High Times Closed, for now

[amanda88]

The demise of High Times has left a trail of unpaid bills and unhappy investors.
The receiver for ExWorks, the company that lent High Times Chairman Adam Levin money to buy the business, has appointed Kevin Singer of Receiver Specialists to oversee the sale of High Times’ assets to settle outstanding debts.

High Times and Levin used several properties as collateral that are now poised for sale after ExWorks wasn’t paid back.

Premiere issue, featuring model Elizabeth Donoghue Summer 1974

Stephen Kunkle, the receiver for ExWorks, filed a court document on April 4 in the Superior Court of California, Los Angeles County, naming Singer as the High Times receiver. The document also issued a temporary restraining order against the business and its related entities, which could explain why High Times dispensaries were recently closed.

The assets include:
The cannabis licenses were listed as follows: link

According to the court document, High Times must cooperate with Singer and deliver all revenue and income generated from the properties. They also must turn all property keys and the originals of all books, records, ledgers, bank records, documents, subcontracts, contracts, computer software, tax ID numbers, and other business records wherever located relating to the property.

In addition, High Times has to turn over all cash and security deposits derived from the estate, rents, profits, and all maintenance materials, supplies, equipment, inventory, and tools, plus the real property located at 2991 Martin Luther King Jr. Blvd in Lynwood, California.

High Times cover 17 November 2006

Singer will be able to operate, manage, and control the estate, plus collect and receive any rents, sub-rents, lease payments, profits, and other income from the estate, to protect, preserve, improve, and maintain the estate. However, Singer won't be responsible for paying any unpaid bills from before he took over as a receiver.

The court document also states that the borrower could declare bankruptcy, or it could enter into a settlement with ExWorks. If the latter comes to fruition, Singer would return the assets to High Times.

High Times cover July 2024 Final?​

Neither option appears likely, as bankruptcy is not usually an option for cannabis businesses and the two entities have been unable to settle for some time now.

Singer did not comment on the court document other than to say he would issue a report to the court by the end of May.

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[Creeperpark]

Good bye old friend. Another one bites the dust. I've spent many hours in those old High Times magazines in the old days. When they got rid of Nico Escondido their shit started to stink bad. After firing him and stealing his grow name without paying him. I thought they were sorry bastards and got tired of their bull shit and stupid ads and detached from them. It just wasn't the same as the old days with Nico. RIP

 

[BOMBAYCAT]

They have been going down for a long time but it got serious when they took a break from publishing during COVID. I read it for the grow articles and I miss those.

 

[amanda88]

For us in Europe it was the Icon, of weed, even holding the mag in most states here would get you 6 months for paraphernalia.
Seeing a buddy at work holding an issue and chastising him for his addiction
secured me on my anti drug stance with my employer

..talk about two faced ....lol

 

[pop_rocks]

any old head remembers high times! and i liked the ask ed dr.indoors stuff

i might have to see if i can find some ot the old issues i have
atone point it seemed like they were just all about promoting their cannabis cup, like that was the super bowl of weed and their festivals
/wink wink

that last issue looks pretty sad from a graphics standpoint
/tom forcade spins in his grave

 

[oldmaninbc]

High times was educational and an enjoyable read at one time, it was a step in the right direction for a cannabis enthusiast, in the early days.

Later years, I lost interest and didn't care anymore about High Times.

I suppose if the right editor came along it could possibly experience a renewal.

 

[Ringodoggie]

I had just about every issue ever published. Sold them on eBay a few years back.

 

[moose eater]

I still have a few key issues. The Merry Danksters from near Detroit, and their soilless mix(es), The Jerry Garcia tribute copy, and a few others.

Otherwise gave the majority of them away years ago at the reuse pavilion at the Ester Transfer Station; hope someone enjoyed them.

Worked as a licensed professional in several smaller Alaska towns and villages. One day, in one of the more well-to-do locations, in a fairly small, well-off quasi-corporate community, I received my copy in its classic plain manilla envelope.... and it had been opened.... G-A-S-P!!!

Years of front-row activism could narrowly be excused from a list of potential circumstantial evidence, BUT RECEIVING HIGH TIMES IN A MANILLA ENVELOPE????!!!!

And that panic eventually passed as well.

It was a step beyond finding your deceased dad's massive stash of Playboy magazines years after his death, while one was still young. A moment in time that's memorable to varying degrees, but which came and went of its own accord, dependent on the flow...

Maybe that Jerry copy's worth some jing now?