Phytotecnia Limited

By Phytotecnia Limited

PledgeMe.Investment

Technology,



NZ $431,100 pledged


81 people pledged


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About

Phytotecnia Limited

If you believe in the potential of medicinal cannabis and value a down to earth business approach based in science and expertise, Phytotecnia might be of interest.

With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.


Letter from the founders

Medicinal cannabis came to us naturally three years ago looking for our expertise. Initially sceptical about the potential of cannabis as a medicine, we soon became completely convinced about its possibilities. At the same time we realised the enormous challenges that a business in this industry would face: lack of scientific knowledge in basic areas of cultivation and manufacturing; emerging markets with evolving demands; and fast developing and diverse regulatory frameworks. In this context, we believe that the only possible approach to succeed in the industry is a learner’s approach: understand and acknowledge the complexity of the medicinal cannabis industry and develop a business model based on expertise, hard work, and patience.

Our approach avoids speculation and misleading information and acknowledges the legacy of those that have been working with cannabis, frequently underground, for many years.

With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.

If you have the patience and interest to read our Information Memorandum, you’ll see that this is not just another medicinal cannabis company. We have a different approach that might not be extremely attractive for conventional investors looking for rapid profits based on purely speculative forecasts. We are convinced that our approach based on science and facts, on expertise, hard work and patience, is not incompatible with high profitability, on the contrary, we believe it is the only way to succeed in the long term.

We humbly believe that Phytotecnia will be really profitable for many people in many ways. Hopefully you will reach the same conclusion after reading this information memorandum and want to join us.


Our Team

Phytotecnia was founded by us, Irene López-Ubiria and Álvaro Vidiella-Salaberry, in 2019. We are agricultural engineers with a doctorate and a masters degree in horticulture, and more than 20 years of experience in applied research and production. Originally from Spain, our nine years in NZ have seen us working as part of the leadership teams of NZ Avocado, Riversun Nursery, and Hikurangi Cannabis Company (now RUA Bioscience). In our roles, we have successfully managed multidisciplinary teams of experts to achieve the goals of each company. We are used to working in highly competitive commercial environments with complex production systems and evolving market demands.


What have we done so far?

Phytotecnia obtained a licence to cultivate cannabis for research purposes in February 2020. We will start commercial production as soon as we are granted the corresponding licence which is just pending a location inspection in the coming weeks.

We have built a dual-purpose research and production glasshouse and two indoor growing chambers, designed to produce conservatively 30 kg of medicinal cannabis dried flower monthly all year round.

phytotechnica_premises_and_progress
Pictured: Phytotecnia founders Irene López-Ubiria and Álvaro Vidiella-Salaberry

The research programme is underway. We have established strategic relationships with research entities in New Zealand and internationally in the areas of breeding and cultivation. Seeds of selected varieties have already been obtained to form the core of our breeding programme. Different cultivation parameters are being studied. We have secured funding from Callaghan Innovation to carry out our research programme during 2020-2021. We are characterising and selecting the elite lines to become the first mother plants for our commercial production. We will start the commercial production as soon as we are granted the corresponding licence which is expected in the next weeks.


What's Next?

We will start producing dried flower, and once GMP certification is obtained, we will include extracts in our product portfolio. We will in parallel advance in our research programme optimising the production system, and in characterising and selecting our breeding lines so we can offer dried flower and extracts with different therapeutic properties produced from varieties adapted to commercial cultivation and manufacturing environments.


What are the risks/challenges our company faces?

In our Information Memorandum we have included a list of the main risks that Phytotecnia will face and how we mitigate them. We have focused on the risks inherent to a new company in the cannabis industry that can have a significant impact on its performance or viability.


A Note from PledgeMe

We have completed a Veda check on the company and its Directors, as well as Google checks. There were no other adverse findings. The Directors have also all passed police vetting and responsible person's tests as part of the cannabis research license approval.

 

Updates 1

You need to pledge to see this update.

    Details

    Offer Details

    Current Valuation 6,000,000
    Raise Minimum 500,000
    Raise Maximum 2,000,000
    Share Price 1.00
    Maximum Shares Offered 2,000,000
    Explanation of valuation:

    To value our Company is something that makes us feel quite awkward. To make a valuation based on enterprise values of comparative players that do not have a record of performance, in an industry that is just starting, does not make much sense. Without a record of performance, these enterprise values are based on forecasts made by the companies themselves, estimating their own capability to perform. However, we understand that we need to value our Company to determine the price of the shares that we are offering.

