Business
Agritek Holdings, Inc. Announces Filing Of Quarterly Report Ending September 30th 2018, Return To Fully Reporting Status, And Favorable Settlement Of Arbitration
Agritek Holdings, Inc. Announces Filing Of Quarterly Report Ending September 30th 2018, Return To Fully Reporting Status, And Favorable Settlement Of Arbitration.
About this update from Agritek Hldgs Inc
[{"type":"text","content":"\nLOS ANGELES, CA, Dec. 18, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Agritek Holdings, Inc. (OTC PINK: AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector in the United States and Canada, today announced that the Company has filed its quarterly financial report for the term ending September 30, 2018. The filing will now allow Agritek Holdings Inc. to return to its fully reporting status and return to the OTCQB once the common stock trades over the .01 mark on a daily basis.\n The company is also excited to announce it has reached a favorable and confidential settlement on the long term arbitration and judgement subject to specific terms and conditions of the parties within the confidential settlement agreement. Agritek Holdings has additionally worked to reduce convertible debt and total liabilities as compared to a year ago. “I am pleased to announce that we have filed our quarterly report, bringing the Company back into the compliance and fully reporting status,” stated Suneil Singh Mundie, interim CEO for Agritek Holdings. “Additionally, with the arbitration behind us, we can immediately begin to monetize the assets of the Company that have remained dormant during this process in which former management was not completely free to raise funds by the court and was limited to spending both equity and funds on existing assets without going through a judicial process. I am happy to report we can now move forward freely with what I believe can be substantial assets and new funding partners friendly to the company that I expect will have an immediate, and positive effect on our common market over the short term with the passing of the 2018 Hemp Farm Bill and continue our upward trend,” further stated Mundie. About Agritek Holdings, Inc. Agritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active investor and operator in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related holdings. Currently, the Company is focused on three high-value segments of the cannabis market, including real estate investment, intellectual property/brands, and infrastructure, with operations in three U.S. States, Cana...