Fastfunds Financial Corp. (FFFC) Employs Diversification Strategy for Success in Cannabis Industry
Fastfunds Financial is focused on building a portfolio of revenue-generating companies that provide ancillary services to the burgeoning cannabis industry in varying capacities. FFFC’s overarching execution strategy is to deepen its position in the industry by advancing the development several separate business verticals.
FFFC’s current suite of companies consists of two wholly owned subsidiaries: Cannabis Angel, Inc. (CA) and The 420 Development Corporation; as well as majority-owned subsidiary Financiera Moderna, Inc., which offers financial services to the underserved Hispanic community. FFFC also has a 49% stake in Cannabis Merchant Financial Solutions, Inc. (CMFS), through which FFFC entered the financial service business vertical.
In recent months, much emphasis has been placed on CMFS, the developer of the Green Card and Tommy Chong Green Card, a reloadable stored value card with a rewards feature, and the Tommy Chong Frequent Buyers Card, which functions as a gift card or rewards card. Supporting the continued advancement of CMFS and its growing interest in the financial services market, FFFC is developing a national group of master resellers, distributors and sales representatives for these card products.
The growing cannabis industry is flourishing with ancillary opportunities, among which is plant botany. As the industry continues to develop, FFFC is partaking in the development of methods and technologies to significantly enhance plant growth and purity. Under an operating agreement with Sanidor Systems to create Pure Grow Systems, LLC, FFFC acquired a 49% interest in the subsidiary, which is dedicated to the healthy production and processing of raw materials used for medicinal or other health related purposes.
Though marijuana is legal in 23 states, but illegal at a federal level, banks are wary of participating in the industry. As such, the cannabis industry is a cash-only business, which leaves companies vulnerable to criminal activities.
FFFC’s research shows that operating margins for cannabis-related security services could exceed current billing levels by at least 100%. The company plans to take advantage of this opportunity while addressing cash-only concerns and enter the security services and equipment sector through the acquisition of an existing, operational security company. Complementary to this plan, FFFC also owns a 70% stake in Ohio-based Brawnstone Security, Inc., a diversified security, training and investigations company.
FFFC continues to drop anchors in key segments of the rapidly growing cannabis industry to reduce risk while progressing as a provider of viable solutions in an explosive growth market.
For more information visit www.fastfundsfinancial.com
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