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$GMEV Foundation Farms, Corp., Announces Equipment Purchase of 450 Vertical Towers in British Columbia
Foundation Farms, Corp., (the "Company" or "Foundation Farms") a subsidiary of GME Innotainment, Inc. (OTC PINK:GMEV) today announced that the company has issued the equipment purchase order for a 450 tower vertical farm to be located in Abbotsford, British Columbia. Early details of the project were disclosed in a previous news release in July and management is pleased to report that a new business plan, prepared by an independent third party, confirms previous profit projections. Gross margin is expected to be $445,000 per year or 98% of sales. The joint venture is expected to generate a net profit of $113,000 per year or 25% of sales and payback on capital is expected to be achieved within the first two years of operation. These numbers are based on the actual long-term experience of the Company's technology suppliers with further confirmation from the Company's own experience over the past four months with its first Red Deer area vertical farm. https://finance.yahoo.com/news/foundation-farms-corp-announces-equipment-111500023.html