We are planning to pay out dividends before the end of this month and CS is aware of this. Our goal is to keep dividends consistent as much as possible in the near future.

We have not had any issues communicating with CS since the beginning when we first asked to be listed on the exchange. We are currently not on any other exchange but we are looking to eventually move into something decentralized as soon as it has been tested and safe to do so.

Everything is moving along smoothly at the moment. Will have a more detailed update with pictures on or before Friday. Got a update from one of the garden operators and he is finally going into flowering tomorrow and that particular strain has a 50 day flowering period on average. We will have another garden that will soon go into flowering within the next 1-2 weeks, before the end of April for sure. Things are moving along and the plants look really healthy for the two gardens i mentioned. The third garden is still in the vegetative stage and we are less than a month out in regards to putting that batch into bloom.

We have responded to Cryptostocks and they are reviewing our forum thread and we should be back into good standing on the exchange hopefully before the end of this week. We are going to be paying out a small dividend before the end of this month to help regain investors confidence as it has been a long time since our first dividend should have paid out. We will soon be at maximum capacity for all of our gardens which i am really excited about. I will have pictures taken and will show a up to date progress on how the gardens are looking and will continue to communicate with everyone as we move into the next harvest. Thank you for your patience and if you have any questions please feel free to reach me via PM.

We've contacted CryptoStocks in regards to this and they are concerned that we have not hit our dividend pay out date as originally planned. Just waiting to get a response back from them to put us back into good standing. Will keep you guys updated.

You got it. Each garden can legally have up to 45 plants. That is why we operate multiple gardens to stay within the legal limits.

Thank you for your understanding. A business that operates in the non-bitcoin economy does not generate revenue and dividends like a ASIC mining or a bitcoin gambling venture would. I hope people can see and understand that.

I am working on paying out the first dividend in April. It is not going to be a huge dividend by any means but i do want to get the ball rolling to show we are making progress. After the April dividend i would say the next dividend would be June. I will keep everyone updated on this. Thanks.

Awesome. Check out the new pictures we put up recently. Will continue to post more pictures every other week as we make progress. Thanks.

http://imgur.com/a/Pzqg1

Replied back to your PM. Keep in touch and thanks for the response.

The grow operations are located in the state of WA where it is legal where Cannabis us legal for recreational and medical use. The lighting conditions are not poor at all. We are running a garden with 8 x LED lights from one of the best LED grow light manufacturers in the industry. For the other gardens we are running top brand reflectors, light bulbs & ballasts. Please point out how this is illegal and why you feel the lighting conditions are poor.

As long as you are not bashing and staying positive feel free to share your thoughts. Constructive criticism is always welcomed. Cannabit has invested into several operators/growers for the gardens. Cannabit itself is not directly cultivating our own crop but we are working with the growers who is doing the cultivating and maintaining their gardens. Each garden can legally have up to 45 plants. We currently have 4 fully operational gardens. The current plant count is at the moment is 141 plants combined that are flowering/vegging. This is not including some new seed we planted and clones that have been cut from our mother plant.

If you don't mind sharing the details of your project and how you plan on making it happen i would like to hear about it. Reply back to the PM i shot you yesterday.

I wanted to post some pictures up to show the steady progress we are making at this moment. We are still moving forward without any major issues. I apologize for the delay in dividends but will make an effort to get dividends out to our shareholders when we are able to. Feel free to shoot me a PM if you have any questions or concerns. Thanks.

http://imgur.com/a/Pzqg1

The first 3 set (3 pictures) of pictures are of our HPS garden that is in the flowering stage. The 2nd set of pictures (2 pictures) is of our LED garden that is in the flowering stage. The 3rd set of pictures (3 pictures) is another HPS garden that is still in the veg stage. The 4th set of pictures (2 pictures) is our room where we have more plants in the veg state.

http://imgur.com/a/HpeWQ

We did end up making both shatter and wax with the last crop. The first picture is the shatter and wax. Also we have some product that is still in the curing process.

There is no need to come on here bashing us bringing negativity to the thread. We had a setback as mentioned due to the mold issue we had. The ari circulation was poor and the problem has been fixed. You are telling me that the grow equipment we have is worth 8K at most? Just the LED lighting alone was worth close to double of what you are claiming our setup costs. Aside from the LED lighting, i have listed the HPS hoods, lights and ballast just to give you an idea of the setup we have. If you add in the cost of the climate controllers, tents, fans, nutrients, etc... there is way more than $8k of flower power that has been invested into this project. If you do some research on the equipment listed for anyone that is interested we have spent a good amount of funds on equipment. Let's try to keep this post positive. I understand there are professionals out there who have many more years and experience under their belt. I assure you that what we have going on is not a scam and dividends will be paid out as soon as we can consistently generate income for our shareholders. We've had a little set back but everything looks good looking forward.

8  X  California Lightworks SolarStorm 880
http://californialightworks.com/product/solar-storm-880/

24  X  Hydrofarm Raptor 8" Hood Reflectors
http://www.hydrofarm.com/our-brands/raptor.php

24  X  Hortilux HPS 1000w Grow Bulbs
http://www.eyehortilux.com/products/High-Pressure-Sodium#shps

24  X  Lumatek Air-cooled Digital Ballast
http://www.lumatekballast.com/products/ballasts/#prod-188

Thank you for your comment. This is for real and with any investment it is a gamble. But with any investment there are risks involved. As long as we don't experience anything out of the ordinary that is out of our control i would say this is not high risk. Competition moving in fast though as it looks like there is more supply coming in than the demand available which results in price drops for volume purchases.

Dividends are going to be a little delayed. I know the reason for investing is for the dividends and returns. All the investors will see that coming your way as soon as possible. I don't want to give out a exact date as of now just in case i am not able to keep that promise.

The wax/oil prices in the area have significantly dropped. We know people that want to take it off our hands but not at the price point we are looking for. We might have to settle if we cannot move it out at the price we want. It might be the only choice for we to unload the wax. Will let you know as soon as we make a decision.

Mar 2014 - Week 11 Update

http://imgur.com/a/TPBiW#0



This picture is from one of our flowering rooms that is currently going through the cycle. This room is about 1-2 weeks in the flowering stage. These plants look very healthy and strong. The temperature issue has been resolved and is maintaining a constant high 70's when the lights are on for 12 hours. When the lights are off the room stays in in the high 60's. Airflow and circulation looks good at the moment with no issues.



The next set of pictures you see is one of our new flowering room. This room is almost set up ready to go for new plants ready to enter the flowering stage in about a week. We just have to finish up some ducting and get the fans going which should take no longer than a day to finish up.



These plants will be entering into the flowering stage in about a week and will be moved into the flowering room we have setup (picture above). They are ready to be transplanted into bigger pots before being moved into flowering. We have another batch of clones that will be ready at the end of this week that will keep us on schedule after these babies have been moved into the next stage.

We are working hard to keep things on schedule and the rotation consistent so we don't experience any down time. We want to make sure we have plants always flowering, vegging as well as new clones being produced from our mother plants. We are heading in the right direction and we should be maximizing the space and lights in each of our gardens within the next few weeks. Hope you guys enjoy the pictures. Thanks again for your support and understanding. I appreciate the PM's sent with words of encouragement.

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.

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.