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  • MJ Freeway Business Solutions for the Cannabis Industry Launches New Website

    DENVER, Dec. 30, 2014 /PRNewswire/ — MJ Freeway®, the industry-leading cannabis business software platform is pleased to announce the launch of a new e-commerce website detailing the company’s products, services, and solutions for marijuana retailers, infused product manufacturers, cultivators, and industry professionals.

    The website offers clear, organized, and detailed information regarding each of MJ Freeway’s products: GrowTracker®, GramTracker®, and MixTracker™. Visitors can stream overview videos, recorded demonstrations, and interact with the cannabis regulations guide, which provides geographic specifics for marijuana law.

    The site offers a legible, modern design, with easy-to-navigate functionality, and rich content. The new e-commerce platform allows customers to discover product features and complete the checkout process efficiently.

    According to Heather Smyth, Digital Marketing Manager of MJ Freeway, the new website is closely aligned with the company’s strategic vision for providing a full seed-to-sale solution for cannabis businesses.

    “Our goal in launching this new website is to provide an online resource for companies and individuals to learn more about our product solutions, as well as gain valuable information about the industry,” Smyth said. “We also wanted to clearly depict how our software packages and suite of professional services help streamline workflow and increase business efficiency.”

    As part of the new website launch, MJ Freeway is offering one free day of an in-person Training Lab with the purchase of a Pro or Elite package, a $300 value. Training Labs provide users with high-level instruction of the MJ Freeway software and give valuable tools for effective management. This offer is valid through December 31.

    “We’re very excited about the launch of the new website, and hope that it will provide visitors with an informative and useful way to learn more about MJ Freeway and the cannabis industry.”

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  • CannLabs Announces Third Quarter 2014 Results Revenues up 175 Percent

    CannLabs Announces Third Quarter 2014 Results.

    Revenues up 175 Percent Over Last Quarter, Operations Expand to Connecticut and Nevada

    Denver, Colorado (PRWEB) November 14, 2014

    CannLabs, Inc. (OTCQB: CANL,) the leading provider of proprietary, cloud-based analytics, and scientific testing methodologies relating to cannabis, today announced financial results for the third quarter ended September 30, 2014, and provided a business update.

    Third Quarter 2014 Highlights

    •     CannLabs – Nevada, Inc. granted license for an 8,000-sq.-ft. facility in Las Vegas, Nevada.
    •     CannLabs – Connecticut, Inc. opened a 4,000-sq.-ft. facility in Hartford, Connecticut. Secures contracts with two of the four licensed growers in Connecticut.
    •     Expanded testing capabilities at the Denver, Colorado, legacy lab to offer heavy metal, microbial contaminant, pesticides, and residual solvents tests. The CannLabs, Inc. licensed laboratory in Denver is on track to reach full capacity in four-six months.
    •     CANL was added to MJIC Marijuana Index and the THCbiz stock directory.

    “During this quarter we saw the initial affect of industry wide-market and mandated testing growth impact our business,” said Mark Mirken, Chief Executive Officer of CannLabs. “With existing and anticipated legislative mandates aimed at cannabis health and safety, our licensed technology has made our laboratory partners the premier checkpoint in the seed to sale supply chain. Clients are experiencing steady growth, and we are committed to keeping our competency, capacity, and state-of-the art solutions ahead of the rapidly growing national market.”

    CannLabs recently entered two new markets, Connecticut and Nevada. “In Connecticut, we have signed multi-year contracts with two of the four licensed commercial growers, to have their products tested using CannLabs’ licensed technology,” Mirken continued. “The facility in Nevada, which is expected to secure 30 percent market share upon market maturity, will be operational in the third quarter of 2015 to leverage an estimated 200 metric tons of cannabis production for the medical marijuana market in this state.”

    Both states adhere to the American Herbal Pharmacopoeia® (AHP) guidelines. These guidelines include stringent limits for specified bacteria, fungi, heavy metals, and pesticides and require every lot of cannabis be tested for potency and safety. The Company will look for accretive acquisitions to enhance and expand on its multiple revenue channels. Consumers will benefit from the highest quality and safety and CannLabs, will continue to enjoy rising demand for testing and consulting services.

    Financial Results

    For the third quarter ending September 30, the Company reported:

    •     $474,000 in revenue, an increase over the previous quarter of $204,000 due to increased testing volumes, growing client demand, mandated testing and the anticipated expansion in mandated testing requirement.
    •     $1,283,000 in operating expenses, which consisted of $644,748 in administrative payroll, $426,000 in G&A and $213,000 in sales and marketing expenses. Of these expenses $440,000 related to non-cash compensation.
    •     Net loss (GAAP) was $(1,126,096).
    •     Adjusted EBITDA (non-GAAP) loss of $(130,000).

    For the nine months ended September 30, 2014, the Company reported:

    •     $1,932,000 in operating expenses, which consisted of $818,000 in administrative payroll, $742,000 in G&A and $373,000 in sales and marketing expenses. Of these expenses $446,000 related to non-cash compensation.
    •     Net loss (GAAP) was $(1,596,477).
    •     Adjusted EBITDA (non-GAAP) loss of $(213,000).

    The Company had $64,000 in cash and cash equivalents on its balance sheet as of September 30, 2014.2015 Outlook

    In 2015, capital expenditures are expected to increase. The capital investments will primarily be focused on expanding the capacity of the labs the Company licenses, to meet the increase in demand for testing in multiple jurisdictions, as well as the Company’s other revenue segments.

    Currently, holding 50 percent of the Colorado market, the Company expects the Colorado facility to grow their market share significantly in 2015. Revenues for the Colorado facility are projected to be $3-5 million annual run rate by the end of next year. Management believes the payback period for future labs could decrease when factoring in higher margins from the addition of product formulation and development and consulting services. Normalized operating margins of 40 percent or higher are expected from fully mature licensed laboratories.

