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MightyGrow, Inc. Shareholder Update #3
July 26, 2010
From: Michael LaBelle, President/CEOTo: The Shareholders of MightyGrow, Inc.
Here we go! All the concrete work has been completed, and the push-walls for the litter processing area are constructed. All equipment necessary for getting raw litter mixed, inoculated and into the eco-pods is now on site and fully operational. We have received 10 loads (250 tons) of litter from Mitchell Coaker, and the first run of MightyGrow Live™ is going into the eco-pods this week! Click on the diagram for a photo tour of the process.
Click on any photo to enlarge.
Click here for this update in PDF format.
We recently bagged 22 tons of organic poultry litter crumbles purchased from another manufacturer and wholesale pricing is very encouraging. We've been selling it for $400 per ton with no resistance, indicating that our previous projections of $300 per ton for MightyGrow Live™ are extremely conservative. For example, Lauderdale County Farm Supply in Meridian, MS bought one ton of our crumbles and the manager is happy to have a lower cost alternative to Black Hen, the product he has previously been selling for $9 per 20 pound bag ($18 per 40 pounds).
Market Research - CFO Dave Morgan has begun some comparative market research so that we can demonstrate a dollar per square foot yield per annual application when compared to other landscape products like Scotts Organic Choice Lawn Food, which sells on Amazon for $20 per 29 lb bag. Dave has developed a consignment plan that can be used where we have buyer resistance in order to sell at retail prices rather than wholesale. The plan allows for payment of a consignment commission and delivery/service fee and will be highly profitable. He has also developed our sales commission framework and policy. Although we won’t have MightyGrow Live™ ™ ready for sale for 4-6 weeks yet, we have begun running a few small advertisements to create availability anticipation. Dave has also begun contacting Dallas lawn care companies to check their interest in MightyGrow Live™ , a superior and immediately safe fertilizer at a much lower price than they are paying, and is receiving a positive response.
Machinery Update:
Ribbon Mixer & Generator: The generator & ribbon mixer are installed and working beautifully. Thankfully, Anne’s father is an expert industrial mechanic and volunteered to come for a visit to oversee the installation, and to help me service the generator and all the ribbon mixer’s motors, drives, bearings and air gate. Mitchell fabricated support structures and set the equipment, and built a walkway for access to the drive motor.
This piece of machinery accomplishes the first major step in the process of converting raw poultry litter to MightyGrow Live™ . It also gives us the ability to create custom blends and various soil amendments other than fertilizer. For example, we can mix hardwood sawdust/woodchips with the microbes to create a living mulch. We’ve done some test batches, and the end product is a beautiful mulch with a pleasant, slightly sweet caramel smell.
Litter Tender: We are calling this custom-made transport the “high-speed poop mover.” Mitchell modified a spreader body from a litter spreader truck. We will use the tender to transport material from the ribbon mixer to the eco-pods. A conveyor and spout were added, allowing us to load the Ag-Bagger hopper very quickly and easily instead of making numerous trips with the tractor.
July 1, 2010 - Video update on the Pilot MightyGrow Facility in Alabama. 2010 has been a very busy year for MightyGrow! This short video will fill you in on our progress. (6 min.) The other videos have been updated on the same page, so you might want to re-visit them also. If you've forgotten the password, request it from Anne or Dave.
A diagram and photo tour will bring you up to date on our recent equipment acquisition and installation. I am confident we will meet our goal of having MightyGrow Live™ , as well as a custom deer food plot blend, available for fall planting.
Thank you for your support! Michael LaBelle, President/CEO MightyGrow, Inc. michael@plusminerals.com
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