The more than 20,000 samples of Las Vegas cannabis products Digipath Labs has tested lead to a natural evolution of the business. With the data collected as a Nevada cannabis lab testing company we were able to help inspire GroSciences, another division of our parent company, Digipath Inc. Our data has enabled us to recreate labs anywhere with the standard operating procedure we refined from continuous testing since 2015. We have also invented a terpene based pesticide technology, a flavoring technology and a field test kit to determine the THC potency in hemp plants. Listen to Todd Denkin, the CEO of Digipath Inc., discuss how quickly the company has evolved and what the bright future holds on MoneyTV with Donald Baillargeon.
Don Baillargeon: Joining us now via Skype is Todd Denkin. Todd, of course, is the CEO of a company called Digipath Incorporated. D-I-G-P is there stock symbol. Todd, welcome back to the program.
Todd Denkin: Thanks Don, happy to be here.
Don Baillargeon: Well, Todd you know if I go back and watch interviews we’ve done together just recently, I am beginning to see a real pattern. It seems like Digipath has rapidly evolving into a new Digipath with a much bigger business plan. Is that pretty much true?
Todd Denkin: That is absolutely true Don. See our first phase as we opened our initial cannabis testing facility here in Las Vegas was to establish a presence, you know, really create a name and a pedigree. And, really, quite frankly, a brand. That’s what we did. We talked about recently we were named one of the top ten cannabis laboratory companies in the world, which was pretty flattering. And, that’s what we knew we had to do in the very beginning. All along, we also knew that we were going to be collecting tons and tons and tons of data so let’s get organized in the beginning and let’s figure out what this data is going to show us. Phase 2 has kicked in because after over 20,000 samples and all of this data collateral that we have been able to collect this has now launched Digipath 2.0 to exploit and use the leverage of the power of this data with new business units.
Don Baillargeon: Well it’s always good to be part of anyone’s top 10 list. Now, what is the priority going forward? More expansion? More innovation? Profitability?
Todd Denkin: Well, yes, all of the above. We are rapidly expanding into different states, we have some hemp labs going up in the next several months that we have talked about in the past. We have a nice international play happening in Columbia. This we believe is an enormous opportunity for us and our shareholders. For sure, because as we know Columbia is going to be huge player in the cannabis space. It’s going to represent about 44% of the world’s cannabis products and it’s going to export over 40 tons of cannabis products to the rest of the world. So, quite honestly our goal is to use all of these new labs and new ventures all to create more revenue. More revenue, more revenue, more revenue. It’s certainly a goal of ours to create this profitability, for sure. But, we are certainly racing to take our place in the international market space and look to expand around the country as well.
Don Baillargeon: I know we can’t talk about things that are specific about the future but what can investors get excited about in the near term?
Todd Denkin: Well, you are right about that, I can’t be specific, but I can tell you that with regard to all the matters we just talked about we are making really nice significant progress in each of them. It’s not a secret we are opening in new states like we just talked about. It’s not a secret we’re pursuing a big government contract with our mobile hemp and cannabis field tests that Cindy just came out with and we announced. It think it’s an absolutely perfect fit for the cultivator and for law enforcement. We get to tie those two together, right? For the first time. It’s not a secret that we want to be testing products in Columbia and certainly cannabis and hemp products here in the United States as well. So, I would say that if I’m a cannabis investor or more specifically one looking to get in on the cannatech, I think Digipath stands out really as a true market leader especially as with our established presence in the markets, the in-roads, there are so many opportunities. And, I would say keep DIGP on your watch list for sure.
Don Baillargeon: Cannatech, that’s a great term. You should probably think about trademarking that.
Todd Denkin: Ok, we’ll do it.
Don Baillargeon: Once again, Digipath Incorporated, D-I-G-P is their stock symbol. Todd, great update, thanks so much for joining us.
Todd Denkin: Thank you Don, always a pleasure.
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