Even if we are involved in litigation and win, litigation can redirect significant company resources. When the Company acquires cannabis businesses, it may obtain the rights to applications for licenses as well as licenses; however, the procurement of such applications for licenses and licenses generally will be subject to governmental and regulatory approval. Failure to successfully integrate acquired businesses, their products and other assets, or if integrated, failure to further our business strategy, may result in our inability to realize any benefit from such acquisition. Our business is heavily regulated which could have a material adverse effect on our results of operations and financial condition.
The addition of cocoa butter or, that old stand by, cbd oil are usually soothing and moisturizing. Now, to replenish skin tone with moisture you is not able to go wrong with the SheaMoisture company. The Argan Oil & Raw Shea Butter and the Raw Shea Butter Lotion are affordable and organic, not to cover intensely moisturizing. Consisting of ingredients such as shea butter, mango butter, soy milk, and jojoba oil it’s no reason it holds all the things moisture.
The Oasis LLCs have not yet received the demand from the State of Nevada with the precise amount due and the amount escrowed is the Companyâ€™s best estimate of the pre-closing tax liability If the ultimate tax liability is less than $150,000, the balance of the escrowed amount will be paid to sellers. As of May 31, 2020, the $150,000 remains a liability on the Companyâ€™s balance sheet and $150,000 is recorded in an escrow account in the asset section of the Companyâ€™s balance sheet. The terms of the Companyâ€™s acquisition of Alternative Solutions, include a payment of $1,000,000 contingent upon the Oasis LLCs achieving certain revenue targets. The receivable is recorded on the balance sheet as of May 31, 2020 in the amount of $0, net of allowance in the amount of $450,000. The Company recorded interest income in the amount of $296,250 and $174,247 on the IGH Loan during the years ended May 31, 2020 and 2019, respectively.
George Hanna, Mercks vice president over at Upper Gwynedd, Pennsylvania, explained that the compound lasts longer in implant form because the fluorine atom present in it delays its degradation. Once the implant is proven effective and safe, it could be a game-changer in the field of medicine, says Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, Bethesda, Maryland. While the bot has some similarities with the roach, its life goals are much more desirable. The amazing capabilities of this tiny critter make it a perfect ally for search-and-rescue operations.
On August 21, 2018, David Lamadrid, a former executive officer of the Company and holder of a convertible promissory note, converted a total of $32,497, which consisted of $31,250 of principal and $1,247 of accrued interest, into 103,989 shares of common stock. The Companyâ€™s authorized capital stock consists of 750,000,000 shares of common stock, par value $0.0001, at May 31, 2020 and 2019, and 20,000,000 shares of preferred stock, par value $0.001 per share. The Company had 126,521,416 and 125,839,095 shares of common stock issued and outstanding as of May 31, 2020 and 2019, respectively. Upon the consummation of the Merger, the shares of the common stock of CLS Holdings owned by CLS Labs were extinguished and the former stockholders of CLS Labs were issued an aggregate of 15,000,000 shares of common stock in CLS Holdings in exchange for their shares of common stock in CLS Labs. As a result of the Merger, the Company acquired the business of CLS Labs and abandoned its previous business. Effective October 1, 2019, the Company and Mr. Glashow entered into an amendment to extend the term of his employment agreement by one year instead of relying on the automatic one-year renewal provision in the employment agreement, and to increase Mr. Glashowâ€™s annual base salary to $200,000.
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It was a good run.â€ And with that, he sailed off to live on a boat with two of his bros. He towered as a power forward for the Suns, the Spurs, the Hawks, the Jazz, and the Bobcats. The 6-foot-8 forward also racked up medals and titles playing for two separate who sells the best cbd oil French teams in the European league. He led in total assists and was second in total rebounds to defeat the Miami Heat 4-1. Oscar Robertson is one of the original NBA greats, the Michael Jordan of his day, and one of the leagueâ€™s founding players.
The Company recognized an original issue discount of $189,180 on the Oasis Note. During the year ended May 31, 2020 and 2019, $67,384 and $121,796, respectively, of this discount was charged to operations. During the years ended May 31, 2020 and 2019, the Company accrued interest in the amounts of $82,037 and how to use cbd oil for neuropathy $225,333, respectively, on the Oasis Note. On December 31, 2019, the Company repaid the remaining amount of the note, $1,671,296, which comprised $1,363,925 of principal and $370,370 of interest. Any draws on the line of credit in excess of $150,000 will only be made in the sole discretion of the Company.
GPS navigation, automatic parking, lane guidance controls, tire pressure monitors and automatic braking are now rather commonplace. Both self-driving and electric vehicles are developing quickly, thanks to the efforts of a growing number of companies. The two sectors appear certain to combine, giving both spaces a better chance to thrive.
The Canaccord Debentures mature on a date that is three years following issuance. The Canaccord Debentures are convertible into Convertible Debenture Units at a conversion price of $0.80 per Convertible Debenture Unit. Each Convertible Debenture Unit consists of one share of the Companyâ€™s common stock, and one-half of one warrant, with each warrant exercisable for three years to purchase a share of common stock at a price of $1.10. The Canaccord Debentures have other features, such as mandatory conversion in the event the common stock trades at a particular price over a specified period of time and required redemption in the event of a â€œChange in Controlâ€ of the Company. The Canaccord Debentures are unsecured obligations of the Company and rankpari passuin right of payment of principal and interest with all other unsecured obligations of the Company.
The Company assessed these intangible assets as of May 31, 2020 for purposes of determining if an impairment existed as set forth in ASC 350 â€“ Intangibles â€“ Goodwill and Other and ASC 360 â€“ Property Plant and Equipment. Pursuant to ASC 360, the Company recorded why is cbd oil good for dogs an impairment of goodwill in the amount of $25,185,003 based upon the difference between the carrying value of $25,742,899 and the fair value $557,896. Fair value was based upon the price of the Companyâ€™s common stock at May 31, 2020 of $0.06 per share.
On July 27, 2018, the Company granted 25,000 shares of restricted common stock to Frank Tarantino, its former Chief Financial Officer. Effective August 1, 2018, the Company granted 25,000 shares of restricted common stock to its then Chief Financial Officer. Section 280E of the Internal Revenue Code, as amended, prohibits businesses from deducting certain expenses associated with trafficking controlled substances .
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Using a 1970s French technical report overlaid on a national database of water well hydrology and water chemistry, he meticulously matched their information with an extensive lands claim database. With full financial backing and support from the company, Terry identified and Lithium Chile acquired the best salars in proximity to the highest lithium concentrations and closest to needed infrastructure such as roads and power. To further facilitate merchant adoption, the SmartCash project will release a physical card-ready platform called the SmartCard within several weeks that will work similarly to the way the companyâ€™s already-available SmartBand does today. The card format is familiar to consumers and allows them to skip taking out their phone to load up an app. In fact, no Internet connection is needed at all by the consumer, which means never having to worry about dead batteries or lack of signal in remote areas.