You read this week’s publication New Cannabis Ventures Weekly Newsletter we publish from October 2015. We no longer send them. By mail as before but we post this and all newsletters On our website hereA number
Friends,
At the beginning of this year, Curaleaf lost the trial in the Michigan Federal Court and owes the plaintiff to Hello farms – $ 37.3 million.
Curaleaf revealed it in their quarterly performances last month.
The annual application of 2023 mentioned that the company has taken operations in Q3 and wanted to sell assets. The annual publication of 2024 revealed for sale of some assets, and the company was investigated by the state in 2020 and 2021 taxes, which began in 2024. It also started in 2024.
In March, the company appealed.
Here is the content table.
Hey, although it is unfortunate that cannabis is really federal illegal, can the industry use it as a reasoning that makes a sign. The contract between GR Midisary and Hello Farms required that GR VENING bought to go to Gauze from Hello Farms. GR Vending is grassy but the head of Khtrkh Was purchased in 2020A number of acquisition has been Declared in 2019 And the company expanded Michigan and several other states.
At the same time, when Curalef fights the plaintiff to make a decision, it does not pay 280 Tax. In August 2024, it is said that in its financial documents.
As of June 30, 2024, the company has adopted a new Federal and State Income Tax, claiming that the restrictions on Section 280 of the Internal Revenue Code (Section 280e) do not apply to the company’s cannabis. In addition, the company intends to amend the Federal and State Income Tax Income Tax Declarations for 2022 at the request of the company’s business.
The balance sheet has changed dramatically during the year, the last Q2 balance, which shows the income tax $ 6.26 million worth $ 6.2 million a year ago. It increased from 6/30/25 to $ 14.1 million, which is still low where they have changed. In June 2024, the uncertain tax position sharply expanded from $ 339.8 million to $ 79.1 million. It is now $ 476.9 million. In the first half of 2025, the company paid $ 20.9 million for taxes.
Disappointment is a big problem and losing in court causes a big problem. The lawsuit requires that the federal illegalism of cannabis does not mean that it is mandatory how to pay 280e taxes. If 280E taxation ends, the company may allow the decision to pay the verdict to the farm farms.
If 280E tax remains, Curalef must work with its terrible balance. At the end of Q2, it reported a total of $ 2.92 billion, which dropped by 1% from the end of the year. The total liabilities amounted to 1.98 billion dollars, and from the end of the year they rose by 1%. The total capital of $ 871.3 million, but this included in intangible $ 1.06 billion, and Gudvill – $ 636 million. Tangible equality – $ 824 million. The company’s debt amounted to 561 million dollars, the majority in 2026. About the call of the conference, General Director Boris Jordan suggested that the debt be refinanced until the end of the year.
Kiallen decreased by 22% to 22%, Jordan, Jordan and Executive Chairman and General Director since 2015. MSOS has made it the largest position, adding control of its shares more than 46%. The draft analysts of 2025 adjusted EBITDA by 2025, and a decline in 11% from 2024. The company has a worse balance, it feels that the adjusted EBITDA is reduced and I think is expensive.
The current assessment of the comparison of passioniffs is sufficient to remove investors from it, but another cannabis cannabis desire to make a decision to be illegal, alarming.
Frankly,
Alan
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Based on the Houston, Alan cries out his experience as the founder of the online community 420 InvestorThe first and still the biggest decent diligent platform focused on the shares sold in the cannabis industry. Alan continues to find new ways to connect industry and facilitate its sustainable growth in the Canepuni community. Approximately New hemp enterprisesHe is responsible for content development and strategic alliances. Until the early 2013 focuses on the cannabis industry, Alan, who began his career in Wall Street, worked as more than two decades of research and portfolio. Article 650 of the Article 650 published in 2007 Looking for alphaWhere he has 70,000 followers, Alan is a frequent speaker for industry conferences and a Frequent source The media, including NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Ration | Facebook | Connection | Email
New Cannabis Ventures offers readers this easy-to-read exclusive summary of BDSA’s 15-state monthly cannabis sales data.
In January, cannabis sales decreased sequentially by 3.1%. In this review, we break down the results by state, starting with the western markets and then ending with the eastern markets. Overall, the BDSA estimates sales in 15 markets totaled $2.07 billion in January, up 4.6 percent from a year earlier. BDSA updated its Illinois numbers after the state recently changed the way it counts sales.
