Ahrek, Bill is going to shove your ridiculous conc

Quote:

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Ahrek, Bill is going to shove your ridiculous conclusions right down your throat. Mark my words.

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https://www.sec.gov/Archives/edgar/data/16538...31_10k.htm

On September 12, 2016, the Company completed the transaction to acquire assets, including patented Cold LED Lighting Technology, from Tesla Digital, Inc. (A Canadian Corporation) and Stevan (Steve) Pokrajac.



The material consideration given by Company includes:

(a)3,125,000 shares of Cen Biotech stock. The issuance is to be completed, at the Company discretion, within no more than 180 days from the closing date.

(b)


The transfer of real properties located at 135 North Rear Road having a book value of $2,161,467 USD and 1517-1525 Ridge Road having a purchase cost (including other related disbursements) to the Company of approximately $182,488.


The Company’s fixed assets consist of the following: a property at 135 North Rear Road, and leasehold improvements at 20 North Rear Road. The company paid $1,064,651 in order to buy 135 North Rear Road, which is intended to serve as an office and an experimental growing space for the Company. This amount was capitalized as an asset in the balance sheet called “land.” All of these assets were acquired during 2014. In September 2016, the property at 135 North Rear Road was included in the deal to acquire a technology patent – see Note 12 for details.



The Company leases 20 North Rear Road from a cousin of Mr. Chaaban, the Company’s President (see note . Over the course of 2014, the Company constructed improvements to this property, including structures and equipment for growing marijuana, security fencing required for licensing as a marijuana producer, and other infrastructure. According to the terms of the lease, the owner of the property will retain possession of any immovable improvements upon the termination of the lease, but the Company believes it can realize the value of these assets once it begins operations. The Company also believes renewal of the lease is likely, but this cannot be guaranteed (see Note 8 for more on the lease).

Leasehold improvements $ 6,105,711
Accumulated impairment $4,835,596
Net Leasehold Improvements $1,270,115