Raising Cannabis Capital 0093: NC Ultra

Sharon Burns from Denali Accountants is applying the experience she's gained over the years helping cannabis companies to NC Ultra.  Sharon talks to Dan Humiston about purchasing a working 14 acre Santa Rosa farm and adding cannabis.  Her team, that includes experienced growers from Oregon have big plans for the property.  Sharon also shares the details of their 4.5 million dollar capital raise.  

Produced By MJBulls Media

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Dan Humiston:
Today Show and the following message are brought to you by Trevett Hill cannabis investors expect big returns from the companies that they invest in. Unfortunately not all cannabis investments succeed. Trevett hill's management team works with investors to help turnaround or in some cases purchased their underperforming portfolio companies to learn more go to Trevetthill.com.

SHARON BURNS:
One can still make six million a year and then the other part because it's 56 greenhouses ready to go. They're already on the property. What about this property. It has artesian well. It has its own wells system.

Dan Humiston:
It's the MJBulls podcast a show about raising cannabis capital.

Dan Humiston:
I'm Dan Humiston. And on today's show how this cannabis accountant is applying her years of experience helping other cannabis businesses to her own venture acquiring a working farm in Santa Rosa California and adding cannabis.

Dan Humiston:
Today there is an cannabis capital series we are joined by Sharon Burns who is the owner of Denali accountants and she's also the person is spearheading U.S. Ultra. Sharon welcome to the MJBulls podcast here.

SHARON BURNS:
Thank you for allowing me to be your guest today.

Dan Humiston:
Oh my pleasure. Before we jump in and start talking about and see ultra let's talk about the gnarly accountants. You're an accountant and a cannabis account. I mean there aren't a lot of cannabis codes. Maybe you could take a minute to talk to our listeners and explain to them why a cannabis accountant is so important for cannabis businesses why it's so much more important to work with somebody that has experience in cannabis.

SHARON BURNS:
Ok. I'm also a dope CFO and there is only about 100 of us in United States. We specialize in a normal CPA and a normal bookkeeper do not know 280. Let's tell to about what I know is I can bring an experience I can look at something and say oh let's change this let's set up a new company let's be a little bit different. And the difference is I usually save people anywhere from 60000 to over a million dollars during my life. Wow yeah. And I can look at books and say I'm wrong wrong. It's a success.

SHARON BURNS:
Usually within 10 minutes I think like you said knowing to 80 and knowing how to properly set up somebodies books. So they're not wasting money is so essential. But I think more important now we're rolling in to talk about and see ultra project having your experience working in the cannabis industry from sort of behind the scenes looking at people's books and seeing how their operations of their businesses. You'll really see a lot of good practices and really problem with such you up well for this project.

Dan Humiston:
Jump right in let's talk a little bit about the project.

SHARON BURNS:
People can see ultra is in Santa Rosa California. What's great about this project is we have to top cannabis growers from Oregon running it. It is a 14 acre currently working farm. It's not a cannabis farm. We have flowers and trees and herbs and that farm currently is making one point four million a year in Santa Rosa. You can only have one acre of cannabis that one acre can still make six million a year. And then the other part because it's 56 greenhouses ready to go. They're already on the property. What's about this property. It has artesian wells it has its own wells system. What is also good is one entropy cannabis and then the other will be. I've been adding ginseng and for long trail and ginger and there's a few other herbs and mushrooms because we're so close to San Fran. It's worth our while to grow other products because it's 14 acres. So there's two revenue streams there. And then the revenue stream that's in it now. It's not done very well. I've looked at the books and I said wow I could do better. Tell us what's great about this is two revenue streams we can be up and running really quickly but the farm is three million dollars. So we buy the farm the day after we buy the farm. We're making money already. What's kind and she Ultra is where it's so close to all the hippy restaurants in San Fran. What is it you're looking for and they say rare mushrooms fresh herbs ginseng.

Dan Humiston:
I want to take a minute to remind all of our listeners about a new podcast produced by MJBulls media Hemp Barons is a weekly show about the company's products and entrepreneurs who are using this amazing plant to create and improve the products we use every day. You can listen to hemp barons every Tuesday an Apple II iTunes Stitcher Spotify wherever you get your podcasts from.

Dan Humiston:
Let's talk about the farm again for the farmers and up and running farm in right now. The annual revenues are one point four million dollars and that's without selling cannabis or growing cannabis. The farm is 56 greenhouses which seems like a lot. Everything's all teed up for you. I think when we spoke earlier said it already has a building or an office is already on the property so it sounds like this thing is ready to go. It needs new ownership and ownership with people that have experience in the industry bring in the NC electric team. And you're up and running. That sounds pretty good to me. Tell me a little bit about the race so you're raising money for this project. Can you break it down for our listeners.

SHARON BURNS:
Ok. We're looking to raise 4.5 million and out of the 4.5 million three million will be for the farm and the farm has a lot of assets a lot of trucks. We need another million to update all the greenhouses. I mean the greenhouse stitcher there. But these dumb LED lighting may need irrigation system. They just need some work. And then the other half a million is just like a slush fund. We don't want it. And we probably won't need it like it to be there like working cannabis million. Absolutely. And we would do things slowly. First thing is to get the latest. You'll have one acre. We can do to cannabis each. They can actually start making getting the babies randomly. And then when Lakers comes we're up and running and then we will separate the 56 greenhouses into their newer products in Tennessee the ginger the mushrooms cilantro. So that's where the money would be going. And then the investor would get 30 percent of what pasta we would pay back 25 percent of the low sell within four to five years. Lower paid off the loan is paid off the investor will get 10 percent every year 10 percent of net revenues.

Dan Humiston:
Yes.

SHARON BURNS:
Yes. Because I think this is a big deal because it's already making money is an asset there. We know it's going to work.

Dan Humiston:
Well like you said you start day one with the businesses generating revenue so that's a good thing. Absolutely. Second and second probably more important is that you have a piece of real estate not an asset. This isn't going towards are indeed. This isn't going towards marketing. Most of this money is going towards an asset and even the money that you're putting into the greenhouse is just enhancing their bad assets. So it sounds very attractive to me. Well we've been speaking with Sharon Burns who is the owner of Denali accountants. But she's also spearheading the NC ultra project.

Dan Humiston:
And we have all of the NC ultra projects information and the MJBulls Web site. How to get a whole Sharon. It's all on her Web site right now. Sharon thanks for being on the show today. It's a very exciting project.

SHARON BURNS:
Thank you. I can't wait to have feedback from your.

Dan Humiston:
Well I don't think you have to wait long so far. Good luck with this. Let's stay in touch okay.

SHARON BURNS:
Okay. Thank you.

Dan Humiston:
Thank you. Just a quick reminder that you can become an MJ MJBulls member for just four dollars and ninety nine cents per month and enjoy exclusive access to companies pitch decks and the MJBulls cannabis capital directory. Joined today at MJBulls dot com.

Dan Humiston:
Thanks for listening to the MJBulls podcast. To learn more about today's guests or to become a guest. Visit our Web site at MJBulls dot com.

Dan Humiston:
Today's show is produced by prominent media with original music composed by Jamie Humiston. I'm Dan Humiston and you've been listening to the MJBulls podcast.

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