dmcc some questions to add to your list for tomorrow.
1. Is EG buying and selling flowers at this time? a. If not, ask why there are flowers growing in TRTC's greenhouse. b. If so, ask where they can be purchased.
2. what is the breakdown of ownership of medifarm LLC, specifically what was the meaning of the 100% ownership being reduced statement made during county hearing? Which entity are they referring to as owned now 60% publicly. (see vid at 16:20)
3. why was the commission told that TRTC trades on the QX? (video at 14:50)
a. If not, then why did TRTC pay to build a greenhouse? b. If so, what are they growing? what % of revs came from company grown products?
6. Has the agreement with palm creek been extended? Is the original 1 year agreement over? What is/was the end date?
On May 25, 2013 Edible Garden entered into a letter agreement with Palm Creek Produce , Inc. (“Palm Creek”), a Florida- based hydroponic greenhouse grower of specialty plants. Palm Creeks’ 1.25-acre facility is capable of producing up to 10,000 units of produce per week. Under the letter agreement, Edible Garden has the right to purchase and distribute a majority of Palm Creek’s plant products from Palm Creek for marketing, sale and distribution. Under the agreement, Edible Garden will receive a sales commission of 15% of the selling price of plants sold. The term of the agreement is one year. The Company recently loaned Palm Creek approximately $16,000 to upgrade the facility. The first crop was affected by mold and had to be discarded after cleaning the system. The Company planted a second harvest, which was harvested mid-October. The Company purchased all material from the farm. Palm Creek is currently seeding for Butter Head lettuce, with an anticipated harvest of January 15, 2014. "
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