A FIRM backed by David Beckham that makes use of cannabis-derived chemical substances to make skincare merchandise has slumped.
Mobile Items suffered a pre-tax loss of virtually £6million within the 12 months to August 31 after a £3.33million loss final 12 months.
Bosses blamed larger prices, slower than anticipated gross sales in addition to difficult business and regulatory circumstances.
Ex-England captain and pop of 4 Becks, 47, owns round 5 per cent of the London-based firm.
It raised £13million when it launched on the inventory market final 12 months amid fanfare in regards to the cannabinoid sector.
The firm, whose shares fell virtually 24 per cent yesterday, plans to accumulate rival Cannaray Manufacturers.
Chairman Darcy Taylor mentioned the purpose was to “speed up development and generate long-term worth for shareholders”.