COCONUT CREEK, Fla.- Integrated Cannabis Solutions, Inc., (OTCPINK: IGPK) issues Shareholder update for 2022. The past few years have been spent cleaning up the entity and becoming a fully reporting entity. In June of 2021 IGPK accomplished this task with the clearance of its S1 Registration. Now its time to build the company through acquisitions of revenue producing entities with tangible assets. These acquisitions will build the asset base and revenue needed for the Company to move up exchanges.
The Closing will take place this quarter with Consolidated. The delays are related to auditing a private company that has significant inventory carried each quarter. Since the auditor was not present from day 1 a history of every piece of inventory purchased and sold must be tracked from initial delivery to the warehouse to delivery to the purchaser. Due to the Covid-19 and the workers within facility not wearing masks, Our CEO Matthew Dwyer for health reasons cannot go to Consolidated to assist. IGPK, had the IT person for Consolidated setup online access to allow our CEO to remote login to their Server to source the information needed. Once we complete the initial audit, moving forward the auditors will simply do a physical count each year. Consolidated has several acquisition targets that should help drive revenue to $5 million gross annually with a Net of around 20%.
The Company has been pursuing multiple deals in the cannabis sector in California, from raw land to operating entities. We are moving forward with the acquisition of an operating entity in California. The Company has revenue of approximately $300,000 per month (with sizable room to grow) and tangible assets of approximately $5 million dollars. This acquisition will accomplish several goals for the Company; 1) will begin to build our asset base for future market moves; 2) establishes significant revenue for the Company; and 3) The acquisition brings on board season management, allowing us to grow through future acquisitions.
The Company has been working with locals in the Caribbean to enter the cannabis sector. Things are progressing and soon Parliament will vote to allow medical cannabis. IGPK will be positioned to work with our local partner(s) to acquire real estate and buildout a facility to grow and manufacture products for the medical market. IGPK will assist with funding to purchase all the equipment and real estate, which will then be leased to a local management entity. This is a very exciting opportunity for IGPK, the local Caribbean market is not that large, it is the over 600,000 monthly tourists and the ability to export products where we see the opportunity. We plan to use our contacts from the California operation to obtain products that can be manufactured, then exported to contacts in Europe for distribution.
The Company has decided not to pursue a hemp farm in Wisconsin at this time. The steep decline in hemp prices spurred by the Farm Act have reduced the profitability of the hemp market. We will not renew our licenses for 2022. The Company has other opportunities to act upon that will have an immediate effect on the Company.
During the first quarter of 2022 IGPK will launch a newly designed website incorporating our acquisitions and adding enhanced features such as Level 2 stock quotes to its investors page.
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. No information in this press release should be construed in any manner whatsoever as an indication of our future revenues, financial condition, or stock price.
(This information is primarily sourced from Integrated Cannabis Solutions, Inc. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).