Interactive Health Network Acquires Cannabis Managed Service Provider
Ryan Allway
June 5th, 2014
News, Top News
[stockchart symbol=”IGRW”]
Interactive Health Network Inc. [stockquote symbol=”IGRW”], a diversified holding company operating in the legal cannabis industry and advanced health supplements markets, recently announced that it acquired a managed service provider operating within the cannabis industry. TBLO became the company’s second managed service provider acquisition and third overall acquisition during 2014.
“IHN has had a strong start to 2014, as we have strengthened our holdings portfolio in the legal cannabis space by executing three strategic acquisitions through our subsidiary, the Cannabis Health Group,” said IHN EVP Cesar Vazquez. “Managed service providers such as TBLO and BIOTEL allow us to provide a more comprehensive offering in the recreational and medical marijuana space.”
Management expects both BIOTEL and TBLO to generate approximately $1 million in annual service revenue each. During the three months ended March 31, 2014, the company reported revenue of $72,824 and gross profit of $24,983. These figures could move significantly higher with the addition of its two acquisitions in the managed service provider space – TBLO and BIOTEL – each generating $1 million.
In recent quarters, the company has also made progress in reducing its number of shares outstanding by 1.825 billion, thereby increasing shareholder value. The fewer number of shares outstanding means that each remaining share holds more value by definition, while the likelihood of future dilution through share issuance is reduced given management’s commitment to cancel excess shares.
Shares of Interactive Health Network jumped 0.23% in mid-day trading on Thursday afternoon and are trading up 560% so far this year.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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