ACNV R/M Belived to be - Covalent Collective
On July 26, 2019 Geoff Thompson stepped down from his Duties as CEO. Bill Gregorak has taken over as CEO. ACNV shows Thompson as Interim CEO. We expect a update any day. The Company merging into the dissolved ACNV shell is believe to be " Covalent Collective ". Please review all the pics where both new and old CEO's are tied to Covalent Covalent Collective based in Colorado Springs, CO has set up a huge Network of Cannabis Companies. These companies are in business and already generating revenues. They are called Covalent Collective Colorado 16. From filings we have found all 16, with addresses and brief description of operations below. We have also Google Street viewed these locations to confirm actual operations, and Google places also confirms they are open for business. Please see pics below
Through our pending acquisition of The Patch I, LLC, we will acquire a national licensing agreement for a patented Medical Legal cannabis Transdermal Patch (U.S. Patent No. pending). We intend to further develop the commercial applications of this technology, which may include granting sub-licenses or manufacturing licenses to business partners who will utilize this product for patients who are suffering from ailments or chronic illnesses who have been prescribed medical legal cannabis and who may benefit from a transdermal patch as a medication delivery system.
OUR PROPOSED ACQUISITIONS
As noted previously (SEE “USE OF PROCEEDS”, pp15-16 above), due to the fact this Offering is a “best efforts” offering without a minimum amount required to be sold, we may close this Offering without sufficient funds for all of the intended purposes set forth above, or to fully execute our business plan. In such case, the allocation of our remaining proceeds may be further reduced or modified, or the priorities changed, and the acquisition of some or all of the following proposed entities may not be completed. Regardless of any modification of the acquisition plan resulting from any issues which may arise, in no event will an acquisition of an interest of less than 51% of any individual company be made.
On April 20, 2017, the Company entered into an “Equity Purchase Agreement” with sixteen separate entities to acquire, in three stages, controlling ownership of these entities. The total aggregate purchase price of these acquisitions if $15,997,500.00 in cash consideration and the issuance of 9,000,000 Shares of Common Stock of the Company to the various sellers. These acquisition transactions are scheduled to be concluded on or before February 1, 2018. [See: “Use of Proceeds”]. The entities proposed to be acquired are:
In January 2015, AvaCass North purchased a 104,000 sq. ft. industrial space that once served as a Pepsi Bottling Plant. It is located at 1900 South Freeway Dr. in Pueblo, CO 81004. The plan is to build out this facility to a state of the art 234,000 sq. ft. facility containing a cultivation, testing lab, office and infused products manufacturer to be leased out to a legal cannabis tenant. The build out will also create jobs in the economically depressed city of Pueblo, CO.
AzCo North, LLC
AzCo purchased this property at 975 W Fillmore in Colorado Springs, CO. 80907 in June 2012 as an old lube stop and was completely remodeled into a 1,600 sq. ft. retail store for the sale of medical marijuana. It is currently being leased by a legal cannabis tenant.
Joncass purchased this property at 2103 East Platte Ave in Colorado Springs, CO. 80909 in February 2013 as a Mobil Oil Change and was completely remodeled into a 1,700 sq. ft. retail store for the sale of medical marijuana. The property is currently leased by a legal cannabis tenant.
National Development Services, LLC
National Development Services is located at 3266 Centennial Blvd Colorado Springs, CO 80907. This company manages all of the financial and accounting duties for all 16 companies listed. They have a Management Contract in place with the entities for these duties.
Starting a dispensary or grow site is typically very complex, given the varying rules, regulations and many pitfalls involved. Cannabis entrepreneurs are seeking assistance from companies or people who have experience and can provide guidance on how to go about the process, which will open the door for Doyen’s services.
Colorado Financial & Development Services, LLC
Colorado Financial & Development Services is located at 3266 Centennial Blvd Colorado Springs, CO 80907. This company financed the 1 million dollar build out of the facility owned by Cassjo LLC. There is a Lease in place with Cassjo for the reimbursement of the costs.
CoAz North, LLC
CoAz North purchased this property at 1015 Hwy 115 in Penrose, CO. 81240 on April 2013 as two separate properties. The properties purchased had an existing 1,800 sq ft. space on one property and a small Quonset on the other property. The space was remodeled in 2013 and two 5,400 Nexus Greenhouses, for the grow of medical marijuana, were installed on the property with the Quonset. These properties are currently being leased by a legal Cannabis tenant.
CMJD purchased this property at 286 S. Purcell Blvd in Pueblo West, CO 81007 as an old auto dealership in November 2013. It was fully remodeled in 2013/2014 and is a 2,274 sq. ft. retail store for the sale of medical marijuana. It is currently being leased out to a legal cannabis tenant.
