You seem well informed on these very confusing issues. Can a Colorado entity (Sunset) secure whatever licensing is necessary to sell MJ in California?
Or will SIGO hold any licenses in the name of their wholly owned subsidiary, Battle Mountain Genetics, Inc., a California corporation?
A few notes:
The lease provided as an exhibit to the company's SEC filing is made with "BATTLE MOUNTAIN GENETICS", which isn't described as a corporation, an LLC or as any specific organizational structure. There is a Battle Mountain Genetics registered as a corporation in CA that filed a Statement of Information on November 30th identifying Valerie (also spelled Vallerie) Baugher as its sole Officer and 20420 Spence Rd Salinas, CA 93908 as its address.
(The original filing address for the Corp...3727 Virden Ave, Oakland, CA 94619...was used as the contact address for the www.battlemountaingenetics.com website. It's a single family home address and TJ was and is the contact for the website and its registrant).
The lease also says "As described herein, Tenant, at its sole election, shall be permitted to sublease to one party only, namely to the California cannabis collective operating as VBF Brands, Inc., for as long as Tenant may be required to do so to comply with County or State law, or as Tenant may, by its own determination, consider it to be legally prudent to do so."
Nothing that I've seen says that such a sublease has been executed or is in existence and there's no indication that SIGO has an ownership interest in VBF, but the lease statement seems to suggest that VBF might be the licensee. Do you know anything about that or is there anything at the link that you provided that answers the question? I couldn't find an answer.
The company's latest 8-K filing says:
"On October 30, 2017, the Company met with its attorney regarding its state licensing application for the new 2018 regulatory structure in California. The Company will be filing for two 10,000 square foot cultivation licenses for a total of 20,000 square feet of cultivation space within the current greenhouse. Further licenses will be applied for on an as needed basis." (Your link says "Microbusiness: Allows a licensee to engage in cultivation (on an area less than 10,000 square feet)" and I wonder if that explains the need for two separate licenses as described.)
and
"On October 26, 2017, Valerie Baugher transferred her 920,000 shares of Series A Preferred Stock to BMG Group, LLC. Ms Baugher is the managing member of BMG Group, LLC. TJ Magallanes sold 3,036,000 shares of his Series A Preferred Stock to BMG Group, LLC. TJ Magallanes retained 644,000 shares of the Series A Preferred Stock. The terms of the Series A preferred stock have not been changed or modified. This is part of an on-going discussions with an investment group to use the officers’ shares as collateral for an investment into the Company."
BMG Group, LLC filed its Articles of Organization with COLORADO on October 24th.
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