BYND Cannasoft (NASDAQ: BCAN) is Making Strides in the Massive Cannabis Market with a Three-Tiered Approach

BYND Cannasoft (NASDAQ: BCAN) is Making Strides in the Massive Cannabis Market with a Three-Tiered Approach
BYND Cannasoft (BCAN) is Making Strides in the Massive Canna-bis Market with a Three-Tiered Approach

As the canna-bis market evolves, continues to grow and canna-bis related companies gain investor interest, I am always looking for the next upcoming player with potential. I recently came across one I have to share with you.

Good day everyone,

BYND Cannasoft Enterprises Inc. (NASDAQ: BCAN) is a software/canna-bis company. BCAN began trading on the NASDAQ exchange in May of this year. The company shares are also traded on the CSE (BYND). Company operations are based in Israel.

Current price $4.17/share (as of market close 9-16-22)

BCAN is relatively new to the NASDAQ Exchange with their listing commencing in May of this year. The company has just acquired the rights to an exciting new C-B-D based medical device that I will discuss below.

BCAN has always been a SaaS provider with their proprietary Customer Relationship Management (CRM) platform, generating monthly revenues, known as Benefit CRM. They are currently upgrading that platform to a cloud-based version. The company has been expanding into the canna-bis market with three new developing segments.

CRM Operations

BYND Cannasoft Enterprises Inc. has been marketing its proprietary customer relationship management (CRM) software product known as Benefit CRM to approximately 400 clients with a monthly recurring revenue model for close to 20 years. BYND Cannasoft Enterprises’ Benefit CRM software enables small and medium-sized businesses to optimize their day-to-day business activities, such as sales management, personnel management, marketing, call center activities, and asset management. Benefit 2.0 software is an advanced generation of cloud database management software currently used by dozens of the company’s clients in Israel.

According to BYND Cannasoft Enterprises’ Storydoc website, current customers include Soreq Nuclear Research Center and Harel Insurance Investments and Financial Services Ltd. Soreq Nuclear Research Center is Israel’s nuclear reactor. Harel Insurance Investments is one of the most comprehensive insurance and financial services companies in Israel, with more than 80 years of insurance experience. Others include the Ness Group, One for Israel, and Perrigo Israel Pharmaceuticals Ltd. Ness is a private company that provides comprehensive computing services in the business and educational sectors. One for Israel is an Israeli-based IT company employing nearly 4,000 experts in Israel and globally to provide computer-based solutions to more than 2,000 clients and tens of thousands of users. Perrigo Israel develops, manufactures, and markets Generic Pharmaceuticals and Active Pharmaceutical ingredients. It has three manufacturing sites worldwide.

BYND Cannasoft Enterprises Current Customers Include Some of Israel’s Largest Companies (From Company Website)

Medical Canna-bis CRM Software

Building on its 20 years of experience in CRM software, BYND Cannasoft Enterprises recently began the development of a new CRM platform designed to serve the needs of the medical canna-bis industry. BYND Cannasoft Enterprises is looking to transform the sector into a more organized, accessible, and price transparent market. BYND Cannasoft’s goal is that its New Canna-bis CRM Platform will ultimately become the “virtual marketplace” for all stakeholders in medical canna-bis, which is similar to what Jack Ma did with Alibaba (BABA).

In addition to the virtual marketplace, the CRM and ERP system will allow growers a deep insight into all aspects of managing a canna-bis farm and canna-bis distribution, from the amounts of fertilizer to tracking delivery revenue. The ERP system will help canna-bis growers manage their day-to-day business activities like supply chain operations, accounting, procurement, project management, risk management, and compliance. BYND Cannasoft’s medical canna-bis software has completed its first development phase and is currently installed in one entity in this field in Israel. Canna-bis stocks have had a mixed year, led by companies like Aurora Canna-bis (ACB), Canopy Growth Corp (CGC), and Cronos Group (CRON). However, BYND Cannasoft could provide a boost to the industry as its CRM platform catches on.

