June 4 - 5, 2025
Javits Convention Center

Why New York, Why Now?

The Advantages of Exhibiting at Cannabis Means Business in NYC

 

As the cannabis industry continues its rapid expansion, businesses face a critical question: Where can they connect with decision-makers, discover innovative trends, and grow their market presence? For many, the answer is clear—New York City, and right now. Exhibiting at the Cannabis Means Business Conference – NY Global Edition is your chance to tap into this growing market at the epicenter of commerce and innovation.

Why New York?

New York has rapidly emerged as a critical market for cannabis, supported by forward-thinking policies and an expansive consumer base. Exhibiting in NYC isn’t just about being seen—it’s about positioning your brand where commerce, culture, and cannabis converge.

  1. A Massive Consumer Market: With a population of over 19 million, New York State represents one of the largest consumer bases in the U.S. Its diverse, largely cosmopolitan population provides an unmatched opportunity to build brand trust and visibility across many different demographics.
  2. Gateway to Global Markets: As an international hub, NYC attracts entrepreneurs, investors, and industry leaders from around the world. Exhibiting here opens doors to international markets, connecting your business with global opportunities that extend far beyond U.S. borders.
  3. Influence on Policy & Innovation: New York sets trends—not just in culture but in policy and innovation. Companies exhibiting in NYC align themselves with a forward-thinking ecosystem that fosters responsible and sustainable cannabis business practices.

Why Now? 

The cannabis landscape is transforming at an unprecedented pace, and New York’s market is still in its early stages. Businesses that establish a foothold now will reap the rewards of early adoption and influence. Here’s why timing is critical:

  1. Unmatched Growth Opportunities: New York’s cannabis market is on the rise, and companies entering now will be positioned as industry leaders. Exhibiting at Cannabis Means Business ensures your brand takes center stage during this pivotal growth phase.
  2. Cross-Sector Networking & Collaboration: NYC’s unparalleled mix of industries—finance, technology, retail, and more—provides an ideal platform for cannabis businesses to connect with traditionally non-cannabis sectors now exploring opportunities in this fast-growing industry.
  3. Showcasing Innovation in a High-Visibility Setting: As the cannabis sector matures, businesses are driving innovation in products, services, and technologies. Cannabis Means Business provides a premier platform to showcase these advancements to an audience eager to invest, collaborate, and grow.

Why Exhibit at Cannabis Means Business? 

Exhibiting at this conference a range of benefits designed to help your brand stand out and thrive in the competitive cannabis marketplace:

  • Access to a Targeted Audience: Gain direct access to an audience of decision-makers, entrepreneurs, and investors actively seeking partnerships and solutions.
  • Cross-Industry Exposure: NYC’s influence extends far beyond cannabis, drawing attention from financial institutions, tech innovators, and retailers who are increasingly interested in cannabis. This event is your gateway to partnerships with sectors driving the global economy.
  • Brand Visibility in a High-Stakes Market: New York is home to major media outlets and influencers who shape public perception. For the savvy operator, exhibiting in NYC opens up access for your brand to gain exposure that resonates far beyond the event, amplifying awareness and impact.

Shaping the Future of Cannabis

The cannabis industry’s future is being written here, today. Be a part of it—exhibit with us at Cannabis Means Business and position yourself as a thought leader driving standards and trends that will define the industry for years to come.

Join Us at Cannabis Means Business 

The Cannabis Means Business Conference – NY Global Edition is more than an event—it’s a gateway to the future of the cannabis industry. By exhibiting, you’ll connect with a diverse audience, build strategic partnerships, and solidify your brand’s position in this transformative market.

 

Why New York, why now? Because NYC is where the cannabis industry intersects with the world’s leading sectors, and its influence is reshaping the market today.

 

Secure your spot now and be part of the premier event that’s defining the future of cannabis in North America and beyond. Let Cannabis Means Business put your brand at the center of the conversation.

 

HITR #23: Justin Johnson, Budsfeed & Chill Steel Pipes

In this episode, KymB gets the “blunt” facts in a candid conversation with Justin Johnson, founder and CEO of BudsFeed, an online community platform launched in 2019 that connects people around their favorite cannabis-related products and services.

 

Justin is also the co-founder and CEO of Chill Steel Pipes; makers of the world’s first double-wall vacuum insulated smoking apparatus.

 

He shares how he got his start in cannabis, what’s trending in cannabis media, and much more.

 

Justin says that you have to market your products every day and can’t take for granted that people know what you have.

 

Kym B asked: “Where do you get the most of your newsletter sign-ups from?”

 

“I would say the majority of it was the site. So I was driving people to sign up for the site either to vote on products or contribute their own products and by default you got signed up for the newsletter. Second was probably LinkedIn, and pro-active B2B outreach and trying to get people to sign up and learn. Instagram, I’ve definitely gotten some sign-ups from that, but really what I’ve found was there are people that read newsletters and there are people that look at pictures, and my Instagram strategy was more so a means of allowing them, other people, to get that content without having to subscribe.”

 

Don’t miss this discussion about cannabis marketing.

