Dispensary owners affected by credit card companies’ moves to cut ties with the medical marijuana industry in recent years could find it exceedingly difficult to open merchant accounts for other businesses – even ones that are not involved in cannabis. In fact, owners could wind up on a blacklist that would prevent them from getting […]
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Bright Marijuana Business Outlook: 80% of Ancillary Cannabis Firms Expect ‘Big’ or Moderate Growth
The future of the marijuana industry is extremely bright, at least if you ask those who have hitched their wagon to it. Roughly 80% of executives at ancillary cannabis companies said they expect to grow this year, according to exclusive survey results in the Marijuana Business Factbook 2013. Nearly 50% of respondents said they hope […]
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Weekly Wrapup: Medical Cannabis Funding Climate Improving Amid New Deals, Developments
The medical marijuana industry may have finally turned a corner on the financing front, as evidenced by two important developments last week: #1. Five ancillary cannabis companies received a combined $1 million in funding commitments – a number that could swell to more than $2 million when the deals are finalized – from angel investors […]
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Medical Marijuana Inc. on the Defensive After Outside Criticism Sets Shareholders on Edge
One of the more prominent publicly traded cannabis companies has come under fire recently in blogs and stock message boards for its financial accounting methods and other issues, spooking investors and forcing the firm to address the allegations in a recent letter to shareholders. Medical Marijuana Inc., which owns a portfolio of cannabis and hemp […]
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Angel Investors to Pump $1 Million into 5 Cannabis Startups as Marijuana Investment Activity Picks Up
Five startup cannabis firms have received commitments for a combined $1 million in financing from angel investors, providing yet another indication that the investment climate is improving as marijuana gains more traction and acceptance across the US. The tentative deals – which collectively represent some of the most significant investment activity in the MMJ industry […]
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Massachusetts Marijuana Advocates Decry ‘Nasty’ Bill That Would Severely Limit State’s MMJ Program
Massachusetts lawmakers are set to begin debating a bill that would cap the number of dispensaries in the state to just 10, set a nonrefundable application fee of at least $25,000 for cultivation licenses and enact strict regulations on the fledgling medical cannabis industry. The Joint Committee on Public Health has scheduled a hearing on […]
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Private Equity Firm Offering $250 Million in Cash Advances to Marijuana Businesses
By Anne Holland [Updated 5/2/13] Another crack has appeared in the wall of financial services firms refusing to do business with the cannabis industry. A financial firm based in Delaware has launched a fund of $250 million to offer so-called purchase future receivables (i.e., cash advances to be repaid from ongoing business revenue) and lines […]
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83% of Existing Medical Marijuana Businesses Were Funded by Founders’ Own Wallets
By Anne Holland As new-to-dispensaries states such as Massachusetts and Connecticut propose requiring dispensary founders to fund huge escrow accounts ($500k for MA and $2 million for CT), in addition to costly licensing fees, the financial face of the industry may begin to change profoundly. As you can see from the Marijuana Business Factbook’s exclusive […]
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AZ’s MMJ Dispensary Revenues Projected to Reach $440 Million by 2016
By Anne Holland According to an economic impact study of the nascent AZ MMJ dispensary industry, retail sales of medical cannabis in the state could grow to as much as $440 million by 2016, when the industry is expected to reach maturity with 112 regulated dispensaries open. MMJ Business Daily’s own forecasts are about half that […]
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Cannabinoid Research Firm Cannabis Science, Inc. Could Go Under
By Anne Holland [Updated as of 4/25/12] According to its annual 2012 report filed today, Cannabis Science, Inc. (PINK:CBIS), may be in danger of shutting its doors. The company’s Form 10-K stated, “At this time, our ability to generate any significant revenues continues to be uncertain. There is substantial doubt about our ability to continue […]
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Weekly Wrapup: Where Does Your Dispensary Rank Financially? + Green Rush in Massachusetts
If you want to start a dispensary, you’re likely wondering how much money you can expect to bring in each year. And if you already own a medical marijuana center, you probably want to know how you stack up against the competition from a financial perspective. Surprisingly, this type of information is hard to come […]
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Medical Marijuana Inc.’s Revenues, Profits Continue to Soar as Company Seeks NYSE Listing
Medical Marijuana Inc. is quickly becoming one of the most promising publicly traded companies in the cannabis industry, posting record revenues and profits on a consistent basis and moving forward with plans to get its shares listed on a more prestigious exchange. The latest positive development came this week, when the San Diego-based company announced […]
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April Issue
Cannabis industry workers and executives can earn more than their mainstream counterparts.Read the Issue