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GREENWOOD VILLAGE, Colo., Jan. 17, 2019 /PRNewswire/ — Helix TCS (OTCQB: HLIX) (the “Company”) is pleased to announce that it is positioned to see significant growth alongside New York’s forthcoming recreational cannabis program that was outlined by Governor Andrew Cuomo on Tuesday. The program is projected to generate upwards of $300 million in annual tax revenue for the state.
BioTrackTHC, a wholly-owned subsidiary of Helix TCS, currently holds the government contract to track and trace the state’s medical cannabis supply chain. As state level cannabis industries continue to expand and evolve, Helix believes that businesses with established partnerships and demonstrated success in a given market will maintain market dominance.
Helix TCS’ technology subsidiary, BioTrackTHC, is the leading provider of cannabis seed to sale tracking software to the legal marijuana industry and is the #1 revenue generating dispensary point of sale provider. The Company holds government cannabis tracking contracts in 9 regulated markets, including Illinois and New York, which are both expected to legalize recreational marijuana in 2019.
“BioTrack’s market dominance and cannabis tracking contracts in key states like Illinois and New York gives Helix unique leverage to strengthen our leading position as ancillary services providers to the legal cannabis industry,” said Zachary L. Venegas, Executive Chairman and CEO of Helix TCS. “As these programs expand and transition from medical to recreational, we are poised to capitalize on the progression of the industry.”