ORAGIN Foods Inc V.OG.H

Alternate Symbol(s): OGGFF

Consumer Defensive Grocery Stores

Oragin Foods Inc. is a Canadian multi-pronged food company. The Company operates through a retail division, Organic Garage, and a Consumer Packaged Goods (CPG) division. The Company develops, acquires, grows and commercializes food and beverage brands through a CPG division. The Company also houses a Retail Division, which owns and operates natural and organic food retailers, Organic Garage. Organic Garage is operated through the Company’s wholly owned subsidiary, Organic Garage (Canada) Ltd. (OGC). The Company’s main business activities, through Organic Garage, are selling natural and organic products to consumers through its retail network of store locations. The Company also holds its premises leases. Organic Garage is an independent, natural and organic grocery chain with four stores operating in the Greater Toronto area.

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ORAGIN Foods Inc > Insolvency Filings Incoming?

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Comment by financemajoron Oct 25, 2022 12:43am

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Post# 35045752

RE:RE:Insolvency Filings Incoming?

?? I thought it was clear.

Company has to pay the full outstanding principal amount of the convertible debenture loan ($3M) on the 25th. On top of that, the company has accrued nearly $3M in additional short-term debt.

How does a company that has virtually no cash and is bleeding money going to get additional financing to survive? I don't see it.

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