Blue Diamond Ventures, Inc (OTCMKTS:BLDV) shares were up 100% on Wednesday and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $57,000.00 at 190 million shares outstanding.
Blue Diamond Ventures is a company that partners with other companies and individuals that share a common synergy, mission, and vision to enable products and services that are produced, delivered and consumed utilizing fewer natural resources, providing a sustainable alternative to traditional products on the market today. Its business model relies on Blue Diamond Consulting to provide consulting services to its subsidiaries, including Now-Brands LLC, Cannabis-Clean – Clean 1st LLC, Michigan Plant Technologies LLC.
In a press release yesterday, Blue Diamond Ventures announced its acquisition of VERVE Living Systems and ZENO InnPoint. ZENO is a wireless gateways and cloud solutions company that provides energy saving and management to the hospitality industry while VERVE is a brand that provides the sensors and guestroom control products.
Through this agreement, Blue Diamond becomes the first energy-management and in-room controls provider to support both EnOcean and ZigBee technologies, to deliver the most flexible wireless performance platform on the market. In addition to current markets of Zeno Controls and VERVE Living Systems, Blue Diamond will expand the VERVE Living System brand into the Cannabis Industry, with a VERVE branded Home Growing System,” explained Josh Alper, CEO of Blue Diamond Ventures.
The latter statement gives the company a stake in the cannabis industry, which is hoping for more support for legislation in the November polls. Companies in this industry have been reporting gains in share prices over the past weeks in anticipation of legalization of cannabis-related products in several states, which would then open a huge market for home-growing systems that Blue Diamond Ventures hopes to be a part of.
In particular, the VERVE branded Home Growing System will leverage the VERVE self-correcting adaptive wireless “Hotel” technology, replacing the “Guest Comfort” with Plant Health. Blue Diamond Ventures will allow both VERVE and ZENO to focus on sales to hospitality end-users and the development of the new residential grow products in the cannabis space.
Apart from that, Blue Diamond Ventures also shared that Clean 1st LLC, the owners of Cannabis Clean which is a 20% holding of the company, has closed several new large contracts to provide specialized and antimicrobial janitorial services to cannabis cultivators in Colorado. In cannabis-related news, the company also reported that Now Brands, LLC, the owners of Olde Imperial Mystic Hemp Vodka, a 40% holding of Blue Diamond Ventures, has successfully completed the first production run of its triple gold medal award-winning Hemp infused Vodka.
On the longer-term time frames, BLDV stock is still trading very much at the bottom of its range and has yet to show more upside and momentum towards the $0.01 area. Volume is still weak but is showing signs of picking up as well. All this could hinge on the November polls, which would determine whether the cannabis industry is poised for much more growth.
Note that Blue Diamond Ventures also has a stake in the solar power industry, as it has begun work on a community solar project in the Western New York. Its consulting subsidiary has successfully completed its review of the California Lights Works Cannabis LED Lighting and has signed an agreement with Cannabis Greenhouse Systems.
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