At the end of the week, yes, it’s another “playboy” (we’d say throwback) cannabis CEO getting his just desserts.
Dan is a grown man that hangs with Marshmello which as this story unfolds is a great analogy for the level of hubris that he’s engaged with.
The sexism displayed on his instagram account would make Hugh Hefner blush
We’re reminded of this South Park episode !
Dan Bilzerian, CEO of cannabis company Ignite International Brands Ltd, and so-called Instagram playboy who posts images with stacks of cash and models on yachts, is being sued by a whistleblower amid reports that the company lost $50 million last year.
Curtis Heffernan, former Ignite executive vice president, claims he was fired after flagging unordinary purchases to the company board, including $75,000 on paintball field, $40,000 on a rock climbing wall, $60,000 on a “Star Wars” gun set, $31,000 on pool renovations, $50,000 on a bed frame, $15,000 on a ping pong table, and $88,000 on a vault, TMZ reports citing court documents.
Heffernan claims he also found evidence that some “business expenses” charged to Ignite were for household items, groceries, luxury yacht rentals, and transportation for models. He claims that when he brought the discrepancies to the board, Bilzerian accused him of doing drugs and fired him. Heffernan is seeking compensation for damages.
Read the full story at
Dan Bilzerian Accused of Partying Away Ignite Funds Amid $50M Loss
Bloomberg also have the story https://www.bloomberg.com/news/articles/2020-07-08/ex-ignite-chief-says-he-got-fired-for-curbing-bilzerian-s-bills
It might have gone unnoticed in the middle of early pandemic that Ignite hired a new CFO especially as they didn’t want to tell anybody in the US- we wonder why !!!
Ignite International Brands, Ltd. Announces Hiring of New CFO
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VAUGHAN, Ontario, May 13, 2020 (GLOBE NEWSWIRE) — Ignite International Brands, Ltd. (CSE: BILZ; OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brands company, is pleased to announce that it has hired a new Chief Financial Officer, with a proposed start date of June 8, 2020. While the Company is presently unable to disclose the name of the new CFO who will be joining IGNITE, he is a Chartered Professional Accountant with extensive experience across a diverse group of industries in companies ranging from small and privately held to publicly traded fortune 500 organizations. Most recently, the new CFO was the chief financial officer at public and private consumer packaged goods companies focused on the North American beverage market, although he also brings extensive knowledge of international operations, including in Europe and Asia.
IGNITE is also announcing today that its Chief Financial Officer Edoardo (Eddie) Mattei has resigned from the Company as of May 8, 2020 to pursue other opportunities. The Company would like to thank Mr. Mattei for his contributions during his tenure as IGNITE’s CFO.
Prior to the new CFO joining IGNITE, Carrie Magee, VP of Finance and Corporate Controller, will assume the day-to-day responsibilities of the CFO. More details about IGNITE’s new CFO will be made available closer to the proposed start date.
IGNITE is a global consumer brand, operating in the premium product segment of the market. Founded by Dan Bilzerian, the Company’s ‘quality-first’ approach is fundamental to the brand and its products. Originally operating in the cannabis and hemp-derived cannabidiol (CBD) wellness space, IGNITE was able to establish its brand awareness. IGNITE product categories now include a full line of CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, produced by various partners and sold through select distributors, brick and mortar retailers, and online through the Company’s website, ignite.co. The IGNITE THC product line, which was launched subsequent to the CBD product line, incorporates quality, locally sourced, cannabis products.
Since the launching of its THC and CBD products, the Company has expanded into the beverage space, launching a full line of functional performance enhancing drinks. The IGNITE beverage line currently consists of PH-alkaline balanced water, a line of premium performance drinks, named Z-RO as well as a gluten-free, seven-time distilled vodka. IGNITE beverages will be distributed nationally within the United States and available to purchase on the IGNITE beverages website, IgniteBeverages.co.
IGNITE is a socially responsible company and is committed to using its marketing and brand power as a positive catalyst for a healthy lifestyle. The IGNITE management team believes that socially responsible oriented actions have a positive impact on the Company, its employees and its shareholders.
Shares of IGNITE are listed on the Canadian Securities Exchange (CSE) under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.
Further information on IGNITE can be found on the Company’s website at ignite.co
For further information, please contact:
Linda K. Menzel, General Counsel
Email: [email protected]