AAP Cancels $2M In Debt, Shifts Focus To Cannabis

AAP, Inc. (OTC:AAPJ) announced on Tuesday the cancellations of agreements with Redtail LLC. for $1.5 million and its in-house debt collections for $550,000.

The move is expected to provide the company with more focus and control over its interest in the Buddha Company, a Los Angeles-based cannabis business.

“I am very pleased to have canceled over $2 million in debt from our books I am very happy to be moving forward in building a great future for AAP, Inc,” Paul Bakajin, the company’s CEO, said.

The Cheyenne, Wyoming-based company has acquired a controlling interest in the Buddha Company earlier this month.

It is a 22,000-square-foot cannabis business located in the Arts District of Downtown Los Angeles. The company has licenses that allow for all commercial cannabis activities at one location that, include: cultivation, manufacturing, retail delivery, retail storefront, and B2B distribution.

Buddha allocates approximately 9,000 of its 22,000 square-foot facility to cultivation, and It also distributes to other local cannabis retail stores throughout Los Angeles.

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