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We are in the process of directly or indirectly through subsidiaries, applying for state licenses to operate in the cannabis industry. The application process is extremely competitive and we may or may not be successful in obtaining one or more licenses. In the event we are not successful in obtaining the licenses applied for or if the approval of the licenses is significantly delayed, we may not be successful in implementing our business plan.
The above statement comes form the formal filing dated Nov 10th.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10294295
GB Sciences Nevada did not receive approval from the State of Nevada for two dispensaries
“Although we do not mean to understate the immediate commercial value of the cultivation license we were granted, our primary focus in obtaining the license was to enable the clinical research efforts we have planned, and to continue our other research initiatives into plant genetics, curing techniques, and the development of strains that are effective for particular diseases,” said GB Sciences, Inc., CEO Craig Ellins.
Sounds like they will just do research....
http://gbsciences.com/gb-sciences-las-vegas-cannabis-cultivation/
It appears there will 2 to 3 times the amount of product needed. That might have an adverse effect on GBLX.
Clark County, are seeking a total square footage of cultivation space roughly two to three times the state's calculations of what's needed
http://www.reviewjournal.com/news/pot-news/clark-county-rejects-medical-pot-grow-limit
The state of Nevada turned them down for dispensary licenses. Maybe next year they can reapply. In the mean time they can cultivate and try to see their marijuana to another dispensary. But most approved dispensary have their own cultivation so GBLX better begin to sell those boxes or merge with another company.
GB Sciences Nevada did not receive approval from the State of Nevada for two dispensaries
http://www.otcmarkets.com/stock/GBLX/news
As part of implementing our strategy in Nevada, we sought cultivation and dispensary licenses for medicinal cannabis in Nevada. On November 3, 2014, our license application to cultivate cannabis in Nevada was granted. However, on the same day, our license applications to distribute cannabis were denied. Accordingly, in Nevada the Company will be able to cultivate cannabis but distribution of the cannabis produced in the growing process will be through retailers who have received cannabis distribution licenses. I t is the company’s intention that many of the initiatives outlined in the Business Strategy section, will take place in Nevada and other appropriate locations.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10294295
First link is the news and the second link is offical filings from the company itself......
Good Luck !!!
Please advise who GBLX will sell their cultivated MM to since they were turned down on opening a dispensary. Plus the State of Nv advised there are 2 to 3 times the number of cultivaters needed based on demand. Good luck GoodTrader (pun intended)
I wouldnt be too concerned with Billionaire Phillip Frost as a backer!!!!!
good call we are at .40
Please give link or location of Monday's meeting ref licensing. I have checked clark county and see no meeting for Nov 10th.
Hopefully the SEC is monitoring the trade action , such as a few days ago when the price hit .57 and then retraced to .37 on heavy volume. Next week Clark County will issue final licenses and TRTC is a top contender. I look forward to an end of artifical selling pressure and the results of the SEC investigation.
I thought most dispensaries are building their own cultivation center. Who is GBLX going to sell their product to? Plus the STate of Nevada was concerned there was 2 to 3 times more cultivation locations than necessary........ I wish u the best of luck !!!
GBLX failed to get Dispensary Lic's
GB Sciences Nevada did not receive approval from the State of Nevada for two dispensaries for which it had received approvals from Clark County and The City of Las Vegas. This puts the Company in a position similar to others who received state approval, but were denied or not yet approved by one or both of the other jurisdictions. It is unclear when, how, or if the inconsistencies between the state, city and county approvals will ultimately be resolved. While it would have been beneficial to have received the state dispensary approvals at this time, it does not detract from GB Sciences' primary mission.
https://globenewswire.com/news-release/2014/11/06/680516/10106761/en/GrowBLOX-Sciences-Receives-Nevada-State-Approval-for-Cultivation-of-Cannabis-Based-Therapies-in-Las-Vegas.html
Does anyone know for sure that TRTC signed the waiver to be included on the public posting of rankings?
