It's pumpkin season. Two Rivers, through its wholly owned sub, Dionisio Farms and Produce (DFP), to date has shipped 64 truckloads of pumpkins to various customers (including Wal-Mart) from Oregon to Texas. We anticipate pumpkin shipments to continue for another 2 to 4 weeks. Pumpkin shipments include pie pumpkins, which are in short supply and command a higher price than carving pumpkins.
We anticipate pumpkin revenue of approximately $4,500 per acre. Sure beats commodity crops, like corn which at today's prices would only yield $1,000 per acre, or less.
Pictured above is Two Rivers CEO, Wayne Harding, at a local Wal-Mart store. DFP also ships pumpkins through other brand names.
DFP is currently shipping over 60 truckloads a week of cabbage, squash and pumpkins. DFP expects to increase farming revenues by over 70% this year v. last year and make an operating profit over $500,000.
GCP1 Update
Clean up and repairs on GCP1 and the associated warehouse continues.
Everything has been pressure washed and had a chlorine solution wash at least once. We've put back in the drip tubing into ½ of the greenhouse and ran Sanidate through the tubing to get out any residue.
We will need to pressure wash with chlorine solution at least one more time – in particular on the stained wall/walkway areas.
The warehouse continues to be cleaned and we will soon begin final installation of curing room.
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This investor update contains “forward-looking statements,” as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with developing and acquiring land and water resources. There can be no assurance Two Rivers or GrowCo will be able to initiate and operate in accordance with its business plans. These forward-looking statements are made as of the date of this investor update, and neither Two Rivers nor GrowCo assumes any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
