Saturday, October 10, 2015 12:56:21 PM
California acts to regulate pot industry
http://www.usatoday.com/story/news/2015/10/09/calif-acts-regulate-pot-industry/73692950/
"The potentially lucrative industry has been a lightning rod for wealthy investors and has drawn the financial backing of some of tech's best known and wealthiest founders."
Item 8.01 Other Events
(1)
On July 27, 2015, the Company provided an update stating that “A company has been retained to assist in the development of products for the medical marijuana industry. The Company will receive a fee for each can sold for assisting in the development of a non-piston can product.” To clarify the business transaction, the Company has agreed to sell the raw materials and ingredients necessary for making batter. The Company has done extensive research and development on the current batter and is selling it to a 3rd party who will make the product themselves from the raw materials purchased from Nate’s Food. The Company is not involved in making medical marijuana products. The Company is selling raw materials and ingredients necessary for making batter at a profit, but has no other ongoing participation in the sales of any finished product of the start up business.
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