About the Event:
The Cannabusiness Key is a free, monthly, web-based speaker series featuring some of the foremost thought leaders in both the marijuana and hemp industries. Started in 2016, the Cannabusiness Key has brought together dozens of interesting speakers exploring a wide range of topics that are relevant and timely for cannabis operators, owners, and investors alike.
About the Speaker:
Eric Steenstra is a hemp industry pioneer, co-founding hemp clothing and lifestyle brand Ecolution with Steve DeAngelo in 1992. Eric was a founding member of the Hemp Industries Association (HIA) and served as Executive Director from 2008 to 2016. Eric now serves as the president of Vote Hemp, the political advocacy organization that he co-founded in 2000 and Vice President of the California Hemp Council. He is a frequent speaker at industry conferences and a trusted source to the media, including CBS, New York Times, Forbes, CNN, Rolling Stone, Reuters and the Washington Post.
Vote Hemp lead the effort to pass hemp farming legislation nationwide. In 2005, Steenstra worked with Congressman Ron Paul (R-TX) to draft the first modern U.S. hemp legislation introduced in Congress (H.R. 3037). In 2012 he worked with Senator Ron Wyden (D-OR) to get companion hemp legislation introduced in the U.S. Senate (S. 3501). Steenstra worked with Congressman Polis (D-CO) and Senate Majority Leader McConnell (R-KY) to have hemp legislation included in the 2014 Farm Bill. The 2014 Farm Bill authorized the first legal hemp farming in over 50 years and resulted in 78,176 acres of hemp being planted across 24 states in 2018. Vote Hemp also played an integral role in the passage of the 2018 Farm Bill including fully removing hemp from the Controlled Substances Act.
Presented By
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The CannaBusiness Key is hosted by Jason Klein a business attorney with a long track record of representing cannabis businesses, both marijuana and hemp, in tightly regulated markets. As one of the first lawyers on the East Coast to build a practice dedicated to the cannabis industry, Mr. Klein has a long track record of successfully navigating his clients through challenging regulatory and business operating environments amid uncertainty in new marketplaces. He has represented all types of cannabis business clients, from small and large, including direct and ancillary marijuana companies, hemp growers and supply chain operators, investors, registered providers, and many others, in a variety of states primarily east of the Mississippi River.
High Yield Insights, a leading consumer market research agency focused on cannabis consumer insights, has partnered with InnovateMR to survey 4,000 Americans on their attitudes and behaviors surrounding cannabis and CBD. Previously seen as a fringe product category, consumer brands large and small are exploring how CBD can set the path for innovation and expand existing product offerings to capitalize on this quickly growing market. Key presentation takeaways include:
- Define and measure CBD users and prospective users – identify the key drivers for adoption.
- Identify mass market opportunities for CPG firms to integrate CBD into products and innovate against this category.
- Discuss various CBD consumer personas defined by custom analytics.
- Understand the unique dimensions of the fragmented cannabis market, including insights on CBD usage and attitudes across states with adult use, medical, and limited cannabis programs.
- Identify the impact of COVID-19 on the CBD consumer and provide recommendations on how the pandemic-response can help acquire new customers focused on health and wellness.
- Shed light on consumer preferences for specific categories.
Join insights experts Lisa Wilding-Brown (CRO, InnovateMR), Mike Luce (President and Co-Founder, High Yield Insights), and High Yield Insights Senior Consultants Alexandra Curley, and Maggie Cowee for this special presentation!
Multi-state operators (MSOs) are the darlings of the cannabis industry, but not all MSOs have performed the same. Some have beat all expectations, while others lost their way and are scrambling to survive. In this webinar, cannabis entrepreneur and Cresco co-founder Joe Caltabiano will take a deeper look at what separates the winners from the losers and how that knowledge may help investors and MSOs as they scale up. Big opportunities are on the horizon with eventual federal legalization and new investors coming on board, but success boils down to the work MSOs are doing now to build the right business models that can scale, adapt and thrive even when things don’t go according to plan.
This webinar will be presented in video format and will feature broader engagement opportunities for attendees to interact with the Mr. Caltabiano and Mr. Klein.
Meet the Speaker
Joe Caltabiano is a respected and important voice in today’s emergent cannabis industry and regularly provides guidance to startups and established companies alike. Uncovering opportunities even during a bear market, Caltabiano draws from his extensive financial expertise in retail, real estate, operations and the regulated cannabis industry.
