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 ($1.87 million). Before this deal, the purchaser only owned about 6% of the company's shares.
大麻公司Lotus Ventures Inc. (OTC:LTTSF) (CSE:J)確認週一已經完成了一筆重要的金融交易。總部位於加拿大溫哥華的企業向一個購買方5008679 Ontario Limited出售了1,000股普通股，價格約爲CA$ 2,540,000元（187萬美元）。在這筆交易之前，購買方僅持有公司股份的約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.
根據交易，Lotus的所有其他現有股份被取消，這意味着購買方現在擁有該公司的100％股權。因此，Lotus於2024年8月20日被從加拿大證交所（CSE）和場外交易市場下市。該公司還計劃要求撤銷本年度早些時候發佈的停牌命令，並將不再是阿爾伯塔省、不列顛哥倫比亞省和安大略省的上市公司。
Read Also: 'Inflationary Pressures Continue To Impact" Cannabis Industry, Says C21 As It Reports Net Loss And Decline In Nevada Sales
還要閱讀： C21報告淨虧損和內華達州銷售下降後表示:「通脹壓力繼續影響」大麻行業
Money Issues
資金問題
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.
該公司於1月根據破產法和破產法案提出了意向書，涉及某筆貸款。自去年12月以來，公司的資金問題已經顯而易見，Green Market Report的Debra Borchardt寫道。當時，公司發表聲明，確認其工作資本有限。
"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.
「爲了減少營運資本不足，公司已協商降低其債務約$628,000，發行每股$0.025的25,141,640股帶有行權價爲$0.05的認股權證，認股權期權到期日爲2028年12月5日，」該公司當時聲明。它還澄清，這些金額是以加元表示的。
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.
資金問題似乎更早就開始了，截至2022年8月31日結束的2022財年的收入報告顯示，財年營業收入爲CA $1.69 million（125萬美元），較2021財年的CA $5.48 million（500萬美元）下降了69%。當時的淨損失金額爲CA $4.79 million（355萬美元），而上一年度的收入爲CA $241,097（17.9萬美元）。
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Photo: Courtesy of Artem Avetisyan via Shutterstock
照片：由Shutterstock的Artem Avetisyan提供
