VapeDog
2 years ago
Extension of Regulation A+ Offering
On June 30, 2022, the Company elected to extend the Company’s existing Regulation A+ offering (the “Offering”) until as late as September 30, 2022. A copy of the updated subscription agreement for the extended Offering is attached as Exhibit 4.1 to this Current Report on Form 1-U and any summary of the terms of such document is subject to, and qualified in its entirety by, the full text of such document, which is incorporated herein by reference.
The Offering is presently paused pending the Company’s completion of an audit of its 2019, 2020 and 2021 annual consolidated financial statements and preparation of unaudited consolidated financial statement for the six months ended June 30, 2020 and June 30, 2021, as well as the filing with the SEC of the Company’s annual reports on Form 1-K for the years ended December 31, 2019, 2020 and 2021 and the Company’s semi-annual reports on Form 1-SA for the six months ended June 30, 2020 and 2021.
*** Hard to get shit done when you’re High as Hell all day every day !!!
averytheindian
2 years ago
Thank you for your continued support. We want to provide you with a Q2 update and provide you with some business and industry updates. More states continue to see the light of legal cannabis and we believe the High Times brand is more relevant than ever. The current market shows that diversification in revenue sources is critical as our industry matures and evolves. Over the past few years High Times has strived to become more than just a media and events company by continuing to grow the brand in new verticals which include both plant and non-plant touching. Our myriad of revenue sources serves as a key differentiator from other cannabis companies. We feel that our brand and digital properties give us a unique ability for lead generation which will drive all facets of our business and will support new revenue streams as we continue to grow. Additionally, we have seen new opportunities in festivals other than our own (as we did at Outside lands - see below) and anticipate holding more High Times branded “Cannabis Markets” at more festivals in the years to come.
Below is an update of the different segments of High Times.
Media
Print
We hope you have been enjoying the magazine as we continue to work hard to highlight interesting and important stories that define and shape industry trends. We hope all of you receive the magazine to your homes, but if not, you can subscribe here. We recently released the Art issue which explores the work of consumers across the globe, and we’ll be covering the harvest season, women in cannabis, and our annual Best of '22 issue in the coming months.
Online
We hope you all get a lot out of reading the website, and we welcome any of your suggestions for potential stories. You can email our editors directly here.
We launched our brand new contributor section, welcoming in the leading voices from across the industry to share their perspectives, praise, and criticisms to our readers. Check out the Weirdos articles here.
Merchandise
We’ve been working on restructuring our online store starting with new apparel. We’re excited to introduce a fall clothing collection. Watch for an email from us later this month with a code exclusive to shareholders for a discount on the new apparel.
Social (IG / FB / Twitter)
Please give our new Instagram account for High Times THC products a follow @hightimesproducts
Events
Cannabis Cup
We continue to expand Cannabis Cup People’s Choice to many new markets in 2022. We recently completed competitions in Southern California, Michigan, Illinois, and Colorado. Our next competitions on deck are Alaska and Massachusetts, the former of which will be experiencing this event for the firs time. The competitions have been incredibly successful and well-received as shown by the lines of people who gather in the pre-dawn hours to participate. Please monitor the Cannabis Cup website for updated schedules and to register to judge in your state.
Other Events
Outside Lands Music Festival: We had the chance to run the cannabis marketplace in the Grasslands section of the Outside Lands Music Festival in San Francisco, CA. The festival saw over 200,000 people in attendance. Our participation in Grasslands is notable for several reasons. First off, it was great exposure letting people know that High Times runs retail stores, sells, and delivers cannabis. Secondly, we picked up significant sales over the weekend and it allowed us to refine the playbook for running cannabis sales at our own Cannabis Cup events next year as well as potentially operating more cannabis markets at other festivals.
California Cannabis Delivery & Stores
Delivery
As part of our partnership with Ginger Commerce for Direct-to-Consumer (DTC) delivery, we took part in one of the most exciting DTC brand launches with Jeeter’s, one of the leading brands in California. We’re looking forward to the launch of Buddies and many other brands in the coming months.
Stores
Our stores are performing well and view the turbulent California landscape as a potential opportunity for further growth. We continue to work with brands to run promotions that often drive traffic. We continue to stay relevant by constantly bringing in the best products under the guidance of our buyer Austin Minor.
