Indicative-Testing, LLC. | Application Preview
Indicative-Testing, LLC is seeking government grant funding to sustain its operations and support its employees amidst challenges that have delayed its launch, such as COVID-related issues and equipment failures. The funding will help cover salaries and other operational costs, as several employees are currently on reduced or no salaries and are unable to continue in this situation much longer.
The company has a clear business plan that addresses the needs of both the adult and medical cannabis testing markets in Maine. With a backlog in the adult use market and the absence of adequate labs for the medical use sector, Indicative-Testing aims to meet the growing demand and comply with future mandatory testing regulations. The company is also looking to expand its operations with the construction of a second site within five years to serve the increasing needs of medicinal caregivers.
Indicative-Testing highlights its competitive advantage, emphasizing that it was specifically designed for cannabis testing with superior technology tailored to the industry. Unlike its competitors, which are primarily out-of-state labs, Indicative-Testing is locally owned and operated by Maine residents, appealing to customers who prefer supporting local businesses. The team consists of experienced professionals who have a proven track record of success in the industry, having invested significant resources into establishing top-tier analytical services in the state.
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General Information
Business Registration Number: 20214664DC
Location: North Waterboro, ME, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $1M to $10M
Annual Gross Expense: $100k to $250k
Open to Loans: NO
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Funding Usage
This money will not only keep the lights on for us, but provide benefits and salaries to our employees. We have had to deal with circumstances out of our control(covid illnesses, DOA test equipment, etc.) which has lengthened our startup. This has resulted in us using up alot of our funds set aside for this ramp up period. We are very close to the finish line, with a few more certifications to achieve full state licensing. Many of the employees have gone salary free or reduced salary for quite some time, and cannot afford to do so very much longer.
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Business Plan
Currently the state only requires testing for the adult use market, due to the lack of labs available for the much larger medical use industry($300M+annually). The current adult use market alone is backlogged for testing. With this in mind, Indicative-Testing was built to handle a large demand and will provide the state with ability to help the adult use industry and begin the process of mandatory testing requirements for medical use. To accommodate the 2200 medicinal caregivers, Indicative-Testing has the ability to increase throughput at the current location, and to build a second site in central Maine within the next 5 years. We have been planning this business for years. We hand picked eachother based on ability, achievement, and drive. We all not only have the experience of working with eachother in a world class capacity for many years, but a huge amount of success to show for it. We believe in eachother. We all left promising careers and have invested millions of dollars to provide the best, newest, and fastest analytical services in Maine.
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Self Identified Competition
There are 3 licensed labs. Nova Analytic Labs (Portland)is the only lab providing all state required testing. Catlab LLC. (Elliot) and Nelson Analytical (Kennebunk) are also licensed, smaller labs. While labs have adapted to provide cannabis testing services, Indicative-Testing was built specifically for cannabis. Our suite of analytical equipment was specifically designed for this industry and has been proven for many years. Our Equipment is superior technology to our competitors and also features a dedicated technical support team. And we are the only lab owned and operated by Mainers!! The others are owned out of state and we know when given the option, most will choose local services to keep Maine strong.
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