Stashlogix – Skip Stone
Stashlogix – Skip Stone
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Skip Stone: [00:00:24] So if we're a Boulder Colorado company people relate to us in the outdoor endeavors people bring in their cannabis with them for various things. So we're trying this really on and on the outdoor lifestyle and kind of fit more like an RBI type.
Dan Humiston: [00:00:47] It's the MJ bulls podcast a show about raising cannabis capital. I'm Dan Humiston And on today's show how this company took the need to protect and discreetly transport cannabis. They created the industry's premier cannabis personal storage system.
Dan Humiston: [00:01:13] Today the raising cannabis capital series we are joined by Skip Stone who is the CEO of stash logic. Skip. Welcome to the show.
Skip Stone: [00:01:21] Thanks Dan. I've been following your podcast for a while so it's an honor to be.
Dan Humiston: [00:01:25] But we're happy to have you. We've done a lot of shows about companies that provide products and services leading up to the sale but we haven't been done very many shows about companies that provide post sale products or services. Let's start there. What are some of the Post's purchase concerns or challenges that patients encounter.
Skip Stone: [00:01:46] I guess I would say keeping edibles out of kids hands has kind of been our driving force for us. Edibles need to be locked up around kids so that's kind of been our primary selling point. But in addition that there's a lot of other challenges with how you carry and consume cannabis and in general cannabis is dirty and smelly and sticky. But it's also beautiful and fragile and it's medicine and it's not for everybody. So there is a lot of different challenges to tackle. Everybody has their different needs but we look at it from our tag line of thoughtful secure and discreet.
Dan Humiston: [00:02:20] So it's kind of where does your company stash logic comes in thoughtful secure and discreet personal cannabis storage systems whether you're traveling or you have it in your car or you have it at home. I mean you don't want to screaming guess what's in this bag right.
Skip Stone: [00:02:37] Right yeah. Not everybody wants to wave the green flags and look that smells me over here. You know a lot of people want to be discreet and explore this new world in private on their own terms.
Dan Humiston: [00:02:48] Yeah. So business and plus like you said you have it at home you don't want the house cleaner tapping into it or you're worse yet your children or their friends. And I think if I read correctly your storage systems have locking mechanisms on them.
Skip Stone: [00:03:04] Right. So the concept was I enjoyed edibles and had for many years. But once 2014 came around and Colorado legalized gummy bears and all sorts of more predictable low dose micro dosing options I realize there's a big opportunity here. And also realized that my two young kids and babysitters and others could potentially be affected. So I thought that's a problem that the whole world is going to experience at some point. So I decided to start moving forward and with some options on how to store things responsibly meaning to lock it and keep it out of the wrong hands.
Dan Humiston: [00:03:39] Yeah and it's odor free. And that's another selling point of the product.
Skip Stone: [00:03:43] Yes we handle odors multiple ways but that's definitely one of our bigger. That's kind of the discrete part of our tagline but we either seal the odors in with the zippers and gaskets or liners and sometimes you're absorbing sometimes or we're trapping odors inside.
Skip Stone: [00:03:58] So there's a lot of different ways depending on which product we're using I'm on your Web site right now and a lot of different styles but it's almost like fashion I'm gonna get myself in trouble here because I have no idea about fashion but they look like handbags. I mean as far as I know they look like handbags.
Skip Stone: [00:04:14] So originally our products are probably most known for our storage cases which they are travel bags but they're also used for at home use and that's a great use case for our products and that's probably where we got our most traction. But we know that there's a lot of different opportunities people are traveling. People are going for a night on the town they're really going to visit their in-laws. They're just going to work or riding a city bus. How do you tackle all of these challenges one product isn't going to set everybody's needs so again a very stylish but very discreet.
Dan Humiston: [00:04:47] It could be anything. It's not screaming what's inside outside of the handbag or the carrying case.
Skip Stone: [00:04:53] All right. So if we're at a Boulder Colorado company people relate to us in the outdoor endeavors. People bring in their candidates with them for various things. So we're trying to really hone in on the outdoor lifestyle and kind of fit more like an aria type image less of like a product type fashion more going for what we think people are using these things for us hiking and biking and yeah things that they're out and about.
Dan Humiston: [00:05:19] It's definitely got the boulder vibe to it. My daughter goes to see you. And so I'm in there quite a bit. It's definitely got that sort of vibe to it it really is cool.
Dan Humiston: [00:05:31] I want to take a minute to remind all of our listeners about a new podcast produced by MJbulls media appearances a weekly show about the company's products and entrepreneurs who are using this amazing plant to create and improve the products we use every day. You can listen to hemp barons every Tuesday on Apple iTunes Stitcher Spotify wherever you get your podcast from.
Dan Humiston: [00:05:55] Let's jump forward. You've been doing this for a few years now and I had a chance to look your financials in a couple of things. Just jump right off the page at me. The biggest one is you guys are cash flow positive with really big profit margins. That's impressive for a young company.
Skip Stone: [00:06:12] Yeah. We feel really fortunate. Part of it is necessity because this industry is challenging it's hard to get access to money we have raised some. But we've been up and running for about three and a half years now and we've been raised in a couple of years and mostly because we've just been heads down building the business. We were on a small team we try and minimize all of our complexity by incorporating a lot of software just outsourcing lower value work. So we have a pretty lean and mean team we handle almost everything we do in-house from design to advertising marketing photography. So part of that good story good operators is that it's been out of necessity but yeah we feel really fortunate things are working.
Dan Humiston: [00:06:51] I'd say I was looking at the that the seed round investors are getting great people to be psyched.
Skip Stone: [00:06:59] Yes a lot of that was friends and family and we as a co-founder and the couple other more regular investors but yeah they're happy with our progress obviously were cash flow positive. We don't need to raise money but we see a big opportunity here. So we want to grow much quicker and it's going to take a while if we have to do it organically industry wise land grab in your first mover in in order to gobble up market share right now.
Dan Humiston: [00:07:24] It makes sense that this is the time to start your Series A round and you're launching it in. I got to say it looks very investor friendly. I mean it looks great for investors. Are you comfortable sharing some of the details with us.
Skip Stone: [00:07:36] Sure. We're raising a million dollars. We're doing that as a five million dollar valuation. We feel the timing is important and we'd love to get going on our master plans. But yeah we've just said we're cash flow positive.
Skip Stone: [00:07:49] Last year we had 59 percent profit margin so fifty nine percent that is just great for three year old company that is so well done.
Dan Humiston: [00:07:59] We've been speaking with Skip stone from stash logic and we'll have all their contact information investor information on the MJbulls web site. And skip this looks like a really investor friendly opportunity for people and I don't know that it's going to be around long if somebody is interested they may want to get in touch with Skip right away. Skip thanks for being on the show today.
Skip Stone: [00:08:21] Thanks and I really appreciate it. And yet anybody who's trying to get a hold of me. We are in the midst of this round and it so reached me a skip and sash logic stock column.
Dan Humiston: [00:08:30] Good luck with this Skip and let's stay in touch. OK. Sounds great Dan.
Dan Humiston: [00:08:37] Just a quick reminder that you can become an Mbulls member for just four dollars and ninety nine cents per month and enjoy exclusive access to companies pitch decks and the MJbulls cannabis capital directory joined today at MJbulls.com.
[00:08:53] Thanks for listening to the MJ bulls podcast. To learn more about today's guests or to become a guest. Visit our website at MJbulls.com. Today's show is produced by MJ bulls media with original music composed by Jamie Humiston.
[00:09:07] I'm Dan Humiston and you've been listening to the Mjbulls podcast.
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