Blum Holdings Inc (BLMH)

[MonestHind]

••NEWS••SF WEEKLY: IVXX TO REMAIN A NON-PROFIT

Be careful folks. Bagholder stocks are subject to a lot of fabricated hype.

Here's another source indicating IVXX will remain not-for-profit through 2016 and likely until 2018, according to the language in the bill (ouch).

Nothing happens quickly when it comes to government: Don't be fooled by claims that IVXX's status as a not-for-profit changes in "Jan. 2016." It's simply not true.

"Under current regulations, cannabis dispensaries must be nonprofit collectives or cooperatives. Under the MMSRA, a cannabis business can be a nonprofit — or an LLC or a corporation, which can turn profits.

Profit will have to wait until state licenses are issued [likely 2018, according to the language in the bill], but profit will no longer be a reason for law enforcement raids (at least from state cops)."

http://m.sfweekly.com/sanfrancisco/news-marijuana-medical-marijuana-medical-cannabis-cannabis-california-cannabis-industry-association-ab-266-sb-643-rob-bonta-jerry-bro/Content?oid=4160490