Business

iAnthus in Trouble After Defaulting, CEO Resigned

4/30/20 by DAN ULLOA The Multi-State Operator (MSO) iAnthus has been in a great state of tumult after defaulting on a large loan which led to an investigation that caused their CEO to resign. iAnthus came under great scrutiny when they were unable to make an interest payment of $4.4 million on their debt of $157.5 million to Gotham Green Partners. Founder and CEO Hadley Ford resigned from the company on Monday when the conclusion of the investigation was announced. It was found he failed to disclose two loans that amounted to $160,000 which were deemed a conflict of interest. It was a conflict because they were personal loans to Ford. They underwent an internal investigation that included hiring Canaccord Genuity Corp. as a special advisor. They found that Ford should have disclosed the pe...

How Vertical Integration Failed FL Patients & Cannabis Businesses

How Florida’s Vertical Integration System Failed Patients and Businesses Most of us will hear the phrase “don’t judge a book by its cover” at least a hundred times in our lifetimes.  Unfortunately, it seems that we have not yet collectively applied that insight to cannabis. Too often we meet people who believe cannabis is bad because it is federally illegal. Then, those same people flip flop when their state offers a medical cannabis program. This is exactly what we saw when Florida approved the sale of medicinal cannabis through a vertical integration system. For those unfamiliar with Florida’s vertical integration, it is a system that limits the number of companies allowed to hold a Medical Marijuana Treatment Center (MMTC) license and sell cannabis within the State. MMTC licensees must ...

5 Cannabis-Related Businesses We Should See in 2020

As we roll into what people are calling “the Blazin’ 20s,” here are 5 cannabis-related businesses I would love to see more of – especially in Southwest Florida. Cannabis Kitchens The first cannabis-related business I want to see more of are kitchens that allow people to come in and cook food to go. In states that don’t offer recreational use, maybe they can require a license like a bar does. Creating cannabis-infused gourmet meals and treats is just about the most exciting thing I can think of right now. Second only to eating them! Unfortunately, most cannabis enthusiasts can’t do this at home because they live in non 420-friendly housing. I mean, they can try, but the smell will probably get the cops called on them. So where should an aspiring cannabis chef go if they wa...