoid concentrates which may be delivered in bulk or in individually-labeled retail-ready packages of oils, edibles, wax or shatter
Charge a flat fee by weight of the finished product or render our services in exchange for a percentage of the finished product which we will then sell to cannabis distributors or dispensaries.
Processing Facilities:
Lease buildings at which to construct processing facilities (Cost est. between US $1M - $3M) built within approx. 4-6
months after any applicable licensing and permitting requirements have been met
Subject to the availability of capital, open 2-3 processing facilities in the next 18-24 months (with the capacity to
process between 2,000 - 5,000 lbs of cannabis/month), for use by licensee or directly
Sale of Products and Brand Creation:
CLS may purchase unprocessed cannabis plants from growers, process the cannabis, then sell the resulting cannabinoid concentrates, such as oils, wax, edibles and shatter to distributors or dispensaries
Eventually, CLS may explore creation of its own brand of concentrates for consumer use
Consulting Services
CLS Consulting will offer consulting services, regarding a variety of areas such as licensure, growing, marketing and
distribution to cannabis-related businesses such as growers and dispensaries
COMPETITIVE ADVANTAGES

CLS patent pending proprietary process is expected to reduce growers costs and provide them with double the amount of Delta-9 THC compared to our competitors.
CLS expects to produce a much larger amount of Delta-9 THC from plants resulting in higher revenues.
The patent pending proprietary process is expected to result in market-changing product consistency.
CLS expects to produce cleaner, safer products as a result of the advanced testing that will be used at its
sophisticated labs.
CLS expects to provide one-stop, multi-state services to companies wishing to build private label brands
that deliver consistent products.
Market Drivers and Opportunity

Legalized cannabis market expected to grow from $7.1B in 2016
to $22.8B in 2020 (Arcview Group)

24 States Legalized for Medical

4 States & Washington DC Legalized for Recreational
Deployments

Licensing Partners Affiliate Completes Construction of Cannabis
Grow in Denver, Colorado

Expect to be Cash Flow Positive from this One Partner in 12
Months
People

Management & Insiders Invested $2.43M To-Date 75% Held by
Management & Insiders
Proprietary Technology & Methods

Proven/Validated Extraction & Conversion of Cannabinoids from
a Plant

Increased Yield, Higher Quality & more Consistency

Disrupting the Market by Increasing Output from the Plant &
Revenue for the Growers
THE COLORADO ARRANGEMENT

April 2015: Licensing Partners Affiliate Executed Agreement & Broke Ground
Sept. 2015: Licensing Partners Affiliate Completed Construction
April 2016: Licensing Partners Affiliate First Harvest
Commercialization Target = Q4 2016
When ramped up at full capacity, CLSs licensing partners affiliate grow facility will occupy 40,000
square feet and consist of 612 Gavita flower lights and 100 Gavita vegetable lights. At full capacity, it will contain 5,300 plants in flower and 2,500 plants in vegetable and produce 600 pounds of
bud and 150 pounds of trim per month.
CLSs licensing partners extraction and processing facility will occupy approximately15,000
square feet and will have the capacity to extract and convert 5,000 pounds per month on a single shift and could be doubled to 10,000 pounds per month with two shifts.
*Licensing Partner is PictureRock who owns the extraction and conversion processing facility (must be owned by a Colorado resident)
*Affiliate is the owner and operator of the grow
FINANCIAL PROJECTIONS
Relationships Lead to Partnerships to Generate Revenue
Per Proposed Processing Facility
(Run-Rate After Initial 12 Months of Operation)
(In $ Millions)
Range
Revenues
$21.0*
$29.9
$35.0
Gross Margin
$14.0*
$19.7
$23.2
Contribution Margin
$13.5*
$19.2
$22.7
Operating Income
$9.0*
$12.5
$14.7
Key Assumptions:
Each facility operates differently depending on state law requirements; directly, indirectly or jointly with others
*1,000 pounds of cannabis processed per month at $20 per unit
50/50 split between bud and leaf
$2,000 cost per pound bud
$300 cost per pound leaf
STOCK PROFILE
Source: Yahoo Finance (For Digital Version Click Chart)
Valuation Measures
Market Cap (intraday):
17.91M
Enterprise Value (May 30, 2016) 18.36M
Stock Price History

Beta:
N/A
52-Week Change3:
N/A
Trailing P/E (ttm, intraday):
N/A
S&P500 52-Week Change:
N/A
Forward P/E (fye May 31, 2016):
N/A
52-Week High (Apr 13, 2015):
N/A
PEG Ratio (5 yr expected):
N/A
52-Week Low (Oct 21, 2015):
N/A
Price/Sales (ttm):
N/A
50-Day Moving Average:
N/A
Price/Book (mrq):
N/A
N/A
Enterprise Value/Revenue (ttm3):
N/A
Enterprise Value/EBITDA (ttm):
N/A
CLSH
INCOME STATEMENT
13
CLSH
BALANCE SHEET
The leader in cannabis business

intelligence and market share tracking
Concentrates lead first-quarter cannabis growth in Colorado, Washington

All major cannabis categories in Colorado and Washington state continued to grow in the first part of 2016,
with concentrates providing the biggest boost to the industry overall. In the first quarter, according to Boulder,
CO-based BDS Analytics GreenEdge point-of-sale data tracking, Colorado dispensaries reached $270 million
in retail sales, a 30% increase over Q1 2015. And in the first two months of the year, Washingtons adult-use
dispensaries rocketed ahead with 175% growth to $81 million (detailed March data for Washington will be
available at the end of May). Washingtons market got off to a slower start than Colorados so the growth looks
huge even if the actual numbers are smaller.
In both states, concentrates led the growth with a 120% increase in Colorado and a whopping 378% rise in
Washington. Consumers are clearly responding to this more discreet and purportedly healthier consumption
method. Combining Washingtons January-February sales with Colorados first quarter, the two states sold
869,000 grams of concentrates last year and nearly 2.5 million this year. At the same time, average selling price
dropped significantly as the increased demand helped manufacturers produce more and spend less per unit
to do so.
With flowers growth significantly smaller than concentrates, especially in Colorado where gram sales rose just
8% in the first quarter of 2016, the green buds share of total cannabis sales is steadily declining. That figure
fell from 71% of all cannabis sales in Colorado in Q1 2015 to 61% in 2016, and from 75% to 65% in Washington,
with most of that share flowing to concentrates in both states. There was one caveat in Washington, however:
Pre-rolled joints gained 5 points of share, rising to 7.5%.
BDS Analy*cs is the leading provider of market intelligence and ac4onable data in the cannabis industry, including
retail sales at the state, channel, category, brand and product levels. Through monthly dispensary repor4ng, BDS
provides 4mely, accurate informa4on at the most granular levels not available anywhere else.
CONTACT:
Dispensaries: Greg Shoenfeld
720-668-8946
[email protected]
Brands and Grows: Liz Stahura

303-641-4759
[email protected]
Corporate: Roy Bingham
727-482-2810
[email protected]
Growing The Next Frontier

American Cannabis Company, Inc. was
founded to meet the needs of the
rapidly developing cannabis industry,
delivering end-to-end soluuons for
clients and customers in both the
medical and recreaaonal use sectors.
We provide industry specic advisory
and consullng services to companies
entering or currently operaang in the
regulated cannabis industries.
Licensing
Planning
Design
Buildout
Market Presence
Marketing Cultivation Operations
Lets Grow Together

