Rainforest Scientific Signs New Marijuana Entrepreneur

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WA State liquor store licensee retains Rainforest Scientific to help open two new marijuana outlets.

James Hanika, Rainforest Scientific counsel, offered a friendly warning and invitation to pre-compliant marijuana operators, "The clock is running and the window is closing fast for coming out of the shadows and getting legal."

Rainforest Scientific announced today that it has contracted to assist a local liquor store licensee to open a recreational marijuana store and a separate medical marijuana (MMJ) dispensary.

Rainforest Scientific will assist with all of the tasks associated with state and local compliance and business administration for two stores, including formation of business entities, capitalization, cannabis-specific legal and accounting services, Washington State Liquor Control Board (WSLCB) application, collective garden parameters, zoning, site selection, landlord-tenant negotiations, planning department permitting, operation plans, security, point-of-sale solutions, policy and procedures manuals, hiring, inventory control, insurances, furniture and equipment, supplies, etc.

Pursuant to WA Initiative 502 and Washington Administrative Code 314-55, recreational marijuana licenses are issued by WSLCB, which begins accepting applications for 30 days on Nov. 18, 2013. The current WSLCB timetable calls for producers (growers) and processors (prepare/package) to commence operations on or after Jan. 1, 2014, and retailers (storefronts) to open on or after Mar. 1, 2014.

Chapter 69.51A Revised Code of Washington allows patients with medical recommendations to obtain cannabis for medical use from collective gardens (commonly known as access points or dispensaries).

In a major boost for marijuana entrepreneurs, U.S. Attorney General Eric Holder announced on Aug. 29, 2013, that the Dept. of Justice won’t interfere with state-compliant marijuana businesses.

http://kuow.org/post/feds-allow-washington-colorado-pot-legalization-caveats

"Our team estimates there are 1,000-1,500 pre-compliant marijuana businesses operating in rural Whatcom and Skagit Counties alone," commented Bill Norcross, CFO of Rainforest Scientific.

"We strongly encourage pre-compliant marijuana entrepreneurs to get legal as soon as possible in order to avoid federal cease-and-desist letters, smash-and-grab raids and prosecution as rules are concretized and law enforcement agencies start aggressively protecting compliant, tax paying operations by fiercely cracking down on black market competitors," Norcross added.

Norcross said, "State rules for recreational marijuana licenses are fairly well defined and generally stable, but state codes regulating medical marijuana are in flux for the next year or two. Most county and city ordinances are still in development which adds another layer of compliance and business planning challenges for both recreational and MMJ entrepreneurs.

"Despite the fireworks in this dynamic regulatory environment, opportunities abound in recreational marijuana and MMJ. We spend our days helping financiers and pre-compliant marijuana businesses find a path to full compliance with evolving state, county and municipal zoning, permitting and operational requirements."

Attorney James Hanika, Rainforest Scientific counsel, offered a friendly warning and invitation to pre-compliant operators in Washington, "The clock is running and the window is closing fast for coming out of the shadows and getting legal. It is a genuine pleasure to counsel families and extended family groups who hope to build legitimate financial security and comfortable lifestyles through responsible marijuana entrepreneurship.”

Norcross agreed, "It’s truly gratifying to play a small part in creating a sustainable and profitable win-win-win philosophy uniting operators, financiers and government in cooperative, bleeding edge public-private partnerships that acknowledge unintended adverse social consequences and concomitant responsibilities, yet fully embrace the social appropriateness of marijuana legalization and commercial legitimacy.”

Rainforest Scientific is a leading provider of mission-critical compliance programs and ancillary business administration services for pre-compliant marijuana businesses and financiers. Rainforest Scientific does not engage in the cultivation, manufacture or distribution of marijuana.

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Bill Norcross, CFO
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