Bots Inc (BTZI)

[lesgetrich]

There are also likely some contingencies for all the construction clients where the contracts becomes null and void if the client can't pre-sell/pre-lease the cultivation space

Another made up assumption with no basis in fact. Please show us an example of any construction contract that contained such a provision and prove that such a provision exist in mCig's agreements. You can't, can you?

Any contractor would be crazy to agree to such a provision. It would mean that the sub-contractors and suppliers wouldn't get paid. Consequently, construction contracts in all states are always protected by the ability to file liens against the property being improved. The contractor simply files a notice of lien within 90 days. Most contractors and sub contractors will file such a lien if they haven't received payment within thirty days. The leader of mCig's Grow Services Division, Ron Sassano, is a general contractor with years of experience. You can bet he's very familiar with the process...

Nevada Construction Lien Law

Who may file a lien?

Nevada law permits any person or corporation who performs labor or furishes material in excess of $500 value for most types of construction projects to claim a lien on the property being improved for the value of the labor or materials supplied. NRS 108.222.

How long does a party have to file a lien?

To claim a lien on improved property a Notice of Lien form must be filed in the office of the county recorder in the county where the property is being improved. The time limit within which a Notice of lien may be filed is, within ninety (90) days after the completion of work, or within ninety (90) days of the last delevery of materials byt he claimant, or within ninety (90) days after the last performance of labor by the lien claimant, whichever is later. NRS 108.226. In addition, a filed Notice of lien must be served upon the property owner within thirty (30) days of recording by personal delivery or service at the owner's residence or place of business. NRS 108.227.
A lien cliamant must wait thirty (30) days after the filing of a Notice of Lien prior to bringing suit to enforce the lien. NRS 108.244.

Also...

Mechanics Lien - Wikipedia

It seems highly likely that the legislators working on the first U.S. Mechanic Lien laws had knowledge of, and referenced these civil law concepts. Nevertheless, the United States version was original, as it gave builders a more robust right into the land itself (versus just the improvement’s value).[3]

With respect to real property, mechanic's liens are purely statutory devices that exist in every state (although in California, as noted below, they have a constitutional foundation). The reason they exist is a legislative public policy to protect contractors. More specifically, the state legislatures have determined that, due to the economics of the construction business, contractors and subcontractors need greater remedy for non-payment for their work than merely the right to sue on their contracts. In particular, without the mechanics' lien, subcontractors providing either labor or materials may have no effective remedy if their general contractor is not sufficiently financially responsible, because their only contractual right is with that general contractor.