We’re excited to announce that we have been granted a variance from the West Hollywood Business Licensing Council to approve the purchase of the Original Cannabis Cafe in West Hollywood, California. Many of you might remember this lounge being the first cannabis consumption lounge to open in the United States with the Lowell Cafe name. We’re currently making some improvements and hope to be open in September as we work with the city for the appropriate approvals. We hope that many of you will come visit us when you’re in the Los Angeles area. The lounge will enable consumption of both food and cannabis and we're aiming for it to become a staple stop for any cannabis connoisseur when they visit Los Angeles.
THC Products
The High Times cannabis brand was the #1 brand sold in our stores during the month of July. This is notable as we’re competing with all the top California brands for mindshare of our customers.
We will be exhibiting at the retail buyer’s event Hall of Flowers for the first time in October when we’ll open up the brand to be carried in other retail stores across California.
Licensing
Non-THC
We exhibited at the global licensing show in Las Vegas as the only cannabis company in attendance. The response was a resounding success as we spoke with companies from all over the globe wanting to license High Times for categories like apparel, glassware, calendars, socks, games, jewelry, etc. We completed several deals in Q2 and we’ll provide links to these products in future updates as they come to market.
THC Brand
We expect to sign THC brand licensing agreements in Oregon, Washington, Massachusetts, and Nevada in the coming months. There are no assurances but this should allow consumers in those states to find High Times branded product on dispensary shelves.
We’re also working on a website for High Times branded products which will allow customers to learn about the products and locate the closest retailer in a specific state.
Retail
The newest licensed store opened in the Florida market (HT Medical Cannabis) in St. Petersburg in July.
We continue to work on new stores in new markets, and believe there is potential to add stores domestically and internationally in today’s cannabis landscape
Corporate
Transfer Agent
We hope that you all received notification from our transfer agent EQ about your shares and a request for information they may need. If you did not receive any notifications in the mail, please call EQ @ 1-866-877-6270 to make sure you get set up with their online portal to view your shares.
Financial Audits
The 2019 audit has been completed by our auditor RBSM and will be filed shortly. We’re in the final stretches for the 2020 and 2021 audit and we anticipate having them done and filed by the next shareholder update.
Kindest Regards,
The High Times Team
averytheindian
2 years ago
I would like to welcome new shareholders who have joined the team since the last time we provided an update. There have been a lot of changes with the business and I’m excited to provide you with the exciting changes. First, I am honored to have been asked to step into the CEO role earlier this year. I immediately asked Christopher Chabot to move into the COO role as he has been an operational consultant for High Times for the previous two years.
Our future's so bright as we begin to weave our business verticals together, add new stores and bring live events back! As Covid comes to an end, you will see new changes to Media, Events, Stores/Delivery, and Licensing.
Let's get into it!
Corporate Update
Transfer Agent
You should have received a mailed notification that we have changed stock transfer agents from VStock to EQ. As part of that notification, you should be able to log into their portal and view your shares. When you login, you will see a $0 value for your shares. That only means that there is no public price for the shares but doesn’t reflect what the shares are worth as a private company. If you did not receive this mailed notification, please call EQ @ 1-866-877-6270.
Financial Audits
We have been working hard to complete financial audits for 2019, 2020, and 2021. We got behind on this work for many reasons but we’re back on track and will be current in the coming months.
Public Listing
As we finalize our audits, we have been working on the public listing strategy. There are many ways to list High Times and we’re exploring them all. While we don’t have a date yet, we will continue to provide updates as we monitor the markets and explore our options.
Media
Print
As we have for the better part of 50 years, we continue to publish our physical magazine every month, and we look forward to our new Editor-in-Chief, Ellen Holland’s, leadership in this effort. While we were proud to be one of the first printing, it’s even more empowering being one of the last. I hope all of you receive the magazine to your homes, but if not, you can subscribe here.
Online
We never paused the dozens of stories per week that we post on hightimes.com and we continue to search for the most interesting stories on the market to keep our readers interested and engaged. We hope you all get a lot out of reading the website, and welcome any of your suggestions for potential stories. You can email our editors directly here.
We are gearing up to launch our brand new contributor section, welcoming in the leading voices from across the industry to share their perspectives, praise, and criticisms, to our readers. We are excited to create a space for a different side of industry commentary, and know there will soon be something both empowering and humorous for everyone in this new category.
Social (IG / FB / Twitter)
Together with online we have continued to be very active with social media activities and we continue to make announcements on our channels about High Times’ own cannabis operations including delivery and retail stores.
We are working on new media efforts including Podcasts, new YouTube Channel, TikTok, and live streaming with platforms. We will share more details as this comes together.
