Indoor Harvest Corp (INQD)

[Alan Brochstein]

Looks like INQD figured out it can't actually hold the license...

Alamo CBD and Indoor Harvest have retained Feldmann Nagel, LLC as legal counsel and engaged the services of John Seckman and Associates, LLC, to develop the parties Joint Venture plan in Colorado. The group has identified a 59,000 sq. ft. facility in Denver, Colorado and is in discussions with multiple license holders to secure and package a facilities and licensing agreement. If successful, it is intended that Indoor Harvest would be responsible for engineering and construction of the facility using its HPA technology. Further, the infrastructure would be owned by Indoor Harvest with a value added lease and licensing agreement to be executed with an existing Colorado license holder. It is also intended that the agreements would provide for Indoor Harvest to have the option to acquire the license holder subject to compliance with applicable in Colorado law.

Most of the p.r. is good news - fewer shares issued to Alamo, for instance.

This is downright funny though:

Both parties will continue to pursue efforts to obtain a license in Texas under the Compassionate Use Program. To date, the Department of Public Safety (DPS) has yet to issue an official denial to Alamo CBD, which scored in the top 20 of applicants. Alamo CBD and Indoor Harvest have joined the Medical Cannabis Association of Texas and are currently undertaking collaborative efforts to seek a hearing with the DPS regarding the application process.

Alamo's application didn't score in the top third. Once again, the company thinks an awful lot of itself but is unable to convince others.