303.974.4770
americancannabisconsullng.com
MassRoots (MSRT)
Denied Listing on
the Nasdaq
Exchange
By Derwin Wallace
CANNAINVESTOR Webcast
We wont waste time getting into the details,

however the Nasdaq has denied MassRoots
Inc.s (MSRT) application to list its shares on the
Nasdaq Exchange. Nasdaq officials noted that
although the consumption of marijuana is legal
in some form in 24 states and the District of Columbia, the use, sale and cultivation of cannabis
remains a federal crime.
investors understand bio-techs and their ability

to produce tremendous capital gains. Additionally, institutional investors may feel cannabis
bio-techs are less impacted by state and federal
legislation versus other cannabis subsectors. An
example of this is the University of Mississippi
who has a contract with the federal government
to grow cannabis, and Nemus Bioscience, Inc.
(NMUS) who has a contract with the UniversiThe Nasdaqs reason for denial can be quite ty of Mississippi to conduct cannabis R&D and
confusing and contradictory, considering GW clinical trials.
Pharmaceuticals plc (GWPH), INSYS Therapeutics, Inc. (INSY), Cara Therapeutics Inc. (CARA), NMUS is a cannabis bio-tech company trading
Arena Pharmaceuticals, Inc. (ARNA), and Zy- over-the-counter (OTC), who has raised approxnerba Pharmaceuticals, Inc. (ZYNE) are all imately $5M - $7M from institutional investors
cannabis companies trading on the Nasdaq Ex- in 2015. NMUS is one of a few cannabis comchange. However, I must note that all the above panies trading OTC, who have attracted institucompanies are considered cannabis bio-tech tional investors.
companies, which leads me to believe that institutional investors have a high risk tolerance for What does all this mean for cannabis stocks?
cannabis bio-tech and less of a risk tolerance for Majority of cannabis stocks trade OTC, which
other cannabis subsectors. Maybe institutional subjects these companies to less stringent reg19
ulations than trading on the major exchanges (e.g. Nasdaq and NYSE). Institutional investors try to minimize
risk as much as possible; and investing in companies
that have strict listing requirements minimizes investor
risk. In other words, OTC companies have trouble gaining credibility with institutional investors. Without institutional investors buying an OTC stock there is minimal
shares traded and wide spreads in bid and ask prices
(what you can buy and sell a stock for). For beginner investors, this means that if you buy a stock and turn right
around and sell the same stock, you can lose a significant amount of your investment within seconds or it
can take a long period of time to get back to breakeven.
In short, OTC companies attract day-traders and toxic
investors who care nothing about the companies they
invest in but only care about buying a stock and selling
the same stock as soon as possible to make a profit,
which results in increased volatility (stock price rapidly
increasing and decreasing) with no sustainable increase
in stock price.
Due to these recent developments, we are justified in
including cannabis bio-techs at the top of our CANNAINVESTOR Magazine Top 20 Stock Picks. In addition, we feel as the states and federal government
legalize cannabis, they will also implement strict cannabis testing guidelines and regulations.
Lets be honest, the state and federal governments
first responsibility is the safety of its citizens. Therefore, we are including DigiPath, Inc. (DIGP) and Pazoo,
Inc. (PZOO) in our CANNAINVESTOR Magazine Top
20 Stock Picks. MassRoots Inc. (MSRT) will drop off
the CANNAINVESTOR Magazine Top 20 Stock Picks
and will be added to our Stocks To Watch list.
In summary, we are aggressively bullish in the shortterm for cannabis bio-tech and testing labs and moderately bullish long-term for all other cannabis subsectors.
ONE WORLD CANNABIS

Israeli-based Leading Edge
Cannabis Research
OWC Pharmaceutical Research Corp. (OTCQB:OWCP)
is engaged in the business, through

its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., of
conducting medical research and
clinical trials, in full compliance with
all international regulatory protocols, for the development of cannabis-based products and treatments
specifically designed for multiple
myeloma, psoriasis, fibromyalgia,
PTSD, migraines, and of a unique
delivery system.
One World Cannabis Ltd., is focused
on discovering, developing and
commercializing cannabis-based
novel therapeutics products and
treatments specifically designed for
several medical conditions, starting
with multiple myeloma, psoriasis,
fibromyalgia, PTSD (post-traumatic
stress disorder) and migraines.
One World Cannabis is a young
company that, despite its youth,
is already playing a part in making
history.
The expert team delivers years of

proven practices in diverse disciplines, including medical science
and regulatory affairs, as well as
extensive cannabis-related issues
experience.
One World Cannabis aspires to
become one of the worlds leading
players in the hyper-growing market of medical cannabis by providing the missing yet prerequisite
element of scientific validity for
cannabis based products.
The Company is committed to and
the highest standards of integrity
and ethics in proposing, conducting and reporting research. All its
investigations and researches are
conducted at the facilities of leading
Israeli medical centers, as well as at
the labs of the R&D pharmaceutical companies we contracted with.
The Company adheres to all the
necessary regulatory requirements,
including submitting its research
protocols to Ethics Committee (IRB)
approval.
One World Cannabis is

a young company that,
despite its youth, is already playing a part in
making history.
OWC Pharmaceutical Research

Corp.
OTCQB: OWCP
Petach Tikva, Israel,
Issued & Outstanding: 81.46 M
Market Cap : 4.07 M
52 Week Range : $0.05 - $0.30
www.owcpharma.com
[email protected]
23
When it comes to
medical cannabis,
OWC believes in
science instead of
mythology aiming
to produce pharmaceutical-grade cannabis-based products
and treatments that
are:
Standardized in
composition, formulation and dose;
Administered by
means of the appropriate and efficient
innovative delivery
systems
Tested in properly
controlled pre-clinical and clinical
studies.
Research
One World Cannabis: Research Division for Cannabis
Headquartered in Israel, the birthplace of modern medical cannabis research, the Research Division leverages the Companys extensive network comprising some of Israels leading researchers, scientists, universities and hospitals, as well as cannabis breeders and extractors, to
study and test the effectiveness of different combinations of cannabinoids in the treatment of disease and chronic conditions.
One World Cannabis is focused on discovering, developing and commercializing cannabis-based novel therapeutics products and treatments specifically designed for several medical conditions, starting
with multiple myeloma, psoriasis, fibromyalgia, migraine and PTSD
(post-traumatic stress disorder).
To date, One World Cannabis completed two of three new innovative
delivery systems of active cannabinoids, with its own formulas. The new
delivery systems will be safe to use with controlled dosage and long
lasting quality. The delivery systems will be clinically tested through
OWCs studies.
To date, One World Cannabis has signed three research collaboration
agreements with the biggest academic hospital in Israel, which is also
the largest hospital in the Middle East. Within the framework of these
agreements, the company will initiate pre-clinical and clinical studies
to explore the effect of several combinations of cannabidiol (CBD) and
tetrahydrocannabinol (THC) on multiple myeloma (a cancer of plasma
cells), psoriasis and fibromyalgia.
One World Cannabis will continue to collaborate with other industry
partners, as well as leading academic medical centers, in order to develop, clinically research, produce, and commercialized novel cannabinoid-based therapies targeting a variety of different indications and
effectively help patients in need.
Upon the successful completion of clinical trials and the development
of appropriate dosing forms and delivery systems for pharmaceutical-grade cannabis-based preparations,
One World Cannabis will determine which markets and distribution channels are most suitable for any
given product or formulation. In all cases, the Company will retain the intellectual property rights to proprietary discoveries made in conjunction with its initiatives and seek to secure patent protections.
One World Cannabis filed eight provisional patent applications all related to its line of activity (pharmaceutical formulations; drug delivery; therapeutic uses of cannabinoids and other cannabis compounds), as
well as know-how and trade secrets.
The Company plans to continue to seek patent protection in the United States and other countries for our
proprietary technologies.
Consulting Services
One World Cannabis believes that the complexity of the medical cannabis programs has created a demand for consulting and advisory services in different aspects of the medical cannabis industry. The
Companys services are designed to help government officials, policy-makers and regulatory agencies
develop and implement tailor-made comprehensive medical cannabis programs. In addition, One World
Cannabis offers medical cannabis regulatory compliance services and patient-care consultancy services.
One World Cannabis has secured consulting contract with a group from Maryland called MedMar to pursue the license in Maryland and two more states in the US. The contract generated some income for our
consultancy services and will generate more for two years per state and licensing fees from local manufacturing of its products.
One World Cannabis has the experienced and knowledgeable team needed to develop and implement
a comprehensive medical cannabis program. The company offers policy makers a turnkey project and
plans to work with clients to address all matters related to the medical cannabis program: from drafting
a version of the legislation and regulation tailored to the states specific needs; through running a smallscale medical cannabis program for a trial period; to operating the program nationwide.
The Companys management has the expertise in designing training programs for physicians, caregivers,
and researches that are essential to the establishment of a successful, patient-focused medical cannabis program. By working with policy-makers, government officials, public agencies, and privately owned
businesses, OWC believes they can also raise the publics awareness of the benefits of cannabis-based
treatments and products.
25
STOCK PROFILE
Valuation Measures
17.9M
Stock Price History

