other material
confidence medium
sentiment negative
materiality 0.50
Trees Corp amends 8-K to add TDM LLC audit opinion; going concern and pending acquisition disclosed
TREES Corp (Colorado)
- Audit opinion for TDM LLC 2019 financials added; going concern uncertainty due to dependence on unguaranteed financing.
- TDM LLC 2020 net sales $13.5M, net income $1.29M; 2019 net sales $10.7M, net income $1.34M.
- Related party store lease with Bellewood Holdings; owner compensation $280K annually.
- Subsequent event: TDM LLC, Trees Portland, Trees Waterfront to be acquired by General Cannabis for $5M cash + shares, pending Colorado MED approval.