Crypto Cannabis Conference
Next to tax code 280E, banking is the biggest nightmare in the cannabis industry.
As banking is Federally regulated and cannabis is Federally illegal, the process of purchasing cannabis with electronic funds (credit cards) or paying bills by check provides the very transaction validation that is incriminating and critical to meet guidelines.
There are some financial institutions openly supporting the industry. In fact it my be punny to say the industry is half-banked. But each state has had different success in supporting the industry.
In this talk, I will explain the paradox of banking, why it works better on some states than others and some suggestions to work through and around the banking paradox.
“A free spirit” - says Mark Goldfogel’s mom.
Mark Goldfogel is a self-confessed nerd who published software at the age of 17. He has held management positions at John Deere Corporation and director positions at ADP before opening a technology consulting company in Telluride, Colorado. Mark co-founded MJ Freeway, the cannabis industry’s first “Seed to Sale” point of sale system and then went on to become CEO and co-founder of C4EverSystems, the industry’s first cash management system. Mark currently is EVP Industry Relations for The Fourth Corner Credit Union, the first state chartered institution whose field of membership includes a common interest in cannabis and hemp. Mark is dedicated to helping humanity understand the benefits and responsibilities associated with this important plant.
Mark Goldfogel was an original architect of Seed to Sale Tracking and founded and sold MJ Freeway and C4EverSystems, two technology startups in the cannabis sector. He twice has accomplished the most difficult feat in the industry, exit! He was also instrumental in The Fourth Corner Credit Union which is leading the legal fight to allow banking for the cannabis industry. He consults full time and has helped launch numerous startups as CEO of IWorkForCannabis.com.
MJW Enterprises 1985-1992. Technical Consulting, developing, and software training. Clients included ATT, Atari, Mikey Miller, David Pollock. Sole proprietor.
Wonder-Dog Corporation - 2002-2014. Technical Consulting. Telluride based high end technical consulting. Sold to support MJ Freeway.
Web-Dogs - 2006- sold 2010. WebDogs.com is a web development company that is now one of the leading companies in the heart of Silicon Valley. Sold to support MJ Freeway.
MJ Freeway 2010 - Current. Sold 33% founder equity in November 2013 to avoid personal bankruptcy. I maintain no equity or other interest or responsibility for this company.
C4EverSystems.com - 2013- Current. Sold founder equity in 2017. Banking hardware integration systems for the cannabis industry.
The Fourth Corner Credit Union. No Equity. First advisor, Executive Vice President. Leading the legal fight for banking in the cannabis industry as the senior advisor and plaintiff.
IWorkForCannabis.com - Cannabis industry consulting. Startup, equity-funding, debt-funding, mergers and acquisition, networking, advanced industry problem solving.
Of these companies...
I named all but one and renamed The Fourth Corner to 4CCU, which we will change when we win our court case and open. At that time, I will have named all of them.
Five of these businesses were able to get to cashflow positive without outside investors!
None of these businesses went bankrupt.
Four of these businesses are operational today. One hasn’t opened yet.
Three businesses represented cannabis industry firsts.
Business currently based in San Jose.
Mark GoldFogel can be reached at: [email protected]
Follow Mark GoldFogel on FaceBook: FaceBook.com/mark.goldfogel
Charles Alovisetti is a senior associate and co-chair of the corporate department at Vicente Sederberg LLC. Prior to joining Vicente Sederberg, Mr. Alovisetti worked as an associate in the New York offices of Latham & Watkins and Goodwin where his practice focused on representing private equity sponsors and their portfolio companies, as well as public companies, in a range of corporate transactions, including mergers, stock and asset acquisitions and divestitures, growth equity investments, venture capital investments, and debt financings. In addition, Mr. Alovisetti has experience counseling portfolio and emerging growth companies with respect to general corporate and commercial matters and all aspects of compensation arrangements, including executive employment and consulting agreements, stock option plans, restricted stock plans, bonus plans, and other management incentive arrangements. Mr. Alovisetti has experience in both U.S. and cross-border transactions, and has advised clients across a range of industries prior to focusing on the cannabis industry. In addition to his corporate work, Mr. Alovisetti has worked with clients on multiple licensing applications in Maryland, Hawaii, Texas, and Pennsylvania. He holds a Bachelor of Arts, with honors, from McGill University and a law degree from Columbia Law School, where he was a Harlan Fiske Stone Scholar. Mr. Alovisetti is admitted to practice in both Colorado and New York and is a Level One Interprener.
