Citation :
Dan Bilzerian‘s cannabis company Ignite has just filed its financial report with the Canadian Stock Exchange, and things aren’t looking good for it: in 2019 alone, it suffered a net loss of $67 million CAD, which equates to roughly $50 million USD. More specifically, the company spent $22 million USD on its marketing budget alone, which was already more than double of its sales revenue. The staggering costs can be associated to various branded parties and events with free-flow drinks and supermodel guests. In total, Ignite lost $43 million USD on operating costs, funding its marketing and promotions while paying for office leases as well as compensation for staff members and executives. With finances deeply in the red, the future of Ignite is now being called into question.
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