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Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) is basically shutting down as the company has burned through its cash and is closing its research operations in Denver Colorado. The psilocybin company reported financial results for the six months ending June 30, 2022, with a net loss of $8.09 million or a basic and diluted loss per share of $(1.31).
which bears a 5% interest rate annually and matures on March 7, 2023. The balance of the note payable on June 30, 2022, was $87,916 including accrued interest of $2,777.
Shutting Down
for lease payments, cleaning costs, and the obligation to restore the space to its original condition.
Board is Gone
During the Second Quarter, Gordon Neal who served as the Chairman of the Company’s board of directors and the chair of the Audit Committee resigned, effective May 31, 2022, in order to attend to his other business interests. Mr. Todd Heinzl, who is the owner of The Governance Box consultancy and who has been working as a corporate governance consultant for the company, was nominated to succeed Mr. Neal the chairman of the board of directors.
On August 12, 2022, the company announced that Damon Michaels, Josephine Wu, Dr. Saeid Babaei and Dr. Victoria Hale had resigned as directors of the Company. As a result of the resignations, the company is currently working to identify suitable candidates to replace Mr. Michaels, Ms. Wu, Dr. Babaei and Dr. Hale on the board, and to recruit and appoint three new independent directors to the company’s board of directors and audit committee.
The post Psilocybin Company Mydecine Shuts Down appeared first on Green Market Report.
420GrowLife
via www.KahliBuds.com
Debra Borchardt, KahliBuds, 420GrowLife
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