Linked In Post Describes StateHouse Holdings (Med Men) as a “dead man walking” “A zombie company” & “It’s balance sheet and income statement are a school bus crash.”

Seth Yakatan writes on Linked In

As of Q3 2023: $2M in cash  $52M in payables  $29M in current assets  $139M current liabilities  Quarterly revenue down 20%  Operating loss – $3.5M  Net loss (pre tax) – $8M  Net income loss – $16.8M  Going concern letter as May 2023  A board member recently resigned   That’s more red flags than the Chinese Communist Party.   I’m not that smart but this math is NOT mathing.    → We’ve talked extensively about the demise of California retail. → I’m starting to pull the nails out for this coffin. →

But I just want to be clear: I have huge respect for the leadership team, and everyone at Urbn Leaf, Loudpack and Harborside.

Read his full analysis at

https://www.linkedin.com/posts/seth-yakatan_statehouses-q3-earnings-suggest-near-certain-ugcPost-7158859119456587778-TtQB/?utm_source=pocket_saves

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