Cannabix Technologies (BLOZF) Stock: “I’m Fine, Smell My Breath!”

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Cannabix Technologies Inc (OTCMKTS: BLOZF)

Cannabix Technologies is rolling higher alongside other stocks in the cannabis sector, as more states lean toward less restrictive laws pertaining to the use of marijuana.

Unlike companies that are looking to capitalize on the sale of cannabis and cannabis related products, BLOZF is working to develop it’s own space by developing a device to assist in the enforcement of the laws that will likely be written to ensure safe roads and workplace environments. The device is intended for live roadside testing and workplace screening.

Cannabix, Producing A Portable Roadside Assistant

BLOZF is currently positioned as the first-to-market candidate to actually deliver a fully functional, multiple application device to market. Additional players, such as Life Lock and Hound Labs are potential competitive threats, with Hound Labs being the closest to bringing an actual prototype to the test market behind BLOZF.

The device, also being termed a breathalyzer, has been in development by BLOZF for the past two years. During the development process, Cannabix has made significant advances in breath testing technologies, in the pursuit of delivering a durable, portable and hand held device to market designed specifically to enhance detection of THC, the intoxicating component in marijuana.

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Is The BLOZF Device A Buzz Kill?

If you plan on using marijuana or any its peripheral products, the BLOZF device might not be your best friend, especially if you are operating a motor vehicle or trying to pass a drug screen.

The Cannabix Technologies device is designed to detect THC, the psychoactive component of marijuana that causes intoxication of the user. The device is engineered to detect the component through the measurement of a breath sample. This sample will produce an immediate and accurate response of THC levels currently in the body and will have the ability to detect “recent use” of the drug in either a roadside or workplace test environment.

This method of breath analysis will replace the current method of data collection, typically through urine or blood analysis, which can take weeks to process and deliver results that include the detection of THC levels in the system from days or even weeks prior to the screening.

The Importance Of A Detection Device

Like it or not, the need for a detection device is going to play a significant role in law enforcement and workplace applications going forward. To some, the device might be another example of an intrusive vehicle used to step on the rights of citizens, however, the benefit of maintaining the safety of the community far outweighs the intrusion.

Little is actually known as to the degree of impairment that the drug actually causes, with professionals on both sides at odds as to whether or not driving a motor vehicle is actually impaired after the use of marijuana. However, as usage laws continue to be changed worldwide, an inconvenient compromise to users should be generally accepted, especially with the principal application being community and workplace safety.

With the legalization of marijuana becoming more prevalent throughout the United States and other countries, the BLOZF device has the capability of exploiting a new and untapped market to equip an extraordinary number of law enforcement agencies, institutional based customers, and private businesses to utilize in their respective enforcement categories.

BLOZF Introduces Beta 2.0

Cannabix has developed a second prototype, aptly named Beta 2.0. This prototype replaces the original device and is not only ten times smaller than the original model, but it also includes a rechargeable battery and touch screen feature.

The BLOZF science is based on quadruple ion mass spectrometry, which provides detection of lesser amounts of THC than the predecessor. Testing is underway, with the intention to provide a uniform protocol for live THC testing.

Cannabix, a Canadian company, will be testing it’s Beta 2.0 during the coming weeks, utilizing medical marijuana users that have either smoked or consumed the drug. The results of these tests will be used as submissions for approval of the Cannabix Marijuana Breathalyzer, with the intent of the submissions to be a determining factor in permitting the device to become a court- approved device by the Minister of Justice in Canada and the National Highway and Safety Authority in the United States for live field testing.

Cannabix expects to have the data analyzed and submitted for review with the ultimate goal of being officially endorsed by the courts within the next few months. This puts BLOZF in an enviable position in comparison to it’s potential competitors, who remain in the preliminary stages of development.

Cannabix Technologies By The Numbers

BLOZF stock has been smoking as of late. The shares are trading higher by over 88% since the beginning of October. Volume has increased substantially as well, with volume since October averaging approximately 400K shares per day, well up from the less than 100K share average prior to October.

The stock has been volatile of late, with 10% swings common on a daily basis. However, BLOZF has been able to hold the gains recently made and has traded as high as 72 cents during the previous two weeks.

Registered as a Canadian company, BLOZF does not file SEC mandated reports. The company does, however, file updated financials with the Canadian regulators.

As of the the April 2016 filing, the company reported total current assets of CAD$6.42 million dollars with no long-term debt or meaningful liabilities. The company reported slightly over 78 million shares outstanding at the time of the filing.

Cannabix Can Light It Up Quickly

With Beta 2.0 blazing through production and participant testing, the likelihood of BLOZF being first to market with a THC measuring device is expected. Being first to market can have a robust effect on demand and name recognition as the leader in the industry. Just as TASR became a household name in personal protection devices, the BLOZF device can become synonymous with marijuana field and workplace testing.

The good news for shareholders is that the company expects the results of its testing to be concluded and submitted within the next two months, and quick adoption by the courts would be probable if the results demonstrate what we know the company has already likely seen.

I have been long on BLOZF for well over a year, and the wait has been both long and testing. Cannabix has been slow to update shareholders, but, with curious competitors breathing down their necks, the silence has been understandable.

For those looking to purchase shares of BLOZF stock today, the test results will be dealt out sooner rather than later. The stock may very well whip an investor around during the next three months as the results are pending, so unless you have a strong tolerance for volatile trading, it might be best to pay more attention to company updates than to minute-by-minute trading action.

BLOZF is one of my picks as a long-term winner based on the progress made and potential first-to-market position. As always, I will keep a buzz on what BLOZF is doing and report accordingly.

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