SARASOTA, FL / ACCESSWIRE / December 10, 2014 /

Dear Fellow Stakeholders: 

What is the Status of GroPro's patent application?

GroPro Systems, Inc.'s Patent Counsel, Shutts & Bowen, has advised the Provisional Patent application should be filed on or before January 15th, 2015. Once the patent is filed GroPro will be able to share pictures and demo the system with top growers. GroPro Systems, Inc. has worked with NanoVap Technologies, Las Vegas, NV, to improve the system by including upgradable built-in water / light cooling technologies and Ionic Air Purification systems. These will be available in Generation 2 soon to be in production in Las Vegas.

What is the status of the project in Chaffee County?

I met with planning and zoning officials yesterday. They advised that they are working on requests made by our MJ counsel before making application to the state. We anticipate Chaffee County's portion to be completed by end of January. Once completed, the application process, by Colorado statute will take up to 90 days from intake. That puts Chaffee county license, best case May 1, 2015. We have negotiated to buy the remaining land in the Smelter town industrial park, subject to state/local licensure, and build (3) - 7,000 square foot grow houses. This is an upgrade from the original 5,000 square foot plan.

Details on Financing:

The company has a private group of 4 shareholders who have committed to extend credit to the Company. This line is up to $3MM in non-convertible straight debt financing.

LOI's: The Company has 3 LOI's in play.

The first LOI was signed early this morning. It is a LOI to acquire a new cutting edge company specializing in the vaporizer space. They have 3 products, ranging from 69.99 to 249.00.

The second LOI is with a Northern California based soil company with unaudited revenues of $1MM per year. We anticipate it being signed in the coming days.

The third LOI is with a Colorado grow store with unaudited revenues of $557k per year. We anticipate it being signed in the coming days.

Expect official PR's on these accordingly. This falls in line with our aggressive acquisition strategy for the coming year.

Chill: DTCC's counsel reached out to our SEC counsel last week. He is in talks with DTCC and we anticipate him resolving the Chill in the near future. This is a very important detail to us and we will keep the shareholders advised of any updates accordingly.

Thank you for your time, investment. I look forward to our ongoing scheduled.

Communications and welcome your questions, comments and suggestions.

NEXT!

Antonio F. Uccello, III
President and Chief Executive Officer


SOURCE: International Consolidated Companies, Inc.

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