Charles Alovisetti can be reached at: [email protected]
Follow Charles Alovisetti on Twitter: @CAlovisetti
Rodman Law Group | Attorney At Law
Business, Cannabis, Cryptocurrency, Securities, IP Lawtherodmanlawgroup.com
Dave Rodman is a Colorado native and was lucky enough to grow up in Aspen. Mr. Rodman founded the Rodman Law Group in 2014 in response to what he saw as a lack of sophisticated corporate/business law firms (i.e. cannabis firms that didn’t grow out of criminal or public policy based practices) serving the cannabis industry, and has been tirelessly advocating for his clients, pushing for more equitable and transparent industry regulations, and facilitating complex multinational transactions ever since.
As an attorney with an extremely wide range of clientele, he has truly learned to expect the unexpected. Mr. Rodman’s unique background in finance, securities, intellectual property, and corporate law has given him an incredibly diverse set of tools to deploy on behalf of his clients. These skills coupled with the “unteachable” experience that can only be gained by successfully starting a company and nurturing it from a start-up all the way until it is profitable are what distinguishes Mr. Rodman from the average cannabis attorney. It is Mr. Rodman’s legal knowledge and his entrepreneurial spirit that allow him to craft optimal solutions to each client’s specific legal, business, and regulatory needs. Mr. Rodman does not believe in a “one size fits all” approach to the law.
Mr. Rodman has provided counsel to a broad range of clients including small businesses, large corporations, bars/night clubs, cannabis cultivators, manufacturers, and stores/dispensaries, industrial hemp ventures, international investment groups, musicians, private equity companies, music venues, cryptocurrency and blockchain projects, and venture capital firms. Mr. Rodman is licensed to practice law in Colorado and Washington State and advises clients all over the world, he currently has clients in Canada, Thailand, Singapore, Slovenia, and the Czech Republic.
David Rodman will be participating in the legal panel during CCC2017.
Cogent Law Group | Director, Fintech Legal Department
Adella Toulon-Foerster's experience with alternative currencies spans over 15 years. In 2000, She Co-Founded LongLever and built online gold-backed payment systems. She adopted bitcoin in 2012 and subsequently wrote her legal thesis on bitcoin. Adella currently spearheads the blockchain and crypto/virtual currency practice at the Cogent Law Group, LLP. Adella has consulted, written and spoken extensively on bitcoin and its possible uses for remittance and other markets. She is passionate about disruption and believes in a future where financial inclusion is the status quo. She attended the Nottingham Law School (UK) and George Washington University Law School.linkedin.com/in/adellatoulon
The Elephant And The Blind Men
Since it's inception and application, regulators have puzzled over how to treat bitcoin. The law was simply not built to handle the novel technology and, in the absence of applicable black letter and case law, various regulatory agencies have grappled with different interpretations. Thus, the current legal terrain can be difficult to navigate for actors engaged or invested in the virtual currency space. The new wave of "blockchain technology" has spawned interest from banking institutions and entrepreneurs alike. This presentation will briefly outline regulatory interpretation from finCEN, The IRS, the SEC, the CFTC and various State laws. It will examine the current legal climate: theDAO, Bitfinex and how alternative companies may legally utilize bitcoin.
PureVision Technology, Inc.
Carl Lehrburger, also known as Carell, is an environmental activist, renewable energy entrepreneur, researcher and author. He is a founder and an executive manager of PureVision Technology, Inc. and PureHemp Technology LLC. Since founding PureVision in 1992 with his brother Ed Lehrburger, PureVision has developed and is now advancing a breakthrough biorefining technology. Bear & Co. published his first book, Secrets of Ancient America in Dcember, 2014. Technologies for the Emerging Biorefinery Industry PureVision Technology, Inc. (“PureVision”) has developed and is commercializing a breakthrough technology that makes biorefining economical, faster, and more environmentally friendly. PureVision’s biorefining process converts biomass (renewable non-food plants like wheat straw, corn stalks and industrial hemp) into value-added products and commodities. Since 1999, PureVision has developed and patented technologies using its Continuous Countercurrent Reactor (CCR) equipment (referred to as “the PureVision Technology”) to rapidly convert non-food biomass into three primary value-added products: 1) Pulp for producing a wide variety of personal care, building, and paper products; 2) Lignin to produce chemicals, adhesives, coatings, composites, and plastics; and 3) Sugars for producing nutritional supplements, sweeteners, beverages, chemicals, and plastics.
