1 | p a g ejatrorenewables.solutions/jatrocbd-summary-business-plan...1 | p a g e “experts predict...
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“Experts predict that the CBD oil market will have a compound
annual growth rate of 90% through 2024. With new methods
for producing CBD and the realization of the benefits of
CBD oil, it’s easy to understand why CBD oil will be a
significant part of the cannabis industry boom.”
Brightfield Group, LLC. | www.brightfieldgroup.com
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Confidentiality Statement and Legal Disclaimer
The provisions of this plan are privileged and confidential. Unauthorized reproduction or distribution of this Business Plan Summary or any of
its contents in any form or under any circumstances without prior written consent is prohibited. The Recipient is responsible for returning all
copies of this Business Plan Summary immediately upon request by Jatro Renewables, Inc. (also referred to the Company or Jatro).
The information contained herein is: (i) provided by the principal founders of the business and (ii) publicly available from directories,
publications and websites, as mentioned in the body and the footnotes where possible or appropriate. In some cases, non-publicly available
information was used, including independent research, studies or paid services from individuals and organizations.
While the information set forth herein is deemed by Jatro to be accurate, Jatro shall not be held liable for the accuracy of or any omissions
from this Business Plan Summary or for any other written or oral communication transmitted to the Recipient and any other party in the
course of its evaluation of transactions involving Jatro.
The information contained in the plan will require careful scrutiny, verification and due diligence efforts from the Recipients of the plan. Any
person or entity seeking to make an investment in the business should not rely on the information set forth in the plan as complete. In
addition, the analyses contained herein do not claim to be appraisals of the assets, or the valuation of any entity.
The business makes no guarantees regarding any benefits received from investment, nor the legal, tax or accounting effects of any
transaction; and this Plan does not constitute an offer to sell, or a solicitation of an offer to buy securities. In furnishing the Business Plan
Summary, Jatro undertakes no obligation to provide Recipients of the Business Plan Summary with access to any additional information or to
update this Business Plan Summary or to correct any inaccuracies that may be contained herein.
There exists substantial information with respect to the hemp business and its future prospects, and there are a substantial number of risks
associated with an investment in this business, which are not set forth in the plan.
Furthermore, the potential fulfillment of ‘forward looking statements’ contained in the plan are subject to change due to unexpected events,
market shifts, or circumstances that cannot be known at this time. Forward looking statements are based on expectations, estimates and
projections at the time the statements were made that involve a number of economic, business, and numerous risks and uncertainties which
could cause actual results or events to differ materially from those presently anticipated.
Forward looking statements in the plan maybe identified through the use of words such as, but not exclusively to: "expects," "will,"
"anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such estimates and
projections are subject to significant uncertainties beyond the control of the Company. Although such projections are believed to be realistic,
no representations are made as to their ultimate attainability.
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TABLE OF CONTENTS
Page
THE OPPORTUNITY 3
FUNDING /USE OF PROCEEDS 3
KEY INVESTMENT CONSIDERATIONS 5
COMPANY BACKGROUND 5
PRODUCT DISTRIBUTION 6
KEY MANAGEMENT 6
START-UP CASH FLOW ANALYSIS 7
DETAILED PROJECT TIME-LINE 8
ABOUT CBD 8
BENEFITS OF CBD 8
APPENDIX A: Hemp-CBD key findings 9
APPENDIX B: Oil extraction system 12
APPENDIX C: Production time-line detail 13
APPENDIX D: Proforma (15% annual growth) 14
Proforma (25% annual growth) 15
Proforma (40% annual growth) 16
APPENDIX E: CBD Product Gallery 17
APPENDIX F: CBD Cultivation Option 18
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THE OPPORTUNITY
Jatro Renewables (Jatro) is establishing an autonomous subsidiary division to focus exclusively on
designing and manufacturing oil extraction equipment for the hemp industry — a market complimentary
to Jatro’s own core business of engineering and operating biodiesel plants since 2004.
Now that the 2018 Farm Bill makes it legal to cultivate and sell hemp-related products in all 50 states —
the agriculture industry is moving quietly into top gear to address this much heralded opportunity.
The first most conspicuous and fastest developing market is the use of hemp oil as a medicine. In 2018,
according to research firm Brightfield Group, $887 million was spent on cannabidiol (CBD) oil products,
and the firm forecasts a 90% compound growth rate over the next five years. In addition, they expect the
market for all hemp derived products will reach $22b/year by 2024.
