Cannitrol – Cannabis Control Agent

Marijuana news from around the world

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Alternatives to Bankruptcy for Cannabis Companies: Part 3

Part 1 of this series discussed the lack of bankruptcy protections for cannabis companies, since bankruptcy in the U.S. is an exclusively federal procedure and cannabis remains illegal under federal law and proposed a number of alternative options for businesses struggling in the current environment. Part 2 of this series focused on state law receiverships […]

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As Mastercard Exits Cannabis, There’s a Cash Opportunity

Late last month, Mastercard decided to halt their debit card transactions with cannabis dispensaries, notifying financial institutions and payment processors to stop processing purchases. This isn’t the first digital payment solution to swiftly exit the industry – late last year, vendors turned off services to their cashless ATMs. These abrupt decisions have made major headlines, shocking cannabis dispensary owners, […]

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The Distressed Cannabis Business: An Alternative to Bankruptcy

Bankruptcy is Not an Option Bankruptcy courts do not provide protection to cannabis and cannabis-related businesses.Bankruptcy can be a very helpful tool for a distressed business. Bankruptcy allows a business to stop collection actions, discharge certain debts, cancel unfavorable contracts and provides breathing room to restructure the business. What if your cannabis operation is struggling or […]

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Desperate California Cannabis Vendors Seek Credit Protection

Cannabis companies representing 45% of California’s cannabis sales are pushing a bill that will crack down on non-paying customers. Well known operators, including Kiva, Lowell Farms, Nabis and Sunderstorm, recently formed Financial Stability for California Cannabis (FSCC) and moved to support Assembly Bill 766.” The bill, nicknamed “The Cannabis Credit Protection Act,” would require a […]

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Rhode Island Embraces Adult Use Cannabis, But With A Bitter Tax Pill

Although Rhode Island is the USA’s smallest state, it has traditionally taken an out-sized dislike for cannabis and its users. It first banned cannabis in 1918 and, up until recently, had some of the strictest mandatory minimum sentences for large-scale possession, sentencing those with more than 5 kg (11 lbs) to 20 years’ imprisonment and […]

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