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

[perlboy]

I think its easier waiting for cannabit to answer.

What, with "divs coming soon"?

Bitcoin tanks which would make any divs quite high for the long termers, been sitting around waiting since IPO, they f**k up the crop, supposedly salvage it into oil now they are scrapping the whole lot. Meanwhile the price has tanked and the share holders are sitting holding (or maybe licking) the bag...

Seriously, "green rush"? The only green that's happened here is someone IPO'd something then strung the people they scammed for months. I bet they've cashed it out to $$ bought their kit, produced some buds then on the one crop they fucked up came back here and said "oh no, it's all broken".

Oh, and don't even get me started on their IRC channel, it's been essentially empty for months, not a single update, not a single OP.

I'm calling scam and glad I wasn't stupid enough to throw in money I couldn't afford to lose.

To the OP, produce results, we're sick of waiting. Your IPO statement said "expected to start being paid out in Jan/Feb 2014", it's now over a month from your timeline and.. nothing...

[nwfella]

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

[lynn_402]

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

I believe they cashed out their BTC when its value was twice what it is today. That's a considerable advantage that probably outweight their mold issue, if they don't have another major problem soon. And if they are legit, of course.

[AmericanBit]

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

Well its not necessarily a scam, but yes I was thinking the same thing. They cashed out that bitcoin at the top and they took in roughly 100 btcs. From the pictures ive seen, looks like 8k in growing equipment at the very most. They should have a lot of extra money and they should be paying dividends out of that in the very least. But there is no profits in that amateur tent grow.

Everyone should know the wattage and the plant count at least. I havent read about any of that unless I missed something. I think I see about 8000 watts of flower power. 

P.S. Those LED, red blue yellow spectrums are garbage. Go HPS or go home...how many grows do you see under those BS noob lights...none

[cannabit]

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

Well its not necessarily a scam, but yes I was thinking the same thing. They cashed out that bitcoin at the top and they took in roughly 100 btcs. From the pictures ive seen, looks like 8k in growing equipment at the very most. They should have a lot of extra money and they should be paying dividends out of that in the very least. But there is no profits in that amateur tent grow.

Everyone should know the wattage and the plant count at least. I havent read about any of that unless I missed something. I think I see about 8000 watts of flower power.  

P.S. Those LED, red blue yellow spectrums are garbage. Go HPS or go home...how many grows do you see under those BS noob lights...none

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

[cannabit]

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.

[lynn_402]

The products look delicious..
Thank you for coming in to defend your project from the basher.
And one question: will the profits made from selling the products in the pictures be included in the dividends?

I'm confused because cultivation and sale of cannabis is not included in your plan:
"Our focus is to not directly get involved in cultivating and distributing the actual product."

[Kushedout]

Thanks for the update. The product also looks good and delicious.

Also, I am guessing the ones complaining are not invested in Cannabit and the ones that are, don't know the risks involved when they invested.  This is not ASICS people. There is no set tape-out date,  board assembly date, etc, etc.  Nature is not predictable, things can happen, they might have bad harvest one day and better than expected the next. So unless you have a helpful advice,  I suggest you don't say anything at all, specially along the lines of baseless scam accusation. Also, the shares are still being traded, so if you don't like where this is going you're more than welcome to dump your shares and go invest in some ASICs that will never ROI.

[AmericanBit]

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

Well its not necessarily a scam, but yes I was thinking the same thing. They cashed out that bitcoin at the top and they took in roughly 100 btcs. From the pictures ive seen, looks like 8k in growing equipment at the very most. They should have a lot of extra money and they should be paying dividends out of that in the very least. But there is no profits in that amateur tent grow.

Everyone should know the wattage and the plant count at least. I havent read about any of that unless I missed something. I think I see about 8000 watts of flower power.  

P.S. Those LED, red blue yellow spectrums are garbage. Go HPS or go home...how many grows do you see under those BS noob lights...none

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

No one is bashing your thread. Its just incredibly irresponsible to claim you will be advising other entrepreneurs on grows and you dont really know how to grow yourselves. And like the other commenter mentioned, in the IPO it says you wont be cultivating your own. So you have 24ooo watts + some LEDs, and what are your plant numbers? How many can you legally have? These are the questions investors want to know...

[cannabit]

No one is bashing your thread. Its just incredibly irresponsible to claim you will be advising other entrepreneurs on grows and you dont really know how to grow yourselves. And like the other commenter mentioned, in the IPO it says you wont be cultivating your own. So you have 24ooo watts + some LEDs, and what are your plant numbers? How many can you legally have? These are the questions investors want to know...

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.

[lynn_402]

No one is bashing your thread. Its just incredibly irresponsible to claim you will be advising other entrepreneurs on grows and you dont really know how to grow yourselves. And like the other commenter mentioned, in the IPO it says you wont be cultivating your own. So you have 24ooo watts + some LEDs, and what are your plant numbers? How many can you legally have? These are the questions investors want to know...

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.

So the pictures you post are from the garden you invested in, and thus the profit from these sales will be included in the dividend?
Just want to make sure. Thanks.

[AmericanBit]

No one is bashing your thread. Its just incredibly irresponsible to claim you will be advising other entrepreneurs on grows and you dont really know how to grow yourselves. And like the other commenter mentioned, in the IPO it says you wont be cultivating your own. So you have 24ooo watts + some LEDs, and what are your plant numbers? How many can you legally have? These are the questions investors want to know...

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.

Well, then you should really tell how much you have invested in each one and give more updates. Thats a lot more hands in the honey pot and its a shady business already. Ill check out your PM...missed it

[vm_mpn]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

[SebastianJu]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

[vm_mpn]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

I most likely did... Would you enlighten me please?

[cannabit]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

I most likely did... Would you enlighten me please?

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.

[cannabit]

Well, then you should really tell how much you have invested in each one and give more updates. Thats a lot more hands in the honey pot and its a shady business already. Ill check out your PM...missed it

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

[vm_mpn]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

I most likely did... Would you enlighten me please?

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.

Oh, my bad... have not realized you guys are in WA... From the construction photo a while back it looked like you were adopting dark and humid WWW II underground bunker. Definitely get a few shares.

[cannabit]

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

I most likely did... Would you enlighten me please?

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.

Oh, my bad... have not realized you guys are in WA... From the construction photo a while back it looked like you were adopting dark and humid WWW II underground bunker. Definitely get a few shares.

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

[floatyfish]

Hate to be a dick like this but when can investors expect the first dividends? It seems the first batch went down the tubes since the wax seems to have not moved, and now this batch seems to be going steady (which is good). So if this batch goes according to plan, should we expect something in Mid-May/early June?