Topic: [CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit - page 18. (Read 66254 times)

why share price doing so badly?

Except Counterparty has yet to setup BTC dividends, they can only be paid in XCP and I personally don't want XCP's for dividends. They plan on incorporating them in the future but its not a usable platform until that has been setup.

You should look into Counterparty /XCP that has already a decentralized exchange in place. Dividend distribution is working too.

Mar 2014 - Week 10 Update

After talking to with our partners we felt that it would be better to turn all everything that was harvested into wax. This decision was made because we did not want to sell a product that could potentially make people sick. This would also put us in a bad position if our customers came back to us with traces of mold and issues after medicating. We have less than 10lbs of product that will be turned into wax as soon as possible. This should help us make the best out of this situation.

As far as a distributing shares through a decentralized exchange method that is definitely something we will consider as soon as it is ready. We want to make sure we don't have any issues with a centralized exchange as we have all experienced and seen last year as well as the past few months. As soon as a tested platform is ready and there are no bugs or issues we will move over to that right away.

Dividends will be put on hold and delayed temporarily. We will try to get dividends paid out as soon as we can. I know that some of you early shareholders have been waiting ever since we officially had our IPO in January. This will be on top of the priority list and will make an announcement as soon the dividend payout has been rescheduled. The mold issue set us back a little bit. We apologize for this delay.

Moving forward, we have new plants in the rotation. Will take pictures before the end of this week and post them up to show progress being made. Our plan for the time being is to maximize the output of the gardens currently operating at the moment. We want to achieve more consistency along with producing a better yield. We will not be working on expanding until we maximize our production with the partners we are working with now. We will position ourselves in the local market by providing a few in demand strains that no one has here.

Please feel free to PM me if you have any questions or concerns that you would like addressed. Thank you!

Thanks for posting up. The mold issue was due to the airflow in the grow room. That issue has been fixed now and the intake and exhaust airflow in the room is good. You are definitely right about how hard it to stop the mold once it starts developing. It is unfortunate that some growers will try to sell the product even though there was mold issues. We feel this is not the right way to go about this. We initially tried to determine what was salvagable and what was mold infested but in the end we felt the same as you have stated. The mold had spread all over the place and the damage has been done already.

In order to prevent any future issues we are only working with one trusted clone company and we will have our partners start to grow from seeds. The new crop consists of clones and we will move everything over to growing from seeds the next round. It is true that most people selling clones and growing clones have no idea where they came from and how strong the genetics are. We want to take every precaution and make sure we have our growers bring out high quality products with strong genetics.

the reset email wasnt even deleted.  it was sitting in my inbox unopened

If they hacked your email account you dont need to see it. They could have deleted the reset email and thats it.

my e-mail wasn't hacked only my cryptostocks account.  they didnt even need to open the password reset e-mail however they did it. 

No problem with my account. You had a unsafe password/no google auth/email hacked?

Proof or gtfo.

ATTENTION CRYPTOSTOCKS USERS.  CRYPTOSTOCKS HAS BEEN COMPRIMISED.!!!!!!!!!!!!

I just visited cryptostocks only to realize my account has been hacked.  they didn't have access to my e-mail and they didnt need it.  Be forewarned that nothing is safe on cryptostocks.com   

I would like to extend a little knowledge here. There are different types of mold, but I think he is talking about botrytis mold or grey mold. I would assume, because OP never specifies exactly what. He could have had powder mold too... which is substantially different. Also watch out for spider mites, if you get those, you have to take EVERYTHING down, bleach EVERYTHING, and start over a very costly endevour.
IF it was botrytis mold, that generally occurs when the room doesn't have enough airflow/space around the plants, but personally my biggest problem with the grey mold was when my plants got HUGE, I would find a few colas with grey mold and if I didn't harvest right then, more and more, it is really hard to stop once it starts. The bad thing is, most people will still sell this, they just cut out the moldiest parts and sell the rest of the plant. This is not medicine, it doesn't help people, it gets them sick. The mold spores are already all over the place and damage has been done, usually to the best part of the plant.

Anyways, the best way to prevent this is with proper environmental controls, but in my experience I have found strain and if you grow from clone or seed matters A LOT. If you buy clones then who are your clones coming from? It seems a lot of people selling clones don't know are don't care that they are passing bad genes on that are more susceptible to these kinds of molds.

I grew in 2 warehouse in CA for 5+ years, also look http://www.ilovegrowingmarijuana.com/marijuana-diseases-gray-mold-bud-rot-botrytis/


Good Luck with your business I wish you much success.

Weren't divs supposed to be paid end of Feb?

It might be a bit early, but have you ever considered distributing shares using a decentralized method, such as Colored Coins?

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This is great, however I agree with XliptTit with the need for a business prospectus. It sounds like you guys are on the way, however simply having an official business plan in a downloadable PDF would go a long way with people here. The pictures of the product are great proof that what you're doing is legit, however a business plan would really make you guys stand out and increase investor confidence.

Thank you guys for being so understanding. The mold issue was unfortunate this time around. We went over the overall setup with our partners and made changes.  We worked on making fixes in the gardens to provide better intake of fresh air. We also made changes to allow the air to exit while providing a strong suction to increase the intake/exhaust airflow. We want to maintain a sterile environment for the plants to prevent other issues such as mites. We will make it a huge effort to make sure this does not become a reoccurring issue.

We have been having numerous discussions with our team as well as our clients. It really does take alot of knowledge and experience to develop the skill of growing Cannabis. Mistakes will be made along the way while learning from those mistakes. I believe it is a step by step process and with more experience our partners will be able to produce a better product as time progresses.

Cannabit has only been around for a few months. We are still in the early stages of the business and heading in the right direction. One of the things we have been working on is the cycle schedule. From the seeding stage to the vegging stage then to the flowering stage and ultimately to harvesting the crop. Timing is very important because we want to maximize the amount of space and potential of each garden. We will see no more down time and will constantly have batches of plants to be moving into the different phases like an assembly line.

I will post more pictures along with details in this weeks update. Thanks again for your support.

More informations like : Expected return, next moves, how you are expecting to position in the market, status of the legal situation. After reading the whole thread I get the feeling that you know what you doing in terms of expertise but lack hte business acumen.I want to invest but with so few information proper valuation and risk measure are way subtle.

Here is an example of what I think would be a good lvl of comunication:

https://www.havelockinvestments.com/fund.php?symbol=RENT

(this is the page of a real state firm in central Ohio that funded itself in bitcoin through Havelock, pay attention to the business plan)

Thanks for the update and actually letting us know about the mold issue. Its great to see your learning from it whilst being transparent to the shareholders about issues that have arisen.

Thanks for the update.

Minus the mold issue, glad to see things are moving along as planned.
I also like the fact that you guys are exploring other areas including wax, which has also become very popular in LA area lately.

I'll be buying some OG Kush with my first divs.

I also agree with dexX and demand more sweet pics (minus the mold)