Business

This post is brought to you by R&A Psy-Ins, an insurance broker operating at the forefront of the psychedelics industry. Risk #1 General Liability Insurance is a linchpin for psychedelic businesses and the most essential coverage to protect from a variety of claims including personal injury, bodily harm, property damage, and other situations that may…

Psychedelics are creating an alternative form of healthcare, so it is only reasonable that the industry would seek out alternative sources of funding. Nearly all businesses in the psychedelic industry are in the early stages of development, so companies are searching for funding in a less-than-favorable economic environment. While there are traditional investment opportunities available…

On Monday, Cybin released the financial results for its first quarter, ending June 30, 2023. As of June 30, 2023, the company had $9.4 million (Canadian dollars) in cash. It translates to about $6.9 in US Dollars. The press release also included the current cash position, which is $18 million as of August 14, 2023,…

The release of quarterly financial reports over the past few weeks is providing some much-needed insight into the state of the industry. It is becoming apparent which companies are rising to the top and which are struggling to stay afloat. The recent release of Braxia Scientific’s financial statement raises some questions about its ability to…