THE FUTURE OF THE ACCOUNTS RECEIVABLE AND CREDIT FUNCTION IN THE EMERGING CANNABIS INDUSTRY

AG Adjustments
Posted at 10/16/2018 10:48:04 AM

INTRODUCTION

According to Forbes, “the legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual rate of 17%. Medical marijuana sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020. Adult recreational sales are estimated to jump from $2.6 billion in 2016 to $11.2 billion by 2020.” These estimates, we believe, assume that the banking system will begin treating cannabis businesses like almost every other business and make bank credit available. When this happens, as we are already seeing in the California market, cannabis related business will no longer be primarily operating on a cash basis. You will be extending trade credit on about 90% of your sales and once you reach a certain level of annual revenue, you will need to develop a Credit & Collection Department that will help you manage the second largest asset on your balance sheet - your accounts receivable. 

Your emerging business has the potential to grow significantly, but only if you can implement the operational infrastructure and financial controls that are necessary to support your growth. If you, operationally, can’t keep up with ...more

Categories: Credit & Collection Services
Tags:
  • credit
  • collection
  • accounting
  • revenue
  • risk management
  • receivable
0 Comments

Your seed spreading your customers

YADIRA SILVA
Posted at 9/27/2018 1:44:49 PM

Cannabis Branding, 3 reason to choose us: Ecological, Original, Your Cannabis Seed Represent!!!!!

Text me at +17203642759 to make yours!

www.cerdaimports.clubCannabis Seeds Branding

...more

Categories: Advertising, PR, Marketing
0 Comments

ISO - Is it worth it?

Tracy Hawkey
Posted at 3/6/2018 11:32:32 AM

ISO-certified companies all say the cost and effort to become certified is well worth it! 


As the cannabis industry becomes more competitive, a growing number of cannabis companies are looking for ways to differentiate their operations, whether that means offering value-added services or implementing the latest lean techniques. 


One best practice that many of today's leading shop's tout is ISO 9001 certification. The ISO standard is based on implementing seven quality management principles, including a strong customer focus, Evidence-based decision making, and continuous improvement. 


The basic goal of the ISO 9001 standard is to help companies provide customers with consistent, good quality products and services, which, in turn, often brings business benefits like improved financial performance. 

ISO standards are certain to help you increase profitability by

  • Improving the quality of your goods and services
  • Enhancing your credibility and build consumer confidence
  • Cutting the business costs of poor service and reduce customer complaints 
  • Processes will be aligned and understood by everyone in the business which increases productivity and
...more

Categories: Advertising, PR, Marketing  |  Consulting  |  Compliance & Policy  |  Branding Services
Tags:
  • Compliance
  • ISO
  • Certification
  • Profits
  • Continuous Improvement
  • Evidence-Based Decision Making
  • Quality
  • Enviornment
  • Health & Safety
  • Customers
0 Comments

Press Release: L’Eagle Presented with NCIA’s Excellence in Innovation Award for Cultivation

JB Woods
Posted at 3/1/2018 5:18:21 PM

L’Eagle Services Presented with NCIA’s Excellence in Innovation Award for Cultivation

In an industry where the standard is often quantity over quality,

L’Eagle Services sets itself apart with sustainable cultivation practices

DENVER (Feb. 8, 2018) – The National Cannabis Industry Association (NCIA) has recognized, L’Eagle Services — a Denver based cannabis cultivator and retail dispensary specializing in clean cannabis — with the NCIA Excellence in Innovation Award for their leading edge in sustainable cultivation practices.

The NCIA Industry Awards recognize the best and brightest in the business, who are working to advance the cannabis industry. NCIA’s Excellence in Innovation Award is presented to those who are moving the industry forward by bringing an innovative idea to life in three categories: cultivation, infused products and extraction and business strategy and innovation.

Named The Cannabist People’s Choice Award Winner for Best Dispensary in 2018, L’Eagle Services prides itself in providing consumers with high quality, clean cannabis they can trust. L’Eagle implements sustainable practices from seed to sale bringing forward an innovative method for cannabis cultiv...more

Categories: Advertising, PR, Marketing
Tags:
  • leagle
  • ncia
0 Comments

New Coinsurance Calculator Availble to the Cannabis Industry

JB Woods
Posted at 3/1/2018 2:42:36 PM

Impact of Coinsurance on your Business Property and Cannabis Coverage


Every cannabis business goes through the process of trying to determine the proper amount of property insurance and understanding key policy terms.  One of those terms is named coinsurance.  Basically, it's a calculation used by insurance carriers to determine the amount of a loss paid after a claim for business personal property coverages.  Property means building, cannabis,  grow equipment, computers, display cases, tenant improvements, or other property owned by the cannabis company.  Commercial liability policies will not have coinsurance.

