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| This is the news that PZOO has been working on for several months and will take their business to a whole new level. |
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 Hot Stock to Watch |
Company: Pazoo Inc. (Pink Sheets: PZOO)
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Last:
Price: 0.0033
Change (%): + 0.0006 (22.22)
Volume: 96,257,873 |
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Pazoo Expects To Begin Generating Commissioned Based Revenue As Harris Lee Colorado Enters Into Operational Advisory Agreement For Denver Colorado Testing Lab
WHIPPANY, N.J., Oct. 29, 2015 /PRNewswire/ - Pazoo, Inc. (OTC Pinks: PZOO) (German WKN#: A1J3DK), is pleased to announce that for the first time Pazoo will soon begin generating revenue on a commission basis from the operations of a marijuana testing lab. Harris Lee Colorado (HLCO), Pazoo’s licensee for marijuana testing using Steep Hill’s leading technology and methodology last week reached an agreement in principal to enter into a consulting and operational advisory agreement for an already existing and operational Denver Colorado Marijuana Testing Lab owned by Front Range Analytics, LLC. Harris Lee Colorado (HLCO) has begun generating revenue from the testing lab through a management agreement.
This milestone event is being greatly enhanced due to the activities of the sales teams from Pazoo’s wholly-owned subsidiary CK Distribution, LLC (CK). Over the past few months the CK sales team had received numerous commitments from growers to test at the Denver facility once HLCO completed the interim step of becoming the manager to oversee and make sure that the marketing, sales, testing and overall management of the facility is being properly handled until the final approval from the MED for the complete transfer of the license.
Since HLCO personnel began its marketing efforts, the number of tests increased by approximately 50%. The Denver testing lab is expected to see a growth of 400% in the next couple of months from the approximate 200 tests to about 800 tests per month. Additionally the lab was only authorized for one test (potency) and two weeks ago applied for, and is expect to soon have, the certification for RSA (resident solvent analysis). Over the next few months the lab is expected to apply for and obtain the certifications for two more tests making HLCO one of only 3 labs in Colorado certified for all 4 tests. Once all 4 certifications are obtained, HLCO would expect to experience further strong gains in number of tests and revenue.
The change of ownership meeting that HLCO and Front Range had with the MED on October 14th resulted in the submission of a complete application for HLCO to provide full management services to Front Range. The meeting was very short and the MED confirmed that all paperwork was received. Pazoo expects the MED to approve the change of ownership for HLCO to qualify as an owner of the marijuana testing lab license. The next step in the process is to then submit for the 100% change in ownership and official transfer of the license. Once this occurs, revenue under the HLCO license will transition from the current consulting fee to operational revenue which will dramatically increase revenue being recorded by HLCO. However, this interim step of taking over the management of the facility will allow HLCO to start obtaining the remaining certifications as well as secure new growers to greatly enhance revenue growth.
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