HITR #22: Lauren Mundell, Hi-Curious

In this episode, KymB gets the “blunt” facts in a candid conversation with Lauren Mundell, author and creator of the Hi-Curious app and content marketplace.

 

The Hi-Curious app is designed to help wellness consumers explore cannabis without fear of stigma. It connects users with advocates, experts, brands, and like-minded individuals in a safe space.

 

Mundell is also founder of the Hi-Curious content market place, an on-line portal to find the influencers and ambassadors to build your brand. Find out what makes a good brand ambassador and how influencer marketing can help your business. Get tips on selecting the brand ambassador that’s right for you.

 

Don’t miss this discussion about cannabis brand building.

New Look. New Opportunities. Reinvention.

As we enjoy the foliage and leave October for the November election and the start of the holiday season, CWCBExpo is excited to launch our new look and reinvent ourselves as Cannabis Means Business (CMB).

“This evolution is a significant shift in the landscape of cannabis industry events and reflects the needs of today and the future of the industry.”

Christine Ianuzzi, CEO, Founder, Cannabis Means Business

Cannabis Means Business (CMB) is a new vision for the show previously run as CWCBExpo. This evolution is a significant shift in the landscape of cannabis industry events and reflects the needs of today and the future of the industry.

Taking place June 4-5, 2025 at the Javits Center in New York, this transformation to CMB reflects a growing recognition of the cannabis sector’s evolution and its increasing relevance in business discussions across a multitude of industries in the US and around the world.

CMB–New York Global Edition will serve as a dynamic platform that encompasses an impactful range of topics, emphasizing the integration of cannabis into mainstream business practices. The event will foster an environment where industry professionals, entrepreneurs, investors, policymakers and key stakeholders can engage in meaningful dialogue about the future of cannabis and New York’s growing influence as a global hub.

Ribbon Cutting Ceremony, with press, 2024
Ribbon Cutting Ceremony, with press, 2024

“The Politics and Medicine of Cannabis: A Multi-state Approach.”

In keeping with the political season, and with many states having ballot measures up for a vote on election day, we feature one of the sessions from our June 2024 conference, “The Politics and Medicine of Cannabis: A Multi-state Approach.”

This session holds a timely relevance as 40 states have passed laws for medical and/or adult-use of cannabis – without waiting for changes on a federal level to cannabis regulations.

Read more about this session at the bottom of this newsletter, or click here to view the session now.

Rescheduling News

Rescheduling Decision Delayed

DEA Hearing Delayed Until 2025

The Drug Enforcement Administration (DEA) just announced (on November 1), that the scheduled December 2 hearing, with testimony and witnesses, will be delayed into 2025.

Before this delay, the DEA had just begun to notify the selected participants who would speak at the December 2 hearing. The purpose of this hearing was for the DEA to gather more information from stakeholders and experts on the issue of rescheduling cannabis from a Schedule I to a Schedule III drug. Applicants submitted a letter requesting to speak at the hearing.

New York State Cannabis News

New York State Office of Cannabis Management, Cannabis Control Board

Noteworthy happenings have transpired this month regarding New York State and its efforts to strengthen and expand the build-out of its cannabis industry efforts. Among them include:

 

  • The Cannabis Control Board (CCB) held a meeting on October 17, 2024. At the meeting they reported that the total Cannabis Retail Sales amount is close to reaching $700 million. Other valuable stats were reported about NYS cannabis sales, dispensaries, licensing, etc.. To learn more about what transpired at this decisive and informative meeting, read through the meeting slides: https://cannabis.ny.gov/system/files/documents/2024/10/october-10-2024-ccb-meeting-deck.pdf

     

  • The public comment period ended on October 28, 2024 regarding the proposed amendments to marketing and advertising cannabis and cannabis products in NYS. Proposed amendments were filed by the NYS CCB to the Department of State to Parts 128 & 129 Packaging, Labeling, Marketing and Advertising Regulations. The full list of the proposed regulations can be found here:  https://cannabis.ny.gov/system/files/documents/2024/08/exprs-trms-prts-128-129-amend-final.pdf

  • NYS opened up the application process for Adult-Use Processor Type-3 Branding licenses. Though not a plant-touching license, it allows the licensee to enter into white labeling agreements with NYS licensed cannabis processors who will manufacture a brand’s cannabis products. Stipulations as to what this Type-3 Branding License does can be found here:  https://www.businessexpress.ny.gov/app/answers/cms/a_id/3833

  • NYS launched a grant application program called the Community Reinvestment Program. This program aims to fund non-profit organizations dedicated to supporting young people in under-served and under-resourced communities. This program will be funded by legal adult-use cannabis sales in line with the Marijuana Regulation and Taxation Act (MRTA) which legalized Adult-Use cannabis sales in NYS. Read more about the grant program here:  https://cannabis.ny.gov/reinvestment

  • Since MRTA was introduced in 2021, much has occurred in NYS and its efforts to build its legal cannabis industry. A comprehensive Implementation Report on MRTA was issued by the NYS Office of Cannabis Management (OCM). Download the report here: https://cannabis.ny.gov/system/files/documents/2024/10/mrta-implementation-report.pdf
NYS OCM Office of Cannabis Management

Congratulations to These Recent Adult-Use Dispensary Openings

Bayside Cannabis Dispensary

OAKLAND GARDENS | 224-15 Union Turnpike, Oakland Gardens 11364
Website: https://baysidecannabis.com

Secret Garden 716

BUFFALO | 1363 Delaware Avenue, Buffalo 14209
Website: https://secretgarden716.com

Back Home Cannabis Co.

