It isn’t all that often that we run across a company in the cannabis sector with as exciting of a story as KAYA HLDGS INC COM USD0.001 (OTCMKTS:KAYS). It’s also rare to find one that has its hands in both the medical and legal marijuana businesses, but KAYS checks that box as well.
Along with its ‘brick-and-mortar’ operations, which led the company to post record revenues in 2016, the company is making preparations to launch a full-scale marijuana delivery service in Oregon for both medical patients and recreational users alike!
KAYA HLDGS INC COM USD0.001 (OTCMKTS:KAYS) announced this week that it had disclosed fiscal year 2016 results of operations by filing its Annual Report on Form 10-K (>>View Filing) for the year ended December 31, 2016 with the SEC. Results of operations in the Form 10-K show that for 2016, KAYS 2016 revenues were just under $1 million, a year-over-year increase of approximately 200% in comparison to 2015.
During 2016, KAYS operated two Kaya Shack™ retail outlets in Portland and South Salem, Oregon, respectively, the second of which in Salem is KAYS’ initial Kaya Shack™ Marijuana Superstore. Since the results reported in the 2016 10-K, KAYS opened its third retail outlet and second Kaya Shack™ Marijuana Superstore in North Salem, Oregon in March 2017 and anticipates opening its fourth retail outlet and third Kaya Shack™ Marijuana Superstore in Central Salem within the next 30-60 days.
Additionally, KAYS reported that they expect their Portland, Oregon location (Kaya Shack #1) to have its OLCC Marijuana Retailer License activated within the next 2 weeks so that recreational sales can commence at that location, which has been limited to medical sales only since January 1 of this year as the new licensing regulations commenced. The activation of this OLCC License, in conjunction with the licensing and opening of the retail outlet in Central Salem, Oregon would bring KAYS to a total of 4 OLCC Licensed Kaya Shack™ retail marijuana stores able to serve both medical patients and recreational customers.
In a related announcement, KAYS confirmed that it has received licensure to operate an unlimited number of Kaya Car™ Home Delivery Vehicles in both Portland and Salem, Oregon and recently took delivery of its first four Fiat 500 cars to begin building their Kaya Car™ Home Delivery Service fleet. The cars are presently being customized with distinctive Kaya Shack™ vehicle wrapping featuring the Company’s branding logos and colors, and the Company is developing the Kaya Shack™ Delivery App for use by its customers to order “Fast, Free Delivery” of the complete line of both medical and recreational grade Kaya Shack™ cannabis products.
“We intend to initiate Kaya Car™ Home Delivery Service within the next 30-60 days, contemporaneously with a grand opening celebration for all four then OLCC-Licensed Kaya Shack™ retail marijuana stores and to commence to move to the next stage of branding and retail development,” stated KAYS’ CEO Craig Frank. “In addition to providing added value and convenience for our customers, extending visibility and building brand recognition for the Kaya Shack™ brand, we believe that Kaya Shack™ Home Delivery provides greater market penetration, by allowing sales throughout the geographic area that our stores are licensed in. There is no limit to the number of delivery vehicles that can service an individual area using just one store as a home base, so in effect we intend to use this service to construct dozens of additional “virtual” Kaya Shacks™ without the added costs of additional brick and mortar locations.” (Source: Globe Newswire)
The biggest caveat with this play is the fact that their projects are so ambitious, but with approval for unlimited delivery vehicles, and a product that will never go out of style, we’ve simply got to keep our eyes on KAYS to have a stellar 2017. Stay up to date on any happenings with KAYS by signing up for our free newsletter. Your information will always be kept safe and secure. Just submit your email into the box below and Street Register will take care of the rest!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in KAYS stock, short or long.