ATLANTA, GA / ACCESSWIRE / June 4, 2014 / Dutch Gold Resources, Inc. (DGRI.OTC), an emerging financial services company serving the medical marijuana “MMJ” industry, today announced that it has formed a new subsidiary, Ascendant Analytics, Inc. (AAI) which will produce and market a consumer potency testing kit for MMJ. The company anticipates the kits being available to consumers by year end.
According to the Marijuana Business Factbook 2014, 66% of all MMJ consumers believe that it is important to test for potency of their intended purchase, and 64% believe that it is important to test for safety. According to the same publication, the average annual consumer spend is $1,869 per year with the average consumer visiting a retailer three times per month.
The Company estimates that the market for test kits, priced reasonably to the consumer, could be seven to ten times the revenue of commercial MMJ laboratories, estimated by Factbook to be between $15 and $20 million this year. AAI intends to approach the retail market first, before expanding its product line to include other possible markets verticals.
Daniel Hollis, CEO of Dutch Gold Resources commented, “We have been evaluating this underserved market since early March. Our findings have lead us to believe that there is, and will continue to be, considerable demand for a reasonably priced consumer based retail test kit. Not only do we believe there significant consumer demand, but we also foresee heightened demand from manufacturers of edibles as individual states begin to demand batch testing.”
Hollis continued, “Our review of certain scientific data has given us cause to believe that AAI has the potential of uniquely serving both markets.” The Company expects to move from the current scientific prototype to a working prototype in order to test production in its third quarter of 2014, with commercial production expected by fourth quarter 2014.
This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
For further information, please see http://www.dutchgoldinc.com/ or contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at 404-981-7424.
Source: Dutch Gold Resources, Inc.