In tranches of up to $10 million, the federal government is doling out $900 billion of forgivable loans to borrowers other than “plant touching” marijuana-related businesses (MRBs). By Steve Schain In tranches of up to $10 million, the federal government is doling out $900 billion of forgivable loans to borrowers other than “plant touching” marijuana-related businesses […]
About Steven Schain
Why Jersey’s Adult Use Program Will Ignite East Coast Cannabis
With 44 million consumers banging on its door, and $950 million of revenue projected over the next three years, New Jersey’s adult use marijuana program is poised to define cannabis across the eastern seaboard. With 44 million consumers banging on its door, and $950 million of revenue projected over the next three years, New Jersey’s adult […]
Why Explosive Applications Create Bulletproof Marijuana Businesses
In 2019, legalized Marijuana’s domestic sales reached $11.7 billion, and grow, processing and dispensary licenses were valued at (and, reportedly, sold for) over $20 million dollars. Licenses are granted by the respective 33 states with Marijuana programs, most of which impose an arduous competitive application process and deny 91% of the submissions. Like any other contest, […]
Cannabis-Infused Products and How to Transport Them
Generating $11.6 billion of revenue in 2019, and legal in 34 states, marijuana is mainstream, profitable and intensely regulated. By Steve Schain Generating $11.6 billion of revenue in 2019, and legal in 34 states, marijuana is mainstream, profitable and intensely regulated. Because current federal illegality prevents transporting cannabis between states or across U.S. borders, regulation […]
Cannabis Industry’s “COVID-19 Disaster Recovery Playbook”
For legalized marijuana, the coronavirus (“COVID-19”) pandemic has been the worst of times and the best of times. Despite being deemed “ineligible” for much of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) benefits, nearly derailed by commercial-contract-voiding “force majeure” provisions, and denied federal bankruptcy protection, COVID-19 has resulted in extraordinary Marijuana Related […]
Cannabis Financial Hardship Solutions: Workouts, Receiverships, and Assignments for the Benefit of Creditors
With zilch in the till and creditors crashing through the door, what’s a respectable Cannabis business to do? Although federal bankruptcy protection is presently unavailable, Marijuana Related Businesses (“MRBs”) may obtain financial distress relief via “workouts” or state law receiverships or assignments for the benefit of creditors (“Creditors’ Assignment”). While not providing an “automatic stay”, and often […]
How COVID-19 Force Majeure Claims May Wreck or Save Your Business
Following its rapid spread, on March 11, 2020 the World Health Organization declared coronavirus (“COVID-19”) to be a pandemic thereby potentially voiding every commercial contract via “force majeure” provisions and the common law doctrine of frustration (“Frustration Doctrine”). “Force majeure” events mirror “Acts of God” like floods that are outside of parties’ control and relieve […]
How Psychedelics Became The Next Wave
Feeling kind of blue? Experiencing intimacy issues or just plain anxious? Help may be right around the corner in the form of legalized hallucinogens. Ranging from plant drugs, like mushroom-derived psilocybin and cactus-derived peyote, to synthetics like Lysergic acid diethylamide (“LSD”) and Methylenedioxymethamphetamine (“MDMA”), hallucinogens are increasingly used to treat recognized disorders, including depression, anxiety, and […]
Hemp Eruption Favors Jersey First
Was it really this asinine? Up until last year, 3 federal agencies and 42 state governments were creating contradictory Hemp growing and processing rules often barring hemp-derived product sales and demonizing one particular item, Cannabidol (“CBD”). This exploded in the ensuing 12 months with $641 million in domestic hemp-derived product sales (78% of which was […]
New Jersey Leads Nation in Hemp Program Approval and Launch
Jersey got there first! Leapfrogging over 16 other states with more established hemp programs, on December 27, 2019, the U.S. Department of Agriculture (“USDA”) approved New Jersey’s proposed hemp growing, processing and selling regulations, including Cannabidol (“CBD”), starting in 2020. NJ Hemp Program’s Creation Following Congress’ December 2018 passage of the Agriculture Improvement Act of […]
