Helix Technologies Inc (OTCMKTS:HLIX) has successfully launched its cannabis sales tracking system in Illinois, processing more than $3.2 million in transactions on the state’s first day of legal sales.
The Denver-based company’s Biotrack system processed the sale of more than 70,000 items on the first day, which ballooned to 750,000 — some $11 million — by the end of the first week.
“This was the largest single deployment in industry history, and I am honored that the State of Illinois selected BioTrack as its partner,” CEO Zachary Venegas said in a statement. “Our team demonstrated a real passion and drive to complete this effort flawlessly.”
Illinois is now the largest Midwest market where recreational marijuana is legal, with first-day sales topping those in neighboring state Michigan ten times over, the company said.
“Our biggest challenge upon launch was ensuring that all users had the requisite knowledge prior to going live,” COO Moe Afaneh said. “Our support and training personnel have been putting in long hours, especially over the holidays, to make sure everything went smoothly and that focus hasn’t ceased in the last week. The success of this launch is a testament to their hard work and customer service focus.”
Cresco Labs, a Chicago-based medical marijuana company, partnered with Helix.
“Biotrack was nothing short of excellent concerning its collaboration of this massive Illinois launch at our Sunnyside Dispensaries,” Cresco EVP of Retail Operations, Jourdan Kurtz, said. “The Biotrack team was extremely informative, professional and executed real time adjustments to fix any issues we ran into daily/nightly. They were truly a wonderful partner in this process, proactively reaching out to us and checking in to see that the system was operating smoothly.”
The company's stock recently traded 11.3% higher to $0.51 a share in New York.
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