Reuters: Marijuana firms in cloudy haze over banking woes

Reuters: Marijuana firms in cloudy haze over banking woes
December 29, 2017 Kyle Porter
In News Articles

CMW Client Medical Marijuana, Inc. was included in Reuters coverage of banking woes in the cannabis industry:

“Most marijuana companies have a courier service, or a Brinks truck, or a big wheelbarrow full of cash that they send to the Internal Revenue Service to pay their taxes,” says Stuart Titus, CEO of California-based Medical Marijuana Inc (MJNA.PK).

With an estimated 165,000 to 230,000 full and part-time workers, according to Marijuana Business Daily, many marijuana business owners pay their employees in cash.

“It is basically a kind of underground, cash-based economy,” said Titus.

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