Annuncio • Mar 15
Trees Corporation Files Form 15 Trees Corporation has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. Annuncio • Feb 11
Trees Announces Chief Financial Officer Changes Trees announced on February 1, 2025 that the company named a new chief financial officer. Mikayla Gilbert, 32, was promoted to the new role, replacing former CFO Edward Myers. Trees promoted Gilbert from within. She had previously served as the business's controller, a position she'd held since October 2023. She'll report to the company's interim CEO Adam Hershey. Gilbert worked previously for Desibl LLC, before which she held other roles at Trees Corp. from 2020-2023. Annuncio • Apr 03
Trees Corporation announced delayed annual 10-K filing On 04/02/2024, Trees Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Aug 16
Second quarter 2023 earnings released: US$0.017 loss per share (vs US$0.002 loss in 2Q 2022) Second quarter 2023 results: US$0.017 loss per share (further deteriorated from US$0.002 loss in 2Q 2022). Revenue: US$5.10m (up 58% from 2Q 2022). Net loss: US$2.04m (loss widened US$1.85m from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 50% per year, which means it is significantly lagging earnings. Annuncio • May 17
Trees Corporation announced delayed 10-Q filing On 05/16/2023, Trees Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Apr 18
Full year 2022 earnings released: US$0.098 loss per share (vs US$0.12 loss in FY 2021) Full year 2022 results: US$0.098 loss per share. Revenue: US$13.4m (up 127% from FY 2021). Net loss: US$9.57m (loss widened 14% from FY 2021). Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.029 loss per share (vs US$0.019 loss in 3Q 2021) Third quarter 2022 results: US$0.029 loss per share (further deteriorated from US$0.019 loss in 3Q 2021). Revenue: US$3.18m (up 91% from 3Q 2021). Net loss: US$2.78m (loss widened 116% from 3Q 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 2 independent directors (4 non-independent directors). Interim CEO & Director Adam Hershey is the most experienced director on the board, commencing their role in 2020. Independent Chairman Carl Williams was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Nov 05
Trees Corporation (OTCPK:CANN) signed a definitive agreement to acquire Assets of GMC LLC. Trees Corporation (OTCPK:CANN) signed a definitive agreement to acquire Assets of GMC LLC on October 28, 2022. The purchase price in connection with the GMC Acquisition consists of cash equal to $1,200,000 payable at closing; 4,494,382 shares of common stock of the Company, issuable to the GMC members upon closing; and an amount equal to $83,333.33 per month, commencing on the 12-month anniversary of the closing, and continuing each month thereafter for a total of 18 months, for a total additional consideration of $1,500,000. The transaction is subject to Colorado Marijuana Enforcement Division and local licensing approval and is expected to complete in 2022. Gonnell Law acted as legal advisor to GMC. Annuncio • Oct 22
Trees Corporation announced that it expects to receive CAD 1 million in funding Trees Corporation announced a a non-brokered private placement of units for gross proceeds of up to CAD 1,000,000 on October 21, 2022. Each unit consists of (i) one 12.% secured convertible promissory note bearing a principal amount of CAD 1,000, convertible into common shares of the company at a conversion price of CAD 0.015 per common share and maturing thirty-six months from the closing of the private placement; and (ii) 66,667 common share purchase warrants of the company. Each warrant entitles the holder thereof to purchase one common share at a price of CAD 0.015 per share until October 20, 2025, subject to acceleration. Completion of the transaction is subject to the satisfaction of certain conditions precedent, including, but not limited to, receipt of all necessary regulatory approvals, including approval of the NEO. The company paid a finder's fee of CAD 7,000 in cash to certain finders in connection with the closing of the transaction.
