420Patients.com is accepting qualified medical marijuana patients and caregivers to join our network. We value every registered member and we hope to serve you in Arizona. This article brought to you by 420 community friends mmjbusinessdaily.com
Crowdfunding may not be the simple solution that cash-starved marijuana start-ups can turn to for funding.
In May, the Securities and Exchange Commission implemented new rules permitting small businesses to raise up to $1 million annually through crowdfunding.
The move was hailed in the cannabis sector as a major breakthrough that would help entrepreneurs raise capital from individuals at a time when many banks are leery of conducting business with marijuana companies.
But it may not be that easy. Just ask NextRX, a cannabis-related software firm that launched a fundraising campaign on May 16 through StartEngine Crowdfunding in