Beta:
N/A
52-Week Change3:
N/A
N/A
N/A
N/A
52-Week High (Apr 13, 2015):
N/A
N/A
52-Week Low (Oct 21, 2015):
N/A
Price/Sales (ttm):
N/A
N/A
Price/Book (mrq):
N/A
N/A
N/A
N/A
INCOME STATEMENT
27
BALANCE SHEET
CASH FLOW
29
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GreenWave Advisors brings independent Institutional quality financial research and analysis from Wall Street to the
emerging cannabis industry.
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[email protected]
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31
THINGS ALL INVESTORS SHOULD

LOOK FOR WHEN
REVIEWING A CANNABIS COMPANY
By; Nic Easley
need to understand in order to effectively collaborate on projects. In
this article, well consider five key areas to examine when considering whether to invest or pass.
hile investing in the

emerging cannabis industry offers huge potential and payoff,
its unclear if these opportunities will be a big boom or a bust.
Right now we are seeing trends
similar to the rapid growth of
the tech industry that occurred
in Silicon Valley, and many lessons can be learned from previous booms, bubbles, and busts
when investing in this industry. Those who understand the
cannabis industry have quickly
realized there is specific background information investors
Before examining these five items, there is a dynamic character found in this industry that is imperative to understand. This is
the fact that while 24 states hold medical laws and four states allow
adult use (in addition to the District of Columbia), there are many
unique regulations, ordinances and governing structures specific to
each location, in addition to certain federal guidelines that must be
followed in order to create compliant cannabis companies.
When weighing your options as an investor, first you have to ask
yourself what sector of cannabis you are considering. Are you interested in the hands-on side of cultivation, extraction, and retail, or
do you want to get into ancillary service industries or ancillary product manufacturing? All aspects involve varying levels of risk that rest
mainly on IRC 280E and shifting local, state, and federal guidelines.
Once you have determined which part of the industry youre most
comfortable with and understand local and state frameworks, you
can make informed decisions on where to legally place investments.
The next logical step is to focus on available opportunities and what
to specifically look at when analyzing these opportunities. We will
discuss this in further depth below.
Is it legal in that loca- Competitive Advantion?

tage and Scalability
The most important thing an investor could look at before getting
too deep into any investment or
conversation is to understand the
legal framework. This should not
be overlooked. By studying the
rules and framework for what can
and cannot be done in each state
and local municipality, youll save
yourself a lot of time and avoid
investing in a company that while
seemingly promising, is possibly
operating illegally. For example,
investing into a 10-acre cannabis
cultivation facility in California, at
this point, would be ill-advised, as
there are canopy size and plant
count restrictions currently in
place, with more regulations coming down the pipeline from pending initiatives.
As with any investment (even
more so in the cannabis space),
knowing the local political climate
and keeping a keen eye on the
future is invaluable. In-depth due
diligence in order to understand
regulations that are still in progress, but not yet ratified, is invaluable. Seeking out expert advice
from cannabis attorneys, like Hoban & Feola Law or due diligence
firms such as Gotham Cannabis Associates, that have specific
knowledge about what can and
cannot be done in certain geographic areas is imperative. By
addressing these legal issues first
and foremost, you can avoid an
investment in a project that will
inevitably fail due to legal issues.
The second important issue in

assessing an investment opportunity is the competitive advantage and/or unique intellectual
property in comparison to competitive projects. Assessing the
scalability, market lead, and first
mover advantage of a particular investment, needs to be supported by definitive evidence that
the particular market where the
products or services are being
offered is large enough to accommodate the true growth potential. For example, Speed Weed, a
delivery service in California that
operates in the Los Angeles area,
recently announced a $10 million
investment. By looking closely at
the Los Angeles regulations, you
will find that cannabis delivery in
Los Angeles is illegal. However,
knowing this, the company kept
operating and even secured an
investment. They now have to
shut down operations in the Los
Angeles area by June 6th per the
Los Angeles city attorney.
It is important to ask if the intellectual property can realistically

be protected via a patent application. All proprietary features
and competitive advantages of
the product or service should be
clearly outlined in any of the investment presentations prior to
making an investment. Take time
to review everything from patent
filings, exclusive licenses, distribution relationships, other intellectual property, and the ability to
copyright or trademark elements
of the target company. If a team
has IP and has not taken the time
to protect it, how could they possibly plan on protecting your investment?
Qualify the team

The third issue centers on qualifying the team that will take your
investment into this rapidly shifting industry.

Does the team have background and experience directly working within the Cannabis industry or are they just
starting out?
If they are new to the industry,

are they are utilizing industry
experts to help guide them?
How do they source information?
What makes the team believe

that they can offer a service or
product that truly makes them
differentiated and important
to the industry?
Investors need to look at the

direct experience of the entrepreneurs and management
teams. As the cannabis industry is so new, very few wellversed, experienced teams
exist.
Question the presenting partners if they understand all of

the legal parameters in which
they must operate in order to
legally perform their business.
Perform background checks

on management so you know
with whom you are partnering
Fully evaluate the teams history

and prior ventures, their business
experience, education, and passion to use your investment wisely. This will help the odds of creating a profitable company that
will ensure that the investor gets
a strong ROI.
33
Market Sizing
Analysis
and
Attempting to come up with a

cookie-cutter model that can be
inserted anywhere around the
country simply does not work
based on the overwhelming diversity in cannabis law. A smart,
direct, hands-on cannabis company operating in a state will follow
specific guidelines of that state
and thus cater their business processes to that particular market.
Other business models deal with
the same problems and would
have to adapt to specific state and
county laws, and this is common
practice in agriculture and manufacturing businesses. General
best practices can be established
that are emulated and matched
to a particular market. The cannabis industry is just getting to this
level of maturity and is showing
promise in developing models
that can be adapted to a greater
range of markets.
Wise investors will look for
opportunities in emerging state
markets that show a high potential of acting harmoniously within
the states market models. New
or experienced investors in the
cannabis industry need to look
for companies that can grow
quickly and have the ability to
manage modular high-growth
markets. When investing in an
established company, analyze
revenue and cash flow to ensure
that there is enough capital for
expansion.
As weve seen already above, the
cannabis industry is regulated by
the states in which the businesses operate. When it comes to

marketing, there are very specific cannabis industry rules that
must be followed when it comes
to either licensing, branding, IP,
or franchising. Companies must
know the barriers to entry for
investors and license holders,
the qualifying medical conditions
for patients in the state in order
to get medical cards, and medical cannabis companies understanding patient needs as well as
potential clients in order for the
business to know that they have
a large enough market to sell to
is of utmost importance. Often,
operations that spread around
the country do not consider key
facts about the market that they
are entering and establish themselves too early in markets that
will not produce significant sales
for years.
stimulate growth and generate

revenues as well as prove their
capabilities in handling present
and future financial obligations.
Once you apply your investment
criteria and understand your
investment goals, be sure that
the company can actually achieve
what you need.
The questions below should have
clear and concise answers.

What is the ROI of the investment?

