Chuma: Taking Pot Seriously Resources Wire | Jay Currie | September 22, 2014 11:29 PM ET
The waves of mania which have propelled the legal marijuana business in the stock markets have been so extreme that the SEC and the OSC have both issued warnings about speculative excess. All types of companies are being floated, many of which have no license, no operations, no business and no money.
At the same time there is a real market for legal marijuana, worth billions of dollars, emerging in the United States. There is no question that marijuana – both medical and recreational – is here to stay. What may be puzzling for investors is how to participate in this boom while avoiding the various scams which blight the market.
Looking at this opportunity Chuma Holdings, Inc. (OTCBB:CHUM), formerly CannaMed Corp., realized that the cannabis industry lacked business services that are common for every other industry. This ranges from financing and payments solutions, through to regulatory compliance. The management at Chuma also recognized that in the midst of the stock market hype surrounding the marijuana industry, it made sense to quietly and effectively establish their business model, before making a splash.