Greater Cannabis Company, Inc.

The Greater Cannabis Company, Inc. develops and commercializes innovative cannabinoid therapeutics. The company was formed in March 2014 as The Greater Cannabis Company, LLC and was a wholly owned subsidiary of Sylios Corp until March 10, 2017. On July 31, 2018, the company acquired 100% of the issued and outstanding Class A common stock of Green C Corporation in exchange for 9,411,998 newly issued shares of its Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock is convertible into 50 shares of common stock and carries 50 votes per share. Following this exchange, former Green C shareholders and their designees owned approximately 94% of the company's voting shares. Green C, incorporated on December 21, 2017, in the Province of Ontario, Canada, with its principal place of business in North York, Ontario, is considered the accounting acquirer. Green C owned an exclusive, worldwide license for an eluting transmucosal patch platform (ETP) for non-invasive drug delivery in the cannabis field, as described in an exclusive license agreement dated June 21, 2018, with Pharmedica Ltd. Prior to the July 31, 2018 exchange, The Greater Cannabis Company, Inc. had no assets and nominal business operations. In fiscal 2018, the company shifted its business model away from E-commerce, advertising, licensing (except for the specified license), or direct investment operations to focus on cannabinoid therapeutics.