 the report chart, and this is your Marijuana Money Minute. This week, CEO Hadley Ford resigned from IANFAS Capital Holdings. The company had received some allegations from an online research firm, and as a result, they formed a special committee to investigate those allegations. As a result of their investigation, they determined a couple of these things were true that Hadley Ford did not disclose the personal loans that he had done. As a result, he resigned. The company's president and co-founder, Randy Maslow, has stepped up to become the interim CEO. High Times is buying 13 planned and operational dispensary licenses from the harvest health and recreation. These are located in California. The company is paying $5 million, the rest is in stock, and the deal is valued at $80 million overall. It's part of High Times overall strategy to pivot over to the dispensary side of the industry. Presco Labs reported their fourth quarter 2019 earnings. Revenues came in at $41 million. This was up 144% year over year, and a sequentially increase of 14%. Now the company said that the increase in revenue was due to expansion in new markets and the state for their already operating. And that loss for the fourth quarter was $45 million, and this is much more than that loss at the same time period in 2018, which was 4.4 million. The cannabis e-commerce vendor, budtrader.com, is going to be going public through a reverse takeover with Lake Victoria Mining Company. This is a privately held company. They are known for their business name of E5 Systems. They have operated budtrader since 2016, and also LVCA, Lake Victoria, is a control affiliate of Grapefruit, which owns some California permits and licenses to both manufacture and produce products. The holding company known for its variety of biotech names, a orthogonal thinker raised $6 million in oversubscribed seed round. They're going to be using that money for their EI ventures, which is part of their psychedelic portfolio, and to begin phase one clinical trials for Silly, which is their flagship psychedelic product. And then finally, Canopy Growth said that they were going to lay off another 200 employees. This brings them up to 1,000 employees that they have let go during their restructuring reorganization. And that's it for this week. I'm Deborah Borchart reporting for the Green Market Report. Stay safe and healthy out there, everyone.