Cannabis vape manufacturer The Blinc Group cited $1 million in liabilities in its Chapter 7 bankruptcy filing in New York.
The list of creditors included in the March 14 filing indicates the privately held company hasn’t paid taxes, suppliers, media or public relations firms, according to Green Market Report.
Plant-touching marijuana companies are not eligible to file for Chapter 7, but Blinc identified itself as a vaping technology company.
In a Chapter 7 bankruptcy, a court-appointed trustee liquidates a debtor’s nonexempt assets to pay its creditors.
The debtor is then discharged from most unsecured debts, allowing a fresh financial start.
According to Green Market Report, New York-based Blinc’s creditors include:
- 7Thirty Fund
- Arcview Collective Fund
- Arizona Department of Revenue
- Equitas Partners Fund
- Etain Health
- Florida Department of Revenue
- Georgia Department of Revenue
- GoDaddy
- Hubspot
- Illinois Department of Revenue
- U.S. Internal Revenue Service
- Michael Zaitsev
- Meltwater News
- Michigan Department of Treasury
- Microsoft
- New Jersey Department of Taxation
- New York Department of Taxation
- NisonCo
- Ohio Department of Taxation
- Oregon Department of Revenue
- Panther Opportunity Fund
- Politico
- WGD Opportunity Fund
Blinc also listed several Chinese companies as creditors.
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