theranos

Hypothetically of course, the more I think about nuEra Cannabis and their Theranos-style strategies, the more I wonder: if they’re following the playbooks of Theranos, Nikola, and WeWork basically to the letter, do you think they’d take it further? Like, would they consider starting fresh in another state while lawsuits and complaints are still swirling? So I researched today.
Take MoviePass, for example. Back when they were struggling, they tried to pivot with new ventures in different regions, hoping no one would connect the dots. And now? Are nuEra executives and ownership following that same blueprint?
Let’s think about this. In June, Prairie Cannabis was formed and now use nuEra permits. Then, just two months later, Kentucky starts lighting up with multiple new cannabis named LLCs “Herby,” “Cultivate,” “Chronic.” Honestly, the creativity with the names deserves a slow clap.
Now here’s the funny part. Do you think they’re using any money from Illinois or Michigan operations to fund these shiny new ventures? Hypothetically, could that raise questions about financial compliance or even fraudulent conveyance? I'm sure a discovery, a new round of lawsuits, or the SEC will find that out.
And what about their timing? Doesn’t it make you chuckle? With Illinois and Michigan assets, they’ve got ongoing litigation for fraud and breach of contract, multiple SEC complaints mentioning fraudulent valuations, and a bad-faith buyout attempt that screams, “strategic garnish.” Then, suddenly, almost everyone connected to the lawsuit executives, owners, and spouses have their own cannabis-named company in Kentucky. Is that a coincidence?
And let’s talk about their legal team. Do you think they pitched this strategy? Did someone hypothetically say, “This won’t raise any eyebrows! Let’s start a whole new operation mid-lawsuit in a state no one’s watching.” Bold move, right?
Why Kentucky? Is it because the market is ripe for opportunity? Or does it feel more like a Hail Mary to rebuild while pretending no one’s paying attention? How many LLCs does one group need before people start asking questions?
At the end of the day, patterns like this are hard to ignore. Once you see them, it’s impossible to unsee. And if I’m sitting here laughing at the play, do you think regulators or jurors might find it amusing too? Asking for a friend...
But hey, I’m just the guy with the receipts, pointing out what’s right in front of us.
Catch more on this soon on F'nAround in the Morning. Catch up at FnAround.com.
Happy New Year, folks! Here’s to a 2025 full of transparency