“This book is an essential tool for every C Suite executive in the US Cannabis Industry – not just accounting and legal.  If you want to be fully prepared for the ever-changing landscape and structure of the US’s fastest growing sector – this book must be on your desk.  Personally, the first version prepared me for new CEO and Chairman roles and the volatility of the cannabis capital markets.  Now that we are seeing many young professionals transition to cannabis or a student starting their career in our industry - I highly recommend this book as a cornerstone of their learning.”

— Ross Bevevino, Chairman & CEO, Mollitiam New Jersey LLC

“From entity selection to fundraising to tax and accounting to valuation, The Cannabis Industry and Appraisal Guide is a useful and easy to read “must have” reference for those interested in the cannabis industry. Take it from someone who has been in the cannabis industry over ten years.”

— Tony Gallo, Managing Partner - Sapphire Risk Advisory Group

"Navigating the cannabis industry is like swimming with sharks. You have to know unique local, state, and national regulations. You have to ensure that your business is compliant at every turn. And one of the best ways to do this is to invest in a copy of The Cannabis Industry Accounting and Appraisal Guide. Be safe out there and rely on the expert advice of Seigneur, Clarke, and Udell."

— Rob Mejia, Teaching Specialist, Stockton University, Cannabis Studies 

“I am a licensed attorney who spends more than 75% of his practice on cannabis law:  from helping companies obtain licenses to operate cannabis businesses in State’s where it is legal to facilitating nine-figure sales transactions to participating in the inevitable rising crescendo of shareholder oppression lawsuits.  With the plethora of issues that arise in this burgeoning industry, I always have the Cannabis Industry Accounting and Appraisal Guide within arms-reach.  It is my go-to source whenever I need to educate a client on; reliable methods of appraising the value of a cannabis company, options to consider when deciding how to structure a development-stage cannabis enterprise, or accounting methods to consider.  I would recommend this book to anyone considering becoming involved in the growing United States legal cannabis industry.”

— Fruqan Mouzon, Esq., Partner, Fox Rothschild LLP

 “Anyone involved and especially new to the cannabis sector should have a copy of The Cannabis Industry Accounting and Appraisal Guide in their collection. In addition to covering accounting-related topics, it offers helpful information and resources on subjects unrelated to accounting, such as the industry's history, what makes it unique, and banking, all in an accessible way. It’s a go-to resource as I interact with clients.”

— Marshall Ogen, VP of Business Strategy, Cannabis BPO

As of first quarter 2021, 36 states have legalized medical use, and 16 states have legalized recreational use, meaning that a majority of Americans have access to marijuana, whether medically or recreationally. In fact, 95 percent of the U.S. population lives in a state with legal access to some form of cannabis, which includes the thirteen states where cannabinoid (CBD) oil is legal. A myriad of reforms and initiatives in the November 2020 election moved to enhance access and were generally met with approval at municipal and county levels in those states that already allow for medical and recreational access. These include increased access through home delivery, on-line ordering and curbside pick-up. The eventual lifting of the federal prohibition based on the Controlled Substances Act of 1970 will mean many producers no longer need to hide in the forest or in the basement of a rented home. In a post CSA landscape, competitive forces will continue to be front and center for many operators as state and local governments allow rapidly consolidating multi-state operators with access to sufficient capital to compete and grow on industrial-sized outdoor farms and, more importantly, to eventually engage in intrastate commerce.

With so many states legalizing various aspects of cannabis, it isn’t surprising that an Pew Research Center study conducted in September found that 67 percent of Americans feel cannabis should be legal, while 91 percent feel it should at least be legal for medicinal purposes. A decade ago, 32 percent of adults favored legalization and 60 percent opposed legalization. The legal, regulated side of the cannabis industry is a great example of how COVID-19 will bring about radical lasting change in how business generally is conducted. On-line ordering and curbside delivery protocols are part of a tidal wave of change allowing many cannabis retailers to be experiencing 2020 year to date sales well in excess of 2019 sales for another record setting year. Colorado, for example, reported its first month of regulated sales in excess of $200 million dollars for the month of July 2020. Moving the image of legal cannabis from illicit to essential has been huge and brought about changes that would not have happened nearly as quickly as they have in a post COVID-19 era.

The cannabis industry is booming, not only for the growers, producers, and sellers of cannabis but also for ancillary businesses such as software, lighting, packaging, security, growing products, accessories, and banking. Every type of cannabis business has unique characteristics that accountants and business appraisers should consider. For example, there is a growing amount of scrutiny related to the edibles segment concerning the consistency of portion potency, labeling, and related issues. There is also an increasing focus on the use of pesticides and fertilizers, resulting in the need for independent testing labs in support of the regulatory agencies that oversee license holders.