Blum Holdings sells Blüm Oakland and Blüm San Leandro for total $3.18M in liability assumption

BLUM HOLDINGS, INC.

Sold all shares of Blüm Oakland ($2.06M) and Blüm San Leandro ($1.12M) to VLPS, LLC via assumption of liabilities.
Pro forma balance sheet as of June 30, 2024 shows total assets reduced $3.9M to $34.4M and liabilities reduced $4.6M to $57.5M.
Pro forma net gain on disposal of $725K (H1 2024) and $283K (FY 2023) as assumed liabilities exceeded net assets.
Pro forma continuing ops net income $5.1M (H1 2024) vs. net loss $12.7M (FY 2023) after removing disposed entities.
Transactions closed on November 5, 2024 with buyer VLPS, LLC.

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