$CRWG recently announced the sale of its Plaor gaming subsidiary to focus its efforts on its specialty cannabis and consumer publishing network. Last year, the company acquired WeedTracker.com and various other cannabis-related domain names including WeedInHollywood.com and DispensaryWeed.com. The plan was to extend WeedTracker into a mobile locator app and build out the other domains into niche properties.
The rapid growth of its Plaor gaming business put some of those plans on hold, but recently, the company was forced to divest the business. On April 20th, the gaming division was sold for $3.5 million in a move that reduced its corporate debt by 43% and put it on more stable financial footing. The company's primary creditor also agreed to convert debt at a price of $0.01 per share in order to help it complete an upcoming equity financing at the same price. http://finance.yahoo.com/news/crowdgather-crw...00586.html
The rapid growth of its Plaor gaming business put some of those plans on hold, but recently, the company was forced to divest the business. On April 20th, the gaming division was sold for $3.5 million in a move that reduced its corporate debt by 43% and put it on more stable financial footing. The company's primary creditor also agreed to convert debt at a price of $0.01 per share in order to help it complete an upcoming equity financing at the same price. http://finance.yahoo.com/news/crowdgather-crw...00586.html
