I just went through all the 8k’s and all I could find on their licenses for square footage is they have licenses to plant up to a total of 15,000 square feet from part of the 8k filed below on January 22, 2018. Where did you get the 5000 square feet number and can you provide a link.
Q2. What is the total square footage the Company can plant now under the licenses?
Q2. The Company can plant up to a total of 15,000 square feet. The current greenhouse is 20,000 square feet. The county charges its tax of $15 per square foot (annual) based on total canopy size of the license. The Company is planting its grow bays under a staggered system. This means the grow bays are harvested one after the other. So after a bay gets harvested it is cleaned and prepared for next plating, which takes about 7-14 days. The harvest team would be harvesting the next bay as the previous bay is cleaned. Once the 2nd bay is harvested it can be cleaned and prepared for harvest while the 1st bay is being planted and the 3rd bay is being harvested. This creates a rolling effect in the bays where we are in a constant plant and harvest cycle. As such, the company determined at any one moment in time the 20,000 square foot greenhouse would have approximately 15,000 square feet of canopy space based on the staggered harvest system. Based on this determination, the Company didn’t see the need to pay tax on the extra 5,000 square feet that would be in constant state of cleaning and prep.
Once the Company has completed its retro fit, we would expect to file for 3-4 5,000-10,000 square foot licenses for a total of 15,000-40,000 of grow space to accommodate the possible racking system.
