Ubiquitech Software Corp (OTCMKTS:UBQU) To Become HempLife Today

Last month, Ubiquitech Software Corp (OTCMKTS:UBQU) announced that the company was changing its name to HempLife Today. Our only question is - what took so long? As the company said in the press release:

Pending the legal requirement filings the company will be known as HempLife Today™, with new symbol (To replace UBQU), also pending. The company believes that the already extensive reach of the HempLife Today™ name, the millions spent on branding, and the ability to leverage this brand into a worldwide powerhouse is the best choice to expand the CannazALL™ CBD product line to a larger market share, and offers greater flexibility and profit potential as the Hemp industry continues to grow.

Cannabis stocks are heating up again and having software in its name does not help with investors trying to figure out what the company does nor does it help bring in buyers that want exposure to Green Rush 2.0 that's going on. Come November, voters in at least nine states will decide on whether to legalize either the recreational use or the medical use of marijuana. As it stands now, those states include Arizona, Arkansas, California, Florida, Maine, Massachusetts, Montana, Nevada and North Dakota.So far, 25 states have established medical marijuana programs. These states include: Alaska, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine,Maryland, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island,Vermont, and Washington. In addition, Washington, DC and Puerto Rico allow medical marijuana for patients.Additional states, while not offering comprehensive medical marijuana programs, have approved marijuana- based “low THC, high cannabidiol (CBD)” products for limited medical purposes. These states include Alabama, Florida, Georgia, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina,Tennessee, Texas, Utah, Virginia, Wisconsin, and Wyoming.Alternatively, CBD oil products that are derived from hemp are legal to purchase and use in all 50 states without a visit to a doctor, a medical marijuana card, or paying a state enrollment fee. Made with naturally high-CBD, low-THC hemp, these products contain the same levels of CBD as those sold in medical marijuana dispensaries, but because they are sold as supplements, they are 100% legal in the U.S.It's this area that HempLife Today focuses on. Through its network of quality USA growers HempLife Today has developed multiple and proprietary CannazALL CBD oil products that include: its popular CBD Tinctures, Oils, GelCaps, CBD Powder, Skin Salve, Wax Crumble, and e-liquid. Two to four new products are scheduled to premiere this year and the company already added two new additional products, 800mg THC free Concentrated Oil and 1 gram (950mg) dabbing Shatter. HempLife Today also has a new NanoTech Infusion Process, which adds more hemp plant materials to its CannazALL products. First product to benefit from this process is the new dabbing Shatter and by end of year all CannazALL CBD products will benefit from this process.Revenues from its CannazALL CBD products exceeded $906,000 for the current quarter, and earnings rose to $81,324 from a loss of $(24,884) in the year ago period. The company has also continued to lower its customer acquisition costs from a high of $200 per customer at this time last year, to under $25 per customer in 3rd quarter 2016. Going forward, HempLife Today plans to more than triple the number of customers for its CannazALL CBD products next year. This is being done through an increase in Internet marketing, increased Referrals, increased social media, direct mail campaigns, and "word of mouth" experiences from its customers. CEO James Ballas said:

"We have a solid plan for growth and profits for the company and this is what allows us to grow at an ever increasing rate. Everything we have done up to now, our first three years in this business, was to get us into this position and ready to become the major player in the industry. We are pleased, but not surprised, at what we have already accomplished. If people think this year has been good just wait and see what we have planned for 4th quarter 2016 and throughout 2017, because we are set up for nothing but growth."

Currently trading with a market cap of just under $1.7 million, UBQU can get going rather quickly. There are just 46 million shares in the float. When you consider that 16.5 million shares traded on Friday, you get the picture of how UBQU can turn into a microcap runner overnight. Especially when compare UBQU to other cannabis names, with many lacking revenues and having much greater market caps.In looking at the quarter ending August 31, UBQU reported $906k in revenues, a gross profit of $485k, a net profit of $81k, $132k in cash, $1.3m in total assets, $1.1m in total liabilities, and total stockholder equity of $232k. Once the name change happens, it's only a matter of time before more pot stock investors discover UBQU. At current prices, UBQU is a discount entry opportunity. We will be updating our subscribers as soon as we know more. For the latest updates on UBQU and other cannabis plays, sign up below!Disclosure: We have no position in UBQU and have not been compensated for this article.