This session is designed to showcase the professional team that cannabis businesses need to surround themselves with in order to truly run a successful operation.  Hear about the necessary interactions and cautions between legal and accounting issues which is imperative for practitioners to understand and respect.  Understand the role of each professional and how each supports each other in this highly complex, constantly evolving industry.  Hear stories from the trenches regarding the importance of working with industry experts.

The session will explore the unique nuances associated with the cannabis industry, including business and intellectual property appraisal challenges. Finding and applying market-based metrics in a rapidly evolving landscape will be contrasted with the use of forward-looking projections under an income approach to value. Jurisdictions like Colorado, Oregon and Washington are now considered to represent established markets versus emerging markets like Michigan, New Jersey and Florida where some are paying premium prices today for potential future opportunity. Lessons learned from Colorado will be highlighted. The session will also briefly explore the challenges of IRC 280E and where to find industry data and resources.

In this session you will learn about the intersection between taxes, accounting, IFRS vs. US GAAP, and complex business structures which make the cannabis industry ripe for fraud.  Identify red flags of fraud and trace cash flow through complex business entities to understand what to look for in areas of due diligence, investor education, and business structure assistance and set-up.