Global Cannabis Consumer Packaged Goods SLANG At Risk: $17.3M Debt And Revenue Drops Spell Trouble
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 11 2024
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Source: Benzinga
Financial Crisis: SLANG Worldwide is facing a $17.3 million debt repayment deadline by November 15, 2024, and has agreed to pay $1.75 million upfront to avoid immediate action while considering drastic measures due to declining revenues and cash flow.
Declining Performance: The company's second-quarter 2024 earnings report showed a 26% year-over-year revenue drop, with significant losses in key markets, leading to a comprehensive loss of CA$11.5 million and dwindling cash reserves.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