This is the market Jatro is addressing in several
stages: Stage I, has been underway since June
2018, and is the continuing development of the
Company’s hemp oil extraction process. The
objective is to have a highly scalable system with
a lower capex than those currently in use with
higher oil yields, lower processing costs and use
less energy. Stage II will follow when funding is
complete and when the Company will launch its
retail product line, but using oils processed by others temporarily. The company “CBD Experts” is
supporting that effort (www.cbdhempexperts.com).
Then, within nine months, at Stage III, Jatro will leverage its own technological and cost advantages and
produce all its CBD oil in-house.
Currently, Jatro is conducting its research on their pilot system at their engineering facility in Miamisburg,
OH. Initial oil samples have been tested by SC Labs, a California certified laboratory in Santa Cruz, and
early results show great promise well within typical with industry parameters.
CBD has been shown to help with everything from PTSD and anxiety to MS, epilepsy, relieving skin
conditions, improving sleep and more — all without getting you intoxicated as CBD has <0.3% THC, a legal
requirement for cultivation under rules of the Farm Bill (See APPENDIX A, Page 9).
FUNDING /USE OF PROCEEDS
To move ahead with the project, Jatro is seeking funds of $675k. The proceeds will be used to complete its
hemp oil extraction process, develop the retail market for CBD oil-based products, and for CBD product
inventory, promotion, and working capital.
Jatro plans to pay dividends based on members’ equity when margins allow and approved by Board of
Directors. And from reports by existing retailers selling CBD products and industry projections, annual
growth rates have been in the double digits, so Jatro is expecting to be cash flow positive within 12 to 18
months.
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KEY INVESTMENT CONSIDERATIONS
With the recent passage of the 2018 Farm Bill in December, growing hemp and making products from it is
essentially a totally new industry in the United States. Properly addressed this becomes literally the
opportunity of a lifetime. Great! So how is the Company positioned vs. the competition?
First, Jatro will have the most efficient system for extracting and processing hemp oil for almost all
CBD-based products entering the market
Jatro will have total control over its product quality and delivery — the most important aspect of
any product, especially for medicines. This includes meeting Federal and State governments
requiring certain reporting and other rules, such as THC levels be below 0.03%
Jatro’s technology includes self-sufficient portable oil extraction equipment for taking to hemp
growers temporarily. This reduces freight and storage costs as hemp is very voluminous
As a vertically integrated company it will reduce middlemen, delays and other costs
Jatro has multiple sales channels to mitigate depressed sales of any one (see diagram below)
Regarding customer relationship management (CRM), Jatro management have had deep
experience both in cellular phone service and on-line consumer recurring sales and appreciate the
nuances for keeping customers satisfied, and ultimately retaining them
To mitigate churn (loss of customers) Jatro will institute loyalty programs where individuals sign up
for one or more years of product at a discount, and delivered on a set schedule
Not treating customers as just a transaction or deal, but segmenting them and understanding each group’s specific needs and tailoring programs to meet them
Because of these advantages, Jatro expects to be dominant in CBD product sales within 2 years.
COMPANY BACKGROUND
The Jatro Renewables’ management team has many years
experience in the biofuels industry as designers and operators of
biodiesel plants. This includes having installed or re-engineening 18
plants since 2004. Today two plants are using Jatro’s new patented
supercritical technology developed in 2015 (the photo at left is a
Jatro biodiesel plant co-located at CHS, Inc’s 110 million gallons per
year ethanol plant in Illinois).
Jatro’s process significantly increases profit margins for producers as it allows conversion of low cost
feedstocks (such as municipal waste) into biodiesel without the use of expensive catalysts.
Venturing into CBD production and its R&D to enhance the processing of hemp to oil is well within Jatro’s
purview, especially since the Company has long understood oil chemistry and quality control issues.
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PRODUCT DISTRIBUTION
KEYMMANAGEMENT
Jatro is led by Raj Mosali, CEO (Founder), an electrical engineer by education with a M.S. degree from
Florida Atlantic University in Boca Raton, FL. His main function is managing the day to day operations of
Jatro as well as setting its strategic direction. He has had 21 years experience with large corporate
business environment with leadership positions. Raj has been instrumental in developing two key
technologies in biodiesel technology: the first in 2006 allowing feedstock oils to be processed to 15% free
fatty acid (FFA) from the then current 2% level. Then in 2015 advancing the technology to handle up to
100% FFA oils. On the latter, in 2017, Jatro was awarded a $4m grant by the California Energy Commission
for use of this process on a biodiesel project.
