17 May 2017

Reported via MJ Biz Daily..

Minnesota Medical Solutions posted a $1.2 million loss in 2016, a year after losing more than $3 million. But LeafLine Labs’ losses worsened: The company said it lost $4.7 million last year, after losing $2.2 million in 2015.

Those figures come from annual financial statements the private companies provided the state that were obtained through an open records request. MinnMed CEO Kyle Kingsley painted his company’s decreasing losses as a positive, and said he hopes to break even in 2017.

The continued losses are driven largely by Minnesota’s program being among the most restrictive of 30 states that allow medical marijuana.

Full report at  https://mjbizdaily.com/minnesota-medical-cannabis-companies-losing-millions/