Following an announcement in May, the company formerly known as The Hash Co. has now sold most of its assets to a number company (1000592191 Ontario Inc.) and changed its name to Street Capital Inc.

The Hash Co. announced on May 29, 2024, that it had entered into an asset purchase agreement with 1000592191 Ontario Inc. (191 Ontario). This included physical inventory and intellectual property relating to HashCo’s business for a total cash purchase price of $350,000 plus the value of the Company’s physical inventory on closing. 

In a subsequent press release on November 18, the asset transfer was said to be to 1000894579 Ontario Inc. (579 Ontario). The asset sale constitutes a “related party transaction” of the company as the vice president of production of Hash Co./Streets Capital is also the president and a director of 579 Ontario.

The Hash Co had relied on a partnership with Ontario-based Medz Cannabis Inc. for processing

The company’s cash balance as of its most recent quarterly report, June 30, 2024, was $9,401, representing a decrease of $15,466 from $24,867 as of December 31, 2023.

Total assets were $176,187, representing a decrease of $85,548 from $261,735 as of December 31, 2023.

Total liabilities were $705,096, representing an increase of $47,138 from $657,958 as of December 31, 2023. 

Product sales for the three months ended June 30, 2024, were $127,950, up from $95,463 in the same quarter in 2023. Net loss and comprehensive loss for the three months ended June 30, 2024, was $22,514, compared to a loss of $211,443 in the same period in the previous year.