They were sharing it with at least one other company, maybe more. Recently the other tenant moved out so they’ll be adding more October 1st. It’s been difficult figuring out what they control, and what they don’t, as far as lease space. I looked into the title and iirc it’s owned by an husband and wife that ran a nursery there before leasing it to growers. The June S-1/A has the lease agreement, below is some of it, as you’ll see SIGO is subleasing it from someone else, there is also a diagram of the separate leasable areas and on the tour they alluded to a nearby site that could accommodate 750k sq feet, but for now they’re around 12-14k sq feet iirc, they keep adding more space so it could be closer to 22k sq feet. They at least appear to be growing weed but, some people pointed out that they should have assets on the 10Q for the period ending July 31 though. According to another poster who owns shares, Valerie sent him an email saying they are leasing the equipment, which to me is strange, they’ve raised alot of money over the last year and the equipment isn’t theirs, why?
Below is from the lease on the S-1/A. Battle Mountain Genetics was the company SIGO R/M into and appears to have been created by Wade for just this purpose.
THIS LAND LEASE AGREEMENT (“Lease”) is entered into and is made effective as of March 1, 2017 (“Effective Date”) by and between Lighthouse Botanicals Cooperative and J.R. Richardson, on the one hand (collectively “Landlord”), whose mailing address is: 20420 Spence Road, Salinas, California, and Battle Mountain Genetics, whose mailing address is 555 N El Camino Real #A418, San Clemente, CA 92672 (collectively “Tenant”), who for the consideration of their mutual promises herein agree as follows:
I’ll answer your first questions last, The Bud:
"From August 1, 2017 through August 7, 2017, the Company generated approximately $140,400 from 117 pounds harvested."
So just $1200 per pound, or $75 per ounce, which means the quality is not the best, it should be double that.For the entire month they made less than $200k, better than most otc’s, of course. But the weed sucks, they released lab tests a few weeks ago, the thc numbers were pretty good, but they had too much mold, so much that you wouldn’t be able to sell it in Colorado or Washington. Will it be successful or will Wade siphon off all the profits? Tough to say right now, it could be the most legit business Wade has run if he doesn’t get too greedy. We won’t know most of the details till the next 10Q and the fiscal year won’t end till October 31.
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