From experience not anyone can do what we are doing now. Not trying to get too much into detail here but when you are operating with over 100+ lights i wouldn't say we are at the amateur level. When you are trying to build a real it takes time along with the network of people you work with to build the business. All i can say is that we are heading in the right direction and we are working with the right people to make sure we succeed.

I will keep that in mind. Right now things are not 100% clear which is why we don't want to hold onto it for too long if we are not going to execute a plan soon. I will keep everyone updated once i receive some clear instructions on my end.

The funds are held in USD and we only convert to BTC when the transfer is going to be occurring that same day. I hope that clears up that question. A decision will be made within Jan/Feb to see how the funds will be used. Either we will use it for expansion or we will pay out dividends. Thanks.

Happy New Year!

I hope everyone is off to a good start this year. We are doing well on our end here. Sometimes they say no news is good news but at the same time i understand that i have been away from the board for long periods of time and many of you probably feel anxious about updates and dividends. Starting this post i will make it a effort to start keeping in touch with everyone more frequently. We are looking to expand into other projects starting this year which is why we have been holding back dividends.

There are several rules and regulations that will be put into place this year so we are waiting on decisions to be made by policy makers so we can move forward with our plan for expansion. It has been about a year now since we started this project with all of you and i am happy to say that we are in a position now where we can grow this business organically without any debt. We are debt free at this moment and we want to bring our investors a greater return this year by expanding our project little by little playing it very safe. I will keep you guys updated on that as soon as we see regulations being set in place.

We have put the dividend funds into reserve at this point until we are able to navigate through the next few months. If we do not end up moving forward with expanding then we will go ahead and reimburse the funds in our reserve as a dividend payment back to our investors. I would like to say that this year has been a tough one trying to get everything dialed in. It is still only the beginning in the grand scheme of things. We are continuing to learn and expand our knowledge about all aspects of this business. This year will definitely be better than the last and you will see updates from us more often.

Please feel free to shoot me a PM or i'll catch you guys on this thread as i will be following up more often. Thank you.

Montly Update - November 2014

Dividends

There will be a slight delay in converting the dividend into coins. Most of the crop was converted into cash but we still have half of the crop that is waiting to be distributed. We will have everything converted this week and dividends will be sent out as soon as that is taken care of. Thank you for your patience everyone.

Garden Status

All gardens are running at full capacity and since it is getting colder here up in WA the plants are enjoying the temps in the flowering rooms. All the rooms are dialed in with no temperature, bugs, pest, mold and mildew issues. We are starting to experiment a little bit with new growing techniques as well as nutrients to help increase yield and quality of the flowers. We are also working with an extraction company to convert our flowers into THC vape oils. I will keep everyone posted on this. We will have another harvest upcoming in December so look out for another dividend payment on the 1st of January 2015. Starting 2015, we will have consistent dividend payouts every single month. It is something that we have been trying to do all along but i  think we are finally on schedule and have the rotation perfectly timed for on time and consistent dividend payments. For those of you that have been on the ride since we first started Cannabit, thank you for your patience and support. PM me if you have any questions or if there is anything i can help you out with.

Just wanted to let everyone here know that we are still on schedule and everything is looking good. Every harvest is looking better and better. All PM's have been answered and will have a monthly update posted on the 1st of November. Also, dividends will be paid on the 1st as well. We just finished up another harvest this week so things have been busy on our end. Feel free to PM me if you have any questions. Thank you everyone for your support.

Yes, everything is on schedule and we are looking nice and solid. =)

Monthly Update - September 2014

Dividends were paid out on the 1st. I would like to thank everyone once again for their patience for the numerous delays we have been experiencing with dividend payouts. I would like to say moving forward that we won't be experiencing any more delays. As time continues to progress forward things are falling into place and the pieces of the puzzle continues to match up perfectly. The next dividend payout is scheduled for November and will be paid out as usual on the 1st. Starting December we will be able to make an effort and move towards monthly dividend payouts. At this time we are still going to be paying out dividends every 2 months until then.

Garden Status & Harvest

Most of the gardens are still on schedule. On one of the gardens had a down time of about 2-3 weeks due to new veg plants not being ready for flowering. We tried to time things perfectly but looks like we did not time this one as accurately as we could. We have 3 gardens in full production at the moment and the last garden will be fired up at the end of this week which puts us back up at 4 gardens in flower mode. We are expecting a harvest from one of the gardens this month and two gardens will be harvesting in early October. The last garden we are firing up this week is expected to harvest in November.

Updates

Once again we will continue to update once or twice a month depending on any substantial news that affects Cannabit. I will be responding to all PM's in my inbox. If you have any questions or concerns please feel free to shoot me a PM. Thanks.

