SEC Says High Times Mini-IPO Must Be Halted

High Times initial offering circular dates back to events from 2017

The Securities and Exchange Commission has told a U.S. operated cannabis media and dispensary company, High Times Holdings, that they must halt accepting investments in their mini-IPO because they have failed to meet an extended deadline to file their audited annual report.

The last date the company was allowed to take investments was the middle of June.

High Times is run by former venture capitalist, Adam Levin, who says he once owned soft porn video company Girls Gone Wild and Penthouse. Levin decamed to Puerto Rico two years ago where as a resident he can enjoy extremely favorable tax rates, according to InsideHook.

High Times securities lawyers, Stephen Weiss and Megan Penick of L.A. based Michelman Robinson LLP, confirmed in an email interview yesterday that the company can not accept sales until they get their annual report filed and publicly available for investors.

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