thanks for your continued dd on this aspect of NEWC's operations. Other than purchase orders the PR you post was the only one which directly mentioned income so I forgot about the breakeven med mj statement. Breakeven in any revenue steam is an important milestone for this stage-still waiting for that to be reflected in 10q's etc when they are posted
prior to med mj they had a farm for another product - dont remember-palm oil? that didnt come to fruition
From the last 10Q
On March 20, 2014, the Company acquired crushing plant machinery from a third party, at a cost of $320,000. In connection with the transaction, the Company is scheduled to make payments to the third party through 2015. For the three months ended March 31, 2015, the Company made payments amounting to $20,900. The due to in the Company’s consolidated balance sheet under accounts payable and accrued liabilities was $249,100 and $270,000 as of March 31, 2015 and December 31, 2014, respectively. The due to is non-interest bearing. See Note 6.
Depreciation expense was $669 and $669 for the three months ended March 31, 2015 and 2014, respectively.
NOTE 4-INVESTMENT IN PROPERTIES
The Company has made certain investments in Colombia, related primarily to investments in local farms. As of March 31, 2015 and December 31, 2014, investment in properties was $56,344 and $56,344, respectively.
NOTE 5-EQUITY METHOD INVESTMENT
Effective December 1, 2014, the Company acquired 50% of ownership interest in Sannabis SAS, a Colombian entity, for consideration of $25,000. The Company agreed to a total contribution of $125,000 for the 50% ownership. Through March 31, 2015, the Company had only contributed $41,700. The Company agreed to the acceptance of the ownership as of December 1, 2014, receiving 50% ownership of Sannabis SAS.
Imo. Do your dd before investing. I'm not a financial adviser nor compensated for my posts. They don't believe what they say, so why should you?