On the same day, the company has issued 200 units at a price of CAD1,000 per unit for gross proceeds of approximately CAD 200,000. Annuncio • Sep 20
Trees Corporation (OTCPK : CANN) entered into an agreement to acquire All of the Assets of the Green Tree Entities from Ancient Alternatives LLC, Natural Alternatives For Life, LLC, Mountainside Industries, LLC, Hillside Enterprises, LLC and GT Creations, LLC. Trees Corporation (OTCPK : CANN) entered into an agreement to acquire All of the Assets of the Green Tree Entities from Ancient Alternatives LLC, Natural Alternatives For Life, LLC, Mountainside Industries, LLC, Hillside Enterprises, LLC and GT Creations, LLC on September 13, 2022. Acquisition consists of cash equal to $500,000 payable at closing; 17,977,528 shares of Trees Corporation common stock, par value $0.01 per share, deliverable at closing; and an additional $3,500,000 in cash commencing on the 9-month anniversary of the closing. The acquisition is expected to close in the fourth quarter of 2022. Transaction is subject to Governmental Approval. Cruz-Abrams Seigel LLC acted as legal advisor to Cruz-Abrams Seigel LLC. Annuncio • Sep 17
Trees Corporation announced that it has received $13.5 million in funding Trees Corporation announced a private placement of Senior Secured Convertible Note for gross proceeds of $13,500,000 on September 16, 2022. The Notes will bear interest at an annual rate of 12% and will mature on September 16, 2026. Investors have the option to convert up to 50% of the outstanding Notes into TREES Common Stock at a fixed conversion price equal to $1.00 per share. Reported Earnings • Aug 13
Second quarter 2022 earnings released: US$0.002 loss per share (vs US$0.017 loss in 2Q 2021) Second quarter 2022 results: US$0.002 loss per share (up from US$0.017 loss in 2Q 2021). Revenue: US$3.24m (up 363% from 2Q 2021). Net loss: US$182.9k (loss narrowed 83% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Annuncio • Jun 18
Trees Corporation Appoints Campbell Becher to Its Board of Director Trees Corporation announced the addition of Campbell Becher to the board of directors. Mr. Becher joined Haywood Securities Inc. in 2016 as a Managing Director focused on Special Situations. He has been actively involved in the investment industry since 1993. Mr. Becher spent eight years in retail at RBC Dominion and BMO Nesbitt Burns before pursuing merchant banking for six years with Bearbeech Capital and Becher McMahon. From 2008-2014, he served as President & CEO of Byron Capital Markets Ltd., an investment bank headquartered in Toronto with offices in Montreal and Vancouver. Reported Earnings • May 15
First quarter 2022 earnings released: US$0.009 loss per share (vs US$0.038 loss in 1Q 2021) First quarter 2022 results: US$0.009 loss per share (up from US$0.038 loss in 1Q 2021). Revenue: US$3.57m (up 450% from 1Q 2021). Net loss: US$866.3k (loss narrowed 63% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Interim CEO & Director Adam Hershey is the most experienced director on the board, commencing their role in 2020. Independent Chairman Carl Williams was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 28
Full year 2021 earnings released: US$0.12 loss per share (vs US$0.16 loss in FY 2020) Full year 2021 results: US$0.12 loss per share. Revenue: US$5.93m (up 149% from FY 2020). Net loss: US$8.43m (loss widened 2.0% from FY 2020). Annuncio • Jan 07
General Cannabis Corp (OTCPK:CANN completed the acquisition of Assets of Trees Waterfront, Trees MLK and Trees Portland LLC. General Cannabis Corp (OTCPK:CANN) entered in an agreement to acquire Assets of Trees Waterfront, Trees MLK and Trees Portland LLC for $11 million on April 18, 2021. As part of the consideration General Cannabis Corp is paying $0.588 million in cash, $0.88 in cash in 24 equal installments from the date of closing and issued 11.39 million shares of General Cannabis. In a related transaction General Cannabis Corp will also acquire Assets of TDM, LLC and Station 2, LLC. General Cannabis has also agreed to employ Trevor Hoffman, managing member of the Oregon Sellers, to serve as the Head of Retail and President of the Retail Dispensary division for a term of two years, with standard one-year auto-renewals. Closing of the transaction is subject to standard closing conditions, including regulatory approval of the transfer of the cannabis licenses by the applicable Colorado and Oregon cannabis regulatory authorities, consummation of due diligence, subject to a two-year non-competition and non-solicitation covenant prohibiting such parties from engaging in (other than with respect to the Assets), the cultivation, manufacture and sale of marijuana or marijuana-related products, and/or dispensaries in respect thereof, lock up agreement and employment agreement. David Wunderlich of Hoban Law Group acted as legal advisor to General Cannabis Corp. Perry N. Salzhauer of Green Light Law Group acted as legal advisor to Trees Waterfront, LLC, Trees MLK Inc and Trees Portland, LLC.
