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Santo Mining Corp (OTCMKTS:SANP) Updates On Delivery Of Podwerks P40 Units

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Santo Mining Corp (OTCMKTS:SANP) reported that the company has successfully delivered and mounted two Podwerks P40 models in the Northern California region. Franjose Yglesias, the CEO, reported that the installation and delivery of the two P40 Podwerks container is done. They will get an additional order for four units in the imminent weeks from their customer, once they have performed additional requirements checks and initial quality assurance for the next order.

The buzz

Santo Mining CEO reported that they have terminated their deal with Alesca Life Technologies. Under this deal, Alesca was obligated to provide them two Eden Grow Monitoring models for their customers’ initial order. Alesca has been unsuccessful in delivering the monitoring unit and has failed to provide them a date of when they plan to deliver.

Due to these uncertainties, Santo Mining Board has voted unanimously to cancel their contract and progress in a direction where they will advance their own system in house and not rely on outside vendors.

In association with Yunnan Hemp, the company’s focus has been on market research for the launch of a new deal. This new JV will market and supply Organic Consumable Hemp Heart Seeds for the U.S. Market and Hemp offerings. Yglesias added that they have also started the design work of a new home Pod setup named the P3, which will be offered to home consumers.

The new unit will weigh less than 200 pounds and exhibit a Bluetooth monitoring application for Android and iOS tablets and phones. It will also include a HPS light and hydroponic system, UV anti-bacteria light, water filtration system, carbon air scrubber, all enclosed in an industrial polymer. The anticipated retail market price is around $2,000.

Santo Mining accountants are consolidating the derivable financials, white papers and historical financial footnotes. This has shown to be a tedious and expensive task, but the management is confident that they will be able to draft the historical financial statements so that the auditors can progress with the audit.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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