This is from Crop FB group.... “I spoke with Nick at Crop H.O. today about this Bioscience (Bio) deal. This is what he had to say:
Bio is held by a private company (no name given) based in Europe and sells their product to the European market for some years now. Bio was created this month in California to serve as a US entity to purchase crops in North America. They cannot get enough supplies in Europe to meet demand apparently. Nick confirmed that Bio paid a deposit that will be over $850,000 in total. Bio is apparently securing a line of credit for $100,000,000 and the prinicples of the company have about $10,000,000.
This puts my mind at ease to some degree because Bio is such an enigma. Like someone said: Crop must grow their hemp successfully and they have had mixed success with that. Their Master Grower has much experience with cannabis growing but very little with hemp hence their recent test grow which saw success with the first pivot but second not so good. (apparently due to planting too late). But Nick said Crop learned and are ready to move forward but there is still much to do for Crop to prove they can execute.
On another note Nick says there will be an update about their phase 1 Nevada production facility within the next couple weeks. I don't expect it to help the sp. Only revenue will do that now.
Crop is also seeking hemp crop insurance to cover in case of crop loss. I was happy to hear that.
Thanks for reading GLTA....”
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