HERBL Receivership Details
UPDATE: HERBL Blackbird/Nevada
Read the latest updates and important information regarding the HERBL receivership case, including the due diligence materials that interested parties were seeking prior to the auction. You can find all the details by email or on our updated website page. If you have any questions or require further information, please don’t hesitate to reach out to WeCann via phone, email, or by completing the contact form.
Asset Purchase Opportunities:
- HERBL Nevada / Blackbird: HERBL Nevada / Blackbird for sale for $850,000
The sale of this asset will necessitate a minimum of 90 days to secure approvals from both the NV Cannabis Compliance Board and the Courts. Prospective buyers can rely on the full cooperation of the Receivership in implementing recommended systems, policies, and sales strategies. The primary objective of the Receivership during this transition period, which commences immediately, is to enhance operations. The Receivership will maintain close collaboration with the buyer throughout the process to ensure a seamless, expedited transition and closeout procedure.
Blackbird is a fully operational distribution company operating in Nevada. Using it’s two locations in Las Vegas and Reno they have provided distribution services to Nevada operators.
This sale includes the My Blackbird software program which facilitated it’s operations throughout the years. The business is profitable and includes all the FFE, and equipment necessary to run this business.
The asset will be delivered free and clear of all liens, or encumbrances by court order. The only obligations will be operational costs which include leases and annual license fees. All of these obligations are included in the financials which are available through September 2023.
A full due diligence package is available for qualified buyers who have signed an NDA.
For inquiries or to explore these purchase opportunities further, please contact us promptly. Time is of the essence, and we are committed to facilitating a seamless transition for interested parties.
Athena
- For Sale – $250,000
- Newest software developed by HERBL and Blackbird, will provide a full tech write up on this, contact us.
Athena, named after the goddess of wisdom, crafts, and strategic warfare, was 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.
The tech stack of Athena is modern and robust. It uses Node.js for backend services, React for the frontend, and PostgreSQL as the database. This combination allows for a flexible, scalable, and high-performance system that can effectively handle the complex requirements of cannabis distribution.
For development, Athena follows Agile and Lean methodologies. This enables the team to be responsive to change, whether it’s a change in regulation or a new feature request. Continuous Integration and Continuous Deployment (CI/CD) pipelines are in place to automate the testing and deployment of code, ensuring quick delivery of features and bug fixes.
Previous Receivership Auction Details
The auction was held on September 7, 2023.
All FFE for California Receivership have been sold, and we are moving into our next phase, which is an auction for the remaining assets.
The auction will be held on September 7, 2023. Bidders may attend in person or remotely via Zoom. All bidders must sign a Nondisclosure Agreement and provide proof of funds to gain access to due diligence materials.
To prequalify to bid, at least two (2) business days before the auction, bidders must (a) sign the “Revised Rules for Out-of-Court Auction Hearing”; (b) submit the required deposit to bid via a cashier’s check, wire transfer, or ACH; bidders will be responsible for all fees related to ACH/wire transfers; and (c) provide proof of funds.
The top three (3) bidders for each asset will be given purchase agreements to sign, and the top bidders’ deposits will be held in a trust account pending completion of the sales, with all deposits being returned to the top bidders who do not close at/after closing. All other deposits (cashier’s check, wire transfer or ACH) will be returned/refunded promptly following the auction.
It is important to note that license transfers are always a process, and any operation during that transfer will be arranged with our compliance and legal teams.
Santa Ana License
- $50,000 Starting Bid
- $5,000 bid increments
- $25,000 deposit
- 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
- $200,000 Starting Bid
- $25,000 bid increments
- $50,000 deposit
- Newest software developed by HERBL and Blackbird, will provide a full tech write up on this, contact us.
- More Details
Blackbird
- $3,000,000 Starting Bid
- $250,000 bid increments
- $150,000 deposit
- Turnkey business with its Blackbird software, includes 2 distribution licenses in Nevada
- More Details
Lawsuit
- $3,000,000 Starting Bid
- $250,000 bid increments
- $175,000 deposit
- This is a lawsuit valued between $20-40M and qualified buyers will be given access to further information.
