The Company’s plans include the construction of 4 state of the art greenhouses, housing approximately 2.5 acres of total growing area.
BYND Cannasoft Enterprises Inc. estimates that once fully operational, its Cann-a-bis farm facility will be able to produce 7,500kg of raw cann-a-bis each year.
BYND also intends to work with strategic partners to develop and market new, proprietary cann-a-bis infused products for sale throughout Israel and for export.
The company operates on 3 parallel levels as part of its plans to enter the market for growing and selling medical cann-a-bis:
- The company is working to transfer the initial permit for the cultivation and multiplication of medical cann-a-bis according to the partnership agreement with the Bzizinsky family, after its transfer, the company will operate for the planning and construction of a growing facility in Moshav Kochav Michael.
- The company has completed the planning and placement of an internal breeding facility and has applied for a growing and breeding license for this facility.
- The company has submitted an application for a license to trade in medical cann-a-bis “without contact with the substance” known as a constructive license, after receiving it the company will be able to implement agreements it has signed with various growers for marketing and sales of the company’s private label.
Find more key company details here.
And as I mentioned above, BCAN has 5 key potential catalysts to soak in now. Check them out:
No. 1 BCAN Potential Catalyst - A Crazy Low Float Could Lead To Explosive Volatility
According to the Yahoo Finance website, BCAN has an insanely tiny float.
The website reports this profile to have approximately 878.14k shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could more 2022 positive company news help provide a near term spark?
No. 2 BCAN Potential Catalyst - A Game-Changing Acquisition That Could Help Put BCAN On The Map
BYND Cannasoft Enterprises Inc. Signs Agreement for the Acquisition of Israeli-Based Zigi Carmel Initiatives & Investments Ltd. In a Share Swap Agreement Valued at US $28Mn
ZC owns the patent pending intellectual property for a C-B-D-based therapeutic device combined with software designed to treat phenomena related to women's health issues by regulating the flow of low-concentration C-B-D ("CB") oils into the soft tissues of the female reproductive system
VANCOUVER, British Columbia, Sept. 18, 2022 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or the “Company”) announced today that it has signed a share purchase agreement to acquire 100% ownership of Zigi Carmel Initiatives & Investments Ltd. (“ZC”) which holds the patent pending intellectual property for a therapeutic device (the “EZ-G device”) that uses low concentrations of CB oils, such as hemp seed oil and other natural oils, to treat certain women's health issues...
The EZ-G device is a unique, patent-pending device that, combined with proprietary software (provisional application), regulates the flow of low-concentration CB oils into the soft tissues of the female reproductive system. According to research conducted across the globe, treatment with low-concentration CB oils can relieve candida, dryness, scars, and many other female health issues.
BYND intends to pursue the final registration of the patent and establish a marketing and sales system for the EZ-G device. The Company's ‘Go to Market’ strategic plan is based on combined B2B and B2C sales. Numerous studies have shown CB interacts with the endocann-a-binoid system, a master regulatory system with receptors all around the body. By activating these receptors, CB can have health benefits that help make sex more approachable and pleasurable by reducing stress, enhancing one's mood, promoting body comfort, and treating vaginal issues. According to the Brightfield Group, a cann-a-bis industry data research firm, sales of CB products could reach $11Bn by 2027. A recent Zion Market Research study indicates the market size of global gynecology devices was worth $10.8Bn in 2021 and is estimated to exceed $19.5Bn by 2028 with a compound annual growth rate (CAGR) of approximately 10.3 percent.
No regulatory filings relating to the device have been made in the United States and the Company has no intention of marketing the device in any jurisdiction until it has been cleared by the applicable regulator, including the Food and Drug Administration in the United States.
Yftah Ben Yaackov, CEO and a Director of BYND, said, "From the moment we complete the purchase of ZC, we plan to hit the ground running by initially securing any required regulatory approval from the appropriate authorities. We will continue to pursue the registration of the patent, which contains over 100 claims, prototype production and start validation tests, and contract with suppliers for the production of the device and the oils used in the EZ-G device.
The demand for a unique device combined with software, such as the EZ-G device, stems from the increasing occurrence of chronic conditions and the rising adoption of self-health management. Using a device at home is a very cost-effective treatment, and it opens up a vast channel for millions of women." Mr. Ben Yaackov continued, "We hope to use the knowledge we have gained in the medical cann-a-bis field to significantly improve the quality of life of women suffering from symptoms such as those mentioned above."
Read the full article here.
No. 3 BCAN Potential Catalyst - Initial Approval Received For Cannasoft To Engage In Medical Cann-a-bis Without Direct Contact
Israel’s Ministry of Health, through the Medical Cann-a-bis Unit, granted BYND Cannasoft Enterprises Inc.’s Subsidiary, Cannasoft an Initial Approval to Engage in Medical Cann-a-bis Without Direct Contact with the Substance
VANCOUVER, British Columbia and ASHKELON, Israel, Oct. 18, 2022 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) ("BYND Cannasoft" or the "Company") announced today that it received initial approval to engage in medical cann-a-bis without direct contact with the substance from the Medical Cann-a-bis Unit at the Ministry of Health of the State of Israel. Cannasoft received this initial approval as part of the process to obtain a full license that allows trading in medical cann-a-bis products through an agreement with a licensed cann-a-bis grower in Israel. Cannasoft is in the final stage of obtaining the full license.
