Page 1 - Cannabis News May 2019

MOSS, KRUSICK & CANNABIS
ASSOCIATES LLC SPOTLIGHT:
Accounting Advice Heather Schieferle
from Seed to Sale Preysz
Buds for Vets, Inc

page 52 page 53

MAY 2019

BioTrackTHC Provides Transparent, Customizable

Software Solutions for Business, Government Clients

BY VANESSA ORR tory is transformed into oil or another final prod-
uct,” he explained, adding that the technology
As the cannabis industry has evolved, so has was created by growers for growers.
the need for technology to keep track of every- “Our software is designed for the way that
thing from seed to sale. Depending on the state, growers think,” added Dr. Afaneh, who traveled to
the reporting requirements and the types of infor- Colorado to research the industry before launch-
mation that need to be kept can differ widely, ing the product. “We not only have a true insight
which is why it’s so important to have a secure, and understanding of the growing process itself,
comprehensive, customizable software product but also the regulatory side, compliance, enforce- Victoria Walker
to stay compliant. ment, and everything that goes into the business
BioTrackTHC offers cannabis licensees all of side of the license.”
this and more. For the past 10 years, the compa- The software program assigns a unique 16-digit Trulieve —
ny has been helping growers, manufacturers, and identifier to each plant or clone that records and
dispensaries track the lifecycle of each plant, sim- archives plant phases, additives and employee Providing
plifying record-keeping, and in turn optimizing Dr. Moe Afaneh interactions to ensure accountability. After the
future yields and sales. It also provides software plant is harvested, the batched material receives a
tracking solutions to government clients, ensuring that law new 16-digit identifier that contains the plant’s history since prop- Natural Relief
enforcement agencies can enforce requirements, collect taxes and agation. Test results, including potency, are automatically assigned
prevent illegal activities. and printed on product labels, and a detailed manifest is created BY DANIEL CASCIATO
before the product is transported, displaying the entire chain of
Business Solutions custody. Each sale is also tracked to the patient or customer. After it was awarded the first license in
According to BioTrackTHC COO Dr. Moe Afaneh, there are In addition to tracking the evolution of plant-to-product, the the state of Florida following Florida vot-
many advantages for businesses that use the software, which cov- software also helps growers improve their operations by providing ers’ supermajority approval of
ers cultivation operations, processing and manufacturing, and dis- comprehensive reports, data-driven marketing tools, and integrat- Amendment 2 in 2016, Trulieve immedi-
pensing at the point of sale. ed hardware for minimal data entry. ately hit the ground running and hasn’t
“Our flexible software accommodates all different types of Different states require different types of information, so the stopped.
workflows, tracking all seeds, clones and tissues until the inven- Continued on page 50 “Trulieve has a passion and responsibil-
ity to grow as quickly as possible which
has been our focus over the last three
Florida Law Firm Provides Guidance for Cannabis years,” says Victoria Walker, director of
marketing and community relations for
the medical marijuana company.
Companies to Navigate Regulatory Complexities Last month, Trulieve also became the
first in the state to sell smokable cannabis
legally. It will offer smokable flower buds
BY DANIEL CASCIATO “We advise clients on the wide range of legal,
business and public policy issues surrounding in several strains and plans to expand its
Tara L. Tedrow believes that Florida can be a the cannabis industry, as well as questions offerings to including pre-rolled marijua-
good model for emerging marijuana markets. about entity formation, supply agreements, na. Patients with smokable cannabis on
One of the reasons is that the robust regulatory investments, land use and permitting, environ- their recommendations will be allowed to
standards in place have helped minimize many mental compliance, regulatory compliance, be dispensed up to 2.5 oz every 35 days.
of the mistakes other states made in failing to intellectual property, real estate, employment In addition, patients with smokable
regulate more on the front end. contracts and policies, and non-disclosure and cannabis recommendations may possess
“Though the state’s delays in licensing new confidentiality issues,” she says. up to 4 oz of cannabis flower at one time.
companies has stymied the industry’s growth, Lowndes’ attorneys have handled hundreds The company has 1,500 employees ded-
Florida has also shown why ensuring strict of mergers and acquisitions, public offerings, icated to serving the patients of Florida.
standards for operating a business can better public debt placements, balance sheet and Walker notes that it provides the highest
protect product quality and patients,” says asset-based financings, and cross-border trans- quality medication backed by transparent
Tedrow, shareholder and chair of Cannabis & actions. Some have served as general counsel 3rd party lab reports.
Controlled Substances Group at Lowndes, a Tara L. Tedrow to public and private companies and many “We offer the most innovative and
large law firm headquartered in Orlando, FL. “I have appeared before administrative and regu- largest variety of medication to serve all
am hopeful that between Governor [Ron] DeSantis and FDACS latory agencies at local, state and federal levels. patient needs,” she says. “Patient access
Commissioner [Nicole] Fried, Florida will be one of the “Our team brings together a diverse group of lawyers to is critical which drives us to quickly
strongest cannabis markets in the U.S.” address many business issues in the medical cannabis indus- expand locations and offer next day
The Cannabis & Controlled Substances Group at Lowndes try,” says Tedrow. home delivery.”
provides support and guidance to companies, individuals, and Tedrow was first hired by one of the original medical mari- Its products are designed to alleviate
investors who are engaged in or considering entry into the juana licensees in Florida to assist in getting their dispensaries seizures, severe and persistent muscle
cannabis market. Clients of Tedrow’s firm include businesses approved statewide. From there, her career in medical marijua- spasms, pain, nausea, loss of appetite, and
involved in the cultivation, processing, distribution, and dis- na took off. other symptoms associated with serious
pensing of cannabis across the U.S. and abroad. Continued on page 49 medical conditions such as cancer. In
Continued on page 48