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Washington's Cannabis Market: What Investors, Entrepreneurs Need To Know


The state of Washington has a booming cannabis market. It s among the most mature in the country, and sales continue to rise.
That said, market concerns remain and range from excise taxes to a lack of diversity. If the state intends to continue moving forward, these issues need to be addressed.
Washington s Market Booms As Population Increases
Washington legalized cannabis in 2012, setting an example for how the industry can put tax dollars into the state’s coffers. In 2020, the state earned $469 million in revenue.
In 2019, the state generated $395.5 million in revenue and licensing fees. All but $5.2 million came from excise taxes, which are among the highest in the nation. ....

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Kiaro Reports 230% Increase in Revenue in Fiscal Year 2021


Kiaro Reports 230% Increase in Revenue in Fiscal Year 2021
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Record revenues of $17.1 million for fiscal year 2021, an increase of 230%, compared to $5.2 million the year prior
Same store sales increase of 58% year over year
Gross margin of 38.1% for the retail operations during fiscal year 2021 compared to 35% the prior year
General and administrative expense for fiscal year 2021 substantially decreased to 12% of revenue compared to 61% in the prior year
Total HQ salaries decreased to 10% of revenue compared to 46% in the prior year
Convertible debt and accrued interest of $6.5M converted to equity and settlement of $1.75M in promissory notes in fiscal year 2021, leaving only $895K in total principal debt remaining ....

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