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What is the 10% Rule for Michigan Cannabis Licenses? 

2019-11-14T10:56:44-05:00November 13th, 2019|

All Michigan cannabis licenses start with a prequalification application. Prequalification is the State of Michigan’s background check process for entities and individuals hoping to own and operate marijuana establishments. Prequalification involves a significant audit and review of the applicant entities financial and operational history, as well as a review of all significant stakeholders and their [...]

Annual Financial Statements Required by the MRA for FY 2019

2019-11-11T09:14:05-05:00November 11th, 2019|

The Michigan Marijuana Regulatory Agency (MRA) recently issued a bulletin to announce what's required in the annual financial statements for fiscal year 2019, pursuant to Section 701 of the Medical Marihuana Facilities Licensing Act (MMFLA). This much anticipated guidance outlines the financial reporting requirement for licensees.  Per the MRA bulletin, requirements for the annual financial [...]

Michigan Medical Marijuana Administrative Rule Changes

2019-11-06T09:15:43-05:00November 6th, 2019|

On Friday, Oct, 25th, 2019, the Marijuana Regulatory Agency (MRA) amended the Administrative Rules for Michigan’s Medical Marijuana Program (MMMP). Below are the most important amendments for program participants: Reduction in Patient Application Fee The patient application fee (for a two-year card) has been reduced from $60 to $40. Elimination of Caregiver Fee The $25 [...]

Federal Industrial Hemp Production Rules Released

2019-11-01T13:28:52-05:00November 1st, 2019|

Early last week, the White House Office of Management and Budget (OMB) approved the United States' Department of Agriculture’s (USDA) legalized industrial hemp production rules. On Oct. 29th, 2019, the USDA established the Domestic Hemp Production Program. What is included in federal hemp rules? The proposal includes provisions for the USDA to approve hemp production [...]

Adult-Use Marijuana Applications Are Now Being Accepted

2019-10-31T15:39:34-05:00October 31st, 2019|

Today on Nov. 1st, 2019, the Marijuana Regulatory Agency (MRA) began accepting adult-use applications for marijuana licensing under the Michigan Regulation and Taxation of Marihuana Act (MRTMA). This was passed by the voters of the state of Michigan in November 2018. Similar to the process for medical marijuana application approval, the MRA will be utilizing [...]

Marijuana Penny Stocks: Are They Worth Investing In?

2019-10-28T08:50:36-05:00October 28th, 2019|

Are you trying to break into the recreational marijuana industry, but also do not want to invest too much capital? Marijuana/cannabis penny stocks (or "pot stock") may be the answer. What are penny stocks? Pot penny stocks, also known as micro-market cap stocks, stocks under $5, etc, are stock-traded common shares of small public companies. [...]

Update on the Michigan Vaping Crisis

2019-10-25T14:26:09-05:00October 23rd, 2019|

Michigan was the first state to issue a ban of flavored vapes in response to reports of lung illness suspected to be caused by vaping. On Sept. 3rd, Gov. Gretchen Whitmer executively ordered all flavored nicotine-vape products to be removed from stores.   The ban went into effect in Michigan on Oct. 2nd. Since then, other states [...]

Employee Background Checks for Cannabis Business Licensees

2019-10-15T12:58:09-05:00October 15th, 2019|

On Oct. 9, 2019, the Marijuana Regulatory Agency (MRA) released a bulletin advising all licensees on the hiring process of prospective employees. Can a licensee hire an employee with a felony? All licenses, including adult-use establishment licensees, must conduct background checks on all prospective employees before hiring them according to section 405 of the Medical Marijuana Facilities [...]

Is It Too Late to Get Into the Legal Cannabis Industry?

2019-10-11T10:37:10-05:00October 11th, 2019|

The legal marijuana industry grew to $10.4 billion in 2018 in the United States and employs more than 250,000 people, according to research firm New Frontier Data. With the cannabis industry booming and changing constantly, it may seem overwhelming and deterring if you’re thinking of breaking into the industry. You might ask: is it too late to [...]

MRA Releases Adult-Use Marijuana License Applications

2019-10-03T15:43:17-05:00October 3rd, 2019|

Just today, the Marijuana Regulatory Agency (MRA) released detailed, step-by- step instructions for the adult-use marijuana license applications. These applications will start being accepted by the MRA on Nov. 1st.  We have outlined what you need to know as a prospective adult-use marijuana licensee below: What types of marijuana licenses are available? As a refresher, [...]

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