"Farming is Unpredictable, Subject to the Whims of Mother Nature and Climate Change. Hemp Seeds and Qualified Labor are Expensive. Due to the Unpredictable Nature of Farming, our Results of Operations May be Negatively Impacted.
Our farm in Union, Maine produced a crop of hemp in 2018 at great cost: After purchasing high-CBD-content seeds, we needed to pay a third-party to develop the seedlings. From planting to harvest, farming can be very expensive. In 2018, late snows meant that by the time the seedlings were moved outside, the available growing season was curtailed. Exacerbated by a dispute with our farm manager and farmers, we ultimately had a net zero crop yield as the farmer retained the crop after the Company was unable to reach an agreement as to compensation for the crop yield. We cannot guarantee future results on our farm, which can be subject to theft, labor disputes and other unanticipated costs, including plant disease. We learned that the soil on our farm has the Tobacco-Mosaic Virus, which may negatively impact the value of the land and any future crops. In addition, farming is subject to weather and environmental factors, which could negatively impact our results of operations in the future."
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