INCC owns 100% of Medical Cannabis Holdings, Inc., a Colorado corporation ("MCHI"), which is in the business of acquiring companies with technologies that make growing and processing medical cannabis more efficient, cleaner, greener and smarter.
MCHI owns 100% of:
GroPro Systems, Inc., a Florida corporation ("GroPro"). Antonio Uccello, the CEO of INCC, stated, "We believe that GroPro has the best, most efficient and most effective system for growing medical cannabis hydroponically. GroPro is in the final stages of filing its intellectual property paperwork with the USPTO, which is expected to be completed in the coming weeks, after which we will be able to showcase the system."
Vortex Delivery Systems, Inc., a Colorado corporation that has purchased all of the assets of Vortex Water Pipes. MCHI anticipates adding delivery products to the existing Vortex medical marijuana lines.
Existing projects:
Chaffee County Property:
One of GroPro's significant customers (John Mehos dba Prosperous Valley) is finalizing his application for a medical marijuana grower's license for submission to Colorado, which INCC believes will be reviewed sometime after October 1, 2014. Assuming approval of the state application, GroPro will close on the real estate it has under contract in Chaffee County. It is anticipated that GroPro will begin construction of a state-of-the-art GroPro facility in Chaffee County beginning in the first quarter of 2015, with an anticipated completion by the end of the second quarter of 2015. INCC intends to lease the GroPro System in order to generate a recurring revenue stream. Prosperous Valley's application includes a lease of the state of the art facility and GroPro system for $1,000,000 per month, quarterly in arrears.
New Business Opportunities:
MCHI is working with several successful growers in Colorado to lease the GroPro System, two of which have made a preliminary commitment to leasing the system in Denver facilities. GroPro is also pursuing a joint venture with a real estate owner in Denver that is interested in partnering with GroPro.
MCHI is consulting on a preliminary medical marijuana facility and permit applications in Canada, and is currently in contact with Canadian officials and local landowners to determine the best course of action. Such applications could be completed and approved as early as the end of fourth quarter 2015, depending on Canadian municipal and provincial schedules.
MCHI is reaching out to existing and potential growers in Colorado, Washington, California and other states around the country to build facilities outfitted with the GroPro System.
Mr. Uccello states, "With many of the above initiatives already underway, we are setting the groundwork for our company today and for the future to be at the forefront of this nascent industry. We are truly committed to helping those who could benefit from medical marijuana by offering growers the best possible hydroponic solutions, and to create facilities designed to maximize growth and yield potential."
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