Medical cannabis company CS Medica has its last day of trading on Spotlight Stock Market today. In connection with this, CEO and major shareholder Lone Henriksen has written a letter to shareholders about the decisions made during the challenging period.

One of the topics to be addressed is the planned listing in Germany, given that CS Medica is kicked out of Spotlight for not fulfilling its obligations regarding the listing fee.

According to Henriksen, feedback has been received from the German Financial Supervisory Authority Bafin.

"Although we are making progress, a strong pre-sale is crucial to secure an upside that justifies the IPO investment. We are moving forward with this in mind and benefiting from the lessons learned from the Spotlight listing," he says.

As for the business itself, it has been decided to temporarily stop all activities that do not contribute to revenue in the short term. The aim is to optimize operations over the next six months.

"This strategy allows us to focus on initiatives that deliver immediate financial results and strengthen our foundation for sustainable growth," says Henriksen.