Las Vegas, Aug. 19, 2014 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC) is pleased to announce their subsidiaries MediFarm, MediFarm I and Medifarm II have submitted their applications to operate Medical Marijuana Enterprises (MME) to the state of Nevada. The following summarizes the applications:
Clark County Nevada
Dispensary on Decatur Blvd
Dispensary on Dessert Inn Rd
Cultivation on Gary Ave
Production on Gary Ave
City Of Las Vegas
Dispensary on Western Ave
Washoe County
Dispensary on S. Virginia St
Cultivation on Pyramid Way
Production on Pyramid Wa
http://globenewswire.com/news-release/2014/08/19/659603/10095235/en/Terra-Tech-Subsidiaries-Submit-Eight-Nevada-State-MME-Applications.html?print=1
Las Vegas, Aug. 19, 2014 (GLOBE NEWSWIRE) -- (TRT#) is pleased to announce their subsidiaries MediFarm, MediFarm I and Medifarm II have submitted their applications to operate Medical Marijuana Enterprises (MME) to the state of Nevada. The following summarizes the applications:
Clark County Nevada
Dispensary on Decatur Blvd
Dispensary on Dessert Inn Rd
Cultivation on Gary Ave
Production on Gary Ave
City Of Las Vegas
Dispensary on Western Ave
Washoe County
Dispensary on S. Virginia St
Cultivation on Pyramid Way
Production on Pyramid Wa
With all do respect Trt# has 8 pending licenses in the STate of NEvada.
I just dont know enought about GBLX to buy in yet and that recent pr that there was some scrutiny "looking" at GBLX didnt help. Peterson has an existing dispensary and i like those under him. I dont like his financing so far and will be watching.
There is much debate about that... alot of people feel a free market will bring the prices down which will be good for the customer. I am sticking with TRTC . Good Luck with GBLX.
thanks, I am trying to understand their costs. They are about to get a Nevada license(S), we will find out tomorrow. If so I wonder how many units will be placed in their cultivation center and the costs associated with that. I see they have solar panels, but each unit has an a/c unit which i doubt could run 24/7 on solar power alone.
HOw much does one box cost? HOw many boxes will the company use in Las VEgas cultivation building? Where can I go to see these boxes in operation now? thanks in advance
MONDAY PRICE PREDICTION CONTEST
Just put your name and guess below.
This is for the closing price.
Make sure to copy and paste the entire post including your guess, just like you did for the 6 Licenses Prediction Contest.
There will be no prize in this contest aside from bragging rights and kingship/queenship.
Sleek .73
TDAWG .51
Dmcc .59
LaughinPaulRyan .75
StevenRisk .64
Magnum7419 .54
Stock is amazing. I watched the rep from MDBX give a presentation to city of Las Vegas for a dispensary license and he was terrible and of course they denied him the license.... yet here we are and the price is up..... strange ... maybe the word isnt out yet.
If you look at the new short interest, you will see it has increased by about 300,000 . Short interest is the reason the share price is not 1.00 right now plain and simple. Just look at TRTC competition for Las VEgas License GBLX and u can see it has increased dramaticly on small volume and given the fact that all it can offer is individual grow containers for individual plants I dont see how its share price can justify being three times that of TRTC.
The share price was in the low .70's in June when the SA article came out. Since then there has been at least six events that should have increased the share price. That being said, if we get one license within the city of Las VEgas the price should be valued at least .75 cents. IMHO
Your confusing your 8 with a 6 cause it is .36
No Problem, it is obivious that link is just a pump for some daytrader action. But as finding funding, i really think the investors are in the wings with $$$ and just waiting for TRTC to get the license and deal with all the risk. And I hate to repeat myself but I really think DP should consider a spin off and separate Medifarms from Edible GArdens and the spin off would be considered a dividend in free shares that would boost shareholders spirit and create funding for Nevada in the form of an IPO.
I am confused, u say i am totally wrong yet agree DP wants to sell to Big Tobacco ?
Latest Projections: Behind The Scenes_Terra Tech (TRTC) Will Be Acquired By Altria (MO) Prior To Year End Predicts Sierra World Equity Review. Shares of TRTC finished marginally lower at the end of Friday's session. Look for the official news coming, when it breaks remember Sierra World Equity Review called this first!
http://sierraworldequityreview.blogspot.com/2014/10/behind-scenesterra-tech-trtc-will-be.html
I use to live along the east coast of Florida and received a call from a friend the other day who said alot of cities in Palm BEach County have passed a One year Moratorium , as they want more time to understand all the issues. I cant understand that this will force MM businesses to the County area and enrich the county tax base only. Can you comment on this.