What is your planned exit
strategy?
Is it worth the level of risk
with which you are comfortable?
What are the chances that
this will produce profits for either profit-sharing or become
a candidate for a merger or
acquisition?
Will this company actually
have a chance of effectively
going public?
Are they using models that
are established and tested
in other industries or is the
company just winging it
hoping for the best?
Whats the return of

an investment and the
exit strategy?
An investor also needs to review
the past financial performance
and future projections. Strategic
vetting can be accomplished by
analyzing P&L statements, examining capital allocation and
assessing their goals and strategies for scaling up an investors
capital to expand their business.
If the group has not outlined a
clear exit opportunity for the
investor or thought about where
the company will be in five
years, as an investor, run! The
team needs to show how that
by issuing equity or borrowing
money this capital will be used to
Some companies in the cannabis industry, try to go public too

early just to prove their legitimacy; rarely have these companies
emerged from being legitimized
by their actions. Other companies use sweeping generalizations through marketing and
branding efforts, versus having
their actions legitimized by what
they do. Pay particular attention
weighing what the company says
compared to their past or present accomplishments.
The first rule of investing: dont lose money. The second rule of investing: refer to rule one.
Any early stage company involves some level of risk. The level of risk associated with direct hands on cannabis companies is inherently higher than companies that do not directly grow, process, sell or test the
product. The distinction is purely based on what constitutes a direct violation of federal law.
The Cannabis industry is a minefield riddled with unprepared and inexperienced entrepreneurs seeking
capital to offer their goods and services. Trust that gut feeling if that the investment doesnt feel right,
doesnt match the level of risk that youre comfortable with, or you suspect something about the team and
their history: walk away. The number of opportunities in the cannabis industry are countless at this point.
Nic Easley, contributing writer and CEO of 3C has helped
more than 70 clients design, start up, build, and optimize

their cultivation and commercial cannabis operations. 3C
uses science, research, and education as guiding principles,
prioritizing ROI, profitability and shareholder value while
recommending both socially and environmentally responsible
practices. Nics scientific background, combined with over 15
years of agricultural field and biological experience offers the
industry new possibilities of productivity, profitability, and
professionalism. Over the past nine years - both in Colorado
and nationwide - Nic has been asked to speak and keynote at
multiple industry conferences and contributes to numerous
industry publication.
35
ith extensive R&D and production

collaborations with some of the
worlds most reputable names in
research,
pharmaceuticals
and
food production, Indoor Harvest
maintains a growing design portfolio of Intellectual
Property based on our Modular Racking and High
Pressure Aeroponics platforms.
CANNAINVESTOR
CANNAINVESTORMagazine
Magazine
INDOOR HARVEST
Designing and Building the
Farms of the Future
Indoor Harvest Corp. (OTCQB:INQD) through its

brand name Indoor Harvest, is a full service, state
of the art design-build, engineering, procurement
and construction firm for the indoor and vertical
farming industry. The Company provides production
platforms, mechanical systems and complete turn-key
facilities for both Controlled Environment Agriculture
(CEA) and Building Integrated Agriculture (BIA). The
Companys products are designed for the production
of aeroponic and hydroponic leafy greens, microgreens, fruiting plants, and herbs, as well as for
various other uses, such as horticulture research,
medicinal plant production, pharmaceutical plant
production, plant cloning, and hardwood propagation.
37
The Company collaborates with clients from initial concept and design through build-out and start-up.
Indoor Harvest platform architects, engineers and project managers examine every aspect of a potential
build-out (or upgrade from a legacy platform) and design for a clients specific crop selection using various
Hydroponic production methods with a specialty in High Pressure Aeroponic systems.
The Company has developed an independently tested Biomanufacturing Platform that has shown an
ability to decrease water use by up to 95%, decrease fertilizers by 68%, increase biomass production up
to 150%, dried flower production 46% and increased phytochemical expression by up to 20% for pharmaceutical production of cannabis.
Indoor Harvest Corp.

OTCQB: INQD
Houston, Texas
Issued & Outstanding: 12.06 M
Market Cap : 7.24 M
52 Week Range : $0.30 - $1.50
www.indoorharvest.com
[email protected]
Projects
As of March 31, 2016, the Company signed construction agreements with an estimated value of
$5.4 million and has generated a sales pipeline in excess of $15 million. The Companys projects
are currently evenly split between cannabis and produce related indoor farms and research
platforms. The Companys current revenue comes from both equipment sales and design-build
Partners and Clients

Through its innovative approach and proven technology, the Company has built an impressive list of partners and clients that include: illumitex, Freight Farms, IGES Canada, Ltd., Canopy
Growth Corporation (CGC.V), City of Pasadena, Harris County BUILD Health Foundation, Massachusetts Institute of Technology and University of Arizona CEAC. The Company is also members
of the Association of Vertical Farming and the National Cannabis Industry Association.
THE INDOOR HARVEST LOW TIDE VFRACK SYSTEM IS DESIGNED

SPECIFICALLY FOR FLOOD AND DRAIN OPERATION.
-INTEGRATED LED LIGHTING SOLUTION.
-OPEN SLOT FACE.
-PLUG AND PLAY.
-REDUCED INSTALLATION COST.
THE INDOOR HARVEST VERTICAL FARM RACKING

SYSTEM IS A MODULAR FRAMING SYSTEM ENGINEERED SPECIFICALLY FOR VERTICAL FARMING.
-INTEGRATED LED LIGHTING SOLUTION.
-OPEN SLOT FACE.
-PLUG AND PLAY.
-REDUCED INSTALLATION COST.
OUR FLAGSHIP MODULAR HIGH PRESSURE AEROPONIC SYSTEM
-UP TO A 95% REDUCTION IN WATER USAGE.

-UP TO A 70% REDUCTION IN FERTILIZERS.
-ACCELERATED GROWTH RATE.
-INCREASED BIOMASS.
-INCREASED PHYTOCHEMICAL CONTENT.
-STERILE PRODUCTION. (BY ELIMINATING THE NEED FOR GROWTH MEDIUMS &
SUBSTRATES)
THE INDOOR HARVEST MODULAR AEROPONIC

PLATFORM IS A PATENT-PENDING, FIXTURE-BASED
DESIGN CREATING THE MOST EFFECTIVE PLATFORM
FOR PRECISION CANNABIS CULTIVATION.
-UP TO A 95% REDUCTION IN WATER USAGE.
-UP TO A 70% REDUCTION IN FERTILIZERS.
-ACCELERATED GROWTH RATE.
-INCREASED BIOMASS.
-INCREASED PHOTOCHEMICAL CONTENT.
-STERILE PRODUCTION. (BY ELIMINATING THE NEED FOR
GROWTH MEDIUMS & SUBSTRATES)
IFAIR - INDOOR FARM AIR

CONTROLLED ENVIRONMENT AGRICULTURE (CEA) IS
A SOPHISTICATED PROCESS THAT REQUIRES A SOPHISTICATED HVAC SYSTEM.
39
STOCK PROFILE
Valuation Measures
17.9M
Stock Price History

Beta:
N/A
52-Week Change3:
N/A
N/A
N/A
N/A
52-Week High (Apr 13, 2015):
N/A
N/A
52-Week Low (Oct 21, 2015):
N/A
Price/Sales (ttm):
N/A
N/A
Price/Book (mrq):
N/A
N/A
N/A
N/A
INQD
INCOME STATEMENT
41
INQD
BALANCE SHEET
INQD
CASH FLOW
43
INVESTING IN THE
CANNABIS
INDUSTRY
From a Retail Investors Perspective
By Louis Kyron
In 2014, a newspaper inked investing in marijuana
stocks may be a growth play for the long term, if
you can stand the risk of getting burned in the short
run.
For the longest time investing in this Industry was
left to the Retail Investor to research and select
those companies to invest in. Fast-forward to 2016
and the time is now for the Retail Investor to consider this industry but because only a few companies have Institutional Investment, the majority of
the publicly listed companies are without any Analyst coverage. A successful Retail Investor requires
timely, accurate, reliable information and be both
adaptive and nimble.
IT IS HIGH TIME FOR THE RETAIL INVESTOR!

