Late last month Laboratory Economics (content reused with permission from Laboratory Economics) reported that DigiPath, Inc. had hired a “turnaround expert” by the name of Joe Tanner, age 67, to serve as Executive Chairman. It was reported Tanner has received shares of DigiPath valued at approximately as well as monthly compensation. Laboratory Economics went on to report
“DigiPath, a publicly-traded company that markets digital pathology systems, has been struggling. In the six months ended March 31, 2014, DigiPath reported a net loss of $297,812 on revenue of only $105,544.
Over the past three months, DigiPath has raised $8.2 million from individual investors. The company is in the process of exploring “new lines of business associated with the research, development, licensing and operation of botanical and nutri-pharmaceutical products and services.””
It seems that “new line of business” will in some part involve marijuana testing and education with another company. I am having a hard time how this aligns as a digital pathology solutions provider by expanding its infrastructure in cannabis testing and educational markets. Full press release below as seen on the Wall Street Journal:
LAS VEGAS, July 1, 2014 /PRNewswire/ — Digital pathology solutions provider DigiPath, Inc. (OTCQB: DIGP / “DigiPath”) has announced the launch of its new cannabis education and training division to support its line of service expansion to include cannabis testing and education.
DigiPath has sought out the services of Oak Tree Educational Partners, Inc. (Oak Tree), an education holding company that acquires and manages educational training schools, to construct the initial business plan.
“The Oak Tree partnership will help us accelerate the launch of DigiPath’s education and training curriculums in the botanical nutraceutical and medical marijuana industries,” said Todd Denkin, President of DigiPath.
“We plan to develop weekend seminars, interactive online courses, and instructor-led programs to empower students with a comprehensive understanding of the many facets of botanical nutraceuticals and medical marijuana, and the critical skills needed in these industries.”
DigiPath is seeking to solve some of the major shortcomings facing the cannabis industry today–such as lack of best practices for growing and testing cannabis–by developing an industry-leading training curriculum.
“We’re exceptionally proud to be a part of this forward-looking program which is establishing excellent standards of educational operations across all organizations involved in the cannabis industry,” said Joe Bianco, Oak Tree’s Chief Executive Officer. “This is an area of knowledge that has been suppressed in the United States for too long.”
According to market research reports, the legal cannabis market in America is estimated to have reached $1.5 billion in 2013, and it is expected to quadruple by the year 2018.
About DigiPath, Inc.
DigiPath, Inc. is a digital pathology solutions provider with expanding infrastructure in the cannabis testing and educational markets. The Company designs and markets innovative pathology solutions to private and academic institutions in addition to providing best practices and comprehensive training curriculums.
DigiPath’s digital pathology portfolio includes PathScope(TM), PathCloud(TM), PathReview(TM), and PathConsult(TM) digital platforms to share and archive tissue images.
For more information about this announcement or the company, go to www.digipath.com.
About Oak Tree Educational Partners, Inc.
Founded in 2009, Oak Tree Educational Partners is an education holding company focused on the acquisition of profitable educational training schools that demonstrate the capacity for leadership in their respective industries and markets. Oak Tree currently operates five vocational training schools, including Valley Anesthesia, a professional test preparation school.