Kaya Holdings Inc (OTC: KAYS) is a cannabis and psilocybin company that operates state-licensed marijuana retail and cultivation businesses alongside a psilocybin treatment facility. Revenue comes from retail cannabis sales and, through its Oregon-licensed facility The Sacred Mushroom, fees charged for psilocybin therapy sessions. The company holds medical cannabis cultivation and processing interests in Greece through majority-owned subsidiary Kaya Farms Greece, which owns 50% stakes in Greekkannabis and Greekkaya, both of which hold development licenses for cultivation projects in Epidaurus and Thebes, Greece. As of December 31, 2024, the company held cash of $39,668 and inventories of $90, with total current liabilities including accrued interest of $3,005,107, derivative liabilities of $2,497,275, and a tax liability of $902,166, reflecting a deeply distressed balance sheet. Craig Frank, age 64, serves as Chairman, President, CEO, and Acting CFO. The company operates with a single officer overseeing all transactions and carries a stockholders' deficit as of December 31, 2024.

Revenue model

Transactional retail cannabis sales and fee-based psilocybin therapy sessions at The Sacred Mushroom facility in Oregon. Medical cannabis cultivation and processing operations in Greece are at an early development stage.

Products and services

State-licensed recreational and medical cannabis retail; psilocybin therapy sessions at The Sacred Mushroom (Oregon OHA-licensed facility); medical cannabis cultivation and processing through Greek subsidiaries Greekkannabis and Greekkaya.

Customers and end markets

Retail cannabis consumers in state-legal markets; individuals seeking psilocybin therapy for mental health conditions in Oregon; potential future medical cannabis buyers in European markets where legal.

Value-chain role

Vertically positioned as a cannabis retailer and psilocybin therapy delivery provider. In Greece, operates as a cultivator and processor of medical cannabis through joint ventures. Describes The Sacred Mushroom as a 'Delivery of Treatment' provider for psychedelic therapies.

Geographic exposure

United States (cannabis retail and Oregon psilocybin operations); Greece (medical cannabis cultivation projects in Epidaurus and Thebes via Greekkannabis and Greekkaya, acquired in 2021).

Competitors

Compass Pathways, ATAI Life Sciences, Cybin

Source: SEC 10-K, filed 2025-04-29

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