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Articles by GreenWave Advisors

One Step Forward On The Road To Federal Cannabis Reform

One Step Forward On The Road To Federal Cannabis Reform

The Cannabis Cash King: GTI's Secrets To Financial Success

The Cannabis Cash King: GTI's Secrets To Financial Success

Following Q2 earnings reports, the following comparison illustrates cash taxes paid as a percentage of Cash Flow from Operations (CFO) among several U.S. cannabis concerns.

Stirring The Pot In California: Historical Cannabis Sales $6B Lower Than Reported

Stirring The Pot In California: Historical Cannabis Sales $6B Lower Than Reported

Summary California retail cannabis sales (and total U.S.) are, in the aggregate, ~$6 billion less than what many industry observers, analysts (including us) and news media have reported (2018-2022). Our analysis was triggered by an added level of transparency that commenced in Q1:23 when excise tax reporting shifted from distributor to retailer.

Navigating Through The Potholes: U.S. Cannabis Retail Sales On Track For $100B

Navigating Through The Potholes: U.S. Cannabis Retail Sales On Track For $100B

Colorado, the first state to end cannabis prohibition and with nearly a decade of documented commerce, may well be regarded as the industry bellwether.

Will A Federal Excise Tax Replace Lost 280E Tax Revenues?

Will A Federal Excise Tax Replace Lost 280E Tax Revenues?

While the nature, extent and timing of U.S. cannabis policy reform remains in limbo, a federal excise tax is inevitable and with that (if not before) the elimination of the 280E tax burden.

Colorado's Medical Marijuana Market Takes Another Big Hit

Colorado's Medical Marijuana Market Takes Another Big Hit

For the third consecutive quarter, The Colorado Department of Revenue posted neg comps for cannabis both YoY and QoQ. Q1:22 results -41% med / -13% rec YoY and -23% med / -11% rec QoQ.

Will a Federal Excise Tax Replace Lost 280E Revenues?

Will a Federal Excise Tax Replace Lost 280E Revenues?

KEY POINTS: While the nature, extent and timing of U.S. cannabis policy reform remains in limbo, a federal excise tax is inevitable and with that (if not before) the elimination of the 280E tax burden.

Weeding Out The Illicit Market

Weeding Out The Illicit Market

The Cannabis Industry Is At An Inflection Point, Data Suggests

The Cannabis Industry Is At An Inflection Point, Data Suggests

KEY POINTS • Now on the cusp of federal reform (timing of which is unknown), the cannabis industry appears at an inflection point with the growth prospects and legitimacy we outlined in 2014 beginning to materialize.

"More" Tax Required To Rid The (IRS) Snake In The "Grass"

"More" Tax Required To Rid The (IRS) Snake In The "Grass"

TAKEAWAY: • With two full years of public company disclosures, we provide a detail analysis that suggests minimum federal excise tax of 10% upon the end of federal prohibition.

Cannabis In Congress: 'MORE' Is Less But Beware Of The Snake In The 'GRASS'

Cannabis In Congress: 'MORE' Is Less But Beware Of The Snake In The 'GRASS'

• The eventual passage of the MORE Act mitigates several operational risks for cannabis businesses that touch the plant. • The uncertainty around the timing of federal reform measures keeps valuations vulnerable to the impact of 280E as well as ongoing IRS scrutiny.