Signal Bay Inc (OTCMKTS:SGBY) shares were up 27.87% to $0.0222 on Monday and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.03. The company has a market cap of $17.68 million at 584.99 million shares outstanding.
Signal Bay Inc is a company that provides advisory, management and analytical testing services to the legalized cannabis industry through its subsidiaries. Its segments are Signal Bay Consulting and CR Labs, Inc. Signal Bay Consulting provides advisory, licensing and compliance services to the cannabis industry and assists these companies with license applications, business planning, state compliance and ongoing operational support. Meanwhile, CR Labs Inc. provides analytical testing services to the cannabis industry to its clients who are located in Oregon and consist of growers, processors and dispensaries.
In its press release, Signal Bay Inc announced that all three of their labs are now licensed and ready to meet the testing needs of cannabis businesses across the state.
All three of our labs, EVIO Labs Bend, EVIO Labs Eugene and Kenevir Research are now licensed by the OLCC. Collectively, we provide all of the tests required by the state, and have begun collecting samples in accordance with Oregons new sampling rules,” stated Signal Bay Inc CEO William Waldrop.
He added that Signal Bay Inc is now scheduling appointments with new and existing clients and fielding a myriad of customer questions. He explained that the industry is still going through a learning curve as producers, processors and retailers transition to the new requirements. As a consultative partner, their goal is to educate their clients through this transition.
Waldrop also noted that their team has been trained to meet new industry requirements. These include more extensive testing and a biannual process evaluation for processors and edible manufacturers. He concluded by saying that their Portland acquisition is being finalized and that they will share more information in the coming days.
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