Blum Holdings Inc (BLMH)

[kevindenver]

I noticed that, but it's an odd price driven "lock-up" per this formula:

Pursuant to the Securities Purchase Agreement, we also entered into a one-year Lock-Up Agreement (the “Lock-Up Agreement”), dated January 25, 2021, with the selling stockholders who are party to the Securities Purchase Agreement. Such selling stockholders agreed, subject to the certain limited exceptions, not to sell or otherwise transfer their Notes, Warrants, Conversion Shares and Warrant Shares. The restrictions contained in the Lock-Up Agreement are removed if the closing price of our common stock is at or above $0.30 for ten consecutive trading days with minimum volume of at least $250,000. The lock-up restrictions are reinstated in the event our common stock closes below $0.30 for three consecutive trading days. In addition, such selling stockholders agreed not to pledge, sell, contract to sell, grant any option or contract to purchase, purchase any option or contract to sell or otherwise dispose of, directly or indirectly, on any trading day, shares of our common stock in excess of 10% of the average trading volume of during the preceding five trading days. We entered into a substantially similar Lock-Up Agreement with Mr. Peterson with respect to his Warrants and Warrant Shares and the 16,485,714 shares we issued to him on January 25, 2021 in connection with the cancellation and conversion of his Series A preferred stock.

It will be interesting how soon we see the insider selling at $0.30 and if form 4's will need to be filed.

The devil is ALWAYS in the details on the OTC.

The prospectus:
https://ir.unrivaledbrands.com/all-sec-filings#document-6138-0001477932-21-004131