Cannabis Industry Practice Group

WHO WE SERVE

Regardless of the stage of your company, the CFOs2GO partner team is exceptionally qualified to provide a bespoke professional service which addresses the challenges in the cannabis industry. Our team has the integrated experience and capability to successfully help clients develop their business and financial solutions. We serve clients throughout northern and southern California including the Humboldt, Mendocino, Sonoma, SF Bay Area, Santa Cruz, Salinas, Los Angeles, Sacramento, and the central valley. We also provide services in Reno and Oregon.

CAPABILITIES

The cannabis practice group provides a personalized approach to:

• Accounting services, either through oversight of existing staff, or providing CFOs2GO accountants to fill gaps in the existing finance and accounting team. A common first project is to clean up the books so they are ready to present to outside parties such as investors.
• Financial services, including budgeting, forecasting, financial planning and analysis, and cash management.
• Tax and audit support, including working with the company’s CPA and attorneys on corporate structure, 280E, 471C and other taxes related issues.
• Audit preparation for companies preparing to go public.
• Information systems including ERP assessment and implementation.
• Business development based on new applications from life science R&D, strategic partnerships, mergers and acquisitions, organic revenue growth strategies, and sales operational optimization.
• Strategic planning and talent acquisition to facilitate strategic thinking about the future of the business and to find the best people to hire to succeed.
• Revenue growth design including go to market strategy, branding, marketing, sales development, pricing and incentives
• Human resources design including executive compensation, benefits, incentive structures
• Business partner services, to ensure businesses have ideal relationships with attorney, bankers, auditors, and specialty service providers who can provide solutions specifically focused on client needs.
• Recruiting services for any finance and accounting position. With 35 years of experience in recruitment, we have a deep database of highly qualifiedaccountants, controllers, financial analysists, and CFOs who can join as full-time members of the team or part/full time contractors that you may need for special projects or to fill gaps in the organization.

SUCCESSFUL CLIENT ENGAGEMENTS

The cannabis practice group provides a personalized approach to:

• CFOs2GO helped a very rapidly growing cannabis manufacturer get the books accurate and current. The company had doubled in size every year for 3 years and the account staff was not experienced with rapid growth nor with the scale of the company. During our engagement to get the books accurate,we also helped recruit a permanent accounting and finance team and installed standard operating procedures to keep the books up to date. Later the company was able to use its financial statements in a large capital raise with sophisticated investors.
• A cultivation client with both indoor and mixed light facilities was preparing to go public through a reverse merger. The company needed two years of audited financials that adhered to IFRS standards. CFOs2GO put together a task force of audit and accounting professionals to document the historical financial performance of the company including necessary supporting documents despite the challenges of poor accounting practices and mostly cash transactions.
• A dispensary client secured a license for a new location but needed the capital for buildout, inventory, and working capital. CFOs2GO developed a financial forecast used to raise the necessary capital and to serve as a financials pathway to get the dispensary profitable

To find out more how CFOs2GO can help you with your financial services needs within the rapidly-expanding cannabis industry, contact us today on 925-299-4450.

PRACTICE LEADERS

John Beasley

Marc Loupé

Don Hawley

Joe Markunas

Chris Reynolds

Jess Gutierrez

Donna Hamlin

What to Expect From Our Team

John Beasley - "I’ve worked in multiple industries and in many early stage ventures from $0 to $100 million in revenue, but nothing is more exciting and rewarding than helping cannabis companies grow their business and position themselves for even greater success.

Marc Loupe - "I help vertically integrated/multi-entity cannabis companies improve their financial management practices, including GAAP compliance, finance personnel talent enhancements and implementing operational finance best practices."

Donna Hamlin – "I work with cannabis business executive teams to develop their strategic plans for smart, sustainable growth and the talent to deliver. Strategic thinking and competency is a team effort to dream and make that dream come true."

Joe Markunas - "Cannabis and its related products, industrial hemp and CBD, are witnessing unprecedented acceptance and growth that threatens to outpace the ability of growers and processors to keep pace. It is why my experience working with vertically integrated "seed to table" operators is an invaluable resource for my clients."

Mark Quesenberry - "I advise and build companies in emerging industries to successful growth paths, with expertise in go to market strategy, revenue growth, branding and marketing, sales development, pricing and incentivization."