A
CIM: Could you talk a little bit about your organizational structure?
VC: The executive lead team is Jamiel (CEO) and Farrah (COO). We have a master grower and we have our core team of growers and supervisors that complete our cultivation and production.
Q
A
CIM: What does your capital structure currently look like today? How much has been invested into the company? Do you have investors?
VC: Currently we are looking for equity partners through a term sheet. We have invested a little shy over $1M. We do have a small loan for only 150K.
Q
CIM: How much capital do you need in the short-term? Long-term?
Q
A
VC: In the short term, we are looking to raise $2.5 Million. If we choose to continue our production to end at manufacturing, our estimates identify a need of $15 Million.
CIM: What do you plan on using the capital raised for?
Q
A
VC: Our primary focus is having the right capital to build our infrastructure and core team to service as many markets as we can. Being in this industry is fairly new, Virtudes will set itself apart from competitors by doing all the necessary prep work now regarding compliance so future changes in regulation will have little to no disruption to our business. Essentially, building our facility with quality to last in this rapidly active industry.
62