CFN Media Exclusive Update from FluroTech President and CEO
November 4th, 2019
App, Exclusive, News, Top Story
In the burgeoning cannabis industry, testing companies are often considered the gatekeepers to success. Between consumer demand and regulatory obligations, marijuana producers are compelled to provide a full analysis of what they’re putting on the market and accurate results are crucial. FluroTech (TSX-V: TEST) (OTCQB: FLURF) is a Canadian-based provider of cannabis and hemp testing technology that at its core is dedicated to offering solutions designed to increase safety, awareness, and education. Their patented CompleteTest™ system utilizes advanced fluorescence spectroscopy technology to provide results in minutes for manufacturers right at their facilities.
CFN Media spoke with FluroTech President and CEO Danny Dalla-Longa at the recent MJ Micro conference in Beverly Hills to learn more about some big news recently announced and how the firm’s technology could possibly prevent the next VapeGate.
CFN: You were recently awarded a research license in Canada. What does this mean for the company?
Danny Dalla-Longa: It allows us to acquire and freely test commercial amounts of cannabis and hemp. It was a bigger problem in the hemp market since existing regulations do not allow for the purchase of hemp for testing. We had to go to the hemp growers’ facilities to conduct tests. The University of Lethbridge, for example, is developing 40 different strains of hemp and they have them all analyzed, so that allows us to obtain samples from them to develop our analytical testing protocols.
The license also allows us to accelerate our efforts for a GMP certification application which is planned for submission by the end of Q1, 2020.
CFN: How could firms like FluroTech help prevent issues such as the so-called vape crisis happening right now in America?
DD: Our biotracking technology, which introduces an approved biomarker into the plant, tracks the plant through the entire process enabling the end-product to be analyzed with our CompleTest™ device to determine whether it’s legal or illicit, and which LP legally produced it. We expect that to be a major breakthrough. It’s the same concept as seed to sale, but instead of tracking a package, we’re tracking the plant right through to the end consumer.
We expect regulators won’t require much convincing as to the positives of biotracking. If you grow cannabis or hemp, there’s a need to identify the origin, which may help suppress the black market which can only enhance safety and tax revenue.
CFN: What does the company have on deck for 2020?
DD: Well, we’re looking forward to penetrating the U.S. market, and further adoption in the Canadian market. In Canada, with approximately 200 licensed producers of cannabis and hemp, we plan to cover the market in the next 12 to 18 months. In the US, we’re in discussions with potential joint venture (“JV”) partners to effectively distribute our technology.
Additional offerings are also in development. We do have a cadmium test, which will be commercially available within about a month. Further development of the remaining heavy metals test for Lead, Mercury and Arsenic are next, followed by pesticides and mold. FluroTech is open for further JV discussions to accelerate our development pipeline.
CFN: What else should the readers know about FluroTech?
DD: We currently remain focused on the hemp market especially in the US, our patented biotracking technology and development of further testing protocols which will enhance revenue. Our first sales were just realized near the end of our Q3 in September and anticipate sustained quarterly revenue growth.
We’re also fielding inquiries from companies based in other countries so I can see discussions in the near future regarding sales and JV’s in other parts of the world where cannabis and hemp are legal.
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