WHIPPANY, N.J., June 12, 2015 /PRNewswire/ -- Pazoo, Inc.
(OTC Pinks: PZOO) (German WKN#: A1J3DK) is pleased to present to
the investment community an update on where Pazoo stands today. The
10-Q filing is late due to a few factors. Because the 10-K was
filed late it made it practically impossible to begin sufficient
work on the 10Q until we had made any required audit
adjustments. Prior to the 10-K filing, Pazoo was
insufficiently staffed to handle the major advancements of the
company. To address that the Company took certain necessary
measures to bring in additional staff and to revamp our process to
ensure that our financial team continually grows with the rest of
Pazoo. It is understood how unacceptable this tardiness is
and the real impact it has had.
David Cunic, CEO, states, "Moving
forward, I feel confident that we have a strong team and process in
place to avoid late filings in the future. To be blunt, I can't
begin to describe how excited I am over the progress that we have
made thus far. The heart of Pazoo was and is health and
wellness in all aspects. We believe in our mission and it
drives our team to be successful."
Pazoo's alliance with Steep Hill is by definition mutually
beneficial to both companies. Everyone is very enthusiastic about
using their superior cannabis testing technology as we work
together to continue our expansion. As you may have seen on
MoneyTV, Pazoo has recently acquired the remaining 60% of MA &
Associates, LLC. This means that Pazoo now wholly owns (100%)
the Steep Hill Las Vegas testing facility.
Harris Lee Colorado, LLC will be
formed to meet the state residency requirements for testing
laboratories. Harris Lee, Colorado, LLC will have a
contractual relationship with Harris Lee, LLC so that it can
operate a Steep Hill testing laboratory under the Harris Lee, LLC
license. The legal process is being wrapped up. A few minor
adjustments will be made to the current layout which will allow for
expansion of testing services currently being provided in the
Denver facility. The Portland, Oregon Steep Hill build out will
begin as planned once the lease agreement that we are currently
working on has been finalized. That facility will be operated under
Harris Lee, LLC.
CannabisKing Distribution, LLC is an example of internal
expansion that also further supports the cannabis testing
operations. For months, Pazoo has been approached by members
of the cannabis community asking for the company to fill a
distribution role for ancillary, non-regulated, products to
eliminate the currently existing void. This is a derivative
operation that should be successful in its own right.
However, CannabisKing Distribution allows an expansive ability to
network and expand the overall company's footprint into the
community. It is expected to directly increase overall market share
within the testing community. CannabisKing will co-exist with
laboratory operations, and is not limited to any one location.
Looking into the future, Pazoo expects to realize continued
growth by both acquiring Steep Hill licenses in additional states
and in separate projects that are in the works. Pazoo stands
by its intention of continuing testing laboratory expansion into
two more "mandatory testing" states by the end of 2015. Expansion
into at least three additional states is planned for 2016.
Pazoo hopes to have the largest footprint of any cannabis testing
company moving forward. It will be accomplished by using the best
technology possible and using multiple forms of networking to
continue that expansion.
David Cunic, CEO, further stated,
"The future is very bright at Pazoo. I am confident in how we
are strategically positioning ourselves into the market
place. Internally, the 10-Q delinquency will continue to
serve as a reminder to always seek improvement. We will continue to
roll out our overall vision in the same transparent manner.
We expect to continue adding real value to our company. I am
proud of our achievements, and I'm grateful to have an amazing
group of shareholders forming the foundation of our company."
ABOUT PAZOO Inc.
Pazoo, Inc., is a company focused on
health, wellness and safety. Our focus is to provide best-in-class
laboratory testing of cannabis and cannabinoids to protect
consumers from impurities, contaminants and other irregularities.
Through our wholly-owned subsidiary, Harris Lee, and our
partnership with MA & Associates, Pazoo provides
industry-leading laboratory testing of cannabis. Harris Lee's and
MA's license agreements with Steep Hill Labs, Inc. allows the Pazoo
subsidiaries to use Steep Hill's top-rated testing protocols in
select markets as we expand throughout the USA. Pazoo's subsidiaries are currently
licensed to test cannabis in Nevada, Oregon and Colorado, with other states to
come. Additionally, Pazoo delivers a comprehensive array of health
and wellness information on its website www.pazoo.com.
ABOUT STEEP HILL LABS Inc.
Founded in California in 2008, Steep Hill is a
science and technology firm that has become the industry leader in
cannabis testing and analytics. With owned and licensed labs in
four U.S. states and plans to add labs in New Mexico, Oregon and possibly Jamaica in 2015, Steep Hill is the largest
cannabis lab network in the world. The company pioneered the first
medical cannabis potency and microbiological contaminants testing
methodology for use in California
- the first state to legalize medical cannabis. Steep Hill
has since developed a variety of revolutionary cannabis testing
products, including QuantaCann™,
QuantaCann2™ and GenKit™. Steep
Hill provides expert consulting services to many states,
countries and municipalities, and the company is developing
proprietary genetic testing, mapping and trademark protection
services for the industry as well.
Safe Harbor Statement:
This update includes forward-looking statements. These
forward-looking statements generally can be identified by phrases
such as Pazoo, Inc. or its management "believes," "expects,"
"anticipates," "foresees," "forecasts," "estimates" or other words
or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives,
plans, intentions or goals also are forward-looking statements. All
such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statement.
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SOURCE Pazoo, Inc.
