MEDIA
Title: Marijuana publications proving to be a pot of gold
Author: New York Post
Date: 5 April 2018
Extract:
Pot publications are one of the few growth areas in media. High Times Media, which has delayed but not canceled plans to become a publicly listed company, said Thursday it is buying Green Rush Daily for $500,000 cash plus $6.4 million in stock.
GRD, a 3-year-old cannabis news website that bills itself as the official resource of daily news for all things weed, claims to pull in 9.5 million page views a month.
Meanwhile, Tom Florio, CEO of ENTtech Media, which last year purchased Paper magazine, said he is teaming with MedMen, a recreational marijuana company, to launch Ember, a custom-published print title.
Florio is handling the content for the custom-published quarterly distributed only in MedMen’s dispensaries in California and Nevada. MedMen will soon open a medical marijuana store on Fifth Avenue in Manhattan.
High Times is in the process of being acquired by Origo Acquisition Corp. in a $250 million all- stock deal.
Press Release: Cannabis Wire To Relaunch On New Blockchain Publishing Platform, Civil, Late Spring 2018
Cannabis is rich territory for serious journalism. Legalization raises urgent questions about regulation and law, technology and taxation, science and business, criminal justice and individual liberties. It stands at the intersection of a booming billion-dollar industry and promising advances in medicine, all while remaining federally illegal.
That’s where Cannabis Wire comes in. Nushin Rashidian and Alyson Martin, the journalists who founded the publication, have been covering cannabis for national and international publications, and pushing for more responsible coverage of the legal cannabis industry, since 2010.
Legalization is rapidly spreading across the country and the globe. Cannabis Wire will focus not on the arguments about whether cannabis should be legalized, but instead cover the robust debates over how. These debates all too often bypass voters, as the industry and its regulators, advocates, and opponents trade shots on everything from DUI standards to where to send new tax revenue.
Cannabis Wire will also investigate the social and economic complexities that come with legalization, providing deep-dive analysis on evolving policy matters. It will serve as a watchdog of emerging influences and special interests in a new industry shared by those who desire regulation and those who exploit the grey areas.
COMPLIANCE
Post From Adherence Compliance
Improved Controls on Inventory Leads to Fewer Violations
Inventory is the single most challenging asset of any business, especially for the cannabis industry. Business owners and their accountants struggle with issues like identifying acquisition costs, proper valuation, costing methods and identifying and valuing waste and obsolesces, just to name a few. It is no surprise that when Adherence Compliance releases its top 5 regulatory infractions, inventory is always the top infraction for dispensaries, stores, cultivators, manufacturers and distributors.
Proper inventory controls for the legal cannabis industry is especially important because of 280E and the various state and local regulatory requirements. The best way to tackle a seemingly insurmountable problem is by getting back to the basics. By implementing a high-quality, cost effective system of internal controls over inventory, you will be creating a solid foundation for managing and properly reporting your cannabis inventory.
To begin, make sure your cannabis business has a comprehensive set of inventory standard operating procedures that includes separation of duties and dual control; purchasing and receiving; identifying, segregating and documenting waste; taking complete inventory counts and cycle counts; and documentation requirements for making entries to the accounting and the state mandated seed to sale systems. Most importantly, make sure your staff has access, training and comprehension related to your SOP’s.
Make sure you and your staff understand the impacts of inventory terminology such as free on board (FOB) Shipping Point and FOB Destination, one is a selling expense, one is a cost of goods sold expense. Understanding nuances such as these can save thousands in refiling and penalties.
If you are using technology to manage your inventory, purchase training and support and to ensure you keep the system up-to-date with the latest software and security patches from the vendor. Automated financial compliance software, i.e. SCORE App, will assist the process.
Adherence & Karla Sasser offer in-depth Financial Compliance Inspections, which include systems, inventory, waste and reconciliation reviews with suggested control updates and remediation activities for licensed marijuana operators. For more information on Financial Compliance Inspections, Inventory Reconciliation & Standard Operating Procedures (SOPs) and Training Services, please contact Adherence.
COLORADO
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Both the Health and Human Services and Marijuana Legalization Implementation Committees held final language review for their respective bills this week. Following the language review, both committees voted to send the final versions to both chambers for final passage. MLIC voted nearly unanimously, with one dissenting vote from Representative Craig Hickman, who provided his own minority report, on the adult-use bill. The bill includes updates from what the committee worked on last summer, in an attempt to garner enough votes in the chambers to overcome a potential veto; committee members are “confident they have the votes to override a veto if necessary.” This bill includes a four-year residency requirement, eliminates social clubs, and decreases the number of home-grow plants from six to three. The House and Senate have not scheduled a vote on either bill yet. |
New Hampshire Public Radio: As Neighboring States Allow Recreational Marijuana Retail, N.H. Studies Legalization |
