LIT IO, Inc. is poised for rapid growth in the Cannabis/Hemp industry. The Business seeks funding to take advantage of a window of opportunity for introducing a new Social Media/Marketplace service, which has the potential to dominate the market.


Mission Statement. LIT is a social media/marketplace built to connect people and businesses in the cannabis and hemp industry. Our mission is to strengthen the community and provide opportunities for the people and the businesses.


Business Description. The Business is organized as a C-Corporation formed and authorized under the laws of the State of Delaware, and will be led by Michael Nylif, who will serve as CEO.

Michael Nylif spent over 3 years conducting market research in the cannabis/hemp industry by traveling and surveying consumers, businesses and professionals in the industry. Before that, his profession was in commercial content creation, creative business consulting and education. What got him interested in the industry was the aggressively expansive opportunities for medical science and research. With his passion for the industry and knowledge of business, he knew that with the current problems in the industry he could develop a very desired solution.

New Service. The Business has developed a Social Media/Marketplace platform which was created for the following:


LIT was founded to solve a major problem. Businesses are struggling to find suppliers. Suppliers are struggling to find buyers, and consumers are struggling to buy quality products at competitive prices. We believe in helping the industry connect, succeed and stay competitive.


LIT’s vision is to become the cannabis/hemp solution for the whole industry worldwide. As a niche tech business, we will continue to innovate and develop new solutions to make the industry flourish.


The Business has a window of opportunity to introduce its services and gain a significant piece of the market share.

 


INDUSTRY PROJECTIONS

CANNABIS

The global cannabis market Size was valued at USD 10.60 billion in 2018 and is projected to reach USD 97.35 billion by the end of 2026, exhibiting a CAGR of 32.92% in the forecast period 2019 to 2026.

Cannabis legalization is gaining momentum around the world. This momentum is driven primarily by the increasing recognition that cannabis may have a range of legitimate medicinal benefits and therapeutic applications. Cannabis is the most widely cultivated, trafficked, and consumed drug worldwide, according to the United Nations Office on Drugs and Crime (UNODC). Cannabis is a genus of a flowering plant and its use dates back to thousands of years, with consumption-based on recognized and accepted therapeutic and medicinal benefits. The social and spiritual utilization of cannabis is also well-documented. Cannabis sativaCannabis indica, and Cannabis ruderalis are three dominant cannabis species. Most cannabis or marijuana varieties are grown today are hybrids that exhibit features of two or more of these principal species.

The hemp with a negligible amount of psychotropic substances is majorly derived from Sativa family and finds extensive application in paper, textiles, biodegradable plastics, and fuel. It is also one of the fastest-growing agricultural crops, requiring little to no pesticides, less industrial processing post-harvest, and low overall environmental impact. Industrial hemp is farmable on most of the world’s agricultural land, with China, Canada, and France as some of the major exporters.

 



INDUSTRIAL HEMP

The global industrial hemp market size was estimated at USD 4.71 billion in 2019 and is expected to register a revenue-based CAGR of 15.8% over the forecast period. The market is driven by the growing demand for hemp oil and fibers in the automotive, construction, food and beverage, personal care, and textile industries; especially in emerging regions such as Asia Pacific. Rising demand for oil paints, varnishes, printing inks, fuel, solvents, chain-saw lubricants, putty, and coatings is expected to further propel the product demand. In addition, growth in the investment for the production of hemp based products is expected to drive the market growth.

Low prices of the hemp as a crop encourage farmers to diversify their crop options, which has increased the number of producers. In Canada, the national acreage of industrial hemp has witnessed about 25% annually in Canada. In addition, the retail value of these products sold in the U.S. saw a significant rise in 2018. The major market players focus on the full utilization of the crop to gain greater market share.

                              

Industrial hemp is a highly regulated crop across the world and licenses from a different country and state authorities are required to grow, process, distribute, and use these products. On account of the liberalization in regulations, the countries are producing and consuming a significant amount of this product which is expected to drive the growth of the industrial hemp market over the next eight years.

Enforcement of regulations such as the 2018 Farm Bill, which removes the requirement for Drug Enforcement Administration (DEA) registration for growing and/or manufacturing certain kinds of cannabis is expected to provide the impetus for the market growth. In addition, the recent approval of the United States Department of Agriculture (USDA) hemp rules by the White House is also expected to positively influence the product demand.

TARGET AUDIENCE
     
HEMP   CANNABIS
     
USERS   USERS
     
*Age:18-55   *Age: 21-55
*Sex: M/F   *Sex: M/F
*Behavior: Current user of CBD Products and active on social media platforms   *Behavior: Current user of Cannabis Products and active on social media platforms
     
Businesses   Businesses
     
*Retail   *Dispensaries
*Farms   *Farms
*Wholesale   *Processors
*Manufacturing   *Social Providers
     
MARKETPLACE
     
B2C & B2B
We charge businesses a 5% service fee for utilizing our platform
     
Average Transaction B2C   Average Transaction B2B
$50   $10,000
     
ADVERTISING   DELIVERY
Cost of CPC/CPV varies based on MKT demand   We charge a $5 delivery fee
     
Average Mo. Ad Spend   Average Delivery Spend
$400   $10

 

                    COMPETITORS

   

Total Monthly Visitors: 7.23M

Annual Revenue: $175M (Est.)

Business Model: Directory Listing & Ads

  

Total Monthly Visitors: 14.18M

Annual Revenue: $343M (Est.)

Business Model: Directory Listing & Ads   

Total Monthly Visitos: Unknown "New Company"

Annual Revenue: Unknown

Business Model: Directory Listing & Ads
 

                                                           

Meet Our Team

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Chairman, CEO & Founder

Michael Nylif

Mr. Nylif spent over three years conducting market research in the cannabis/hemp industry by traveling and surveying consumers, businesses and professionals in the industry. Before that, his profession was in commercial content creation, creative business consulting and education. What got him interested in the industry was the aggressively expansive opportunities for medical science and research. With his passion for the industry and knowledge of business, he knew the need for this app.

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