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DIGIPATH INC
DIGP OTCQB
Marijuana Testing Labs – FY 2021
Seeking Alpha – DIGP Fiscal Year Results
This cutting edge company has acquired a pharma grade laboratory in a roll-up strategy that we think will more than double revenues in the near future.
This independent testing labs company hit a yearly high of $0.10 cents earlier this year and since has consolidated to present levels. A recent acquisition is driving these shares higher in trading
We look for a retest of the $0.05 cent resistance level before a test of the yearly $0.10 cent high which would be a significant advance from current levels. All serious investors must place these shares on their WATCH LIST .
For more info on DIGP OTCQB Please Contact :
Gary Zwetchkenbaum – Plum Tree Consulting LLC –Cell : 516 – 455-7662 -EMAIL – gzplumtree@gmail.com
Emerging Growth Video Seeking Alpha Digipath SEC Filings
.Click On Blue Link to Watch The Video Imvestor Presentation And Business Update F or Digipath Inc – Todd Denkin President
Economic impact of COVID continuing to subside as Company expands operations in California
LAS VEGAS, NV, Jan. 04, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Digipath, Inc. (OTCQB: DIGP) (“DIGP” or the “Company”), a service-oriented independent analytical testing laboratory, data analytics and technology firm focused on the cannabis and hemp markets, today announced results for the twelve month period ending September 30, 2021. Revenues and Gross Margins were reasonably consistent with the previous fiscal year, but the loss was substantially less at $686,503, a reduction of 70.3% from the loss in the previous year of $2,309,490.
Fiscal Year 2021 Company Highlights
- Company signs LOI to purchase Berkley lab, initiates multi-state operator strategy.
- Annual revenues decreased by $70,599, or 2.7%, on a year-over-year basis.
- Gross margins of 28.36% were down slightly from the prior year.
- EBITDA was ($772,448) compared to ($2,192,382), an improvement of $1,419,934 on a year-over-year basis.
- Net loss decreased to $686,503, compared to $2,309,490 for the twelve months ending September 30, 2021, an improvement of $1,622,987, or 70.3%
- The full year filing can be found on our website: Digipath SEC Filings
Management Comment
“While this was undoubtably a rebuilding year as we managed COVID and its impact on our operations, our clients, and the market, the Company was able to reduce expenses through what we view as a necessary rebuilding phase. This now positions us to accelerate and expand both in our longstanding Las Vegas lab and through strategic acquisitions,” said Todd Denkin, Founder and President at Digipath.
“In fact, we believe the challenges we faced and overcame helped us craft a far more elegant and efficient business model that we can apply to existing laboratories we acquire in lucrative markets, allowing us to expand both the venerable, pioneering Digipath brand and revenue potential simultaneously,” added Denkin.
The table below shows the interim results and key metrics:
| Years Ended September 30, | |||||
| Increase/ | |||||
| 2021 | 2020 | Decrease | |||
| Revenues (Thousands) | $2,503,800 | $2,574,399 | (70,599) | ||
| Cost of Sales | 1,788,635 | 1,778,564 | 10,071 | ||
| Gross Profit Margins (%) | 28.6% | 30.9% | (2.3%) | ||
| Operating Expenses | 1,487,613 | 2,988,217 | 1,500,604 | ||
| Operating Loss | (772,448) | (2,192,382) | 1,419,934 | ||
| Net Loss | (686,503) | (2,309,490) | 1,622,987 | ||
| EPS | ($.01) | ($.04) | $.03 | ||
Digipath Takes Over Management & Signs Letter of Intent to Acquire Majority Control of Steep Hill’s Licensed Northern California
Acquisition Would Extend Multi-State Operator (MSO) Strategy
LAS VEGAS, NV, December, 7, 2021 – Digipath, Inc. (OTCQB: DIGP) (the “Company”), a service-oriented independent analytical testing laboratory and data company focused on the cannabis and hemp markets, announced today that it has signed a letter of intent to acquire a controlling interest in a Berkeley, CA based cannabis and hemp testing laboratory from EVIO, Inc. (OTC PINK:EVIO) in exchange for shares of Digipath’s common stock.
