LOS ANGELES, Feb. 1, 2012 /PRNewswire/ — BG Medical Technologies, Inc. (OTC:RIGH) has positioned itself as a publicly-traded technology leader in medical cannabis and would like to take the time to discuss its 2012 fiscal growth strategy for shareholders and media interests.
The global vision of BG Medical is to empower individuals to be fully responsible for their personal wellness. This is accomplished through the combination of technology and media developments in three primary divisions: laboratory analysis, business support tools, and data services. The company’s operational strategy is comprised of a wide variety of herbal and nutraceutical programs.
BG Medical recognizes the medical marijuana industry as an under-developed technology market capable of supporting high-yield growth. The strong social involvement of cannabis patients also serves as an optimum market for BG Medical to introduce Internet-based wellness programs. BG Medical has seized this opportunity and is best known for its popular portal for medical cannabis treatment, BudGenius.com, a provider of safety and potency testing services. Currently less than 10% of all medical cannabis consumed worldwide is laboratory tested. BG Medical estimates that cannabis testing services currently represent a $50M market. Cannabis-related advertising is estimated to grow beyond $150M in 2013. Market surveys have stated that the USA cannabis industry is expected to grow 400% by 2016.
BG Medical confirms its previously expressed $6.5M revenue projection for fiscal 2012. This is to be obtained through testing services, advertising revenue, and cloud-based software services. BudGenius will aggressively enter the advertising market utilizing its growing user base to accelerate revenue growth. New business support tools will be introduced to caregivers supporting cost reduction in operations, thus freeing up financial resources for additional testing. A strong expansion into content publishing and on-demand media monetization will also be introduced.
The remainder of Q1 will be comprised of staff growth, office relocation upgrades, and administration of the new public entity. Q2 and Q3 will represent strong development focus on new technologies, and additional sales strategies. Executive staff leadership have recently been added with deep experience in major network media production, investment advisory, cannabis advocacy, and public company management from notable cannabis industry brands. These announcements will be released shortly.
In Q4 BudGenius.com will make an unprecedented announcement that will introduce an affordable testing program to cannabis collectives that is expected to radically transform the industry by sustaining upwards of a 90% tested medicine catalog nationwide by mid-2013. This will be accomplished through direct service and partner programs. This solution will also serve as the business catalyst to fully solve any revenue concerns related to dispensary turnover stemming from fluctuating federal policy. BudGenius backs this bold statement with its history of delivering first-to-market innovative solutions, including serving as the first online database of searchable tested cannabis medicine.
BG Medical Technologies, Inc. stands firmly in its commitment to make safe and medically relevant treatment options available to all cannabis patients nationwide.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management’s expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
BG Medical Technologies does not sell, grow, harvest, cultivate, nor distribute medical cannabis.