Sentences with phrase «cannabis companies because»
Banks and insurance companies refuse to do business with cannabis companies because marijuana is illegal under federal law and most financial institutions are federally insured, forcing marijuana businesses to operate in cash.
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Even though medical marijuana is legal in California, cannabis companies are still at risk of being shut down because the laws are still being developed.
While 30 percent of cannabis companies have a bank account, no cannabis company can accept debit or credit cards because companies like Visa and Mastercard will not give the industry merchant accounts until federal law changes.
Myclobutanil, a chemical that is also prohibited for use on legal cannabis in Colorado, Washington and Oregon because of health concerns, was found in product recently recalled by Mettrum Ltd., a Toronto - based medical marijuana company.
Although Terra Tech is looking to switch its seed from produce to cannabis wherever possible, Peterson says the company will still produce both because of the success of Edible Garden.
Because of state law variations regarding cannabis, some online business loan companies may not fund.
«With over $ 396 million in estimated U.S. retail sales, American companies making hemp products have no choice but to import their raw materials because our farmers continue to fear they will be prosecuted for growing hemp, due to an out of date federal «Reefer Madness» policy which confuses non-drug industrial hemp with drug varieties of Cannabis,» adds Bronner.