LMG Solutions

Testing Cannabis to Ensure It's Safe

Company Information

Website:

https://www.lmgsolutionsinc.com/

Sector:

Laboratory Testing

Location:

Sacramento, CA

More than 90% of Americans live in a state that's legalized some form of cannabis use. But with increased legalization comes the need for greater safety measures.

LMG Solutions tests for the safety of cannabis and cannabis-infused products. Its job is to ensure that all cannabis-related products are safe for consumers.

Before you see a cannabis product on the shelves, it must undergo testing in a specialized, accredited lab. But it’s not easy to get this accreditation. That’s why there are so few accredited testing labs in the U.S.

LMG’s first testing lab was accredited in Oregon in 2017. Now it’s focused on the soaring demand for cannabis in California, where the company is based. At the moment, there are only four accredited testing labs in California. LMG will add two more labs to ease this bottleneck.

The company has already leased a facility in Sacramento and is raising capital to outfit its lab. This facility is located next to a cannabis distribution partner, the 5th-largest in the state. Through discussions with this partner, LMG has already secured Letters of Intent worth nearly $8 million in annual recurring revenue.

LMG aims to have its lab be fully operational in less than a year.

Team Background

Rick Lumpkin - Co-Founder
Lori Aquilino - Co-Founder
Marshall Aquilino - Chief Executive Officer
Raising
$100K
Committed
$42K (42%)
Current Valuation
$10 million Cap / 0% Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
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