We are also working on developing social presence for each of the individual retail stores in an effort to more directly reach our specific communities, and to double down on strengthening our connection to those markets.
Events
Cannabis Cup
We continue to push forward with the Cannabis Cup People’s Choice in different markets for 2022. For those of you that have not been around long enough to have heard about the transition, the People's Choice competition was developed in the early days of COVID to continue to engage with our loyal and active customer base. Next events on deck are Michigan, Southern California, Colorado, and Alaska.
We expect to bring back the live Cannabis Cup festivals late this year with a full slate of events in 2023. We are excited to test a new live events model where we can sell cannabis directly to attendees in states where we hold the appropriate licenses. We have historically generated revenue through ticket sales, sponsorships, and vendor booths. We allowed our vendors to sell directly to festival attendees if they have a retail license or partner with another retailer. This new model in states like California allows us to become the retailer of record which should generate significantly more revenue per event than in years past.
Other Events
High Times 100: as in years past, High Times honored the 100 most influential people in the cannabis industry in 2021. They appear in this month’s issue of the magazine and we hosted an event for them on May 24th in Los Angeles.
We are also working on bringing our cannabis event model to other notable festivals and events, with one major mainstream festival announcement coming in the next few weeks.
California Cannabis Delivery & Stores
Delivery
We entered an exclusive partnership with Ginger Commerce for Direct-to-Consumer (DTC) delivery. This allows brands to advertise their products directly to consumers and convert them on their own channels like their websites without having to sell into retail stores or delivery services. This is a new and evolving theme in CA cannabis and we expect it to become a major piece of the industry in the years to come.
We are working on a mobile app for the Apple Store which will allow customers to place orders directly from the App.
For the second year in a row, our own delivery service will be selling Cannabis Cup judging kits to the public for the Southern CA Cannabis Cup. This is one of the exciting ways that our business verticals come together to create a more powerful High Times.
Stores
We’ve come a long way since we announced our intention to move into the “plant touching” space. We have completed the acquisition and integration of a couple of companies and today we find ourselves operating seven California retail stores. Six of them are under the High Times brand and one under the Have a Heart brand. We recently opened High Times Blythe on Jan 6th and High Times San Bernardino on Feb 24th (see store photos below).
We are pushing the envelope with how the cannabis retail experience should be for customers. Where we are allowed by local law, we offer an open floor plan which allows our customers to shop freely by using a shopping basket and interacting with the inventory much like a Whole Foods. We’ve worked hard on creating inviting spaces that are well marked for easy navigation.
Google Review from 'Leafster': LOVE LOVE LOVE this place. The same person on Yelp said same. I live in Paso Robles and drive all the way out to them to pick up my stuff!! They always have great deals going on (sign up for their texts) and the people that work there are so sweet and helpful!! Also whenever I go visit them there is no line what so ever."
We look forward to opening more locations in 2022 and beyond. We have several deals in the pipeline and hope to announce them soon.
THC Products
High Times THC products have been available in our stores for more than nine months. We are working on lining up new flower suppliers to elevate the quality of the brand. We will be rolling out updated products in the months ahead. We look forward to launching High Times products into other stores in California later this year.
Check out our branded THC product's packaging:
Licensing
Accessories
Dean Gelfand and David Baker have returned to High Times to focus on licensing. They will mostly do deals around apparel, accessories, glassware, and anything else that makes sense. We’re excited to be pushing this initiative and excited to see High Times pop up around the globe.
For 4/20 this year we released two collaborative collections with cultural cornerstones. The first being a hoodie and tee with RipnDip, as well as the revival of an older collaboration from the 70’s with the Furry Freak Brothers, which is entering its second season as an animated series on Fox’s TUBI platform.
THC Brand
We are focusing on licensing the High Time brands for THC products to best-in-class operators across the country. The way the laws are set up, we have to work with different partners in each state we can’t ship across state lines. The best way to get the brand into each of these markets is to sign licensing deals much like we did with Red, White, and Bloom in Michigan and Florida.
We recently hired Brett Fink to focus on building out this strategy. He has significant cannabis experience helping launch the Old Pal brand in California and setting up these same licensing agreements across the country.
Retail
We continue to explore opportunities for licensing our name to retail operators that need to differentiate themselves from the pack.
People
Glen Leibowitz has been with us for more than six months as a CFO consultant mostly focused on completing our audits. He comes from Apollo Global and has several years of experience with Acreage Holdings as their CFO.
