Blum Holdings Inc (BLMH)

[BriarPatch]

Will Panther Gap Farms deliver again?

”…On May 24, 2017, we announced the launch of a new “Craft Cultivation” model to expand our cultivation capabilities and the signing of our first “Craft Cultivator” in Northern California under the name Panther Gap Farms. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of our proprietary high grade “IVXX” cannabis on an annual basis….

”…During the year ended December 31, 2017, we purchased 2,000 pounds from this cultivator...”

https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm

In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud.

Dp confirms, in the Virtual Investors Conference Call just recently, that trtc has indeed exercised the option to renew both the yearly lease and the yearly operating contract with expert grower and "Craft Cultivator" Panther Gap Farms.

http://www.virtualinvestorconferences.com/agenda-june2018.html

Quote:
________________________________________
"On May 23, 2017, the Company entered into a one-year operating agreement with Panther Gap Farms pursuant to which Panther Gap Farms will grow up to approximately one metric ton of the Company’s IVXX cannabis annually. The operating agreement is renewable, upon mutual agreement between Panther Gap Farms and the Company, for up to three additional terms of one year each. The agreement requires the Company to issue common stock, with a value of $1,150,000, upon execution of the agreement, which the Company issued in August 2017 and held in escrow. In addition to the common stock, the Company is required to issue common stock, with a value of $785,500, for the profit share of the cannabis ultimately sold by the Company upon execution of the agreement. Panther Gap Farms has the right to receive up to $100,000 in cash in lieu of receiving the common stock related to the net profit share. If Panther Gap Farms requests such cash payment, the amount of common stock to be delivered will be reduced by an amount equal to the amount of such cash divided by the lower of the closing price or the 30 day VWAP of common stock on the date of the agreement. The shares to be received by Panther Gap Farms under the profit share agreement are dependent on the ultimate profit recognized by the Company when the cannabis product is sold.

The Company and Panther Gap Farms also entered into a lease agreement pursuant to which the Company leases the property on which the cannabis is grown. The lease agreement requires monthly payments of $30,000 for eight months and is also renewable for up to three additional terms of one year each."
https://ir.terratechcorp.com/all-sec-filings#document-5441-0001477932-18-001325


DP clearly stated either on the Annual or the '18 quarterly how much cannabis was purchased. Has I have stated a few times now, "In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud."

Annual
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm

Quarterly (Q1 2018)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002303/trtc_10q.htm


Prices in california are averaging $296.00 an ounce according to
https://marijuanarates.com/blog/california-marijuana-prices

so 2,000 lbs is 32,000 ounces multiplied by $296. Works out to around $9,472,000.00.

So they spent $2,175,000 and got back $9,472,000 in return, leaving trtc to collect $7,297,000.

I'll take that ALL DAY LONG!!!


Humboldt County - America's Marijuana Capital!

"...The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products...."
(pics on “intro” page)

https://www.terratechcorp.com/news-media/press-releases/detail/190/terra-tech-%20corp-expands-cannabis-cultivation-capabilities

"...Northern California is, hands down, the cannabis capital of the world, and with 20 years of dipping their toes in regulations behind them, the Bay Area and Emerald Triangle are ready for the post-prohibition era..."

https://www.freedomleaf.com/cannabis-innovations-northern-california/

a few other things to note;
* that 2000lbs delivered was in 2017, they could have easily taken another delivery of top notch product since then. After all the 1 year renewable contract started on May 24, 2017. Any additional marijuana delivered from Jan '18 to May 23, '18 would increase that 2,000 lbs accordingly.
* also, IP has a much better grasp on the actual dollar amounts, For instance, The big sticky buds on top are worth more than the smaller branch buds etc...

No matter it was a Great Deal made by DP!
no wonder...

business is blüming!!!