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Futureland Properties was formed to purchase land for lease to Grows. The first land purchase was 237 acres in Colorado that closed on October 30, 2014. They signed a 5 year land and greenhouse lease agreement with their first client and are currently in the process of getting all the "redtape" worked through with Huerfano County in CO.
Latest Update on Futureland & its Two Contracted Tenants:
The company has decided upon a 22,000 sqft warehouse to be constructed for Colorado Flower Company, LTD, that will have room for 3,600 plants, a bathroom, an office, a drying room and a cloning room. The site plans have been completed on both grow facility lease-holders' projects and they include hoop houses, generators, propane tanks and a couple 30,000 gallon water tanks.
One plan has been submitted along with a letter of intent to the county of Huerfano for a Conditional Use Permit and the other is waiting for an approved water plan.
FutureLand is working with San Isabel Electric Association to bring in three phase power to handle the loads for such an enormous undertaking and has already received a quote on the costs. FutureLand will also be applying for a commercial well on the property in the near future. In addition, the company has allotted an additional 30 Acres to INCC for future expansion.
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The master lease agreement is a three prong agreement consisting of:
1- Land lease agreement by FutureLand Properties,
2- Greenhouse development and operational technology agreement by HempTech Corp.
3- Testing and Lab equipment technology agreement by CB Scientific Inc.
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Base Rent is calculated at the rate of $10,000 per acre per month both for the reservation of land accommodating future expansion and/or occupancy associated with current use by Tenant within the 37 acres of Leased Premises. Such sum shall be annualized but payable in equal monthly installments. In addition to the payment of Base Rent, Tenant shall pay to Landlord, $205,000 per month (payable in equal monthly installments to accompany Tenant’s payment of Base Rent) for Tenant’s use of the greenhouse, processing equipment, Spider Security Technology, SmartSense, SmartNergy™, CaNNaLyTiX™, and growing/laboratory equipment (hereinafter referred to as the “Equipment Fee”) located on the Property provided by HempTech Corp and CB Scientific. HempTech Corp., a FutureWorld Corp. subsidiary, will supply Spider Security Technology, SmartSense, SmartNergy and CaNNaLyTiX and shall contract with FutureLand Properties, LLC to provide it to the grow. CB Scientific, a FutureWorld Corp. subsidiary, will supply all testing and laboratory equipment and shall contract with FutureLand Properties, LLC to provide it to the Grow. The Equipment Fee and Base Rent are collectively referred to hereinafter as “Rent”. Detail on the equipment supplies from HempTech and CB Scientific will be provided on exhibits through separate agreement with the suppliers.
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$10,000 per acre per month PLUS $205,000 per month...37 acres
37 acres x $10,000 = $370,000 per month + $205,000 per month =
$575,000 per month x 12 = $6.9 million per year
FutureLand Signs Second Contract with LaVita GPS
On January 20, 2015, the Company enters into a Commercial Lease Agreement between FutureLand Properties, LLC, a Colorado corporation ("Landlord") and GPS La Vita, Inc. ("Tenant"). The Commercial Lease Agreement calls for $50,000 for leased Acres per month ($10,000 per Acre per month) for the term of the lease.
Another $50,000 per month x 12 = $600,000 per year
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FutureWorld (FWDG) to Construct Large Cannabis Cultivation Greenhouse for Clients in Colorado
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