Interesting breakdown on who pays for what in Nevada !!!
I may have missed something in the filings....but it appears this endeavor will cost roughly 11 millions dollars, where TRTC pays roughly 9.75 million...In simple math we pay close to 90% but receive 50%, 55% and at best 60%...
In Medifarm where we get 60%, I dont see any documentation on those two individuals paying anything for their return of 20% each. I will assume they are the landowners...but still 40% seems high..
Medi farm 1 we get 50% and Forever Green gets 50% and in the form of debt gives 500,000
Medi Farm 2 we get 55% and Forever green gets 15% but pays 750,000 and Nevada MF gets 30% but pays ZER0!!!!!!!
Whoever Nevada MF........ they got a sweet deal....unless I missed somthing....
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.
