Business
Global Consortium, Inc. Year End Update
Global Consortium, Inc. Year End Update.
About this update from Aj1g Inc.
[{"type":"text","content":"\n\n\n\nGlobal Consortium, Inc. Year End Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGlobal Consortium, Inc. Year End Update\nPR Newswire\nCOCONUT CREEK, Florida, Dec. 23, 2019\n\n\n\nCOCONUT CREEK, Florida, Dec. 23, 2019 /PRNewswire/ -- InvestorsHub NewsWire -- Global Consortium, Inc., (OTCPINK: GCGX) would like to take this time to issue a 2019 year-end progress report, and provide an outlook for the start of 2020.  \nCurrently owned assets:\nWe often receive inquiries from shareholders as to what is owned and not owned by GCGX. All of the assets within the building are owned by GCGX. The brand Indulge Oils is owned by GCGX. The Master Lease is controlled by GCGX. And once purchased, the building itself will be owned by GCGX. The Company can lease these assets and provide other management services to additional operating companies to generate monthly revenue.\nBuilding status and permits:\nIn June 2019 GCGX received the permit it was waiting for to complete work on the space the Company leases in Sacramento, CA. The Certificate of Occupancy (CO) was finally issued in October of 2019, well over a year after the initial application for the manufacturing licenses were made. GCGX continues to experience delays primarily due to the time it takes regulators to issue building and other permits, however the number of new permits required is greatly reduced and GCGX expects to pass through this issue in 2020.\nEven though the CO was issued, the City of Sacramento still needs to issue one additional permit for the installation of a vent pipe through the roof for the roto vape. The permit is supposed to be issued this week and if so, the vent will be installed immediately thereafter.\nIndulge Oils:\nThe last two stages of the oil manufacturing process cannot be completed until the permit for the vent pipe is issued and the vent installed. In the interim, Indulge ...