High Times, a cannabis publishing company, is finally accepting decryption of its ongoing initial public offering (IPO).
Although this publication announced that it would accept Bitco and Ether for IPOs in early August, it has been reported in the material submitted by the US Securities and Exchange Commission ("SEC"), as previously reported by Coin Deck, .
Despite this movement, however, the beat coin appears to remain a payment option on the company's investment page.
At the time of comment, High Times' agent Jon Cappetta confirmed that the company was actually accepting bitcoin and ethereum as payment options. Cappetta told CoinDesk that regulatory filing is "making the SEC happy."
"Yes, technically we accept bitco and ether," Cappetta told CoinDesk. However, High Times does not use or retain any cryptocur currency. Rather, a third-party processor called Fund American receives two cryptocur calls, converts them to US dollars and receives them from the company.
"We are using a lot of jargon from the legal point of view, and there is no easy way to spell it out," he said. "We announced a release that would make the SEC happy."
"We accept [cryptocurrencies] as a payment option, but technically, FundIC America takes a bit coin and ether. It's similar to the way we do internationally and we accept pounds or Euros. If they do not accept it, they are converting it to [dollars]. "
The reason for the initial workback is due to concerns expressed by the SEC after the company initially said it would accept a bit coin based on whether the High Times received a direct Crypto call, he said.
"The last time we got into the SEC was similar to a credit card processor … because it is similar to a credit card processor [however] and we do not know it clearly because it has been turned into cash," he said.
Cappetta is doing well with the High Times IPO itself, and as a result, the company is looking directly at the listing.
"Regulation A [fundraising] will be closed on the 12th of this month, and then we will begin the registration process."
Scott tip hat.
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CoinDesk, a leader in block-chain news, is a media outlet that pursues the highest standards of journalism and adheres to strict editorial policies. CoinDesk is an independent operating subsidiary of the Digital Currency Group, which invests in cryptocurrencies and block-chain startups.
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Marijuana culture media group High Times Holding Corp. has decided not to accept Bitcoin (BTC) in its initial public offering (IPO), according to an August 13 filing with the U.S. Securities and Exchange Commission (SEC). The decision runs counter to the company’s Aug. 3 announcement, where it stated it will accept cryptocurrencies in order to attract investors. In the beginning of August, High Times published a press release saying it would accept BTC and Ethereum (ETH) as a method of payment for subscription to the company’s shares. In the run-up to the IPO, High Times filed a Regulation A+ offering that enables smaller businesses to raise up to $50 million of funding from the general public within a 12-month period. While High Times initially claimed that accepting cryptocurrencies in its IPO would make it the “first traditional stock offering ever to accept investments” in digital currencies, the SEC file states that the announcement was a mistake: “This press release was distributed in error as the Company will not be accepting Bitcoin as payment for shares. As provided in the Company’s subscription agreement related to the offering, the Company will only be accepting check, credit card, ACH or wire transfer as payment for subscription to shares.” The SEC document does not give reference to the other digital currency, ETH, which was also mentioned as a method of payment in the original press release. Cryptocurrencies have been seen by many in the cannabis industry as a solution to banking bans and some of the industry’s legal woes by becoming an alternative to cash payments while the drug still remains illegal at the federal level. Banks’ unwillingness to deal with cannabis-related payments means that customers cannot use credit or debit cards to make purchases. A lack of banking makes marijuana dispensaries targets for robbers and thieves due to the large amount of cash on hand. In order to create a better environment for the industry’s vendors, the digital currency Dash partnered with blockchain startup Alt Thirty Six in 2017 to integrate Dash as a payment option in the cannabis industry’s point of sale system. Dash claimed that providing a cashless option could save merchants up to 15 percent. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
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Marc Lasry Predicts
Avenue Capital Group CEO, Marc Lasry, has always regretted not buying Bitcoin when it was $300. The billionaire spoke of his regret back in December and has spoken out favorably for the coin again today with a …
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