The BC Bud Corporation has officially left cannabis and gone into digital assets. The company changed its name to Digital Commodities Capital Corp. The company is also changing its trading symbol from (CSE: BCBC) (OTCQB: BCBCF) to “RIPP” and shares will begin trading under that symbol on March 24.
The company announced in February that planned to shift from a pure cannabis company to an investment firm focused on digital and physical non-fiat assets, cryptocurrencies and resource sector investments.
Green Market Report wrote at the time that CEO Brayden Sutton said, “With the dollar losing purchasing power and inflation eroding wealth, we are committed to positioning our shareholders ahead of the curve. By investing in precious metals, cryptocurrencies like XRP and strategic stakes in resource companies, we will not only hedge against currency debasement but also gain exposure to the critical commodities that power the digital revolution.”
Trouble in cannabis
No doubt the change was implemented as the company’s cannabis revenue plunged. Recent financial statements showed quarterly revenue dropped to C$36,499 from C$262,213 a year earlier, according to a January report. The company reported a net loss for year-to-date for nine months ending November 30 2024 of C$556,641 and the company has lost money since inception.
The company said in its most recent filing that several partners had become delinquent in payments. The filing stated, “In addition, the Company ended the relationship with several groups due to their debt obligations to the Canada Revenue Agency, and the Company was forced to discontinue specific branded product sales, due to receivables not being able to be collected as these groups’ funds were garnished by government. In addition, the Company recognized an inventory impairment loss of $116,388 which was included in the cost of sales.”
BC Bud also said that it recorded a bad debt recovery of C$38,824 due to a customer sending products to the company to settle accounts receivable that were previously written off.
New chapter
Sutton added, “This marks an exciting new chapter for our Company as we pivot toward an investment strategy centered on high-growth, high-impact sectors. By transitioning from a cannabis issuer to an investment issuer, we gain the flexibility to deploy capital into emerging opportunities across digital assets, hard commodities, and resource-focused businesses. With a strong focus on sectors poised for long-term expansion, we are strategically positioning ourselves to create lasting shareholder value.”
[[{“value”:”BC Bud noted that many of its customers were not paying their bills which likely led to the decision.
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