Earlier today, Latteno Food Corp. announced the launch of an on-line ordering and delivery service for their medical marijuana edibles. The initial service area will be Orange County, CA and some of the surrounding area.
Like other medical marijuana purchases in California, patients will have to provide a valid CA Driver’s License and a Doctor’s Recommendation Letter. With a minimum purchase order requirement of $35, a customer can have three of Latteno’s signature Cheeba Chew Medical Taffy bars delivered to their house in an hour.
The delivery service will be provided by LATF’s subsidiary, Rx Harvest Collective, Inc, and cover the 20 mile area between Anaheim and Costa Mesa. To help generate some business and support the delivery service, Latteno Food Corp. has taken out an ad in OC Weekly (which can be seen on the website linked above).
“RxHC’s groundbreaking MMJ Delivery Service is this start of our MMJ initiatives. We are pleased with the progress we have made to date and we look forward to further developments both in California and in our new home, Colorado … We will continue to report on the progress of our current initiatives, as well as new plans and opportunities as they present themselves.”
– Thu Le, CEO of Latteno Food Corp.
What does this mean for LATF? After about a week losses for the marijuana sector (with the exception to a select few), we have some positive news. Do I think this is groundbreaking news out of LATF and will cause the stock do pull a 100% gain tomorrow? No, not at all; but it is a sign of progress and a new avenue for revenue. LATF has found popularity in the crowd that are known as the “pot stocks,” and this experiment may possibly lead to a city, region or statewide delivery service (which could ultimately generate millions of dollars in revenue). I have followed LATF since the end of February, which coincidentally held a similar closing price to the $0.0082 we saw today. After the dust settles in the PHOT freeze, we should have a better understanding of where LATF will be heading, but for right now this may be a rough week for Latteno and the rest of the marijuana industry.