STONE RIDGE | 3056 State Route 213, Stone Ridge 12484

Joint Jungle

LIBERTY | 187 Mill Street, Suite 6, Liberty 12754
Website: https://jointjungleny.com

FingerLakes Cannabis Co

VICTOR | 5 Railroad Street, Victor 14564
Website: https://flxcannaco.com

Catskill Mountain High

KINGSTON | 308 Plaza Road, Kingston 12401
Website: https://catskillmtnhigh.com

Brown Budda New York

SOUTHAMPTON | 1533 Country Rd 39, Southampton 11968
Website: https://brownbuddanewyork.com

Collegetown Dispensary

ITHACA | 105 Dryden Road, Ithaca 14850
Website: https://collegetowndispensary.com

NUGHUB NY

STATEN ISLAND | 1350 Forest Avenue, Staten Island 10302
Website: https://nughubny.com

Hazy Daze

WAVERLY | 332 Broad Street, Waverly 13743
Website: https://hazydaze.store

Mammoth Cannabis

BUFFALO | 212 Ohio Street, Buffalo 14204
Website: https://mammothcanna.com

NUG Yonkers

YONKERS | 2371 Central Park Avenue, Yonkers 10710
Website: https://nug.com/nug-cannabis-yonkers

Treehouse Cannabis

NYACK | 28 Route 59, Nyack 10960
Website: https://treehousecannabis.com

County Road Cannabis

HUDSON VALLEY | 1326 CR-12, New Hampton 10958
Website: https://countyrdcannabis.com

KushKlub NYC

NEW YORK CITY | 186 Orchard Street, New York 10002
Website: https://kushklub.com

Salmon River Cannabis Company

PULASKI | 3808 State Route 13, Pulaski 13142
Website: https://salmonrivercannabis.com

Happy Munkey

NEW YORK CITY | 151 Dyckman Street, New York 10040
Website: https://happymunkey.com

The People’s Joint

SCHENECTADY | 501 State Street, Schenectady 12305
Website: https://thepeoplesjoint.com 

New Jersey Cannabis News

New Jersey Cannabis Regulatory Commission Issues Announcements

New Jersey Cannabis Regulatory Commission Issues Announcements

 

Much has happened in New Jersey. The New Jersey Cannabis Regulatory Commission (NJCRC ) has made progress in many areas. Here are several of their many recent announcements:

 

  • The NJCRC held its final virtual session to seek input from stakeholders of medicinal cannabis on October 1, 2024. They sought participation from healthcare providers, patients, and business owners. These meetings were focused on Product Safety, Packaging, and Labeling Committee (PSPLC), and Permitting and Licensing Committee (P&LC).
  • The Cannabis Training Academy opened on October 16, 2024

  • The final Medicinal Cannabis Program (MCP) Registration Clinics are set for November 13, 15 and 19, 2024

  • As of October 22, 2024, there are 2,108 approved Recreational Licenses

  • As of October 17, 2024, 170 retail and medical dispensaries have opened across 21 counties in NJ
NJ Cannabis Regulatory Commission

Learn more and access the slides and information from the most recent NJCRC meetings held on October 17th and 30th, and get info on future meetings:
https://www.nj.gov/cannabis/about/meetings/

Military Veteran Opens New Jersey Dispensary

Congratulations to Dr. Alyza Brevard-Rodriguez, CEO & Founder of the recently opened adult-use dispensary “The Other Side,”  located at 36 Congress Street in Jersey City.

Dr. Alyza spoke in our June 2024 CWCBExpo conference in the Dispensary Workshop and at the Women’s Entrepreneur Luncheon. She earned her doctorate in Leadership Management, and is a twice disabled combat veteran and a former U.S. Navy military police officer. She is also an industry trailblazer being the first Black, LatinX, LGBTQ, Female, and Disabled Veteran licensed cannabis operator in NJ.

Visit the TOS Dispensary website here.

Delaware Cannabis News

Cannabis License Lottery

The Delaware Office of the Marijuana Commissioner awarded cannabis licenses on October 24, 2024 in a lottery held via a Facebook live event – it was monitored by an accounting firm.

 

Learn more about the outcome of the lottery from the Delaware Office of the Marijuana Commissioner.

OfficeoftheMarijuanaCommissioner-Delaware1

Learn more and access the slides and information from the most recent NJCRC meetings held on October 17th and 30th, and get info on future meetings:
https://www.nj.gov/cannabis/about/meetings/

Ohio Cannabis News

Sales Exceed $75 Million in Two Months

Recreational sales started in Ohio on August 6, 2024. Ohio Adult-use sales have been in the green ever since. In less than two months they exceeded $75 million.

