Well, it looks like the general consensus might have been (just barely) correct for once when it comes to iAnthus Holdings (CSE: IAN). The company quietly announced this morning that it would be delaying its fourth quarter financial filings yet again.
Originally scheduled to be released on April 6, 2020, the company has continually delayed the filing of its financials, while relying on an exemption from the exchange in relation to the coronavirus to do so. The latest update provided by iAnthus had indicated that the company intended to file their fourth quarter results “on or before May 29, 2020.”
In the time since that first announcement for the schedule of filing results, the company has defaulted on its debt, kicked out its CEO as a result of certain findings, seen a director resign, and is also believed to have entertained a management buyout offer while undergoing a strategic review.
Now, the company intends to file its fourth quarter financial results by the end of the filing deadline, which is believed to be June 13, 2020. iAnthus also concurrently announced that its first quarter 2020 financials would be filed by the end of the extended deadline as well.
The delay in filings was reported by an “anonymous director” to that of StockWatch this morning.
iAnthus Capital Holdings last traded at $0.46 on the CSE.
Information for this briefing was found via Sedar and iAnthus Capital Holdings Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
US Cannabis, Momentum, With Lots of Hurdles
The US Cannabis market has been a confusing ride for investors to comprehend. We have...