ITEM 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or and Obligation under an Off-Balance Sheet Arrangement.
Bloomios is in default of its Senior Secured Notes, and subsequently has triggered cross defaults on all of its other obligations. The Company is working with the Agent for the Senior Secured Notes to determine the best course of action. Pursuant to the Security Agreement between Bloomios and the Senior Secured Noteholders, they have the ability to liquidate the assets of the Company and its subsidiaries.
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Bloomios, Inc. manufactures, markets, and distributes hemp-derived supplements and cosmetic products through wholesale distribution channels in the United States, through its wholly owned subsidiary, Bloomios Private Label (BPL). BPL is engaged in the manufacturing, processing, sourcing and distribution of hemp-derived, nootropic and nutraceutical products to wholesalers and retailers. The Company manufactures hemp infused products ranging from human edibles, pet edibles, liquid consumables such as tinctures and shots, topicals, and smokable hemp. It provides support at each step from custom formulation, order fulfillment, and brand development. Its product categories include edibles, tinctures, oils, salves, capsules, balms, lotions, creams, beverages and pet treats. It offers its private-label and white-label customers a collections of customizable hemp products that includes over 80 products across seven categories in addition to custom formulation and manufacturing services.
BLOOMIOS, INC. 
