SF Gate & GMR Harbourside Report | Where to buy Skittles Moonrock online
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SF Gate
Oakland’s pioneering Harborside cannabis dispensary It is the most influential cannabis dispensary of America. It was founded in 2006 and has since become the largest dispensary in the world. Reality showMembers of Congress defended marijuana before it was legalized, and this helped pave the road for its legalization.
Harborside was broke on Friday. The dispensary went from being a poster child of cannabis reform to an example of the California cannabis industry is facing financial difficulties.
Harborside’s Parent company StateHouse Holdings owes over $100 million, almost as much as the company’s total assets. According to reports, one of the company’s creditors asked a California court on Thursday to put the company in receivership. Green Market Report.
This report is available at
https://www.sfgate.com/cannabis/article/historic-bay-area-harborside-financial-trouble-19798195.php
The PR summary for 2024 is a good indication of where things are heading.
August 29, 2024
Q2 2024 Gross Margin remains strong at 50.8 % and Q2 2024 net revenue increased by 10% to $27.8 million. StateHouse Holdings Inc. achieved a positive net income of $0.2 million and adjusted EBITDA of $4.99 Million.
August 8, 2024
SAN DIEGO AND TORONTO, August 08, 2024, (GLOBE NEWSWIRE), — StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), an integrated vertically-integrated cannabis company based in California, is pleased announce that the Canadian Securities Exchange (CSE) has informed the Company that its shares are listed on the Canadian Securities Exchange.
August 1, 2024
Q1 2024 Gross Margins Remain Strong at 46.5% Gains In Cultivation Output And Market Share Amidst Successful Reductions Now Positioned As The 4th Largest Cannabis brand Operator in California Kevin K. Albert Appointed To The Board Of Directors SAN DIEGO AND TORONTO, August
June 7, 2024
SAN DIEGO AND TORONTO, JUNE 07, 2024 (GLOBE NEWSWIRE) — StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), an vertically integrated California-based cannabis company, announced today that it would report its financial results.
May 8, 2024
SAN DIEGO AND TORONTO, MAY 08, 2024 (GLOBE NEWSWIRE) — StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), the California-focused vertically integrated cannabis firm, announced today that the Ontario Securities Commission has approved the company’s April 19, 2024 press release.
April 19, 2024
SAN DIEGO AND TORONTO, APRIL 19, 2024 (GLOBE NEWSWIRE) — StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), an integrated vertically-integrated cannabis company based in California, announced today that the Ontario Cannabis Regulation Act has been passed.
April 15, 2024
Update on Annual Filings Timing SAN DIEGGO and TORONTO, April 15, 2024, (GLOBE NEWSWIRE), — StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), an integrated vertically-integrated cannabis company based in California, announced today that Felicia Snyder was appointed as the Company’s Chief Financial Officer.
January 17, 2024
SAN DIEGO AND TORONTO, Jan. 17, 2020 (GLOBE NEWSWIRE), StateHouse Holdings Inc. StateHouse Holdings Inc. (CSE:STHZ) (OTCQB STHZF), a vertically integrated California-focused cannabis company, announced today that J. Roy Pottle resigned as a director.
Source: https://www.statehouseholdings.com/news-and-events/news
The GMR report
Pelorus reports that StateHouse defaulted four loans.
Pelorus Fund Reit, LLC filed a lawsuit in a California court on Thursday to place StateHouse Holdings Inc. into receivership (CSE:STHZ) (OTCQB STHZF).
Pelorus reports that StateHouse defaulted four loans. The private mortgage REIT has requested the immediate appointment a receiver in order to take control. StateHouse’s Assets and operations
Pelorus CEO Dan Leimel stated in a statement that “we believe a court-appointed receivership will better position StateHouse for more effectively producing and delivering high-quality products to the benefit of its main constituents.” Statement.
Leimel stated that the action was taken to “protect StateHouse employees and customers, as well as business partners and vendors. This will enable the business to continue operating across its production footprint and distribution footprint.”
According to a recent Analysis of the Various Viridian Capital Advisors estimates that the company’s total debt is $122.79 and its tangible assets are valued at $123.47. Viridian Capital Advisors estimated that assets worth $98.78 millions, or 80% of the book value, could be liquidated by the company to pay creditors. Creditors could recover up to 80 cents for every dollar owed.
Viridian noted StateHouse consistently ranks among the weakest credits on their rankings. This makes the “generous and high potential” workout value surprising.
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