Integrated Cannabis Solutions, Inc. (OTCMKTS:IGPK) has announced that they have submitted applications for Grow Licenses and Processing Licenses in the state of Wisconsin for the 200-acre farm they are acquiring.
License to take 8 weeks
Following the submission of the Grow and Processing application the company expects to get the license after roughly 8 weeks. From the licensing websites once a company submits their completed application and settles the licensing fees they are automatically entered in the system. The company is eligible to receive the license unless they have a conviction of a felony drug that comes up during the process of carrying out a background check. For Integrated Cannabis Solution it is thus a matter of when and not if they will get their license.
Integrated Cannabis to grow and process their crop
Integrated Cannabis is purchasing a farm in Wisconsin and they want to grow their crop and process it in-house. The Grow License will, therefore, allow them to farm and process their own crop. However, the company wanted to do more and they applied for the Processing Licenses which will give the company the leeway to collaborate with farmers around Wisconsin to process their crop.
The company is currently building a facility in Wisconsin and since the region has plenty of farmland and a shortage of processors this is an excellent opportunity that the company is expecting to leverage and it guided their application of both licenses.
2013 financial information
In a recent corporate clean up, Integrated Cannabis secured the QuickBooks file that dates back to 2013. The securing of such important financial information enables the company to roll its financials through 2018 as well as allow for auditing of the company. After completing the audit the company will have numerous options to either uplist to QB or file form 10 which will make integrated an easy acquisition because of the audited financials.
Currently, the company is reviewing other avenues in the cannabis sector and updates are expected soon.