After years of watching TV shows where hopeful
entrepreneurs pitch their business ideas, it is apparent that there are few places more dangerous
to stand than between a pet owners wallet and the
latest fads for Rascal and Gizmo. Forbes.com (Feb,
5, 2015), in its article on why the marijuana (MJ) industry is prime for the Retail Investor, noted that
Americans spend $1,500 a year on a pet yet the typical cannabis consumer will spend at least 20% more
than that annually.
GROWING FASTER THAN YOUR FAVOURITE HERB

The landscape in just five years will look nothing like
it does today and will be completely unrecognizable

to that of only two years ago. My term for this phenomenon is Ecoforming (terraforming the industry
or economy). Did you think in 2014 that the medical marijuana (MMJ) and recreational use would be
as widely accepted as it is today and would become
the multi billion-dollar industry ideal for the Retail
Investor with very little institutional investment and
no large conglomerates?
It is not very often that an economy sprouts a new
multi billion-dollar industry that is ideal for the Retail Investor. Most budding young companies have
share prices (SP) below $3 and that price along with
other criteria do not meet the thresholds of many
Institutional Investors. The political environment
is uncertain and even precarious precisely what
markets dislike! This environment including the
continuous Ecoforming may explain why there are
currently only three companies that have attracted
Institutional Investors and they are GW Pharmaceuticals plc (GWPH), Canopy Growth Corporation
(TWMJF), and Organigram Holdings Inc. (OGRMF).
Not a surprise to see all three included in CANNAINVESTOR Magazines Top 20 Stock picks! What may
be surprising is that none of these three companies
are American. In fact, it is precisely because of the
American landscape being so uncertain that may
explain why some companies have set up in Canada for their stock market listings despite operations
being in the United States. With the Canadian dollar
currently valued at less than $0.80 American, many
of these stocks may seem value priced.
WHO DOES NOT WANT TO OWN SHARES IN THE NEXT APPLE OR TESLA?
Every Retail Investor dreams of buying shares of a company with untapped market value where an ultra
low investment will translate into early retirement! Is the next Apple or Tesla hiding amongst the weed?
This industry is in such a state of constant turmoil and flux that the current and past environment may not
be relevant. For example, what if a company with a low share price and mounting losses is the beneficiary
of new markets opened up through legislation (edibles becoming legal in Oregon in June for example)?
VERY RECENT EXAMPLES OF ECOFORMING

The number of additional States looking to

legalize or expand (eg: Oregon to legalize
edibles effective June 2016).
Continuous upward revisions on the industry - $35 Billion or more in 2020 in the U.S.
alone.
Germany to legalize MMJ in 2017
DEA could reschedule marijuana soon.
Canada plans to introduce legislation to
legalise recreational use in 2017.
MMJ treatment for schizophrenia

Ground-breaking research in the treatment of Schizophrenia without the
adverse side effects of conventional medications.
Industrys first possible REIT announced.
USA Government drops its forfeiture case
against Haborside Health Center.
FDA to regulate e-cigs and Hookah
NASDAQ declines MassRoots listing
AND many more game changing shocks to the landscape!
A GRASS ROOTS MOVEMENT FUELED BY THE BUDDING RETAIL INVESTOR

For our purposes, we will treat Top to Bottom approach the same as Fundamental Analysis and
the Bottom to Top approach the same as Technical Analysis.
FUNDAMENTALS
RETAIL INVESTOR: LONG/INVESTOR

Politically stable
Economically stable
Industry expected to grow from $6.7B in
2016 to $35B in 2020 and these values are
continuously being revised upwards as
more jurisdictions are legalizing
Financial Statement analysis
Diversified Industry.
Undervalued Companies
TECHNICALS
RETAIL INVESTOR: TRADER

Stocks of some companies have predictable and repeating patterns

Long or Short techniques
Shares of many companies are in high
demand facilitating relative ease to enter
and exit positions.
Stink bids are often successful.
Share prices temporarily move fast (before returning) on both rumour and news.
Challenging due to a lack of history in an continuously changing ecosystem!
47
Referring to those that follow these techniques as

investors and traders can often lead to heated arguments as Traders (including day traders and short
sellers) consider themselves as investors. However, that term is generally used to classify a strategy
to buy and hold investments to accumulate wealth
over a period of time whereas trading involves frequent buying and selling in an attempt to outperform the returns that would be generated through
accumulating wealth over a period of time. The lines
between the two may seem blurred in this industry
because a successful Retail Investor may have a buy
and hold strategy at the industry level yet due to
Ecoforming may be trading shares as well as opening and exiting positions of individual companies
with greater frequency. In other words, such a Retail
Investor may buy and hold at the macro level that
is quite profitable and accomplished successfully by
trading at the micro level.
Fundamental Analysis uses many techniques to derive the value of a company because of its focus on
the companys core business and its future potential. These techniques also apply at the sector and
industry levels. At a basic level, Technical Analysis
uses charts and other data about a stock to detect
repeating patterns and the successful trader times
with near precision when to take a position (long
or short) and when to close that position. To see
this in action, look up the stock price leading up to
and after a private placement or bought deal that
includes the right to acquire shares at low prices for
participants. The primary shortcoming of Technical
Analysis in this industry is the lack of trading history
for many companies and the continuously changing
landscape. However, both techniques can be very
successfully about the same stock at the exact same
price entry point as the successful long term Retail
Investor.
Example: $1,000 invested in Pineapple Express (PNPL) in June 2015 was worth well over
$2,000,000 mid-day on March 31, 2016! A
$2,000,000 investment on March 31 was
worth just over $450,000 on May 3! Any trader that went short when the stock peaked may
have made over $30 a share since that date.
This paradoxical reality, I believe, is once again rooted in the Ecoforming of the industry as the entire
environment of this industry is being transformed
dramatically before our eyes seemingly weekly. The
NASDAQ ruling denying MassRoots to be listed because of what could happen will be a watershed
moment in time but for now has sent shockwaves.
The Retail Investor is far nimbler than the Institutional Investor and can enter and exit positions with
ease.
Market leaders by product or sector will eventually
emerge. Does anyone not think that the giants of
the Alcohol, Pharmaceutical, Tobacco are not watching this industrys framework unfold?
Consolidation through M&A activity occurs in almost
every industry and this will be no different. In 2002,
Graeme K. Deans, Fritz Kroeger, and Stefan Zeisel
published in the Harvard Business Review their work
on The Consolidation Curve. Most industries go
through four stages: Opening, Scale, Focus, Balance
and Alliance. This summary below is succinct and I
invite you to read their work as it is readily available
online. Suffice to suggest, this industry, overall, is
more likely that not in its infancy within Stage 1.
A conclusion of their work was that a key driver to a
companys success depends on just how quickly and
successfully they navigate through these four stages.
Those that fail to or are slow will drop out (ie: fail) or
be acquired. These stages are unavoidable in most
industries just as you need to go through puberty
before becoming an adult it cannot be avoided!
These four stages of the Consolidation Curve may
explain why so many companies in this industry are
not profitable and even struggling to survive despite
often having first-market advantage. These four
stages are a simple truth and are ideal for the astute Retail Investor. For example, Retail Investors in
Bedrocan and Tweed did well when both companies
became a part of the Canopy Growth Corporation (a
holding company).
It may be easier to think of this industry as an ecosystem. The industry is a dynamic, vibrant and
living system that, like all ecosystems, will evolve.
Adaptation skills will determine what survives and
thrives and what does not. This view of the industry is not at all unlike the consolidation curve and
they are complimentary. The Retail Investor is an
integral part of this Ecosystem and also requires an
adaptive mindset to be better positioned to identify
those companies that are most likely to succeed and
to accept the loss of others.
EVEN WEEDS HAVE ENEMIES!

As Easely wrote in in the April 2016 premier issue of CANNAINVESTOR Magazine, investing in the Cannabis Industry is fraught with risk mirroring the cautionary words from that 2014 article so at least in all of
this Ecoforming and political uncertainty that there is indeed one constant in this industry uncertainty and
risk. How can so many companies that were first-market movers in a soon to be multi billion-dollar industry
be struggling financially? Too much too fast? Up against an estimated $50 billion black market? Too many
small companies and therefore economies of scale have not been realized?
The successful Retail Investor can reduce risks by:

1. Always referring to and following the article by Easely/HOW TO AVOID COMMON PITFALLS AND EVALUATE CANNABIS STOCKS FOR INVESTMENT
2. Check SEDAR and other filings regularly.
3. Subscribe to industry, sector, and company news feeds
4. Review bullboards and blogs for what seems to be genuine information (but take great caution).
5. Be prepared for wild fluctuations in share price; M&A activity; change in markets and products; and shocks
to the landscape such as the NASDAQ ruling against MassRoots.
6. If it looks to good to be true it probably is! Watch out for these tell tale signs:

- Hype through press releases

- Lots of promises but nothing being produced

- Private placement after private placement causing dilution and low share prices with the proceeds

used for day to day operations rather than for investment and growth.

