growop technologies - buyer beware

[Captain Ginyu]

Definately a scam to me. It's too friggin easy to say if not pay, get repoed. It's seems like a gig set up to put the buyer in a position prone to failure. This also happens with people who buy into business franchises. They don't give a shit about whether you succeed or not. They only care about getting the front money, set you up for failure, then fuck you out of it. Then they repeat the same for the next unsuspecting person.
Doubt me?...I'm already a victim!

 

[supermanlives]

well how smart would it be to buy a GROW trailor and let someone tell me where to put it . ha ha ya right.

 

[Marshall]

POOR advice...NOOBS learn...now you have committed grand theft with mandatories in jail time...NOOBS...forum big talk is all this is or poster is a DUNCE...If you move THEIR trailer from its assigned place...GRAND THEFT...do you just want to go to JAIL...?

THANKS

stealing the trailer back from the repo company may not be a great idea. Not sure how it would be theft though. Maybe once the repo company has physical control etc. Repossession is a civil issue

Regardless i doubt there are any mandatory jail times


It is NOT their trailer. It is the buyers trailer, which the seller has a lien on by holding the title. Unless specifically written into the contract (which would be extremely rare), the buyer can move it anywhere they want.

And again, that would be a civil issue, breach of contract. Not criminal

I think you are the dunce

 

[cannascholar]

I heard at the grow shop today that gps devices come installed in the unit. It seems as though they have access to the ops whereabouts and possibly access to the cams. Fuckin grower scams.. it never seems to end.

 

[miltonchitlin]

Actually the original owner of growop left a trailer when he was kicked out. He came back and got the trailer in the middle of the night, repo style. There was a lawsuit over this, but in involved paying the transportation company that moved the trailer not getting paid.

The police were called, but no arrests, since the original owner of growop had the title. So the idea of repo'ing off the growop lot isn't as far fetched as it might seem.

 

[jd4083]

Hey look, more third-hand hearsay, let's all jump on the bandwagon! BOYCOTT!!!!

 

[mrktwiz]

RE> I think you are the dunce

Amen he just made my IGNORE list....

 

[VIKINGtrich]

damn thats pretty shady on the companys side seeing as they delivered the trailer late. sounds like the guy mabey shouldnt of ignored the notice and let the company know what was going on.

I think you might have missed the point... Read again, this time read between the lines and you will see...

It's about money...Sadly.

 

[Tela]

you talking about this guy. i love this grabby headline:

http://www.businessinsider.com/derek-peterson-morgan-stanley-quit-marijuana-trailer-growop-2011

 

[messn'n'gommin']

The Morgan Stanley guy puts the company in the wife's name, as he is on disability from Morgan Stanley and doesn't want Morgan to know about his business ventures.

"Danger Will Robinson! Warning! Warning!"

If that didn't send up a red flag, nobody was looking outside the tunnel.

Report his ass to the to the company or at least the IRS. They have the biggest ones hangin' and aren't a bit afraid to use it!

As for who the scum-bag, "financial banker" works for, I suggest a web search for USMC Commandant Smedley Butler + Morgan Bank.

 

[dagnabit]

dont pay your car note they will take it back.
if you go steal it from the impound lot you WILL be charged with GTA!

stealing the trailer back from the repo company may not be a great idea. Not sure how it would be theft though. Maybe once the repo company has physical control etc. Repossession is a civil issue

this type of ignorant (non)thinking will land you in chino servicing a large cell mates "account"
http://www.lemonlawcenter.com/protectyourself.html
http://www.repobiz.com/facts.html
http://www.repo-laws.com/repossession-codes/california.htm


bottom line?
dont buy shit you can't afford.
dont ignore your creditors.

this situation is not gro op tech's fault. it's the borrowers fault 1000%

 

[Phillthy]

how do you ignore a loan that comes due? repo is a viable solution. who lends out 60k based on harvesting pot? i need one of those loans.