- More Details
Receivership Bucket Updates: (Estimated Value)
Bucket C3
| Locations | Assets | Value |
|---|---|---|
| Santa Ana | Permit | $100,000 |
Bucket T
| Locations | Assets | Value |
|---|---|---|
| Software | Athena | $500,000 |
Bucket N
| Locations | Assets | Value |
|---|---|---|
| Nevada | Blackbird Operation | $3,000,000 |
Bucket AR
| Locations | Assets | Value |
|---|---|---|
| Lawsuit | Breach of Contract | $3,000,000 |
Athena
- $200,000 Starting Bid
- $25,000 bid increments
- $50,000 deposit
- Newest software developed by HERBL and Blackbird, will provide a full tech write up on this, contact us.
Athena, named after the goddess of wisdom, crafts, and strategic warfare, was 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.
The tech stack of Athena is modern and robust. It uses Node.js for backend services, React for the frontend, and PostgreSQL as the database. This combination allows for a flexible, scalable, and high-performance system that can effectively handle the complex requirements of cannabis distribution.
For development, Athena follows Agile and Lean methodologies. This enables the team to be responsive to change, whether it’s a change in regulation or a new feature request. Continuous Integration and Continuous Deployment (CI/CD) pipelines are in place to automate the testing and deployment of code, ensuring quick delivery of features and bug fixes.
Blackbird
- $3,000,000 Starting Bid
- $250,000 bid increments
- $150,000 deposit
- Turnkey business with its Blackbird software, includes 2 distribution licenses in Nevada
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.
The wide array of services encapsulated within MyBlackbird are:
- Website Menus: MyBlackbird offers a user-friendly interface allowing brands and retailers to easily create and manage their product listings on their own websites, promoting a streamlined and consistent user experience.
- Marketplace: The platform also hosts BlackbirdGo, an aggregated marketplace that consolidates products from all the participating brands under one digital roof. This one-stop-shop approach fosters a convenient shopping experience for cannabis consumers.
- Brand Tools: In the quest to empower brands, MyBlackbird equips them with a suite of tools designed to handle product management, campaign creation, and operations streamline. This suite promotes an environment for strategic growth and operational efficiency.
- In-Store Experience: MyBlackbird hasn’t left out the physical stores. The platform supports tablet-based in-store experiences, effectively enhancing customer interaction and engagement.
- Delivery Operations: The platform is well-equipped to manage both B2B and last-mile delivery operations, including detailed routing and meticulous scheduling. This makes it an ideal, single-codebase solution for running a comprehensive cannabis delivery/distribution company.
- Cannabis Taxonomy: MyBlackbird boasts an extensive, human-curated database of cannabis classifications. This valuable asset, curated over the years by a dedicated data management team, is a veritable goldmine for AI systems needing detailed and accurate data inputs.
If interested we have a full report on what the business needs to increase market share, and can coordinate a tour on Thursday 26th August.
Lawsuit
- $3,000,000 – Starting Bid
- $250,000 bid increments
- $175,000 deposit
- This is a lawsuit valued between $20-40M and qualified buyers will be given access to further information.
HERBL had ongoing relationships with certain businesses, which have left some unsettled disputes. In coordination with our legal team and the original legal teams from HERBL we have come to the conclusion that we have identified the most winnable disputes. Our pricing reflects a heavy discount in an effort to assign over these disputes. Also take note that there is a reserve price for this asset and all parties will be informed when it is met.
All buyers are duly informed that the assets will be delivered with zero liabilities, this will be court ordered and upon closing of the financial hearing regarding this receivership, no further changes will be made or can be brought to court. This will include but is not limited to, cannabis tax liabilities (local/state), federal tax liabilities, liens, contractual liabilities.
*All assets are sold free of liabilities*