Cannabis ROCKY MOUNTAIN HIG COM USD0.001 (OTCMK
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Posted On: 08/14/2017 12:54:52 PM
Cannabis
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) Looking To Make A Comeback
By Richard Sandle
Posted on August 14, 2017
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Massachusetts recently became the first state in the eastern U.S. to legalize the adult recreational use of marijuana. The new law is the result of the successful ballot measure approved by Massachusetts voters in November of 2016, and signed into law by Massachusetts Governor Charlie Baker on July 28, 2017. The “coast-to-coast” trend of states legalizing marijuana continues to move forward. The new laws in California legalizing recreational marijuana are expected to go into effect in January of 2018. As more states become legal, and marijuana becomes more accepted by the general population, marijuana based products such as edibles, CBD oils, and marijuana infused drinks will also become more accepted, eventually creating a robust national market for such products. ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) is positioning itself to capitalize on this impending opportunity.
For those not familiar with Rocky Mountain High Brands, it is a publicly-traded brand management company which specializes in developing, manufacturing, marketing, and distributing high-quality, health conscious, hemp-infused food and beverage products. The Company’s vision is to push the boundaries of what a healthful, functional product should be in order to raise the quality of life for all humanity. The Company’s mission is to recognize how emerging food and beverage ingredients, such as hemp and naturally high alkaline spring water, can be leveraged to create great tasting, functional products that are healthful, safe, and in-demand, and to expand the Company’s product portfolio in response to that demand.
Rocky Mountain High Brands, Inc recently made some changes to its Preferred Stock voting rights and conversion ratios. On July 14, 2017 the company filed a Form 8-K with the Securities and Exchange Commission which noted that The Board of Directors approved an amendment to the Certificate of Designation for its Series A Preferred Stock. The amendment changes the voting rights only of the Series A Preferred Stock from 1,200 votes for every share of Series A Preferred Stock to 400 votes for every share of Series A Preferred Stock. The voting rights were previously amended and increased on March 13, 2017 from 400 votes for every share to 1,200 votes for every share of Series A Preferred Stock. This change provides holders of the Company’s Common Stock a stronger voice in the Company.
The Board of Directors also approved on July 5, 2017 a separate amendment to the Certificate of Designation for its Series A Preferred Stock. The amendment changed the conversion ratio of the Company’s Series A Preferred Stock from 1,200 shares of Common Stock for every share of Series A Preferred Stock to 100 shares of Common Stock for every share of Series A Preferred Stock. The combined effect of these two separate actions by the Company’s Board of Directors returned the voting rights and conversion ratio of the Company’s Series A Preferred Stock to its position prior to the filing of the March 13, 2017 amendment.
Another major change that has taken place at Rocky Mountain High Brands, Inc is the retirement of Founder and Chairman of the Board, Jerry Grisaffi. Effective June 30, 2017, the Company appointed Gerry David as Chairman of the Board. Gerry David’s distinguished career includes serving as the former President and CEO of Celsius Holdings, Inc. CELSIUS® is a fitness drink that accelerates metabolism, burns body fat, and provides healthy energy. Mr. David has over 43 years of experience, with 21 years in consumer products with companies such as HSN Direct, Oragenics and Vitarich Labs. He has personally led three startups, overseeing turnarounds at five companies along with successfully managing businesses spanning 72 countries. Gerry David commented:
“Rocky Mountain High Brands has such great potential as a young company. I am looking forward to working with the management team and rebuilding the brand as we move this company forward to reach its true potential. Our near term focus will be the addition of key management with extensive beverage background and formulating and implementing a strategy for success. I am very thankful for Jerry Grisaffi’s dedication and vision that created this great company.”
The Company has recently conducted two focus groups to learn more about consumers’ opinions on RMHB’s hemp-infused product line offerings and its packaging. The resulting data will be used to guide future action on its product offerings, market positioning, branding, pricing structure, and other key decisions.
On May 31, 2017, Rocky Mountain High Brands, Inc announced today that it will soon start producing a line of both Cannabidiol (CBD) infused flavored waters and CBD-infused flavored energy drinks and beverages.
RMHB stock has been on a downward trend since the beginning of 2017. The stock has made a few upward bounces, but none of them have resulted in a sustainable reversal. The stock is currently trading at $.0460 a share. Financial reporting remains unchanged from our last review on May 31,2017. Current market capitalization is reported at $36.24 million, on 787.88 million shares outstanding as of August 11, 2017. We will be updating our subscribers as soon as we know more. For the latest updates on RMHB, sign up below!
Image courtesy of Mike Stander via Flickr
Disclosure: We have no position in RMHB and have not been compensated for this article.
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