NY Medical Marijuana Company Faces Tough Financial Time

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One of New York’s five licensed medical marijuana businesses that’s allowed to grow and distribute MMJ is having a tough time with its finances, which has led it to search for investors to help it recapitalize.

According to a report from Politico, the New York company, Bloomfield Industries, has skipped payments to vendors and is considering relocating its Long Island City cultivation operation. The company founder, Richard Yost, even asked that the state health department sign off on new owners taking over control of the firm, a request regulators are “reviewing.”

Company executives told Politico they’re confident that

NY Medical Marijuana Company Faces Tough Financial Time is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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