    In November 2019, BDO estimated a post-money valuation for Phytotecnia between NZD 10 M and NZD 20 M, based on our business plan and on enterprise values of other New Zealand medicinal cannabis companies when raising capital. Back then we did not have the licence to grow cannabis for research purposes, the glasshouse that currently is finished was only a plan and the Medicinal Cannabis Scheme by the Ministry of Health was not approved yet.

    Considering the above and being true to our philosophy of avoiding speculation and being real and honest, we have concluded that a pre-money valuation of NZD 6 M is a fair value.

    Financial Summary

    Prev Year Current Year Est. FY 2022 Est. FY 2023
    Revenue NZ $25,775 NZ $1,394,000 NZ $4,717,500 NZ $5,610,000
    Operating Expenses NZ $530,404 NZ $1,079,095 NZ $1,415,217 NZ $2,361,800
    EBITDA -NZ $504,629 NZ $314,905 NZ $3,302,283 NZ $3,248,200
    Net Profit -NZ $513,548 NZ $222,454 NZ $3,176,526 NZ $2,885,197

    Company Details

    Company Name: Phytotecnia Limited

    Company Number: 7735017

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    CertIncorporation_Phytotecnia.pdf

    (application/pdf, 587 KB, uploaded 12 November 2020)

    CompanyyExtract_Phytotecnia.pdf

    (application/pdf, 745 KB, uploaded 12 November 2020)

    Phytotecnia_Limited_-_Profit_and_Loss_-_October_2020.pdf

    (application/pdf, 27.7 KB, uploaded 12 November 2020)

    Phytotecnia_Limited_-_Balance_Sheet_-_October_2020.pdf

    (application/pdf, 28 KB, uploaded 12 November 2020)

    Constitution_Phytotecnia.pdf

    (application/pdf, 209 KB, uploaded 12 November 2020)

    Shareholders_Agreement_Phytotecnia.pdf

    (application/pdf, 407 KB, uploaded 12 November 2020)

    Phytotecnia_IM_121120_final.pdf

    (application/pdf, 2.06 MB, uploaded 12 November 2020)

    Director Details

    Name Role Profile URL Invested?
    Irene Lopez-Ubiria Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/53D37201A087210BF080A2E1B55BB5CA
    Alvaro Vidiella-Salaberry Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/4CDBDA6B03F7A861331D93432E682CB4

    Questions 4

    Ask a Question (You must login to ask a question)


    How do shareholders track the share price, and how does the value of a share get determined if a shareholder wishes to sell?

    Posted on 13-11-2020 by Alistair Ross

    Hi Alistair, thank you for your pledge!
    We are an unlisted company, so companies like us don’t have our share price visible on a public stock exchange. There is no pre-determined share price. If a shareholder was wanting to sell their shares, the conditions are detailed in the clause 16.2 of the shareholders agreement, which is in the documents attached to this campaign (under "Details"). Any further questions, please feel free to get back in touch.

    Answered on 13-11-2020 by Phytotecnia Limited


    Hi, What should I choose if I am not a new zealand citizen, but I live here in new zealand because and I do have a work visa?

    Posted on 15-11-2020 by Mary Grace Acuesta

    Hi Mary Grace,
    Sorry for not answering before, it has taken a while to find the answer to your question.
    You can pledge if you have a NZ visa. PledgeMe will ask you later for a copy of your overseas passport, and proof of your NZ address.
    Please contact us if you have further questions.

    :

    Answered on 16-11-2020 by Phytotecnia Limited


    Hi there, the process to sell shares seems quite complicated. Do you have any plans for public listing on NZX?
    Thanks Rosemary

    Posted on 20-11-2020 by Rosemary Mortimer

    Hi Rosemary, thank you very much for your question and your pledge.
    It is really difficult to know if we will list the company on NZX in the future. We can't rule out the possibility of public listing to raise funds but that is a decision that we will carefully make considering facts and information that, at the moment, we don't have.
    The sale of shares is regulated in our shareholders agreement (which is in the documents attached to this campaign, under "Details"). We believe that the Company has to facilitate the sale of shares and we are open to consider suitable mechanisms to do so.
    Any further questions, please feel free to get back in touch.

    Answered on 20-11-2020 by Phytotecnia Limited


    What is the minimum number of shares offered for an individual to invest?

    Posted on 20-11-2020 by Binil

    Hello,
    The minimum number of shares you can purchase is 500. The price of each share is NZD 1, so you can invest a minimum of NZD 500.
    Please contact us if you have further questions.

