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2019 - 2020: Logan Square and a sense of optimism.

The 2019-2020 period for Perception Cannabis (PCCS) was primarily focused on license application and development, corporate structuring, and fundraising. 2019: The journey started with identifying a potential location in Logan Square and initiating the process for dispensary license application. 2020: Activities intensified with substantial legal and consulting fees paid towards the dispensary applications and the establishment of PCCS as the dispensary license holding company. The company also engaged in fundraising activities, securing loans on convertible promissory notes. While PCCS had no bank account, debt, or income at this stage, it was clear that significant groundwork was being laid for future operations. The company was actively involved in legal and financial matters, setting the stage for the challenges and opportunities that lay ahead.

2020-2022: The Rollercoaster Years

During this period, the team faced numerous setbacks and disappointments as potential deals and locations fell through. The McHenry location, which seemed promising in late 2022, ultimately collapsed, adding to the frustration. Legal and Financial Challenges: Throughout 2022, the team navigated legal complexities and financial hurdles. They worked closely with legal counsel to draft and revise documents, while also seeking investment to cover legal fees. Regulatory Compliance: The team diligently stayed on top of regulatory requirements, submitting necessary forms and documentation to relevant authorities. Setbacks and Disappointments: Despite their efforts, the team encountered numerous setbacks, including the McHenry deal falling apart and delays in the licensing process. These challenges tested their resolve and led to periods of demoralization. Perseverance and Adaptation: Despite the obstacles, the team's commitment to the project never wavered. They adapted to changing circumstances, explored new opportunities, and remained focused on their goal of opening a dispensary. The 2020-2022 era was a tumultuous period marked by both progress and setbacks. The team's resilience and ability to navigate these challenges ultimately paved the way for their eventual success in Rogers Park.

Late 2024: A ray of hope appeared with a promising location in McHenry. Excitement grew as the deal progressed. However, the McHenry deal collapsed, leaving the team disheartened after three years of developing the dispensary license.

The McHenry deal initially showed promise, with positive interactions with city officials and indications of support for the dispensary. The City of McHenry even included Perception Cannabis on their consent agenda for an upcoming meeting.

However, the situation deteriorated when we unable to reach terms. Despite this, we expressed continued interest in the McHenry location. However, the potential partner decided to withdraw.

Despite this setback, we remained determined to bring Perception Cannabis to McHenry, indicating that we had identified alternative locations and were in contact with city officials. We also engaged legal counsel to draft contingency language for the lease agreement to protect our interests in case of unforeseen circumstances.

The McHenry deal's evolution highlights the complexities and challenges of real estate negotiations, especially in a nascent and rapidly evolving industry like cannabis. While the initial outlook was positive, unforeseen interpersonal conflicts and shifting alliances ultimately led to the deal's collapse. Despite this, our resilience and adaptability allowed us to explore alternative avenues and continue our pursuit of establishing a dispensary.

December 2024: Legal and financial hurdles added to the complexity. The team grappled with legal documents and sought investment to cover outstanding legal fees. The pressure was on as they raced to secure funding and finalize agreements.

End of 2024: Amidst the challenges, a viable location emerged in Rogers Park. The team's resilience paid off as they secured the location and prepared for the final push.

January 2025: The focus shifted to closing documents and finalizing the B-Reorganization. The team collaborated with legal counsel to ensure all requirements were met.

Present Day: Perception Cannabis dispensary successfully operates in Rogers Park, a testament to the team's unwavering commitment and ability to overcome obstacles. The journey was long and arduous, but the team's perseverance and adaptability ultimately led to success.