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Was discussing this topic with a friend in the US just last week. Legalization in some US States but profits may come under the RICO Act until Federal Legalization. If you’re an American or travel to the US due your own due diligence.
This is a Canadian Play…as are the others WEED OGI APH etc.
Nothing to do with the USA.
Legalization on July 1 2018 ( Canada Day)
Profits may become marked and fall under RICO so if you make a profit in Washington, Oregon, Canada, etc. the money when moved across state lines falls under the RICO Act. If you can’t move your profits say out of Oregon to another state for instance what’s the point? Basically any profits may need to be isolated too that jurisdiction. The gentleman I was talking with has plenty of well payed lawyers and accountants. Other opinions may differ. Ask the IRS lol.
Red Label…I regret to inform you that Canada is . contrary to popular opinion in the US …NOT a State !
it actually is its own separate country.
These Pot Companies are selling only in Canada eh ?
RICO shmico…does not apply.
These things are trading on the Potential Canadian Market only !
Exactly why they are CDN that’s my point. And when you go on vacation to Florida with a big wad of cash hopefully it’s not from gardening.
Sorry Red…I don’t see the logic here.
These Companies are Canadian listed . The fact that they are making money ( eventually ) on a business that sells a product that is not legal in the US …so what
So are you saying that if an American Investor makes a capitol gain in WEED …his money will be confiscated and he could be jailed under RICO?….I don’t buy that !!
You are saying that if a Canadian crossed the border with a wad of cash he needs to prove it didn’t come from selling marijuana ?
Well those who are profiting from this business….are share holders ( and employees )
Employees are not paid in cash !
we are still not on the same page.
I am saying these companies are trading ONLY on the merits of future profite in a HUGE new industry that has never existed before
The Canadian Government has already chachinged the taxes they will get from this industry…every body is happy….even the customers !
🙂
I agree profits are huge. I wouldn’t want to be up against the IRS I assume it would be like fighting the Fed?
The gentleman I discussed this with was a Canadian living in California looking to invest in Washington state. His lawyer apparently told him don’t be the IRS testing grounds. The burden of proof would be his too prove the money didn’t cross state lines that’s federal jurisdiction. Even between states that have legalized say between Oregon and Washington state. So if the money can’t cross state lines legally and you’re put under the spotlight of the IRS.
These stocks are going to da moon eventually when this gets sorted out.
A Medical grow here in BC is owned by a company out of Seattle which is owned by a founder of an online banking company we all know. How he does it I’m not sure but that’s a banker?