Raising Cannabis Capital 0095: CIFT Group

CIFT Group, Inc. was created to help master growers transition from small cultivation facilities to large-scale cultivation/manufacturing facilities. Benjamin Lee leads an all star team of executive with both corporate and cannabis experience.  On the show he talks to Dan Humiston about implementing proven business processes to help their clients to keep up with the industry's explosive demand. He also talks about the patents they've acquired and raising capital to fuel their expansion.

Produced By MJBulls Media

MJBulls 0095 Cift Group f.mp3 | Convert audio-to-text with Sonix

Dan Humiston:
Today's show is sponsored by Folium Biosciences. The world's largest vertically integrated producer manufacturer and global distributor of hemp derived cannabinoids Folium Biosciences knows how difficult it is to run a cannabis business. That's why they created a suite of financial products to help their customers succeed. Their services include funding merchant processing insurance and banking. Go to Folium Biosciences dot com or listen to hemp Baron's podcast to learn how Folium Biosciences can help your company get a line of credit liability insurance a bank account and much much more Folium Biosciencesdot.com.

BENJAMIN LEE:
I guess you can hear it's hard but just wanted to put it in a nutshell. We're taking patented and proprietary technology that are already being utilized in other industries as well and product right. So basically associate process technologies and we're basically importing I'm going to.

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

Dan Humiston:
I'm dan humiston. And on today's show how this all star team of executives with the rare combination of business and cannabis experience car playing mainstream business procedures to help cannabis facilities scale up.

Dan Humiston:
Today the raising cannabis capital series we are joined by Benjamin Lee the CEO of cift group. Benjamin welcome to the MJBulls podcast.

BENJAMIN LEE:
And thanks for having me. Appreciate

Dan Humiston:
It. Well cift group stands for cannabis infrastructure and technology group. You're kind of like an all star management team. It's the best way for me to describe you guys both your growth cannabis and non cannabis business veterans is that can how you would describe your team.

BENJAMIN LEE:
Yeah it's interesting because really it was founded by a group of industry professionals. We saw that there were huge gaps in the knowledge in the cultivators because a lot of the mass of growers that are out there that are growing cannabis they're very very well versed at growing the plant. But as they continue to scale up to a larger facility then they really don't have the knowledge or the expertise with regards to a big market just needs a new military ERP which is enterprise resource planning or many practice resource planning. And the challenge with that is it's really difficult to be able to manage the quality control and the quality assurance at those levels. So that's really where we come in. So my partner as one has been in the retail hydroponics industry for 15 years so it's product knowledge is really really wide and really really deep because it's basically seeing everything out there for the last 15 years. My other partner is an ex G.E. leasing Motorola vistas that you know the scissor trimmer company. She's the one that brings that corporate manufacturing expertise to the table really I'm the guy that kind of puts everything together with regards to the business plans looking at it from a strategic perspective we help them with really looking at the different technologies that we can really implement to help them to scale and to maximize their profitability.

Dan Humiston:
Well I can see where that's a real need. Since the passing of the Farm Bill a lot of these companies are exploding and trying to scale. Now a lot of MBA is working in some of these businesses they need some of that experience. Mike what you guys bring to the table can see where this real beneficial plan is moving forward you're going to start implementing some of these proven business management processes and helping companies reduce costs and helping with the buying on a larger scale. Can you talk a little bit about that plan.

BENJAMIN LEE:
Sure. As we begin to acquire more clients in a specific geographical location then we'll start bringing on people that have got local knowledge as well as teaching them how to implement the systems that we are already implementing for your clients going forward.

Dan Humiston:
I see. And the plan is once you get a bunch of these different facilities have them work together so that you can realize some benefits from economies of scale and is that where the next plan would be.

BENJAMIN LEE:
Yes exactly. So you're really the next phase is for us to start acquiring or purchasing large quantities of specific items. So for example we got a rock wall right will look at purchasing Rockwall much larger quantities so we can really drive down those prices. And as we grow down prices will obviously pass on the cost savings to our clients. Another thing that we are really focused on our patented technologies a couple the patterns of technologies that we're currently working with. One is a thin film basically a Listerine restaurant that we're able to infused with THC CBD in the different candidate. Obviously from a delivery system perspective it's phenomenal because by utilizing the oral steam so it'll actually bypass first past the tablet. And what that means is instead of you taking a pill and you losing 50 percent of the active because it actually is cleaving a gut you know you're actually getting the delivery at a much faster rate because it's actually absorbed through the bloodstream and the shoots or under the tongue and a much quicker rate. So you're not using basically half of what you're paying for it's a great way to actually travel with a particular item because again it's basically just a little pocket set they contain so that they can strips and you can just carry that in you know it also flushes your breath too. So it's just a really really phenomenal delivery system. We also have several other delivery systems as well as something that really starts out in a liquid form is what we can really really manufacture from a white legal perspective for a client and then we actually have two other kinds of technologies.

