There’s a reason why Scott Yahraus’s firm, Receivership Specialists, was requested by Pelorus Fund in its recent move to force StateHouse Holdings (CSE: STHZ) (OTCQB: STHZF) to be managed by a court-appointed receiver: the company’s been taking on such jobs for almost a decade in three states, and has managed 30 such marijuana receiverships in […]
Officials in an Illinois suburb near Chicago became the latest to crack down on unregulated hemp-derived THC products, joining other local governments across the state to fill what they describe as a regulatory vacuum left by Springfield lawmakers. The Rolling Meadows City Council unanimously approved an ordinance this week prohibiting retail sales of hemp-derived THC, […]
The Internal Revenue Service faces mounting pressure to clarify cannabis tax rules, as a key Supreme Court decision threatens to upend the agency’s interpretative authority and rescheduling looms large over the industry. The American Institute of CPAs in a letter this week urged the U.S. Treasury Department and the IRS to provide advance guidance for […]
A small shop in upstate New York near Rochester has been hit with a $9.5 million fine after the owner ignored a cease-and-desist order to stop selling cannabis without a license. George West, the owner of Jaydega 7.0 in the town of Canandaigua, was slapped with the enormous fine this week by Attorney General Letitia […]
A new report from Massachusetts cannabis regulators described the past fiscal year – July 2023 to June 2024 – as a “pivotal chapter” for the maturation of the marijuana trade in the state, citing ever-increasing sales records, new social equity developments and upcoming social consumption business licenses. The annual report, issued by the state Cannabis […]
45% – Number of likely voters in North Dakota in favor of adult-use legalization Will the third time be a charm? North Dakota voters will once again vote on whether to legalize adult-use cannabis in the state. A recent poll called the measure too close to call with less than a month until Election Day. […]
Illinois’ cannabis industry hit new heights in fiscal year 2024, with adult-use sales eclipsing $2 billion and dozens of new dispensaries opened their doors. But the latest annual cannabis report from the state also reveals a market still wrestling with persistent illicit sales and an emerging threat from unregulated hemp-derived products. The report, compiled by […]
Conversations around rescheduling cannabis usually center around how such a move will affect the adult-use cannabis industry. However, the bigger impact of such a move could be on medical marijuana. If the plant is rescheduled from a Schedule I drug to Schedule III, cannabis would be on par with most prescription medicines. But there’s still […]
The U.S. cannabis industry is poised for massive expansion over the next decade, which will require big money – as $130.7 billion – to fund it, according to a new industry report. But absent federal banking legislation and greater institutional involvement, the odds a sustainable source of capital panning out are slim. The study, conducted […]
There is a tsunami of debt headed straight for the cannabis industry. When capital dried up a few years ago, many publicly traded cannabis companies turned to debt for needed funding. Now, roughly $1.83 billion of that debt is set to come due by 2026. Facing the wave There’s no way to know exactly how […]