Quick update on the dividend payout. We were not able to get the USD converted into BTC as scheduled on Monday. I am re-scheduling to get this taken care of as we were not able to meet as planned. This should be taken care of within the next few days. Thank you for your patience.

At this time we want to make sure that we are on point and making sure we can pay out dividends on time and keep things flowing nice and steady. Our primary concern at the moment is making sure that our investors start seeing returns before we move towards expanding. For the rest of the year we want to make sure we don't run into any obstacles that might set us back. Expanding is definitely something we will be thinking about in the future and we will want to make a decision after discussing this topic with all of you here. =)

If we can time everything perfectly i would like to say yes but i think it would be difficult. The reason for that is because we are dealing with mother nature. Even though we are operating out of a controlled environment it is really up to the plants for them to do their thing. Flowering time on average is anywhere from 8-9 weeks depending on the strain and conditions. After that the plants need to be dried for at 4-5 days then cured for at least 1 week or more for the product to be ready. At that point we supply to our outlets which can take a few days or up to a week depending on when product is needed. I think it is safe for me to say every 2 months we will have dividends for sure at this point. It might be possible for us to hit our goal of monthly dividends if time is on our side. I hope this helps answer your question. Thanks.

Monthly Update - August 2014

Thank you everyone for being so patient and also for the continued support. We had another busy month and the operation is moving forward nice and steady. Aside from hitting some high temps throughout these summer months we are not experiencing any major issues. We are going to be paying out last months dividends this coming Monday. I know it has been a long time coming but continuing from here on out i think we've hit a point where we will see much more consistency from our gardens. For those of you that have believed in us from the beginning and put your faith in our business and integrity we want to thank you. I understand actions speak louder than words so we will let the future dividends speak for itself. Thank you for all the PM's and understanding for delayed responses at times. Feel free to reach out via PM if you have any questions.

Harvest

We are harvesting two of our gardens within the month of August. One of our gardens is actually ahead of schedule which is really good news. We will have another garden harvesting in early Sept in about 3-4 weeks. I will keep you guys posted and will give you a better timeline as we make progress.

Garden Status

We have one garden that is going to be starting a new flowering cycle this coming week. The other gardens are fully up and operational at the moment. No issues to report at this time aside from little heat spikes throughout certain hot days. Two of our gardens are currently using co2 and we are having great results. We will add in the co2 setup to the other two gardens the next round they start flowering.

Updates

Updates will be posted at least once or twice a month here on the forum. Other than the monthly update there will be no further updates unless it is something very substantial and important. If you have specific questions or concerns please reach out to me directly. There is really not much to update as we are just going through cycles. We will provide information regarding dividends and the status of our gardens which most of our investors are concerned about on a monthly basis.

Monthly Update - July 2014

I have been very busy managing and making sure that all of our team members and gardens are doing great. We just finished up one of our harvests and there was a lot of work that had to be done from trimming to getting it ready for distribution. I've received a lot of good reviews and positive feedback from the last crop. We've really stepped up our game and it looks like Cannabit is going to have a great year. Take a look at the pictures below.

http://imgur.com/a/Ac3rB

Harvest

Thank you everyone for patiently waiting for the update. I am very excited to update everyone here today. Things are moving along very nicely for Cannabit. One of our first gardens has finished harvesting. The plants were cut about two weeks ago and we just finished drying and curing the flowers. This was our first successful crop with no issues at all. We only had a little bit of a heat issue as it is summer our garden had several hot days but other than that it did not affect us too much. We wanted to have the flower cleared out and moved out to our various access points before the 1st but we were not able to hit that target date. Starting this week we will be moving out product to our distribution channels. Due to this delay we will have to delay our dividends again. I really apologize for this as i know many of you have been waiting patiently.

Garden Timeline

GARDEN A - The recent garden that just harvested has started a new cycle last week with a new batch of plants that is beginning the flowering cycle. This garden will roughly take about 8 weeks for it to harvest again. The plants are looking healthy and things are looking good from here on out for this garden and it's next cycle.

GARDEN C - The last garden that was mentioned in last month's update has also entered into the flowering cycle. The garden mentioned up above and this garden are running on the same schedule so it will be about 8 weeks until this garden will harvest along with the new garden that started it's flowering cycle. All the plants are healthy and everything looks good.

GARDEN B & D - We currently have two gardens that is going to be harvesting in about 1-2 weeks. We are going to start flushing this week and the plants will be cut down soon after and will be dried and cured.

Now that all the gardens are pretty much dialed in we will continue to use the same formula and method to keep things moving along smoothly. Now our main priority will be to get dividends out consistently.

