Diego Pellicer Faces Subpoena
Federal investigators have subpoenaed Diego Pellicer Worldwide, a newly public company whose marijuana-related business barely exists. Also, Starbucks rises to No. 2 in U.S. restaurant sales, topping Subway.
The Top 5 Things You Don’t Want to Say when introducing a new public company might be:
No. 5. We’ve received a subpoena from the U.S. Attorney.
No. 4. We’ve only got one real paying customer.
No. 3. We’re not sure when we can actually collect any money from that customer.
No. 2. We’re lending money to keep that customer running.
No. 1. We’re not sure what the U.S. Attorney wants, but in the worst-case scenario, our officers could be imprisoned and our investors hosed.
Diego Pellicer Worldwide, the company that says it’s “developing the world’s first ‘premium’ marijuana brand,” acknowledged those issues last week deep in its first regulatory filing after merging into a public shell company.
The Diego Pellicer name...
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