BENJAMIN LEE:
One is a restructure of water technology. We utilize it in two different forms. If you utilize it for irrigation it does three things. One is Michael Costa of the water for basically they reduce the surface tension of water so that the uptake of voting minerals and nutrients is higher. You know it's easier for the plants to cool the water in the nutrients from the roots and it takes less energy to get to. Leaves went through the scam to the entire structure of the plant and then also what it does is it infuses the water with free electrons. If you're familiar with our AP or oxidation reduction potential. What that means is if it has a positive value and if you look at normal water normal drinking water it has typically value positive 200 to 800. What that means is if you're to drink the water it's actually a good idea trusting you on the inside and taking electrons from that is actually had the opposite effect. This is actually built in the electrons for energy to you. Or it's a plant. So the help of the plant is just greater because it's using less energy to take the vital minerals and nutrients up to the different parts of the plant as well as getting free electrons. So you're getting more energy. So the better the health the plant the higher the yields which is obviously one of the most important measurements of Ron cannabis. And then there's one more technology what we call a refill and liquid silica. It's basically an electric magnetically charged liquid sand which has a P H of supporting. It actually has phenomenal microbial and bacterial and viral properties.

Dan Humiston:
It sounds like those patterns are all of non plant touching patterns but can be used in these facilities that you're working with so they can take advantage of all of the technologies that you've acquired already and the new ones that you're going to require. Well let's talk about that moving forward. What are the plans for t within the next two years or a year and a half.

BENJAMIN LEE:
So we're looking to expand obviously our geographical reach. We're looking to really get the large scale facility trying to get your business model out as quickly as possible and then still maintaining that really really high level of service. I want to take a minute to remind all of our listeners about a new podcast produced by MJBulls media.

Dan Humiston:
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 on Apple iTunes Stitcher Spotify or wherever you get your podcasts from.

Dan Humiston:
To do this next phase you're going to raise some money. Can you tell our listeners about your raise and maybe some of the terms.

BENJAMIN LEE:
This is our round. We're looking for is bringing a half million dollars a convertible note and it will be a two year note with 8 percent annual interest and depending on which way it goes. Whatever works best for the investor is what we'll do. So for example if a 30 percent discount to the IPO is best and that's what we'll do for the investors if for whatever reason the IPO takes a little bit longer then we will allow the investors to convert either at a two and a half times top line revenue at the time or at 15 million pretty money valuation caps.

Dan Humiston:
That sounds very . How do you plan to invest the money after the raise.

BENJAMIN LEE:
I mean we're just using that to finalize the acquisition of the technologies we're looking at it as basically just growth capital. None of that coming out whatsoever. We're really looking towards getting us up to the a bigger number with regards to revenue. We are really wanting to go public in the next nine to 12 months.

Dan Humiston:
And when you go public it's going to be a nun plant touching sort of a cannabis ancillary type of business is that correct.

Dan Humiston:
Correct. Right now are you actually we just met with the New York Stock Exchange actually last Monday and restructure there had a listing right now there won't be any companies at the right any revenue for candidates whatsoever and they're not taking regular class filings anymore either to to go on the NYSE or the NYSE American brokerage such as Nasdaq again. They're obviously very nice. Hey listen we do right now. Rapid change smart so based on our conversations as of this point you know we're looking to potentially go Nasdaq but we also have a feeling that as we get a little bit further along that the rules regulations and legislations on a federal level are going to be more amenable to potentially restoring NYSE compared to Nasdaq.

Dan Humiston:
I think within this eight to 10 month period maybe by then the rules will be a little bit less strict and we have an opportunity to be part of that.

Dan Humiston:
Well we've been speaking with Benjamin Lee the CEO of the CIFt group.

Dan Humiston:
In all there information is on the MJbulls Web site. Benjamin thanks for being on the show today. This has been really interesting and it's exciting project you're working on.

BENJAMIN LEE:
I really appreciate it again. Thanks for giving us the opportunity to be on your podcast and anybody has any questions obviously they can reach out to us through jingles. Yeah.

Dan Humiston:
Sounds good. Well good luck with this project. This is going to be fun.

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

Dan Humiston:
Thanks for listening to the MJBulls podcast. To learn more about today's guest or to become a guest. Visit our Web site at MJBulls back home. Today's show is produced by produced by mjbulls media with original music composed by Jamie Humiston.

Dan Humiston:
I'm Dan Humiston and you've been listening to the MJBulls podcast.

Convert audio to text with Sonix. Sonix is the best online audio transcription software

Sonix accurately transcribed the audio file, “MJBulls 0095 Cift Group f.mp3” , using cutting-edge AI. Get a near-perfect transcript in minutes, not hours or days when you use Sonix. Sonix is the industry-leading audio-to-text converter. Signing up for a free trial is easy.

Convert mp3 to text with Sonix

For audio files (such as “MJBulls 0095 Cift Group f.mp3”), thousands of researchers and podcasters use Sonix to automatically transcribe mp3 their audio files. Easily convert your mp3 file to text or docx to make your media content more accessible to listeners.

Best audio transcription software: Sonix

Researching what is “the best audio transcription software” can be a little overwhelming. There are a lot of different solutions. If you are looking for a great way to convert mp3 to text , we think that you should try Sonix. They use the latest AI technology to transcribe your audio and are one my favorite pieces of online software.


Cannabis Podcast Network