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Bullboard - Stock Discussion Forum Ionic Brands C.IONC

Alternate Symbol(s):  IONKF | C.IONC.W

Ionic Brands Corp is a cannabis holdings company based in Washington. It is focused on building a multi-state consumer-focused cannabis concentrate brand portfolio focusing on the premium and luxury segments. It manufactures and distributes cannabis vape pen and cannabis cartridge. The firm operates in Washington and Oregon.

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Ionic Brands > information
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joeshoeless (2) | March 06, 2022 08:14 am

Does anyone have any info on what is going on? Lobe unloads 40 million shares. does it still have its prefered shares? were they unloaded because the company didnt pay the 13 percent interest on prefered shares . Is the company still solvent. any info is welcome.

RE:information

QcTrader (28) | March 07, 2022 05:21 am

Long story very short... 

$LOBE has converted their shares and liquidating on the open market.. most likely disgruntle shareholders from failed RTO from previously announced deal. 

$IONC is bone dry with cash... however isnt in "default" for what i know.

It has always been the plan for LOBE to sell their shares of IONC. 

Will IONC survive this madness with their cash position? i dont know.

They certainly need a big brother or some inflow of capital to survive this.

A new management would also be a positive sign for me. 



 

joeshoeless wrote: Does anyone have any info on what is going on? Lobe unloads 40 million shares. does it still have its prefered shares? were they unloaded because the company didnt pay the 13 percent interest on prefered shares . Is the company still solvent. any info is welcome.

 

RE:information

LongTbuffet (1) | March 07, 2022 12:02 pm

Just the assets alone are worth $34,000,000 and sales of $20,000,000 a year. IONC is worth way more than 0.005 cents. But in this word, Cash is king. They need a buyout or merger like yesterday. At the end, shareholders at 5 cents under will be rewarded. Anything over that could be a loss.

RE:RE:information

Bullknit101 (63) | March 18, 2022 09:07 am

Why doesn't a big MSO like Curaleaf do a tuck in acquisition of Ionic? This is literally a penny stock and the risk profile must be huge. I was tempted a few times to buy in but held off. The market cap sits at 1.4M which is a nano cap. What's the incentive to buy here? I take it they have mounds of debt and are unprofitable despite decent revenue. West coast market high stiffiling taxes too.