EliCass purchased a parking lot at 386 Purcell Blvd in Pueblo West, CO. 81007, in 2014 to be used as customer parking for the tenant using the facility owed by CMJD LLC.
CassJo purchased this property at 6345 E Platte Ave Colorado Springs, CO 80915 in June 2011 In Colorado Springs, CO as a 8900 sq. ft. 4 office industrial building. It was remodeled in 2012/2013 into a two story 17,000 sq. ft. facility with nine separate rooms, for the grow of medical marijuana. It is currently being leased by a legal cannabis tenant.
CJMColorado2 purchased this property at 318 South 8th St. in Colorado Springs, CO 80906 and was purchased In September 2015 and was used as a law office. It was remodeled in 2015 and is a 2,000 sq. ft. retail store for the sale of medical marijuana. It is currently being leased out to a legal cannabis tenant.
D&M Transport, LLC
D&M Transport is located at 3266 Centennial Blvd Colorado Springs CO 80907 and was formed in 2009 in the remembrance of the mother of one of the owners of the above companies. It owns a 2016 transport van and provides Free of Charge rides for Cancer and patients with other debilitating diseases that have no family or ability to get to and from appointments.
NGS Consulting, LLC (1)
NGS Consulting is located at 3266 Centennial Blvd Colorado Springs, CO 80907; and is one of the few consulting companies that provides full spectrum Cannabis Consulting for the legal cannabis Industry. With a proven track record, NGS Consulting has expertise in all aspects of licensing, compliance, cultivation, operations and more, regardless of what state you are located in. Solution Management, Employee Training, Floor Plans and Construction, and Increasing Harvest Yields are just a few of the tailored services that are available to those wishing to operate legally within the Legal cannabis Industry.
The Patch I, LLC (2)
The Patch I, is located at 3266 Centennial Blvd Colorado Springs CO. 80907. The Patch I, LLC is a research entity for the development of a transdermal patch for which the company has a U.S. Patent for the delivery of CBD and legal cannabis into the body. It will be a research and development license for different forms of pain and seizure relief.
The company intends to use this to benefit its business partners, who will need to leverage this patent, when seeking to provide a solution for those suffering from ailments or chronic illnesses who may benefit from the use of transdermal patches. The Company will avidly focus on researching and developing cutting-edge technologies to benefit the Cannabis Industry.
Hydroponics Depot, LLC
Hydroponics Depot is located at 10225 N Metro Parkway E. Phoenix AZ. 85051 and is the largest hydroponics equipment supplier in the state. It has a store front being leased on a long term basis. It also ships direct from the supplier to customers in several other states like California, Washington, Oregon and Colorado. Through its chain of stores, Hydroponics Depot, the Company intends to sell hydroponic and other equipment needed to operate clean, high quality grow facilities. As a provider of growing equipment and supplies; be it lights and fertilizers or climate control systems and advanced all-encompassing grow rooms.
Syntheto, LLC. (3)
The Company will also provide its clients with innovative green construction solutions that not only help decrease operational costs, but will also provide growing and cultivating ease.Syntheto is located at 3447 E. Angela Dr. Phoenix AZ 85032. Syntheto owns the United States rights to a proprietary patented Styrofoam material used in construction of cultivation facilities that is mold and pest resistant. The R factor is over double of standard building materials as well as being platinum LEED certified to enable each build to receive every tax credit available and local and state government entities.
Consign Meds, LLC
Consign Meds is located at 3266 Centennial Blvd Colorado Springs CO 80907. Consign Meds LLC provides Cannabis businesses (vendors) with the platform to source and finance wholesale transactions while offering extended payment options. Consign Meds is currently inactive and has had no operations since its inception.
We have not included financial statements for certain of the proposed acquisitions listed above due to the following considerations:
(1) NGS Consulting LLC is a limited liability company whose owner is not the owner of any of the other 15 entities and therefore was not included in either of the two sets of audited financial statements presented. NGS Consulting’s total assets and net loss were 0.4% and 0.1%, respectively, of the combined assets and net losses of the 16 entities. Audited financial statements of NGS Consulting were not provided due to the immaterial amounts involved.
(2) The Patch I, LLC is a limited liability company organized on January 27, 2017. Since this entity was not organized until after the date of the audited financial statements (December 31, 2016) it was not included.
(3) Syntheto, LLC is a limited liability company organized on July 27, 2017. Since this entity was not organized until after the date of the audited financial statements (December 31, 2016) it was not included. The sellers originally wanted Syntheto, LLC to be a Colorado entity until their attorney advised against, so the limited liability company was organized in Arizona.