Veritas Farms, Inc. (OTC.QB: VFRM) is a vertically integrated agribusiness focused on producing superior quality, whole plant, full spectrum hemp oils and extracts containing naturally occurring cannabinoids. The Company currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. The Company markets and sells products under its Veritas Farms™ brand and manufactures private label products for a number of leading distributors and retailers. Veritas Farms™ brand full spectrum hemp oil products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, and oral syringes in a variety of size formats and flavors. All Veritas Farms™ brand products are third-party laboratory tested for strength and purity.
The CBD market place is evolving rapidly due to established retailers jumping in. In 2019 CVS Health (NYSE:CVS) kicked things off in March by announcing plans to carry CBD topicals in approximately 800 stores across eight states. Walgreens Boots Alliance (NASDAQ:WBA) followed suit just days later by announcing its intention to carry CBD topicals in 1,500 stores in a handful of states. Rite Aid (NYSE:RAD) was last to join the party, with the company carrying CBD topicals in Washington and Oregon. Don’t overlook the role CVS Health, Walgreens, and Rite Aid have played in paving the way for other general retailers to carry CBD products.
According to the Brightfield Group it is expected that U.S. consumer sales of CBD will reach around 1.8 billion U.S. dollars by 2022. That would be a massive increase from around half a billion dollars in 2018. Thus, the CBD consumer market is following the trend of the total legal cannabis market in the United States, which is projected to be a 23-billion-dollar business by 2025.
With the FDA taking a cautious stance on CBD, fresh commentary from the relatively new FDA Commissioner should go a long way to easing investor fears: “People are using these products [CBD products]. We’re not going to be able to say you can’t use these products. It’s a fool’s game to try to even approach that.”
Why CBD is projected to outshine all other segments: CBD can be extracted from both the cannabis and hemp plant, whereas THC derives almost entirely from the cannabis plant, since hemp often contains very low levels of THC. Hemp plants are considerably cheaper to grow than cannabis, making hemp the preferred crop choice for CBD extraction.
Sales of CBD pet products quadrupled in 2018 to $32 million from $8 million in 2017, according to the Brightfield Group. The cannabis-focused research firm estimates the market could balloon to $1.16 billion in the U.S. alone by 2022.
The global pet care market size was estimated at USD 131.7 billion in 2016 and is expected to grow with CAGR of 4.9% from 2016 to 2025.
AUTHORIZED SHARES 75,000,000 AS OF 03/02/2020
OUTSTANDING SHARES 41,561,577 AS OF 03/02/2020
MARKET CAP 23,694,255 AS OF 03/09/2020
AVG. VOLUME 24,843
VFRM’s award-winning products are available in over 6,000 retail and drug chains coast to coast in the United States. CBD Product lines include tinctures, capsules, gummies, skincare, salves, roll on, CBD for pets, lotions, massage oils and more. All told, VFRM has over 75 SKUs/products in the marketplace.
VFRM has made a big splash in the CBD pet products market. Putting close to two years in formulations and testing, Veritas Farms Full Spectrum pet products are some of the most unique CBD pet products to hit the market. Veritas Pets is made of the purest, highest quality ingredients.
VFRM is a vertically integrated agribusiness who currently owns and operates a 140-acre farm and production facilities in Pueblo, Colorado. They are one of an elite few that actually goes from seed all the way to the final product in-house. This show the major retail chains that VFRM can be trusted as a brand.
VFRM is a media darling. VFRM has been featured in Men’s Health, Consumer Reports, Forbes, The New York Times, GQ, Fox Business and more.
Strong and experienced management. VFRM made a savvy and strategic move by adding Daniel Connors, PhD as head of R&D. His history as a Analytical Chemist for the United Stated Food and Drug Administration (FDA) will be invaluable.