FITX Opinions 08/31/2014 07:25:21 $FITX
There is a lot open for interpretation. In my town we can make laws, etc. but they don't override state or federal laws. That is why businesses that open a dispensary in the US are open to prosecution by the Federal government. This is a new area and very sticky. This is why big companies are not jumping in to markets that have made pot legal in the us. Lakeshore knows it will be sued if they try to put the brakes on building 1. They knew that FITX put up the building with the intent of growing MJ. They had all the plans for the fence, security system, etc.
This is similar to what happen to Rich Harris who has the show Pawn stars. He won the Vegas lottery to get a pawn license and when he went to get the license they tried to change the law at the last minute and after he won the lottery. He sued and won. The story is that officials were looking for a kick back and he wasn't paying so they weren't going to give him the license. Not saying the town is looking for payola but they can't change the rules in the 9th inning without putting themselves in jeopardy.
They definitely want to and need to otherwise these businesses can just pop up without any regulations
This happens everywhere. In the US once a state legalizes mmj entrepreneurs obtain regular retail business licenses and open up.
Then after a bunch of these businesses are already open and operating the town usually realizes oh man we gotta do something about these places and develop some rules regulation and zoning requirements.
The town passes laws , existing businesses are grandfathered and the new ones have to abide by the towns new rules. These new rules can be zoning requirements mmj business license etc
FITX Stock Message Board http://investorshangout.com/Creative-Edge-Nut...ITX-63675/
I'm long and have heard all the meetings. I believe the town wants to create laws for medical MJ facilities. However, HC deems MJ as agricultural and I believe this ties the hands of the town for building 1. However, on building 2 that is a production and research facility. I'm not sure if the new laws would effect that operation. However, if you do a Google map search of the address for both sites you will see that it's pretty wide open area with only a few farms scattered about. It's not like they are putting the facility on main street.
Can you please let Mr. Foran and Mr. Bain, the mayor know. I am sure they would appreciate knowing they do not have a clue as town officials. They might even name a street after you.
I watched them as well. Some of the applicants are going to be approved. Since there are several applicants, and no one knows when any of them applied, nor does Bill since it is confidential information, it is difficult to determine who gets approved. CEN is the only one who boasted of having received all municipal approvals. Can you name any other applicant for the town of Lakeshore? There was one company who turned down the site #1 because of the value added designation and the fact that previous attempts to have site #1 rezoned resulted in failure.
Look, I want this to succeed but the issue I have is with the pronouncements made by investors and others about what was approved or not approved. I went to the source and got a very different answer. As Mr. Foran stated to me, and which I posted here last March, they had yet to receive any official notification from CEN about a medical mj grow op, and what they were hearing they were reading in the press. Mr. Foran does not even know if the town could provide the necessary uitility infrastructure for the "worlds largest medical mj facility" because the company had yet to tell them just how big it was going to be, what they would require for water and power and so on. It was all hearsay from the perspective of the town.
So not knowing who else has applied nor how large those facilities might be, can only lead to speculation.
I believe that FITX has made some awesome alliances. Time will tell if they execute. Right now we are in the early stages of building this company into a MJ powerhouse. If after 6 months we are still waiting for a license and nothing is happening then you were right. However, they have come through with the land and buildings so I feel confident that they are making strides. I do understand your doubt. In the end this is a penny stock with little revenues but incredible potential in a new, explosive market. The brass ring is there.
Again everything was discussed at the town meeting. It's clear as day grandfathered
If they do rezoning that would only effect businesses that are not already operating or pulled correct permits. It would only effect new businesses
Fitx already pulled all correct permits for agricultural facility which means grandfathered in. Doesn't matter if they grow tomatoes corn marijuana or soybeans
The only permits they have pulled are construction permits. The construction permits are in the name of Jim Shaaban (I checked) for site #1. They have no permits for site #1 grow op at all since they are in a value added zone. To use more than 6000 square feet of process space they have applied for a zoning amendment. It does not matter what HC deems anything. Their interpreations do not take precedence over local regulations. They would prefer to have grow ops in agricultural zones but nothing says they must be. The rule of law is on the side of the municipality and it clearly states all applicants must abide by local zoning by laws.
CEN has applied for a zoning amendment for site #1. They have notified the town of their intention to seek a license for site #2 but as of last July, have not filed a zoning amendment application with the town which Mr. Foran says they will be required to do.
The permits for the building state "agricultural storage", nothing else. That is the end use given on the building permit.
The town does want this but as Mr. Foran stated publicly and in private correspondence, it is not a huge tax windfall for the town. The town needs to determine if they can provide the necessary water and electrical requirements but until they receive final requirments from the applicants, they cannot make that determination. So there is much to be be done, and it will get done. It is just a matter of time. The town recognizes this is not going to go away but with several applicants asking the town for permission to locate there, who knows which way the pendulem will swing on all of the applications.
