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The last sentence of "Use of Proceeds" hopefully will not occur...I cant understand why they need five years of operation funding in such a lucrative market?
We used $226,840 of the proceeds received in the Debt Placement to repay an affiliate of Dominion for an outstanding loan. We have used and intend to use the remaining proceeds from the Debt Placement and from the exercise of the Warrants to execute our growth strategy, to aid in the commercial development of GrowOp Technology, Edible Garden, MediFarm, MediFarm I, and MediFarm II, and for general corporate purposes.
We have used a portion of the proceeds received in the Debt Placement for the permitting process and professional fees, including architects, engineers, attorneys, and lobbyists with respect to MediFarm, MediFarm I, and MediFarm II. Assuming MediFarm, MediFarm I, and MediFarm II receive all the necessary permits and licenses applied for, we anticipate we will need approximately $11 million for the commercial development of these subsidiaries. With respect to MediFarm, the estimated construction budget (for year one) and operation budget (for the first five years of operation) is approximately $500,000 for the dispensary facilities and approximately $5 million for the cultivation and production facility. With respect to MediFarm I’s dispensary facility, the estimated construction budget (for year one) and operation budget (for the first five years of operation) is approximately $500,000. With respect to MediFarm II’s cultivation and production facility, the estimated construction budget (for year one) and operation budget (for the first five years of operation) is approximately $5 million. Forever Green NV, LLC, a member of both MediFarm I and MediFarm II, has agreed to contribute approximately $500,000 in the form of debt to MediFarm I and approximately $750,000 in the form of debt to MediFarm II. We will be obligated to contribute the remaining amount, or approximately $9.75 million in the aggregate, for all three subsidiaries.
With respect to GrowOp Technology, we anticipate needing approximately $110,000 for the commercial development of this subsidiary, which includes anticipated expenses for purchasing, marketing and selling of a new line of double ended lighting.
With respect to Edible Garden, we used approximately $700,000 of the proceeds received in the Debt Placement to purchase high tech Dutch movable hydroponic tables that we anticipate will reduce labor and increase productivity. We anticipate requiring an additional $50,000 to assemble and install these tables.
We intend to raise additional capital through equity and debt financing as needed, though there cannot be any assurance that such funds will be available to us on acceptable terms, on an acceptable schedule, or at all.
Anyone have an idea how much this is going to cost us each month starting August 5th ??
Each Note accrues interest at a rate of 12% per annum and has a maturity date of 18 months after issuance. All principal and interest due and owing under each Note is convertible into shares of Common Stock of the Company at any time at the election of the holder thereof, at a conversion price equal to approximately $0.30753 per share, subject to adjustment. Beginning on August 5, 2014, and continuing on each of the following eleven successive months thereafter, the Company is obligated to pay 1/12 th of the face amount of the Notes outstanding and accrued interest.
The Notes are currently convertible into a total of 20,654,103 shares of Common Stock, which may increase in the future if the conversion price is adjusted upon our sale of equity at a price less than the then-conversion price. Pursuant to the Amendment, we agreed to reserve an aggregate of 41,308,206 shares of Common Stock for conversion of the Notes upon such adjustment, all of which are registered hereby.
Does this mean we only get 55% return on our investment in Washoe County?
We formed MediFarm II on July 30, 2014. We own 5 5 % of the membership interests in MediFarm II. The remaining membership interests are owned by Nevada MF, LLC (30%) and by Forever Green NV, LLC (15%), two otherwise unaffiliated parties. Upon receipt of the necessary governmental approval and permitting, we expect MediFarm II to operate a medical marijuana cultivation and production facility in Spanish Springs, Nevada.
Does this mean we only get 50% from the Reno dispensary?
We formed MediFarm I on July 18, 2014. We own 50% of the membership interests in MediFarm I. T he remaining membership interests are owned by Forever Green NV, LLC (50%), an otherwise unaffiliated entity. Upon receipt of the necessary governmental approvals and permitting, we expect MediFarm I to operate a medical marijuana dispensary in Reno, Nevada
I see in the latest filing what does 60% of the membership mean as it relates to the Dispensary in Clark County, the Dispensary in the City of Las Vegas and the Cultivation,Production site in Clark County.
