Cannabis News

Cannabis & Tech Today: Building a Financial Plan for Your Cannabis Business? What You Need to Know

All good business plans require a financial projection. Creating a financial projection is both an art and science. A financial projection will include projected sales, budgeted expenses, a balance sheet, cash flow, and sources and uses of funds. Also, a financial projection will help determine how much funding will be needed and the projected return […]

Cannabis Inventory and IFRS Biological Assets – Inventory Records

As cannabis companies continue to move to the public markets in Canada, high quality inventory records become much more important. Not only is there greater disclosure and scrutiny of financial information, but International Accounting Standard 41: Agriculture (IAS 41) requires additional computations on biological assets (plants and all inventory derived from those plants) to bring […]

The DeadHead Cannabis Show: “Recap Denver Phish weekend | cities opting out of adult-use” (0016)

The DeadHead Cannabis Show: “Phish, Denver prairie dog plague, Missouri license deadline” (0014)

Forms 1099: The Who, What, Where and When … Plus an Interesting Twist for Cannabis Businesses

Form 1099 is an important tax document that all businesses must file when applicable. There are several variations of forms 1099 and one should be filed when a business pays over $600 for a service. Who Gets a Form 1099? It starts by obtaining a signed form W-9 whenever a new vendor is set-up in […]

Collecting Cash in the Cannabis Industry? Here’s What You Need to Know

I was recently speaking with a someone who entered into a Letter of Intent to sell their cultivation and processing license for tens of millions of dollars. The buyer’s due diligence team determined that the company had not been filing Form 8300. In total, the seller should have filed over 250 Forms 8300. The seller […]