Read more here from the Ohio Capital Journal.

National Cannabis News

VOTE: State Ballot Measures

As we have been highlighting in our recent Newsletters, many states have ballot measures in this election.  With early voting yielding a large voter turnout across the states – anticipation grows. Which states have ballot measures is very important to know.  Michelle Rutter-Friberg, Director of Government Relations for the NCIA, highlights which states are on the ballot.

(Michelle Rutter-Friberg is also featured in this month’s session recording, located at the bottom of this newsletter.)

Learn more from NCIA here.

Smoke the Vote with NORML

Visit NORML to stay informed about legalization efforts across the entire country.

 

Learn more from their Smoke the Vote guide.

Uruguay Cannabis News

Meet the First Country to Legalize Recreational Cannabis

Did you know that Uruguay was the first country in the modern era to legalize recreational cannabis? The year was 2013 under president Jose Mujica. He did it to combat drug crimes and to improve health. The legislation was monumental as it allowed ultimately for home grow.

 

The cannabis laws in Uruguay are regulated by the Instituto de Regulación y Control del Cannabis (IRCCA) which has been successful in its evolution of regulations and building the cannabis industry in Uruguay.

 

Read more from Uruguay’s IRCCA.

Smoke the Vote with NORML

Visit NORML to stay informed about legalization efforts across the entire country.

 

Learn more from their Smoke the Vote guide.

THIS MONTH’S CWCBExpo NY 2024 ARCHIVED VIDEO

The Politics & Medicine of Cannabis: A Multi-state Approach

This session is a discussion of regulation and policy, highlighting supply chains for both medicinal and adult use channels. Subjects include the latest regs and the potential impact of re-scheduling to Schedule III from Schedule I for the adult-use retail market and for medical patients.

 

Moderator: Nichelle Santos, Founder, CEO, CannaCoverage

 

Speakers: Tosin Ajayi, Senior Policy Research & Policy Analyst, Cannabis NYC; William J. Caruso, Partner, Archer-Greiner; Michelle Rutter-Friberg, Director Government Relations, National Cannabis Industry Association; Ken Weinberg, MD., Founder, CEO, Cannabis Doctors of New York

 

To watch the full session recording, click here.

We look forward to seeing you at Cannabis Means Business 2025.

June 4 – 5, 2025
Javits Convention Center, NYC
Graphically designed Cannabis Means Business logo in a dark blue circle, against a green duotone backdrop. The logo is all white, and is a giant CMB(service marked) atop 'Cannabis Means Business'. Another line below is between 3 stylized arrows facing either direction, and in the middle it reads: New York Global Edition.

Cannabis Means Business, a Bold New Vision for CWCBExpo

The Leading New York Cannabis Trade Show & Conferences Launches an Exciting New Vision and Rebrand Reflecting the New Directions for Advancing the Vast Cannabis Industry

 

(New York, New York, October 2024) Cannabis Means Business (CMB) is a new vision for the show previously run as CWCBExpo. This evolution is a significant shift in the landscape of cannabis industry events and reflects the needs of today and the future of the industry. Taking place June 4-5, 2025 at the Javits Center in New York, this transformation to CMB reflects a growing recognition of the cannabis sector’s evolution and its increasing relevance in business discussions across a multitude of industries and around the world.

 

CMB–New York Global Edition will serve as a dynamic platform that encompasses an impactful range of topics, emphasizing the integration of cannabis into mainstream business practices. The event will foster an environment where industry professionals, entrepreneurs, investors, policymakers and key stakeholders can engage in meaningful dialogue about the future of cannabis and New York’s growing influence as a global hub.

 

“The entire global cannabis supply chain is looking at the Northeast United States, and especially New York, for the latest business opportunities and cannabis innovations. More than 10 years ago, CWCBExpo was a pioneer in championing the New York market when it started the first annual cannabis business trade show at the Javits Center. This transformation into Cannabis Means Business (CMB) underscores the importance of this key market, marked by growing consumer demand, an inclusive regulatory framework, international access, and the potential for incredible growth,” said Christine Ianuzzi, CEO of CMB.  “New York is quickly becoming not only a sales epicenter but is also taking the mantle of a hub of commerce and insight at the national and international level.”

 

With this evolution, CMB attendees can expect a greater array of educational sessions, workshops, and networking opportunities designed to address the complexities of operating within the regional, national, and global cannabis marketplace. Topics will include market trends, investment strategies, global opportunities, regulatory frameworks and innovative business models that are shaping the industry.

 

The Cannabis Means Business conference will highlight successful case studies and best practices from both cannabis-specific companies and traditional businesses that have integrated cannabis into their ecosystem. This approach will provide valuable insights for those looking to navigate the evolving landscape and market dynamics.

 

“As the cannabis industry continues to grow and evolve, the transition from CWCBExpo New York to Cannabis Means Business–New York Global Edition reflects our commitment to advancing the conversation around the global cannabis supply chain. This focus aims to empower and equip attendees with the tools, resources, and knowledge necessary to thrive in an increasingly competitive and international market,” said Jennifer Hoff, President of Taffy Event Strategies.

