AKANDA CORP.
AKAN · Medicinal Chemicals & Botanical Products · EDGAR filings ↗
Reference price $1.29 — last insider sale, 2026-01-16 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
F38Distressed micro-cap cannabis-turned-telecom holding with a massive impairment, going-concern-level cash and serial reverse splits.
Strengths
- Revenue growth from the First Towers acquisition (97th pct) and adequate current ratio (1.39)
- Some debt prepaid since the acquisition
Risks
- $44.8M impairment and net loss of $46.9M; deeply negative margins (net margin -490%, ocf margin -476%)
- ~2.5-quarter cash runway, three reverse splits in under a year and heavy dilution — near cash-out
Notable findings
- No interest coverageInterest coverage -43.78 (cannot cover interest)
- RestatementAll share and per share data in this management’s discussion and analysis and the Audited Consolidated Financial Statements for the years ended December 31, 2025 and 2024 have been retroactively resta 8-K ↗
- Net lossNet loss (net margin -489.6%)
- Cash burnNegative free cash flow (-6.1M)
Key metrics
Gross margin
24.9%
Operating margin
-523.8%
Net margin
-489.6%
Return on equity
-95.8%
Return on assets
-51.8%
Revenue growth (QoQ)
97.5%
Interest coverage
-43.8×
Current ratio
1.4×
Free cash flow
-$6M
Tangible book value
$4M
Cash & investments
$4M
Cash runway
2q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-01-16 | HRT FINANCIAL LP | Sell | 7.9K | $1.29 |
| 2026-01-15 | HRT FINANCIAL LP | Buy | 29K | $1.40 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-06-09 | 2025-12-31 | 0001213900-26-066800 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001213900-25-037490 ↗ |
| 20-F | 2024-05-01 | 2023-12-31 | 0001213900-24-038353 ↗ |
| 20-F | 2023-05-02 | 2022-12-31 | 0001104659-23-054686 ↗ |
| 20-F | 2022-05-02 | 2021-12-31 | 0001104659-22-054777 ↗ |