According to an article at the New York Post, High Times Holdings, the publishers of High Times Magazine, is facing financial burden from debts it holds from investments. High Times also owns rival magazines Dope, Culture and Green Rush Daily.
According to the article: “Its crowdsourced IPO has stalled. It recently hired Toronto-based Lazer & Lazer to search for a new backer as it tries to dig out of $105.2 million in debts. In its most recent earnings report, Hightimes Holding incurred a net loss of $11.9 million for the 6 months ended June 30, 2019, on revenue of $10.7.”
in its latest SEC filing to shareholders, the company said: “Because of recurring operating losses, net operating cash flow deficits, and an accumulated deficit, there is substantial doubt about the company’s ability to continue as a going concern for one year from the issuance of the financial statements.”
High Times Holding is controlled by Adam Levin’s Oreva Capital, according to this New York Post article.
Tin Shingle wrote about High Times earlier this year.