Cannabis News Box

Coronavirus stimulus money awarded to lucky few cannabis-related firms

Bethan Rose Jenkins, Cannabis News Writer/Editorial

July 29, 2020

As of June 5, 2020, the Internal Revenue Service (IRS) had distributed 159 million coronavirus stimulus payments among residents of the United States. The $2 trillion federally-funded stimulus package enabled qualifying Americans to receive a one-time payment of up to $1,200; mainly by direct deposi...

Major cannabis tech firm MassRoots is approved for $50,000 federal stimulus check

Bethan Rose Jenkins, Cannabis News Writer/Editorial

May 20, 2020

Founded in 2013, MassRoots is one of the most well-established businesses in the cannabis space. However, it's latest SEC filings indicate annual revenue below $1 million. To make matters worse, for the fiscal year 2018, MassRoots had a market cap of $833.5 and annual revenue of $19.60 k — demonstrati...

Paycheck Protection Program