As co-founder of Cresco Labs, Caltabiano expanded the company from a small start-up with big ideas to one of the most influential and profitable Multi-state Operators in the U.S. Cresco Labs is now a public company operating in eleven states with more than 1,800 employees. During his tenure there, Caltabiano helped the company expand its footprint into strategic U.S. markets and sourced multiple M&A transactions. He guided Cresco through numerous rounds of multimillion-dollar capital raises, including the company’s initial financial support that helped it launch. In addition to running all the revenue-generating activities at the company, Caltabiano oversaw all construction development and real estate matters Caltabiano launched the Sunnyside retail brand and applied its wellness theme to Cresco’s existing dispensaries and their consolidated product offerings. He also led brand building at Cresco Labs, launching the operator’s house of industry-leading brands including Cresco, Remedi, Reserve and Mindy’s edibles.
What it Takes to Win Licenses, Cannabis Licensing in Newly Regulated States with Jason Klein and Avis Bulbulyan
Licensing has come a long way since a few intrepid states began issuing permits to grow, process and dispense cannabis. In the early days, competition for these valued licenses was sparse, the applications were simple, and the submissions were unsophisticated. Today In 2020, the pathway to winning a coveted medical or recreational license through the application process is far more complicated and challenging. Understanding the key differences between the types of licenses, markets, and processes is the first key to properly aligning your goals and resources with the right opportunity. Please join Avis Bulbulyan, CEO of SIVA Enterprises, for a discussion of how licenses can fit within your business model, the primary mistakes that most failed applicants make, and the foundational work that can set your application apart!
About Avis Bulbulyan
Avis Bulbulyan is the Chief Executive Officer of SIVA Enterprises, a cannabis business development and solutions firm that provides full-service consulting, state license application support, venture opportunities, and licensing to entrepreneurs across the United States. Avis is in his 3rd year serving as a member of the Cannabis Advisory Committee of the California Bureau of Cannabis Control, which advises the BCC and two other California agencies on the development of cannabis regulations in the state. He previously served as the President of the Los Angeles Cannabis Task Force and the Education Chair for Cannabis LAB (Legal, Account & Business). As one of the industry’s leading cannabis business authorities, Avis is a highly sought-after speaker and a valued expert resource for many national news sources and publications. Avis oversees corporate direction, business development and strategy at SIVA, facilitating company activity in consulting, alliances and channels, marketing, investments and operations.
How to Identify Smart Money for your Cannabis Business with Jason Klein and Steve Ham
Money might be fungible, but smart money is most definitely not. Learn the critical differences between these two as we are joined by Steve Ham, Partner at Altmore Capital, an experienced large-scale cannabis sector investor.
This webinar will touch on topics such as the general lack of availability of traditional sources of capital, the ongoing capital crunch and some recent market benchmarks, challenges and limitations of self-funding, what to look for in a financial partner, how to make yourself an attractive lending target, and effective use of proceeds and leveraging.
In line with the new format, this webinar will feature an on-camera, incisive conversation with your host, Jason Klein, and offer an opportunity to have your questions answered by one of the most dynamic and accomplished private equity investor in the cannabis capital space.
About Steve Ham

Keeping Your Cannabis Business Safe: A Special Q&A Session with Cybersecurity Expert Michelle Drolet
The threats are real and increasing daily. Learn how you can protect yourself and your cannabis company from unauthorized access to confidential files and proprietary data. Join Towerwall’s CEO Michelle Drolet on July 10th at 12 Noon EST to learn the latest in securing your company’s critical data. The stakes of a breach are getting higher and you cannot afford to wait any longer. Don’t miss this unique opportunity to engage with our resident information security expert who will answer your questions and address the challenges you face every day. Michelle will cover the topics below but the platform is yours! 1. What I know about COVID-19 Scams 2. How to secure your network for a remote workforce 3. Planning for a crisis: what are the basic steps for building an incident response & disaster recovery plan? 4. Implementing a repeatable and actionable information security plan with people, process and technology to maintain compliance and adherence to regulations. Join Offit Kurman’s Cannabis Practice lead and Cannabusiness Key host Jason Klein and Michelle for an interactive session that will help you protect your business from cyber threats. Remember, data security compliance is a necessity to conduct your Cannabis business.
Meet the Speaker:
Michelle Drolet, is the founder of Towerwall, a woman-owned cybersecurity and cannabis compliance services provider in Framingham, Mass., with clients such as CannaCare, Smith & Wesson, Covenant Healthcare and many mid-size organizations. Michelle is also regular contributor to Cannabis Business Executive.
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Important Announcement:
Offit Kurman, Cannabis Business Executive & CohnReznick has been rescheduled to Friday, May, 1, 2020 from 12:00-1:00 PM. Please register to attend and thank you for your patience.
