Digipath Inc (OTCMKTS:DIGP) is one company that has taken advantage of growing interest in the cannabis industry to create a conglomerate. By the end of 2014, the cannabis industry was valued at $2.7 billion. While most companies sought to take advantage of the growing market by growing medical cannabis or conducting clinical trials, DIGP has come up with a unique thought. This move has given the company a firm footing in various areas of the industry, compared to just a single area by others.
Currently, the company is comprised of four units: Digipath Labs, TNM News Corp, Digipath Corp. and Digipath University. Together these four divisions work to provide reliable testing and educational programs, along with unbiased news from the industry. The company’s FY2014 showed great financial health, reporting no long term debts and a cash position of $3.6 million. The company believes that these finances are sufficient to let the company expand its various initiatives.
Additionally, the company is making use of its position in the industry to set a standard for testing all cannabis-based products. The state of the art lab has been built in the state of Nevada, at a cost of $1.4 million and is expected to start functioning in a few weeks.
The company believes that ensuring drug quality is always the first step in patient safety. This is why they have developed this state of the art lab to set standards for companies to follow. The company believes that with most companies trying to develop cannabis-based products, there is also a higher risk of contamination. The results can be devastating for the patients. In order to make sure that its voice is heard by a large number of audiences, the company has started to target terrestrial radio stations. The TNM News has been keeping itself up to date with the latest on-goings of the industry, which has earned it more than 100,000 listeners in a month.