Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV) announced today the Company wishes to Clarify Certain Disclosure.
At the request of IIROC the Company wishes to clarify certain disclosure of future oriented financial information disclosed in its news release dated February 23, 2017. Specifically the revenue projection was not explained in the context of its associates and related costs.
The Company anticipates revenues to Vodis from Vodis-branded cannabis products sold by OCI, at full operational capacity, would be as follows:
All amounts are shown $ USD
|Plants harvested||Pound of production||Grams of dry cannabis||Current market price per gram||Projected sales by
|39,960||3,465||1,571,696||$ 4.08||$ 6,400,000|
At an exchange rate of 1.30 this would equate to a fee of $2,080,000 CAD to Vodis.
Costs to be incurred in relation to the fulfillment of the branding contract including development of marketing programs, trademark, licensing and initial marketing are estimated to be as follows:
Upfront Q1 Q2 Q3 Q4 Annual Total
$75,000 $22,500 $47,500 $51,000 $56,000 $ 252,000
There can be no assurances that these targets can be met.
Vodis and its subsidiaries cannot have any interest whatsoever in any proceeds as a result of production, processing or retail activities in the United States, it can license its brand and production consulting services to approved Washington State license holders to ensure that all products produced under the Vodis name and/or associated with the “VIP” brand meet or exceed the Vodis brand quality standards.