The lab acquisition would immediately make Digipath a Multi-State Operator (MSO) and would be the Company’s first in what it hopes will be similar future purchases wherein the Company acquires existing labs and increases profitability using Digipath’s proven methodology and business model.
The Berkeley lab is fully licensed in California with state-of-the art equipment and complete redundancy. Digipath is already managing the lab under a management agreement pending the closing of the transaction. Based on current projections, the Berkeley lab is expected to more than double revenue of the next calendar year. California is widely regarded as one of the leading cannabis markets in the world and its residents as the third largest consumers of cannabis in the world. California has instituted strict regulations requiring all cannabis products to receive a Certificate of Analysis from a state-licensed testing lab prior to distribution. This has been a boon for the cannabis testing market in California, making it the fastest growing segment within the cannabis industry.
Over 100 Certified Analytical Testing Labs are needed to meet California’s current demand according to California’s Bureau of Cannabis Control (BCC). There is a severe shortage of qualified testing facilities with only 35 such certified labs operating in California currently.
“The acquisition of this laboratory would accelerate implementation of our strategy to become a multi-state operator (MSO) of cannabis and hemp testing labs,” stated Todd Denkin, Digipath Founder and President. “California has followed Nevada and other states by mandating strict testing guidelines for cannabis and related products. With only 35 cannabis testing labs in California to service the thousands of licensees, this is a tremendous expansion opportunity for Digipath and its shareholders.” Denkin added, “To learn more about this acquisition, please join me this Wednesday December 8th, at 9:00 am EST at the Emerging Growth Conference Webinar by simply clicking here to register.”
“With cannabis products now legal for recreational use in 11 states and for medical use in 35 states we believe that the vast market for testing and analysis has hit its tipping point. There are significant barriers to entry to becoming a state-licensed and certified testing lab. Digipath intends to fill this void, having established itself as a premium testing laboratory brand in Nevada and now has firm plans to do the same in California,” said Stone Douglass, Chief Financial Officer, Digipath. “This is a first step in executing our plan to become a leading national brand in cannabis and hemp testing.”
“We are elated to expand and extend our relationship with Digipath,” said Arielle Chu, VP of Licensing at Steep Hill. “To date, this has been a fruitful and mutually beneficial engagement and we fully expect both companies to profit from the association as we move forward together.”
Click On Blue Link to Watch The Video Imvestor Presentation And Business Update F or Digipath Inc – Todd Denkin President
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc., supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client’s products through analysis, research, development, and standardization.
LAS VEGAS, NV, Dec. 06, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Digipath, Inc. (OTCQB: DIGP) (the “Company”), is pleased to announce that it has been invited to present at the Emerging Growth Conference on Wednesday, December 8th at 12 noon EST/ 9:00 am PST.
This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s Founder and President, Todd Denkin in real time.
Denkin will use the event to explain Digipath’s new and strategic expansion initiative which looks for the Company to be highly acquisitive using Digipath’s proven business model and reputation. This comes at a time when many states are seeing an explosion in cannabis sales that require state-mandated testing and a true bottleneck of service providers needed to provide these assays.
Mr. Denkin will also be available to answer questions after the presentation.
Digipath, Inc. will be presenting at 12 noon Eastern time for 30 minutes.
Please register here: https://goto.webcasts.com/starthere.jsp?ei=1512636&tp_key=b542885e5a&sti=digp to ensure you are able to attend the conference and receive any updates that are released.
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and we will also release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services, and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. Presenting companies in the Conference pay a fee to secure a presentation time slot or to present generally.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc ., supports the cannabis industry’s best practices for reliable testing, data acquisition, formulations, and new canna-tech to the cannabis industry.
Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the quality of its client’s products through analysis, research, development, and standardization.
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