Altitude Organic's New Managing Director Outlines Vision: Focuses More on Revenue, Scalability
PHOENIX, May 31, 2012 /PRNewswire/ -- Altitude Organic Corporation, (OTC:PK:ERBB) a subsidiary of Tranzbyte Corporation, under the guidance of new Managing Director, Eric Boone, received an overview of Mr. Boone's future direction in a presentation to the company's board of directors.
"Altitude Organic Corporation continues to be an advocacy-driven company with the ultimate goal of broadening access to high-quality, contaminant-free medical cannabis to patients all over the US and eventually to tap the extraordinary potential offered by industrial hemp," Mr. Boone stated. "Arizona initially appeared to be a proving ground for a dispensary-based model after voters passed Proposition 203 in November 2010. However, after sixteen months of legal wrangling and political posturing, the final rules increased AOC's risk exposure beyond acceptable levels."
According to Will Humble, Director of the Arizona Department of Health Services, AZDHS received 484 dispensary applications during the two-week application window. Mr. Boone commented, "We were assuming there would be around 500 applications. With the new rules, no favor was given to Arizona companies, nor would the quality of the business planning contained within each application be taken into consideration. In the case of multiple, qualified, applicants in a single market, which represents the great majority, the decision is made by random drawing. It did not seem that committing many resources to applying in the hopes of earning a place in a random contest to win the right to operate a not-for-profit business was in the best interest of our shareholders.
"Additionally," Mr. Boone continued, "there is no safe way to scale a dispensary model. The larger operations nationally are always the most closely scrutinized; and some high-ranking Arizona legislators have been quite vocal in their opposition to this voter-supported measure. I have a hard time thinking of a better example of the perils of first-entry. We certainly haven't abandoned our vision of a group of dispensaries / care facilities boasting the Altitude Organix brand, but now is not the right time. Given the current landscape, the company will be best served by spending its energy and capital creating and nurturing relationships with winning dispensary owners with an eye toward acquiring the more successful ones in the future.
"We have been working aggressively on building a catalogue of relevant, exclusive products for our Zazzz product line. Through Zazzz, dispensary owners have the opportunity to associate with the nationally-recognized Altitude Organix brand while earning revenue from product sales and ERBB stock based on volume success. AOC, likewise, generates immediate revenue from sales and, most importantly, proves to dispensary owners the value of partnering with Altitude. The extreme fragmentation in our industry makes everyone vulnerable. We feel this is the first step in establishing a broader network of like-minded businesses while allowing AOC to scale nationally with no exposure associated with dealing directly with cannabis-related products.
"Simultaneously, we continue to pursue cutting-edge innovation in product testing, dosing and delivery methods. Cannabis is already helping countless patients across the US and around the world. Insuring people have access to products of pharmaceutical-grade purity in specific doses and continuing to build our understanding of why cannabis is so effectual for such a wide variety of ailments will be essential for pressing the movement forward," he concluded.
Altitude Organic Corporation will continue to release details of new products and initiatives in the coming weeks and months. Dispensary owners interested in learning more about earning revenue and stock by becoming Zazzz affiliates are encouraged to contact Mr. Boone at AOC offices by calling (480) 443-1600 or emailing firstname.lastname@example.org.
ABOUT ALTITUDE ORGANIC CORPORATION
Altitude Organic Corporation (www.altitudeorganix.com) provides business support services to independently-owned retail dispensaries and legally licensed caregivers in states that have approved the use of medical cannabis. AOC continues to drive innovation in the industry through its sales and marketing support services, product research and development, point-of-sale and inventory management technologies, Zazzz™ unique retail product lines, and an expanding family of brands designed to meet the ever-growing demand of the burgeoning medical cannabis industry. Visit http://www.altitudeorganix.com today.
ABOUT PROXIMARF AND APPLIED RFID
Founded in 2006, Applied RFID and its operating subsidiaries (www.proximarf.com), have a versatile and leading-edge portfolio of RFID reader, sensor tag and data logging products based on the ISO 15693 standard of high frequency (13.56Mhz) RFID.
The company has plans to increase its network of global distributors and value-added resellers. With its "Proxima RF" line of RFID readers, sensor tags, sensor probes and data logging products, the Company seeks out opportunities with partners who have a unique software offering within market verticals where the implementation of secure data collection and temperature sensing bring real and immediate ROI to users. These key markets include: food safety, cold chain logistics and healthcare/pharmaceutical as well as factory and field maintenance applications.
The Tranzbyte Corporation (www.tranzbyte.com) is a driving force behind Altitude Organic Corporation. The company expects to continue its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming," Companies that qualify and decide to become public on their own will agree to carve out shares for Tranzbyte and their ERBB shareholders.
In February 2012, Tranzbyte acquired ProximaRF – a leading-edge company that produces a line of products supporting leading-edge RFID technology.
Tranzbyte also houses the company's 8-year-old technology division which is actively engaged in the sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum™ and FlixStix -- technologies that enable distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Company and Contact:
Tranzbyte Corporation – Hong Kong
Rm 308, 3/F, Kai Tak Commercial Building
317-319 Des Voeux Road Central,
Hong Kong (SAR)
Victor J. Elias, President
ProximaRF Technology Holding Company
ProximaRF Corporate Office:
14220 N. Northsight Blvd.
Scottsdale, AZ 85260
SOURCE Altitude Organic CorporationBack to top