Tuesday, December 13, 2016 2:52:39 PM
Property Development -- Phase I -- 80% complete: Of the 8,000 sq. ft. initial building, 80% of the rooms have been completed and are now operational, including full buildout, electrical, plumbing, HVAC, and security.
$32,000 per month (minimum)
CO2 Extraction -- Phase I-B: The Company procured two coveted CO2 oil extraction machines and will be leasing this highly sought after equipment to its tenant -- adding to the current revenue stream. County permits are complete and we are awaiting state inspection and approval with Wildfire. The Company expects this phase to be completed by the end of November 2016.
I would estimate that this market, based on the information I have gathered from Wildfire, and other sources, including my own experience, is around $19,000,000 per year for Wildfire. CGRA has signed very lucrative leases with Wildfire, (can anybody guess why?) and this no exception, so my guesstimate is that CGRA will pull a minimum of 5%, or $950,000 per year. Processing is quick, and the demand is deep in Washington State, so another $75,000 per month from this lease is expected beginning March 1st. Wildfire has a good part of its summer crop held back for CO2 processing, and only sold enough flower to cash flow the business operations.
Property Development -- Phase II: Plans are completed for the improvement of an existing 8,000 sq. ft. building south of Phase I building. This building will include primary processing and a full commercial kitchen. Work is scheduled to begin prior to the end of the year.
This will be completed by December 31st 2016 – so add another $32,000 per month beginning Feb. 1st.
Property Development -- Phase III: Plans are being developed for a 22,000 sq. ft. building for extended grow rooms and overall mechanical for the site. The Company is planning on breaking ground on this new building in early 2017.
I can tell you that Rob Foster does not sit idle when something needs to get done, so I expect this building to be done by June 1st, 2017, adding another $88,000 (minimum) per month.
Minimum schedule of lease payments from Wildfire BEGINNING December 2017 - $227,000 per month or $2,724,000 annually.
When does CGRA cross the $100,000 per month lease revenue threshold? I say within 24-months of first announcing this Cannabis initiative, and within 12-months of getting the permitting. Not bad execution. I could not have done it any faster.
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