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Marijuana fintech firm Green Check Verified raises $6 million

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Florida-based marijuana fintech provider Green Check Verified raised $6 million in a Series A funding round led by venture capital investment firm Mendon Venture Partners.

Green Check Verified did not specify what the money would be used for.

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Mendon Venture Partners, headquartered in New York, describes itself as a “venture capital investment firm focused on the intersection of innovative technology and banks.”

Mendon co-founder and partner Daniel Goldfarb said in a statement that, “to invest, we need to see strong management, company potential, and opportunity for total market growth, and Green Check meets and exceeds our expectations in every category.”

He added that Green Check CEO and co-founder Kevin Hart’s “vision for the company combined with the regional expansion of the legal cannabis industry and increasing number of financial institutions seeking to service the ballooning universe of cannabis-related businesses makes a compelling investment case.”

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Florida marijuana licenses overdue as adult-use vote looms

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By law, the Florida marijuana industry – the largest medical-only cannabis market in the country with $2 billion in projected annual sales – is supposed to have nearly twice as many businesses involved as are operating today.

But with state voters set to decide on adult-use marijuana legalization in November, potentially inflating the value of coveted vertically integrated business licenses, the mandated expansion of Florida’s market remains on indefinite hold.

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The state accepted applications for 22 available permits in April 2023.

More than a year later, there’s no clear answer from state officials as to when those new licenses will be issued.

“There is literally nothing coming back to applicants. Nothing,” Dustin Robinson, a Fort Lauderdale-based attorney who filed one of the 73

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Marijuana lab testing accuracy improving, study in new science journal finds

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Marijuana testing labs’ ability to detect pesticides on plant material improved over the course of a four-year study.

The study, shared exclusively with MJBizDaily and reMind in conjunction with the launch of the Cannabis and Psychedelic Science Journal (CAPS Journal), analyzed nearly 350 pesticide test results collected from accredited testing labs between 2019 and 2023.

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The number of tests found to accurately measure pyrethrin and pyrethroid compounds – common insecticides that are part of some states’ mandated third-party marijuana testing regimen – improved from 89% in spring 2019 to an overall average of 94% across all eight data points.

“The ability of ATLs (analytical testing laboratories) in the cannabis industry to detect and quantify pesticides has improved over a four-year period,” according to

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New York court issues record $15 million fine to unlicensed cannabis operator

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A New York court has ordered David Tulley to pay a $15.2 million fine for operating six unlicensed cannabis stores in Cayuga, Oswego and Wayne counties, the largest penalty levied in a multiagency effort to curb illicit operations statewide.

Tulley, the owner of the I’m Stuck stores and two additional unlicensed shops in Monroe County, had been operating without a license since early 2022, according to a news release.

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Despite receiving cease-and-desist letters from the Office of Cannabis Management (OCM) and notices of violations, he continued to operate his stores, describing them as “consulting” businesses, state regulators said.

In response to Tulley defying the cease-and-desist order, the OCM inspected his stores in June and July 2023 and seized an undisclosed amount of

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