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Item 9 Labs Corp
2111 E HIGHLAND AVE, SUITE B375
Phone: (480) 463-4246p:480 463-4246 PHOENIX, AZ  85016  United States Ticker: INLBINLB
On 5/3/2024, the Securities and Exchange Commission (SEC) charged BF Borgers CPA PC and its owner, Benjamin F. Borgers, with significant violations of Public Company Accounting Oversight Board (PCAOB) standards across more than 1,500 SEC filings from January 2021 to June 2023. The charges included falsely representing compliance with PCAOB standards to clients, fabricating audit documentation, and inaccurately stating compliance in audit reports. According to the SEC's order, of 369 BF Borgers' clients whose public filings from January 2021 through June 2023 incorporated the firm's audits and reviews, at least 75 percent of the filings incorporated audits and reviews that did not comply with PCAOB standards. The financials in this report may include past audits and reviews conducted by BF Borgers CPA PC that are deemed not compliant with PCAOB standards.
Placed under Receivership on 7/14/2023
On 7/14/2023, Item 9 Labs Corp was placed under Receivership by the Superior Court of Arizona, in the County of Maricopa pursuant to a petition filed against the Company by Viridis Group Holdings, LLC and Viridis Group I9 Capital LLC. The Court appointed Jeremiah Foster of Resolute Commercial as the Receiver of all the real, personal, tangible and intangible property owned by Item 9 Labs Corp.
Business Summary
Item 9 Labs Corp. is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The Item 9 Labs brand specializes in products and user experience across several cannabis categories. The Company also offers a dispensary franchise model through the national Unity Rd. retail brand. The Company offers approximately 75 active cannabis strains and more than 150 differentiated cannabis vaporizer (vape) products, as well as premium concentrates and Orion vape technologies. The Company's Item 9 Labs brand specializes in select products and user experience across several cannabis categories. The Company operates through two segments: Cultivation and Franchising. Its product lines include Item 9 Labs Flower, Item 9 Labs Concentrates, and Orion 710.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
6/30/20239/30/2022YesYes---

Industries
SIC Code Description
3843 Dental equipment and supplies
2833 Medicinal chemicals and botanical products
6794 Patent owners and lessors
6719 Offices of holding companies, not elsewhere classified

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chief Operating Officer ChristopherWolven 41 1/1/2019 1/1/2019
Independent Director EricKutscher 47 1/14/2021 1/14/2021

Subsidiaries
Business Name Address City State/Province Country
OCG, Inc. 17952 Lyons Circle Huntington Beach CA United States
One Cannabis Group Denver CO United States
Wild Card Cannabis Incorporated 200 Fitch St Welland ON Canada

Business Names
Business Name
AIRW
Airware Holdings LLC
AZ DP Holdings, LLC
17 additional Business Names available in full report.

General Information
Number of Employees: 97 (As of 1/13/2023)
Outstanding Shares: 102,362,271 (As of 8/21/2023)
Shareholders: 2,904
Stock Exchange: OTC
Federal Tax Id: 980665018
Fax Number: (302) 658-3694


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Friday, November 22, 2024