In this post I will examine this MLM cannabis company, to find out: is CannerGrow a scam.
A number of reviews about this relatively new business in the CBD industry call it a scam, but I prefer to be more objective about this.
I will present the facts to you, then you can decide if this is something worth investing your time and money into.
Though personally, I wouldn’t put my hopes onto CannerGrow because of several dubious points that raised my eyebrows as I was doing up my research about the company.
Without further ado, let’s dive right in now!
- What is CannerGrow?
- Some background about CannerGrow
- Compensation Plan
- Will CannerGrow work for you?
- Pros and cons of CannerGrow
- An alternative
CannerGrow Review Summary
Creators: Sascha Adrian Waeschle, Severin Jem Amweg, Levin Kim Amweg, and Maik Marcel Pietrowski
Product type: MLM company selling an investment opportunity in cannabis agriculture
Price: 500 EUR to 50,000 EUR
Scam / Legit? : Borderline Legit
Recommended or not? : NOT recommended
CannerGrow is an MLM company that allows investors to purchase digital cannabis plants, which will be grown physically on the farms owned by CannerGrow. The profits will be shared between the company and investors.
Though it sounds promising to ride on the waves of this up and coming industry, there are salient points not addressed properly by CannerGrow.
What is CannerGrow
To find out what is CannerGrow, let us first take a look at its home page.
It is a business that allows you to hop onto the cannabis industry as a virtual grower of the cannabis plant, by investing in your very own digital plants.
CannerGrow will physically cultivate the plants on their farms, and the profits will be split 50%-50% between the company and the investor (that’s you).
It sounds really great, especially at a time when the benefits of CBD (cannabidiol) is experienced and appreciated by a fast-expanding market. You wouldn’t want to miss getting into the industry early, by positioning yourself to reap its financial gains.
But wait, not so fast… yet.
We cannot simply trust what any company says, at face value.
In this internet age, it is also when opportunists with little to zero integrity jump on their prey, drain your retirement fund or entire life savings, and then disappear from the face of the earth.
Hence it is prudent to do your own research, which is precisely why you landed here on this page.
Let’s first study some background of the company, before examining other aspects of the business.
Brief background of CannerGrow
CannerGrow is a company founded by Cannerald, which was established in 2017 by Sascha Adrian Waeschle, Severin Jem Amweg, Levin Kim Amweg, and Maik Marcel Pietrowski.
Cannerald is a Swiss-based medical cannabis research and production company, aiming to become the biggest player in the CBD industry.
Some noteworthy points
On the Cannerald website, what struck me was the lack of information about the quality of the cannabis plants grown. For instance,
– whether they are certified organic,
– what are the best practices adopted by the company,
– are their farming methods environmentally friendly, and
– who do they sell their cannabis plants to.
Next, there is no information on the Cannerald website about their Cannermed department, which is supposedly dedicated to researching about how cannabis can benefit humans as medicine and as a food.
Considering the company was founded in 2017, with a major focus on research, and the fact that it is in the last quarter of 2019 as I am writing this, it makes me wonder what the company has been up to the past couple of years.
Products of CannerGrow
This is kind of peculiar, as there are no physical products that you can, as CannerGrow’s distributor, retail to customers.
So I would say this is very unlike your traditional MLM companies, where there are physical products that customers can buy, and you can earn commissions from.
In fact, this is more like an investment scheme.
You invest a sum of money for CannerGrow to help you physically grow some cannabis plants, and the profits get shared equally between you and the company.
For every digital plant sold, there is a physical plant on-site. The plants get harvested every 2 to 3 months. Then you can choose to have the cannabis shipped to you, or you can sell it for more significant revenue.
These are the plant packages that you can choose from, to join the program and earn from it.
What this means is that if you invest 500 EUR (for the 1 plant package), you can expect to receive 70 EUR every 2 to 3 months when they harvest it.
In about 7 harvests, you would break even on the capital of your investment. Anything beyond that will be your profits.
This sounds like an easy scheme where you pay up and do nothing but wait for the money to come in.
