SUTI Inc., Current Information Disclosure, and a form 8K filing.
Source: InvestorsHub NewsWire
SUTI Inc., Current Information Disclosure, and a form 8K filing.
DALLAS, TX -- July 10th, 2015 -- InvestorsHub NewsWire -- SutimCo International Inc. (OTC PK: SUTI) ("The Company")
The company has completed the funding for the strategic partners in Oregon, Canna and the City. The 8K filing is attached.
"At this time I would like to thank Scot and Lori Albert for the opportunity given to Sutimco to invest in Canna and the City. I believe that their vast knowledge in the cannabis industry will make Canna and the City a premiere medicinal and recreational marijuana company in the Northwest United States region. This is our first completed milestone in our long journey of becoming the leader in venture capital for this explosive industry. I am confident that Sutimco will accomplish this goal by investing back into the company and strengthening our future interests by partnering with such affiliates in the cannabis market. This will ultimately give Sutimco more purchasing power which will provide the best value for our shareholders." Stated Jorge Luis Saenz, CEO of Sutimco International Inc.
About Sutimco Inc.
Sutimco Inc., is a development corporation with a focus and design to enter a new and emerging Medicinal and Recreational use Marijuana and Cannabis market sectors. The company is developing rela tionships and contracts with product and service providers that cover all aspects of this new and emerging market sector.
Forward-Looking Statements: The information posted in this release may contain f orward-looking statements within the meaning of the Private Securities Litigation Re form Act of 1995. You can identify these statements by use of the words "may," "wil l," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend
," and similar expressions. Forward-looking statements involve risks and uncertaintie s that could cause actual results to differ materially from those projected or anticipa ted. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional confli cts, competition, changes in technology and methods of marketing, delays in compl eting various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays d ue to performance quality issues with outsourced components, and various other fa ctors beyond the Company's control.
This release includes forward-looking statements within the meaning of Sec tion 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange A ct of 1934. Certain statements set forth in this press release constitute "forward-loo king statements. Forward-looking statements include, without limitation, any stateme nt that may predict, forecast, indicate, or imply future results, performance or achievem ents, and
may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan ", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or wo rds or expressions of similar meaning. Such statements are not guarantees of future p erformance and are subject to risks and uncertainties that could cause the company'
actual results and financial position to differ materially from those included within t he forward-looking statements. Forward-looking statements involve risks and uncertain ties, including those relating to the Company's ability to grow its business. Actual result s may differ materially from the results predicted and reported results should not be co nsidered as an indication of future performance. The potential risks and uncertaintie s include, among others, the Company's limited operating history, the limited financia l resources, and domestic or global economic conditions -- activities of competitors an d the presence of new or additional competition and conditions of equity markets.
CURRENT INFORMATION DISCLOSURE
SUTIMCO INTERNATIONAL CO.
For the period ending June 28, 2015
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): July 10th, 2015
SUTIMCO INTERNATIONAL INC
(Exact Name of Company as Specified in its Charter)
1712 Pioneer Avenue, suite 5849A Cheyenne, Wyoming 82001
(Address of Principal Executive Offices) (Zip Code)
Companys telephone number, including area code 206-337-8572:
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:
[ ]Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Safe harbor statement concerning forward looking statement
This current information disclosure contains certain forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the U.S. Securities and Exchange Commission in its rules, regulations and releases) representing our expectations or beliefs regarding our company. These forward-looking statements include, but are not limited to, statements concerning our operations, economic performance, financial condition, and prospects and opportunities. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as may, will, expect, believe, anticipate, intend, could, estimate, might, or continue or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements, by their nature, involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors, including factors discussed in this and other of our disclosures on OTC Markets. with the U.S. Securities and Exchange Commission.
Consummation of a definitive material agreement
On June 28, 2015, we entered into and consummated an agreement to purchase two(2%) of the outstanding shares of Canna and the city, a medical marijuana dispensary in Portland Oregon. Canna and The City is an upscale, turnkey, ready-for-business Medical Marijuana (MMJ) dispensary located in the highly affluent Johns Landing area of Southwest Portland, Oregon. Canna and the City is center stage inside Portlands healthcare intellectual hub, surrounded within one-half mile by Oregon Health & Science University Hospital (OHSU), Shriners Hospital for Children, OHSU Doernbecher Childrens Hospital, Portland VA Medical Center, OHSU Casey Eye Institute, OHSU Center for Health and Healing and over 200 medical offices and healthcare related businesses.
We believe this to be truly a unique opportunity to be the cannabis hub in the City of Roses healthcare wheel for patients needing the tremendous benefits medical marijuana products provide. There are no other MMJ dispensaries within a five-mile radius, so Canna and the City is the premier canna-health dispensary in SW Portland. Canna and the City (CATC) is uniquely positioned and physically structured to double in size by potentially having a Recreational Marijuana (RMJ) side to the existing business. While a recreational marijuana license will be required, we believe that we will not have a problem acquiring such a license
Canna and The City occupies about half of a 2,348 square foot portion of a much larger 13K square foot building and as mentioned previously, is staged to build-out a recreational marijuana dispensary within the same leased space2, or set up a vape-lounge, education and learning center or cannabis-cafe. The portion of the building that is leased under contract for CATC is divided into two separate spaces with two separate entrances (though also having a connected door in the back office area). The building also has a large warehouse area (not under contract) with large door access under the building. The warehouse could easily serve as a place for producing extracts, edibles and storing all kinds of cannabis related products to further expand the business even more.
Canna and The City opened its doors in June 2015 and was prepared to welcome the estimated 17,900 medical card holders that live within Portland, the core healthcare hub and pass through this area every day to utilize the services provided by Oregons finest medical professionals. The current business plan forecasts Year One revenue to be between the range of $2.35M to $3.1M with a midpoint of $2.75M and estimated daily sales to average $8,7853.
Sutimco International Inc. is proud to announce that they have entered into a definitive partnership agreement with Canna and the City, a medical marijuana dispensary located in Portland, Or. Under the terms of this agreement, Sutimco shareholders will own a 2% stake of Canna and the City and become a silent partner. Canna and the City will receive cash as the method of payment. In return for investment, the company will receive 2% of the net profit of the medical marijuana dispensary and net profit from Canna's future marijuana recreational store. Included in the agreement, Canna and the City will give Sutimco the right of first refusal to purchase up to 25% of their company in addition to first opportunities to invest in any future projects. Both companies believe that the sales of medicinal and recreational marijuana will create revenue for an attractive return of investment for Sutimco shareholders.
(B: explanation of revenue)
The Average annual sales per each Medical marijuana dispensary in Oregon $2 Million
Both Scot and Lori are projecting a combined $5 Million in sales conservatively for both patient and recreation users in just the first year alone with doubling in 2017.
(C: explanation of revenue projections model)
These are the projections based off Portlands medical marijuana dispensaries model..... Heres the breakdown.. 5,000 day income x an average 30 day month equals 150,000 a month....150,000 a month x 12 equals $ 1,800,000 gross before expenses. THIS IS FOR MEDICAL ONLY.
RECREATIONAL PROJECTIONS STARTING 10/2015
This follows the Washington state recreational dispensary projection model.....10,000 day revenue x an average month of 30 days equals 300,000 a month revenue... 300,000 a month revenue x a 12 month year equals $3,600,000 a gross yearly income before expenses