    Answered on 20-11-2020 by Phytotecnia Limited

    Pledgers 81

    Donna Higgins
    2020-11-17 18:37:04 +1300
    Alice Trubshoe
    2020-11-17 16:33:07 +1300
    Lloyd Chapman
    2020-11-17 16:32:08 +1300
    Craig Murphy
    2020-11-17 14:28:36 +1300
    Glenys Parton
    2020-11-17 13:19:08 +1300
    Dardenella Warwick
    2020-11-17 10:11:50 +1300
    Eleanor
    2020-11-17 09:08:04 +1300
    Moewai Poi
    2020-11-16 22:39:49 +1300
    Tamara Poi
    2020-11-16 21:22:00 +1300

    "Me te aroha o te kaupapa!! I completely awhi this mahi with Phytotecnia Limited! I look forward to joining you on this hikoi toward hauora!"

    Pania
    2020-11-16 18:11:29 +1300

    "Gold luck. "

    Claire McGowanPledgeMe Staff
    2020-11-16 17:18:03 +1300
    Carole Sweney
    2020-11-16 16:56:03 +1300
    Kristian Brizendine
    2020-11-16 16:51:09 +1300
    John Hussey
    2020-11-16 16:08:30 +1300
    Dean
    2020-11-16 12:55:02 +1300
    Brad Siebert
    2020-11-16 12:33:50 +1300
    Carmel Callan
    2020-11-16 12:27:10 +1300

    "All the best!"

    Hamish Alexander
    2020-11-16 11:38:53 +1300
    Justine Robbins
    2020-11-16 00:06:17 +1300
    Annelies Aleida
    2020-11-15 22:30:02 +1300
    Murray Olsen
    2020-11-15 21:50:47 +1300
    John and Sue Boyle
    2020-11-15 19:11:53 +1300
    Liam Barker
    2020-11-15 18:17:51 +1300

    ""We Will Watch Your Career With Great Interest" - Shiv Palpatine"

    John and Sue Boyle
    2020-11-15 17:59:25 +1300
    Mary McSweeney
    2020-11-15 17:59:15 +1300
    Matthew Booker
    2020-11-15 16:31:17 +1300

    "Shutout to my boy Miguel for the opportunity. Best wishes to the whanau for the exciting future. "

    Catherine Barker
    2020-11-15 16:22:55 +1300
    Jon Wichers
    2020-11-15 15:49:47 +1300
    Pat Wichers
    2020-11-15 15:16:37 +1300
    Geoff Warwick
    2020-11-15 15:06:09 +1300

    Phytotecnia Limited

    If you believe in the potential of medicinal cannabis and value a down to earth business approach based in science and expertise, Phytotecnia might be of interest.

    With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.


    Letter from the founders

    Medicinal cannabis came to us naturally three years ago looking for our expertise. Initially sceptical about the potential of cannabis as a medicine, we soon became completely convinced about its possibilities. At the same time we realised the enormous challenges that a business in this industry would face: lack of scientific knowledge in basic areas of cultivation and manufacturing; emerging markets with evolving demands; and fast developing and diverse regulatory frameworks. In this context, we believe that the only possible approach to succeed in the industry is a learner’s approach: understand and acknowledge the complexity of the medicinal cannabis industry and develop a business model based on expertise, hard work, and patience.

    Our approach avoids speculation and misleading information and acknowledges the legacy of those that have been working with cannabis, frequently underground, for many years.

    With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.

    If you have the patience and interest to read our Information Memorandum, you’ll see that this is not just another medicinal cannabis company. We have a different approach that might not be extremely attractive for conventional investors looking for rapid profits based on purely speculative forecasts. We are convinced that our approach based on science and facts, on expertise, hard work and patience, is not incompatible with high profitability, on the contrary, we believe it is the only way to succeed in the long term.

    We humbly believe that Phytotecnia will be really profitable for many people in many ways. Hopefully you will reach the same conclusion after reading this information memorandum and want to join us.


    Our Team

    Phytotecnia was founded by us, Irene López-Ubiria and Álvaro Vidiella-Salaberry, in 2019. We are agricultural engineers with a doctorate and a masters degree in horticulture, and more than 20 years of experience in applied research and production. Originally from Spain, our nine years in NZ have seen us working as part of the leadership teams of NZ Avocado, Riversun Nursery, and Hikurangi Cannabis Company (now RUA Bioscience). In our roles, we have successfully managed multidisciplinary teams of experts to achieve the goals of each company. We are used to working in highly competitive commercial environments with complex production systems and evolving market demands.


    What have we done so far?

    Phytotecnia obtained a licence to cultivate cannabis for research purposes in February 2020. We will start commercial production as soon as we are granted the corresponding licence which is just pending a location inspection in the coming weeks.

