How things are going in NY cannabis as of Aug. 7, 2023.

My monthly Twitter thread, in LinkedIn form:

Here's how things are going in NY cannabis as of Aug. 7, 2023.

1. At this point, there should have been at least 160 CAURD stores open across NYS, according to Gov. Kathy Hochul in an October interview. There are 21, with four serving as delivery-only locations.

2. As of its last meeting, the Cannabis Control Board has awarded, in total:

• 463 CAURD licenses
• 280 AUCC licenses
• 40 AUCP licenses
• 15 lab permits
• 11 sampling firm approvals.

3. The big news from that meeting was the huge expansion (again) of the CAURD program. Here's what industry stakeholders are saying.

4. After CAURD licensees and other interested parties publicly decried CCB member Reuben McDaniel's alleged conflicts of interest, McDaniel resigned from his position on the board. He was replaced by Hope Knight, CEO and Commissioner of Empire State Development.

5. Chicago Atlantic funded the $200M social equity fund in June. However, details are still sparse.

6. There are also few if any details about DASNY's new $5 million loan program offering up to $100,000 for CAURD holders who opt out of turnkey storefronts.

7. In late May, the OCM announced a plan to allow conditional cultivators and retailers to organize and sell weed at "Growers Showcases" this summer. The rules came out in July. I hear a few are in the works, but so far, none have taken place.

8. Lawsuits are piling up. The OCM/CCB was recently sued by a group of veterans who claim the state changed the MRTA to prioritize those with past marijuana convictions.

9. And, they were sued on Friday by the Hemp Beverage Alliance and others over the recent ban on certain hemp-derived drinks. Here's the move that drew the lawsuit.

10. Those who went through the Cannabis Compliance Training & Mentorship Program are questioning its value as there is no defined on ramp for these folks into the legal market after they 'graduate.'

11. It's going to be a loooong time until NYS meets its own tax projections for the cannabis industry.

12. Despite the fanfare around a crackdown on unlicensed shops, it doesn't seem the state is making much of a dent in that side of the marketplace. Though, they may be setting themselves up for more lawsuits due to allegations of Constitutional overreach.

13. The New York City Economic Development Corporation announced in mid-July that it will launch a loan fund – to which it will contribute $8 million – for licensed cannabis businesses in the city. They're in the RFP process now.

14. Despite depressing conditions in the marketplace, a (unscientific) survey I conducted found the vast majority of AUCCs plan to plant again this year -- though some plan to scale back.

15. The NY legislature passed a bill allowing AUCCs to sell stockpiled cannabis to tribal nations. The governor still has not signed the bill. It's doubtful she will. We'll be discussing this and other tribal issues at our NYC event on Aug. 15.

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