Link: We formed MediFarm on March 19, 2014. We own 60% of the membership interests in MediFarm . The remaining membership interests are owned by Camden Goorjian (20%) and by Richard Vonfeldt (20%), two otherwise unaffiliated individuals. Upon receipt of the necessary governmental approvals and permitting, we expect MediFarm to operate medical marijuana cultivation, production and dispensary facilities in Clark County, Nevada and a medical marijuana dispensary facility in the City of Las Vegas.
I thought they were going to touch the Plant Sept 1st ????
I researched the issue and found that State of California had a house bill 1262 that some said if passed would allow non profits to become profit....but in the last week of August the bill was KILLED.
It appears California will remain Non Profit for at least another year or two....... Maybe it would be wise to move that extraction lab to a different state so to maximize their return on it...
Hopefully we will hear why there has been a delay in the near future..
The latest filing shows operational funding for FIVE years. Why would they need funding for five years if they are to be so profitable?
How does it become profitable in a NON Profit State of California?
California Medical Marijuana Regulation Bill Dies In Committee
In a little noticed but significant provision, SB1262 would also permit the nearly $2 billion medical marijuana industry to turn a profit. As the East Bay Express reported, current guidelines, crafted in 2008, required medical pot collectives to “operate as ‘not-for-profit’ enterprises.” The rule has become a legal sticking point in recent years as arrests, raids and prison sentences have depended on charges of “profit-making.” - See more at: http://calwatchdog.com/2014/08/21/new-ca-pot-bill-snuffed-out/#sthash.xftZJBmk.dpuf
California Bill 1262 defeated last month
This bill would have allowed non pro fit dispensaries to become profit....aka BlumOak...but now it will be a couple of years before it comes back up...... I believe this will cause the delay in the extraction lab in oakland Ca..... thus no touching of the plant..
http://www.theweedblog.com/california-medical-marijuana-regulation-bill-dies-in-committee/
And in Michigan, the state’s governor recently signed a bill that would allow pharmacies to sell medical cannabis – if the federal government ever recognizes marijuana as a drug with health benefits.
http://mmjbusinessdaily.com/pharmacists-increasingly-seeking-piece-of-mmj-pie/
Council: Berkeley Dispensaries Must Provide Free Cannabis
http://mmjbusinessdaily.com/berkeley-dispensaries-must-provide-free-cannabis-under-new-rule/
This Prospectus may also be used by transferees of the Selling Stockholder, including broker-dealers or other transferees who borrow or purchase the shares to settle or close out short sales.
See S 1 for verification: section 25 Plan of Distribution paragraph two.......
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10141233
No problem....... they are NON PROFIT.....so they are selling at a price to cover expenses only....... per California law...
Everyone has a reason, mine is not money, but I did choose to buy Medical Marijuana stocks after I saw what it did for children with seizures and its potential in cancer research...then add the crisis of contamination in our food sources and seeing how they produce veggies via water without pesticides....I feel is a worthy cause and will make a nice return on a dollar....
That statement says it all.... my friend.....sad
LOL.... I thought i was very clear about the next big thing and its not Marijuana....its Edible gardens.... selling live plants to consumers.....Just take a look at Del MOnte for a second.....Your interested in selling 15000 people marijuana and I want to sell 15 million people a 2.00 live basil plant, 1.00 head of lettuce and some strawberries for 5.00...
I will just wait and hope they spin off the Marijuana side of TRTC....
Good Luck to your dream....
excellent research..... ONce again cultivation and production has my 100% approval...but running a dispensary will be an alligator eating profits away.....You have to be conservative on revenue projections and add 15% to expendures if you want to succeed.... If medical Marijuana wants to work it will have to be economical for patients and 1000 a month is to expensive...thus comes laws where insurance companies will pick up some of the costs(OBama Care) and allow doctors to write Rx and every CVS and or Walgreens will then sell it in their store, probably in a refrigerated vending machine behind the counter....
Nearly 60% of dispensary owners who responded to a recent industry survey said they take in $500,000 or less in annual revenues
http://mmjbusinessdaily.com/from-less-than-100k-to-millions-of-dollars-annual-marijuana-dispensary-revenues-run-the-gamut/
I suggest you be realistic on revenues....
18,000,000 in yearly revenue for one dispensary in Clark County means that one store needs 15000 patients to spend 1,000 a month to gross 18 million...
There is only 5000 MM card holders in the whole state....
