Blum Holdings Inc (BLMH)

[IndustryParticipant]

NJ cultivation and application process

I have seen addressed today as well as before the assumption of just hundreds of people applying.

Obviously, anyone making these statements have no experience whatsoever with a competitive scored state application process.

Each and every state process is different, and the most recent, being California by no means represents the above process in any way, shape or form.

Highly competitive state scored application processes can easily run into applications of literally thousands of pages, and depending on the specifics hundreds of thousands or more in total outlay to accomplish a top scoring (winning) application which is the result of input of sometimes dozens of parties/sources. (Legal, accounting, engineering, local, county, state, etc).

Bottom line: The more competitive the process and the lower the number of fixed licenses, the less applicants there are.

I saw someone mention not too long ago how they (allegedly) secured a special use/conditional use for a property. Such is worth nothing and in many cases literally 1% of an application. (Our largest ever prepared was 20,000+ pages). For those attempting to envision such, that is 40 reams of paper (or 8 cases). You need a dolly to actually wheel and deliver the app.

No. It is not "there's x number of farms and everyone will". Never has been , never will be.

Granted, in every process you have those who will pursue and present incomplete applications by the dozens but a submission of an incomplete and inadequate application means nothing. All it does is clog up the system and process and those responsible for oversight tend to then dismiss with prejudice.

Given their experience(s) thus far with the above, which would be greater than the majority of applicants, coupled with the groundwork done in New Jersey (political) I would not question their ability to secure any and all licenses they seek and as previous, as well as from call, it seems they are indeed utilizing the appropriate approach. (Secure additional medical which then positions for adult use, etc)