- There are few barriers to entry in some jurisdictions and It is not too onerous to crowdfund some

seed money and file an application for a licence and pronounce the company as the latest start up.
7. Accept there are factors outside of your control such as the impact of taxes on demand and black market
competition whether on price and/or product AS well as rulings and even statements made by those in
power.

8. Being the first to buy the shares of a new company as it hits the market may not always be the best move
for the Retail Investor as Retail Traders create price volatility. For example, Canopy Growth Corporation is
a front runner in the industry and picked by many to be one of the top two in the Canadian market yet was
recently the 4th most shorted stock on its Canadian exchange.
49
BUT DOES ALL THAT ANALYSIS

AND RESEARCH REALLY PAY
OFF?
I can only share my experience.
After hundreds of hours of research and analysis and the intent of investing (not trading), I
can truly say that five of my own
holdings are included in CANNAINVESTOR Magazines (April
issue) Top 20 and another is included in the five stocks to watch.
I wanted to diversify and not
spend more than $5 on any stock
in this industry and ideally below
$3. I bought two pharmaceutical companies, two LPs, a social
media tech play, and three from
the Hemp side. When you factor
in I did not want to invest in any
company with a share price over
$5 as well as some of the companies in that list with shares that
cannot easily be bought, if at all,
in my jurisdiction, I actually had 5
of perhaps the 15 or 16 that were
within my parameters.
I intended to invest and not trade.
I recognized the need to be nimble and I have sold positions in
stock only to subsequently buy it
back at a lower price effectively
lowering my average share price.
I saw an opportunity to profit on
another stock on what I thought
had the markings of a Dead Cat
Bounce (google it)! In a landscape
undergoing dramatic Ecoforming,
I recognized that I too needed to
adapt to my surroundings and I
evolved from being stuck in the
Investor mindset to embracing
both aspects (Investor and when
necessary Trader) and although
I am long on the industry and currently on a few companies, I have
accepted the need to exit positions completely and look at companies previously dismissed. The
successful Retail Investor should

think of themselves as part of this
ecosystem and that they need to
also adapt and evolve and not just
be an observer. Being successful
and long in the industry does
not necessarily mean being loyal
to any one company as there is
not set it and forget it here. Time
to test your metal. Following are
two case studies.
Case Study 1:
The Tinley Beverage Company (OTC:QRSRF,

CSE:TNY)
Tinley Beverage Company and
their product that is on the brink
of going to market is Hemplify.
Unlike other companies with only
press releases, there are orders
for this product. Hemplify offers
a unique angle for the marijuana
investor. THC drinks and elixirs
are among the highest-margin
products in the industry, and
hemp CBD drinkables offer an
even larger opportunity because
they are being sold in all 50 states
in regular stores without requiring a prescription. Hemplify is
a uniquely-positioned entrant
in this interesting corner of the
marijuana investing world. Its
flagship product is the world's
first fruit-flavored, sugar-free,
potassium electrolyte and vitamin-rich drinkable CBD product.
With sleek packaging and some
initial celebrity buzz on Twitter,
it's poised to take on the sports,
recovery, hangover and general vitality markets. The Tinley
Beverage Company, plans on
launching THC drinks in similarly
great-tasting and familiar consumer formats to take on the alcohol industry.
The research on CBD and THC in
treating many conditions is compelling and there are more than
170 conditions listed on the web-
site unitedpatientsgroup.com
and the homeopathic/naturopathic and non-prescription treatment market is worth billions of
dollars already and only expected
to grow. When looking through
that list of 170 conditions, many
may be treatable with such a homeopathic approach. A recent
news release titled Tinley Retains
Madflower Creative Group and
Creatrix Labs for Guerilla Marketing, Social Media and Sales and
increased social media buzz suggests that the company may soon
attract even greater attention as
well as increased production and
sales.
Case Study 2:
Canopy Growth
Corporation (OTC:TWMJF, CGC.V)
A CANNAINVESTOR Magazine
Top 20 pick! CGC is actually a
holding company that has attracted institutional investors. One of
their holdings, Tweed, is quite
arguably the most recognized
brand of marijuana in the world.
Tweed has one of its core missions to expand globally as marijuana laws liberalize. Sounds well
adapted to progress through the
four stages of an industry!
Another one of their holdings
in Bedrocan. Bedrocan BV pioneered medical cannabis in
Holland and has decades of experience. They currently are undertaking one of the largest clinical cannabis studies in the world
(the EQUAL study).
Snoop Dog is considered one of
the most seven influential individuals of the industry and he is
an investor in Canopy Growth Inc.
and is listed as one of their partners. Snoop Dog is a pioneer in
the industry and was the first celebrity to launch his own product
line.
Other partners include DNA Genetics, Indoor Harvest (another top 20 pick by CannaInvestor Magazine), and Cannscience.
green investor to investigate for their own learning

not only from the buy and hold Investor perspective
but also from the Trader perspective.
CGC has also started to expand internationally and

recently took a position in Australias Auscann.
They have real assets, real production, real clients,
institutional investors, and their sales are growing
month after month.
Is the industry ripe for the astute and nimble Retail

Investor that accepts the industry as a vibrant ecosystem undergoing continuous Ecoforming? You
decide but you now have help as excellent research
and discussion such as provided by CANNAINVESTOR Magazine will greatly assist and make decision
making less stressful.
The CEO has no qualms predicting his company will

be a billion-dollar company and the data and growth
potential are there In May 2016, the CEO stated
that CGC intends to capture at least 40% of Canadas
market share in part by adapting an Amazon type
model.
MMJ is legal in Canada already and The government
of Canada announced it will introduce legislation in
the spring of 2017 that will pave the way to legalization of recreational use. CGC has the capacity and
capability to the hit the ground running.
As a holding company with cash on hand in this industry CGC can change the game on a dime as already social media and bullboards alike suggest
that CGC has that intangible it factor. CGC has the
potential to do the Ecoforming rather than falling
victim to it.
TNY and CGC are two good companies for both the
savvy industry adept Retail Investor as well as the
THE GREEN RUSH IS NOW!

Regardless of your perspective, goals, and strategy,
the Cannabis industry is absolutely blossoming for
the Retail Investor. It may be generations before
there is another opportunity such as this one. If
you do not have enough to invest in several companies to ensure adequate diversification no worries
as there are several holding companies including a
few in the top 20 picks of this publication including
Canopy Growth Corporation and Organigram Holdings Inc. Also the relative low share prices and low
transaction costs on equity trades means that even
the smallest Retail Investor can make regular recurring small investments to build a position.
Is the cannabis industry a good

investment? You decide!
Louis Kyron CPA, CGA
CSC, CPH
BA Economics
Currently sits on the Board of Not for Profit.
The author does not endorse or recommend any company or industry referenced and their
inclusion is for discussion and illustrative purposes only.
51
Ticker Symbol (OTCQB) MYDX

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Phil Sugarman, VP Investor Relations
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(818) 280-6800
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nd Mark ck, former
Panason
et Deve
[email protected]
ic.
loper to
This document contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities
Exchange Act of 1934, as amended. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this document that are not statements of historical fact may be considered to be
forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but
not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product
testing and launch our product commercially, the acceptance of our product in the marketplace and other uncertainties detailed from time to time in our reports filed with the
Securities and Exchange Commission, available at www.sec.gov.
FUTURELAND
CORP
Giving Growers the
Opportunity to Grow
FutureLand Corp., (OTCP:

FUTL) based in Colorado, is a can-
nabis and hemp specialty zoned land

leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses
on target acquisition, zoning, license
fulfillment, site plan preparation and
financing of cannabis or hemp grow
facilities throughout the United
States. FutureLand gives growers the
opportunity to grow.
The Company monetizes through
leasing the land, leasing the structures on the land, financing interest
revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the
land and the structures in most cases.
The Company leases to both medical
marijuana, retail marijuana as well as
industrial hemp growers.

