Integrated Cannabis Solutions,
0.0016-0.00 (-11.1%)
Oct 28, 4:00:00 PM EDT · OTC Markets OTCPK · IGPK · USD
Key Stats
Market Cap
34.52MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
8-K
Cannabis acquisition closes April 3
Integrated Cannabis Solutions' subsidiary Houdini, Inc. closes its acquisition of Houdini Labs on April 3, 2023, capturing rising California cannabis distillate prices from $550 to over $1,200 per liter amid reduced competition. This first of two deals books revenue in Q2, while the Phoenix Delivery and Genesis Distribution transaction targets June or July closure post-audits. Market stability boosts potential monthly revenue. Audits delay full integration.
8-K
Leadership shift boosts apparel growth
Integrated Cannabis Solutions shook up leadership on December 27, 2022, with Matthew Dwyer resigning as CEO, President, CFO, Director, and Chairman—no disagreements involved—paving the way for Gene Caiazzo, President of subsidiary Consolidated Apparel, to step in across those roles. Caiazzo, with a track record of boosting sales and trimming costs at Consolidated, eyes 2023 growth via new dark-garment transfer tech potentially adding 30% to revenues, an online store targeting 40%-50% margins, and 20,000 consignment shirts for another 30% uplift. Forward-looking plans hinge on execution amid market uncertainties.
8-K
Taktarov joins advisory board
Integrated Cannabis Solutions appointed UFC legend and actor Oleg Taktarov to its advisory board and as brand ambassador on December 6, 2022. This move aims to leverage his MMA and entertainment ties to promote Houdini Labs' chronic pain therapeutics and Consolidated Apparel's new sports line, targeting fighters' wellness needs. Taktarov's star power bolsters outreach. Forward-looking statements highlight potential growth, yet actual results may vary due to market factors.
8-K
Cannabis acquisitions boost revenue
Integrated Cannabis Solutions executed acquisition agreements on November 30, 2022, for its subsidiary Houdini Group to buy 100% of The Tahoe Group, a cannabis distributor and delivery service, and Global Consortium Group, a THC extraction firm, issuing 250,000 Houdini shares to seller Thomas Roland in each deal. Closings follow audited financials, with Integrated committing $500,000 to Tahoe and $1,000,000 to Global from a planned Regulation A offering; the entities combine for over $500,000 monthly revenue. Roland stays on as president for both while joining the board. Deals hinge on timely funding.
10-Q
Q3 FY2022 results
Integrated Cannabis Solutions posted a Q3 net loss of $115,912, up from $94,063 a year earlier, driven by higher professional and legal fees that lifted operating expenses 23.5% year-over-year to $100,061 while salaries held steady at $45,000. For the nine months, the net loss widened to $313,880 from $291,593, with operating losses climbing 4.2% to $269,259 amid similar cost pressures; the gap between operating and net loss stems from $44,621 in interest expense. No revenue emerged, as the company awaits closure of its apparel acquisition. Cash stayed flat at zero, offset by $100,083 in officer advances and notes, pushing total liabilities to $1.37M against a matching stockholders' deficit. The October 3, 2022, Consolidated Apparel deal closed for $1.2M consideration, including $950,000 debt assumption and a $250,000 promissory note to the seller. No free cash flow or non-GAAP metrics disclosed in the 10-Q. Yet COVID-19 lingers as a threat to nascent plans.
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