Replies to post #4811 on GB Sciences Inc (GBLX)

[Ctrxman]

https://www.strictlybusinesslawblog.com/2011/08/04/there-is-no-such-thing-as-a-1099-employee/p
I hope the link works. The IRS has specific rules regarding independent contractors and penalties and back taxes apply if the rules are violated. I don’t understand th point of attempting to do this. It’s not like cash from operations just sits there and can’t be used because of the banking rules. If they chose to pay people in cash they could do that regardless of whether the get a 10999 or a W2 at the end of the year.

[LSU cajun]

Because the growers are a business, which makes them a contractor, you cant make an employee a contractor. So, why don't McDonalds, pay their employees as contractors, MCD are paid with cash too!
This will never happen , because its illegal, to try to make an employee a 1099 contractor.
Gblx needs to raise cash, I'm in for raising the shares, they have 250m now. They want 150m more, 400 m shares is nothing, check out some other pot companies their shares are in the Billions.