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

[kleeck]

I love these updates. You guys are making good progress. Keep it up!

[cannabit]

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.

[lobbes]

Nice updates!

With regards to funds provided to legal marijuana farms and dispensaries, are you providing lines of credit or do you hold equity stake in these ventures?

Are you able to disclose the current amount of capital invested in these ventures?

[jimmothy]

Project looks to be going nicely. But something I think many of us are really interested in is the dividends.

Can we get a rough estimate on when we might expect our first dividend?

[cannabit]

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.

[cannabit]

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.

[naaktslak]

nice thnx 4 the updates.

[phiz0r]

Everything looks pretty tasty. The updates are great, looking forward to the next one.

[junkonator]

Do you update the front page in regards to the size of your company i.e. where you stand, where you want to be in a couple of months etc.?

[cannabit]

Do you update the front page in regards to the size of your company i.e. where you stand, where you want to be in a couple of months etc.?

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.

[floatyfish]

Do you update the front page in regards to the size of your company i.e. where you stand, where you want to be in a couple of months etc.?

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.

Excellent news, now is a great time to invest and take advantage of the low stock cost IMO.

[420btc]

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[coinerjoe]

Hey just curious as to how you like those Solarstorms vs HPS

[cannabit]

Hey just curious as to how you like those Solarstorms vs HPS

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.

[dexX7]

My initial thought was "meh, how can a fiat based operation create nice returns, if the Bitcoin rally continues". Given the fact that the opposite became reality and coins are cheaper now, I guess Cannabit shareholders should be happy?

[SebastianJu]

My initial thought was "meh, how can a fiat based operation create nice returns, if the Bitcoin rally continues". Given the fact that the opposite became reality and coins are cheaper now, I guess Cannabit shareholders should be happy?

For me its a way to be bitcoin and cryptocurrency independent. I mean practically all investments here depend on the bitcoin. In case the bitcoin crashes or they try to forbid it this would be an investment that would still stay alive... i think doing a bit of this risk management is no bad idea.

[twentyseventy]

My initial thought was "meh, how can a fiat based operation create nice returns, if the Bitcoin rally continues". Given the fact that the opposite became reality and coins are cheaper now, I guess Cannabit shareholders should be happy?

For me its a way to be bitcoin and cryptocurrency independent. I mean practically all investments here depend on the bitcoin. In case the bitcoin crashes or they try to forbid it this would be an investment that would still stay alive... i think doing a bit of this risk management is no bad idea.

Assuming that the ventures are profitable, it can be a hedge against a falling BTC/USD rate. It's a good idea to diversify between securities with pure BTC exposure and some with fiat exposure as well.

[cannabit]

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.

[arousedrhino]

The domains (below) are owned by me and are for sale...if interested message me. Thanks.

420bitcoin.com; 420bitcoins.com; cannabitcoin.net; cannabitcoins.com; cannabitcoins.net; cannabitcoin.info; cannabitcoin.org; 420btc.com; cannabish.com; cannabisloving.com; cannabistokers.com; cannabisyabish.com; fumarmarijuana.com; topgradecannabis.com; 420btc-e.com; 420btc.com; cannabish.com; cannabisloving.com; cannabistokers.com; cannabisyabish.com; fumarmarijuana.com; topgradecannabis.com; 420btc-e.com; 420coins.com; 420cryptocurrency.com; cannabisbtc-e.com; cannabiscoinbtc-e.com; cannabiscryptocurrency.com; cannabistokers.com; cannabisyabish.com; fumarmarijuana.com; topgradecannabis.com; 420btc-e.com; 420coins.com; 420cryptocurrency.com; cannabisbtc-e.com; cannabiscoinbtc-e.com; cannabiscryptocurrency.com; cannabisfinancialcorp.com; cannabisthings.com; cannabiswireless.com; cannabtc-e.com; cannacoinbtc-e.com; cannacryptocurrency.com; cannafinancialcorp.com; cannathings.com; cannawireless.com; internetofcannabis.com; cannabistoken.com; cannabistokens.com; 420tokens.com; budtokens.com; weedtokens.com; 420qpon.com; budtoken.com; cannatoken.com; cannatokens.com; nugtoken.com; nugtokens.com; weedtoken.com; 420tokin.com; 420tokins.com; budtokin.com; budtokins.com; cannabistokin.com; cannabistokins.com; cannatokin.com; cannatokins.com; dispensarytoken.com; dispensarytokens.com; medicalmarijuanatoken.com; medicalmarijuanatokens.com; weedtokin.com; weedtokins.com; cannabispark.com; cannabitcoin.com; kanahbis.com; sexycannabis.com; dabtoken.com; dabtokens.com; cannabitcoins.info; cannabitcoins.org

Wow and your not an asshole.

Please don't buy a domain from this guy, if you do he wins and if you don't then he loses out on all the cash he spent to acquire those and doesn't make a profit. Make him lose out on the cash, domain squatters are almost as low on my list as patent squatters.

[cannabit]

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.