M&A
confidence high
sentiment negative
materiality 0.60
CFN Enterprises Inc. (CNFN): M&A transaction — CFN Enterprises closes asset purchase of RAN CoPacking; audited financials show net loss and going concern
CFN Enterprises Inc.
- Acquired co-packing and white label manufacturing assets from RAN CoPacking Solutions LLC on July 1, 2023.
- Purchased assets generated $1.775M revenue and $27,022 net loss for six months ended Dec 31, 2022.
- Members' deficit of $213,022 as of Dec 31, 2022; auditor notes substantial doubt about going concern.
- Related party transactions: $854,557 due to related party and $150,637 expenses paid by related party.
- Lease obligation: $2.56M present value of lease liability through 2027.