Now, 3% doesn't sound like a ton, but it does represent nearly $5M of additional revenue that distressed AUCCs and AUCPs didn't have before. With 141 Cannabis Growers' Showcases that generated 3% of the total $150M revenue of the state, the OCM has indicated that, at this time, there are no plans to extend that CGS program. I received this in a communication today from the Office of Cannabis Management. "Pursuant to CGS Guidance, The Cannabis Growers Showcase initiative was set to expire on January 1, 2024. No CGS events can be held after January 1, 2024. No CGS events have been approved to take place past December 31, 2023, and at this time, there are no plans to extend the CGS initiative." CAURDs can proceed with opening their stores and are encouraged to do so quickly. With over 6,900 applications received in the GA window last year and 4,300 of those cannabis retail dispensaries, the chances for new applicants fall somewhere between 12-23% depending on the potential cap of AURD licenses landing between 500-1,000 licenses issued - an extensive range of potential licenses being rolled out. Non-provisional applicants can expect a response on their application(s) at literally any time and have been instructed by the OCM last year to keep an eye on their inbox/spam. One thing for certain, is that the large-scale rollout of cannabis retail dispensaries in New York is going to take months, likely years, to occur. Barring the "hurry-up and wait" mentality, me and the CannDelta team are still very bullish on this market and very excited about what 2024 is going to bring to it. When applicants *do* receive their communication from the OCM that they won a license and have 30 days to cure, this is when the real work begins. Setting up operations, implementing the right software, integrating compliant security features and operating procedures and doing this on a boot-strapped budget is where CannDelta brings value - not just for retailers but for cultivators and processors or testing labs. If you have questions about how we are a valuable and cost-effective driver, coach, and consulting group to get you up and running faster, DM me. I'd be happy to let you know about what we can do to help. We helped over 150 cannabis retail dispensaries open in the last five years. We've learned about what works and what doesn't.

Posted by Lucas McCann at 2024-01-15 02:59:43 UTC