Chicago Atlantic REFI provides audited FY2020 financials of its Michigan cannabis borrower

Chicago Atlantic Real Estate Finance, Inc.

Borrower's audited FY2020: revenue $22.97M, net income $7.19M, total assets $59.16M.
Borrower is a vertically-integrated Michigan cannabis operator; federal illegality risk noted in audit report.
Amendment to Jan 2022 8-K reporting loan funding; financials were previously unavailable.
Borrower's FY2020 gross profit $17.02M, operating income $7.23M, interest expense $3.99M.

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