Dear Paragonians,
Our goal was to build a much-needed decentralized solution for the cannabis industry, however, our plans were impossible to achieve due to several legal mistakes.
We never considered ourselves experts in the matter of US securities, therefore we sought out the guidance of highly recommended lawyers that were supposed to help, unfortunately they misguided and failed us.
We did our best to launch the product, but most of our resources were allocated to legal battles and compliance requirements.
After a strong consideration and evaluation of the current situation, we are sorry to announce that we are filing for bankruptcy.
We would like to thank everyone who believed in us, thank all of the team members that were with us, and to send our deepest apologies to our beloved community.
Truthfully yours,
Team Paragon.