Item 8.01 - Other Events
In recent quarters the Company has experienced declining activity due to weakness in the macroeconomic environment of the cannabis market, which is facing increasing competition and declining wholesale prices as consumers become more sophisticated and selective when choosing products. The overall controlled environment agriculture market is also experiencing a fluctuating economy, rising costs, and the fear of recession that is delaying, reducing or eliminating capital projects. Additionally, the Company faces continued supply chain, labor and inflationary issues that are impacting customers' contract decisions and implementation. As a result, the Company has taken cost saving initiatives to reduce operating expenses and to reduce its workforce so as to preserve working capital and liquidity without compromising the servicing of Company clients.
Item 9.01 Financial Statement sand Exhibits
(a) Not Applicable (b) Not Applicable (c) Not Applicable (d) Exhibits Exhibit No. Description 99.1 Press Release datedFebruary 27, 2023 , relating to cost saving initiatives 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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