Leafbuyer Technologies Inc (OTCMKTS:LBUY) Providing A Global Link To Your Cannabis Provider

Leafbuyer Technologies Inc (OTCMKTS:LBUY) is at the forefront in opening cannabis up the cannabis industry, creating an online platform where their clients can be connected to their cannabis distributors on the go.Their business model as well as growth potential sets it at a pedestal for share price growth in the future.As seen in the chart below, the share price is currently recovering: LBUY Daily ChartThis piece will take a closer look at the stock, assessing its potential upside based on its strategy and financial performance. We want to bring out our view on the benefits accruing to an investor investing in this stock for either the short or long term.Having said this, it is important for us to briefly review the company for readers with rudimentary knowledge of its operations.LBUY Technologies Inc: An OverviewLB Media Group, LLC introduced Leafbuyer in 2013 as a consumer portal that would allow cannabis consumers to find the best deals and information from their favorite local dispensary. The platform also allowed cannabis businesses to attract new customers by posting more information and better cannabis deals. Eventually, the fully developed Leafbuyer platform will host many tools for our clients to attract, retain and grow customers.The Company has 14 full time employees working out of its headquarters in Greenwood Village, Colorado. In addition, the company currently has sales teams in Washington, California and Oregon. It has relationships with approximately 10 independent contractors which it retains from time to time.LBUY plans to grow organically and through strategic acquisitions to achieve its long-term goals with their main strategic objective being recruiting and retaining some of the top talent in the cannabis and technology industries.With these in mind, we further look at the successes akin to LBUY’s story as well as their expected future growth potential.A story of success and growthIn the period since January 2017, LBUY has been in a series of positive news, with the Cannabis Business Executives recognizing it on its Ancillary Business List 2017, based on annual revenue and impact on the industry as a whole. They stated that Leafbuyer allows dispensaries to reach and attract potential customers through their unique technology platform.During the same period, the company went on to grow into new markets, capitalizing on its West Coast operations. LBUY is poised to capitalize on new recreational markets open in 2018, entering into markets such as Oregon, Washington, California, Nevada, and Arizona as it works at an increase in its market share.Finally, in September 2017, LBUY executed a partnership with Voice Media Group to enable them market their services through their platform. This was to be done through their websites: Westword,LA Weekly, Phoenix New Times, and Toke of the Town. In all, the online tool will reach over one million pageviews per month.LBUY’s Chief Executive, Kurt Rossner, was quoted during the partnership launch saying:

“We believe the added distribution footprint will greatly enhance our ability to attract new customers in areas outside of Colorado. This is a very important step as we continue to push forward for a truly national base of consumers.”

During the same event, Scott Tobias, CEO of Voice Media Group hailed LBUY as well as the cannabis industry saying:

“We had partnered with Leafbuyer for our Westword Magazine in Denver six months ago. It was an easy decision to include them in all markets on our Marijuana related sections. The Cannabis industry is one of the fastest growing industries to date and our partnership with Leafbuyer has provided valuable content for our users."

Source:Given the above, the entity has built a strong brand which they can leverage to earn more into the future.Wallet assessmentIn the period till June 2017, they generated $234,000, up from $231,000 in the period till March 2017. The company has been fixated on growth in their revenue base necessitating expansion into new markets as detailed above. They expect that the next period will bring better fortunes as they continue to market their services on all fronts.The marketing campaign has had a significant effect on their profits with the SGA expenses going up from $330,000 to $476,000 for the periods ended March and June 2017 respectively. However, management finds this to be a worthwhile investment in the future of the company.Despite the above, it would be prudent for management to reduce their costs as they venture into the future. The loss position held by the company needs to be alleviated to ensure the continuity of the company. Their ability to manage costs will serve them well in the long run as they seek to grow and increase shareholder wealth.ConclusionLBUY is a story of slow and steady growth, backed by a rapidly growing industry. Their role in the industry as well as their business model will go a long way in ensuring the company finds its footing in the sector and builds on this to become a major player in the long run.We will be updating our subscribers as soon as we know more. For the latest updates on LBUY, sign up below!Image courtesy of macrocannabis via FlickrDisclosure: We have no position in LBUY and have not been compensated for this article.