Indoor Harvest Corp (INQD)

[elbiatcho1]

It sounds more like double-dipping.

With the MJ Texas deal failing they're falling back to becoming private, but still have their hands in the MJ business and now get to charge "their own company".

So INQD will become an empty shell? Or whatever unheard of "Cyribelam Pharmaceuticals, Inc.".

The Harvest Group will provide engineering and construction services to Alamo CBD and/or Indoor Harvest Corp for the Controlled Environment Agriculture facility at cost plus 2.5% for the construction of the Wilson County Cannabis Facility or alternate facility location using its core deployment partners; DAC Studios, Axxis Building Systems and Harvest Air, along with The Harvest Group designated component suppliers. After construction of the Wilson County Cannabis Facility is completed and the facility has been fully commissioned and turned over, Indoor Harvest Corp will have the option to sub-lease the Houston facility to The Harvest Group, or to terminate the lease.

Apparently the "ownership" of the tech stays with the public entity and is licensed to IHC.

Not sure what happens to the tech after closing date, vague...

Following the Closing Date, Indoor Harvest Corp will undertake a name change to Cyribelam Pharmaceuticals, Inc., or such other new name as may be determined by Alamo CBD. Except as may otherwise be provided, Indoor Harvest shall continue to own all intellectual property, as well as all other assets owned by Indoor Harvest prior to Closing, including the Houston, Texas warehouse lease (the “Houston Facility”). The Houston Facility will serve as a staging/warehousing and assembly area for equipment and construction of the planned indoor Cannabis production facility to be constructed in Wilson County, Texas (the “Wilson County Cannabis Facility”).