Leading technology development is John Cooper, Head Chief Chemist, who provides a wealth of
experience dealing with biodiesel and now leveraging that knowledge to develop more efficient methods
of extracting oil from the hemp plant and critical post-processing of its compounds.
For business development and marketing, Ian Lawson, Marketing and Director of Business Development,
brings a wealth of creativity to Jatro. He has a B.S. in Communications from Boston University and has
worked in the biodiesel industry since 2007. Since 1978, he has owned four businesses, all since sold,
three operating successfully today. In the early eighties he was with the ARCO Oil Company where he
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managed national marketing for their new photovoltaic products. In the mid-nineties he moved to
telecommunications and his company designed and manufactured cellular phone services and marketed
nationally.
Heading up accounting is Sabrina Pennington, Director of Accounting, who has had many years managing
accounting departments in a number of high-profile companies.
START-UP CASH FLOW & MARGIN ANALYSIS¹
The table below shows projected revenue and margins, starting in 2019. From early 2020 Jatro’s own
production unit will become operational and where margins will increase substantially.
The start-up product mix consists of about 5 to 7 popular SKUs that show the most promise. Among them:
tinctures, topicals, creams, capsules, vapes, gummies and dog chews (see APPENDIX E).
INVESTMENT
2 Q2 2019 3Q 4Q 2020 2021
Equipment
$150,000 Working Capital
$525,000
Sub-Total Capex
$675,000
CASH ON HAND $525,000 510,613 536,784 624,527 971,498
REVENUE # of Items 1 g Tinctures
2,304 3,253 4,535 14,948 17,190
Sub-Total Revenue $75 $172,783 $243,954 $340,161 $1,121,111 $1,224,814
COST OF GOODS SOLD CBD Tinctures $27 62,202 87,823 122,458 403,600 464,140
Packing
19,968 24,960 24,960 inc.² inc.²
Sub-Total COGS 82,170 112,783 147,418 151,592 163,744
RETAIL COSTS Internet Advertising
40,500 40,500 40,500 inc.² inc.²
Sub-Total Retail 40,500 40,500 40,500 194,400 204,800
G&A. Engineering/R&D
12,000 12,000 12,000 66,000 69,300
Management and G&A
52,500 52,500 52,500 362,148 432,286
Sub-Total G&A and Engg 64,500 64,500 64,500 428,148 501,586
TOTAL COSTS 187,170 217,783 252,418 774,140 870,129
EBITDA
-14,387 26,171 87,743 346,972 354,685
% of Revenue
-8% 11% 26% 31% 29%
ENDING CASH $510,613 $536,784 $624,527 $971,498 $1,326,183
Notes
(1) See 5-Year Proforma, APPENDIX D, pages 14-16
(2) Cost included in Sub-Total COGS and Sub-Total Retail
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PRODUCTION TIME-LINE
HEMP INDUSTRY OVERVIEW
A carbohydrate economy reduces pollution, builds stronger rural communities and supports a rooted
farmer-owned processing and manufacturing sector:
Hemp offers high tonnage of biomass over a one to three growing seasons per year
(depending on latitude and elevation) at (2 to-4 tons per acre)
Hemp has excellent opportunities for co-and by-products in seed and fiber processing,
Hemp enhances environmental values on the farm, and thus is consistent with the
objectives of using plants for energy.
Some value-added end uses for co-and by-products for industrial hemp include:
Composites
Fine paper
Nitrogen-rich fertilizer
Plastics
Fabrics
Polymers,
Seed products for nutrition for food and feed
Industrial oil markets for biodiesel, renewable diesel and ethanol etc.
For rural economies needing to diversify, for small family farms needing to create additional value from
their produce, and for everyone sick of the choking smog created by our millions of cars, biodiesel and
ethanol production deserves serious consideration.
*
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APPENDIX A
CBD SUMMARY
CBD, is the non-psychoactive cannabinoid found in the cannabis sativa plant. Over the past couple of years
it has had a huge surge in popularity. It is unlike tetrahydrocannabinol (THC), which comes from a
different strain of the same plant that gives weed its signature psychoactive effect.
