The indoor cannabis growth market sector is experiencing unprecedented growth. New licenses are being awarded in multiple states, and the industry’s expansion is destined to become nationally accepted. As the industry expands, new license holders find themselves toe to toe with Multi State Operators (MSO) competing for market share. While many license holders have seen unparalleled success, others have struggled to make it out of the gate. Understanding and accelerating your path to profitability is a critical learning that can make or break a business.
Check out this timely discussion with NgenX presented by Withum’s Cannabis Sector Services Team.
- Chuck Miller, CEO of NgenX Energy, will discuss technologies and approaches to rapidly bring product to market to assure license security – and potentially get to positive cash flow while orchestrating a full facility buildout in parallel. Taking a modular approach to production while eying expansion to maximum canopy takes a unique viewpoint.
- Martin Harski, Cost Segregation Principal and National Tax Service Group Member at Withum, will discuss cost segregation and how it applies to the cannabis industry. He will detail the benefits of cost segregation in helping to accelerate your depreciation deductions, thereby reducing your tax liabilities and increasing your cash flow.
- Cary Milstein, an early entrepreneur in the medical cannabis sector, and one of the first licensees to reach commercial operation in the state of Maryland, will discuss the hurdles faced in taking a cannabis operation from license through commercial operation. He will provide insights on pitfalls and mitigation strategies unique to the cannabis market.