secwatch.observer — SEC 8-K summary
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Issuer:     TREES Corp (Colorado) (CANN)
CIK:        0001477009
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001104659-23-079147
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trees Corp returns cannabis licenses to former owners; redeems 9.9M shares
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- Settlement transfers Berthoud cultivation/dispensary and Boulder MIP licenses to Green Tree entities.
- Company redeems 9,917,574 shares from Allyson Downing and Loree Schwartz in exchange for transferred assets.
- Employment terminated for CMO/Director Downing and Schwartz; no further APA payments due except $562,381 to Michael Abrams.
- Consulting agreement requires Downing entity to pay Trees $289,452 contingent on Abrams payment.
- Transaction closes pending Colorado Marijuana Enforcement Division and local regulatory approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477009/000110465923079147/0001104659-23-079147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477009/000110465923079147/tm2320714d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-079147

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