    In addition, CannLabs will be able to solidify its leadership position due to the following industry-wide growth drivers:

    •     Compliance testing will be mandated by new states
    •     Increased testing volumes from existing clients responding to growing consumer demand
    •     New market entrants as more growers are granted state-issued licenses
    •     Education that will influence consumers to seek out tested products at a higher quality level that they know and trust


    CannLabs, Inc., is a respected authority and advisor to commercial, governmental and educational entities focused on the Cannabis industry. The company leverages its propriety scientific, testing processes, cloud-based business intelligence and data/analytics as well as consulting services to garner revenues from legalized Cannabis states and their constituents.

    Through Carbon Bond Holdings Inc. and the state certified labs it has relationships with, CannLabs delivers best practices around products, services and business intelligence focused on the Cannabis industry.

    CannLabs customers include states that currently have legalized medical or recreational Cannabis along with their associated growers, dispensaries, manufacturers of edibles, and residential consumers seeking information on cannabis.
    For more information visit http://www.cannlabs.com.

    Safe Harbor Statement

    All statements herein other than statements of historical facts are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments in our industry, general economic conditions, as well as other factors set forth in our filings with the SEC.

    William Livermore
    Public Relations

    Investor Relations
    Matthew Selinger
    Senior Vice President – MZ North America

    For Full Balance Sheet and Income Statement: please click here : CannLabs Balance Sheet and Income Statement

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  • Tax Deduction Loophole Agricultural Exemption for Marijuana

    It appears that Seattle, Washington or simply Washington state have a lot of tax loopholes still available to take advantage of.  One of those such loopholes is a legal Tax Deduction Loophole for an Agricultural Exemption for growing Marijuana.  So starting growing 🙂

    See the full story and more loopholes here >>

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  • Local Governments Can Ban Marijuana Businesses

    Chelan County judge agrees with Attorney General’s opinion, holds that local governments can ban marijuana businesses

    Attorney General’s Office presented arguments to defend I-502, uphold will of the voters

    WENATCHEE — A second superior court judge today agreed with an opinion issued by the Attorney General’s Office last year, concluding that nothing in Initiative 502 overrides local governments’ authority to regulate or ban marijuana businesses.

    The ruling came from Chelan County Superior Court Judge T.W. Small in the case of SMP Retail, LLC v. City of Wenatchee. The plaintiffs in the case sought to open a marijuana business in Wenatchee despite the city’s ban on such businesses. A formal opinion released by the AGO in January 2014 concluded that, as drafted, I-502 does not prevent cities and counties from banning marijuana businesses.

    Judge Small is now the second judge to agree with the AGO opinion, following Pierce County Superior Court Judge Ronald Culpepper’s ruling in August in a similar case involving the City of Fife. If courts continue to agree with the AGO opinion that I-502 does not require local governments to allow marijuana businesses, they will not need to decide in these cases whether federal law preempts I-502. This allows I-502 to continue to be implemented.

    “My office is working aggressively to uphold the will of the voters,” said Attorney General Bob Ferguson. “Today’s ruling affirms the opinion of my office earlier this year and allows Initiative 502 to continue to be implemented in Washington state. As I have said from the beginning, the drafters of Initiative 502 could have required local jurisdictions to allow the sale of recreational marijuana. It could have been done in a single sentence, but it was not. Now it is up to the Legislature to decide whether to require local governments to allow for the sale of marijuana.”

    The AGO intervened in this case to uphold the will of the voters, defend I-502 and ensure its proper interpretation. The AGO does not represent the plaintiffs or the City of Wenatchee. Rather, the AGO is an additional party to the lawsuit. Deputy Solicitor General Jeff Even gave oral arguments on behalf of the Attorney General’s Office.

    As noted above, Judge Small is the second judge to agree with the Attorney General’s Office on this issue.  The plaintiffs in the first case, MMH, LLC v. Fife, have appealed the decision in their case to the Washington Supreme Court.  The court will likely decide sometime early next year whether to accept review of that case.

    – 30 –

    The Office of the Attorney General is the chief legal office for the state of Washington with attorneys and staff in 27 divisions across the state providing legal services to roughly 200 state agencies, boards and commissions. Attorney General Bob Ferguson is working hard to protect consumers and seniors against fraud, keep our communities safe, protect our environment and stand up for our veterans. Visit www.atg.wa.gov to learn more.

    Alison Dempsey-Hall, Acting Communications Director, (206) 442-4482, alisond@atg.wa.gov

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  • 20 states and Washington, DC have passed laws allowing smoked marijuana

    Since 1996, 20 states and Washington, DC have passed laws allowing smoked marijuana to be used for a variety of medical conditions. It is important to recognize that these state marijuana laws do not change the fact that using marijuana continues to be an offense under Federal law.  Nor do these state laws change the criteria or process for FDA approval of safe and effective medications.

    Many of these state medical marijuana laws originated in order to create a legal defense to state criminal possession laws or to remove state criminal penalties for purported medical use of marijuana. Since then, many have evolved into state authorization for state-based production and distribution of marijuana for purported medical purposes. These state laws vary greatly in their criteria and implementation, and many states are experiencing vigorous internal debates about the safety, efficacy, and legality of their marijuana laws. Many local governments are even creating zoning and enforcement ordinances that prevent marijuana dispensaries from operating in their communities.

    States with medical marijuana laws often have some form of patient registry, which may provide some protection against state arrest for possession up to a certain amount of marijuana for personal medical use. Medical marijuana growers or dispensaries are authorized in some of these states and may be limited to a certain number of plants or products per medical user. Regulation of marijuana for purported medical use may also exist at the county and city level, in addition to state laws.


    More Here >>