The standardization of the medical cann-a-bis field in Israel is among the first in the world. It is an innovative and original process utilizing considerable efforts to provide medical care according to a regulated medical method and practice.
Upon receipt of the full license, Cannasoft intends to immediately implement and execute an agreement with a licensed Israeli grower to produce and distribute various medical cann-a-bis products that constitute the Company's private brand for all pharmacies and pharmacy chains in Israel. The Company has a penetration strategy for the medical cann-a-bis products market in Israel, which currently has about 150,000 users with an annual sales volume of about half a Bn dollars. BYND Cannasoft intends to capture a market share of about 3%, worth about $15Mn in sales, within a year of putting its products on store shelves. The Company has completed several additional requirements of the Medical Cann-a-bis Unit in recent months. Receiving this initial approval, along with the completion of these additional requirements, brought the Company closer to obtaining the full license.
Yftah Ben Yaackov, CEO and Director of BYND, said, "We anticipate that as long as there are no unforeseen circumstances, Cannasoft will receive a full license to engage in medical cann-a-bis without direct contact in the near future. Our strategy post-license will be to penetrate the cann-a-bis products market in Israel and globally immediately after the approval of the Israeli regulator for the export of cann-a-bis products from Israel. Our business plan allows us to accomplish this without in-vest-ing heavily in resources and establishing and operating cultivation facilities." Mr. Yaackov continued, "In this way, BYND Cannasoft will be able to realize its goal of generating significant revenues from the sale of cann-a-bis products while saving significantly on the Company's expenses for this purpose."
Read the full article here.
No. 4 BCAN Potential Catalyst - Beta Test Launch For C.R.M System At Prestigious Weizmann Institute
BYND Cannasoft Enterprises Inc. Launches Beta Test for Managing Farms CRM Platform at Israel’s Weizmann Institute of Science
VANCOUVER, British Columbia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) (CSE: BYND) (“BYND” or the “Company”) announced that its subsidiary BYND - Beyond Solutions Ltd. has signed an agreement with the Weizmann Institute of Science for the use of its proprietary software. Under the terms of the agreement, the Weizmann Institute of Science will use a beta version of the software provided as SAAS. The beta version will include BYND Cannasoft Enterprises' C.R.M. System - Job Management (BENEFIT), as well as a module system (CANNASOFT) for managing farms and greenhouses with varied crops. BYND Cannasoft Enterprises will grant the Weizmann Institute a permit to use the license free of charge for a period of one year, after which the institute will have the right to extend the agreement and the Company will be paid a rate according to the agreement.
Yftah Ben Yaackov, CEO and a Director of BYND, said, "This is an extremely important step in the development of BYND Cannasoft Enterprises medical cann-a-bis software since the Weizmann Institute has many greenhouses of various types that can cover all the development possibilities of the software in the coming year..."
Read the full article here.
No. 5 BCAN Potential Catalyst - Oversold Technicals Signal Bounce/Reversal Possibilities
As of close Friday, Barchart was reporting this profile to have several oversold leaning technicals.
These technicals could be signaling a healthy reversal could be approaching in the near term.
Here's the definition of a "reversal" from Investopedia:
"A reversal is a change in the price direction of an asset. A reversal can occur to the upside or downside. Following an uptrend, a reversal would be to the downside. Following a downtrend, a reversal would be to the upside. Reversals are based on overall price direction and are not typically based on one or two periods/bars on a chart."
Now, here are some key technicals (as of close Friday) that could signal BCAN to be leaning oversold and on the verge of a potential reversal.
- 9-Day Relative Strength Index: 34.67%
- 14-Day Relative Strength Index: 34.65%
When these numbers drop down to the 30% range and lower, they can be viewed as being in oversold territory. While in this territory, they can paint the picture of a profile that is undervalued.
- 20-Day Raw Stochastic: 16.66%
- 20-Day Williams %R: 83.34%
As the Raw Stochastic nears the 10% range and lower and the Williams %R nears the 90% range or higher, these technical indicators may also be viewed as oversold and undervalued.
Keep an eye on these technicals closely.
BCAN Recap - 5 Potential Breakout Catalysts To Know Before Monday's Opening Bell
No. 1 - A Crazy Low Float Could Lead To Explosive Volatility
No. 2 - A Game-Changing Acquisition That Could Help Put BCAN On The Map
No. 3 - Initial Approval Received For Cannasoft To Engage In Medical Cann-a-bis Without Direct Contact
No. 4 - Beta Test Launch For C.R.M System At Prestigious Weizmann Institute
No. 5 - Oversold Technicals Signal Bounce/Reversal Possibilities
Coverage is officially initiated on BCAN. When time permits, do this: