[CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit

[arousedrhino]

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.

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

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.

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[BitHub]

why share price doing so badly?

[IamNotSure]

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.

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

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.

Not anymore

from Counterparty thread :

Counterpartyd version 6.6 allows dividend payments to be made in bitcoin: https://www.counterparty.co/pay-dividends-with-bitcoin/

It's cool because I don't trust cryptostocks + the fees are exaggerated on that platform.

[jjjohnson]

why share price doing so badly?

people getting impatient
lack of positive news

[Regenmacher]

Sell orders @ 0.001800 but nobody willing to buy...

[forzendiablo]

i stack hold SUN coin. imo decent

[cannabit]

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.

[floatyfish]

Thanks for the update, any news about the wax that you guys mentioned last time?

[grunt]

Yeah a date or some sort of timeline for an actual dividend payment would be nice. Otherwise why are we investing with you?

[lobbes]

why share price doing so badly?

people getting impatient
lack of positive news

The issue was raised earlier in this thread that one of the major challenges potential investors will have to get over is the lack of verification on the issuer's side. I do understand the reasoning of having to stay 'under the radar' in this case, and the OP has come across as a very genuine person. He communicates well and responds to PMs very promptly.

My gut tells me this thing is for real, but without proof it's just too much of a gamble.

[senorbendito]

Curious as well about what the profits will look like, saw that you're pm'ing those details to people who are considering investing. Send me what you can, I'd like to see as many numbers as I can - operating costs, capital expenditures, revs/profits etc. Thanks!

[lynn_402]

Curious as well about what the profits will look like, saw that you're pm'ing those details to people who are considering investing. Send me what you can, I'd like to see as many numbers as I can - operating costs, capital expenditures, revs/profits etc. Thanks!

I'd very much like to receive this too
Why not make it public?

[cannabit]

Thanks for the update, any news about the wax that you guys mentioned last time?

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.

[cannabit]

Yeah a date or some sort of timeline for an actual dividend payment would be nice. Otherwise why are we investing with you?

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.

[cannabit]

why share price doing so badly?

people getting impatient
lack of positive news

The issue was raised earlier in this thread that one of the major challenges potential investors will have to get over is the lack of verification on the issuer's side. I do understand the reasoning of having to stay 'under the radar' in this case, and the OP has come across as a very genuine person. He communicates well and responds to PMs very promptly.

My gut tells me this thing is for real, but without proof it's just too much of a gamble.

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.

[SebastianJu]

Thanks for the update, any news about the wax that you guys mentioned last time?

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.

I guess thats to be expected. The market is a boom market and everyone and his friend wants to get in. Hopefully it not gets to the point where only the strong survive. Though im confident in cannabit anyway.

[AmericanBit]

why share price doing so badly?

people getting impatient
lack of positive news

The issue was raised earlier in this thread that one of the major challenges potential investors will have to get over is the lack of verification on the issuer's side. I do understand the reasoning of having to stay 'under the radar' in this case, and the OP has come across as a very genuine person. He communicates well and responds to PMs very promptly.

My gut tells me this thing is for real, but without proof it's just too much of a gamble.

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.

Wow, what is this, amateur hour? Its not the strain that caused the powdery mildew. All you needed was 100 bucks, what I know, and you could of saved the whole crop. It was winter and your air circulation was weak at best. You dont need new clones or new strains. You should be growing the most profitable ones for your investors. Youll probably be fine in the summer, but then your operating costs will go up with the need for AC. You must have messed the flowers up pretty bad to have to scrap the whole grow, but I didnt see anywhere NEAR 10 pounds in there. Pretty bush league to "try" and grow with other peoples money at stake. Ill be launching something similar to your Cannabit, just wanted to check out the competition...not seeing much here.

Im not done here actually...the small veg plants are droopy, deficient and yellowing. They need water, and probably some nitrogen. Your PH and PPMs are probably off as well.

Not trying to be a dick, its just kind of unsettling to see someone else already in my space; and they dont really know what they are doing. I mean, I read your IPO before I found this thread and I said to myself; holy shit, these guys have no idea what they are talking about, and they clearly dont know the medical marijuana business. So I was not surprised to see there were no dividends paid out yet. But youre right, growing medical marijuana isnt easy and it takes years, and a few bad crops to perfect. Its just too bad you are learning with investors money. And powdery mildew is easily avoided. Here is a taste of my meds. I only grow OG because it sells for the highest no matter what.




Its the sticky icky

[SebastianJu]

Im not sure what to think of a competitor posting in a competitors thread its own advertising and claiming "i can do everything better".

Normally i would have thought that these tents include technique to overview humidity, temperature and other factors so you get informed of bad conditions instantly. Im not sure if the airflow can be measured correctly somehow.

What do you mean with 100USD were needed to safe the whole crop?

Anyway... its a bit strange that you admit errors can happen but blame others when it happens then. Im not in the business so i cant tell what could have been though.

[AmericanBit]

Im not sure what to think of a competitor posting in a competitors thread its own advertising and claiming "i can do everything better".

Normally i would have thought that these tents include technique to overview humidity, temperature and other factors so you get informed of bad conditions instantly. Im not sure if the airflow can be measured correctly somehow.

What do you mean with 100USD were needed to safe the whole crop?

Anyway... its a bit strange that you admit errors can happen but blame others when it happens then. Im not in the business so i cant tell what could have been though.

Well first, I wasnt advertising anything. I havent even put everything together yet. But I sure can do better and have for over 5 years in LA, the most competitive marijuana market in the US.

The tents are garbage and for hobby growers like the guys here. They are only good if you need a small airtight space to introduce CO2.

The mildew probably started setting in around week 3 or 4 of flower. It will start off barely noticeable but the spores will soon spread to most of the foliage and slowly inch toward the bud unless you knock it back with something. By week 7 its too late to do anything and you are screwed like these guys.

I admit errors because they are easy to make for amateurs, as I was one once. But I made them on my dime and time, not investors. The part of this IPO that really pisses me off is here

"We are going to be generating revenue by providing consulting services and helping business owners setup their operations. We will advise entrepreneurs in opening and running dispensaries as well as cultivation centers. We will help businesses selling supplies at the wholesale and retail levels. We will work together with these businesses in generating revenue for our services."

The arrogance! These guys obviously cant even grow in a tent and they are going to be advising others on running dispensaries and advising on grows? No one pays for advisors aside from very rare occasions where someone is a proven lifetime grower or has a strong portfolio showing past large scale grows like myself.

Just by the 3 pictures i see multiple things wrong with this grow. The veg leaves are curling and they arent even being topped back so they are tall and lengthy instead of short and bushy which is what you want. Look at all the light being wasted. They could definitely be closer to the canopy too. I just dont see very high dividends out of this grow even with a good run. The growers have to get paid too obviously.

ANd how many watts is it? What are the projections?? I put blame on people who make cryptostocks look bad by not delivering, not to mention the growing profession that I take very seriously. A couple cryptostoners throw a grow together and all the sudden they are the foremost advisors in the field, yet cant even grow their own meds.

If you go public and take peoples hard earned money, make sure you can deliver...thats all im saying. 

[SebastianJu]

I think its easier waiting for cannabit to answer.