Players Network Granted Two Medical Marijuana Special Use Permits By North Las Vegas Nevada
WeedTV FinancialGuru Interviews Players Network (OTCQB:PNTV) CEO, Mark Bradley
FinancialGuru: Morning Mark, good to have this opportunity to interview you. Of course PNTV owns WeedTV so this is a very exciting day for PNTV as well as for WeedTV. What does the Special Use Permit Approval mean?
Mark Bradley: Thanks Zach, it’s a major step forward. PNTV through its subsidiary Green Leaf Farms Holdings applied for three medical marijuana licenses; two in North Las Vegas for production and cultivation, as well as a dispensary license in Las Vegas. This use permit approval in North Las Vegas for two of our licenses is tremendously good news for the company.
FinancialGuru: So does that mean you are ready to start production?
Mark Bradley: Not quite yet. The State of Nevada also reviews our qualifications and that review is expected to be completed by November 18, 2014. We assembled an incredible team covering all aspects of the operation in making sure that we meet all State requirements.
FinancialGuru: So after the approval will you need to raise capital to begin operations?
Mark Bradley: Actually, that’s already partially done. We cannot even apply for a license unless you show the ability to execute. Even before the application was submitted, we assembled a best of the best team as well as financial resources to fully execute on our plans, however, depending on our exact construction costs we may need additional funding. PNTV had a recent press release talking about Green Leaf Holdings raising equity on a $10 million valuation. PNTV owns 80% of this or $8.0 million. That valuation was prior to receiving these approvals so, it will be increasing. But even at just $8.0 million that’s over $.04 a share value for PNTV stock that is trading in the low two-cent range. So in my opinion it is below even our book value. Also important to remember is that this is just one asset of PNTV. We have national media channels in over 100 million homes including the recently launched WeedTV that you are very familiar with. Coming off our Hempfest success, we expect even more exciting projects in the foreseeable future as well as potential awards from Comcast. It is important to remember that PNTV is primarily a media company.
FinancialGuru: Then why apply for the medical marijuana licenses?
Mark Bradley: We entered the Cannabis sector in March of 2014 with WeedTV. That decision was based upon how dynamic and what a strong growth industry this will be over the next 5 to 10 years. I immediately went through an incredible learning curve about the real needs and benefits of cannabis and hemp. Hemp can truly save the planet. It is incredible. It is a plant with a seed that has amazing medical as well as industrial uses. At one time in the United States, farmers were required to grow hemp by law. Marijuana may be found to be the cure for cancer, who knows. All I do know is it helps a great deal of people including seizure and cancer patients. A good friend in the industry told me that his number one target consumer market were AARP members as they have the greatest need and demand. That was a very telling statement. The opportunity to expand into a cash revenue operation that was so synergistic with our media operation was a logical extension. It allows us a knowledge base and source of content that will be exclusive and unique to our channels as well as significant revenue opportunities. So I truly feel it is the rare combination that we all hope to find of success and doing good in the world.
FinancialGuru: Do you think the upcoming legislative calendar will help PNTV?
Mark Bradley: Really good question. The entire public stock marijuana sector has been down over the summer. As we move into elections and new legislation being enacted in January, the size of the marijuana marketplace will increase dramatically, adding significant revenue as well as new businesses. So we do hope to see the entire sector have a lift.
FinancialGuru: Amazing Mark, any closing words to our viewers or your shareholders?
Mark Bradley: This is a really exciting time for PNTV and our shareholders. I have never been more focused because it is really easy to see our path to success and significant recurring revenue. Personally it is fun and exciting for me so it becomes very motivating. I sincerely look forward to reporting great things before the end of 2014. You are right, its amazing. Thank you.
FinancialGuru: Thank you Mark, and we will continue these updates on the progress of both WeedTV and Players Network, a OTCQB Public Company trading with the symbol: PNTV.