California Still Left Holding the Bag

California Still Left Holding the Bag

Summary: The state of California is owed ~$732M in arrears for sales & use, excise and cultivation taxes including penalties and interest. The vast majority (72%) is due from establishments that are out of business. The California Department of Tax and Fee...
U.S. Cannabis: A Reset Looming

U.S. Cannabis: A Reset Looming

With the progression of individual state regulated markets, entrepreneurs, investors and other industry participants have remained intoxicated by the prospects for federal cannabis reform. These interests have been further inspired by the U.S. Federal Government’s...
WEEDING OUT THE ILLICIT MARKET (UPDATE)

WEEDING OUT THE ILLICIT MARKET (UPDATE)

Arguably, one of the greatest challenges confronting the U.S. cannabis industry is the continued pressure from a thriving illicit market. Consequently, same-store top line increases have generally been insignificant and near- term consensus revenue growth projections...
A Comparative Look at Valuation

A Comparative Look at Valuation

Cannabis stocks have advanced sharply since August 29th when the U.S. Department of Health and Human Services announced its recommendation to remove cannabis from a Schedule 1 narcotic to Schedule III. The precise timing of the Drug Enforcement Agency ruling...