KEY FINANCE AND TAX ISSUES CANNABIS COMPANIES SHOULD FOCUS ON AS THEY GROW
The world has changed dramatically. The cannabis industry is not immune to the effects of the covid-19 pandemic. However, there is good news. Cannabis dispensaries have been deemed essential business and allowed to continue operations across the country. Operators have proven themselves to be very innovative and regulators have reacted quickly to this new normal. At some point the pandemic will pass and companies that focus on business fundamentals will be best positioned to emerge successfully. As the industry and markets mature, sophisticated operators are pivoting to focus on efficiency, organization and professionalization of their management team.
CohnReznick’s Michael Harlow and Jason Klein of Offit Kurman will tackle some of the tax and finance issues that arise for these companies, including:
- Fixed Asset Accounting: Acquisition and build-out of cultivation facilities represents the largest single expenditure for most operators. Unlike other manufacturing companies, cannabis companies do not qualify for bonus depreciation, which significantly increases taxable income. How can operators maximize depreciation of production assets and qualified cost of goods sold deduction with proper accounting and record keeping?
- Convertible Debt Instruments: More investment funds are coming on-line offering debt to the industry, often with equity conversion options. We will discuss the finance and tax impact of these financing deals.
- Brand/Royalty Agreements: Cannabis companies are turning to branding and royalty agreements as a way to expand into new markets without having to secure new state licenses. Non-plant touching companies are also creating cannabis brands without securing state licenses dramatically reducing their regulatory burden and cost of capital related to building production facilities and holding inventory. Hear about ways to structure these deals to maximize success.
- CARES ACT Update: Federal and State governments have responded with a variety programs aimed at minimizing the financial impact of the pandemic. Cannabis companies have been barred from participating in the Payroll Protection Program, despite being deemed essential by state governments. However, other programs do offer limited relief.
MEET THE SPEAKER
Bio
Michael Harlow is a partner and the Co-Practice Director for the DC Metro Tax Practice for CohnReznick. As such, Michael enjoys working with a variety of clients across the Washington region. He has more than 15 years of experience in public accounting serving clients in attestation, accounting, and tax advisory roles Michael has extensive experience across multiple real estate-related industries including homebuilding, land development, residential management, commercial management, and land engineering.
For the past three years Michael has focused his efforts on growing the tax services of the CohnReznick Cannabis Practice. The CohnReznickCannabis Practice services clients across the country in legal adult use and medical markets. He is a Certified Public Accountant in the state of Maryland.
After the most successful year for advancing cannabis issues on Capitol Hill, questions remain as to whether the momentum will carry over into the new year or if progress at the federal level will take a step backward in 2020. Join Michael Correia, Director of Government Relations for The National Cannabis Industry Association, as he reviews what you can expect from Congress and the federal government this year regarding the issues critical to marijuana and hemp operators and the investment community in the U.S. and abroad. Tune in to hear from the person who focuses on raising awareness and building support for the cannabis industry’s issues with lawmakers every day.
Meet The Speaker:
Michael Correia, National Cannabis Industry Association. His focus is raising awareness and building support for the cannabis industry’s issues on Capitol Hill. In addition, Michael works with other national organizations to increase the cannabis industry profile nationally. Prior to joining NCIA, Michael spent many years working on Capitol Hill, including working for Rep. George Radanovich (R-CA), who retired in 2010, and the House Committee on Resources, serving three different Chairmen. Previously, he was director of federal affairs for the American Legislative Exchange Council (ALEC) and senior project manager for the Committee for Responsible Federal Budget. In both positions, he advocated for policies in Congress. A campaign veteran, he has worked and volunteered on numerous political campaigns at the local, state, and federal levels over the past two decades. Michael is a graduate of the University of California, San Diego. A native of San Diego, he resides in Washington, D.C.
The passage of the 2018 Farm Bill and legalization of hemp has opened up many exciting business opportunities for its producers. In this webinar, we’ll discuss how producers can protect their competitive position in the market through the strategic procurement of intellectual property assets. We will explain the three major categories of IP protections for newly “invented” plants – Plant Variety Protection Certificates, Plant Patents and Utility Patents – and explain some of the key considerations that go into deciding the right path for your business.
Meet the Speaker
Scott Lloyd counsels emerging and midsize businesses on a wide array of legal issues in the areas of corporate governance, intellectual property, commercial transactions and dispute resolution, regulatory compliance and international trade. Mr. Lloyd is also a registered patent attorney who combines his scientific and professional experience to focus his practice on serving the needs of clients requiring an attorney with both legal and scientific expertise to address intellectual property and regulatory support needs. He counsels those companies on intellectual property strategy, assists them in gaining regulatory approvals for products and provides advice on compliance with international import and export regulations. Mr. Lloyd works primarily with small and midsize business owners seeking to implement growth strategies and succession plans.