Well worth a read. Here is the introduction
Both have unpaid debts and haven’t managed to go public as planned.
It seems High Times and the company it just bought, Moxie Holdings, have a lot in common. Both companies failed to go public as planned, and both have not paid their debts.
Moxie Cannabis, also known as MXY Holdings, told investors back in 2019 that it was raising money and had a set deadline to go public on May 17, 2021. If the company missed that deadline, legally it was supposed to return the investor’s money.
MXY did not make the deadline and never went public. It also never repaid the money, which was a convertible bond totaling $35.6 million.
The investors filed a lawsuit (attached below) in California’s Superior Court in the County of Los Angeles on July 19, 2021, asking for the money to be returned, with interest. To complicate matters, there are two MXY companies – MXY D, an investment vehicle that lent the money to MXY H, and MXY H, the company that was actually going to go public.
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