 

The tranformation to Cannabis Means Business will continue to attract the decision making audience that gets business done, including those from adjacent industries who are exploring opportunities within the cannabis space. CMB will also continue to incorporate and empower the multi-faceted nature of the cannabis industry.

 

For more information and to learn about exhibiting and sponsorship opportunities at CMB–New York Global Edition, visit: www.cannabismeansbusiness.com.

 

 

About Cannabis Means Business (CMB)

Cannabis Means Business (CMB), formerly CWCBExpo, is the premier North American trade show and conference for professionals and companies who are serious about growth, innovation and building their business in cannabis.  As champions of a responsible, ethical, sustainable and profitable cannabis ecosystem, CMB reflects the vibrancy and complexity of New York City—a global hub for business, innovation and the cannabis supply chain. Visit: www.cannabismeansbusiness.com

HITR #21: Ramon Reyes, Happy Munkey

In this episode, KymB gets the “blunt” facts in a candid conversation with Ramon Reyes, co-founder of Happy Munkey.

Ramon describes the uniqueness of New York City’s cannabis culture, where “flower is still king.” He says local weed quality has improved rapidly since last year, as new indoor strains are being developed. Ramon sees New York as leading cannabis in “every aspect, because it’s just getting better. It just started three years ago, and it’s just getting better.”

Listen as Ramon describes the keys to Happy Munkey’s success, which include creating venues where all people feel they are VIPS, feel they are safe, and can just be themselves.

Don’t miss this discussion of New York City vibes, culture and business.

Interview with Renata Serban, CPA (& more!)

Fall Season. Back to School.
Back to Business.

The Fall season is just starting, students are back at school, and businesses are shoring up their planning.

In this Newsletter we feature Renata Serban, with a brief follow-up conversation from her podcast earlier this week.*

Renata Serban, a Certified Public Accountant and Certified Management Accountant is an award-winning cannabis accountant and Founder/CEO of Highly Elevated CPA. Renata has a wide-ranging background in many disciplines, including chemical engineering and finance, making her eminently qualified to advise cannabis entrepreneurs and guide their businesses forward. 
Renata Serban, CPA
Q: CWCBExpo – You moderated a session at our conference in New York this past June.* It was about how technology can impact a cannabis business. You have a technical background which made you the perfect moderator for the session, “High Tech: How Technology Can Drive Your Business.”  You hold an engineering degree, you are a CPA, and you founded your own firm – Highly Elevated CPA – where you are an advisor, CPA tax specialist, and compliance expert to cannabis business owners.

With such a background and experience, when you advise new and existing entrepreneurs, how do you recommend they plan their finances for profitability, growth, and compliance while capital may be scarce?

A: Renata – My overall recommendation, and many business people will agree with me, is that before you start a business you need a business plan. For some reason, many start-up cannabis operators are ignoring it.

During the process of development of the business plan an entrepreneur will identify and analyze many aspects of business operations. For example, if it’s cultivation, what is the size of the lot or area where the plants will be grown, how many harvests will be during a year, what is the selling price per pound, how many employees are needed, what is the cost of build out, what are the other costs needed for getting the product ready for sale, who are the competitors, who are the potential partners?

When going through all of these thoughts an entrepreneur can have a much better idea how much funding is needed, what compliance is necessary since a business plan has to be tailored to cannabis regulations, and estimate potential growth by predicting how the market will move with time.

Scarce capital is always an issue not just for cannabis operators but for many other industries. Yes, there are more loans available for non-cannabis industries but many banks prefer operational businesses and very often the start-up non-cannabis businesses also struggle with capital raise.

Having a solid business plan with detailed financial projections is a must for any capital raise. Strong consideration also has to be given to strategic partnerships with other businesses.

“My overall recommendation is that before you start a business you need a business plan. For some reason many start-up cannabis operators are ignoring it.”

Once the company becomes operational, the profitability, growth and compliance is really driven by staying on top of the operations. I’m frequently seeing that some business owners in their first months of operations are over-hiring and over-ordering products. I always recommend starting lean with a smaller team and then gradually grow as needed. The same with products, start with small inventory, see how it goes and then increase purchases as needed.

All processes within the business need to be clearly identified so everyone knows their own responsibilities and has tools to perform those responsibilities. Automating as much of business operations as possible is important for efficient operations.

The marketing and advertising regulations in cannabis are a serious issue to consider when developing brand awareness and attracting foot traffic to the store. Dispensary owners need to think about brand development before the store is open, and they must constantly stay on top of their branding strategy once operations begin.

Prioritizing cash flow management, focusing on customer retention, efficient operations and reviewing financial metrics on a regular basis (at least monthly) are really the keys to growth. 

“Prioritizing cash flow management, focusing on customer retention, efficient operations and reviewing financial metrics on a regular basis are really the keys to growth.”

Q: CWCBExpo – You have great experience with one of the largest CPA firms that serve the industry, and you now own your own firm, Highly Elevated CPA. What advice can you give to anyone looking to go out on their own after working for a large corporate company? What steps do you recommend for them to take prior to branching out on their own?

