Indoor Harvest Corp (INQD): It is not permissible at this time for a...

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Alan Brochstein

Re: thepotstockpicker post# 1622

Wednesday, 03/29/2017 8:45:55 PM

Wednesday, March 29, 2017 8:45:55 PM

It is not permissible at this time for a public company to have a license in Colorado. Recent changes did permit a limited number of out-of-state owners up to 30%, but not public companies.

http://www.leg.state.co.us/clics/clics2016a/csl.nsf/billcontainers/53F678C55E0B703987257F2400644D67/$FILE/SB040_upd.pdf

The bill allows qualified institutional investors to own up to 30% of a medical or retail marijuana business.

The bill prohibits a publicly traded company from being an owner in a medical or retail marijuana business.

See page 2 here: https://www.colorado.gov/pacific/sites/default/files/MedicalRedlines_2.pdf

There must be no publicly traded market for interests in the entity. A Closely Held Business Entity and each of the natural persons who are its shareholders, officers, directors, members, partners or owners, are Direct Beneficial Interest Owners.

Colorado is the biggest legal cannabis market. If it were legal for a pubco to own a license or even part of a license< then they would. There are no pubcos with equity in CO. I once called out a company that announced a deal to acquire a medical license. The deal, of course, never closed.

If you don't like my posts, don't read them. If you think only those who agree with you should post, then start your own message board. My conclusions are my opinion only, based on what I believe to be true. I have no crystal ball.