CI: Is 500 North 3RD St., LLC a real estate leasing company or a grower?
Pete: 500 N 3rd St is a real estate holding company; I do intend to hope to apply as a principal with a separate unrelated company “All Organic Medical Marijuana” for a grower / processor permit.
CI: Are you considered an ancillary business which doesn’t touch the plant?
Pete: 500 N 3rd St is a real estate holding company yes.
CI: How many growers would be able to occupy the space?
Pete: In Pennsylvania the Law will currently only allow us to physically house 1 grower / processor per location.
CI: Explain your revenue model?
Pete: 500 N 3rd St is a real estate holding company. We will make money by having a grow-ready building for a medical marijuana company to occupy and pay lease income to 500 N 3rd St and its investors.
CI: Can the federal government shutdown 500 North 3RD St., LLC or its growers?
Pete: 500 N 3rd St isn’t doing anything illegal by preparing a building for a grower / processor so we aren’t conflicting with any federal or state laws. Pennsylvania has approved medical marijuana and our company All Organic Medical Marijuana or any company we may partner with will follow state regulations which are protected under the Cole memorandum from federal prosecution. Yes, it is possible but not expected that the federal government could prohibit all states from having medical or recreational use marijuana programs.
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