    We have built a dual-purpose research and production glasshouse and two indoor growing chambers, designed to produce conservatively 30 kg of medicinal cannabis dried flower monthly all year round.

    phytotechnica_premises_and_progress
    Pictured: Phytotecnia founders Irene López-Ubiria and Álvaro Vidiella-Salaberry

    The research programme is underway. We have established strategic relationships with research entities in New Zealand and internationally in the areas of breeding and cultivation. Seeds of selected varieties have already been obtained to form the core of our breeding programme. Different cultivation parameters are being studied. We have secured funding from Callaghan Innovation to carry out our research programme during 2020-2021. We are characterising and selecting the elite lines to become the first mother plants for our commercial production. We will start the commercial production as soon as we are granted the corresponding licence which is expected in the next weeks.


    What's Next?

    We will start producing dried flower, and once GMP certification is obtained, we will include extracts in our product portfolio. We will in parallel advance in our research programme optimising the production system, and in characterising and selecting our breeding lines so we can offer dried flower and extracts with different therapeutic properties produced from varieties adapted to commercial cultivation and manufacturing environments.


    What are the risks/challenges our company faces?

    In our Information Memorandum we have included a list of the main risks that Phytotecnia will face and how we mitigate them. We have focused on the risks inherent to a new company in the cannabis industry that can have a significant impact on its performance or viability.


    A Note from PledgeMe

    We have completed a Veda check on the company and its Directors, as well as Google checks. There were no other adverse findings. The Directors have also all passed police vetting and responsible person's tests as part of the cannabis research license approval.

     

    You need to pledge to see this update.

      Offer Details

      Current Valuation 6,000,000
      Raise Minimum 500,000
      Raise Maximum 2,000,000
      Share Price 1.00
      Maximum Shares Offered 2,000,000
      Explanation of valuation:

      To value our Company is something that makes us feel quite awkward. To make a valuation based on enterprise values of comparative players that do not have a record of performance, in an industry that is just starting, does not make much sense. Without a record of performance, these enterprise values are based on forecasts made by the companies themselves, estimating their own capability to perform. However, we understand that we need to value our Company to determine the price of the shares that we are offering.

      In November 2019, BDO estimated a post-money valuation for Phytotecnia between NZD 10 M and NZD 20 M, based on our business plan and on enterprise values of other New Zealand medicinal cannabis companies when raising capital. Back then we did not have the licence to grow cannabis for research purposes, the glasshouse that currently is finished was only a plan and the Medicinal Cannabis Scheme by the Ministry of Health was not approved yet.

      Considering the above and being true to our philosophy of avoiding speculation and being real and honest, we have concluded that a pre-money valuation of NZD 6 M is a fair value.

      Financial Summary

      Prev Year Current Year Est. FY 2022 Est. FY 2023
      Revenue NZ $25,775 NZ $1,394,000 NZ $4,717,500 NZ $5,610,000
      Operating Expenses NZ $530,404 NZ $1,079,095 NZ $1,415,217 NZ $2,361,800
      EBITDA -NZ $504,629 NZ $314,905 NZ $3,302,283 NZ $3,248,200
      Net Profit -NZ $513,548 NZ $222,454 NZ $3,176,526 NZ $2,885,197

      Company Details

      Company Name: Phytotecnia Limited

      Company Number: 7735017

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      CertIncorporation_Phytotecnia.pdf

      (application/pdf, 587 KB, uploaded 12 November 2020)

      CompanyyExtract_Phytotecnia.pdf

      (application/pdf, 745 KB, uploaded 12 November 2020)

      Phytotecnia_Limited_-_Profit_and_Loss_-_October_2020.pdf

      (application/pdf, 27.7 KB, uploaded 12 November 2020)

      Phytotecnia_Limited_-_Balance_Sheet_-_October_2020.pdf

      (application/pdf, 28 KB, uploaded 12 November 2020)

      Constitution_Phytotecnia.pdf

      (application/pdf, 209 KB, uploaded 12 November 2020)

      Shareholders_Agreement_Phytotecnia.pdf

      (application/pdf, 407 KB, uploaded 12 November 2020)

      Phytotecnia_IM_121120_final.pdf

      (application/pdf, 2.06 MB, uploaded 12 November 2020)

      Director Details

      Name Role Profile URL Invested?
      Irene Lopez-Ubiria Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/53D37201A087210BF080A2E1B55BB5CA
      Alvaro Vidiella-Salaberry Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/4CDBDA6B03F7A861331D93432E682CB4

      Ask a Question (You must login to ask a question)


      How do shareholders track the share price, and how does the value of a share get determined if a shareholder wishes to sell?