This new platform could be a first for the medical canna-bis field. Canna-bis growers have been affected by the pandemic and the war in Ukraine. Since Ukraine and Russia export 28% of the world’s fertilizers, supply chains have been upset by war and economic sanctions. During the pandemic, consumers spent more money on canna-bis than ever before, which meant growers had to produce a lot more canna-bis to meet demand. Canna-bis sales increased during the pandemic, as many people were homebound. Now that the pandemic is winding down and people are returning to work, supply outweighs the current demand for canna-bis. If you remember back to introductory economics, we generally see a price decline if supply is more significant than demand. Lower prices do not necessarily mean growers need to throw in the towel on their canna-bis crops, but they need to be more aware of their costs and inventory, which is where BYND Cannasoft Enterprises comes in.

Grow Operations

BYND Cannasoft Enterprises has been working with the Bezinzsky family to establish a medical canna-bis farm in Israel. The company has made the following progress:

It is currently working on transferring the initial permit for the cultivation and multiplication of medical canna-bis according to the partnership agreement with the Bezinsky 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 breeding license.

BYND Cannasoft Enterprises has applied for a license to trade in medical canna-bis “without contact with the substance,” also known as a constructive license. After receiving the permit, the company can implement agreements it has signed with various growers for marketing and selling the company’s private label.

BYND Cannasoft Enterprises plans to develop its canna-bis farm near Ashkelon, Israel, on 3.5 acres (15 dunams) of land with an option to expand the farm to twice that size. The IMC-GDP license is an exclusive license issued by the Ministry of Health – The Israeli Medical Canna-bis Unit for importing, distributing, and storing canna-bis for medical use in a designated facility. BYND Cannasoft Enterprises aims to receive the IMC-GMP licenses within the year and will mainly export to Germany once regulation permits.

BYND Cannasoft Enterprises has applied for a separate license that allows the company to enter into a contract with one of the existing growers in Israel to build a private label of products for the company. The company intends to market these products to pharmacies to generate revenues without the required investment in establishing and operating a growing facility. The agreement with the grower includes marketing in Israel and the marketing of BYND Cannasoft Enterprises’ brand to Germany through the grower’s growing farm in Uganda.

BYND Cannasoft Enterprises’ plans include the construction of 4 state-of-the-art greenhouses, housing approximately 2.5 acres of total growing area. The company estimates that, once fully operational, its Canna-bis farm facility will be able to produce 7,500 kg, or 16,534 pounds, of raw canna-bis each year. BYND Cannasoft Enterprises also intends to work with strategic partners to develop and market proprietary canna-bis-infused products for the Israeli and global markets. The data and information collected through the operation of the canna-bis farm and the products it produces will also allow BYND Cannasoft Enterprises to test its new Canna-bis CRM platform and adjust the platform as necessary.

The video linked here will demonstrate the BCAN vision of their state-of-the-art growing system.

EZ-G Medical Device Acquisition (Recently announced)

BCAN has just acquired the EZ-G Device, a C-B-D-based gynecological device combined with intelligent software designed to revolutionize women’s health by regulating the flow of low-concentration C-B-D oils into the soft tissues of the female reproductive system. The company will sell the device itself, as well as the replaceable C-B-D capsule it utilizes. The company’s market plan is based on combined B2B and B2C sales.

The video linked here gives a description of the device, indications to be treated, and how it is used.

According to the Brightfield Group, a canna-bis industry data research firm, sales of C-B-D products could reach $11 billion by 2027. A recent Zion Market Research study indicates the market size of global gynecology devices was worth $10.8 billion in 2021 and is estimated to exceed $19.5 billion by 2028 with a compound annual growth rate (CAGR) of approximately 10.3 percent.

BCAN statistics:

FYE is 12-31, mrq is June 30, 2022
Outstanding shares 29.68M
Public Float 8.74M shares
Insider ownership 55%
Cash $4.03 (mrq)M
Revenues (ttm) $1.2M

BCAN is a thinly traded stock, and its price has been virtually the same since its NASDAQ listing in May of this year. The news about the EZ-G Device is brand new, it’s not even on the company website yet as I write this, and I believe it will be a significant catalyst for the company, along with their other canna-bis verticals.

Stay tuned for our full report on the new developments at BCAN.

The Traders News Group

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