Previous to the Farm Bill, CBD products have been available mostly in head shops, with a few doctors
recommending it for various maladies.
However, in 2017 and 2018, the products spread to natural food stores, beauty aisles, cafés, doctors’
offices . . . and of course the internet!
(btw, the term “hemp” is used for cannabis sativa strains containing less than <0.3% THC; the label
“marijuana” refers to strains with over >0.3% and typically up to ~30% THC.
BENEFITS OF CBD
HelloMD and the Brightfield Group conducted the largest CBD market usage study to date. This study includes 2,400 HelloMD members of their total community of 150,000 customers.
Key findings for hemp-derived CBD users are;
59 percent of consumers are female
Anxiety is the top medical condition to treat
The majority of users purchase from dispensaries
59 percent of consumers prefer oil cartridges/vaping
More than 50 percent use CBD products daily
Consumers use CBD products to provide the best medical relief
“In an effort to shed light onto the opaque market, Brightfield Group, in combination with HelloMD, has
collected data from over 2,400 HelloMD medicinal cannabis community members from the United States
(primarily California) and abroad. The resulting analysis provides insight into their experiences and
perceptions of CBD products – both hemp-derived and marijuana-derived,” states the report.
HEMP-CBD KEY FINDINGS
Overall, this CBD market study demonstrates that consumers find effectiveness in treating anxiety,
insomnia, joint pain and depression. Throughout the study, rates of CBD usage, CBD user profiles, medical
conditions treated by CBD, brand preferences, and CBD customer satisfaction were all determined for CBD
dominant users, marijuana-derived CBD only users, hemp-derived CBD users, and THC dominant users.
For the sake of Infinite CBD being an industrial hemp-derived CBD isolate company, these findings
primarily reflect hemp-derived CBD users.
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User Demographics
The majority of hemp-derived CBD users are female, making up 59 percent of users. 31 percent are
between the ages of 35 and 49 with people age 26-34 and 50-60 following at 22 percent.
According to Infinite CBD reports, our demographics are similar to these statistics. The majority of our
users are women but 32 percent are between the ages of 25 and 34.
Preferred Consumption Method
The HelloMD and Brightfield Group survey concludes that vaping is the preferred method of consumption.
Next is a topical. Consumers would then prefer a high CBD flower/strain, followed by tinctures and
edibles.
For Infinite CBD, over the past three months Internet retailerAbsolute Zero has been their most popular
product. This is a smokable and users can either dab or vape. Vaping offers users a fast and effective relief
that is discrete. Our 5000mg droppers were the next most sold product over the past three months. These
can be used as a topical or as a tincture.
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Of the 2,400 participants, 71 percent use hemp-derived CBD products for anxiety.
In a double blind study, 12 participants took 600 mg of CBD while 12 participants took a
placebo. Results conclude that those who took CBD had significantly reduced anxiety, cognitive
impairment and discomfort in their speech performance, and significantly decreased alert in their
anticipatory speech.
Insomnia
64 percent consume for insomnia. During a Brazilian study, researchers at Escola Paulista de Medicina in
São Paulo completed a study where 15 insomniacs were administered 40 mg to 160 mg of CBD, a placebo,
or nitrazepam. Results show that the highest dose of CBD increased sleep. Additional research studies
describe CBD as an effective way to regulate REM sleep alteration.
Joint Pain and Inflammation
55 percent of users use CBD products for joint pain and inflammation. Dr. Sheng-Ming Dai of China’s
Second Military Medical University found CB2 receptors are found in unusually high levels in the joint
tissues of arthritis patients. Further, the Rheumatology article explains the use of cannabis fights
inflammation in joints by activating CB2 receptors.
Depression
49 percent consume hemp-derived CBD for depression. When administered CBD, animal subjects in a
study showed to have fewer instances of anxiety and depression. The study tested animals in various
scenarios such as the forced swimming test (FST), elevated plus maze (EPM) and Vogel conflict test (VCT).
Results suggest that CBD exhibited anti-anxiety and antidepressant effects.
