Week of December 3 - 9, 2022
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Hashing Out the Truth
CRB Monitor’s database growth by the numbers.
Tier 1 Marijuana-Related Business Counts
Weekly Summary (December 3 - 9, 2022): 64,041 1A MRBs + 3,589 1B MRBs = 67,630 total
1A MRBs
Tier 1A Defined: Businesses in this tier literally touch the cannabis plant at some point along the supply chain from "seed-to-sale" and are generally licensed by a government agency or regulator. Effectively all of their actual or expected revenue is derived from the cultivation, production, testing or sale of cannabis.
1B MRBs
Tier 1B Defined: CRB Monitor tiers businesses that have a financial or controlling interest in a Tier 1A CRB as "Tier 1B." CRB Monitor generally considers 1B businesses as seemingly unrelated businesses highlighted as red flags by FinCEN in its marijuana banking guidance and are similar in nature to individual beneficial owners.
Marijuana Business Licenses
Note: Inactive licenses, unlicensed, and unknown licenses have been excluded.
A Note on Drop in License Count: Last week there was a dip in the license counts for "Active" and "Pre-License" (Uniform License Status updated to "Inactive" and/or "Approved/Pending")
- Active –
- Updated ~ 1,500 licenses as "Inactive" (Reported Status = "Inactive") (Oklahoma)
- Updated ~ 350 licenses as "Approved/Pending" (Reported Status = "Deemed to Continue") (Ontario) - Pre-License –
- Updated ~ 20 licenses as "Inactive" (Reported Status = "Failed Applicants") (Maine & New Mexico) - Approved/Pending –
- Updated ~ 350 licenses as "Approved/Pending" (Reported Status = "Deemed to Continue") (Ontario)
(The Reported License Statuses "Failed Applicant" and "Inactive" map to the Uniform License Status "Inactive", which decreased the net License count by more than the number of new Licenses during the week. Additionally, the Reported License Status "Deemed to Continue" maps to the Uniform License Status "Approved/Pending")
Beneficial Owners Count
Beneficial Owners Defined: For beneficial owners, each economic owner or controlling person is classified into one or more categories based on their relationship to the linked CRB including: (1) Owner/Investor, (2) Board Member, (3) Corporate Officer, (4) Executive, (5) Non-commercial Registered Agent or (6) Senior Manager.
News of Note
A selection of relevant cannabis-related news.
Mergers & Acquisitions
Negative News
- Colo. Pot Biz Gets More Claims Tossed In Investor Fraud Suit
- California Judge Fines Illicit Cannabis Operators $128M
- Doyen Elements Geoff Thompson to Plead Guilty
- Minnesota Board of Pharmacy files suit against Moorhead-based manufacturers and retailers of edible cannabinoids
- Ohio Regulators Issue Medical Cannabis Product Recall
- NLRB: Curaleaf Violated Labor Law by Refusing to Bargain with Union
Legalization & Regulation
- Ohio House Committee Hears Adult-Use Cannabis Legalization Bill
- New Jersey CRC Approves Proposed Rules for Cannabis Consumption Lounges
International
- Senate urged to pass bill allowing risk-free purchase of medical cannabis
- Neuraxpharm expands into the Netherlands
- Proposal to ensure cannabis sativa-based medicines is approved in the Assembly
Licensing Related
- Industrial hemp applications now accepted
- Arkansas Supreme Court Blocks Regulators from Revoking Medical Cannabis Cultivation License
- Colorado medical marijuana now can be redesignated as adult use
Other
- DCC Wins Court Victory Against Illegal Cannabis Businesses
- D.C. Council Approves Bill To Eliminate Medical Marijuana License Caps, Promote Equity, Provide Tax Relief And More
- Weedmaps Lays Off 25% of Staff
- Judge Upholds Michigan Cannabis Regulatory Agency’s Decision to Suspend Cannabis Retail License
- MediPharm Labs Receives Award for CBD Brand of the Year
- Los Angeles’ marijuana social equity program latest to be challenged
- Cannabis company Item 9 Labs cutting staff by 20%
- Ontario cannabis store regulator under pressure over alleged ‘pay-to-play’ deals
- New Mexico to Offer Online Medical Cannabis Patient Cards
- Marijuana packaging rebrands can draw consumers, create cohesion, reflect values
- SC Labs Expands into Southern California
- Medical marijuana tax collections top $2.7 million in November, surpass $29 million for year
- New Mexico Adds Anxiety Disorder as Qualifying Condition for Medical Cannabis