Bright Green Corp (BGXX)

[Bullish Green]

Apparently this is a very hard license to get. Per the doj.gov website, only 7 companies hold this license as listed on DOJ website.
https://www.deadiversion.usdoj.gov/drugreg/marihuana.htm#:~:text=You%20may%20apply%20for%20a,Registration%20(usdoj.gov).

List of the DEA approved Bulk Manufacturer Marihuana Growers:
Biopharmaceutical Research Company LLC

Groff NA Hemplex LLC

Irvine Labs, Inc.

Maridose, LLC

National Center for Development of Natural Products

Royal Emerald Pharmaceuticals Research and Develop

Scottsdale Research Institute

The website is very clear on the process. A few points stand out as to the timeframe we can expect $BGXX to actually make any money. The biggest hurdle is actually aquiring the license. Who knows how long that may take. Again, who knows how long that will be. After this unknown variable, then the process starts.

A. Bona Fide Supply Agreement and Quota
As stated in the sample memorandum of agreement (MOA), on or before May 1 of the year preceding the year in which marihuana is to be grown, the grower1 will furnish an individual manufacturing quota (IMQ) application utilizing DEA Form 189. (Numbers correspond with the diagram below.)

Grower enters into bona fide supply agreement(s) with buyer(s).2
Grower will include in their IMQ application copies of documents that constitute the bona fide supply agreement(s) (BFSA) that justifies their quota application request. For purposes of calculating Grower’s IMQ, DEA will only consider BFSA from existing DEA registrants.
Upon receipt of quota, the grower may grow marihuana within the terms and conditions of the quota and memorandum of agreement.3

B. Advance Notification and Invoicing
In accordance with the MOA, the grower will provide DEA with a 15-day advance written notification of its intent to harvest marihuana, including the date/time in which harvesting will begin.

When the grower provides this notification, the grower will invoice4 DEA for the harvested marihuana it intends to sell to DEA.
Additionally, the buyer is expected to submit an order form (DEA Form 222), expressing all quantities in kilograms, to DEA for the purchase of marihuana to be harvested.
DEA, in turn, will invoice5 the buyer identified in the grower’s invoice. The buyer’s order form number will be referenced in DEA’s invoice to the buyer; therefore, the order form must be received by DEA before DEA can invoice the buyer.
Upon receipt of payment, DEA will authorize the grower to ship.

C. Harvest and Transfer of Ownership
DEA personnel will arrive at the grower’s registered location to take physical possession of the crop. While DEA will make every effort to arrive on the day of harvest, DEA will take possession within four months of the harvest.6

DEA will take ownership of the crop by executing a DEA Form 222. Grower may need to store marihuana in a pre-approved secure location on behalf of DEA.
DEA will authorize the grower to make distributions from DEA’s stocks of marihuana to those buyers who entered into BFSAs with the grower once DEA has confirmed that the buyer has made payment to DEA for both the negotiated rate and the administrative fee. The grower shall bear the cost of shipping marihuana to the buyer.7
DEA will pay the grower within 30 days of taking ownership of the crop.

So They must get a license. Submit a year prior to growing. Actually grow the crop. Submit 15 days before the harvest. Harvest. Give DEA control of the harvest (up to 4 months). 30 days later to get paid.

So in reality, it'll be at least 2 years before they ever turn a dime AFTER they get the license.

Just a side note:
I have a theory that they may try to use the Alterola Biotech subsidiary to attain DEA approved buyer staus "in house" for research. What that may accomplish, or how they will accomplish that, who knows but it is something to consider.

IMO they will be burning through cash for a while. I expect an AS increase in the meantime. I'll wait for a lower entry.