Dan Bilzerian’s Weed Company Is Reportedly Burning Through $1.5 Million A Month, May Be Bankrupt In Two Weeks

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Listen, the last thing I want to do is pile it on Dan Bilzerian, who by all accounts has had a tough go at it the past 39 years—having orgies with sorority girls, crashing in $75 million mansions, and refusing to lift legs.

Despite the glamorous life Mr. Bilzerian’s cultivated on social media over the years, reports over the past year have been anything but peachy.

There was that report that Bilzerian moved out of the $75 million mansion he rented because he was behind on rent. And the much-anticipated autobiography that went up in flames because he hated the ghostwriter’s portrayal of him.

Now, it’s being reported that Bilzerian’s weed company, Ignite, could go bankrupt in the next two weeks.

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More pot, less pills

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In July, news broke that Ignite was $50 million in the red, resulting in Bilzerian ending the lease on the aforementioned mansion (to the elation of his neighbors).

According to Forbes, CannMart, a distribution company that moves Ignite-branded product in Canada—where Bilzerian’s firm is publicly traded—cut ties with Ignite last week after shares of the company tanked from to $1.44 (Canadian) to about $0.35.

In a recent YouTube video, financial analyst Tom Nash does a deep dive into Ignite’s financial records for Q2 (which were recently revealed two-and-a-half months after the deadline) and explains how the end may be near for Bilzerian’s baby.

As transcribed by Sportskeeda:

“Based on the financials,the company in two weeks is going to be literally out of cash. Not balance sheet insolvency , not theoretical accounting insolvency , they are out of cash in exactly fourteen days .”

“Based on these financials, the company started the year with 15.1 million, ended the 2nd quarter with 5.8 million, meaning it burned through 9 million dollars in a span of six months. That means it burns through a million and a half, every single month. “

“Now if you have 5.8 million on June 30th, it literally means that you have four months to live . That’s it, from June 30th, four months, you get October 30th which is in two weeks. ”

“They literally had zero growth from last year . A company that sells weed online during a pandemic, when everybody’s tuck at home smoking weed had zero percent growth over one year. This is insane. “

If Bilzerian’s in trouble, he’ll be the last one to come to terms with it.

If this is what impending bankruptcy looks like, take my money. All $273 of it.

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Use @alisterco its good for bathing

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Matt Keohan Avatar
Matt’s love of writing was born during a sixth grade assembly when it was announced that his essay titled “Why Drugs Are Bad” had taken first prize in D.A.R.E.’s grade-wide contest. The anti-drug people gave him a $50 savings bond for his brave contribution to crime-fighting, and upon the bond’s maturity 10 years later, he used it to buy his very first bag of marijuana.