I am very excited and hope DP does a spin off like I have experienced in the past. It will resolve alot of issues and as a dividend to current shareholders, its a way of saying thank you for your support. I am hoping for one free share of medifarm stock for every XXX of shares of TRTC for share holders of a record date that would be such where there would be no more weak hands selling.
IN a recent interview DP talked directly about curtailing any further dilution.
In the last interview with D.P. he was happy with the progress of Nevada and was working on Florida , hence he has the financing issue resolved and will release that information at the proper time.
Please disregard my last post . I forgot !!
I am and have been a member of Green Rush TRading Group on FB for a long time and I can assure as it relates to TRTC all comments are based on a LONG position.
6 Licenses Price Predictions
Here are the rules:
The price you pick is your best guess for the maximum price TRTC will attain within 3 trading days after the press release that announces that TRTC gets 6 licenses.
So if press release occurs in premarket, that day counts as day 1.
For example, if press release occurs in premarket on a Monday, then you are guessing the maximum price that TRTC will hit thru the end of trading Wednesday.
If the press release occurs after the market close on Mondsy, then the close of trading on Thursday ends the contest.
If the press release occurs during the trading day, if it occurs before 1:00PM EST on Monday, then the contest ends at the close on Wednesday.
If the press release occurs during the trading day at 1:00PM EST or after, then the contest ends at the close of trading on Thursday.
To reiterate, this contest is about TRTC announcing they have procured 6 licenses in Nevada.
You only get one guess and you can't change it-
If you choose to participate in the contest, then add your prediction and repost this entire post. Cut and paste the entire post but add your prediction
Infoseeker: .47
Ceps: .47
JMart22: .53
FallingKnife75 $0.54
longanisa .62
Magnum7419:68
SSCadaver: .72
GreenGro: .74
senor_c: .78
JohnnyBlaze55: .80
madness420: .81
Cbdpotential: .83
LizzyG: .84
Jethroe1: .86
SJI: .87
Skoman: .88
AlexSwiss: .97
Tomar: $1.00
Blakedog: $1.13
Tahoe74: $1.18
pittski: $1.18
fatstaxx: $1.23
Flyfish: $1.26
Jtyler1: $1.27
Joedenelly: $1.36
Crystsl: $1.42
Fuzzychin: $1.45
VagasPatrick: $1.48
Lax: $1.54
Fibro77: $1.63
gibber73: 1.65
Magnetics 1.71
AverageJoe: $1.73
hobowilly: $1.83
Greenjeans: $1.87
Jumbo: $1.99
On2_addict $2.00
thealex: $2.07
MatthewMJ: $2.10
Tradescott818: $2.10
Sleek: $2.11
Eltatopr: $2.18
Maxxm: $2.25
str8bettin: $2.32
32saorise32: $2.33
Pot Penny: $2.34
bfsingle: 2.37
Dickybad: $2.80
RT: $2.81
bigdog121: $3.07
Allson: $4.20
Neesh: 0.75
Department of Health officials are seeking to dismiss a challenge brought by the state’s largest grower over Florida’s burgeoning medical marijuana industry.
In September, Miami-based Costa Farms filed a suit with the state Division of Administrative Hearings. The challenge questioned the proposed rule 64-4, which seeks to use a lottery to award five licenses — one for each region of Florida — to cultivate and distribute Charlotte’s Web, the non-euphoric strain of medical marijuana legalized this spring by the Legislature and signed by Gov. Rick Scott.
Costa’s complaint also contends the proposed rule is invalid because another part of the rule restricts qualified nurseries to apply only once for a dispensary license, but other entities that partner with nurseries can submit multiple applications.
The DoH filed a dismissal on Monday, arguing that Costa has no legal standing to challenge the rule, basing its case on a deposition of Pedro Freyre, Vice President of the Foliage Division for Costa Farms, taken October 3.
http://politicsofpot.com/archives/tag/florida-department-of-health
Apparently the way the law was written TRTC could do a LOI with alot of em and go with the ones chosen by lottery or whatever.
The way the rules are written today, essentially you have given out-of-state actors multiple bites of the apple whereas the nurseries that are the ones that are prescribed in the bill as being the sole obligants only have one shot at it,” Costa Farms Vice President Peter Freyre told The News Service of Florida in an interview Monday.
http://www.palmbeachpost.com/news/news/state-regional-govt-politics/nursery-challenges-rule-for-implementing-florida-m/nhNGn/