LAS VEGAS, NV / ACCESSWIRE / October 20, 2020 / MJ Harvest, Inc.("MJHI") (OTCQB:MJHI) announces that management is working with the principals of Elevated Ag Solutions, Inc. ("Elevated") to finalize termination of the relationship that arose when MJHI acquired intangible assets, including the weedfarmsupply.com website from Elevated in March, 2020. Since the acquisition, there has been insufficient marketplace interest in the soils products distributed through the Elevated website, weedfarmsupply.com. This created a scenario where the sales results and gross profit margins achieved, and difficulties in obtaining documentation of those sales and margins, detracted from - rather than were additive to -- MJHI. MJHI has tendered the assets back to the seller and is working toward a complete unwinding of the acquisition agreement with the principals of the seller. There is a possibility that MJHI will recognize a write-off or an impairment of the intangible assets acquired as a result of the discontinuation of this business, when the unwinding is complete.
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