AmeriCann, Inc. Auditor Raises 'Going Concern' Doubt
December 05, 2021
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AmeriCann, Inc. filed its 10-K on Dec 06, 2021 for the period ending Sep 30, 2021. In this report its auditor, Malone & Bailey, PLLC, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
AmeriCann, Inc. is a cannabis company that develops cultivation, processing and product manufacturing facilities. It has provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. It designs GMP-certified cannabis extraction and product manufacturing infrastructure. Its flagship project is the Massachusetts Cannabis Center (MCC), which is being developed on a 52-acre parcel. MCC project is permitted for over 800,000 square feet of cannabis cultivation and processing infrastructure which is being developed in phases to support both the existing medical cannabis and the emerging adult-use cannabis marketplace. The Company, through a 100% owned subsidiary, AmeriCann Brands, Inc., has received two licenses from the Massachusetts Cannabis Control Commission to cultivate cannabis and provide extraction and product manufacturing support to the entire MCC project, as well as to other licensed cannabis farmers throughout regulated market.