Buts lets say 15,000 patients do spend 1,000 a month and the dispensary takes in 18 million...
DP says it will cost 35% of gross in expenses... thats 6.3 million
Now we have 11.7 million but remember this 800 POUND Gorilla....there is two investors that get app 40 to 60% of Profit.
So cut that 11.7 in half....
So under ideal circumtances revenue is 5.8 million...
Bottom line :Basil and Tomatoes will make more money than Marijuana...
Nevada wants ONe Dispensary for every 10 pharmacies.
What would happen to profits if then they allowed pharmacies to offer medical marijuana...
Read this link : it proves my point that the margins in dispensaries will be small......
http://mmjbusinessdaily.com/pharmacists-increasingly-seeking-piece-of-mmj-pie/
easy to say that since u got in .07 cents a share..... If you wait 20 days I think u can get back in at .06....
Thats the beauty of penny stocks...there is always a new wave of I am going to get rich quick......
Interactive brokers has 200,000 shares available to short !!!!
You all should be ashamed of each other talking about greed and fear at a time when the US was under attack...Show respect and hush till 11 am...... 9/11 I will never forget.........
BAsed on everything I have read....... I will still say Edible Gardens will generate better margins long term than Marijuana sales. I am looking forward to strawberry sales in October....
Thanks I am just trying to be realistic...... and Whatever the numbers are.....TRTC will only receive approximately 50% return as we DO NOT have 100% ownership of Nevada business operation
MEDICAL MARIJUANA AS A BUSINESS – HOW MUCH TO OPEN A DISPENSARY?
http://azmarijuana.com/caregivers/medical-marijuana-as-a-business-%E2%80%93-how-much-to-open-a-dispensary/
Recreational pot is bringing in two-thirds LESS tax revenue than the governor predicted
http://www.dailymail.co.uk/news/article-2742181/Up-smoke-Recreational-pot-bringing-two-thirds-tax-revenue-expected.html
Nearly 60% of dispensary owners who responded to a recent industry survey said they take in $500,000 or less in annual revenues.
http://mmjbusinessdaily.com/from-less-than-100k-to-millions-of-dollars-annual-marijuana-dispensary-revenues-run-the-gamut/
You are suggesting that the majority of winter skiers are healthy enought to ski but ill enough to need Medical Marijuana...ok
Well DP said it takes 35% of profit to run the business in Nevada so reduce the 18 million to roughly 11 milllion...then of course dont forget TRTC only owns 50% of the business....as stated in the S 1 there are two unknown people that own 40-60%......
So now after first year we clear 5.8 million roughly.....
Does that sound about right ?
So if a patient buys 1,000 dollars worth of medicine a month , thats 12,000...a year..... so it will take 15,000 patients spending 1,000 a month to generate 18,000,000..... so....the entire state of Nevada has only 5000 patients....and our dispensary will need 15000 patients..that means the 17 other dispensaries will need 15000 patients...wow...Las Vegas only needs 270,000 patients each spending 1,000 a month for all dispensaries to generate 18 million....but dont forget i think there maybe some expenses involved...
Could u break down how many patients it will take to generate that 18-25 million..
You and MH are the only ones that can predict the future of TRTC...do u see it going all the way to zero? Where does it stop, where does it turn around... what will be the new 52 week high...thanks in advance..
So you are saying all 18 dispensaries are going to generate 18 -25 million dollars annually...... could u break that down on how much a patient spends a year....The entire state of Nevada has 5000 card carrying patients now.... how many more need to be added...to make your numbers work...
If Insiders aren't buying at these levels why should the general public...Sorry folks but support levels have been broken and unless insiders step up to the plate and buy here....well we are toast.
Where are your facts... They paid .30 a share....its under that now....by next week Dominion will be the largest Bagholder..
Looks like the negative posters win again..... heading to .25 tomorrow....and then we become a teenager.....might even end up in middle school.....
If they paid .30 a share and we drop to .15 I would think Dominion would loose millions..
Wow broke .30 now Domminion is losing money....It appears the fat lady has taken center stage..
As long as there is decent volume and posters advising the the stock price will fall in the future..... means there is value in the stock and buying on dips is a valid move....
Like I said before there is only 25 posters here versus 25000 shareholders....so whatever is said here is meaningless and a direct loss of quality of life...