General Cannabis Corp (OTCPK:CANN) completed the acquisition of Assets of Trees Waterfront, Trees MLK and Trees Portland LLC on January 5, 2022. General Cannabis Corp. completed the acquisition of substantially all of the assets of Trees Portland, LLC and Trees Waterfront, LLC, representing a portion of the overall Trees Oregon transaction on December 30, 2021, and on January 5, 2022, the Company completed the acquisition of substantially all of the assets of Trees MLK Inc. representing the remaining Oregon dispensary. Reported Earnings • Nov 13
Third quarter 2021 earnings released: US$0.019 loss per share (vs US$0.011 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$1.67m (up 5.1% from 3Q 2020). Net loss: US$1.29m (loss widened 100% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Annuncio • Sep 15
General Cannabis Corp announced that it has received $1.18 million in funding General Cannabis Corp announced a private placement of 1,180 units at an issue price of $1,000 per share for gross proceeds of $1,180,000 on September 13, 2021. Each unit consists of one series A convertible preferred stock and 300 warrants. The preferred shares are convertible into 1,000 shares of its common stock at a conversion price of $1 per share. Annuncio • Sep 09
General Cannabis Corp (OTCPK:CANN) acquired Trees Dispensary. General Cannabis Corp (OTCPK:CANN) acquired Trees Dispensary on September 8, 2021.TREES Founder & Chief Executive Officer, Tim Brown, officially joined the Board of Directors and the Nominating Committee of the Board.
General Cannabis Corp (OTCPK:CANN) completed the acquisition of Trees Dispensary on September 8, 2021. Reported Earnings • Aug 13
Second quarter 2021 earnings released: US$0.017 loss per share (vs US$0.042 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$698.6k (up 26% from 2Q 2020). Net loss: US$1.05m (loss narrowed 45% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Annuncio • Jul 23
Richard Cardinal entered into an Asset Purchase Agreement to acquire Next Big Crop from General Cannabis Corp (OTCPK:CANN) for $0.15 million. Richard Cardinal entered into an Asset Purchase Agreement to acquire Next Big Crop from General Cannabis Corp (OTCPK:CANN) for $0.15 million on July 16, 2021. The purchase price for the sale consists of a payment by Buyer of $0.075 million payable upon signing, an additional $0.075 million payable within one year of the closing, and ten percent (10%) of profits generated by Buyer in the states of Michigan, Mississippi and Massachusetts for a period of twelve months from the Closing. As part of the Agreement, General Cannabis Corp shall transfer the trade name associated with NBC to Richard and will discontinue its Operations Consulting and Products Segment. The Board of Directors approved the Agreement in furtherance of its previously disclosed plan to identify and acquire licensed cannabis assets that will allow us to continue to generate cash and meet our financial commitments. The transaction is subject to approval by the State of Oklahoma and/or any counties or municipalities therein, or any other Governmental Authority, as may be necessary to consummate the transactions contemplated by this Agreement. Substantially all of the employees that performed services in NBC resigned from General Cannabis Corp as of the effective date of the Agreement. The closing is subject to standard closing conditions, as well as a condition that a significant customer of NBC pay outstanding invoices due and payable to General Cannabis Corp in the approximate amount of $0.28 million. Annuncio • Apr 03
General Cannabis Corp announced delayed annual 10-K filing On 04/01/2021, General Cannabis Corp announced that they will be unable to file their next 10-K by the deadline required by the SEC. Is New 90 Day High Low • Feb 11
New 90-day high: €1.55 The company is up 362% from its price of €0.34 on 12 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 30% over the same period. Is New 90 Day High Low • Jan 21
New 90-day high: €0.64 The company is up 127% from its price of €0.28 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 38% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: €0.56 The company is up 80% from its price of €0.31 on 02 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 16% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: US$0.011 loss per share The company reported a solid third quarter result with reduced losses and improved revenues and control over expenses. Third quarter 2020 results: Revenue: US$1.59m (up 7.2% from 3Q 2019). Net loss: US$643.5k (loss narrowed 72% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Annuncio • Sep 24
General Cannabis Corp (OTCPK:CANN) entered into definitive purchase agreement to acquire Cannasseur for $2.4 million. General Cannabis Corp (OTCPK:CANN) entered into definitive purchase agreement to acquire Cannasseur for $2.4 million on April 7, 2020. The transaction is an all-stock deal. The acquisition is subject to standard closing conditions, including approvals by Colorado state and local regulators. As of May 28, 2020, State of Colorado’s Marijuana Enforcement Division has approved the transaction. The acquisition, upon completion, would increase General Cannabis’ revenue, EBITDA and cash flow. Annuncio • Aug 15
General Cannabis Corp announced delayed 10-Q filing On 08/14/2020, General Cannabis Corp announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Jul 31
General Cannabis Corp announced that it has received $3 million in funding from Hershey Management I, LLC On July 30, 2020, General Cannabis Corp (OTCPK:CANN) closed the transaction. The company issued 2,037,500 common shares and received $815,000 in its final tranche.