After Months Of Capital Crunch, Cannabis Company Lotus Ventures Completes Sale And Delisting
After Months Of Capital Crunch, Cannabis Company Lotus Ventures Completes Sale And Delisting
In January, the company filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act concerning a certain loan. Since December, it has been evident that the company had money troubles, writes Green Market Report's Debra Borchardt. At the time, the company issued a statement confirming limited working capital.Cannabis company Lotus Ventures Inc. (OTC:LTTSF) (CSE:J) confirmed Monday that it has finalized a significant financial transaction. The Vancouver, Canada-based business sold 1,000 common shares to a purchaser, 5008679 Ontario Limited, for about CA$2.54 million ($1.87 million). Before this deal, the purchaser only owned about 6% of the company's shares.
大麻公司Lotus Ventures Inc. (OTC:LTTSF) (CSE:J)确认周一已经完成了一笔重要的金融交易。总部位于加拿大温哥华的企业向一个购买方5008679 Ontario Limited出售了1,000股普通股，价格约为CA$ 2,540,000元（187万美元）。在这笔交易之前，购买方仅持有公司股份的约6%。
Under the deal, all other existing shares of Lotus were canceled, meaning the purchaser now owns 100% of the company. Consequently, Lotus was removed (delisted) from the Canadian Stock Exchange (CSE) and the OTC Markets on August 20, 2024. The company also plans to request the removal of a cease trade order that was issued earlier this year and will cease to be a publicly reporting company in Alberta, British Columbia and Ontario.
根据交易，Lotus的所有其他现有股份被取消，这意味着购买方现在拥有该公司的100％股权。因此，Lotus于2024年8月20日被从加拿大证交所（CSE）和场外交易市场下市。该公司还计划要求撤销本年度早些时候发布的停牌命令，并将不再是阿尔伯塔省、不列颠哥伦比亚省和安大略省的上市公司。
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还要阅读： C21报告净亏损和内华达州销售下降后表示:“通胀压力继续影响”大麻行业
Money Issues
资金问题
In January, the company filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act concerning a certain loan. Since December, it has been evident that the company had money troubles, writes Green Market Report's Debra Borchardt. At the time, the company issued a statement confirming limited working capital.
该公司于1月根据破产法和破产法案提出了意向书，涉及某笔贷款。自去年12月以来，公司的资金问题已经显而易见，Green Market Report的Debra Borchardt写道。当时，公司发表声明，确认其工作资本有限。
"To reduce the working capital deficit, the company has negotiated a reduction of approximately $628K of its debt by issuing 25,141,640 shares at $0.025 per share with warrants at $0.05 per share expiring December 5, 2028," the company stated at the time. It also clarified that the amounts were in Canadian dollars.
“为了减少营运资本不足，公司已协商降低其债务约$628,000，发行每股$0.025的25,141,640股带有行权价为$0.05的认股权证，认股权期权到期日为2028年12月5日，”该公司当时声明。它还澄清，这些金额是以加元表示的。
The money troubles seem to have begun even earlier, with its earnings report for the fiscal year 2022 ending August 31, 2022, revealing revenue of CA$1.69 million ($1.25 million) in fiscal year, a 69% decrease compared to CA$5.48 million in the fiscal year 2021. The net loss at the time amounted to CA$4.79 million, compared to income of CA$241,097 in the prior year.
资金问题似乎更早就开始了，截至2022年8月31日结束的2022财年的收入报告显示，财年营业收入为CA $1.69 million（125万美元），较2021财年的CA $5.48 million（500万美元）下降了69%。当时的净损失金额为CA $4.79 million（355万美元），而上一年度的收入为CA $241,097（17.9万美元）。
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Photo: Courtesy of Artem Avetisyan via Shutterstock
照片：由Shutterstock的Artem Avetisyan提供
