Sales, Funding & Banking News

MyECheck Announces Payment Processing Deal to Serve Dispensaries

By Anne Holland MyECheck (OTC Pink: MYEC), a provider of mobile payment processing via electronic checks, has announced a software licensing agreement with Itonis, Inc. (PINKSHEETS:ITNS) to handle point of purchase transactions via a mobile app for medical marijuana retail sales. Does this mean dispensaries across the US will now be able to accept checks? […]

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New Marijuana Digital Currencies: Adoption, Legality Unclear

Following the lead of the online currency Bitcoin, two new digital payment options have entered the cryptocurrency market, and both are aimed squarely at the marijuana industry. The developers of PotCoin and DopeCoin claim their currencies offer customers a discreet, electronic way to pay for marijuana. They also claim that their products allow marijuana businesses […]

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Cannabis-Friendly Landlord Finalizes $4.6 Million Deal

One of Arizona’s largest real estate deals in 2014 has closed, and the property is specifically designed to attract medical marijuana tenants. Zoned Properties, a real estate company and landlord to marijuana businesses, closed on a $4.6 million transaction to take ownership of a five-acre, multi-tenant light industrial park in Tempe, AZ. Zoned Properties cited […]

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Week in Review: Mainstream Investors Finally Starting to Eye Green Rush

By Chris Walsh The dam holding back massive pools of investment money from the marijuana industry hasn’t burst yet. But cracks are starting to emerge, and millions of additional dollars could start flowing into the industry as the year progresses. The newest – and perhaps most significant – crack: An increasing number of established investment […]

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Black Market Threat to Rec Sales Lower Than Expected: Exclusive Data

By Anne Holland The economic threat the black market poses to legalized recreational cannabis sales may have been vastly overstated. According to a new consumer market research study from the editors of Marijuana Business Daily, more than 60% of cannabis users said their biggest concern when purchasing marijuana is buying it from legal sources. A […]

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Angel Investment Group Reports Big Growth

Angel investors are flocking to the marijuana industry. The ArcView Group – which connects wealthy individuals (also called “angels”) with startup cannabis companies – has seen its membership increase by 50% over the past three months. It now has 150 investors on board, each of which is looking to invest at least $50,000 over the […]

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CO Banks Won’t Finance Marijuana Properties

Colorado banks are maintaining their hard line against working with marijuana businesses; and that means no loans for business owners or their landlords. The state’s two largest banks, Wells Fargo Bank and FirstBank, say they will not offer loans to property owners who are leasing to marijuana businesses. And Wells Fargo and Vectra Bank have […]

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$900M+ in CO Marijuana Sales Expected

Colorado expects recreational and medical marijuana sales to reach at least $900 million during the state’s next fiscal year, according to an extrapolation of tax revenue estimates. The figure is tied to a budget proposal by Gov. John Hickenlooper this week estimating that the state will collect nearly $80 million in sales taxes from recreational […]

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WA Predicts $190M in Rec Taxes Over Four Years

A new study on Washington State’s recreational marijuana industry shows a bright future for state coffers. The Economic and Revenue Forecast Council predicts that the recreational marijuana industry will generate nearly $190 million in state taxes during a four-year period starting in mid-2015. The first two years of that period could see the state earn […]

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After banking memos, more questions than answers

By Fred Dreier The banking guidance issued Friday by the federal government has left the cannabis industry with more questions than answers. Many in the industry hoped the memos, which provide banks with an outline for how to work with the marijuana industry, would open the flood gates for cannabis businesses to begin accessing traditional […]

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Sacramento Dispensary Challenging IRS

Sacramento’s Canna Care dispensary is battling the Internal Revenue Service over the agency’s controversial 280E tax code, which has become a major thorn in the side of cannabis businesses. According to the IRS, Canna Care owes $873,167 in back taxes for 2006, 2007 and 2008. The hefty tax bill comes after the IRS refused to […]

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