StickIt Technologies Inc. Archives - Green Market Report

StaffOctober 30, 2023


The Daily Hit is a recap of the top financial news stories for Oct. 30, 2023.

On the Site

Oklahoma Marijuana Market Contraction Underway

The Oklahoma medical marijuana market – one of the most free-wheeling in the nation – has been shedding businesses left and right for months. Insiders expect even further consolidation in the coming months. though the state has already fallen from about 14,000 cannabis companies to just over 10,000. Read more here.

Arkansas Cannabis Sales Keep Trending Up

If medical marijuana sales continue at the current pace, the Arkansas cannabis market will set a new annual record, having passed the $211 million mark in September. In both August and September, sales averaged about $23 million. Read more here.

Israeli StickIt Technologies Begins Trading on CSE

Israeli-based cannabis company StickIt Technologies Inc. (CSE: STKT) began trading on the Canadian Securities Exchange under the ticker symbol STKT on Friday. It is the parent company of the Israeli technology and cannabinoid company StickIt Ltd. Read more here.

Lifeist Q3 Profit Margin Rises, Revenue Dips

Lifeist Wellness Inc. (TSXV: LFST) (OTC: NXTTF), which owns cannabis brand Roilty, reported a dip in net revenue for the third quarter ended Aug. 31, yet saw improvement in its profit margin compared to the same period last year. Read more here.

Federal Appeals Court Pressures DEA to Justify Psilocybin’s Schedule I Status

A federal appeals court directed the U.S. Drug Enforcement Administration to give a detailed explanation for keeping psilocybin, the hallucinogenic compound in psychedelic mushrooms, on the list of the most restricted substances. Read more here.

In Other News

Rafael Holdings

Rafael Holdings Inc. (NYSE: RFL) incurred a net loss from continuing operations of $8.7 million during its fiscal 2023 , which ended July 31. Research and development expenses were $6.3 million. Read more here.


All 90 applicants for commercial medical cannabis licenses are back in the running after the Alabama Medical Cannabis Commission Thursday reset the license process. The AMCC rescinded all awarded licenses and denials from an Aug. 10 meeting, setting the stage for a third round of license grants under rules adopted at a commission meeting on Oct. 12. Read more here.

Homestate Dispensary

Workers at Homestate Dispensary in Kansas City voted 6-1 Monday to unionize with Teamsters Local 955. This is only the second unionized dispensary in Missouri and the first in the Kansas City metro area. Read more here.

Debra BorchardtOctober 30, 2023


Israeli-based cannabis company StickIt Technologies Inc. (CSE: STKT) began trading on the Canadian Securities Exchange (CSE) under the ticker symbol “STKT” on Friday, October 27.  The company’s CSE listing statement was filed on StickIt’s CSE portal and under the company’s profile on SEDAR+. It is the parent company of the Israeli technology and cannabinoid company StickIt Ltd. and was founded in 2019.

“StickIt is a unique company in the cannabis industry, we are excited to become a public company listed on CSE and to share our products and our vision with our new investors,” said Eli Ben Haroosh, CEO of StickIt. “We plan to be at the forefront of the technological development of the global cannabis industry,” concluded Mr. Ben Haroosh.

StickIt has developed a line of products as toothpick-sized products inserted into any cigarette to provide the smoker with a functional experience with CBD, CBG, HHC or other cannabinoids. According to the company statement, The Extra-C stick is created through a unique proprietary process, resulting in condensed cannabis oil presented in a toothpick-like matrix, allowing for the easy conversion of regular cigarettes into cannabis or hemp cigarettes.

No Revenue

Despite going public, StickIt has no revenue to report and in addition to that, the company said in its prospectus that it does not have sufficient working capital to continue operations in the normal course for the foreseeable future and will require additional financing to remain financially solvent. For the period ending May 31, 2023, the company reported it had incurred an operating loss of $35,663 and has incurred accumulated losses of $50,617 since inception.

Planned Revenue

The main source of StickIt’s revenue is expected to come from three sources:

  • Revenue from licensing – each of the licensees will pay the company an annual license fee of $75,000 (C$ 99,270);
  • Product sales RevShare – the resulting Issuer will be eligible for a 50% revenue share of all the products the licensees will sell under the license agreement
  • Raw materials sales – the Resulting Issuer will supply the licensees with proprietary raw materials needed for production and will be reimbursed for it.

Stickit reported that its primary assets are patents and patent applications related to plant extracts, therapeutic compounds in smoking utensils, and honey complexes. StickIt says it already has patents granted in the U.S., EuropeIsrael, and Canada.

StickIt operates from key facilities situated in Dalton, Northern Israel, these facilities are central to the company’s research, development, and manufacturing operations.

Stickit’s said in a statement that its operating model is to establish joint ventures in countries around the world where recreational cannabis is permitted. The statement went on to say, “Each licensee/joint venture partner will establish a production facility in which they will add the cannabis content to sticks produced and supplied by Stickit. As part of those arrangements, StickIt is expected to provide the joint venture with the know-how required to manufacture the finished product. The licensee/joint venture partner will produce the finished product, adding cannabis to the raw materials provided by StickIt, and will sell them either directly to the points of sale or through distributors The licensee is expected to pay a setup fee by investing the funds necessary to set up the local production facility. Each licensee will have exclusive rights to produce and market Stickit products in their designated territory.”

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