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OrgHarvest Inc. (OTC PINK: ORGH) |
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October 1, 2018 Issue |
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CEOCFO MAGAZINE |
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Q&A with Frank J. Celecia, Chairman and CEO of OrgHarvest Inc. Cultivating Organic Cannabis in Southern Nevada for Wholesale use for Dispensaries in the Las Vegas Market |
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Chairman & Chief Executive Officer
OrgHarvest Inc. (OTC PINK: ORGH)
Contact: Frank Celecia 310-460-8426
Marc Adesso attorney 615.850.8063 marc.adesso@wallerlaw.com Mr. Adesso was quoted as saying: “Our associates’ research has indicated that this is the first time in history that the SEC has qualified such a document filed by an issuer engaged in the cultivation of cannabis with no comments!”
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – October 1, 2018
CEOCFO: Mr. Celecia, what is idea behind OrgHarvest, Inc? Mr. Celecia: OrgHarvest is a company that is going to be cultivating cannabis in the Las Vegas area. It will be for wholesale use to some fifty two dispensaries in the Las Vegas market. This is actually the one year anniversary of Nevada regulating recreational marijuana, so it is a pretty exciting time for us. We think that we are in the epicenter area of Las Vegas with so much tourism. Some forty five million people come into this state and they come into Las Vegas, usually from states that do not have recreational marijuana available to them.
CEOCFO: Would you tell us a little bit about the property and why it is good for growing marijuana?
CEOCFO: Would you tell us about the greenhouse? What sets it apart from the other methods of growing? Mr. Celecia: First of all, we are going to the inventor of growing fruit, vegetables, and ornamental flowers in the Netherlands in a greenhouse. That is where everything really started. Using glass greenhouses and the technology in the glass panels is allowing certain light to go through this particular glass which creates a great growing environment. In addition there are automatic feeders which can be programmed for watering and fertilizing. The use of rolling tables is a very good way to utilize space in the greenhouse, and cut down the cost of labor. Having these plants on tables which roll and collapse results in less walkway and more growing space. Let us say that you have six or seven feeding cycles, all you have to do is set your program cycle. There are tanks that the feeders pull from and it eliminates all hand watering and feeding.
CEOCFO: What did you look at to know this was the most effective method?
CEOCFO: What are the regulatory concerns? What is the regulatory atmosphere for growers today? Is it clear cut or like so many other places seems to be a moving target? Mr. Celecia: That is an excellent question! This operation is going to take ten million dollars to put up, so we want to make sure that our shareholders are protected. I do not think there is a better place than the state of Nevada for that kind of protection. The state is used to regulating business like sports betting, gambling casinos and prostitution. In addition, the state is getting more friendly for banking operations. The state is approving places to actually consume cannabis where you can go in and smoke in a lounge. It is forbidden to smoke in the casinos, so people are having problems lighting up. They cannot smoke in the hotels either, but people end up smoking illegally in the hotel rooms anyway. However, to answer your question, Nevada is probably the best state for a regulatory body to protect the environment of cannabis.
CEOCFO: What are the plans after you grow it? Mr. Celecia: We have a choice. We have a very scheduled kind of growing where we rotate crops every week we cultivate. The cultivation every week would be 450 pounds of flower from our high tech greenhouse. Right now the market is very strong and high in demand. If we cannot sell four hundred and fifty pounds weekly into the market we can convert those pounds to cannabis oil for the production of edibles. Therefore, we have quite a bit of flexibility. Right now the market is going about twenty two hundred dollars a pound in the marketplace. Our projection for the first year is about fifteen hundred dollars. We dropped that down to fourteen hundred. However, greenhouse growing is not as intensive financially as if you were to grow indoors. You have lots of power consumption indoors. You are controlling the environment completely. Here, we are taking a very natural approach by growing outdoors in the greenhouse, but the outdoor environment would be closed or it would be closed to the environment, so that the greenhouse itself would not put out any odors.
CEOCFO: Are your potential customers paying attention to how something is grown? Are they understanding, in general, of the various ways or is it a learning curve for everyone in the industry right now? Mr. Celecia: I think there is a huge curiosity, especially for older seniors. It seems like there are more seniors using cannabis for pain. I read recently where about sixty three percent of cannabis users are senior citizens. I think that the education process is ongoing. If people do visit a dispensary I think they will be pleasantly surprised at how well educated most of these people are that serve either for medicinal or for recreational use. As a matter of fact I had a conversation with an older woman yesterday who had extreme pain in her neck. She must have been in her late seventies and was curious about it and asked me what I thought. I said she should stop by the dispensary and cure her curiosity. She took me up on that. She actually went in. She was a little apprehensive, but she was pleasantly surprised! They guided her choices, because there are certain strains of cannabis that are used for medicinal use and other strains for recreational.
CEOCFO: What, if anything, has changed in your approach since you started with this venture? Mr. Celecia: We are ready to file with the Securities and Exchange Commission a REG A plus offering (as part of the Jobs Act), so that we can raise the capital that is necessary to grow and cultivate a large operation as I have described. It is going to be somewhere in the $10 million dollar range. We are about to file with the Securities and Exchange or REG A plus offering for $20 million dollars.
CEOCFO: How does Org Harvest standout from the crowd? There are so many companies in some form of the cannabis field today. How do people know you are real and a company worthy of attention? Mr. Celecia: OrgHarvest will produce a very high quality of cannabis using the technology I have described. The cost for growing in a glass greenhouse is less expensive than indoor growing. Personally, I have been in four or five startups that I bootstrapped from startup to operating businesses. For several years I ran a very large and successful post production company in the TV industry and brought that to the NASAQ Exchange. I am a business person, and we have very strong knowledgeable individuals in the cannabis industry that will run the day to day operations. One of the things that I did set out and state is that we wanted to make sure we were one hundred percent organic or as close to it as we could possibly be for cultivation. We have the choice of servicing the dispensaries with the cannabis flower or we can turn around and convert that to cannabis oil depending on demand. Cannabis oil is used for various edibles; cookies, gummies, chocolate, etc. More and more people are starting to realize the benefit of this wonder drug.
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“The cultivation every week would be 450 pounds of flower from our high tech greenhouse”- Frank J. Celecia
OrgHarvest Inc. (OTC PINK: ORGH)
Contact: Frank Celecia 310-460-8426
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Frank
J. Celecia
Mr.
Celecia: 
Mr.
Celecia: