Marijuana Business Daily

Nasdaq warns marijuana tech firm Agrify it’s not compliant

Published

2 years ago

April 24, 2023

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The Nasdaq stock exchange has warned another marijuana company that it could be delisted if it doesn’t comply with the rules.

Agrify Corp., a Massachusetts-based cannabis cultivation and extraction solutions company, received a notice of noncompliance from Nasdaq because the company hasn’t filed its 10-K form with its full-year financial results to the U.S. Securities Exchange Commission on time.

The company, which trades on the Nasdaq as AGFY, could be delisted from the exchange if it fails to regain compliance, according to a news release.

Agrify has until June 20 to submit a plan as to how it will regain compliance.

If the Nasdaq accepts the plan, Agrify will have up to 180 days to file the 10-K form.

If Nasdaq rejects the plan, the company can appeal the decision.

No action will be taken at this time.

Agrify said it is restating financial results

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Colorado cannabis operator’s testing experiment yields damning pesticide, microbial and potency results

Published

15 hours ago

February 3, 2025

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More than 85% of regulated marijuana products sold in Colorado’s adult-use market might violate health and labeling laws, according to a recent report by one of the state’s cannabis operators.

Frustrated by the apparent reluctance of the Colorado Marijuana Enforcement Division (MED) to test state-regulated cannabis products and punish those found to be breaking the law, Justin Singer, CEO of manufacturer Ripple, asked his staffers to visit Denver-area MJ retailers on Nov. 12 and purchase the flower, shake and pre-rolls brands “they would normally purchase.”

The company then sent unmarked, unadulterated samples – bud, pre-rolls and shake – to a state-regulated cannabis laboratory to have the products tested for potency, yeast and mold, pesticides and microbial contamination.

According to the lab results, only

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Ohio GOP lawmaker’s bill would upend voter-approved adult-use marijuana

Published

3 days ago

January 31, 2025

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A Republican lawmaker in Ohio has introduced a bill that would raise adult-use marijuana sales taxes, limit home grows and prohibit social equity licenses and job programs.

Senate Bill 56, introduced by Republican Sen. Steve Huffman, would increase the sales tax from 10% to 15% and cap the number of cannabis stores in the state at 350, according to The Columbus Dispatch.

The proposal, which also includes decreasing THC potency caps from 90% to 70% and home-grown plants from 12 to six, is a deviation from the will of voters, who overwhelmingly approved legalizing the cultivation and sale of recreational marijuana in a November 2023 ballot measure.

Leading up to that vote, lawmakers in the state’s Republican-dominated General Assembly vowed to make

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Ohio recreational marijuana market already showing signs of price contraction

Published

5 days ago

January 30, 2025

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Products in Ohio’s recreational marijuana market are showing signs of price contraction only five months after sales began.

Adult-use sales for the market topped $242.2 million in 2024, meeting industry expectations for the potential of a market that launched on Aug. 6.

And while sales are growing, an analysis of weekly adult-use data from Ohio’s Division of Cannabis Control (DCC) shows the price per item/pound in almost all the categories slid with more than half the products experiencing double-digit declines.

Plant material, which accounts for 52% of recreational sales in Ohio, almost doubled since the market opened.

Ohio consumers bought 2,158 pounds of plant material in the first week of January 2025, up from 1,284 pounds in the week ending Aug. 10.

But declining

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