...and the ball keeps rolling!MD&A + Financials also released on SEDAR today!
The numbers look excellent and the best part is the operational update... everything is moving forward as expected.
- The first commercial cannabis CO2 grow trials have finished with bud analysis at an accredited Health Canada lab in process. A Health Canada response from the Pesticide Management Regulatory Agency (PMRA) was press released in May 2018 that concluded the Company's CO2 gas and water-mixing technology did not produce a product that falls under the PMRA jurisdiction of pesticides, herbicides, insecticides and fungicides.
- A filing to the Canadian Food Inspection Agency was completed in late May 2018 for an anticipated mid-Q3 response on whether the Company's CO2 gas and water-mixing technology creates a fertilizer product or an additive to water that falls under the Fertilizer Act.
- The Company anticipates that if it receives a CFIA conclusion that its technology does not produce either a fertilizer or an additive to waterthat it may be granted final approval for use by Canadian cannabis LPs.
- As of June 30, 2018, there were five clusters of CO2 grow trials underway in cannabis, lettuce, micro greens, flowers and peppers. The Company's replication of the 2013 University of Guelph's successful lettuce-grow trials of 33% and 100% additional biomass advanced with results expected in Q3 2018. Two scientific studies at St Cloud State using CO2 foliar spray concluded 400% more chlorophyll and 800% more CO2 conductance (transfer).
- As of June 20, 2018, the Company had 19 CO2-grow trial reps reporting to the Company’s VP of Operations. All sales reps remain on zero retainers with 100% commissions paid only upon commercial installations of dissolving CO2 equipment. Three new support people were retained for additional communications efforts by the Company's VP Business Development, project engineering designing commercial installations and further support for client CO2 grow trials.