1pm Industries, Inc. (OTC Pink: OPMZ) is engaged within the sale and distribution of medical marijuana products. Shares of the medical marijuana company jumped 50%, through early trading on Thursday, September 28, 2017. Over the past month, 1pm Industries, Inc. has seen average daily volume of 86.3 million shares. However, volume of 81.28 million shares or dollar volume of $48,768, has already exchanged hands on the day.

Shares of 1pm Industries, Inc. are surging today, after the company announced that it is working with multiple companies that are interested in engaging in the California cannabis industry. Being that California law requires entities owner greater than 5% of public traded entity, the company will take 4.90% from its respective consulting clients. Here is part of 8-K filing detailing of the its California cannabis clients:

1pm Industries, Inc. Press Release:

Item 8.01. Other Events

(1) The Company is working with multiple entities that are engaged or desire to be engaged in the cannabis industry in California. As part of the services rendered, we are typically compensated with up to a 9.9% stake in the client’s company. However, the State of California licensing requirements require all licensing applications to include any person or entity that owns greater than 5% of a publicly traded entity and limits any person or entity to a total of 4 acres of total canopy space for cultivation. As such, in order not to limit the number of clients we can be engaged by, we are limiting any position to a 4.9% stake in all of our clients that are engaged in the cannabis business in California.
(2) According to “The Cannabis Industry Annual Report: 2017 Legal Marijuana Outlook”, the legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual rate of 17%. Medical marijuana sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020. Adult recreational sales are estimated to jump from $2.6 billion in 2016 to $11.2 billion by 2020. Based on this expected growth and demand, the company will primarily focus on cannabis related clients and take on only other clients that have the potential to up-list to the NYSE or NASDAQ. The Company is currently working with 2 clients outside of cannabis sector.
a. Elder Care– which currently operates edler care housing in California. One of the founders also founded an entity that is currently trading on the NYSE and that our officers assisted with the initial reverse merger.
b. Television production – the client creates and distributes both unscripted and scripted television programming whose principals have sold shows to Fox and Sony.

Here is the link to the full 8-K filing: https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12298239

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