Company info
Name: Cannetics Global, Inc.
Location: Alexandria, Virginia, USA
Founded Date: 09/07/2021
Founders: Stephen Genung , Anastasia Palmisano
Website: https://www.addonis.us/password
Sector: Apparel & Clothing, Jewellery, Fashion & Luxury, Textile
Market Presence: USA
N. of Employees: 1
Revenue: Pre Revenue
Contact Email: contact@equitymatch.co
KPI
Demonstrate positive customer response to initial product selections via trial website of at least 75%, Establish which price points generate real sales within 30% of U.S. online retail sales brackets for every initial product, Verify minimum profitability of 25% of 85% of initial products, Make trial website or application active in at least three dispensaries in three different U.S. states, Obtain dispensary feedback from #4 above and establish employee-usable, detailed process for adjusting product line, Determine marketing mix and minimum sales activity type and quantity that increases sales to a dispensary income of $50K gross sales in 6 months with a minimum profitability of 25%, Trial iPhone application with same products with no errors in presentation or execution, Confirm gross profitability of 50% of initial web or app users exclusively through the application, Increase product selection to the level needed for #6 above, including variants, Increase state trials to 6, Setup dispensaries across the U.S. as time and investment allow for faultless application performance and product delivery.
Round info
Investment Round: Seed Round
Raise Amount: USD 4.5M
Amount raised previous rounds: USD 16,000
Pre Money Valuation: USD 4.5M
Closing date: 31/08/2023
Cannetics Global, Inc.
Elevator Pitch: Think you should have made more from cannabis by now? We have a solution. We surveyed dispensary owners and operators and 92% want to sell non-canna items from their dispensary and go beyond bongs and “glassware,” but most see digital tools like websites as very expensive when priced individually and decision makers don’t know how to evaluate developers. We take out the risk. We’re creating a FREE tool that increases dispensary profit by as much as 25% with no up-front cost and no complex integration into your current dispensary software.
Summary: Think you should have earned more from your marijuana dispensary by now? With more states legalizing Canna every day in some form, the market for our Addonis(sm) platform that enables cannabis dispensaries to sell non-cannabis merchandise without hassle or risk, is huge and getting larger every year. Addonis(sm) online profit margins are expected to 41%–at the top of the curve. A perfect opportunity for those concerned or not legally allowed to invest directly in growing or dispensing marijuana.
We surveyed dispensary owners and operators and 92% want to sell non-canna items from their dispensary and go beyond bongs and “glassware,” but most see digital tools like websites as very expensive when priced individually and decision makers don’t know how to evaluate developers or ROI. We’re taking out the risk by creating a FREE tool that increases dispensary profit by as much as 25% with no up-front cost and no complex integration into your current dispensary software.
Addonis(sm) is estimated to increase cannabis dispensary profits by 15-35%. Not gross income growth–but net profit. There is no up front cost for this app-based, NON-cannabis sales platform with a membership option fulfilled with a single purchase of any product from a participating cannabis facility. Purchases can also be made at full retail prices for anyone not wishing to become a member.
The AddonisSM mission was formed out of input from our shareholder and dispensary operator, Matt Hersh, and from surveys of dispensary owners, and operators around the US in Canada. We wanted to know their pain points, but also what they thought would really help them make more profit in their dispensaries. In working up our model, we came to realize that if, for instance, cannabis purchases constitute 1% of the average customer’s purchasing power, why not sell items in the other 99%?
The customer funnel simply depends on, and our agreement requires, attendants offering a user name and temporary password to customers when they check out at a participating dispensaries.
Ultimately user data will inform our selection of products that consumers want, and those with reasonable margins will populate the site. But initially we will provide a line of affordable, high-end products to include vapes from Storz & Bickel in Germany, backpacks, Yoga mats and hemp clothing from Buddaland in Nepal, and a unique collection of pot leaf jewelry by Tery Saber in Istanbul, Turkey.
Cannetics Global will handle product acquisition, purchasing, sales and shipping, thus relieving the canna facility of that burden and providing for tax efficiency with regard to section 280e. Our analysis shows that with more states legalizing Canna every day in some form, the market for our AddonisSM platform is huge and getting larger every year. And there is no more loyal group of buyers on the planet than marijuana consumers.
Key Executives: Steve Genung is the CEO and Co-Founder, holds 88% of common shares. Matt Hersh is Cannabis Industry Advisor, holds 11% of common shares and authored Bud Tender’s Little Black Book in 2019. Managed at Ganja Goddess, Ganjapreneur, & Kip Dispensary. Jaimee Hamm, contract sales, rec dispensary lic., extensive experience in sales.
Gross Inc/ Costs/ Prof (USD):
- Yr1: 679K/ 1.4M/ -720K
- Yr 2: 16.5M/ 9.6M/ 6.8M
- Yr3: 48.8M/ 25.4M/ 23.3M
- Yr4: 122M/ 63.6/ 58.4M
Why invest? Emerging growth market/ Business model expects high profits/ Clear point of entry for near term revenue growth/ Reasonable expectation of long-term revenue growth/ Experienced core team. Lastly our model is easily expandable to other canna legal countries–Canada, England, Germany, France, eastern Europe.