... However as the industry began to face headwinds in 2019, cannabis companies were less inclined to spend the money for what was considered soft promotional news....
...The company is now pivoting towards a CBD e-commerce business and is paying its vendor in stock as opposed to cash. The stock was lately trading at four cents a share....
The recent outbreak of a strain of coronavirus (COVID-19) in the U.S. has had an unfavorable impact on our business operations. Mandatory closures of businesses imposed by the federal, state and local governments to control the spread of the virus is disrupting the operations of our management, business and finance teams. In addition, the COVID-19 outbreak has adversely affected the U.S. economy and financial markets, which may result in a long-term economic downturn that could negatively affect future performance. The extent to which COVID-19 will impact our business and our consolidated financial results will depend on future developments which are highly uncertain and cannot be predicted at the time of the filing of this Form 8-K, but may result in a material adverse impact on our business, results of operations and financial condition.
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