FutureLand does not currently grow,
distribute or sell marijuana, but is
poised to get directly into the market
very soon with a start in Oregon. FutureLand Corp. just signed a binding
MOU on 78 acres for 50% ownership
to pursue a recreational grow license
in southern Oregon. Additionally,
FutureLand owns 240 acres in southern Colorado where two projects
are already underway. FutureLand is
exploring multiple opportunities in
Oregon, California, Massachusetts,
Washington, Colorado, Australia,
Puerto Rico and Jamaica to further its
business model at this current time.
FutureLand provides the land and
facilities based on client needs and
handles the licensing, approvals, site
plans, facilities, supplies and equipment. FUTL will own and operate
grow facilities through strategic partnerships.
FutureLand provides clients with resources and leadership through the licensing and zoning red tape as well
as site selection, sustainable development of growhouses, and top of the
line equipment to ensure consistently
successful grows. Their industry expertise and partnerships with leading
agritech, technology, and cannabis
companies allow them to make significant options available for growers.
As the laws change and the industry continues to grow exponentially,
FUTL will be there to support clients
as they navigate the challenges and
to celebrate the rewards.
FutureLand Corp.
OTCQB: FUTL
St. Petersburg, FL
Issued & Outstanding: 33.67M
Market Cap:6.73M
52 Week Range: $0.01 - $4.50
www.futurelandcorp.com
[email protected]
Projects
Southern Colorado
FutureLand purchased 240 acres in southern Colorado
where two companies have signed leases and their projects are already underway. The site plans have been
completed on both grow facility lease-holders projects
and they include hoop houses, generators, propane tanks
and a couple 30,000 gallon water tanks. Both lease holders are waiting for an approved water plan that is actively
being sought.
Southern Oregon
FutureLand has signed a binding letter of intent to purchase 50% of a 78acre site zoned for recreational cannabis. The purchase will cost $125,000 and will require additional development costs. It also includes a first right of
refusal on the sale of another 265acre site that has a recreational license pending. FutureLand will apply for the
recreational license to grow cannabis soon after closing.
Developing Projects
Grow Facilities FutureLand will develop a national brand that will become the preeminent name is grow houses. It will purchase equity in poorly managed grow houses already in production or construct new ones.
Dispensaries and Distribution Centers- FutureLand will brand all its dispensaries and distribution centers to build a national
brand and consistent product recognition. These distribution centers will sell both medical and recreational cannabis both
wholesale and retail.
Entertainment Facilities FutureLand will seek entertainment products including restaurants married with cannabis sales as
well as other entertainment venues to create a destination based property.
Medical Usage and Development FutureLand will seek out exciting medical deals within the growing Cannabis industry.
Infused Licensing and Extracts-- FutureLand will be seeking to expand into extracts and infused products as well.
55
Partners
HempTech, (OTCP: HTCO) HempTech, (OTCP: HTCO)
a subsidiary of FutureWorld, is a technology division
catering to the cultivators of industrial hemp market
and medical marijuana where legal. HempTech provides cutting edge technology that allows cultivators
to securely collect and analyze every aspect of a horticultural operation. SPIDer provides Secure Perimeter
Intrusion Detection and is a state of the art security
solution for a cultivation operation. Through proprietary data collection system SmartSense and analytics
dashboard CaNNaLyTiX HempTech provides growers
unparalleled data analysis capabilities for their plants.
SmartNergy not only controls every aspect of electrical usage within a cultivation operation it is actively
managing settings and monitoring usage to make sure
the #1 cost of an operation (Energy) is monitored and
controlled at optimum levels at every stage of processing a harvest. Couple in CaNNaTRaK our ground up
remodeling of a Seed to Sale tracking software system
and master growers will be handed a complete tool set
that can provide the real answer to a growers ultimate
question How did we do that? CaNNaLyTiXs so-
phistication will show the master growers exactly how a

harvest came into being. Virtually every component of
the plants vegetative growth matrix and ultimate flower
harvest is tracked, documented and available in visible
format both in real-time and historically to ensure that
the baselines set by the master grower are adhered to
the cultivation staff. CaNNaLyTiX providing essential
tools to Know Your Grow! HempTech Americas Future Taking Root Today.
Hemp, Inc. (OTC:HEMP) focuses on the vast market
created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. Hemp, Inc.
(OTC:HEMP) is not involved in the cultivation or marketing of medical marijuana. It is the companys belief that
legalization of hemp in all 50 states and at the federal
level will come to pass. With that in mind, the company is building infrastructure with the potential to gain
substantial market share before and after industrial
hemp prohibition ends. (Pending any federal licensing
or other requirements, that may be enacted after hemp
prohibition ends).
STOCK PROFILE
Valuation Measures
Stock Price History
6.73M
Beta:
6.04
Enterprise Value (June 1, 2016)
7.24M
52-Week Change3:
1,900%
N/A
-0.81%
N/A
52-Week High (Jun 18, 2015):
4.50
N/A
Price/Sales (ttm):
N/A
52-Week Low (Jun 17, 2015):
0.01
Price/Book (mrq):
1.00
0.26
N/A
0.38
N/A
FUTL
INCOME STATEMENT
FUTL
BALANCE SHEET
59
FUTL
CASH FLOW
ACANinfo.com
[email protected]
(303) 862-9000
DENVER OFFICE
3200 Brighton Blvd, Unit 114

Denver, CO 80216
BOSTON OFFICE
One Boston Place, Suite 2600

Boston, MA 02108
OTCQX: ACAN
Publicly Traded Company

Fully Reporting
Audited
Innovation for the Next Great Industry
Our Belief in sustainable cultivation and processing practices and our responsibility
towards our community and environment is driven by the core conviction that anyone who
can benefit from safe, regulated access to medical cannabis should have it.
The combination of
services that AmeriCann
provided our company
cannabis expertise in
conjunction with significant
capital, is unprecedented
in this industry.
Justin Anderson
Managing partner of Natures Own
Wellness Center, an AmeriCann
Preferred Partner
PREFERRED PARTNER PROGRAM

MISSION STATEMENT
AmeriCann supports local
businesses to serve cannabis
patients in their communities.
Learn more about the AmeriCann
Preferred Partner Program and how
we help entrepreneurs in regulated
medical cannabis markets.
Forward Looking Statements: This documents contains statements related to our future business and financial performance and future events or developments that may constitute
forward-looking statements. These statements may be identified by words such as expect, look forward to, anticipate intend, plan, believe, seek, estimate, will, project or
words of similar meaning. Such statements are based on the current expectations and certain assumptions of the Company, of which many are beyond AmeriCanns control. These are
subject to a number of risks, uncertainties and factors, particularly those that relate to governmental regulations.
61
MARK
YOUR
CALENDAR
UPCOMING EVENTS
JUNE
CWCBExpo NY
June 15-17, 2016
New York, NY
www.cwbexpo.com
Cannabis Business Summit & Expo
June 20-22, 2016
Oakland, CA
www.cannabisbusinesssummit.com
Viridian Cannabis Investment Searies
June 8, 2016
Fort Lauderdale, FL
www.viridianca.com
JULY
Cannabis Hemp Conference
July 9 - 10, 2016
Vancouver, BC
www.cannabishempconference.com/
Cannabis Business Expo
July 20 - 21, 2016
Seattle, WA
www.imperiousexpo.com
AUGUST
Hempfest
August 19 - 21, 2016
Seattle, WA
www.hempfest.org
CannaGrow Expo
August 28 - 29, 2016
Denver, CO
www.cannagrowexpo.com
TOP STOCK PICKS

1
Zynerba Pharmaceuticals, Inc. (ZYNE)
11
Zoned Properties Inc. (ZDPY)
Cara Therapeutics Inc. (CARA)
12
My Dx, Inc. (MYDX)
Arena Pharmaceuticals, Inc. (ARNA)
13
Hemp, Inc. (HEMP)
INSYS Therapeutics, Inc. (INSY)
14
General Cannabis Corp. (CANN)
Nemus Bioscience Inc. (NMUS)
15
22nd Century Group, Inc. (XXII)
GW Pharmaceuticals pls. (GWPH)
16
Indoor Harvest, Corp. (INQD)
CV Sciences, Inc. (CANV)
17
Surna Inc. (SRNA)
PharmaCyte Biotech, Inc. (PMCB)
18
Medicine Man Technologies (MDCL)
Pazoo (PZOO)
19
Terra Tech Corp. (TRTC)
DigiPath, Inc. (DIGP)
20
American Cannabis Company, Inc.

