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<br />Until then, Blüm SL will require that any contracting laboratory will conduct their testing as required by the <br />MMRSA, pursuant to Licensed Manufacturers and Licensed Laboratories Article 10 section 19342. This <br />section requires that a laboratory adopt “a standard operating procedure using methods consistent with <br />general requirements for the competence of testing and calibration activities, including sampling, using <br />standard methods established by the International Organization for Standardization, specifically ISO/IEC <br />17020 and ISO/IEC 17025 to test medical cannabis and medical cannabis products that are approved by <br />an accrediting body that is a signatory to the International Laboratory Accreditation Cooperation Mutual <br />Recognition Arrangement.” Blüm SL has already commenced negotiating this requirement with Blüm <br />Oakland contracted testing providers in expectation of meeting this State requirement. <br />2. E- Conflict with Federal Requirements <br />Blüm SL is not associated with a federally funded Federal Qualified Health Center. Thus no conflicts will <br />exist between Blüm SL operations and federal funding requirements. <br /> <br />2. F- Mergers and Acquisitions <br />In January 2016 Blüm Oakland and Terra Tech Corp. publicly announced a merger of the two companies. <br />For several years Terra Tech Corp and Blum Oakland had enjoyed a synergistic relationship, anchored by <br />a shared executive leadership team. In 2015, the two companies began in earnest to work cooperatively to <br />help streamline operations and improve focus on further research. The two companies also worked <br />together on product development and market expansion, while improving service delivery to patient <br />members. Near the end of 2015, the proposed merger was disclosed to the City of Oakland and to the <br />Securities and Exchange Commission, and was approved by both. <br /> <br />To date, in the medical cannabis and technology sector, Terra Tech Corp., whose subsidiaries include Blüm <br />Oakland, is the only publicly traded company. As a publicly traded company, Terra Tech. Corp. and Blüm <br />Oakland must each comply with the reporting and audit requirements of publicly traded companies. For <br />example each company must satisfy GAAP audit and reporting standards. Arguably making Blüm <br />Oakland the most transparent medical cannabis dispensary in the country. Consequently shrinkage, loss, <br />and diversion within Blüm Oakland is essentially zero. This makes transparency and auditing for the City <br />of San Leandro virtually seamless. A substantial benefit of the merger is that individuals, whose sweat <br />and intellect equity helped build Blüm Oakland from a start-up into the well-known, respected, efficient <br />dispensary it is today, are now shareholders of Terra Tech Corp. <br /> <br />Advantageously, Blüm Oakland through its relationship with Terra Tech Corp. now has greater access to <br />capital to invest in real estate, make interior and exterior improvements, promote personnel and HR <br />services, and undertake further research and develop new technologies. These benefits will enable Blüm <br />Oakland to provide even higher quality medical cannabis products safely and affordability to its patients. <br /> The merger has no bearing on Blüm SL or its participation in San Leandro’s medical dispensary permitting <br />process. Blüm SL remains a sovereign company that has no obligations to Terra Tech Corp. While Blum <br />Oakland and Terra Tech Corp. share leadership with Blüm SL, they and Blüm SL are completely separate <br />entities. However Blum SL through its affiliation with Blüm Oakland and Terra Tech Corp. will advantageously <br />have access to all technologies and resources available to Terra Tech Corp. Blüm SL will also benefit from <br />newer training and accounting procedures adopted by Terra Tech Corp.