Cannabis Compliance Issues.
The multifaceted cannabis plant will be presented in the context of the rapidly changing and many, often conflicting FDA, DEA and state laws relating to industrial hemp products and extracts (CBD), medical and recreational marijuana and their derivatives.
Founder and President, BitAML, Inc.
Joe is an accomplished AML compliance expert and has spent the last several years building, developing and implementing successful AML compliance programs for both financial and non-financial institutions. Prior to launching BitAML, Joe was a founding member and architect of the BSA/AML program of a top 100 U.S.-based financial institution. He also served as a project manager for a top 20 global bank, where he led several regulatory and audit remediation projects, and consulted on the enhancement of existing documentation and record retention. Before entering the field of BSA/AML, Joe held leadership positions within various risk management disciplines, including vendor due diligence, fraud prevention, and corporate investigations. He is co-founder of Illinois State University’s bitcoin club, provides pro bono financial regulatory advisory services to Rotary International service projects, and is a passionate advocate of digital currency and access to financial services for the unbanked. Joe is a Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), and Anti-Money Laundering Certified Associate (AMLCA). He graduated from Northeastern University, College of Criminal Justice in his hometown of Boston, Massachusetts.
Why banks are high on compliance, and you should be too.
Can’t get banked? Lost your bank account? Yup, it’s AML alright. For legalized marijuana, like bitcoin companies, it’s becoming more and more difficult to find a bank willing to talk, let alone establish a sustainable banking relationship. Government regulators continue to raise the bar on AML and consumer protection, applying pressure on traditional and non-traditional financial institutions. We’ll examine the strategies deployed by banks to “de-risk” cannabis companies, and the compliance counter-measures you can deploy. Our discussion will conclude with a detailed examination of bitcoin as a potential solution.
Grow Hemp Colorado
GrowHempColorado.com was created in 2014 with the sole purpose to provide a online source of information on Hemp Farming, laws, rules and regulations for the state of Colorado. Since then we have expanded to many more free services and will be adding a members only section this coming year.
You can contact us at 720.401.5609 (text message friendly)
Veronica Carpio is the owner of Hemp Coffee & ColoradoHempCoffee.com & GrowHempColorado.com; Co-founder of Hempslist (Hempslist.org), and 1620 Solutions (1620Solutions.com) and is a veteran of the cannabis industry who has played a vital role in the development of the hemp industry in Colorado and has assisted other states in the US.
She has since developed her own specific hemp cultivar 'Colorado Star' which exhibited unique phenotypes previously unseen in the US which helped accelerate the availability of CBD products into the Market. Veronica's experience in both the marijuana and hemp industry has played a vital role in helping law makers and lawyers alike to define and refine the ever-changing legal landscape for hemp farmers and she would like to share her innovative crypto-currency based solutions that are currently available to help overcome the on-going financial censorship which the industry faces.
Veronica's experience in both the marijuana and hemp industry has played a vital role in helping law makers and lawyers alike to define and refine the ever-changing legal landscape for hemp farmers and she would like to share her innovative crypto-currency based solutions that are currently available to help overcome the on-going financial censorship which the industry faces.
Evolutionary Processing Solution using Bitcoin
1620Solutions makes accepting Online Payments using Bitcoin (aka Cryptocurrency) payments a simplified and secure process. Payments made using Bitcoin for your goods or services are automatically "exchanged" into receivership denominated in US dollars, and then transferred from your Bitcoin wallet (mobile or web based options) to our customized physical plastic (not hemp plastic yet!) Visa credit card that can be used anywhere Visa cards are accepted.
I’m a Biodynamic farmer with experience growing hemp, I will be cultivating my first hemp monoculture in Colorado in 2016. Canncon Presenter
Organizer & Presenter "Financial Censorship in Cannabis & The BitCoin Solution" 2nd Annual Hemp Awards
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