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Virtual Medical International Inc. – Focused on creating a Fully Vertically Integrated CBD/Industrial Hemp Organization and building a Network of Different Franchise Models

Larson Elmore CEO

Virtual Medical International Inc.



Larson Elmore CEO



Why you should get into the CANNABIS BUSINESS by Larson Elmore

Interview conducted by:

Lynn Fosse, Senior Editor CEOCFO Magazine

Published – June 7, 2021

CEOCFO: Mr. Elmore, what is the overall vision behind Virtual Medical International, Inc?

Mr. Elmore: Our objective is to create a fully vertically integrated CBD/Industrial Hemp organization, including grows, product development and manufacturing, and a dedicated, broad-based distribution platform. We plan to accomplish this through targeted acquisitions of select assets and cash-flow positive companies, as well as aligning with other companies in the industry. That is the overall focus of what we plan. And we’re going to deploy this initiative using the public vehicle for raising capital and expansion.

A big part of our vision is to build a network of different franchise models. This strategy not only creates a distribution network of retail locations for our branded products, we’re also providing a turnkey business opportunity for those interested in opening their own store in the CBD space.

CEOCFO: What is the focus today? What are your first steps going to be?

Mr. Elmore: We just acquired the public company about 2 or 3 months ago, so right now the focus is on the corporate structuring. Our first objective is to complete our audits and become a fully reporting company. We will up-list from the PINK to the OTC market once all the outstanding legal work and audits have been completed. We have a team of legal advisors and auditors working to accomplish this - I expect the process will be underway for the next 60 to 90 days. Once we get it totally current and fully reporting, we’ll launch a capital-raising campaign to fund the acquisitions we currently have under agreement.

CEOCFO: What does the company understand about this sector that will give investors or potential investors confidence? Why is the company going into this realm? Where do you see the most opportunities?

Mr. Elmore: The first thing we wanted to confirm when we started looking into the CBD / Industrial Hemp space, is that it’s still on the upswing. The CBD market has been growing since legislation started changing, but we see a lot of room for expansion. There are many opportunities for acquisitions, new business development and strategic alliances, not only in the United States, but worldwide. We view it as a global initiative with many compelling reasons to getting into the space, especially with an excellent and experienced management team like ours.

Also, there is a growing understanding of CBD and its properties. Most consumers now accept CBD as a viable ingredient in products that are viewed to be beneficial for pain relief and contribute to general well-being. That acceptance is leading to more high-level players entering the marketplace. It used to be more of a Mom & Pop market, driven by people that were previously in the cannabis world, some even before industrial hemp legalization. And credit has to be given to those entrepreneurs, they helped establish many of the operating protocols that are in place today. They did the best they could in an uncertain environment, and some of them have done very, very well, of course. However, while these early adopters may be at the forefront of the market as it stands today, none have been able to establish a broadly recognized brand.

That void, combined with market awareness and growing investor interest in the sector pointed to a real opportunity for us to establish Virtual Medical as a platform for large scale distribution, of our own branded products as well as for existing companies seeking greater distribution and more profit potential. As bigger players enter the market it is becoming more about market share rather than standalone businesses. Our approach is to create a critical mass to become one of the initiatives in the cannabis sector as more significant player providing an alternative choice for a investment opportunity. Our structure as a public company provides multiple exits for the funding partners.

We not only see the public changing, but we see the corporate structure changing, with initiatives being created by some very established players moving into the space. It has opened the door for our company to become a like kind enterprise. There is ample room for competition in this emerging industry and we are participating with our business plan in this forward movement.

CEOCFO: Would you tell us about Cherry Valley Growers and Adler Properties. What do these additions add to Virtual Medical and why did you choose them?

Mr. Elmore: In the CBD / industrial hemp world, product quality is critical to success. And the best way to manage that is by establishing a relationship directly with the supplier. In the end, it becomes an agricultural play. If you grow the hemp, you control the source for your product. If you are going to process the hemp, it makes sense to own the farm. and that’s the idea behind acquiring Cherry Valley. That is the same with FarmShare in North Carolina which is a 50- acre hemp farm.

This is just part of our initial strategy to acquire the agricultural base of real estate that is licensed to grow cannabis on a per state bases. We can have more control of the cost of our products and not depend on other grower’s price points and have the ability to control testing of the product compliance.

The Cherry Valley is a 400-acre parcel in New York that includes a building which can be retrofitted as an indoor cultivation facility which we will turn into a processing operation for extraction and for growing indoors. However, both of these plays are basically to acquire for control of our agricultural production.

These farms are already licensed, so we do not have that heavy lifting of applications and approvals. Simply put, there are many opportunities like these to acquire throughout the world making our business plan scalable.

This pattern of ownership of the agricultural play is something we want to do, not only in North Carolina and New York, but also the other markets where industrial hemp farming is permitted. Therefore, the opportunity to find farms or people that do not have the funds to build them out and to get them producing, becomes some real acquisition targets for us as a global opportunity.

CEOCFO: Are there continually new methods of growing, new ways of doing it better, more technology that you may be aware of that will help as you get started? What have people learned about growing that they may not have known previously?

