Replies to post #122744 on Blum Holdings Inc (BLMH)

[Art Vandeley]

Do you see anywhere in those press releases that says that IVXX,LLC sold IVXX products directly to those dispensaries? It doesn't say who sold the products to the dispensaries, only that they are available there. Could it not be possible that IVXX, LLC only sells to Blum and Blum in turn resells to other dispensaries?


However, it is possible that myself and several others on the board have indeed misinterpreted this statement to mean that is the total amount of IVXX sold as of 4/1 and only to Blum. We failed to take into consideration the context of which the statement was made, it was made in regards to related party transactions and not as the total amount of IVXX sold and that it was only sold to Blum. The revenue reported could be higher....

Also, I never denied that it was available in multiple dispensaries in Q1, just that based on the initial interpretation of the statement in SEC document that it only mentioned selling to Blum....

Related Party Transactions

Except as described below, during the past two fiscal years, there have been no transactions, whether directly or indirectly, between us and any of our respective officers, directors, beneficial owners of more than 5% of our outstanding Common Stock or their family members, that exceeded the lesser of $120,000 or 1% of the average of our total assets at year end for the last two completed fiscal years.

IVXX recently completed construction of its supercritical Co2 extraction lab. The lab is located in the medical marijuana dispensary of Blum Oakland, a company in which Derek Peterson, our President, Chief Executive Officer, and Chairman of the Board, holds a 12% ownership interest in. IVXX is currently not charged any rent to use the space. Subsequent to the end of fiscal year 2014, some of IVXX’s products are currently being sold at Blum Oakland’s dispensary. As of April 1, 2015, IVXX has sold products to Blum Oakland equal to approximately $285,890.

How come there is no mention of Salwa Ibrahim being an Executive of IVXX, LLC and also owner of Blum?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10623410