Coinsurance is always expressed as a percentage.  For example, a cannabis licensee may insure their grow equipment for $500,000 with an 80% coinsurance factor.  A retail marijuana store might insure the building for $350,000 and cannabis stock for $100,000.  Other coinsurance factors may include 90% or 100% as insurance policies will have one coinsurance factor.

For this reason, a online tool is available to the cannabis industry to help figure out the impact of coinsurance for determining their property values.   You ba...more

Categories: Insurance
Tags:
  • coinsurance
  • coinsurance calculator
  • online coinsurance calculation
  • business personal property
0 Comments

First surety bond program for cannabis industry approved by insurance commissioner

Greenpoint Insurance Advisors, LLC
Posted at 2/21/2018 5:25:54 PM

FOR IMMEDIATE RELEASE:
  February 21, 2018 (#021)

MEDIA INQUIRIES ONLY:

Media Relations: 916-492-3566

After Hours media only: 916-599-1320
                                                                                                       Email inquiries: cdipress@insurance.ca.gov

SACRAMENTO, Calif. — Insurance Commissioner Dave Jones announced today he has approved the first surety bond program for the cannabis industry in the State of California. Continental Heritage Insurance Company is the first insurer in the state to be approved to offer surety bonds for the cannabis industry.

“Cannabis businesses should have insurance coverage available to them just like any other Califor...more

Categories: Insurance
Tags:
  • bond
  • california
  • commissioner Dave Jones
  • Marijuana Bond
0 Comments

Cannasure and Next Wave Insurance Collaborate on Cannabis Insurance White Papers

Greenpoint Insurance Advisors, LLC
Posted at 2/17/2018 8:15:04 AM

National Cannabis Industry Association Forms Insurance Sector Committee


Two cannabis Surplus Lines Brokers Cannasure and Next Wave Insurance have formed a committee to change the cannabis insurance industry courtesy of the National Cannabis Industry Association ("NCIA").  For NCIA members and non-members, the NCIA offers several committees involving industry experts on a variety of topics.  As such, a committee to tackle and parse through the myriad of issues associated with insuring cannabis made up of lawyers and insurance professionals. 

The chairperson is Cannasure's very own Mr. Patrick McManamon with Mr. Ian Stewart, Esq. as its vice chairperson from the law firm of Wilson Elser.  The committee has two members from Next Wave Insurance, Mr. Michael Aberle and Mr. Jeff Ward to be certain they are properly represented.  

The first committee of its type appears mandated to discuss risk management, insurance coverage issues, and deciding where the next lawsuit will arise involving insurance.  Cannasure and Next Wave Insurance are both licensed surplus lines brokers that operate throughout the United States appointing insurance brokers...more

Categories: Insurance
Tags:
  • quote
  • cannasure
  • next wave insurance
  • insurance
  • insurance committee
  • Patrick McManamon
  • Michael Aberle
  • Jeff Ward
  • Ian Stewart
  • insurance discount
  • Wood Gutmann & Bogart Insurance Brokers
  • Faces Human Capital Management
  • Ag Adjustments
  • Horst Legal Counsel
  • Emerge Law Group
  • New Growth Insurance
  • Wilson Elser
  • CBZ insurance
  • Alpharoot
  • Venbrook Insurance Services
  • Norick Risk Funding Concepts.
0 Comments

JEFF SESSIONS AND 280E DEFENSE

James Thorburn
Posted at 1/4/2018 5:26:51 PM

Dear NCIA friends:

As we embark upon 2018, Thorburn Walker continues to be at the forefront of cannabis tax defense.  It was disappointing, but not unexpected, that Jeff Sessions would rescind the Cole and Ogden Memos.  However, it was this possibility that kept us moving in aggressively defending IRS audits of cannabis clients. 

Jeff Sessions is giving the green light to cannabis prosecution. Whether or not they will occur remains uncertain.  Regardless, given the dual nature of IRS 280E audits, it is important to protect your rights.  The cold, hard, truth of Section 280E is that it applies only to persons who are operating in violation of drug laws.  In the IRS’s view of the statute, those who sell cannabis are violating federal criminal drug laws and, thus, Section 280E applies.

We believe that the IRS has been sharing audit information the Department of Justice.  The IRS denies this is occurring.  What we do know from our court cases, however, is that the IRS/DOJ is zealously defending their ability to share audit information.  Given that DOJ is one step closer to actual prosecutions, this potential for sharing becomes even mo...more

Categories: Lawyers & Legal Services
Tags:
  • 280E
  • Jeff Sessions
0 Comments