No problem, but just to be clear that was the company's explanation of their reasons for canceling their Preferred B plans in their 8-K. I was just the messenger....in case there's anything funky about it please don't shoot me :o)
Now if only I could explain today's 8-K. I guess the first section was supposed to put the VBF issue to rest and I'm sure that many people feel that it does, but I don't understand how it answers these things: "the precise method by which VBF, Inc. was "transferred into SIGO", the date on which that occurred and the compensation that SIGO provided for the so-called transfer." Those were the only questions that I had. I'm ALMOST sorry I asked them. Perhaps when they account for the transaction in the 10-K, wherein I presume they will record the financial details of the "transfer", it will all become clear. (BTW, I found it odd that it was okay for 1PM to declare VBF Brands a wholly owned subsidiary when it was a non-profit but it wasn't legally proper for Sunset to do so.)
The square footage explanation doesn't seem consistent with prior 8-K statements: "The current greenhouse is 20,000 square feet." The original lease was for 12,000square feet (all of Building E) and 1,000 square feet in Building C (aka "the Shed"). Then a 10-Q was filed on 9/19 saying "The Company has agreed to acquire an additional 6,000 square feet as part of its overall expansion plan which 100% will be devoted to grow space."
Then an 8-K was filed 3 days later: "On September 21, 2017 the company finalized and closed on an agreement to acquire an additional 32,000 square feet of cannabis grow space which includes a 2 ½ year lease with two 5-year renewal options. Initially the Company agreed to acquire an additional six thousand square feet that is within a few yards of our existing facility. These six thousand square feet was a small part of a 32,000 square foot facility. The Company has acquired the entire 32,000 square feet from the original occupants. All of it will be used for grow space. The Company will take possession of the space on October 1, 2017." https://www.sec.gov/Archives/edgar/data/1689066/000147793217004649/sun_8k.htm
I don't know how that ends up to be "The current greenhouse is 20,000 square feet." No new or amended lease has been filed.
Under "(C)" the company talks about some discussions with foreign investment groups and says: "As part of these discussions, the Company will change its fiscal year from November 30 to either September 30 or March 31." The current fiscal year end date is October 31, not November 30...the company MUST know that and I don't understand how they could get that wrong. It also says "the Company would transition to a Regulation A+ reporting company" but it doesn't say why they would do that.
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