Salt Lake Tribune article from February 27, 2017, and last updated February 28, 2017, says that lawmakers in Utah are starting to create a road map to legalize marijuana.
From the article it seems there's a bipartisan move to start the process of legalizing marijuana in Utah.
"..."This is a road map leading to medical marijuana," said Sen. Jim Dabakis, D-Salt Lake City. "We are getting it set up, getting it ready. And all we have to do then is have a quick vote — and we'll have the legal structure" to accommodate prescription pot.
The bill's sponsor, Sen. Evan Vickers, R-Cedar City, a pharmacist, agreed. "It does create the pattern on how the state would handle it, if and when a [legalized medical marijuana] policy is adopted." ..."
Just like in other "MJ States", it opens the door to reviving companies and giving new revenue streams. For $CFGX, this would open the door to financing the MJ industry in Utah.
Also from that same article:
"... Vickers said the state Department of Agriculture would oversee cultivation, including "the number of cultivators, processors and labs depending on the population and number of registered patients." A separate license would be required for each location, and financial backing and security would be mandated.
Vickers said he has had trouble figuring how to handle banking for those handling medical marijuana. Because it is still a class 1 narcotic, medical marijuana firms cannot use federally insured banks without breaking federal law.
He [Vickers] said the bill leaves this issue to the Utah Department of Finance to seek a solution. If one is not found, the businesses would need to operate on a cash-only basis. "That creates some inherent problems of its own," Vickers said. "There's some opportunity for crimes there." ..."
A change in direction for $CFGX was written in their 3Q2016 filing.
"... This departure marks a significant change to the business model of the Company and casts further doubt on its ability to remain solvent absent a compensating directional change in its business model. ..."
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