Grow Cannabis In Our Warehouses!

The following is pulled from the recent 3/31/16 10-Q of Home Treasure Finders, Inc.


NOTE 5 – LONG-TERM DEBT
On September 15, 2014, the Company entered into a promissory note for $840,000 on the purchase of three warehouse units known as 4420, 4430 and 4440 Garfield Street, Denver, Colorado. The Company is leasing each of the three separate units to licensed third party growers for cannabis cultivation. The terms of the variable interest 25 year amortization note carried by the seller of the property call for payments to seller as follows:

1. First and Second year interest rate at 7% with 25 year amortization payment at $5,937 per month.

2. Third and Fourth year at 8% with 25 year amortization payment at $6,278 per month.

3. Fifth year at 9% with 25 year amortization payment at $6,640 per month.

4. Balloon payment of $777,255 due at end of the fifth year.

The note to seller is secured by the three warehouse units.

As of March 31, 2016, the balance of the note was $821,525.

Home Treasure Finders, Inc. was formed on July 28, 2008. The founder, sole director and officer of our company is Corey Wiegand. On March 3, 2014 we formed a wholly owned subsidiary, HMTF Cannabis Holdings, Inc. to purchase properties that qualify for legal cultivation of cannabis.

Our net income for the three months ended March 31, 2016 was $5,267. We generated operating revenue from three sources, sales commissions, property management, and commercial real estate for legal cannabis cultivation. We manage approximately 60 rental real estate owned by non-related third parties. In comparison our net loss for the three months ended March 31, 2015 was $26,542.

The business plan of our subsidiary, HMTF Cannabis Holdings, Inc. is capital intensive and requires that we raise significant additional capital to acquire and improve real estate. We are negotiating with various sources for an equity infusion to match our long term capital needs.

Disclosure: I have no shares in any firm mentioned in this post. You can see my portfolio as of the middle last month here. I'm not a very active trader.