false 0001622879 0001622879 2025-03-07 2025-03-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): March 7, 2025

 

 

 

Medicine Man Technologies, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Nevada 000-55450 46-5289499
(State or Other Jurisdiction
of Incorporation)		 (Commission File Number) (IRS Employer
Identification No.)

 

865 N. Albion St. Suite 300

Denver, Colorado

   80220
(Address of Principal Executive Offices)   (Zip Code)
     
(303) 371-0387
Registrant’s Telephone Number, Including Area Code
     
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading
Symbol(s)		   Name of each exchange on which registered
Not applicable   Not applicable   Not applicable

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨ 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

 

On March 3, 2025, PBS Holdco, LLC (formerly known as Mesa Organics Ltd.) (“PBS”), a subsidiary of Medicine Man Technologies, Inc., a Nevada corporation (the “Company”), did not pay the approximately $0.3 million quarterly principal payment and $0.4 million quarterly interest payments due on such date (the “Interest Payment Date”), in respect of that certain loan agreement (the “Loan Agreement”), dated as of February 26, 2021, among PBS, Mesa Organics II Ltd., Mesa Organics III Ltd., Mesa Organics IV Ltd., and SCG Holding, LLC, as borrowers (collectively, the “Borrowers”), SHWZ Altmore, LLC, as Lender (the “Lender”) and GGG Partners, LLC, as Collateral Agent (the “Collateral Agent”).

 

On March 7, 2025, PBS received a written notice from the Lender and the Collateral Agent stating that an automatic event of default (the “Event of Default”) occurred and is continuing under Section 8.01 of the Loan Agreement for failure by the Borrowers to timely make the principal payment on the Interest Payment Date for March 2025. The five (5) business day grace period for the missed interest payment due on the Interest Payment Date extended through March 10, 2025. Failure by the Company to make the interest payment during the grace period also constituted an Event of Default under Section 8.01 of the Loan Agreement.

 

Upon the occurrence of the Event of Default, pursuant to Section 2.08(b) of the Loan Agreement, interest at a rate of simple interest per annum equal to 15% plus 4% began to accrue no later than March 3, 2025, and such default interest continues to accrue during the continuance of the Event of Default. The current balance due under the Loan Agreement is approximately $11 million.

 

On or around March 10, 2025, the Collateral Agent exercised control of certain of the Borrowers’ bank accounts pursuant to certain deposit account control agreements with the Lender. The Collateral Agent swept approximately $1.5 million of cash from these accounts pursuant to the remedies set forth in the Loan Agreement and related security documents.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      MEDICINE MAN TECHNOLOGIES, INC.
       
Date: March 13, 2025 By: /s/ Forrest Hoffmaster
      Forrest Hoffmaster
Chief Executive Officer

 

 

v3.25.0.1
Cover
Mar. 07, 2025
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Mar. 07, 2025
Entity File Number 000-55450
Entity Registrant Name Medicine Man Technologies, Inc.
Entity Central Index Key 0001622879
Entity Tax Identification Number 46-5289499
Entity Incorporation, State or Country Code NV
Entity Address, Address Line One 865 N. Albion St. Suite 300
Entity Address, City or Town Denver
Entity Address, State or Province CO
Entity Address, Postal Zip Code 80220
City Area Code 303
Local Phone Number 371-0387
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Medicine Man Technologies (CE) (USOTC:SHWZ)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025 Medicine Man Technologies (CE) 차트를 더 보려면 여기를 클릭.
Medicine Man Technologies (CE) (USOTC:SHWZ)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025 Medicine Man Technologies (CE) 차트를 더 보려면 여기를 클릭.