      Posted on 13-11-2020 by Alistair Ross

      Hi Alistair, thank you for your pledge!
      We are an unlisted company, so companies like us don’t have our share price visible on a public stock exchange. There is no pre-determined share price. If a shareholder was wanting to sell their shares, the conditions are detailed in the clause 16.2 of the shareholders agreement, which is in the documents attached to this campaign (under "Details"). Any further questions, please feel free to get back in touch.

      Answered on 13-11-2020 by Phytotecnia Limited


      Hi, What should I choose if I am not a new zealand citizen, but I live here in new zealand because and I do have a work visa?

      Posted on 15-11-2020 by Mary Grace Acuesta

      Hi Mary Grace,
      Sorry for not answering before, it has taken a while to find the answer to your question.
      You can pledge if you have a NZ visa. PledgeMe will ask you later for a copy of your overseas passport, and proof of your NZ address.
      Please contact us if you have further questions.

      :

      Answered on 16-11-2020 by Phytotecnia Limited


      Hi there, the process to sell shares seems quite complicated. Do you have any plans for public listing on NZX?
      Thanks Rosemary

      Posted on 20-11-2020 by Rosemary Mortimer

      Hi Rosemary, thank you very much for your question and your pledge.
      It is really difficult to know if we will list the company on NZX in the future. We can't rule out the possibility of public listing to raise funds but that is a decision that we will carefully make considering facts and information that, at the moment, we don't have.
      The sale of shares is regulated in our shareholders agreement (which is in the documents attached to this campaign, under "Details"). We believe that the Company has to facilitate the sale of shares and we are open to consider suitable mechanisms to do so.
      Any further questions, please feel free to get back in touch.

      Answered on 20-11-2020 by Phytotecnia Limited


      What is the minimum number of shares offered for an individual to invest?

      Posted on 20-11-2020 by Binil

      Hello,
      The minimum number of shares you can purchase is 500. The price of each share is NZD 1, so you can invest a minimum of NZD 500.
      Please contact us if you have further questions.

      Answered on 20-11-2020 by Phytotecnia Limited

      Donna Higgins
      2020-11-17 18:37:04 +1300
      Alice Trubshoe
      2020-11-17 16:33:07 +1300
      Lloyd Chapman
      2020-11-17 16:32:08 +1300
      Craig Murphy
      2020-11-17 14:28:36 +1300
      Glenys Parton
      2020-11-17 13:19:08 +1300
      Dardenella Warwick
      2020-11-17 10:11:50 +1300
      Eleanor
      2020-11-17 09:08:04 +1300
      Moewai Poi
      2020-11-16 22:39:49 +1300
      Tamara Poi
      2020-11-16 21:22:00 +1300

      "Me te aroha o te kaupapa!! I completely awhi this mahi with Phytotecnia Limited! I look forward to joining you on this hikoi toward hauora!"

      Pania
      2020-11-16 18:11:29 +1300

      "Gold luck. "

      Claire McGowanPledgeMe Staff
      2020-11-16 17:18:03 +1300
      Carole Sweney
      2020-11-16 16:56:03 +1300
      Kristian Brizendine
      2020-11-16 16:51:09 +1300
      John Hussey
      2020-11-16 16:08:30 +1300
      Dean
      2020-11-16 12:55:02 +1300
      Brad Siebert
      2020-11-16 12:33:50 +1300
      Carmel Callan
      2020-11-16 12:27:10 +1300

      "All the best!"

      Hamish Alexander
      2020-11-16 11:38:53 +1300
      Justine Robbins
      2020-11-16 00:06:17 +1300
      Annelies Aleida
      2020-11-15 22:30:02 +1300
      Murray Olsen
      2020-11-15 21:50:47 +1300
      John and Sue Boyle
      2020-11-15 19:11:53 +1300
      Liam Barker
      2020-11-15 18:17:51 +1300

      ""We Will Watch Your Career With Great Interest" - Shiv Palpatine"

      John and Sue Boyle
      2020-11-15 17:59:25 +1300
      Mary McSweeney
      2020-11-15 17:59:15 +1300
      Matthew Booker
      2020-11-15 16:31:17 +1300

      "Shutout to my boy Miguel for the opportunity. Best wishes to the whanau for the exciting future. "

      Catherine Barker
      2020-11-15 16:22:55 +1300
      Jon Wichers
      2020-11-15 15:49:47 +1300
      Pat Wichers
      2020-11-15 15:16:37 +1300
      Geoff Warwick
      2020-11-15 15:06:09 +1300
      Equity Offer

      From NZ $500,000 for 7.7%

      Up to NZ $2,000,000 for 25.0%

      Share Offer

      Up to 2,000,000 Shares

      at NZ $1.00 per Share

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.