Correct
I watched all council meetings they even brought it up at the meetings and discussed the issue
They could push for re-zoning to industrial which would cost FITX more money in taxes. I think that would be the worst case scenario.
I don't think the town is going to do anything stupid. However, they want to understand what a MJ facility is all about. The fence, the vault, fumes, security, etc. They are all valid concerns. Right now FITX has pulled all the correct permits and are ready and waiting to grow. HC deems medical MJ crops as agricultural. That is what one of the board members stated to the board at one of the meetings. She called HC to get more info. I gathered that they weren't that helpful. She also contacted other places that have dealt with these issues. The town must take that into account and can't supersede their government's laws. The town lawyer said this themselves. They want the tax revenue and jobs but they also want to make their supporters happy too.
Not according to the mayor and the CAO. You might be best advised to take it up with them. You are talking of Canadian law, and the Ontario Municipal Board must sign off.
Good question. I have no idea. They may have invented a game changing product but it needs to be marketed. Sales reps. need to call on building supply companies and setup visual demos of the product along with education for the sales team. They also need to go to every tradeshow possible that is relevant. I would love to see the big box stores carry some of their products. I believe they sell the raw materials that can be formed into walls, etc. It would be cool if they started to produce bricks and other cement products with the hemp. 10 states have already passed laws enabling hemp cultivation, though federal law has kept those efforts from moving forward. These states are Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia – some of which are preempting the farm bill’s passage by beginning to draft rules and regulations to govern hemp production.
Again if there was legislation there would be no need to be grandfathered lol
But since there isn't they've pulled permits for agriculture which it falls under. Then when legislation is past all current businesses operating already are grandfathered in and all new businesses have to abide by the new legislation
The key is there is no current legislation upon which to grandfather anyone in. And if site #1 is not part of the new medical mj plan, they will have to apply for a zoning amendment because of the processing size restrictions at site #1
It clearly states in the proposal about site specific applications so site #1 could fall under that.
Another article. Hempcrete is really an amazing product. The more I read about it the more I see how truly revolutionary this product is. We may be overlooking the Hemp play. It actually could be a huge homerun for FITX. I hope they take it to every building trade show. http://www.collective-evolution.com/2013/02/0...-material/
Really cause this grandfathered issue has played out in the US hundreds of times already
This is what the term grandfathered means.
Pre ICO LA dispensaries
There is a lot open for interpretation. In my town we can make laws, etc. but they don't override state or federal laws. That is why businesses that open a dispensary in the US are open to prosecution by the Federal government. This is a new area and very sticky. This is why big companies are not jumping in to markets that have made pot legal in the us. Lakeshore knows it will be sued if they try to put the brakes on building 1. They knew that FITX put up the building with the intent of growing MJ. They had all the plans for the fence, security system, etc.
This is similar to what happen to Rich Harris who has the show Pawn stars. He won the Vegas lottery to get a pawn license and when he went to get the license they tried to change the law at the last minute and after he won the lottery. He sued and won. The story is that officials were looking for a kick back and he wasn't paying so they weren't going to give him the license. Not saying the town is looking for payola but they can't change the rules in the 9th inning without putting themselves in jeopardy.
They definitely want to and need to otherwise these businesses can just pop up without any regulations
This happens everywhere. In the US once a state legalizes mmj entrepreneurs obtain regular retail business licenses and open up.
Then after a bunch of these businesses are already open and operating the town usually realizes oh man we gotta do something about these places and develop some rules regulation and zoning requirements.
The town passes laws , existing businesses are grandfathered and the new ones have to abide by the towns new rules. These new rules can be zoning requirements mmj business license etc
FITX Stock Message Board http://investorshangout.com/Creative-Edge-Nut...ITX-63675/
I'm long and have heard all the meetings. I believe the town wants to create laws for medical MJ facilities. However, HC deems MJ as agricultural and I believe this ties the hands of the town for building 1. However, on building 2 that is a production and research facility. I'm not sure if the new laws would effect that operation. However, if you do a Google map search of the address for both sites you will see that it's pretty wide open area with only a few farms scattered about. It's not like they are putting the facility on main street.
Can you please let Mr. Foran and Mr. Bain, the mayor know. I am sure they would appreciate knowing they do not have a clue as town officials. They might even name a street after you.
I watched them as well. Some of the applicants are going to be approved. Since there are several applicants, and no one knows when any of them applied, nor does Bill since it is confidential information, it is difficult to determine who gets approved. CEN is the only one who boasted of having received all municipal approvals. Can you name any other applicant for the town of Lakeshore? There was one company who turned down the site #1 because of the value added designation and the fact that previous attempts to have site #1 rezoned resulted in failure.
