Legal Affairs
iAnthus Capital Holdings Reports Q1 2025 Financial Results
LOS ANGELES- iAnthus Capital Holdings, Inc. a multi-state operator in the U.S. regulated cannabis industry, released its financial results for the first quarter ended March 31, 2025. Financial Highlights Revenue: $38.1 million, a decrease from ...
Silo Pharma Initiates Safety Study for PTSD Drug SPC-15
LOS ANGELES- Silo Pharma Inc. a developmental-stage biopharmaceutical company, has commenced a 7-day safety and toxicology study for its lead candidate, SPC-15, an intranasal treatment targeting post-traumatic stress disorder (PTSD). The study is being conducted ...
Glass House Brands to Manage The Leaf El Paseo Dispensary
LOS ANGELES- Glass House Brands Inc. and LEEF Brands Inc. have entered into a Management Services Agreement (MSA), under which Glass House will oversee operations of The Leaf El Paseo dispensary in Palm Desert, California. ...
Montana Legislature Approves Bill to Tighten Cannabis Product Regulations
LOS ANGELES— The Montana Legislature has passed House Bill 636, introducing new restrictions on cannabis products. The Senate approved the bill with a 37–12 vote, following the House's 84–15 approval last month. House Bill ...
Kansas Governor Renews Call for Medical Cannabis Legalization
LOS ANGELES- Governor Laura Kelly has reiterated her support for legalizing medical cannabis in Kansas, urging lawmakers to advance legislation that would establish a regulated program for patients with qualifying medical conditions. Despite previous efforts, ...
Consolidation, Capital, and the Climb: Tracking U.S. Cannabis M&A and Investment Trends
NEW YORK –The U.S. cannabis industry has experienced major shifts in merger and acquisition (M&A) activity over the past year, reflecting broader trends of consolidation and strategic realignment. According to Viridian Capital Advisors, the Cultivation ...
When Hype Fails: Are Cannabis Giants Like Canopy and Tilray Just Ponzi Schemes in Disguise?
TORONTO-There’s an old saying in finance: “If you don’t understand where the returns are coming from, you might be the return.” While actual Ponzi schemes are illegal frauds—where old investors are paid with new investors’ ...
iAnthus Capital Holdings Reports Q1 2025 Financial Results
LOS ANGELES- iAnthus Capital Holdings, Inc. a multi-state operator in the U.S. regulated cannabis industry, released its financial results for the first quarter ended March 31, 2025. Financial Highlights Revenue: $38.1 million, a decrease from ...
Silo Pharma Initiates Safety Study for PTSD Drug SPC-15
LOS ANGELES- Silo Pharma Inc. a developmental-stage biopharmaceutical company, has commenced a 7-day safety and toxicology study for its lead candidate, SPC-15, an intranasal treatment targeting post-traumatic stress disorder (PTSD). The study is being conducted ...
Glass House Brands to Manage The Leaf El Paseo Dispensary
LOS ANGELES- Glass House Brands Inc. and LEEF Brands Inc. have entered into a Management Services Agreement (MSA), under which Glass House will oversee operations of The Leaf El Paseo dispensary in Palm Desert, California. ...
Canopy Growth Reports Fiscal Q3 Earnings Amidst Strategic Shifts and Financial Hurdles
LOS ANGELES- Canopy Growth Corporation, reported a 7% decline in net revenue, amounting to $78.5 million for the fiscal third quarter ending December 31, 2023. The Smiths Falls, Ontario-based company revealed these figures in its ...
Business Expenses – What is NOT Deductible?
While it seems like a straightforward question, there can sometimes be confusion about what expenses can be deducted from your business for tax purposes and what expenses cannot be. Deductions are critical in helping to ...
Unexpected 280E Dangers in Farm Service Management Arrangements- Part I
By Rachel Wright, Simon Menkes, & Abraham Finberg- CPAs licensed in California of AB FinWright LLP & 420CPA, and Andrew Gradman, Esq of Andrew Gradman Tax This is Part I of II of our series ...
Cybin Inc. Awarded Patents in Japan, Strengthening Global Psychedelic Research Efforts
NEW YORK— Cybin Inc. a biopharmaceutical industry dedicated to transforming mental healthcare with innovative psychedelic-based therapies, has achieved a significant milestone with the recent grant of two patents by the Japan Patent Office. These patents, ...
Hawaii Lawmakers Deliberate on Trio of Cannabis Legalization Proposals
LOS ANGELES— In a pivotal legislative session, Hawaii's lawmakers are presented with three distinct proposals aimed at reforming the state's cannabis laws. These include two notable bills pushing for the legalization of adult-use cannabis, alongside ...
Kentucky State Representative Proposes Bill for Adult-Use Cannabis Legalization
LOS ANGELES- In a bold move within the traditionally conservative state of Kentucky, State Representative Rachel Roberts (D) has introduced legislation aimed at legalizing and regulating adult-use cannabis. The proposed "House Bill 420," aptly named ...
Short-Term Capital Gains vs. Long-Term Capital Gains – What’s the Difference?
Have you ever wondered why gains are separated between long-term and short-term when you receive your 1099 at tax time? There is a very good reason for that, and one you might want to consider ...