A: Renata – The profession of accounting is currently evolving. There is a shortage of qualified accountants which is due to many factors. Some of them are declined enrollment in accounting programs, high educational requirements along with the complicated CPA exam, stress due to complex compliance rules and long hours during the busy season.

My professional accounting background is very diverse and unique. Back in the day, many CPAs working for public accounting firms would eventually move to private accounting where they would work on accounting just for one company. Nowadays, the trend is in the opposite direction. Many public accounting firms prefer to hire accountants from the private sector since these professionals would most likely know not just accounting, but operations as well. This type of work experience is very useful in public accounting firms which makes them great advisors. This was my path decades ago. I moved from being a controller for a realty management firm to being an accountant at a CPA firm.

The size of the CPA firm is also very important and I was fortunate enough to work for small firms, mid-size and larger accounting firms. The experience was very different at each firm due to the size. At each firm I learned a lot.

Starting your own business is a very challenging and a risky task. Having good technical skills is not enough when branching out on your own. As a business owner you also have to understand that you need to bring new clients. So the main recommendation before you decide to branch out is to have a good business network and have your name out there. There are many super smart accountants that don’t know how to do business development.

It’s also important to identify the goals for your firm, who will be the ideal client for the firm, what services should be provided, how many clients are enough, the infrastructure of the firm, etc.**

“As a business owner you also have to understand that you need to bring new clients. So the main recommendation before you decide to branch out is to have a good business network and have your name out there.”

* Visit CWCBExpo’s “Highest: In The Room” podcast to hear more from Renata Serban.

In the September 26 podcast, KymB gets down and real and specific with Renata about rescheduling, business planning, and the critical importance of proper accounting practices.

** Learn more about the technology to consider in your business plan. In this newsletter we feature a hot business topic from the 10th Annual CWCBExpo 2024 Conference: “High Tech: How Technology Can Drive Your Business.”  Hear about seed-to-sale software, humidity control, pre-roll machinery, vape battery technology, and of course, the impact these have on the bottom line. This session was moderated by Renata Serban, Founder and CEO of Highly Elevated CPA.

(More info and the link to watch this video are at the bottom of this newsletter.)

Rescheduling
Rescheduling Update – Prior 280-E Debts Will be Enforced

In our August newsletter, we highlighted that the Drug Enforcement Administration has delayed Rescheduling cannabis from Schedule I to Schedule III and has set a hearing for December 2, 2024. The stated reason for the delay is that they need to gather more information before a decision is made. Luke Ortner, Senior Counsel, IRS, Office of Chief Counsel, appeared as a keynote speaker in the American Institute of CPAs® and the Chartered Institute of Management Accountants® Cannabis Conference. The senior Counsel was questioned and commented on a variety of issues surrounding the taxation impact on rescheduling. One point made was that the 280-E tax policy will continue to be enforced until rescheduling is completed, and any eventual removal of 280-E is not likely to be retroactive, meaning that any past due IRS debts regarding 280-E are likely to remain collectable liabilities.

New York State Cannabis News
New York State Office of Cannabis Management, Cannabis Control Board

This month the NYS Office of Cannabis Management (OCM) announced and issued for use a new tool called the Legal Online Cannabis Activities Locator (LOCAL) Map. It is geared to streamline the licensing process and allow for transparency. It also is trying to save applicants money by not having to engage third party services during the application process. In their announcement, the OCM highlighted several aspects of this LOCAL Map tool including that it helps applicants and businesses to:

  • Evaluate retail locations
  • Check municipal opt-out statutes
  • Access data for cannabis licensing in NYS

The LOCAL Map tool has both an Industry-Focused Map tool and a Consumer-Focused Map tool geared as follows:

  • The Industry-Focused Map tool is meant for applicants, licensees and stakeholders, and can provide proximity reports, search licenses and provide the data needed to meet regulatory requirements
  • The Consumer-Focused Map tool is a dispensary locator map that locates the nearest legal dispensary in New York
NYS Market Update

There is some very positive news about retail sales in NYS. The NYS Cannabis Advisory Board (CAB) held a meeting on September 24th, and John Kagia, the NYS OCM Director of Policy, provided some sales data on the NYS retail market. Kagia asserted that the revenue outlook by year’s end is quite good and could approach $800MM.

  • The total retail sales in August closed in on $100MM
  • The total retail sales is projected to be over $500MM by the third quarter

Much of the good sales news was helped by the opening of more licensed dispensaries combined with the crack down on illegal shops, which substantially helped the legal dispensary sales.

New York State Government

Congratulations to These Recent Adult-Use Dispensary Openings

It is noteworthy is that as of September 24, 2024, the OCM reported that 197 legal Adult Use dispensaries have already opened for business. They project that 200 total dispensaries will be opened by the end of September.

