Panacea Life Sciences Holdings, Inc. Auditor Raises 'Going Concern' Doubt
Published on 12/16/2021 at 18:00
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Panacea Life Sciences Holdings, Inc. filed its 8-K/A on Dec 17, 2021 for the period ending Dec 31, 2020. In this report its auditor, Russell Bedford Stefanou Mirchandani LLP - RBSM LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Panacea Life Sciences Holdings, Inc. is a holding company organized as a plant-based natural health ingredient and product company. It specializes in the development, manufacturing, research, and distribution of products with natural health and wellness market segment for both humans and animals. The Companyâs subsidiary, Panacea Life Sciences, Inc. (PLS) is engaged in the production, distribution, research, and manufacturing of nutraceuticals, cannabinoids, mushrooms, kratom, and other natural, plant-based ingredients and products. The Company also offers natural remedies within its branded product lines for every aspect of life, including PANA Health, PANA Beauty, PANA Sport, PANA Pet, PANA Pure, and PANA Life. It also operates 51,000 square foot current good manufacturing practice (cGMP) facility located in Golden, Colorado. The Company, through Panacea Life Sciences Holdings, Inc., manages six retail locations and a distribution center situated in the Tampa, Florida area.
