PlantX offers people in North America plant-based goods, plus plant delivery services. No wonder it is billed as “the digital face of the plant-based community.” It operates in the technology/ecommerce sector, consumer-packaged goods (CPG) industry, and plant-based products segment.
PlantX is building a group of consumers having similar ideas, attitudes, interests, or opinions as well as providing education all through a digital platform. The business enterprise is built and strengthened through partnerships with some of the best chefs, brands, and nutritionists. The company intends to not only branch out to cosmetics, clothing, water, and vitamins but also bridge the gap existing between the opportunities to invest in the above-mentioned industries.
PlantX now has an FMA (first-mover advantage) because it is the first company of its type to specialize in plant-based electronic commerce. For the uninitiated, the term ‘first mover’ refers to the first entity to do something in the market for a competitive edge.
Sean Dollinger is among the founders of this company. In a matter of months, Dollinger helped to guide PlantX from a zero-revenue business to one worth $1 million. It now plans to be listed on NASDAQ for more opportunities to widen its group of retail and institutional investors, improve its visibility, and accelerate growth. At the same time, it will keep maintaining its common share listings on the CSE (Canadian Securities Exchange). PlantX is traded on its home country’s stock exchange under the ‘VEGA’ symbol.
PlantX would submit Form 40-F to the US Securities and Exchange Commission. Listing the shares of PlantX on NASDAQ requires the US stock exchange’s approval, plus meeting every applicable regulatory and listing requirement.
As for Dollinger, listing on the US stock exchange is naturally a step forward considering his company’s continuing growth. He said that PlantX is waiting eagerly for the possible opportunities from that move for its plant-based product movement.
As per estimates, PlantX expects to have a monthly revenue of $2 million before the completion of this March. The company is solidly placed against its plant-based rivals that trade at greater revenue multiples. Investors still look at the above-mentioned growth metrics with much pleasure. As per PlantX, that investor behavior causes it to be a very undervalued company in its marketplace. Moreover, the Canada-based company is not only well-financed but also has a lot of money as it recently closed an oversubscribed financing of around $12 million.