Sales, Funding & Banking News

Wrap-Up Report: East Coast Cannabis Entrepreneurs & Investors Seminar

By Anne Holland By noon yesterday, a line of executives clad in suits and business attire stretched far down a sidewalk on Manhattan’s lower east side – waiting for the doors to open for MMJ Business Daily’s East Coast Cannabis Entrepreneurs & Investors Seminar. They came from 21 states in all, from Maine to Florida, […]

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Multi-Million Dollar Cannabis Venture Capital Fund in Works, Plans to Target Ancillary Marijuana Startups

A California venture capital firm led by noted MMJ pioneer Justin Hartfield – who co-founded WeedMaps.com –  has launched a new investment fund that aims to pump millions of dollars into cannabis companies, acquire ancillary businesses and help guide fledgling marijuana firms. Newport Beach, Calif.-based Ghost Group hopes to raise between $10 million and $25 […]

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Medical Cannabis Dispensaries Losing Bank Accounts Over Large, Frequent Cash Deposits

An increasing number of medical cannabis dispensaries are losing their coveted bank accounts simply because they’re depositing too much cash, too frequently. The development presents yet another major challenge to doing business in an industry beset by numerous challenges, creating a situation in which the bigger the dispensary is, the more scrutiny it faces  – […]

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MedBox Profits Halved Despite Healthy Increase in Revenues, Growth of Medical Cannabis Industry

MedBox Inc., which provides automated cannabis vending systems and consulting services to the medical marijuana industry, saw its first-quarter net income fall 56% as increased marketing, commissions and other expenses outpaced revenue growth. The California-based company reported $272,018 in profits for the first three month of the year, down 56% from $622,150 during the same […]

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GrowLife’s Acquisition Strategy Leads to Spike in Revenues, But Wider Net Loss, in Q1

GrowLife Inc., a publicly traded company that provides cultivation equipment and related technology to the medical marijuana industry, reported a sevenfold increase in revenues during the first quarter but also sunk deeper into the red mainly due to non-cash charges. Revenues soared to $760,709 during the first three months of the year vs. $91,809 in […]

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