 

[cannascholar]

Former Wall Street investment banker Derek Peterson is high on the medical cannabis business. He wants to take his GrowOp Technology startup, which sells mobile hydroponic trailers (pictured below), fans and other marijuana-growing equipment, public sometime this year:

Peterson, who used to work at Morgan Stanley (MS) and Wachovia, tells Bloomberg that GrowOp is now undergoing an audit ahead of preparing its prospectus. The company has raised nearly $1 million from some 40 private shareholders, he says. It is targeting sales this year of $2.5 million and up to $8 million in 2012.

He got into the business after discovering that marijuana dispensaries in California, which permits the use of pot to treat cancer, arthritis and other diseases, were bringing home up to $14 million a year. Sales of medical marijuana in the state last year reached $1.3 billion. In what might be called a “weedmart” strategy, Peterson wants to sell marijuana-growing gear more cheaply than other distributors, whose pricing includes steep mark-ups:

“We can operate a thriving business and do so with 60 to 70 percent margins,” Peterson said.

GrowOp’s “Big Bud” trailers start at roughly $80,000. Here’s what that gets you: a flowering room and combination vegetative/cloning chamber; high-output T-5 lighting; power-cloning machines; 16 1000-watt lights; RF protected dimmable ballasts; and 8-inch air-cooled reflectors that let growers harvest weed anywhere from weekly to bi-monthly. An optional inline nutrient doser and video surveillance system costs extra.

No leather seats? What a rip! But here’s a nice feature — you can control the whole set-up, from lighting and temperature to water and humidity levels, through your iPhone. Which is great because nothing is worse than having to cut short dinner with the wife because the damned dimmable ballast is on the blink again.

Waiting to inhale

GrowOp wouldn’t be the first public company capitalizing on the boom in medical marijuana. General Cannabis (CANA) already trades over-the-counter. It also filed this month to raise $10.5 million and list its shares on the upper tier of the OTC market.

Like GrowOp, General Cannabis isn’t directly in the pot business. Instead, more than half of its revenue comes from helping other companies manage medical cannabis clinics. It also runs WeedMaps.com, a listing of online pot dispensaries, which pay a subscription fee to appear on the site.

The company says WeedMaps attracts 600,000 visitors per month and generates more than 5 million page views. It even uses Groupon-style marketing by offering daily deals that allow medical marijuana users to get discounts — or “WeedFreebies” — at participating dispensaries (And if you don’t mind, don’t Bogart that coupon.)

General Cannabis doesn’t do huge business, but it is profitable and growing, largely through acquisition. For 2010, the company reported earnings of $1.2 million on revenue of $7.7 million, compared with a loss of $1.2 million on sales of $2.7 million the previous year.

Don’t end up in the joint

The obvious risk for such “hempreneurs,” as they are sometimes called, is the fuzz — oops, I mean law enforcement. Although 15 states allow medical marijuana use, recreational usage in the U.S. remains illegal under federal law. Even in California, the police has been cracking down on dispensaries accused of illegally pushing pot. States General Cannabis in its offer document:

Some of the business activities of some of our customers, while believed to be compliant with applicable state law, are illegal under federal law. If our customers are closed by law enforcement authorities, it will materially and adversely affect our business.

What such companies are counting on is a softening in societal attitudes toward pot and, in time, perhaps even full legalization. As one professional investor in the sector recently told Mother Jones (no public link):

“Because the industry’s moving from the black market into the light, there are just so many different ways that money can be made,” says David Abernathy, the director of Compassionate Green Financial Services, a venture-capital firm that advertises a staggering 80 percent average annual return on its marijuana-based investments. A former investment-bank analyst, he claims to have sunk more than $1 million (he won’t disclose the precise amount) into pot dispensaries, delivery services and grow ops.

Forget Silicon Valley! Humboldt County is where it’s at, dude. Now pass the Doritos.


Fuckin cock. That man needs some competition.