PHOENIX, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Helix TCS, Inc. (OTCQB: HLIX) (“Helix TCS” or “Company”) is a leading ancillary service provider for the legal cannabis industry. Zachary L. Venegas, the Executive Chairman and CEO of Helix TCS talked with Stock Day’s Marcus Heatherly about where Helix TCS is now compared to the last time they were on Stock Day.
“When we were last on the show, we were just under $3 million in revenue with two primary lines of business in logistics and security,” explained Venegas. “We are now at $12 million in revenue with four different significant lines of business. Not only in logistics and security, we are [now] also the largest seed to sale software tracking provider in the nation.”
Venegas also noted that Helix has expanded its other technology offering to include remote monitoring of grows, processors and dispensaries. Most recently, Heatherly mentioned, was the merger with BioTrackTHC that closed in June. “The BioTrack deal was a long time coming,” Mr. Venegas explained. “There have been lots of people who tried to acquire that firm because of its market share. It took a long time, it was difficult, but we managed to get it done.” BioTrackTHC, a leading seed to sale software platform for the legal cannabis industry, partners with Amazon Web Services to provide government and commercial clients with world-class cloud hosted software solutions. With 9 government contracts and operations in 31 states, BioTrackTHC provides a strong foothold for Helix TCS’s integrated service offerings nationwide.
Heatherly then inquired about the merger and acquisition activity which is accelerating across the cannabis industry asking Venegas’ take on the activity. “We believe that’s driven by two distinct paths. One is consolidation among producers,” explained Venegas. “Then you have service providers that can’t make it on their own that are combining together.”
He then explained that Helix TCS started acquiring before it became “fashionable” and has managed to stay ahead of the curve. Heathery noted that based on the company’s revenues it appears to be pretty undervalued compared to its peers in the market and asked about the Company’s outlook for 2019.
“We will continue to seek out strategic acquisition targets just as we’ve done in the past,” said Venegas. “We have been able to hit our revenue numbers every year since we’ve been in business because we are disciplined about what we do, how we do it and when we do it.”
For more on Helix TCS’s outlook for the future listen to the podcast here: https://upticknewswire.com/featured-interview-ceo-zachary-venegas-of-helix-tcs-inc-otcqb-hlix/
About Helix TCS Inc.
Helix TCS, Inc. (OTCQB: HLIX) is a premier provider of integrated operating environment solutions for the legal cannabis industry. Helix provides a proprietary software suite and partnership platform to the legal cannabis industry, helping clients manage inventory and supply costs and bespoke monitoring and transport solutions. Helix provides clients in the legal cannabis industry high standard security operations, including transportation, armed and unarmed guarding, training, investigation, and special services.
Contact:
Scott Ogur
720-328-5372
ir@helixtcs.com
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: our ability to fund our operations and pay any outstanding debt; fluctuations in our financial results; general economic risks; the volatile nature of the market for our products and services and other factors that could impact our anticipated growth; our ability to manage our growth; changes in laws and regulations regarding the cannabis industry and service providers in the cannabis industry; reliance on key personnel; our ability to compete effectively; security and other risks associated with our business; intellectual property risks; and other risk factors set forth from time to time in our SEC filings. Helix TCS assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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