IONC in the US Market IONC
Ionic Brands Corp IONC is a jewel in the rough and one to watch. They went through a strategy review in the last 6 months and already have good revenues in major US markets. Current SP is 0.13 cents down from a high of 0.46 cents 2 months ago. The share float is low at 33M. Do your own DD but this one will follow the Markets trend and appreciate quickly.
Financials quick overview
For the year ended December 31, 2019, total revenues were $10,287,447, representing an increase of 464% compared to total revenues of $1,822,682 in the prior year. The increase in revenues was primarily due to the Company's effort in introducing new products and expansion initiatives in the states of Nevada, Oregon, and California.
Debenture converted at 30 cents
The Company has provided notice in accordance with the terms of the Indenture to effect the Conversion. The Conversion will be effective on April 30, 2021. As of the date hereof, there are $16,496,000 principal amount of Debenture outstanding. The Company anticipates $15,093,840 principal amount of Debenture, including PIK payments and all accrued and unpaid interest, will be converted into approximately 59,829,261 Series D Voting Preferred Shares at $0.30 per share.
Acquisitions
Ionic Brands Corp Signs Letter of Intent for the Purchase of Assets of Precision Alchemy, LLC an Oregon Based Cannabis Oil Manufacturer
Ionic Brands Announces Closing of the Acquisition of Cowlitz County Cannabis From Lobe Sciences, Completing the Series of Transormational Corporate Transcations
Ionic Brands Corp. Signs Letter of Intent for the Purchase of Assets from The Extraction Lab (EXA)