Effectiveness
84 percent of the survey participants find hemp-derived CBD products to be either extremely effective or
very effective. No one finds CBD to have any effect at all. In comparison to CBD-dominant products and
marijuana-derived products, hemp-derived CBD products were almost just as effective if not more as
alternatives.
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APPENDIX B
Above, a rendition of Jatro’s bench-top pilot hemp to oil extraction system that will be fully
commercialized by the end of 2019.
Jatro Renewables’ engineering and corporate offices at Miamisburg, near Dayton, Ohio.
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APPENDIX C
DETAILED PROJECT TIME-LINE
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APPENDIX D - 15% ANNUAL GROWTH
Proforma - 5 Years
2019/20 2021 2022 2023 2024
REVENUE # of Items @ 1 g 15% 28,725 33,034 37,989 43,687 50,240
Items Sold per Day
79 91 104 120 138
Revenue per Item -5% 75 71.25 67.6875 64.303125 61.0879688
Total Retail
2,154,375 2,353,655 2,571,368 2,809,219 3,069,072
Wholesale 15% Other
Sub-Total Revenue
2,154,375 2,353,655 2,571,368 2,809,219 3,069,072
COST OF GOODS SOLD Hemp Per lb -5% $45 43 41 39 37
Hemp lbs
633 728 837 963 1,108
Hemp, Raw $
$28,497 31,133 34,013 37,159 40,596
Labor 5% $288,000 302,400 317,520 333,396 350,066
Power 10% $75,179 82,696 90,966 100,063 110,069
Chemicals 10% $37,589 41,348 45,483 50,031 55,034
Maintenance 10% $28,800 30,240 31,752 33,340 35,007
Product Package 1 28,725 33,034 37,989 43,687 50,240
Sub-Total COGS
$486,790 520,851 557,723 597,676 641,012
RETAIL COSTS
Internet Maint. 10% $54,000 59,400 65,340 71,874 79,061
Internet Advertising 5% $180,000 189,000 198,450 208,373 218,791
Website Mgt. 5% $24,000 25,200 26,460 27,783 29,172
Sub-Total Retail
258,000 273,600 290,250 308,030 327,025
G&A.
Accounting
$84,000 92,400 101,640 111,804 122,984
Insurance
$18,000 19,800 21,780 23,958 26,354
Management
$300,000 330,000 363,000 399,300 439,230
SS, Payroll Taxes 30% 201,600 217,440 282,672 367,474 477,716
Engineering/R&D 5% $185,655 194,938 204,685 214,919 225,665 Extraction Equiment Lease 0% $56,400 56,400 56,400 56,400 56,400
Sub-Total G&A
$845,655 910,978 1,030,177 1,173,854 1,348,349
SUMMARY
EBITDA
563,930 648,226 693,218 729,660 752,686
% of Revenue
26% 28% 27% 26% 25%
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APPENDIX D - 25% ANNUAL GROWTH
Proforma - 5 Years
2019/20 2021 2022 2023 2024
REVENUE # of Items @ 1 g 25% 28,725 35,906 44,883 56,104 70,129
Items Sold per Day
79 98 123 154 192
Revenue per Item -5% 75 71.25 67.6875 64.303125 61.0879688
Total Retail
2,154,375 2,558,320 3,038,005 3,607,631 4,284,062
Wholesale 15% Other
Sub-Total Revenue
2,154,375 2,558,320 3,038,005 3,607,631 4,284,062
COST OF GOODS SOLD Hemp Per lb -5% $45 $43 $41 $39 $37
Hemp lbs
633 792 989 1,237 1,546
Hemp, Raw $
$28,497 33,840 40,185 47,720 56,667
Labor 5% $288,000 $302,400 $317,520 $333,396 $350,066
Power 10% $75,179 $82,696 $90,966 $100,063 $110,069
Chemicals 10% $37,589 $41,348 $45,483 $50,031 $55,034
Maintenance 10% $28,800 $30,240 $31,752 $33,340 $35,007
Product Package 1 28,725 35,906 44,883 56,104 70,129
Sub-Total COGS
$486,790 $526,431 $570,789 $620,653 $676,973
RETAIL COSTS
Internet Maint. 10% $54,000 59,400 65,340 71,874 79,061
Internet Advertising 5% $180,000 189,000 198,450 208,373 218,791
Website Mgt. 5% $24,000 25,200 26,460 27,783 29,172
Sub-Total Retail
258,000 273,600 290,250 308,030 327,025
G&A.
