High Times Holding Corp., a media group for the marijuana culture, has decided to accept Bitcoins (BTC) for its forthcoming initial public offering (IPO), as in the case of the U.S. securities and exchange surveillance Commission (“SEC”) on may 13. August submitted documents. The decision contradicts the company’s statement of 3. August, when the company announced to start Accepting crypto currencies in order to attract investors.
should be accepted at the beginning of August, why not let others know the High Times-a press report, therefore BTC and Ethereum (ETH) as a payment method for the subscription rights to the shares in the company. In the preparation phase of the IPO’s High Times, a Regulation A+was filed-the offer that allows smaller companies to receive in a period of 12 months up to 50 million US-dollars from the Public.
Though High Times stated originally, to accept crypto-currencies in the IPO, making it the “first traditional share offering, the Investments” in digital currencies accepted, – stated in the SEC documents, now that the announcement was an error:
“The press statement was wrongly issued, since the company Bitcoin is not accept as a form of payment for the shares. As in the subscription rights agreement of the company in connection with the offering provided, the company accepted, only checks, credit cards, ACH, or wire Transfers as payment for the purchase of shares.”
The SEC document refers to the ETH, the other digital currency, which has been mentioned as an accepted form of payment in the original press statement.
Crypto currency in the cannabis industry as a response from the Bank prohibitions, and some other legal concerns of the industry, as they could represent a good Alternative to cash payments, while the drug remains on the Federal level continue to be illegal. The aversion of the banks, with Cannabis-related payment options, means that users can use any credit or debit cards to make their purchases. The Lack of banks makes marijuana dispensers susceptible to thefts and Robberies, as they must, accordingly, storage of large quantities of Cash.
in Order to create a better environment for the sellers in the industry, has closed the digital currency Dash of 2017, with the Blockchain Startup Old Thirty Six together, to Dash as a direct means of payment in the cannabis industry. Dash claims that cashless options for cost savings of up to 15 percent can provide traders.