Dividends

I apologize for the multiple delays we have experienced with dividends. We are really trying to lock down a dividend schedule and keep it very consistent but looks like our timeline is not as accurate as we want it to be. With mother nature it is very difficult to time everything perfectly. If you take a look at our garden timeline we try to give everyone a rough timeline of harvest times and we are in the ball park area. After harvest is completed we have to move the product out through our distribution channels which can a few days to a few weeks to clear out that crop. I can assure you that dividends will be paid as soon as possible and since we have harvests coming up every 2 1/2 months it will definitely get more consistent. I will post up another update within the next 2 weeks and hopefully we can get a dividend paid out around that time. Thank you for your patience and understanding.

Week 23 Update

Here is an update for the month of June. In regards to dividends, it looks like we are going to have to aim for a payout every 2 months for the time being. The reason for this is because it takes 8 weeks of total flowering time and for a garden to be harvesting. Once the plants are cut it takes an additional 2 weeks for drying and curing before the product is ready for the dispensaries. Given this timeline, we are going to have gaps for the next couple of months. Once we start cycling through the upcoming harvest we should be able to see dividends being paid out on a consistent schedule. From the beginning of flowering until the flowers are ready takes about 2.5 months on average. Here is the timeline of our gardens below. Feel free to PM me if you have any questions.

Garden Timelines

We have a garden that has just finished the 6th week of flowering and we are now in the late blooming phase. Once the plants have been cut it will take an additional 2 weeks for us to dry and cure the product. We will have a new batch of plants entering the flowering cycle soon after the garden has been cleared out.

We have two gardens that are now in the 3rd week of flowering and these two gardens will be harvesting in about 5 more weeks. These two gardens look good and everything is going according to schedule. Once the plants have been cut, an additional 2 weeks to get the flowers dried and cured. A new batch of plants will be ready to enter the flowering stage soon after the garden has been cleared out.

The last garden will be entering the flowering period in 2 weeks as it is still in the vegetative stage. We are expecting about 10 weeks before we will be able to harvest this garden.

All gardens are in full capacity and we do not have have any issues at the moment. Everything is looking good.

As of right now we are going to focus on what we have going on for at least another harvest after we go this this cycle. We want to make sure we are producing at maximum capacity before we look into expanding. We've had some bumps along the way which set us back and we want to make sure we are 100% on track with no issues before we level up. Right now our main concern is to make sure we provide consistent dividends to our investors so they can start seeing their ROI. Thanks.

Week 20 Update

Just wanted to touch base with you guys. We are still making great process and we are halfway into flowering for one of the next gardens up for harvest. At the end of this week one of our growers will be finishing up our 4th week of flowering in that garden. We have two gardens that has just entered the flowering stage both last week just to give you a guys a rough timeline of when the other gardens are expected to harvest. The last garden is still in the vegetative stage and we are looking about a month or so until we can switch it over to flowering. We are not experiencing any issues and we are smooth sailing. We would like to hear from anyone that has feedback or any questions. Feel free to PM me. Thanks.

At the moment we only have shares listed on Cryptostocks. Once there is a better platform to trade on we will be taking a look into making the transition. Thanks.

We are going to be paying out our first dividend today. This will be taken care of within the next couple of hours later on this evening PST. We are going to be working on paying dividends every 1st of the month. Our priority will be to make this consistent along with the higher dividend payments going out month after month. I apologize for the delays and obstacles that we had to overcome since our launch. We will make sure we continue making this a safe and profitable investment. Thank you for your support. If you have any questions feel free to PM me.

The garden in the bloom stage is called Dynamite and the other one that is still vegging all Dirty Girl.

Dynamite - http://www.leafly.com/indica/29aca226-23ba-4726-a4ab-f3bf68f2a3c4
Dirty Girl - http://en.seedfinder.eu/strain-info/Dirty_Girl/Kingdom_Organic_Seeds/

Got an update from our growers. Here are some pictures of progress we are making. Here are some pictures of two of our gardens. One garden has already moved into flowering.

http://imgur.com/a/1EYBH

The next set of pictures here are from another garden that is still vegging but will be moving into flowering next week.

http://imgur.com/a/LxPIq

In one of our other gardens we are looking to start harvesting in about a week or two. Will keep you guys posted on that. All the plants look healthy and strong. We are not seeing any issues with any of these gardens at the moment. Dividends are schedule to be paid next week at the beginning of the month to show good faith. It looks like we are on track and going to be hitting maximum capacity on all of our gardens starting next month. If you have any questions feel free to PM me. Thanks.