Marijuana Business Magazine November December 2018

they would have a much better time,” Island said. “It’s not that they don’t want consultants, but some people need a consultant an arm’s length away, where they can ask for you if they need you, but it’s not completely forced upon them every time they enter your operation.” Sounding Out Retailers Island and Edwards wanted to make sure cannabis retailers were interested in buying their technology before the pair shelled out thousands of dollars and focused on GreenStop full time. “In 2015, we personally went to the dispensaries to make sure this was valid and viable technology,” Island said. During the company's early days, GreenStop secured five letters of intent from retailers who were interested in purchasing the kiosks. The company garnered more atten- tion from the industry this year, after it released a video online demonstrating the product. “Since we launched the commercial in April, we’ve had more than 50 com- panies say they want the tech right now,” Island said. The TechCrunch event in September was the first time the public – includ- ing investors – could interact with the Smart Dispensary. GreenStop’s playbook is to continue offering dem- onstrations of the product at other live events, attracting attention and, pos- sibly, investor dollars along the way. Launching New Technology GreenStop plans to license its software as well as lease its octagon-shaped kiosks to dispensa- ries, Edwards said. Late this year or in early 2019, GreenStop wants to test about 10 kiosks in dispensaries in the Los Angeles area, where the company is located. The company wants to try the technology in micro, small, medium and large retailers, or those that see revenue ranging from about $1 million to more than $20 million – retail cat- egories outlined in a report from the California Bureau of Cannabis Control. “It’s not going to be like, ‘Hey, you buy this and put it in the corner.’ This is going to be a focal point of your busi- ness,” Edwards said, adding he expects adopters of the technology to be dispensaries with large demand and a desire to stay competitive. “It’s a whole new, revolutionary way to do retail.” ◆ • Purge Oxygen • Extend Shelf Life regardless of your package preference LIQUID NITROGEN DOSING 4 Barten Lane, Woburn, MA 01801, USA T 781-933-3570 | F 781-932-9428 | sales@vacuumbarrier.com | vacuumbarrier.com