Blum Holdings Inc (BLMH)

[BidnessMan]

Easy answer, they were committed to the tranches and the buy back is on hold due to the inability to transfer licenses and complete the transactions that were to fund the buy back.

The State of Nevada has put a hold on the transferring of licenses.

A temporary freeze on transferring licenses in Nevada.

Aside from shutting down Helios on Friday, state officials also halted the transfer of any marijuana licenses, as recommended by the governor's task force. The department will not process any new or current license transfers, a news release on Thursday said.
"That could mean three months, one month, a week, but I think it’s prudent for the state of Nevada to put a freeze on transfers of licenses that haven't’ been vetted yet," said Will Adler, a marijuana policy lobbyist and consultant.

There are a number of marijuana establishments in Northern Nevada whose licenses currently are in the process of being transferred, but state officials need time to make sure they know exactly who's funding these licenses, and who's buying them.

https://www.rgj.com/story/news/marijuana/2019/10/20/state-suspends-helios-marijuana-cultivators-license-amid-crackdown/4032257002/