Blum Holdings Inc (BLMH)

[Magnum7419]

Here are some examples of what some might think are insiders taking advantage of shareholders IMHO

Several months ago I pointed out the leases for San Leandro and the new cultivation site in Oakland was costing 48,000 a month since Jan 2017 .

Both those entities are not due to open till the end of this year which means over 500,000 will have been paid in rent by shareholders for no return. It will be interesting to learn who is paying the construction costs of both buildings?

see page 26
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11969565

Today I learned after reading a proxy filing that Martin Kaufman and his wife apparently are the owners. When I researched BlumOak I learned they are also the owners of that building and purchased same two weeks for merger ended. Martin Kaufman also owns the security company that protects BlumOak for 35,000 a month and has been hired to protect BlumSl. IMHO

Proxy also shows 6 million dollars paid to VV family for flowers during 2016.....then the contract with NP Plants was terminated.....(FYI) NB plants was over 70% of the sole revenue generated by EDible gardens. IMHO

"On May 7, 2013, Edible Garden entered into a letter agreement with NB Plants related to Edible Garden’s right to purchase and distribute a majority of NB Plants’ plant products. During 2016 Edible Garden purchased $6,820,724 of plants from NB Plants. The Company terminated this agreement on December 31, 2016. NB Plants is owned by the parents of our director, Kenneth Vande Vrede. Edible Garden receives a valuable strategic partnership through this letter agreement"

"The Company is a party to the following transactions with Martin Kaufman and Salwa Ibrahim, each of whom beneficially owns more than 5% of our outstanding Common Stock. An entity owned 100% by Mr. Kaufman and Mr. Ibrahim owns the property where the Company’s Blum Oakland facility is located. That entity leases the property to an unaffiliated third party for $16,000 per month. The Company subleases the property from the third party for $28,840 per month. The Company pays $24,000 per month in rent for the property where its Oakland, California cultivation facility is located to an entity owned 50% by Mr. Kaufman and Ms. Ibrahim . The Company pays $24,000 per month in rent for the property where its San Leandro, California dispensary and production facility is located to an entity owned 50% by Mr. Kaufman and Ms. Ibrahim. The Company pays approximately $35,000 per month to an entity owned 50% by Mr. Kaufman to provide security at the property where its Blum Oakland facility is located. During the twelve months ended December 31, 2016, the Company purchased $76,638 in products from an entity owned 9% by Mr. Kaufman".



http://ih.advfn.com/p.php?pid=nmona&article=75337470 see page 12.

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