Feb 2014 - Week 8 Update

The operators have finished drying and trimming the harvest from the first garden. The buds are now entering the curing process where they are put into jars with airtight lids to prevent mold growth. During this process the jars are opened every 12-24 hours to allow the fresh air. The curing process usually takes anywhere between 1-2 weeks and then the whole process will be completed. The end product will be ready to move along the supply chain into the network of stores we work with.

The harvest from this garden had a mold issue that affected some of the plants. Mold issue is one of the main problems that growers experience. Growth of molds is a serious issue and we were able to remove some of the infected parts of the plants. When the plant is infected with molds, there is no cure for it. What you can do is to remove the infected parts. Molds are sometimes difficult to detect. The best way is to prevent its growth from the beginning. Mold grows when the temperature and humidity is not properly maintained in the garden as well as over-watering the plants.

This is definitely not good news but we feel that this is a part of the learning process while having the operators perfect the craft while going through the cycles. We have addressed this issue to help prevent mold issues in the future. There are certain steps that will be taken cautiously to make sure this is not a problem for all the gardens that Cannabit has invested in. Thank you for your patience and understanding while we overcome obstacles and continue to push forward in the right direction.

I feel the same way. Just think of this investment has a regular investment but Bitcoin is the method that you are able to invest. If you value the investment in fiat where you invest and get a return in fiat then it is a great hedge as BTC value drops.

On a side note, we are now working with a wax maker and will connect our growers to the wax maker in order to turn some of the flowers into wax. Meeting with many store owners in the area, they are looking to expand into more wax products as they see it is the future.

The Solarstorms are awesome. They are actually the optimal setup but they are just too expensive compared to the HPS setup. I have heard good things about plasma lights as well. Hopefully prices for LED lights will come down in the future. Aside from the price point i would recommend others to go the LED route if possible.

We have not updated the first post on the thread but we might start updating the front page when there is a major change to the security or the direction of where we want to go. In a few months we want to be able to be a little more hands off with our growers. Once we can free up some resorces we would like to start working with potential partners and focus on opening retail outlets. This way we can connect both the growers to the retailers by building relationships where we can advise our partners from start to finish. We hope to start expanding into that direction mid 2014. We eventually want to be able to have a presence in every part of the supply chain. The number one priority is to establish and maintain our relationships with our partners and bring a high quality product to the market.

Feb 2014 - Week 6 Update



http://imgur.com/a/N5HMr

Another update with progress on what is going on. Here are pictures of the first batch of plants drying. The plants are currently drying for the next week. After the drying process is complete, the plants will be trimmed then cured for about 2 weeks. The curing process is the most important stage in producing a quality product. Here is a little bit of information on curing.

The process of curing promotes the slow decarboxylation of oxygen molecules from the THC present in the bud; this will increase the psychoactive properties, making the weed more potent. The curing process also means that moisture levels will be consistent across the entire bud, giving you a much smoother smoke and a more even burn.

The last two pictures are of clones that will be moved from vegging to flowering stages in the following weeks. We will be fully maximizing the potential of all the operational gardens which we are very excited about. Our plan is to advise our partners to go fully organic (nutrients) and focusing more on the quality of the end product. We are constantly testing out new methods of growing and researching new ways to achieve a superior product. The next several months for this project will be very interesting. Thank you for your support. Please feel free to PM me if you have any questions.

Yes, the project is definitely moving along nicely. In regards to dividends we are expecting to pay out the first dividend towards the end of Feb. That is the rough estimate that we have at the moment. Thanks.

Jan 2014 - Week 5 Update

Just dropping in to do another update for week 5. Everything is still moving along with everything stated in last weeks update. There is not much to update as what will be happening in the next few weeks. Our partners are making great progress and it looks as though they will finish up a successful cycle. We have a great team we are working with and i will continue to keep everyone updated as we continue to make progress. Thank you for your support!

I wanted to address and clarify one more time for some of the new investors or current shareholders of this investment. I have been made aware of something that should be made clear about Cannabit. As stated directly on the first page of this thread, we are investing in business operations related to the legal Cannabis industry. The first phase of this investment is where we are now, which is targeting entrepreneurs looking to open up cultivation centers as well as retail dispensaries. Eventually moving forward, we would like to focus on distributing supplies as well as related products. The list of services we would like to provide to our clients is the following:

Consulting Cannabis Entrepreneurs
Opening Cannabis Dispensaries
Opening Cannabis Cultivation Centers
Opening Cannabis Evaluation Centers
Selling Supplies; Retail and/or Wholesale
Providing Cannabis Education Services

We just want to make sure that we are not misleading or misrepresenting any shareholders or any potential investors who might think otherwise. We are not in the business of cultivating and distributing the products directly ourselves. We work with those that handle the operations on a day to day basis by providing them with much needed consulting as well as advising. We help manage the overall operation and provide direction for growth and success. We are only providing the services listed above. I hope that this post can help clear up anyone that might want clarification as to what we are and what we do.

Copied from our Reddit thread.
http://www.reddit.com/r/BitcoinStocks/comments/1u5smb/cannabit_ipo_should_you_be_a_part_of_the_green/

twentyseventy 2 points 27 days ago
They bulk of their revenue looks to be consulting on grow operations, setting up dispensaries, etc.

keonne 1 point 27 days ago
Those are taken word-for-word from the IPO page, but basically Cannabit will be advising and providing funds to legal marijuana farms and dispensaries. They will not be directly cultivating and harvesting product.

