Marijuana Sales, Funding & Banking News

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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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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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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