BioTrackTHC, a subsidiary of Helix TCS Inc. (OTC: HLIX) has been announced as the conditional winner of the Maine Seed-to-Sale Marijuana Tracking System contract.
What To Know
In February, the Department of Financial and Administrative Services notified the public of their intent to enter into a contract with one of BioTrackTHC’s competitors without a competitive solicitation process. State legal counsel warned that the award could lead to costly and time-consuming litigation, as well as further delays to the implementation of the program. This resulted in the cancellation of the contract and the release of an open competitive Request for Proposal (RFP) process.
BioTrackTHC was named the conditional winner of the RFP with a score of 90 out of 100, with the next closest bidder receiving a score of 69.73.
What's Next
According to a press release issued this week, once the state and the company negotiate a contract, the Office of Marijuana Policy “will deploy BioTrackTHC, a cloud-based software product which uses barcode-based tags, to track the growth and distribution of marijuana and marijuana products throughout Maine.â€
The contract is worth $275,000 on a tag-based model that includes $0.25 per plant or package tag that is utilized within the state. Maine has a population of 1.35 million and is expected to rollout its adult-use program later this year, in addition to its existing medical marijuana program.
BioTrackTHC now holds nine government cannabis tracking contracts across eight U.S. states and Puerto Rico.
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