Jan 2014 - Week 4 Update



http://imgur.com/a/ClqxF

We have good news! The Cannabit harvest is taking place from the first garden this week. The picture up top is the first plant that was cut this week from one of the gardens. The remaining 20+ plants in the garden is going to be cut throughout the next few days according to the grow team. Once the plants are cut they will be trimmed, dried and cured. This whole process takes about 3 weeks on average so i will keep you guys posted as we make progress.  We have also planted some new seeds this time rather than cloning as you can see in the pictures. These will be in their vegetative stage for the next 4-6 weeks before they enter the flowering stage. Below are information on the 3 strains that are being grown from seed.

Grape Ape (Indica) - http://www.leafly.com/indica/grape-ape
Blackberry (Indica) - http://www.leafly.com/indica/blackberry
Girl Scout Cookie (Hybrid) - http://www.leafly.com/hybrid/girl-scout-cookie

As of right now there are 4 gardens that are operating with 2 more gardens that will be operating by March. We are working with our partners to make this happen as soon as possible. We want to see a safe and steady growth while trying to perfect the craft and produce a high yielding quality crop every time we go through a cycle. Things are looking good and we are definitely making progress. Thank you for those of you that are continuing to support the project. Please feel free to PM me if you have any questions.

Jan 2014 - Week 3 Update



http://imgur.com/a/WKPZZ

All questions have been answered directly via PM. Here are some random shots that were taken this week. Not much has changed since last week. We are still on schedule to get 2 more gardens up and running by the end of Jan or early Feb. It looks like the first harvest will start to take place in about a week. Once the plants are cut, the drying and curing process will start which will take about 2-3 weeks. The buds from the Cannabit crop look bigger than the last picture in the album. Please feel free to PM me if you have any questions. Thank you for support.

All questions have been answered and replied to via PM. Thanks guys and have a great weekend!

By the way things are moving along we should be paying our first dividend starting February. =)

Awesome! Glad you are hopping on board. We are making steady progress so things are looking good. Thank you for your support.

Here are some tagged pictures. I will be uploading more pictures into the album with more tags to help verify these photos are ours. Included in the picture is the forum username along with today's date.



http://imgur.com/a/Bc2dc#0

Of course. Will get this done tomorrow. We'll either use the same picture in the original post or we'll make a new one and hash tag #cannabit with the date as well. I'll have someone take care of that ASAP and i will upload photos in the morning. I wanted to share an article that i ran across tonight. I hope that support for legalization continues to grow.

http://www.businessinsider.com/cnn-marijuana-poll-2014-1

Jan 2014 - Week 2 Update

I hope everyone is having a great start in 2014. We have been keeping busy working with our partners trying to push forward. Here are some pictures of the new equipment being set up last week by our team. This tent will run HPS lights as you can see.



http://imgur.com/a/k1mjs

Below are pictures that were taken from our visit this morning. We have some new clones and seeds the growers will be planting this coming week. The strains that are currently being grown in the various gardens are the following.

Crystal Mass (Hybrid) - http://www.medicalmarijuanastrains.com/critical-mass/
Girl Scout Cookies (Hybrid) - http://www.leafly.com/hybrid/girl-scout-cookie
LA Cheese - n/a
OG Kush (Hybrid) - http://www.leafly.com/hybrid/og-kush
Purple Morac (Hybrid) - http://www.medicalmarijuanastrains.com/purple-maroc/
White Rhino (Hybrid) - http://www.leafly.com/hybrid/white-rhino



http://imgur.com/a/zrKuv

The people that we are working with are making great progress and the upcoming crop looks really good. The updates will continue as as the team makes progress. Once again thank you for your interest and support.

I will make an effort to achieve success even without further verification. I hope down the line we can earn your trust. Lets chat. Sending PM now.

Thank you for your support. Will post some new pictures this coming week. One if our gardens should be ready to harvest in about 1-2 weeks. Buds look really good. Will keep you guys updated as we make progress.

Thanks for posting. I am sharing only my opinion with the community to let people know we share many of the same experiences. I understand the frustrations investors have because i share the same frustrations. One of the main purpose of this project was to create something better for investors. From the choices of securities available to us today, i feel that i can do a better job of communicating than most of the issuers here on this board.

I understand that running a successful operation can be difficult. There are things that are in your control and things that are out of your control. In order for any project to succeed it's about who you know and what you know plus a little bit of luck and timing. In regards to our network and knowledge we got that covered. I believe timing is great for investments related to the legal Cannabis industry as well. As far as luck goes, we'll have to hope that we don't backtrack and that we continue down the path for further legalization. I feel that we are in a good position right now to take advantage of this opportunity. Please check back often to stay up to date on our progress. Thanks. =)

Your points are valid and i totally understand where you are coming from. The operators and i would like to remain anonymous. It is not because we have anything to hide but we feel that it is safer this way. There are a few shareholders here that have met me in person, know my name and phone number. If they wish to come on forward and confirm this then it could help verify that this project is real. I will post a few more pictures after the weekend with a tag in every picture to help provide more physical proof of existence. I assure you as time progresses you will see consistency and results which will help determine the safety of this investment.

Thanks to twentyseventy we are also on the BitcoinStocks reddit. Check it out.

http://www.reddit.com/r/BitcoinStocks/comments/1u5smb/cannabit_ipo_should_you_be_a_part_of_the_green/