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391657103 GREATER CANNABIS COM 288,795
UNGS has many other Subsidiary's also:
US Natural Gas Corp KY ("KY"), a wholly owned subsidiary, concentrates on oil producing activities mainly in the counties of Green, Hart, Adair, Russell, Edmonson, and Monroe in Kentucky where the Company has approximately 4600 acres under lease. On average, KY maintains a 95% working interest and 83% net revenue interest in each well. To date, KY has 19 wells under bond of which 9 are currently producing commercially viable crude with minimal revenue.
During the fourth quarter of 2016, the Company began the pre-development phase of the build out of the GCC Superstore. The GCC Superstore is an online store built on the Magento platform. Visitors are able to order pipes, vape products, CBD products and other hemp and cannabis related paraphernalia by selecting the products they would like to order, entering their shipping and billing information and confirming the order. The GCC Superstore is part of the Company’s primary business plan. The Company intends on aggressively expanding its product line over the next two quarters. As a drop ship business model, the Company is not required to acquire excessive inventory.
The Greater Cannabis Company, Inc.’s business model is designed to scale as marijuana legalization continues to spread. Every state that legalizes the medicinal or adult-use of cannabis expands the number of licensed businesses in the industry, increasing our potential customer base and potential revenues.
None during 2016.
The Company reacquired 586,799,722 shares of its issued and outstanding common stock which were returned to the Company's transfer agent to be retired during the calendar year ended December 31, 2015.
On February 22, 2016, the Company engaged Pacific Stock Transfer to act in the capacity as its Transfer Agent.
In March 2016, the Company opened a new division focusing on the purchase of new and used oilfield equipment. The Company's new division will look to purchase new and used oilfield equipment from those Operators and Supply shops either going out of business or looking to move supply at distressed prices. The Company will focus on the states of Kentucky, Tennessee and West Virginia for the near term. Through an agreement with a financing entity, the Company will be allotted capital to purchase and store or purchase and flip the acquired equipment.
