Processing lab all in for 300k in Michigan.
My experience in doing it has me 
One thing noone has mentioned is
" * Michigan will accept adult-use applications only from licensed medical marijuana businesses for up to two years. The state can make an exception to this and offer licenses to other applicants if it is determined that more businesses are needed to ensure adequate supply and access in rural areas or to counter the black market."
Care to elaborate? (No skin in the game here)
Juicero raised over $110 million and had a valuation of over 1 billion at one point before going dramatically belly up, a funny story for those who donāt know it. I think $1 MM is a fair valuation for a solid team with good connections in a new rec market. However, for someone is begging on random websites I think the spdkingās offer is generous and theyād be stupid to turn it down. The discount on equipment alone is savagely valuable
What does this have to do with anything?
OP stated he is trying to raise capital for a āRecreational marijuana processing company in Michiganā
Michigan will only accept recreational applications for the first two years from licensed medical marijuana businesses.
Whether the OP knows this yet, any investor certainly should, and I will bet the farm that OP is not a licensed medical marijuana business.
Sorry I didnāt see where he said recreational.
Like I said earlier MI has certain capital requirements , part of that being liquid. 300k will get you no where. OP hasnāt done much research.
I mean I have a lab in Orlando that we are building. Iāve personally been a lab director for 4 years. Hiring a lab director to be under me so I can focus on contracts. Every tech will have 3-4 years in ethanol extraction and distillation. We have 500k in personal financing. My connections for cheap machines, and established connections for establishing distribution contracts. We probably will need 300k more of financing still and I probably wonāt give more then 10% for it if I canāt just get it as a loan with 20% returns. So 300k for 70% is simultaneously an insult to them meaning basically they bring no value essentially, and a waste of Elliotās cash because they will fail because his own evaluation shows they have no value. But only owning 30% is the company basically defeats the purpose of starting a company unless he allows them to buy him out for like 600k. But either way itās all kind of pointless. 300k wonāt get you rly anywhere in the marijuana space and on top of that you need lots of experience and connections to rly make it in this game unless your compensating with mountains of cash.
300kā¦ you can have my 100% of my businessā¦lol my lab. My contacts ā¦ heāll Iāll even throw in the company catā¦ maybe not the catā¦ heās cool afā¦
Maine had a residency stipulationā¦ not sure if thatās still in playā¦ I have been in good standing with for them for 3 years going on 4ā¦
There seems to be a ritual around asking for money, investors have a certain culture and language, for some reason they often seem quite fixated on $ seekers speaking their language, creating power points precisely to their specificationsā¦most companies claim to have a unique process but are doing the same as all othersā¦a lot of the investors in this sector seem to have limited knowledge about how things actually work, they just know its hotā¦a lot of the investment world seems to run on stories, hope, and mythology, including some of the largest dealsā¦ultimately they all seem to want something they can keep pitching to othersā¦
Better to have some convertible senior note if you arenāt able to settle on valuation. Make sure the equipment is part of the collateral.
Interested, DM me
Well put!
If anyone here has capital and wants to do something with it please contact me. I invested 400K to be a minority shareholder for a company for only 4% of the business, licenses, facility, brand, and production were all in place, revenue was around 200K/month. The company has grown a ton and we canāt keep up with the biomass to fund the orders so we are accepting short term working capital at a very high interest rate, collateralized with stock at 20% discount to market on paper, and in real life backed up by a lot of demand for crude, live resin, distillate, etc. Please contact me serious only
this thread makes me feel warm and fuzzyā¦ thanks
:cheers
No capitalization requirements for the micro-business license or event license. Iām headed to a law conference end of this month. And there excepting applications from any MI resident that has held there main address in MI for the determined time. I can update after the conference. I found this because I thought Iād check and read some opinions. I plan on funding some my new business with fundannna. Common stocks, all that stuff mentioned, I was able to check off my boxes. Business plan. Actual numbers. Blah blah. Till it matters
Micro= The Rendezvous Cannnbis Club and Event Grounds of Northern MI. Connoisseur Craft Cannabis Products and Event Space.
How much does one need?
To good to be true 
The typical loan has been 100-200K but we can put one together for as low as 50K.
Yes that is all true, and let us know how the conference was. My comments are regarding OP stating he was looking for capitol for a processors license.
Yes, Just thought Iād put out there, the fact that there will be licenses with no capitalization. Thanks,
I will post the link to the conference if anyone is interested.