Blake Helling joined us as our Corporate Controller setting up a robust financial team as he gets us ready to be a public company.
Dane Diseth has joined us to head up our marketing efforts for both the retail and delivery locations. She has several years of experience in the cannabis industry and is based in Los Angeles.
Austin Minor has joined the team to lead our centralized buying efforts for both the retail and delivery locations in California. She comes to us with more than 5+ years of California industry experience and we are thrilled to welcome her aboard.
Steven Van Zile joined us as the VP of Retail. He comes with decades of experience in traditional retail working in food, wine, and spirits. He most recently joined us from cannabis retailer MedMen where he opened and managed stores.
Jim Casey joined as our IT Manager where he’s working on centralizing all technology initiatives across the company.
Brett Fink is heading up THC brand licensing deals across the country. He was an early employee of California cannabis brand Old Pal and helped them scale through state licensing deals. He joined us most recently from his own consulting firm, Greater Holdings, where he helped brands of all sizes scale via licensing deals.
Ellen Holland is our new Editor in Chief. She comes to us with many years of cannabis experience writing for several magazines and most recently managing the Ed Rosenthal online publication.
Hightimes Holding Corp. is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from hightimesinvestor.com
VapeDog
2 years ago
A lot to complete in the next 90 days…
The Offering is presently paused pending the Company’s completion of an audit of its 2019 and 2020 annual consolidated financial statements and preparation of unaudited consolidated financial statement for the six months ended June 30, 2020 and June 30, 2021, the filing with the SEC of the Company’s annual report on Form 1-K for the year ended December 31, 2019, the semi-annual report on Form 1-SA for the six months ended June 30, 2020, the filing of the Company’s annual report on Form 1-K for the year ended December 31, 2020 and the filing of the Company’s semi-annual report on Form 1-SA for the six months ended June 30, 2021.
Hard to get Sh!t done when your high as hell all day every day !!!
Parked!!!
VapeDog
2 years ago
Reg A Extended Yet Again Due To Unfulfilled SEC Requirements
In the meantime, High Times extended its existing Regulation A+ offering until as late as ***March 31, 2022.***
The offering has been on hold for several years, pending the company’s completion of an audit of its 2019 and 2020 annual consolidated financial statements and preparation of unaudited consolidated financial statement for the six months ended June 30, 2020, and June 30, 2021.
Other unfulfilled obligations include an SEC filing of the company’s annual report on Form 1-K for the year ended December 31, 2019, the semi-annual report on Form 1-SA for the six months ended June 30, 2020, the filing of the company’s annual report on Form 1-K for the year ended December 31, 2020, and the filing of the company’s semi-annual report on Form 1-SA for the six months ended June 30, 2021.
***High Times Loses Another High Profile CEO As Peter Horvath Resigns… another one bites the dust !!!
VapeDog
3 years ago
On August 31, 2021, Hightimes Holding Corp., a Delaware corporation (the “Company”), elected to extend the Company’s existing Regulation A+ offering (the “Offering”) until as late as ***November 30, 2021.***
A copy of the Subscription Agreement is attached as Exhibit 4.1 to this Current Report on Form 1-U and any summary of the terms of such document is subject to, and qualified in its entirety by, the full text of such document, which is incorporated herein by reference.
The Offering is presently paused pending the Company’s completion of an audit of its 2019 and 2020 annual consolidated financial statements and preparation of unaudited consolidated financial statement for the six months ended June 30, 2020, the filing with the SEC of the Company’s annual report on Form 1-K for the year ended December 31, 2019, the semi-annual report on Form 1-SA for the six months ended June 30, 2020, and the filing of the Company’s annual report on Form 1-K for the year ended December 31, 2020.
November…
averytheindian
3 years ago
High Times
Join us live this Wednesday!
It is our pleasure to announce our next shareholder webinar this Wednesday to update you on all the exciting developments going on at High Times, including updates on the going public process, recent store developments and to provide you a chance to ask our executive team questions about the status of your investment.
Since our last webinar, we’ve signed definitive agreements to acquire another store, and we’re currently celebrating the grand opening of our first branded store, the High Times Cannabis Market in Oakland.
We’ll also share and discuss High Times products, and share the details on our upcoming releases with our High Times investor community!
Join us this Wednesday, March 31st at 5 pm PT (8 pm ET), to hear about all the exciting updates coming for High Times from our Executive Chairman, Chief Executive Officer, and President
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
LongFutureShot
2 years ago
starkd748
3 years ago
watchful eye 33
3 years ago
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