Sunset Island Group, Inc. is a Colorado corporation. The Company’s principal line of business is consulting and advising clients that operate in the medical marijuana business by providing clients a licensed manufacturing facility to produce products such as oils and edibles.The Company currently has ability to distribute products in 50 dispensaries throughout the state of California. Thereby, allowing the company to introduce client’s products to dispensaries. The Company charges clients a fee to produce its products and will receive a commission on products sold through its network. In November 2016, the company acquired a C02 extraction machine to begin producing oils for the Company’s clients.
On February 11, 2017 the company began discussions to develop a CBD product line. The company would develop the CBD product line to sell online and possible through other online and brick and mortar retail channels. The product will be developed by trained French Chef and with over 20 years’ experience in Product Development and Food Production and who also has developed products from their concept stage to national distribution that have generated over $100 million in sales.
Sunset Island Group Announces CBD/Hemp Oil Dietary Supplement Products for the $200 Billion Dietary Supplements Market
Sunset Island Group, Inc. (OTCQB: SIGO) announced today that it has begun development of CBD dietary supplement product. The initial product will feature a 2-oz stress relief beverage made from highest quality legal Hemp/CBD oil and real fruit. The products will initially be sold through the company’s website. The Company expects to expand by selling though Amazon and other retailers. The Company will continue to develop products that will address the demands in the global dietary supplements market which is targeted to soon reach beyond $200 billion. Consumer Hemp/CBD sales reached $85 million in 2015 and could reach $115 million this year, according to The CBD Report by The Hemp Business Journal. By 2020, analysts project that the market could surpass $2 billion in size. Hemp/CBD is legal in all 50 states.
The product will be developed by trained French Chef and with over 20 years’ experience in Product Development and Food Production and who also has developed products from their concept stage to national distribution that have generated over $100 million in sales.
On February 25, 2017, the Company began discussions to exclusively license and private label a breakfast product that has previously generated $20 million in sales. The product has been sold in over 3,000 stores including CostCo, WalMart, and Target. The Company is expecting to complete the license agreement within the next two weeks. Once the agreement is in place and a new label has been approved, the Company can begin selling the product into grocery stores and box stores throughout the United States.
On June 8, 2017, the Company uploaded photos of its greenhouse and grow operations onto its website. The photos can be found: https://www.sunsetislandgroup.com/pictures. The Company expects to begin harvesting the first crop at the end of July 2017. The yield is expected to be between 100-200 pounds for the initial harvest and the company expects to harvest between 1,000 to 1,500 pounds over the next 12 months.
Q1. Any ideas on how much additional space you'll be offered/allowed by the current landlord; 150k, 230k, 300k+ sq. ft?
Q2. What is the exact square footage that you occupy currently?
Q3. How do you explain to shareholders an S-1 Registration where shares can be bought for ten cents?
A. The answers to these three questions are closely linked. The company currently occupies approximately 22,000 square feet. The company has been offered up to 750,000 square feet by our existing landlord. For the first phase of expansion, we plan to lease a minimum of a combined 152,000 square feet, however the Company is still in discussions with the landlord about the entire 750,000 square feet. The Company has stated that it would be interested in the entire space only if we could access it in phases that matched our ability to distribute and sell the product. As far as the S-1 Registration is concerned, although the shares are set at a fixed price, the company is not obligated to sell all of the shares. If we did so, theoretically, $2,000,000 would be raised, but to expand to 750,000 square feet, that would require $8,000,000 to $10,000,000 in operating capital. Therefore, in order to maximize the use of the S-1, the initial investors who will be purchasing shares from the S-1 have agreed to invest additional capital in a designated class of preferred shares that will become a long term investment in the company with no voting rights, conversion rights and with restrictions. With that in mind, the number of shares that may be sold from the S-1 is yet to be determined. Regardless, the S-1 is in place for expansion only. How we manage that process is directly related to the square footage that will be secured as part of the expansion and the number of shares added to the outstanding.
Q1. How much revenue has the company generated from the initial harvest?
A1. From August 1, 2017 through August 7, 2017, the Company generated approximately $140,400 from 117 pounds harvested.
THE ABOVE IS CONTRADICTED BELOW UNDER OOPS!
On August 30, 2017, the Company agreed to acquire additional greenhouse space as part of its overall expansion plan. 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. We have announced our intention to ramp up to a minimum of 152,000 square feet of greenhouse space and this is the initial step towards that goal. The company will continue to add additional square feet in a manageable fashion. The new greenhouse space is located next to our current operations which allows the Company to leverage its current infrastructure. The Company is expecting to harvest the first crop in approximately 90 days from the new square feet.
OOOPS! Q1. How does the company account for the plants it grows? They don’t appear as assets on balance sheet.
A.1. The Company has concluded to expense these costs instead of capitalizing them (making them assets) as the Company does not yet has proven that such costs incurred will have success in growing or cultivating cannabis since no sells have occurred. The Company is a startup in this cultivation and until success is proven, the Company will continue to expense these costs until the Company has initial success in cultivating cannabis. Dated: September 21, 2017
The company has decided to do the dividends on a quarterly basis in order to simply the process with FINRA and DTC. Dated: October 20, 2017
1. The Company has begun using its trim to produce Rosin. The Company sent its initial batch to the lab for testing and expects full results this week but initial tests show 77% THC levels. Rosin is created from a mechanical process involving heat and pressure. Rosin is becoming popular due to the fact that it doesn’t use solvents or chemicals in the extraction process, it is just as potent as BHO or other concentrates and can be used in nearly textures or consistencies. The company is using a rosin press and the trim that is created from the company’s harvesting of its plants.
2. The Company is meeting this week with a new distribution company for Southern California that is headed up by the son of the founder of Pizza Hut.
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