Kaya Holdings, Inc.

Kaya Holdings, Inc. is a U.S.-based cannabis and emerging psychedelics operator that runs retail sales, cultivation-related projects, and service activities through a network of majority-owned subsidiaries. The company also has a newer digital-assets treasury initiative, but its current business remains centered on cash-and-carry cannabis retail and development-stage cannabis/psychedelic operations.

−28 261,1 %

−5,1 %

−29 168,2 %

−96,4 %

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— Kaya Holdings, Inc.
%
Cannabis retail70% Cash-and-carry sales of cannabis products through licensed retail locations.
Cannabis cultivation and processing development10% Development-stage cultivation, extraction, packing, and related infrastructure projects, mainly in Greece.
Psychedelic services10% OHA-licensed psilocybin service center activities and related facilitation services.
Licensing and pilot studies5% Contract-based revenue from licensing agreements and pilot studies.
Ancillary services5% ATM transaction fees and other small ancillary revenue streams at operating sites.

Kaya sells primarily to adult-use cannabis consumers at licensed retail stores, where transactions are completed...

  • Cannabis retail consumersprimary

    Buy cannabis products at licensed stores on a cash-and-carry basis for immediate consumption or use.

  • Medical cannabis market participantssecondary

    Buy cultivation, extraction, and processing output from the company's overseas cannabis platform as it develops.

  • Psilocybin service clientssecondary

    Purchase regulated psilocybin facilitation services at the company's licensed service center.

  • Licensing and pilot-study partnersemerging

    Enter contracts for product commercialization, licensing, or pilot studies tied to the company's development pipeline.

  • ATM service counterpartiesemerging

    Provide ancillary fee income from ATM transactions at retail locations.

Kaya is headquartered in the United States and operates mainly through Florida, Oregon, and other U.S...

  • •United States is the core operating base and reporting jurisdiction
  • •Florida houses multiple subsidiaries and corporate operations
  • •Oregon supports licensed cannabis retail and related entities
  • •Israel and Greece are tied to the international cannabis platform
  • •Greece is a key development site for future cultivation capacity

Management is trying to fund and complete its growth projects while sustaining current retail operations and preserving...

01
Raise additional capitalshort-term

The company needs financing to fund operations, complete projects, and bridge working-capital deficits.

02
Complete Greece cannabis projectmedium-term

The Epidaurus site could add cultivation, extraction, and packing capacity if financed and completed.

03
Develop psychedelic treatment operationsmedium-term

This creates a second regulated healthcare-adjacent growth avenue beyond cannabis retail.

04
Broaden the business modellong-term

Management is adding new platforms to reduce dependence on a narrow retail base.

Kaya faces substantial going-concern, financing, and execution risk because it has limited cash, a working-capital...

critical

Going-concern / business failure risk

The company disclosed limited cash and a working-capital deficiency, making continued operations dependent on new funding.

Scope
Corporate liquidity and all operating subsidiaries
Materiality
high
high

Financing and dilution risk

Operations and project completion rely on future equity or debt raises, which may be unavailable or highly dilutive.

Scope
Expansion projects and general working capital
Materiality
high
high

Cannabis regulatory and tax risk

Cannabis operations are subject to changing state/federal rules and Section 280E limits on deductions.

Scope
U.S. cannabis retail and related discontinued cannabis activities
Materiality
high
medium

Commercialization risk

Management cited uncertainty around product commercialization and ultimate success.

Scope
Retail expansion, psilocybin services, and overseas cannabis projects
Materiality
medium
medium

Competition and pricing pressure

Retail cannabis markets are competitive and product pricing can be volatile, pressuring margins.

Scope
Cannabis retail operations
Materiality
medium
medium

Geopolitical / project-delivery risk

The Greece project has already been delayed by COVID-19 and the Russia/Ukraine war, showing external disruption risk.

Scope
Epidaurus, Greece development project
Materiality
medium
Revenue recognition timing
Quarterly revenue can be volatile and highly dependent on transaction timing
Inventory and cost of sales
Margin volatility if product costs or testing costs rise
Convertible debt and debt discounts
Higher non-cash interest expense and dilution from conversions
Stock-based compensation
Non-cash compensation can materially widen reported losses
Section 280E tax accounting
Tax expense may not track pre-tax profitability

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: 28/04/2026