AUTHORED BY: JORDAN ZOOT
Managing Director & CEO – aBIZinaBOX Inc. – CPA’s
Accounting, Attest, Tax, Regulatory Compliance and Technology
Evanston HQ [Chicago] – Oakland – New York
Verticals: California Commercial Cannabis Industry, Alt. Investments/Private Equity, Real Estate, Professional Services, IRS Controversy, OPR Practitioner Represenatio and Distressed Assets/Debt
Advanced & High Complexity Cloud Integrator
AICPA PCPS, CAQ, IMTA, CITP
ISACA CGEIT, CISM
Technologies & Platforms – with Certifications and Full Partner Program Members
Google Cloud Partner – G Suite, Education, Chrome, Android
Google Partners – Adwords & Analytics
Microsoft CSP Silver Partner – Office 365, Azure Platform
Amazon Web Services – Consulting Partner, EC2, S3, Dockers
Collab., Sync & Sharing – box.com, Dropbox Business, cloudHQ.net
Enterprise Apps – salesforce.com, Evernote Business, Zendesk
workato.com – Advanced Integration Platform, Fishbowl Inventory & ERP
Financial Apps – Xero Gold Accounting Partner, METRC,
AICPA – PCPS, CAQ Member Firm
State CPA Societies in California, Florida, Illinois, New York and Texas
Members – ICAEW, CIOT, CAANZ, and The Tax Institute in the UK and Australia
Expertise with Regulatory Compliance – US – HIPAA, FINRA, SEC Rule 17(a)(3)/(4), eDiscovery, FINCEN – EU- EBA, ESMA, EIOPA UK – BoE, PRA, FCA
AICPA Member Firm
– Center for Audit Quality Firm# 2092102
– Private Companies Practice Section Firm# 02092102
Coke With Your Cannabis? – CBD craze meets Coca-Cola. After an early morning report yesterday that Coca-Cola is in talks with Canadian cannabis company Aurora about CBD-based wellness beverages, the media went wild with headlines suggesting that the world’s largest beverage company was basically cannonballing into the cannabis industry.
Not so fast.
Cannabis Wire reached out to confirm the report about Aurora, and a Coca-Cola spokesperson declined to comment “on reports and speculation of talks with Aurora or others.”
While Coca-Cola did confirm interest in CBD in a statement published on their site later in the day, they presented it as totally unrelated to the plant … from which CBD is derived.
“We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”
While, perhaps, they could be talking about CBD derived from hemp, CBD is still very much part of and one of the most abundant compounds contained in “marijuana or cannabis.”
Let’s be real. This is like saying you are eyeing the chicken nugget market, but have “no interest” in chicken.
it’s unlikely that a major company like Coca-Cola would offer a product infused with CBD in the United States until the federal law changes, said Kris Krane, president of 4Front, a firm that advises companies on the legalities of marijuana and an expert on cannabis law. He said he would expect that Coke would develop the product first for sale in Canada, readying it for the United States once it’s legal.
“I can’t imagine they’re doing it just for the 35 million people in Canada, they clearly have an eye on the US market,” said Krane.
Coke could be well positioned to capture market share should CBD and other marijuana products become legal, said Bonnie Herzog, an analyst with Wells Fargo. She said in a note to clients Monday that Coke is positioning itself for the long-term. She estimates that cannabis-infused drinks could become a $50 billion annual market in the United States — nearly half the size of the $117 billion markets for US beer sales.
Both Coke and rival Pepsico have been trying to expand their businesses beyond traditional soft drinks as people drink less soda because of health concerns. Just last week, Coke announced a deal to buy Costa Coffee for $5 billion.