Medicine Man Technologies Inc (SHWZ)

[In Plain Sight]

Final thought. Does anyone here think those running the IRS after reading a headline that they have failed to collect $500MM as a good thing? Sometimes motivation finds you...

Ten Multistate Cannabis Companies Owe $500M To The IRS, Says A New Report
5:52 pm ET September 27, 2022 (Benzinga)
An analysis of financial filings by Green Market Report showed that ten publicly traded multistate cannabis companies are carrying over $500 million in federal tax debts.

The Multi-state operators (MSOs) are Acreage Holdings Inc. (OTC: ACRDF), Ascend Wellness Inc. (OTCQX: AAWH) (CSE: AAWH.U), Ayr Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF), Cresco Labs Inc. (OTCMKTS: CRLBF), Columbia Care Inc. (OTCMKTS: CCHWF), Curaleaf Holding Inc. (CSE: CURA) (OTCQX: CURLF), Green Thumb Industries Inc. (OTCQX: GTBIF) (CSE: GTII), TerrAscend Corp. (OTCQX: TRSSF) (CSE: TER), Trulieve Cannabis Corp. (OTCQX: TCNNF) (CSE: TRUL), and Verano Holdings (CSE: VRNO) (OTCQX: VRNOF).

How Much Do The MSOs Own?

All told, the MSOs mentioned above "owe the Internal Revenue Service an eye-popping $507,193,000, according to their second quarter financial reports," reported Green Market Report.

Additionally, Curaleaf and Verano, combined, owe the IRS $286 million. Both hold most of the tax debt. Verano Holdings owes $161.4 million, has $92.8 million cash on hand, thus, 78% more in taxes than the company had cash at the end of its second quarter.

“If the companies were forced to fully pay their federal tax bills, only one of the 10 – Green Thumb Industries – would have more than 10 months' worth of cash left with which to continue operating,” reads the report.