After seeing its lenders foreclosure on certain of its US operations, Skylight Health (TSXV: SLHG) is reporting that it no longer has any remaining material operations in the US, and is now in the process of dissolving the remainder of the US subsidiaries.
At the same time, the company is reportedly taking efforts to maximize the remaining value of the few corporate assets it still has. This process however is being forced to be expedited to the next 90 days as a result of the lack of remaining liquidity in the company.
At the same time, executives have jumped ship as the winddown proceeds. CEO Prad Sekar, President Kash Qureshi, and CFO Farooq Akhter have all exited the company, and will now assist the company through the remaining winddown process via a consulting capacity.
Information for this briefing was found via Sedar and the companies mentioned. 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.
