Global Consortium Inc. (OTCMKTS:GCGX) owns Indulge Oils (www.indulgeoils.com), a cannabis distillate which is currently being manufactured and marketed in California.
Global Consortium, Inc., is building America’s First Cannabis Mall in Sacramento, CA which when completed will house Manufacturing, Distribution, Delivery, Retail, Testing, and Cultivation all under one 64,000 square foot building.
The Mall will house the largest Manufacturing facility of THC and CBD Distillate and Edibles believed to be operational in the United States. Global Consortium has leased 25,000 Square feet of the building with a purchase option, the Company is working to secure a first right of refusal for the remaining 39,000 square feet.
Indulge Oils is a premium “pesticide free” product sought after brand as it is known for its purity and high quality. Indulge Oils produces clean and pure oils that do not contain any residual particles, are non-toxic and non-carcinogenic.
This is why Indulge Oils commands a premium for its oils and cartridges. Global Consortium, Inc. executed a 5-year lease with an option to purchase 25,000 square feet in Sacramento, CA.
In January/February of 2020 a new edible brand owned by GCGX will begin rolling off the line in Sacramento and sold through the Distribution and Delivery suite. During 2020 new products will be introduced including beverages.
The company is currently also expanding into the state of Florida.
There has been substantial progress in California with licensing and permitting. They are now ready to do full manufacturing for the Indulge Oils line. Dwyer also announced that GCGX will begin working Florida on a new CBD line, the upcoming elimination off all remaining convertible debt, and what is next for GCGX in 2020.
Dwyer stated, “Now that we are producing oil daily, the Company is now in the revenue producing phase making this a great time to update our shareholders on our progress. I wanted to let them know about all the progress we have made across several fronts and our excitement regarding launching CBD operations in Florida. We are working hard to wipe out convertible debt and work towards our upcoming share buyback
What the chart looking like?
GCGX shows the hallmarks of a productive accumulation base over recent months, with a multi-stage Bull Divergence: diminishing selling intensity as support holds in place.
In many cases, this type of pattern is the footprint of smart money being put to work by strong hands with a deep understanding of the business context.
That wouldn’t be a surprising characterization of this stock at present, given its recent progress on permitting and its expansion into the lucrative Florida market. The macro context also provides justification for this interpretation, as the broad bear market in the cannabis and CBD space appears to be over, giving way to a new bull market phase.
Indulge to release new line “Indulge Reserve” to Boost Revenues
COCONUT CREEK, Florida, May 13, 2020 /PRNewswire/ — Global Consortium, Inc., (OTCPINK: GCGX) brand Indulge Oils is pleased to announce its finished product, with potency tests showing mid to high 80s, began rolling off the line at the end of April. This marks the introduction of the revenue phase of the company, allowing GCGX to be among the few cannabis companies to become cash-flow positive.
The finished product must now go with a Distributor who will send out a sample to be tested by an independent lab. Upon issuance of a certificate of analysis by the testing laboratory that the cannabis batch has passed the testing requirements pursuant to this division, the distributor shall conduct a quality assurance review before distribution to ensure the labeling and packaging of the cannabis and cannabis products conform to the requirements of this division.
The Distributor must hold each lot in quarantine aka “storage” for 30 days prior to any sale taking place.
Indulge Oils will essentially be building up a pipeline of oil ready for sale after each batch comes off quarantine.
A couple of liters from each batch will be used to have carts made. One liter of oil can produce approximately 2,000 carts that can sold wholesale for initially $8.00 a cart, drastically increasing the profit margins from a single liter. As the market learns of the return of Indulge Oils and the brand begins to build momentum again, the wholesale price will go up and more carts will be made.
In the summer a new line from Indulge Oils will be released “Indulge Reserve” these will be for the refined palate seeking a smooth crisp taste with a potency level of 90% or better. These carts will be limited and sold for a premium.
Global Consortium, Inc., owns the brand Indulge Oils which is being manufactured and sold in California.
Global Consortium, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg. FD.
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