LAS VEGAS, June 10, 2019 /PRNewswire/ — Digipath, Inc. (OTCQB: DIGP), a service-oriented independent testing laboratory, data analytics and media firm focused on the developing cannabis and hemp markets, is pleased to announce that The Nevada Department of Taxation has reported marijuana sales results for 2018 and 2019 to date here; showing a continuing increase in volume in the state. This corresponds with the increased demand Digipath is experiencing for its governmentally required cannabis testing services in Nevada.
In March alone, the State of Nevada reported record cannabis sales of just under $60 million. March is historically a stronger month for legal marijuana transactions with 31 days, and this year had five weekends. March sales surpassed February results for record average sales of $1.9 million per day. Recreational sales were $53.6 million, up $11.1 million from February, while medicinal sales were off by $800,000. Overall, March 2019 sales grew by 20% compared to March 2018.
Digipath’s sales volume increases are reflective of Nevada’s overall results, with Digipath’s March 2019 revenues increasing by 20% from February 2018.
“The continuing increase in cannabis sales in Nevada validates our business model,” stated Todd Denkin, CEO, Digipath, Inc. “As one of the most trusted testing labs in Nevada, we directly benefit from increased cannabis sales in the State. As Nevada matures as a market and with our initial Research and Development well behind us, we believe Digipath is prepared to scale rapidly and elegantly,” added Denkin.
About Digipath, Inc. (OTCQB: DIGP)
Digipath, Inc., supports the cannabis industry’s best practices for reliable testing, data acquisition, cannabis education and training, and brings unbiased cannabis news coverage to the cannabis industry. Digipath Labs provides pharmaceutical-grade analysis and testing to the cannabis industry to ensure producers, consumers and patients know exactly what is in the cannabis they ingest and to help maximize the