Major California Distributor Receivership Sale & Auction

State: California , Nevada
City: Santa Ana , Santa Rosa
Offer type: For Sale
Property Type: Distribution
Availability: Available
Business for Sale: Yes

Details

Accounts Receivable Public Notice of Sale Hearing – January 8, 2024

The Court set the hearing for the sale Accounts Receivables for January 8, 2024 at 10:00 a.m.

Price is currently $600,000

To Qualify: Minimum deposit of $300,000 is required, and executing the rules.

Accounts Receivable includes 100’s of dispensaries and near 100 brands totaling with over $7,000,000 in collectibles.

Meetings with brands, and industry experts have taken place over the last few months and non sensitive information was released to the public. Initial bidders who complied with the receiverships rules for offers on the AR entered into contract in November, and were provided further due diligence.

Blackbird/Nevada Overbid Hearing – February 6, 2024

The Court set the hearing for the sale Blackbird/Nevada for February 6, 2024 at 9:00 a.m.

Price is currently $850,000

To Qualify: Minimum deposit of $150,000 is required, and executing the rules.

This is an active business which is powered by two facilities (Reno/Las Vegas), and Blackbirds software (MyBlackbird) which manages its B2B and B2C. It is the only asset that is still active, and will be delivered profitably with financials updated before the end of the auction. We recently sent some office equipment and vehicles from California to assist the business.

MyBlackbird is a robust, all-encompassing software solution purpose-built to cater to the multi-faceted demands of the cannabis industry. With a rich history of over 5 years of rigorous development involving multiple contributors, several strategic business pivots, and a drive for constant refinement, the platform has matured into a full-fledged suite of interconnected services, addressing all aspects of the cannabis business.

Remaining HERBL Assets for Purchase:

Santa Ana Distribution License

For Sale – $25,000 (Price Reduction)

1 Type 11 Distribution License
Cannabis License that can be moved to any property
RSP-2022-92 (Regulatory Safety Permit)
Optional 7,000 sq ft lease available at the current property, subject to landlord approval that can be delivered turnkey.

Athena Software

For Sale – $150,000 (Price Reduction)

Newest software developed by HERBL and Blackbird, will provide a full tech write up.

Athena, named after the goddess of wisdom, crafts, and strategic warfare, is HERBL’s intelligent technology platform designed to streamline cannabis distribution. It’s a custom-built, purpose-driven solution crafted to address the unique challenges faced by the cannabis industry.

The platform’s core purpose is to bridge the gap between cannabis manufacturers, retailers, and consumers, making the whole supply chain smoother and more transparent. Its aim was to enable HERBL to be the premier distributor of cannabis products, ensuring everything from compliance to efficient logistics and data-driven inventory management.