A group seeking to legalize recreational marijuana in Michigan says it has collected enough signatures to qualify for the 2018 ballot but is struggling to pay off the professional firm it hired to gather them.
Tag Archives: Debt
Identifying companies in great financial health is important when investing in an industry like marijuana. That being said, the Canadian marijuana stocks on our list all have current ratios of at least 10x, and debt to equity ratios under 20%.
BOULDER, June 7, 2017 /Weed Wire/ — CLS Holdings USA, Inc. (OTCQB: CLSH) (or the “Company”), a diversified cannabis company, is pleased to announce that Chairman and CEO, Jeff Binder, and Board Member, Frank Koretsky, have exchanged $2,704,240 of their Notes into common stock at a fixed price of $0.25 per share.
Here’s a pot stock that should prove immune to the adverse political winds emanating from the nation’s capital as marijuana is transitioning in the public eye.
DENVER, March 15, 2017 /Weed Wire/ — MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, is pleased to announce it has retired all convertible debt on its balance sheet.
BOULDER, Colo., Feb. 21, 2017 /Weed Wire/ — Surna Inc. (OTCQB: SRNA) converted $2.76 million of its 10% convertible promissory notes, consisting of approximately $2.28 million in principal and $480,000 of accrued interest, into approximately 18 million shares of newly issued common stock and cash payments of less than $200,000.
On Feb. 9, 2017, Washington regulators shut down operations at Nine Point Growth Industries, the state’s second oldest licensed recreational marijuana dispensary.
DENVER, Oct. 7, 2016 /Weed Wire/ — MassRoots, Inc. (OTCQB:MSRT), one of the leading technology platforms for the cannabis industry, reports that all notes issued pursuant to the Company’s March 2016 offering have been repaid in full and the Company has no further obligations under the notes of that offering.
On Sept. 26, 2016, Massroots (OTCQB:MSRT) issued a letter from Isaac Dietrich, Chairman and Chief Executive Officer, on the company’s outlook for Fall 2016, including updates on the product pipeline, user growth and expense reductions, among others; however, the letter failed to address the company’s recent default on debt.
VANCOUVER, British Columbia, Aug. 30, 2016 /Weed Wire/ — Affinor Growers (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) (“Affinor” or the “Corporation), a diversified agriculture and biotechnology company with proprietary vertical farming systems, announces that the Company settles $137,910 debt with its consultants by issuing 2,758,200 common shares at $0.05 per share.
Shareholders may buy into a company based on many factors, but paying off an old debt to one of the founding fathers is probably not one of them.
Cannabis entrepreneurs may underestimate the potential for debt financing, a topic that will be explored in detail by Scott Jordan, Director of Business Development for Dynamic Funding at the Marijuana Investor Summit on Sept. 16 in Los Angeles.
BOULDER, Colorado, Aug. 12, 2015 /PRNewswire/ — Surna Inc. (OTCQB: SRNA), a technology company that engineers state-of-the art equipment for controlled environment agriculture (“CEA”) with expertise in cannabis cultivation, announced today the retirement of 21,428,023 shares of its common stock previously held by Tom Bollich, Surna’s former Chief Executive Officer, and the elimination of its outstanding debt to him.
Entrepreneurs don’t always know what qualifies as a fungible asset. And they’re not aware that many emerging businesses can gain access to finance fairly easily if their business has the right components.
We can’t help but think how the burgeoning cannabis industry is contributing to putting America back to work.
The Prairie Wellness Fund, brainchild of Michael Griffin, veteran of the hedge fund service provider HedgeACT, seeks to offer credit financing for medical-marijuana entrepreneurs.
It takes a lot of guts to start your own business. There are innumerable challenges you will have to face as a business owner, not to mention the consequences of failing. Luckily, in the United States, if your business fails and you cannot pay your bills you can declare bankruptcy.