Connect with us

Marijuana Business Daily

Metrc threatens to close accounts of Michigan cannabis firms over late payments

Published

on


Track-and-trace software provider Metrc is threatening to shutter the accounts of what could be dozens of Michigan cannabis companies over missed monthly payments, creating turmoil in the roughly $2 billion market.

The state’s top marijuana regulator interceded Tuesday, convincing Metrc to agree to a 30-day moratorium on the suspension of accounts, MJBizDaily confirmed.

ADVERTISEMENT

A widespread shuttering of accounts would have jeopardized the operations of many plant-touching companies, which rely on Metrc software to comply with Michigan marijuana regulations.

The software is used to track the movement of marijuana products through the commercial supply chain, from cultivation to sale.

“We reached out to Metrc and asked for a 30-day extension for this, and it was granted,” said David Harns, spokesperson for Michigan’s Cannabis Regulatory Agency (CRA).

“Metrc is trying to enforce payment terms.”

It’s unknown how many Metrc customers in Michigan have unpaid bills, but the Florida-based

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Suspended Massachusetts marijuana chair sues as allegations emerge

Published

on

By


New details have emerged about the suspension of Massachusetts Cannabis Control Commission Chair Shannon O’Brien, who has filed a lawsuit alleging the punishment is unlawful.

Treasurer Deb Goldberg, who appointed O’Brien last year, said in a statement that the Cannabis Control Commission (CCC) hired a law firm to investigate “several serious allegations” made by a commissioner and other agency staffers, according to the Boston Herald.

ADVERTISEMENT

“The law firm undertook an investigation and has returned with a report,” the statement noted, without elaborating on the details of the allegations or the firm’s findings.

“According to the CCC’s employee handbook, suspension with pay is the only allowable remedy at this point, as the findings are being reviewed and action is considered.”

O’Brien was suspended with pay on Sept. 14 for undisclosed reasons and length of time earlier this month.

ADVERTISEMENT

O’Brien filed a

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Tim Conder appointed permanent CEO of marijuana MSO Tilt Holdings

Published

on

By


Tim Conder, interim CEO of marijuana multistate operator Tilt Holdings since April, has been given the job on a permanent basis.

Since taking the interim post after Gary Santo resigned, Condor has aimed to put the Phoenix-based company on a path to profitability.

ADVERTISEMENT

He has initiated significant cost reductions and reevaluated brand partnerships – including cutting ties with some social equity brands – while shifting focus to the cannabis company’s vape hardware business.

“When I took the interim CEO role, the company was cash-consumptive, really in an environment where that doesn’t make a lot of sense,” Conder told MJBizDaily earlier this month.

“Our immediate priorities were to reduce our cost structure and our expenses and increase operational efficiencies to ultimately achieve profitability.”

Art Smuck, Tilt’s newly appointed board chair, said in a news release that “Tim has been instrumental in bringing financial discipline to Tilt, and

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Oklahoma high court declines to hear challenge to medical cannabis fees

Published

on

By


The Oklahoma Supreme Court declined to hear arguments challenging a new law that significantly raises fees for medical cannabis operators.

Filed in late June, the petition will now be sent to district court in Oklahoma County, The Oklahoman reported.

ADVERTISEMENT

The petition – filed by Jeb Green, founder of Oklahomans for Responsible Cannabis Action, as well as the Bingo 101, Oklahoma Natural Cures and Pharside dispensaries – claims the new fee structure violates the state constitution and is a “revenue-raising tax disguised as a fee.”

The challenge also alleges the bill wasn’t passed through the three-fourths majority required by state law and its approval came within the last five days of the legislative session.

Oklahoma law prohibits lawmakers from passing revenue-generating bills during the last five days of a legislative session.

The state attorney general’s office argued the bill was not a revenue generator subject to constitutional

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media