What the Heck Is a Wash Sale?
Investing has become much more accessible since Robinhood became a thing. But do you know what a wash sale is and how it will impact your tax return? You have a stock, it dips, and ...
Pennsylvania Governor Shapiro Advocates for Cannabis Legalization
LOS ANGELES- In a significant push towards cannabis reform, Pennsylvania Governor Josh Shapiro, a Democrat, has called upon lawmakers to fully legalize recreational cannabis, emphasizing the economic and social justice benefits such a move could ...
Germany’s Government Coalition Finalizes Cannabis Legalization Policy
BERLIN- Germany is poised to make a significant shift in its drug policy landscape as the government coalition, known as the Traffic Light Coalition, has finalized its cannabis legalization policy. This development, reported by Forbes, ...
Clearmind Medicine Secures Patent in China
LOS ANGELES- In a significant advancement for the field of psychedelic-derived therapeutics, Clearmind Medicine, a biotechnology firm with operations in Tel Aviv, Israel, and Vancouver, Canada, has been granted a patent in China for a ...
Cannabis and Exercise: Challenging Stereotypes of ”Lazy Stoner”
DENVER- In a recent study conducted at the University of Colorado at Boulder, researchers delved into the relationship between cannabis consumption and exercise habits among older Americans. Contrary to prevailing stereotypes, the findings challenged the ...
MindBio Therapeutics Advances in Psychedelic Research
LOS ANGELES- MindBio Therapeutics Corp. is on the brink of completing a pivotal Phase 2a clinical trial, marking a significant milestone in the study of psychedelic substances for therapeutic purposes. The trial focuses on the ...
Hawaii Introduces Bill to Regulate Psilocybin Therapy Amid Growing Interest in Psychedelic Medicine
LOS ANGELES- In an innovative step towards mental health treatment, Hawaii lawmakers have introduced legislation aimed at creating a regulatory framework for the therapeutic use of psilocybin. The proposed Senate Bill 3019, introduced by Sen. ...
What the Heck Is a Wash Sale?
LOS ANGELES- Investing has become much more accessible since Robinhood became a thing. But do you know what a wash sale is and how it will impact your tax return? You have a stock, it ...
California R&D Tax Credit for the Cannabis Industry
LOS ANGELES- The cannabis industry in the U.S. is growing rapidly. As of February 2022, 37 states allow the medical use of cannabis products, and 18 have enacted measures to regulate cannabis for non-medical use. ...
Florida Legislators Propose Potency Caps on Cannabis Ahead of Legalization Vote
NEW YORK - In a preemptive move by Florida's lawmakers, a bill proposing potency caps on adult-use cannabis products has made progress within the state's legislative framework. The measure, known as HB1269, aims to establish ...
Arizona Embarks on Psychedelic Therapy Frontier with Psilocybin Service Center Legislation
LOS ANGELES- In a significant step towards the integration of psychedelic therapy into mainstream healthcare, Arizona is positioning itself at the forefront of a growing movement. Bipartisan lawmakers have introduced groundbreaking legislation aimed at legalizing ...
New York Governor Calls State’s Cannabis Roll-Out a “Disaster”
NEW YORK- Governor Kathy Hochul of New York has openly criticized the state's approach to rolling out its adult-use cannabis market, describing the process as a "disaster." This candid admission comes amidst a series of ...
Silo Pharma Announces Strategic Focus on Psychedelic and Traditional Therapeutics for 2024
LOS ANGELES- Silo Pharma, Inc., a developmental stage biopharmaceutical company, has outlined a strategic focus for its clinical pipeline in 2024, emphasizing the advancement of novel formulations and drug delivery systems for both traditional therapeutics ...
Planet 13 Expands into Florida with Strategic Acquisition of VidaCann
LOS ANGELES- In a bold move aimed at broadening its footprint in the burgeoning U.S. cannabis market, Planet 13 has announced its acquisition of VidaCann, a significant player in the Florida cannabis sector. This all-stock ...
California Cannabis Trade Samples Exempt from Cannabis Taxes
LOS ANGELES- The enactment of Assembly Bill 141 on July 12, 2021 radically altered the taxability of cannabis trade samples. Effective September 29, 2021, excise tax no longer applied to cannabis flower or cannabis products ...
California’s Cannabis Social Equity Benefits
Vendor Compensation, Equity Fee Waivers, and More Massive social equity efforts are being made on the East Coast on behalf of cannabis businesses (see our articles in Bloomberg and elsewhere about New York and the ...
Michigan’s Cannabis Market Defies Moratoriums with Record $3 Billion Sales
LOS ANGELES- In an impressive display of market resilience, Michigan's cannabis industry shattered records by achieving over $3 billion in sales last year, despite facing significant regulatory hurdles and a saturated market. This milestone underscores ...
Texas Attorney General Sues Cities Over Cannabis Decriminalization Initiatives
LOS ANGELES- Texas Attorney General Ken Paxton has initiated legal action against five cities within the state, challenging their adoption of voter-approved cannabis decriminalization policies. According to reports from The Hill, the lawsuit targets city ...
