QUJING, China—In China, marijuana is seen as a dangerous narcotic, and possession is strictly punished. That hasn’t stopped the country from trying to become a powerhouse in the fast-growing industry for cannabis products.
Declining cannabis prices could potentially leave some cannabis companies vulnerable to writedowns due to an accounting quirk that gives licensed producers significant latitude in valuing their assets before they are sold, say auditing experts.
“If you’re still sitting on inventory when the price of cannabis goes down, and you can’t sell your inventory for that price, you’re going to see writedowns,” said Trisha LeBlanc, a partner at Grant Thornton LLP who leads the accounting firm’s cannabis group.
Iowa farmers will have the opportunity next year to begin growing hemp.
Late last month, the U.S. Department of Agriculture issued regulations pertaining to the production of industrial hemp. The growth of the fairly new crop, licensing and testing procedures, and possible destruction of plants that fall short of tetrahydrocannabinol, or THC, requirements will be governed by the rules.
With the issuance of a wide-ranging ministry report on the medical cannabis industry, Israel is for the first time making clear its intention to back the burgeoning sector, according to a ministry official.
Cannabis-related tourism, or canna-tourism, is a niche in the cannabis sector that has a way to go to take shape as the legal cannabis industry evolves.
After Canada legalized cannabis in October 2018, many businesses started to realize that cannabis culture’s social element, similar to that of alcohol, makes the drug a natural counterpart for tourism ventures.
Tilray Inc. sold nearly five times more pot than last year, according to a quarterly earnings report released Thursday, in part thanks to the acquisition of the world’s largest hemp-food maker and early returns from selling medical marijuana in Europe.
The Second Cup Ltd., has plans to change its name and acquire its own cannabis stores as early as next year.
According to a release, the company will change its name to Aegis Brands Inc., which will continue to own and operate the existing Second Cup Coffee Co. shops as part of a portfolio of brands.
Missouri has already approved more than 17,000 patients for its yet-to-be-launched medical marijuana program — a stark contrast to neighboring Illinois, which had less than 3,000 patients in the first 10 months.
Licenses for Missouri’s dispensaries are expected to be awarded by January, and cannabis should be available for medical card holders by spring.
Although recreational pot will become fully legal in Illinois from early January next year, Chicago's Housing Authority has warned residents of public housing that they cannot use marijuana in their premises and any violation will lead to eviction.
Although New York did legalize medical marijuana in 2014 with the passage of the Compassionate Care Act, the current reality of this state's painfully small market of