Valley Greens
PEEKSKILL | 939 Central Ave, Peekskill 10566
Website: https://valleygreensny.com

Greens Greenery
UNADILLA | 54 State Highway 357, Unadilla 13849

High Peaks Canna
SARATOGA SPRINGS | 137 Maple Avenue, Saratoga Springs 12866
Website: https://highpeakscanna.com

Royal Blend Dispensary
KINGSTON | 2223 NY-32, Kingston 12401
Website: https://royalblenddispensary.com 

Alto on Chambers
NEW YORK CITY | 110 Chambers St, New York 10007
Website: https://altocanna.nyc

HighLife Health
NEW ROCHELLE | 19 Huguenot Street, New Rochelle 10801
Website: https://highlifehealth.co

ZenZest
STATEN ISLAND | 2343 Forest Avenue, Staten Island 10303
Website: https://zenszest.com

Lifted
JAMESTOWN | 320 North Main Street, Jamestown 14701

Bodega Express***
NEW YORK CITY | This is a Temporary Delivery Only (TDO) location.
No in-person or pre-order sales are allowed at this location.
Website: https://bodegaexpressny.com

Sparkboro
WASHINGTON HEIGHTS | 704 W 177th Street, New York 10033
Website: https://sparkborony.com

High Stone*
*Transitioned from Temporary Delivery Only (TDO) to Brick & Mortar location
STATEN ISLAND | 1938 Clove Road, Staten Island 10304
Website: https://highstone.nyc

State of Mind Dispensary
LATHAM | 521 Troy Schenectady Road, Latham 12110
Website: https://itssom.com

Gotham Hudson
LATHAM | 260 Warren Street, Hudson 12534
Website: https://gothamnyc.com

White Atmoss
NEWBURGH | 136 Lake Street, Ste 2, Newburgh 12550
Website: https://whiteatmoss.com

Nuna Harvest
MT VERNON | 696 Locust Street, Mt Vernon 11552
Website: https://nunaharvest.com

Beleaf BK
BROOKLYN | 1077 Atlantic Ave, Brooklyn 11238
Website: https://beleany.com

Leaf Plug
AMHERST | 3341 Sheridan Drive, Amherst 14226
Website: https://leafplug.com

Brooklyn Bourne
BROOKLYN | 2223 Church Avenue, Brooklyn 11226
Website: https://brooklynbourne.com

Bleu Leaf Dispensary
BRONX | 2034 Jerome Avenue, Bronx, NY 10453
Website: https://bleuleafdispensary.com

Ether
BUFFALO | 5100 Genesee Street, Buffalo 14225

The Highly Connected Dispensary
ITHACA | 423 Franklin Street, Ithaca 14850
Website: https://thehighlyconnected.com

Etain Kingston
KINGSTON | 445 State Route 28, Kingston 12401
Website: https://etain.com

Reef Dispensary
GREENFIELD CENTER | 2532 Route 9N, Greenfield Center 12833
Website: https://reef-dispensary.com

Satisfied Mind
NORTH TONAWANDA | 31 Webster Street, North Tonawanda 14120
Website: https://wnymind.com

Frass Box
BRONX | 3633 Kingsbridge Avenue, Bronx 10463
Website: https://frassboxcannabis.com

Luxus Botanica
ROME | 8234 Turin Road, Ste 1, Rome 13440
Website: https://luxusbotanica.com

Verilife East Syracuse
EAST SYRACUSE | 5841 Bridge Street, Ste 100, East Syracuse 13057
Website: https://verilife.com/ny/locations/east-syracuse

Sweetlife
MANHATTAN | 1662 First Avenue, New York 10028
Website: https://sweetlife.nyc

New Jersey Cannabis News

New Jersey Seeking Stakeholder Input on Medical Cannabis

Coming up on October, 1, the New Jersey Cannabis Regulatory Commission will have its final virtual session to seek input from stakeholders of medicinal cannabis. They seek participation from healthcare providers, patients, and business owners. They already held three such virtual meetings. These meetings are run by the Product Safety, Packaging, and Labeling Committee , and Permitting and Licensing Committee, and are scheduled as follows:

  • All meetings are currently scheduled for 11:30AM – 12:30PM each of those dates
  • These sessions are being organized by the NJCRC’s Commission on Public Engagement and Education Committee
  • The final roundtable session, scheduled for October 1, will be focused on Permitting and Licensing Committee issues.

If you want to participate, click here. Invitations are required in order to participate, and you will need to fill out an invitation request form.

NJ Cannabis Regulatory Commission

New Jersey Governor Phil Murphy Signs Hemp Bill

Governor Phil Murphy signed a bill that regulates the hemp market for intoxicating hemp products and prohibits the unauthorized sale to anyone under the age of 21.

National Cannabis News

DOOBIE Act

This month, the Senate Homeland Security and Government Affairs Committee approved the DOOBIE Act: Dismantling Outdated Obstacles and Barriers to Individual Employment. The DOOBIE Act is important because it limits the ability for federal agencies to use past cannabis usage against applicants getting security clearance or getting federal employment. This will certainly help to minimize the discrimination that applicants who use cannabis get when applying for federal jobs that require security clearances. Those applicants can no longer be disqualified solely due to prior cannabis use.

