Alternate Health announces latest innovation in cannabis tech
Management targets California market with comprehensive business management software
TORONTO, April 15, 2019 /CNW/ - Alternate Health Corp., ("Alternate Health" or the "Company") (CSE:AHG) (OTCQB:AHGIF), an international leader in technology solutions for the regulated cannabis industry, announced today that the Company is launching a new, comprehensive business management system in California, complete with integrations for Alternate Health's Zi App blockchain tax extraction and remittance system, Quickbooks cloud and desktop accounting applications and the California government's Metrc Cannabis Track-and-Trace software.
"Over the past five years, Alternate Health has developed leading blockchain tax collection, electronic medical records and patient management software, currently presenting our system to major cannabis producers, retailers and distributors nationally," says Howard Mann, CEO of Alternate Health. "Our experience has demonstrated an overwhelming market need for a single, comprehensive system to manage not only seed-to-sale tracking, but also blockchain transactions, tax administration and distribution in both medical and adult-use cannabis markets."
Product Details
Inventory Management
- Seed-to-sale inventory management system capabilities with full integration to the California Bureau of Cannabis Control's Metrc Track-and-Trace system. The system tracks not only flower and products, but also lab results, locations and staff authorizations.
Manufacturing Management
- Full software support for manufacturing processes, including inventory management, product recipes, batch numbers and lab certificates, meeting state compliance standards. Tracks inventory of non-cannabis inputs as well, including packaging and certificates.
Distribution Management
- Delivery and transfer management capabilities, tracking the movement of flower, products and certifications in locations across California, precise down to individual buildings in a given licensed facility. Also tracks employee activities and authorizations. (Mobile GPS-tracking currently under development.)
Dispensary Management
- Point-of-sale and inventory and staff management capabilities for any size of dispensary business, including multi-store operations. The software automatically calculates and administers both state and local taxes, with automated accounting reports and integration into Quickbooks cloud and desktop applications.
Practice Management
- Full integration with Alternate Health's CanaPass and FlorPass Electronic Medical Records (EMR) and Practice Management System. Ideal for medical cannabis distribution and quickly adaptable for medical-only state markets.
Automated Tax Collection
- System allows for automated tax extraction and remittance services through Alternate Health's Zi App Blockchain platform: An essential capability to manage transactions in the previously cash-only cannabis industry.
Flexibility
- The system's extensive list of features can be activated or deactivated based on the individual needs of a client, local market or state regulations. This allows the system to operate in a range of markets, including international and medical-only, while maintaining its characteristic security, efficiency and commitment to compliance.
Market Potential
"Our Business Management System, with comprehensive features and integrations, has immediate potential to drive efficiencies among the major players in the global cannabis industry," adds Howard Mann. "But we also expect the system's automated accounting, staff management and compliance and tax administration features to be indispensable to California's many small mom-and-pop and Social Equity license holders."
Since the system is currently fully integrated with California's state-mandated track-and-trace system, Metrc, Alternate Health is focusing on an initial beta rollout in the Los Angeles area, targeting 50 dispensaries by the end of the summer. In addition to further expansion across California, Alternate Health's Business Management System's flexibility allows quick adaption to other state markets, with negotiations currently underway with organizations in Arizona, Nevada, Florida, Michigan and New York.
"According to industry analysts, Los Angeles dispensaries are estimated to clear an average of $250,000* of sales per month," says Howard Mann. "Based on our goal of operating in 50 retail outlets across the region, we expect a monthly average of $12.5 million in transactions could pass through our system, once we achieve our target rollout."
*Marijuana Policy Group: Los Angeles County Cannabis Tax Considerations, May 1, 2018.
About Alternate Health
Alternate Health (CSE: AHG, OTCQB: AHGIF) is an international cannabis company, focusing on technology and value-added services. Alternate Health's industry-leading software systems provide the platform for the company's diverse operations, including blockchain tax collection systems, cannabis distribution, extract manufacturing and the first medial cannabis online portal approved by the Florida Department of Health.
Alternate Health's corporate office is located in Toronto, Canada, with additional offices in Venice, California, and San Antonio, Texas. The Company is well positioned to reinvest internal operating cash flow in its platform and product development over the long term, creating an attractive investment profile for its shareholders. Alternate Health resides in the cannabis sector along with companies like GW Pharmaceuticals, AXIM Biotechnologies Inc., and Canopy Growth Corporation. For more information about Alternate Health Corp., visit www.alternatehealth.ca.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations, business prospects, anticipated growth and potential revenues are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE Alternate Health Corp.
Investor Contact: Jim Griffiths | Investor Relations; Jim Tykoliz | Company Director, 1.416.607.5757
Share this article