PHOENIX, AZ / ACCESSWIRE / November 14, 2018 / Acacia Diversified Holdings, Inc. (OTCQB: ACCA ), (“Acacia” or the “Company”) is an emerging cannabis company. Richard K. Pertile, Acacia’s Chief Executive Officer, joined Stock Day’s Everett Jolly.
“We actually merged with our private company, MariJ Group, merged with the Acacia family in January of 2016 and became a public entity,” explained Pertile. “We started out in Florida as one of the applicants, started acquiring all of our equipment and everything we needed to be an applicant in the state of Florida and we ended up putting all of that into mobile applications and sent it to work because we got tired of sitting around waiting for regulators to approve things.”
Pertile went on to say he started his career in Florida in insurance and sales. He rose to VP of a public company then retired to do philanthropy work. He said from there he got into the cannabis space after seeing the potential to do good.
“I saw what it did for particular people, in terms of being patients, the medicinal value and seeing how it changed the devastation of people lives is really what excited me to get involved with it full throttle.”
Jolly then asked about the advantages of a vertically integrated hemp operation and asked Pertile how they made money. He said the nice thing about being vertically integrated is that they can control their own genetics.
“That’s a real important factor, having that control over the phenotype and genetics,” explained Pertile. “The second is being able to process that particular material into different oils. So, having the abilities and the structure. In this case we do supercritical CO2 processing and then to be able to manufacture the end product into a retail type product or a wholesale type product.
He went on to say it’s exciting for the company. They are also in the hemp space in Tennessee and it allows them to be in complete control of their future as it relates to pricing. Pertile said it’s very lucrative having that ability.
Jolly then asked about indoor growing versus outdoor growing and wanted to know why Acacia prefers the indoor method. He said it was a conscious decision on the part of the company.
“Once you get your infrastructure structured, you have much more control over the insects and the whole overall environment,” said Pertile. “Not having to deal with tornados, weather, rain and all that Mother Nature throws at us as well as the insects that are constantly being combated is a big advantage.”
He went on to explain that when the environment is controlled, they can produce pharmaceutical quality and medicinal grade products that can be certified. Pertile also mentioned that growing indoors means they can grow year-round.
“Much more lucrative on an indoor grow and certainly more quality control,” he explained.
Jolly then asked about how Acacia is preparing for the FDA oversight in the field that they are in. He said they recently acquired a private entity, MEDAHUB Operations Group, Inc. and MEDAHUB, Inc., technology companies in Florida.
“What that gave us is the infrastructure for what we call left to right HL7 HIPPA Compliance software technology. Meaning we can track, traditionally, the seed to the sale or what’s going on in the genetics all the way through to the retail sale or wholesale sale. But most importantly we also have the doctor patient relationship built into this software. Where the doctor can sit down with the patent and prescribe different types of medicinal hemp products,” said Pertile.
He said it allows the doctors to pick what type of strain works better for what type of aliment then keeps the data together and securely stored. He explained that obtaining the left to right visibility of what they are doing sets them up properly with the FDA.
“We are really excited about having that technology,” says Pertile. “It’s really innovative and we are really excited about getting that up and running and showing the regulators and law enforcement and everyone else how we can track the products and treat it much like a controlled substance.”
To hear the entire interview with Acacia Diversified Holdings, Inc.’s CEO, follow the link to the Stick Day Podcast. https://upticknewswire.com/featured-interview-ceo-richard-pertile-of-acacia-diversified-holdings-inc-otcqb-acca/
About Acacia Diversified Holdings, Inc.
Acacia Diversified Holdings, Inc. is a publicly held corporation that was originally incorporated in Texas on October 1, 1984 as Gibbs Construction, Inc. In becoming public, the Company completed an initial public offering (IPO) of its common stock in January, 1996, and thereafter commenced trading on the NASDAQ Exchange under the symbol GBSE. Following financial hardships and various failed attempts to reorganize the Company’s affairs from April 2000 through August 2006, the Company’s primary creditor sold a controlling interest in the Company’s shares to Mr. Steven L. Sample, its Chief Executive Officer and Chairman of the Board of Directors until January 15, 2016. In 2006 Mr. Sample personally satisfied several outstanding obligations of the Company relating to the costs of the attempted reorganization proceedings, costs owed to the Company’s prior transfer agent, and amounts due for professional fees associated with bringing several years of its audits and S.E.C. reporting obligations to a current status. Following those actions, the Company was recapitalized, changed its name to Acacia Automotive, Inc. and caused its trading symbol to be changed to ACCA in 2007. In that restructuring the Company retained its substantial tax loss carryforward, which stands at approximately $12,242,000 as of December 31, 2015.
Mr. Richard K. Pertile
President, CEO and Chairman of the Board
Acacia Diversified Holdings, Inc.
13575 58th Street North – #138
Clearwater, FL 33760
Office Telephone: (727) 678-4420
Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Acacia or MariJ Pharmaceuticals websites does not constitute a part of this release.
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