High Times Magazine discreetly expunges Cryptocurrency as a means of payment from the IPO webpage
High Times, a New York-based magazine that advocates for legalization of Cannabis is not tolerating payments in digital currencies for its progressing first sale of stock (I.P.O), as revealed by a web-based media.
The wind denotes the most recent in the organization's endeavors to increase capital by raising $50 million from licensed financial specialists, as reported a month ago.
Before the IPO began, High Times stated in an official statement that it would acknowledge BTC and ETH as a means of payment to increase their capital. But, only hours after the organization switched its position when submitting its applications to the US S.E.C, stating that the official statement reporting that BTC will be acknowledged "was dispersed by mistake."
In spite of submitting its documents, the organization kept on accepting BTC and ETH as paying alternatives, a representative said to the web-based media, but the organization didn't own any virtual forms of currency. Instead, an outsider exchanged the cryptographic currency into USD then directed to High Times.
"They submitted the statement to fulfill S.E.C requirements,"
the representative stated.
Presently, the crypto alternative has been expunged from the organization's investment webpage.
It is still not certain why the organization changed the decision. Nonetheless, a different S.E.C documenting demonstrates that the I.P.O – which was initially supposed to conclude on 12th Sept. has been stretched out to 31st Oct.
High Times has not answered to our call for additionally remarks until the time of writing this.