Western markets
BDSA provides coverage for Arizona, California, Colorado, Nevada and Oregon. In December, annual growth was negative in 4 states. Growth in each of these states fell in succession.
Eastern markets
BDSA provides coverage for Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, Ohio and Pennsylvania. Annual growth in December ranged from -3.1% in Missouri to +37.6% in New York. Ohio began using adults in August, spurring growth. Note that Florida and Pennsylvania are medical markets only. On a daily basis, sequential gains declined in eight markets. Annual growth was negative in both markets and sharp in both states. We warned of a potential slowdown in Florida despite strong dispensary and unit volume growth due to competitive pressure.
For readers interested in a deeper look hemp markets in these fifteen states and more, including segmentation by additional product categories, brand and product details, longer history and segmentation by product attributes, learn how BDSA Solutions can give you access to actionable data and analytics.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
Illinois released sales figures for two months on Friday. The last time it released the data in November, the state did a major review of historical sales after a long delay, and it was updated to October. The previous report was for Cannabis for adults in May. The November document explained that the lack of data was due to the Metrc transition. “Sales tracking features in Metrc help retailers more accurately and reliably report actual sales, including all discounts and promotions at checkout. A careful review of past data shows that some initial discount prices were collected in previous months.” Here is the updated data until the end of 2025.
Statewide adult cannabis sales rose 5.6% sequentially to $116.6 million in December, up 2.2% on the day. Year-on-year growth was -23.9%, a slight improvement from November’s -26.1% growth. Here is a chart of adult sales over time:
After growing 106% in 2021, 13% in 2022 and 5% in 2023, annual sales for adults are set to grow 5.4% to $1.72 billion in 2024. In 2025, they decreased by 12.5% to $1.51 billion, which was lower than the total in 2022.
There hasn’t been an update from the state on medical cannabis in a while. The state exempts the sale separately from its medical plan, and April issue showed that sales fell 1.6% sequentially to $19.7 million, down 13.2% year over year.
Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.
friends,
This week, Scotts Miracle-Gro, the largest stock in the Global Hemp Stock Index by market capitalization, announced that it has found a buyer for its Hawthorne Gardening Company business in Vireo Growth. This news first appeared in an online article published by the Wall Street Journaland then Vireo issued a press release like Scotts Miracle-Gro, which also reported in its fiscal 1st quarter.
The deal is not a done deal. Vireo called it a “non-binding memorandum of understanding” but did not discuss the terms of the deal or when it might close. Scotts Miracle-Gro, which had already told investors it was working on this type of deal, did not disclose Hawthorne’s financial results for the 1st quarter. Analysts didn’t really ask any questions about it during the conference. The WSJ article said Vireo is giving Scotts Miracle-Gro 13% of its stock in return, but neither company has disclosed that in their press releases or SEC filings.
I include SMG in my 420 Investor Focus List, but Vireo is not a member of that group. Vireo also failed to qualify for the Global Cannabis Stock Index due to its low trading volumes. As I detailed five weeks ago, The Vireo has grown very large in terms of revenue and its geographic focus. The stock was then at $0.625 and is now lower, closing at $0.55. On Christmas Eve, the decline was 12.0%, while the MSOS fell 10.1%.
Maybe investors are interested in this deal and I’m not. First, it’s not a done deal. Second, to purchase Hawthorne, the investor must assume 280E taxation risk. Third, the price seems high, as 13% of the company is worth about $75 million. Fourth, it’s not clear to me that marrying a hemp operator with a subsidiary makes sense as I recall TILT Holdings.
I have followed Hawthorne Gardening for a long time and am glad that CEO Hagedorn and his team have gone ahead and purchased it and expanded it. The hemp industry has been struggling for about five years, and the big drop in Hawthorne Gardening’s revenue is not SMG’s fault in my opinion. It’s not clear to me how Vireo Growth will make it a better action, but I hope it has a good plan.
I continue to believe that investors should pay close attention to what is happening with shares in Vireo. This potential acquisition was not something that was discussed by analysts or investors, but today’s volume of 277 thousand shares was very low. Once again, Vireo, thanks to its aggressive M&A activity, has become the 7th largest MSO in the NCV Revenue Tracker. It remains very troubling to me that stocks are not earning a lot of interest.
Sincerely,
Alan:
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Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El
