Next Generation Management Corp is an energy company that has recently shifted its direction to the medical marijuana sector. Though it has retained its energy business, its current focus is on the retail and cultivation of medical cannabis, considering this “its most recent and promising direction.”
The company’s history goes back to its founding in 1980. It has since had various businesses and names, including Micro Tech Industries, Inc and Next Generation Media Corporation. It was operating as Next Generation Energy Corporation when it started to shift and devote its resources to the marijuana industry in March 2014. Finally, in June 2014, it became Next Generation Management Corporation.
New Generation Management now trades in the OTC markets under the symbol NGMC. Its market cap is at USD 2.76 M.
To cater to its marijuana operations, the company formed its wholly owned subsidiary NextGen Cannabis Consulting LLC. It already operates a cannabis dispensary in Los Angeles, California, with plans of expanding into Oregon.
This division generates its initial revenues by providing marijuana businesses with end-to-end dispensary management services. These include facility management, security, staffing, and supply chain technologies. It has also partnered with software company BioTrackTHC for seed-to-sale solutions in cannabis compliance, management, and sales.
Next Generation’s energy division continues to operate as Next Generation Energy Corp. It explores and develops properties of natural gas and petroleum in the US. Through this division, Next Generation owns Knox Gas LLC, which acquired in Knox County, Kentucky a collection of oil and gas leases.
Next Generation Management Corp is led by Darryl Reed, who holds the roles of Chairman, President, CEO, CFO, and Principal Accounting Officer. Together with him is Kim M. Agger, the Director of Franchise Relations.
Yahoo! Finance: NGMC News
Latest Financial News for NGMC