Ionic Brands Corp IONKF

information

[joeshoeless]

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.

[QcTrader]

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

[LongTbuffet]

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.

[Bullknit101]

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