Look, I want this to succeed but the issue I have is with the pronouncements made by investors and others about what was approved or not approved. I went to the source and got a very different answer. As Mr. Foran stated to me, and which I posted here last March, they had yet to receive any official notification from CEN about a medical mj grow op, and what they were hearing they were reading in the press. Mr. Foran does not even know if the town could provide the necessary uitility infrastructure for the "worlds largest medical mj facility" because the company had yet to tell them just how big it was going to be, what they would require for water and power and so on. It was all hearsay from the perspective of the town.
So not knowing who else has applied nor how large those facilities might be, can only lead to speculation.
I believe that FITX has made some awesome alliances. Time will tell if they execute. Right now we are in the early stages of building this company into a MJ powerhouse. If after 6 months we are still waiting for a license and nothing is happening then you were right. However, they have come through with the land and buildings so I feel confident that they are making strides. I do understand your doubt. In the end this is a penny stock with little revenues but incredible potential in a new, explosive market. The brass ring is there.
Again everything was discussed at the town meeting. It's clear as day grandfathered
If they do rezoning that would only effect businesses that are not already operating or pulled correct permits. It would only effect new businesses
Fitx already pulled all correct permits for agricultural facility which means grandfathered in. Doesn't matter if they grow tomatoes corn marijuana or soybeans
The only permits they have pulled are construction permits. The construction permits are in the name of Jim Shaaban (I checked) for site #1. They have no permits for site #1 grow op at all since they are in a value added zone. To use more than 6000 square feet of process space they have applied for a zoning amendment. It does not matter what HC deems anything. Their interpreations do not take precedence over local regulations. They would prefer to have grow ops in agricultural zones but nothing says they must be. The rule of law is on the side of the municipality and it clearly states all applicants must abide by local zoning by laws.
CEN has applied for a zoning amendment for site #1. They have notified the town of their intention to seek a license for site #2 but as of last July, have not filed a zoning amendment application with the town which Mr. Foran says they will be required to do.
The permits for the building state "agricultural storage", nothing else. That is the end use given on the building permit.
The town does want this but as Mr. Foran stated publicly and in private correspondence, it is not a huge tax windfall for the town. The town needs to determine if they can provide the necessary water and electrical requirements but until they receive final requirments from the applicants, they cannot make that determination. So there is much to be be done, and it will get done. It is just a matter of time. The town recognizes this is not going to go away but with several applicants asking the town for permission to locate there, who knows which way the pendulem will swing on all of the applications.
Correct
I watched all council meetings they even brought it up at the meetings and discussed the issue
They could push for re-zoning to industrial which would cost FITX more money in taxes. I think that would be the worst case scenario.
I don't think the town is going to do anything stupid. However, they want to understand what a MJ facility is all about. The fence, the vault, fumes, security, etc. They are all valid concerns. Right now FITX has pulled all the correct permits and are ready and waiting to grow. HC deems medical MJ crops as agricultural. That is what one of the board members stated to the board at one of the meetings. She called HC to get more info. I gathered that they weren't that helpful. She also contacted other places that have dealt with these issues. The town must take that into account and can't supersede their government's laws. The town lawyer said this themselves. They want the tax revenue and jobs but they also want to make their supporters happy too.
Not according to the mayor and the CAO. You might be best advised to take it up with them. You are talking of Canadian law, and the Ontario Municipal Board must sign off.
Good question. I have no idea. They may have invented a game changing product but it needs to be marketed. Sales reps. need to call on building supply companies and setup visual demos of the product along with education for the sales team. They also need to go to every tradeshow possible that is relevant. I would love to see the big box stores carry some of their products. I believe they sell the raw materials that can be formed into walls, etc. It would be cool if they started to produce bricks and other cement products with the hemp. 10 states have already passed laws enabling hemp cultivation, though federal law has kept those efforts from moving forward. These states are Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia – some of which are preempting the farm bill’s passage by beginning to draft rules and regulations to govern hemp production.
Again if there was legislation there would be no need to be grandfathered lol
But since there isn't they've pulled permits for agriculture which it falls under. Then when legislation is past all current businesses operating already are grandfathered in and all new businesses have to abide by the new legislation
The key is there is no current legislation upon which to grandfather anyone in. And if site #1 is not part of the new medical mj plan, they will have to apply for a zoning amendment because of the processing size restrictions at site #1
It clearly states in the proposal about site specific applications so site #1 could fall under that.
Another article. Hempcrete is really an amazing product. The more I read about it the more I see how truly revolutionary this product is. We may be overlooking the Hemp play. It actually could be a huge homerun for FITX. I hope they take it to every building trade show. http://www.collective-evolution.com/2013/02/0...-material/
Really cause this grandfathered issue has played out in the US hundreds of times already
This is what the term grandfathered means.
Pre ICO LA dispensaries