Accounting
$84,000 92,400 101,640 111,804 122,984
Insurance
$18,000 19,800 21,780 23,958 26,354
Management
$300,000 330,000 363,000 399,300 439,230
SS, Payroll Taxes 30% 201,600 217,440 282,672 367,474 477,716
Engineering/R&D 5% $185,655 194,938 204,685 214,919 225,665 Extraction Equiment Lease 0% $56,400 56,400 56,400 56,400 56,400
Sub-Total G&A
$845,655 $910,978 $1,030,177 $1,173,854 $1,348,349
SUMMARY
EBITDA
563,930 847,311 1,146,790 1,505,094 1,931,716
% of Revenue
26% 33% 38% 42% 45%
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APPENDIX D - 40% ANNUAL GROWTH
Proforma - 5 Years
2019/20 2021 2022 2023 2024
REVENUE # of Items @ 1 g 40% 28,725 40,215 56,301 78,821 110,350
Items Sold per Day
79 110 154 216 302
Revenue per Item -5% 75 71.25 67.6875 64.303125 61.0879688
Total Retail
2,154,375 2,865,319 3,810,874 5,068,462 6,741,055
Wholesale 15% Other
Sub-Total Revenue
2,154,375 2,865,319 3,810,874 5,068,462 6,741,055
COST OF GOODS SOLD Hemp Per lb -5% $45 $43 $41 $39 $37
Hemp lbs
633 887 1,241 1,738 2,433
Hemp, Raw $
$28,497 37,901 50,408 67,043 89,167
Labor 5% $288,000 302,400 317,520 333,396 350,066
Power 5% $75,179 78,938 82,884 87,029 91,380
Chemicals 5% $37,589 39,469 41,442 43,514 45,690
Maintenance 10% $28,800 30,240 31,752 33,340 35,007
Product Package 1 $28,725 40,215 56,301 78,821 110,350
Sub-Total COGS $486,790 529,162 580,308 643,143 721,660
RETAIL COSTS
Internet Maint. 10% $54,000 59,400 65,340 71,874 79,061
Internet Advertising 15% $180,000 207,000 238,050 273,758 314,821
Website Mgt. 5% $24,000 25,200 26,460 27,783 29,172
Sub-Total Retail $258,000 291,600 329,850 373,415 423,055
G&A.
Accounting
$84,000 92,400 101,640 111,804 122,984
Insurance
$18,000 19,800 21,780 23,958 26,354
Management
$300,000 330,000 363,000 399,300 439,230
SS, Payroll Taxes 30% $201,600 217,440 282,672 367,474 477,716
Engineering/R&D 5% $185,655 194,938 204,685 214,919 225,665 Extraction Equiment Lease 0% $56,400 56,400 56,400 56,400 56,400
Sub-Total G&A $845,655 910,978 1,030,177 1,173,854 1,348,349
SUMMARY
EBITDA $563,930 1,133,579 1,870,539 2,878,050 4,247,992
% of Revenue
26% 40% 49% 57% 63%
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APPENDIX E - CBD PRODUCTS GALLERY
The graphic below is a concept-only rendition of how Jatro’s products might be look when marketed.
The company name “JatroHempCompany.Com” and “LoveCBD.Club” are just ideas at this point; however,
both domains have been registered in case they are used.
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APPENDIX F - CULTIVATION, GROWING
The series of photos below show an area 45 miles east of San Diego, where the Company could develop
hemp cultivars and start commercial growing. The land is mainly used for grapes but several acres could
be set aside for high quality CBD oil.
The turn-around time for hemp is 14 weeks from seed to harvest. It’s anticipated that one acre with two
to three crops per year will yield 340,200,000 mg of CBD (750 lbs) after extraction.
Also, the typical high water costs in California are somewhat mitigated here as the land is served by an
endowed well. This provides the 20” of water hemp needs annually
Now consider the financial potential: as of 2/19 the retail price for a 1,000 mg product of CBD (in bottles,
topicals, gummies etc.) is about $0.07/mg. This becomes: 340,200,000 mg of CBD product sales x the
retail cost at $0.07/mg = $23,814,000 per year. Not a bad year’s work!
(Below) the winery’s location at 1910 Buckman Springs Road, Campo and four miles from the Mexico/USA
border.
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