(AMMJ)
10
STOCKS TO WATCH
AmeriCann, Inc. (ACAN)
Heliospectra AB (publ) (HLSPY)
OWC Pharmaceutical Research Corp. (OWCP)
CLS Holdings USA, Inc. (CLSH)
MassRoots, Inc. (MSRT)
OrganiGram Holdings Inc. (OGRMF)
Canopy Growth Corporation (TWMJF)

Kaya Holdings, Inc. (KAYS)
Blue Line Protection Group, Inc. (BLPG)
Medical Marijuana, Inc. (MJNA)
FutureLand Corp. (FUTL)
63
LATEST NEWS
Pazoo, Inc, Along With Committed Financial Partner,
Pays Off And Consolidates 5 Convertible Notes
Eliminating Those Note Holders From Selling Against Each Other
Florham Park, N.J., June 2, 2016 /PRNewswire/ -- Pazoo, Inc. (OTC Pinks: PZOO) is extremely pleased
to announce that with the help of a financial partner the Company has paid off and consolidated five
convertible notes into one investors hands. This now eliminates these five different convertible note
holders from competing against each other to convert and sell shares into the open market.
It was apparent that each of these convertible note holders felt the need that following conversion
they needed to rush to sell shares because there were numerous other convertible note holders
simultaneously converting and selling stock. In essence, it was a competition by these particular note
holders to sell before the other note holders and drove the price down. With the sales and new
consolidation now complete, there should be a much more orderly market in the trading of Pazoo, Inc.
It is our assertion that this should immediately lead to better shareholder valuations as the overall
companys revenues continue to grow and expand over the remainder of 2016 and beyond.
Pazoo CEO David Cunic stated, It is a major relief to have these particular notes consolidated. We are
very fortunate to have the relationship that we do with this one committed financial partner. While it
was very distressing to see market valuations getting obliterated, I am now very excited at the prospects
of building fundamental value through our expanding operations and seeing that fundamental value
now translate into increased shareholder value.
Safe Harbor Statement:

This update includes forward-looking statements. These forward-looking statements generally can
be identified by phrases such as Pazoo, Inc. or its management "believes," "expects," "anticipates,"
"foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements
herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking statements are subject to certain risks
and uncertainties that could cause actual results to differ materially from those in forward-looking
statement.
SOURCE Pazoo, Inc.
For Investor Relations:
Phone: 973-884-0136
Email: [email protected]
SOURCE Pazoo, Inc.
Release Date: June 2, 2016
Read Full Press Release
MARKET INTELLIGENCE, INVESTMENT BANKING, INVESTOR RELATIONS, AND CORPORATE DEVELOPMENT

SERVICES FOR EMERGING GROWTH COMPANIES IN THE CANNABIS SECTOR.
NETWORK OF RELATIONSHIPS TO AUGMENT

MANAGEMENT TEAMS AND BOARDS.
ACCESS TO INVESTORS, CAPITAL, AND

M&A OPPORTUNITIES.
DEVISE CORPORATE STRUCTURE TO OPTIMIZE

GROWTH AND SHAREHOLDER VALUE.
PROVIDE INTRODUCTIONS TO JOINT

VENTURE & PARTNERSHIP OPPORTUNITIES.
INSIGHT AND KNOWLEDGE OF THE

LEGISLATIVE PROCESS VIA KEY
FEDERAL/STATE/LOCAL RELATIONSHIPS.
BUILD VISIBILITY TO THE INVESTMENT

COMMUNITY AND THE MEDIA.
Hundreds of East Coast investors, dressed in business suits and ties, gathered in New
York to learn more about the cannabis industryin a conference organized by Viridian
Capital just days after New York opened its first medical marijuana dispensaries.
Viridian is blazing all sorts of trails when it comes to the intersection between venture
capital and the cannabis industry.
ABOUT VIRIDIAN CAPITAL ADVISORS, LLC

VIRIDIAN CAPITAL ADVISORS, LLC IS A FINANCIAL AND STRATEGIC ADVISORY FIRM DEDICATED TO THE CANNABIS
MARKET. OUR BANKING PRACTICE, THROUGH BROKER-DEALER PICKWICK CAPITAL PARTNERS, PROVIDES CAPITAL AND
M&A TO FUND THE GROWTH OF OUR CLIENTS, WHILE OUR ADVISORY PRACTICE HELPS TO POSITION AND BUILD THEIR
BUSINESSES. LEVERAGING OUR TEAMS DECADES OF HIGH-LEVEL OPERATING AND TRANSACTIONAL EXPERIENCE ON
WALL STREET, IN INDUSTRY, AND IN GOVERNMENT, WE PROVIDE FLEXIBLE AND COMPREHENSIVE STRATEGIC AND
FINANCIAL
SOLUTIONS
THAT
ASSIST
CANNABIS
ENTERPRISES
IN
REALIZING
THEIR
FULL
POTENTIAL.
BROKER-DEALER SERVICES PROVIDED THROUGH PICKWICK CAPITAL PARTNERS, LLC, A MEMBER OF FINRA AND SIPC
5 BRYANT PARK, 1065 6TH AVENUE, 10TH FLOOR, NEW YORK, NY 10018 - WWW.VIRIDIANCA.COM

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CANNAINVESTOR

PROVIDING INFORMATION AND RESEARCH TO CANNABIS INVESTORS

CLS HOLDINGS USA, INC.

One World Pharmaceutical

(OWCP) Israeli-based Leading Edge Cannabis Research

> Indoor Harvest Corp.

(INQD) Designing and Building the Farms of the Future

> FutureLand Corp.

(FUTL) Giving Growers the Opportunity to Grow

Featuring: MYDX INC.

(MYDX) Trust & Verify

TOP 5 THINGS ALL INVESTORS

INSIDE: CI Magazines Top 20 Stock Picks

CLS HOLDINGS USA, INC. (CLSH)

The Gold Standard in Cannabis Extraction and Conversion

CONCENTRATES LEAD FIRST-QUARTER

MASSROOTS (MSRT) DENIED LISTING ON THE

ONE WORLD CANNABIS (OWCP)

Israeli-based Leading Edge Cannabis Research

TOP 5 THINGS ALL INVESTORS SHOULD LOOK FOR

INDOOR HARVEST (INDQ)

Designing and Building the Farms of the Future

INVESTING IN THE CANNABIS INDUSTRY

Giving Growers the Opportunity to Grow

very special THANK YOU to all of our subscribers, partners,

The Gold Standard in Cannabis

CLS Holdings USA, Inc. (OTCQB: CLSH) is a diversified

cannabis company, specializing in the extraction and

A Proven/Validated Proprietary Technology

CLS Holdings USA, Inc.

PRODUCTS & SERVICES

Market Drivers and Opportunity

THE COLORADO ARRANGEMENT

Source: Yahoo Finance (For Digital Version Click Chart)

Enterprise Value (May 30, 2016) 18.36M

Stock Price History

Trailing P/E (ttm, intraday):

S&P500 52-Week Change:

Forward P/E (fye May 31, 2016):

52-Week High (Apr 13, 2015):

PEG Ratio (5 yr expected):

52-Week Low (Oct 21, 2015):

50-Day Moving Average:

200-Day Moving Average:

Enterprise Value/Revenue (ttm3):

Enterprise Value/EBITDA (ttm):

Source: Yahoo Finance (For Digital Version Click Chart)

Source: Yahoo Finance (For Digital Version Click Chart)

The leader in cannabis business

Concentrates lead first-quarter cannabis growth in Colorado, Washington

Growing The Next Frontier

Marketing Cultivation Operations

Lets Grow Together

We wont waste time getting into the details,

investors understand bio-techs and their ability

ONE WORLD CANNABIS

is engaged in the business, through

The expert team delivers years of

One World Cannabis is

OWC Pharmaceutical Research