California - the real factsMGW doesn't actually get revenue from selling MJ. TheY only get a monthly consulting fee and rental fee for the land and cold frames. So, reality is they are landlords (on a piece of property that they put $15K down and haven't even paid for yet as they are carrying the balance until 2020)
Don't get too excited about this. MGW hasn't acutally even received any money yet. They have NOT been paid for anything on the California operations. Emerald - the cooperative has yet to pay.
From the year end financials of December 31, 2016 - Note 12
During the year ended December 31, 2016, the Company generated leasing fees of $119,232 and consulting fees of $99,360. As at December 31, 2016, other receivables includes $250,486 due from Emerald.
SMOKE AND MIRRORS