High Times may go public on April 20

High Times Holdings CEO Peter Horvath said the company is working on entering the stock markets, the news portal announced. cheddar. High Times is consolidating all the requirements of the Securities Exchange Commission, similar to the CMVM, and entry may take place on 20 April.

High Times Magazine is the magazine of the wider media company High Times Holding and has been a constant presence in cannabis culture since it began its open, focused coverage of cannabis legalization in the early 70s. her iconic role in the history of cannabis has not saved her from the problems plaguing the communication industry and the spread of cannabis.

In May 2020, Horvath assumed the role of CEO and succeeds a series of directors whose goal was to enter the public capital markets. High Times has been trying since 2017 to list itself on the public market. Expectations have diminished over time, mainly from the Nasdaq listing and eventually the current over-the-counter mini-IPO plan was the option. The company's long-awaited debut depends on its compliance with the Securities Exchange Commission, which requires up-to-date financial reports to be filed and made available to investors. High Times cannot close the offer, according to Marijuana Business Daily, until it presents and releases semi-annual financial statements for the end of 2019 and the first half of 2020, which Horvath said could be ready as early as March.

“Our audits are progressing. We are closing our books from last year, and that qualifies us to move forward. And that's imminent. We are a few weeks away from moving forward,” Horvath said.

The CEO insists the company is in a much better position than it was in 2019, when it disclosed, in its latest semi-annual report, that “recurring operating losses, shortfalls in net operating cash flow and a cumulative shortfall” meant there was “substantial doubt ” that the company could even continue to operate a year after listing. Horvath said the second half of 2021 will be when investors will start to see the results of retail efforts, including “more assets on the balance sheet” and debt that “has been paid off to some extent.”

Horvath also believes his retail experience can guide the company on the path to success, having held executive positions at DSW, American Eagle and L Brands, the parent company of Victoria's Secret. His latest role was as CEO of Green Growth Brands, a CBD consumer packaged goods company backed by the Schottenstein family, which went bankrupt in the midst of the pandemic. Horvath said he plans to apply the same retail fundamentals he's learned over his decades of experience. “We were able to win over teams, increase traffic to stores and dramatically increase average dollar sales and simply, with all the things I've learned in 37 years, especially working very closely with some of the most successful merchants in the world. We're finding that yes, retail fundamentals really do matter in cannabis,” he explained.

High Times plans to open four additional retail stores by the summer. Additionally, through a licensing deal with CSE-listed Red White & Bloom, Horvath said the company could have 30 to 40 High Times-branded dispensaries by the end of 2021. industry regarding the possibility of federal cannabis reform under the administration of President Joe Biden.

While he doesn't want to be specifically predicting when the federal ban on cannabis in the U.S. might end, he said he was encouraged by House Democrats' support for the Cannabis Opportunity Reinvestment and Purge Act (MORE, its acronym). English) and optimistic about the approval of the Safe and Fair Banking Act (SAFE). “We are very optimistic and I think that the markets, in fact, are reflecting that optimism”, he concluded.