IFarmIS Frequently Asked Questions
What will the money raised from the farmer investments to be used for?
The purpose of the sale of farmer shares is not to capitalize the start up of the company. This venture does not require a lot of upfront capital and we intend to grow at a pace that can be financed out of operating income. The farmer investment will be set aside as a reserve account. The farmer investment is intended to get the owner clients involved in helping the company do better. The client/investors will share in the profit of the company at low risk and in return we ask the farmer clients to advise on how to improve the services and help us promote the company to new clients.
What is the risk of losing my investment?
Your risk is very limited. The money in the reserve account can not be accessed without approval of the board. Five of the seven seats on the board will be farmer investors. A change in this policy will also have to be approved by the board.
Can I be a client of IFarmIS and not be an investor?
Yes, you can be a client without being a client investor.
Do I have to put all my acres into IFarmIS Services?
No. You can first enroll the acres that make the most sense. Your fields with the most variable soils is the best place to start. Because of soils, lease conditions, or other conditions, some of your fields may not be a good candidate for IFarmIS services.
Will a membership in a McGillicuddy Corrigan agronomic group be included with my IFarmIS services?
If a client is using $10,000 per year of IFarmIS services they will receive a free 1 year individual membership. If a client is using $14,000 per year of IFarmIS services they will receive a free 1 year operational membership.
My Manure/CSP plan requires that I sample every three years instead of 4. Is that doable?
Yes. Fields can be retested every 3 years. The service fee will be increased by $0.70 per acre to cover the additional sampling and lab fees.
Can I get all my IFarmIS data on my own computer?
Yes. You have two options here. You can load QGIS on you computer (a free open source program) which IFarmIS is also using. Your fields can be imported in a single file with no need to import individual files or do any reformatting. All the layers in the file are in standard shape file format which can also be imported into any common GIS program such as Farmworks or SMS
Will IFarmIS provide instructions to the farmer clients on how to use QGIS?
Yes, we are working very hard to create instructions for the common operations you would use to view and work with your data in QGIS. These are simple, easy to follow map based instructions.
At what time of year do I enroll my fields into an IFarmIS service plan?
We plan two different billing cycles. One will run March to March and the other will run from September to September. You can enroll fields at any time of the year, but they will be billed in the next period that starts after you enroll them.
If I have a new field that has not been tested by MCAgronomics or IFarmIS, can I still get a planting prescription for spring?
Yes. We can establish the management zones and with your guidance. Using previous yield data and possibly by importing existing soil test data, we can assign a yield goal and generate a planter prescription.