State Ballot Measures this November

Many states have cannabis ballot measures in this election and with early voting, things are already started. All cannabis industry businesses should stay up to date on the various measures that are now being voted on.

Nixon Recordings

The War on Drugs that Nixon unleashed needlessly created decades of injustice to people of the United States. Recently, it was uncovered that Nixon recorded, in his own words, his acknowledgment that marijuana is not dangerous. This revelation was recently found in his recordings that he kept private.

Pickleball Anyone?

Truleive Cannabis Corp. announced in a press release they forged a partnership with the Professional Pickleball Association (PPA), and with MLP by Margaritaville (Major League Pickleball).

This is an early example of a cannabis company sponsoring a sports league.

Germany Cannabis News

Germany’s Legalization

In our February Newsletter we highlighted that Germany legalized limited recreational use. Their plan sought to make it accessible through regulated cannabis non-profit groups with stringent rules regarding possession, age requirements, and grow restrictions among the members. It seems that the illicit markets there, are having a boom of their own while the German plan gets implemented. Several factors have impacted Germany’s legal recreational market.

THIS MONTH’S CWCBExpo NY 2024 ARCHIVED VIDEO

High Tech speakers (from the left) Renata Serban, Luna Stower, Dawne Morris, Dr. Sandra Shen, and Anthony Pagni
High Tech session speakers (from the left) Renata Serban, Luna Stower, Dawne Morris, Dr. Sandra Shen, and Anthony Pagni CWCBExpo NY 2024

High Tech: How Technology Can Drive Your Business

This is a discussion about how technology should figure into your cannabis business. We explore how technology affects your ROI and the aspects that can make a difference.

The session is brimming with cannabis business innovators, technologists, and entrepreneurs discussing how technology could impact your business plan and how it can make a difference for your business success. Moderated by Renata Serban, Founder and CEO of Highly Elevated CPA, and joined by iconic leaders from various sectors, this session delivered a very energetic and informative approach on how tech can and will drive your business.

Moderated by Renata Serban, Founder, CEO, Highly Elevated CPA, with: Dawne Morris, CEO and Co-founder of PROTEUS Business Solution; Anthony Pagni, Founder & Co-Owner Perfectionist Rolling Equipment, Managing Partner, Aephex, Automated Pre-Roll System; Dr. Sandra Shen, Founder, ATMOSIScience Inc; Luna Stower, Chief Impact Officer, Ispire Vape Technology.

Don’t miss out. Get prime exhibit space now.

CWCBExpo, 11th Annual
June 4 – 5, 2025
Javits Convention Center, NYC

 

HITR #20: Renata Serban, Highly Elevated CPA

In this episode, KymB gets the “blunt” facts in a candid conversation In this episode, KymB gets the “blunt” facts in a candid conversation with Renata Serban.

Renata Serban is an award-winning cannabis accountant and Founder/CEO of Highly Elevated CPA. Renata Serban has a wide-ranging background in many disciplines, including chemical engineering and finance, making her eminently qualified to advise cannabis entrepreneurs and guide their businesses forward.

Renata, a Certified Public Accountant and Certified Management Accountant, is driven by a passion to help cannabis businesses start, grow, and thrive. With a unique mix of private and public accounting experience, she has successfully served her clients while advocating for the cannabis industry through state and global organizations.

Renata is excited to see more women entering the cannabis space and breaking down stereotypes. She also discusses the specific obstacles faced by cannabis entrepreneurs, many created by the new business operators themselves, who enter a difficult industry with passionate ideals but without a clearly formulated business plan. She describes the challenges of operating in a highly regulated industry and the lack of specific guidance for accountants. Tune in to learn some fun facts about Renata and hear her thoughts on the future of cannabis—change is coming!

HITR #19: Jane West

In this episode, KymB gets the “blunt” facts in a candid conversation with Jane West.

Jane West is both a leading cannabis activist and CEO of the eponymous lifestyle brand Jane West. KymB refers to West as a true “pilgrim of the plant.” As part of her activism, West founded Women Grow in 2014, a pioneering organization that hosts networking events featuring industry leaders to empower women to succeed and influence the cannabis industry.

West shares her journey as a woman entrepreneur in the cannabis space, the challenges she’s faced, and her vision to make the industry more inclusive for women. From starting all of her businesses as a solo entrepreneur from her home office, to leading a movement, Jane’s story is one of resilience and dedication.

Tune in to hear West’s insights on how to survive as an entrepreneur and advocate in the cannabis space.

HITR #18: Solonje Burnett, The Weed Auntie

In this episode, KymB gets the “blunt” facts in a candid conversation with Solonje Burnett, the “Weed Auntie.”

Solonje is a trailblazing Brooklyn-based entrepreneur and activist in the cannabis space. As a two-time co-founder, first with Humble Bloom, and now as Chief Culture & Community Officer at Erven, Solonje shares her insights on how data and community-driven strategies are shaping the industry.

 

Solonje dives into her passion for self-care, mental health, and creating mindful moments, all while advocating for more diversity and inclusion. Tune in to hear how Solonje is leading the fight for cannabis by putting community first.

Photo by Mara Hoffman

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