LOS ANGELES, CA / ACCESSWIRE / May 4, 2016 /Notis Global, Inc. (OTCQB: NGBL), a pioneer in the worldwide hemp and cannabidiol (CBD) oil industry, today issued a press release regarding progress on its "Farm" in Colorado.
2016 has been a pivotal year for Notis Global. Through Notis Global's subsidiary EWSD I, LLC ("EWSD"), and its partner Folium Biosciences, one of the nation's leading growers and processors of hemp products, based in Colorado Springs, Colorado, the Company has made significant progress towards creating its first crop of the highest quality hemp for hemp oil production.
Throughout the winter and spring the managers and the employees of the Farm have constructed new or rehabilitated the existing farmhouse office and greenhouse structures on our land in Pueblo Colorado including grading the land and erecting security fences along with upgrading wells and piping for water. State of the art temperature, circulation and humidity controls along with appropriate drainage have all been installed and are operational in 36,000 square feet of greenhouses according to Jeff Goh President and CEO. See a recently updated video https://www.youtube.com/watch?v=ouDXJHZHqJc.
The primary function of the greenhouses is to grow "mother plants" which are then cloned and grown as genetically identical plants which are cultivated into an exceptional product. The cloned plants have grown and will continue to grow very quickly in the Farm's superior conditions. "While the weather is still cool in Colorado it is getting much warmer and we expect to begin planting on May 15th according to SVP of Operations, Clint Pyatt.
Notis Global has the knowledge and unique expertise to create a truly world-class operation with our partners growing crops and manufacturing products from hemp farmland and to market, sell and distribute CBD oil.
About Notis Global
Based in Los Angeles, Notis Global is a pioneer in the burgeoning, multi-billion dollar legal hemp industry. The Company and its partners are working to grow confidence and generate revenues in the hemp industry. Through our key partnership with Folium Biosciences, one of the largest hemp operations in the U.S., Notis is a leading provider and distributor of cannabidiol (CBD). For more information on the Company, please visit http://NotisGlobal.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "aim," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend," "goal," "strive," or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), and including not limited to Risk Factors relating reflected in the Company's Annual Report on Form 10-K filed with the Commission on April 13, 2016. Thus, actual results could be materially different. We advise you review our Annual Report and the Risk Factors set forth therein. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. Our audited financial statements for the year ended December 31, 2015, were prepared under the assumption that we would continue our operations as a going concern. Our independent registered public accounting firm has included a "going concern" explanatory paragraph in its report on our financial statements for the year ended December 31, 2015, indicating that we have sustained substantial losses from continuing operations and have used, rather than provided, cash in our continuing operations, and that these factors raise substantial doubt about our ability to continue as a going concern.
Continued operations and our ability to continue as a going concern are dependent on our ability to obtain additional funding in the near future and thereafter, and there are no assurances that such funding will be available at all or will be available in sufficient amounts or on reasonable terms. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty. Uncertainty concerning our ability to continue as a going concern may hinder our ability to obtain future financing. Without additional funds from generation of revenues through execution of our business plan, debt or equity financings, sales of assets, or other transactions, we will exhaust our resources and will be unable to continue operations. If we cannot continue as a viable entity, our stockholders would likely lose most or all of their investment in us. See Liquidity and Capital Resources under Item 7. Management's Discussion and Analysis in our Annual Report on Form 10-K for further information regarding the Company's efforts to secure liquidity and future cash flows. The Company has granted to an investor a lien against its equity interests in EWSD and its other assets as security for repayment of a note in the amount of approximately $225,000 and retains the right to pledge all or any part of its real or personal property to secure Company's indebtedness in its sole discretion. If the Company is unable to meet the obligation that gave rise to this lien or to future liens on such stock and assets, it may default on such obligation or on future obligations and its lenders could foreclose upon, or cause the sale of, the Company's ownership of EWSD.
SOURCE: Notis Global, Inc.