SEATTLE, Feb. 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing FluroTech Ltd. (TSX-V:TEST) (OTCQB:FLURF). The company debuted its CompleTest™ to the public for the first time at the 2019 LIFT Expo. Master growers and quality assurance personnel were impressed by live demonstrations showing the technology's simplicity, speed, accuracy, and consistency of results, which could enable them to bring a lot of analytical tasks in-house that were previously outsourced to third-party laboratories.
Vancouver's LIFT Expo is Canada's largest cannabis trade show where established incumbents and new startups unveil their hottest new products. From Blade Filters' green carbon air filters to Nitrotin's canned cannabis, there is no shortage of innovative products targeting the nascent cannabis industry. Some of these companies will emerge to become new leaders in important subsets of the cannabis industry.
Please Click Here to See the CompleTest™ Demonstration Video
Best of Show for New Technology
High! Canada Magazine awarded CompleTest™ with their Best of Show for New Technology award following the 2019 LIFT Expo. The award underscores the unique value proposition that the company's technology offers to licensed producers and other cultivators that want to access precise data to fine-tune their growing conditions to optimize quality and yield. The results can also confirm third-party test results to avoid any misunderstandings.
"The award was unexpected," said FluroTech VP of Business Development Gary Jones in a recent press release announcing the award. "The Vancouver LIFT Expo was the first time that FluroTech unveiled the CompleTest™ to the public. Master growers recognized that they could affordably and accurately use the in-house testing device to select mother plants for breeding or to optimize their potency yield for a given strain."
Co-founder and CEO Danny Dalla Longa, an experienced businessman, CTO Dr. Prenner, a specialist in fluorescence spectroscopy, and COO Rex Kary, an experienced marketing and finance executive, plan to enter the market with unique testing capabilities before expanding into biomarking to revolutionize the cannabis supply chain. These long-term aspirations could make it one of the industry's most promising new technologies.
COO Rex Kary commented saying "CompleTest™ is a tool all growers can use to significantly increase yield and profitability by having accurate in-house test results in 30 minutes".
Providing a Better Alternative
The CompleTest™ provides a fast, affordable, cost-effective and accurate test for tetrahydrocannabinol (THCa), cannabidiol (CBDa) and heavy metals with pesticides and aflatoxin tests expected Q2. The testing process involves mixing a small sample of ground buds with a reagent solution and placing it into the CompleTest™ for about 60 seconds. When the test is complete, the results are sent immediately to a tablet for review.
By comparison, most existing testing solutions involve $500,000 ICP-MS equipment for heavy metal tests or $100,000 high performance liquid chromatography equipment to test cannabinoids that require experienced personnel to operate. These tests routinely take from a couple hours to several weeks to turnaround, which can be a long time when cultivators depend on the results to guide their grow operations or determine if product is safe.
Many third-party laboratories also produce different results since use machines with varying levels of calibration and personnel with varying levels of experience. FluroTech's CompleTest™ produces extremely consistent results that are within one percent of acceptable variance. Cultivators can rely on the device to produce consistent and reliable results without the possibility of human interpretation errors or miscalibration causing any issues.
Unique Opportunity for Investors
The market for cannabis testing is rapidly growing thanks to expansive regulations and intensifying competition among cultivators. In a recent study, growers using CompleTest™ used the device to identify lighting solutions that increased potency by 50 percent, which is significant given that each one percent increase in potency translates to an 8.3 percent increase in the value of cannabis extracts!
FluroTech Ltd.'s (TSX-V:TEST) (OTCQB:FLURF) CompleTest™ is not only a technological breakthrough delivering significant benefits to cultivators, it offers investors a compelling razor-razorblade business model. In addition to the $18,000 unit sale and one-off $6000 scope sales, the company generates an estimated $20,000 per year in revenue per device from scopes and test kits that are required to run each test, creating predictable recurring revenue for investors.
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For more information, visit the company's website.
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Source: CFN Media