If you ask me, I’d say the risks are very high.
What if the business fails? I’m not saying CannerGrow will go under anytime soon, but imagine the worst case scenario: you can possibly lose all that money. And it’s not a small sum, even with the lowest priced plant package.
Every investment has its own risks.
I personally cannot see CannerGrow as an established cannabis grower. I may be wrong, but I sense that it has nothing to show for the two years that Cannerald has been in business.
You have to make your own calculated assessment, taking into account your financial situation, and how much you can afford to lose.
Only invest what you can afford to lose. Not with money that you are saving up for some important purposes.
CannerGrow’s Compensation Plan
Besides investing in the digital plants yourself, you can also earn when you refer people to invest in the scheme.
Your earnings are based on a unilevel compensation plan. Everyone whom you personally refer to CannerGrow gets placed at your level 1 referrals. There is no limit to the number that you can personally refer.
Every person whom your referrals bring in gets placed in your level 2, and so on, until 7 levels deep.
When your level 1 referral buys plants, you earn 7% commission based on whatever they buy.
Level 2 commissions are 5%, level 3 at 3%, level 4 at 2%, and levels 5 to 7 are at 1% each.
Residual income bonus
Apart from earning off purchases of your referrals, you also earn off their returns during harvests, at the same percentages as above.
Will CannerGrow work for you?
I have to reiterate that this is a very risky business, in my opinion.
There is very little solid evidence to suggest that the farming department of CannerGrow is doing very well.
Once you part with your money, you never know whether it goes into actually cultivating the plants, or if it goes to pay out to investors before you.
If it’s the latter, then this could turn out to be a Ponzi scheme.
I’m not trying to insinuate anything here, just reminding you to be prudent with whatever ventures you take on, to give it thorough thought, and consider that there are too many scammers out there these days.
I do not have the proof that CannerGrow is running an illegal operation, but I have my nagging suspicions.
Take a look at this last bit of information that I uncovered.
This shows the facilities of their two farms, this information is found on CannerGrow’s website.
Look at the discrepancy below, which is found on Cannerald’s website.
The figures for minimum and maximum number of plants, as well as the facility area do not tally.
I do not know what is happening here. How could a company that is aiming to be the leader in the industry get their numbers wrong? And it’s not like there are tons of numbers to get through.
Look at this, also taken from their website but at an earlier timing.
The second location is different. And it seems that the number of plants they claim to be able to house is so much larger, despite the area being a smaller one.
The fact that the company presents different things at different times on their website makes me question if they had really been planting cannabis these last two years.
To round up this article, let me recap and summarize the pros and cons, before I finally make my conclusion.
Pros of CannerGrow
1. Possible to earn
If this were a legitimate cannabis farming business, it is possible to earn out of your investment. Do remember that the huge risk is always there, as returns are paid out over a long term.
Even the most legitimate companies can fail, so please proceed with care if you really must go along with CannerGrow.
Cons of CannerGrow
1. Possible to lose all your money
On the other end of the spectrum, it is possible you may lose all your investment, especially if this turns out to be a Ponzi scheme that is paying investors using new investors’ money.
2. No guaranteed returns
No investment is guaranteed. Anything can happen in the CBD industry. Say (for argument’s sake) some scientist discovers there are actually harmful substances in the plant, what then? Does the whole cannabis market crash?
3. Not transparent about important information
I’m not sure what’s happening with all the numbers on land area and number of plants grown that do not tally up. This is disturbing, for sure.
Also lacking are details on CannerGrow being registered with some authority to run investment schemes.
Lastly, we do not know which companies are buying the cannabis produced by CannerGrow, to generate the revenue that they are distributing to investors. This information is vital for investors to assess whether the market for this company is stable or not.
Is CannerGrow a Scam?
No, I will not call CannerGrow a scam. But I do not trust it enough to invest in it, even if I have the excess cash to spare. There are better options than this.
You may also want to take a look at the American Cannabis Summit, if you are interested in this industry.
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If you have any concerns or questions regarding this CannerGrow review, do comment below, and we will start a conversation from there.