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Marijuana Fintech Co. POSaBIT Reports 67% YoY Drop In Q1 Revenue, Renews Focus On Sustainable Profitability And Growth

By Jelena Martinovic
June 14, 9:13 AM
Cannabis-focused provider of payments infrastructure POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) announced on Thursday its financial results for the three months ended March 31, 2024.The company reported a 67% year-over-year drop in revenue to $33.8 million in the first quarter. Ryan Hamlin, co-founder and CEO of POSaBIT, said the company faced "market challenges" with its payments business at the end of 2023 and in early 2024.

CSE:PBIT

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3 minute read

New Leaders Of NY Cannabis Reg Body And Recent Industry Appointments You Need To Know About

By Jelena Martinovic
June 12, 9:47 PM
Chris Alexander, the former head of the New York Office of Cannabis Management (OCM), resigned in May. Gov. Kathy Hochul first announced that Alexander's contract would not be renewed following its end in September. As Green Market Report's John Schroyer highlighted, the governor on Monday announced three new experts to lead the agency.S3 Collective has formed its governmental advisory committee (GAC).

CANQF

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2 minute read

Cannabis Products To Try This Summer, Here’s What Tilray Has In Store

By Jelena Martinovic
June 12, 12:50 PM
Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY) announced on Wednesday the Good Supply launch of its 'Summer Shareability' campaign. The Canadian cannabis giant said "The brand is putting their most shareable and convenient formats front and center, along with exciting flavors that are perfect for any warm weather gathering," to celebrate the summer months.

TLRY

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California Cannabis Co. Launches TikTok Shop, Wants A Share Of Billion-Dollar Marketplace

By Jelena Martinovic
June 12, 11:20 AM
California-based cannabis producer and distributor Rodedawg International Industries, Inc. (OTC: RWGI), announced on Wednesday the launch of its own TikTok Shop. The move came nearly two years after the company acquired Tree Moguls, a premium cannabis lifestyle brand based in Southern California.The company said the move is aimed at leveraging the e-commerce potential of TikTok, considering that it has over 1 billion active users worldwide. Moreover, an analyst from Statista now predicts that e-commerce sales on TikTok Shop are projected to reach $11 billion by the end of 2024, the company said in a press release.

RWGI