Mr. Elmore: There are standard ways by which you cultivate: 3 basic methods, each dictated by State guidelines. There is the “outdoor” grow which is heavily dependent on the weather and environment to produce the product - and is the most common for hemp cultivation. There is the “indoor,” grow which is how most of the marijuana business progressed as it was illegal to grow outdoors. However, the advantage of an indoor grow, of course is that it’s year-round and you can have several grow cycles. There have been significant improvements to this method over the years, thanks to the introduction of better equipment, plant genetics and production technologies from more traditional agriculture companies.

Finally, there are greenhouse grows. The greenhouse methodology is provided by various suppliers in the industry, some that basically are just the same technologies that were used to grow tomatoes and other crops.

Our interest is two-fold, depending on the site for cultivation. The first is the high level of technology for greenhouse cultivation and secondly the outdoor growing on some of these acreages, especially for hemp and for CBD production. However, on the greenhouse side, we are interested in the cultivation technology out of the Netherlands who have long histories in greenhouse production who now see hemp cultivation as a new crop to provide their technologies and experience. This tech gives an added value in quality of the product as well as risk aversion. These companies are experienced and have management tech which assures against failed crops. Because of this we are looking into using these methods for our greenhouse grows.

CEOCFO: Would you tell us about your international plans?

Mr. Elmore: One of our franchise operators, is already established and demonstrated steady growth and financial success over the past 6-years-with 150 retail stores across Europe. We intend to adapt their franchise model to the US and Canada market. They have a format that it is very conducive for someone who wants to be introduced to CBD retail market as a franchise operator. They have a proven concept, with beautiful packaging and a tremendous product catalog, all with custom packaging.

We are finalizing negotiations with them for the marketing rights for USA and Canada. With this model we do not have to re-invent any operational procedures but just expand that franchise concept, because they have everything in place and they are doing very well.

We plan our expansion of other complimentary companies that support our mission of which they are located in the international market to support our franchise models.

CEOCFO: What surprised as you became involved with Virtual Medical International? What have you learned?

Mr. Elmore: Of course, the CBD market has been a booming industry and it keeps getting better. However, the availability of capital has not been that widespread and not available for many projects. Also, because cannabis is on the Schedule 1 drug list many funders could not participate making a short supply of capital, and the investors or lenders that have been willing to risk their money, are largely for short term and very expensive terms. Many of those situations, especially those debts and equities type of plays are somewhat problematic especially if the company that received that capital, and their production does not come about like they projected then have trouble meeting the payback or yield terms.

That is not the case for CBD and industrial hemp projects, where long-term capital and more attractive rates are becoming available at a surprising rate. This trend makes our plan more attractive. This is exactly what is needed to finance the grow centers, set up franchises and build the infrastructure that is needed for the industry to align and expand.

We have chosen a public entity model, because it will facilitate our ability to secure capital -- both debt and equity -- through the public markets. The surprising thing is that the debt providers, which is a special niche in the marketplace, seek transactions that are part of fully reporting public entity. This gives them an exit via the stock and also gives them upside yield potential for their deployed funds.

CEOCFO: Would you tell us about your trademarked, “Amsterdam Café; Welcome to Your Whole Health”™?

Mr. Elmore: We have 2 proven franchise models in our roster. The first model is much like a GNC store. The idea there was to present a product on the shelf that was more than CBD. However, I think that CBD is the cultural drive to these retail stores. People are curious about what is available in the marketplace as CBD. That model also includes many health supplements, vitamins and so forth, which broadens our product offerings. So a consumer might be drawn in looking for weight loss products, vitamins or supplements and they can get those as well. That is why our tagline is “Welcome to your Whole Health.”

The model is simplistic, but a great model. It is very duplicable and the fortunate benefit about this particular franchise model is that some of the big box chains have already approved it to go into their store locations. It only requires about 1000 to 1500 sq ft to install.

The other model is in Europe as a cannabis store franchise outlet with more a flavor of Cannabis culture genre. This model has 150 stores in Europe. In that model, the size of the stores could be anywhere from 1,000 all the way up to 3,000, depending and they sell 6 categories of products from drinks, CBD and even a clothing line.

The third model is the Amsterdam Café model. This is basically a model as our corporate designed store. We are going to design it as a CONNECTION PLACE. The idea behind that is going to be where people can have an environment where they can meet, buy products and relax. However, it is going to be a larger model with coffee bar and a very minimal menu. Designed to be a place where customers can come sit, have a CBD drink and use the Wifi and connect with other customers. We want those stores to be, not just a place to go buy products, but also offer visitors a WOW experience.

CEOCFO: Very interesting and new idea?

Mr. Elmore: It is! It is a Connection of CBD on steroids as a Franchise Cafe experience venue.

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“This is just part of our initial strategy to acquire the agricultural base of real estate that is licensed to grow cannabis on a per state bases. We can have more control of the cost of our products and not depend on other grower’s price points and have the ability to control testing of the product compliance.”
Larson Elmore