47 unchanged sentences
Because cannabis is a Schedule I controlled substance, however, the development of a legal cannabis industry under the laws of these states conflicts with the CSA, which makes cannabis use and possession illegal on a national level.
−Removed: The United States Supreme Court has confirmed that the federal government has the right to regulate and criminalize cannabis, including for medical purposes, and that federal law criminalizing the use of cannabis preempts state laws that legalize its use.
+Added: The United States Supreme Court has confirmed that the federal government has
+Added: the right to regulate and criminalize cannabis, including for medical purposes, and that federal law criminalizing the use of cannabis preempts state laws that legalize its use.
We would likely be unable to execute our business plan if the federal government were to strictly enforce federal law regarding cannabis.
4 unchanged sentences
Congress previously enacted an omnibus spending bill that included a provision (the “Rohrabacher-Blumenauer Amendment”) prohibiting the DOJ from using funds to prevent states with medical cannabis laws from implementing such laws.
−Removed: This provision is renewed annually by Congress and is current through March 11, 2022.
+Added: This provision is renewed annually by Congress and is current through September 30, 2023.
In August 2016, a Ninth Circuit federal appeals court ruled in United States v.
9 unchanged sentences
In particular, Mr.
−Removed: Sessions stated that “prosecutors should follow the well-established principles that govern all federal prosecutions,” which require “federal prosecutors deciding which cases to prosecute to weigh all relevant considerations, including federal law enforcement priorities set by the Attorney General, the seriousness of the crime, the deterrent effect of criminal prosecution, and the cumulative impact of particular crimes on the community.” The Sessions Memo went on to
−Removed: state that given the DOJ’s well-established general principles, “previous nationwide guidance specific to marijuana is unnecessary and is rescinded, effective immediately.”
+Added: Sessions stated that “prosecutors should follow the well-established principles that govern all federal prosecutions,” which require “federal prosecutors deciding which cases to prosecute to weigh all relevant considerations, including federal law enforcement priorities set by the Attorney General, the seriousness of the crime, the deterrent effect of criminal prosecution, and the cumulative impact of particular crimes on the community.” The Sessions Memo went on to state that given the DOJ’s well-established general principles, “previous nationwide guidance specific to marijuana is unnecessary and is rescinded, effective immediately.”
In response to the Sessions Memo, U.S.
5 unchanged sentences
however, this has not yet occurred.
−Removed: Any significant change in the federal government’s enforcement policy with respect to current federal laws applicable to cannabis could cause significant financial damage to us.
+Added: Any significant
+Added: change in the federal government’s enforcement policy with respect to current federal laws applicable to cannabis could cause significant financial damage to us.
We may be irreparably harmed by a change in enforcement policies of the federal government depending on the nature of such change.
15 unchanged sentences
If some or all of these regulations are imposed, the impact they would have on the cannabis industry is unknown, including what costs, requirements and possible prohibitions may be enforced.
−Removed: If we are unable to
−Removed: comply with the regulations or registration as prescribed by the FDA it may have an adverse effect on our business, operating results, and financial condition.
+Added: If we are unable to comply with the regulations or registration as prescribed by the FDA it may have an adverse effect on our business, operating results, and financial condition.
Any potential growth in the cannabis industry continues to be subject to new and changing state and local laws and regulations.
3 unchanged sentences
Violations of applicable laws, or allegations of such violations, could disrupt our business and result in a material adverse effect on our operations.
−Removed: We cannot predict the nature of any future laws, regulations, interpretations, or applications, and it is possible that regulations may be enacted in the future that will have be material adverse effects on our business.
+Added: We cannot predict the nature of any
+Added: future laws, regulations, interpretations, or applications, and it is possible that regulations may be enacted in the future that will have be material adverse effects on our business.
Our business, results of operations and financial condition may be adversely affected by pandemic infectious diseases, particularly COVID-19.
20 unchanged sentences
Future research reports, findings, regulatory proceedings, litigation, media attention or other publicity that are perceived as less favorable than, or that question, earlier research reports, findings or publicity could have a material adverse effect on the demand for our products and our business, results of operations, financial condition, and cash flows.
−Removed: Dependence upon consumer perceptions means that adverse scientific research reports, findings, regulatory proceedings, litigation, media
−Removed: attention or other publicity, regardless of accuracy or merit, could have a material adverse effect on our business and results of operations.
+Added: Dependence upon consumer perceptions means that adverse scientific research reports, findings, regulatory proceedings, litigation, media attention or other publicity, regardless of accuracy or merit, could have a material adverse effect on our business and results of operations.
Further, adverse publicity reports or other media attention regarding the safety, efficacy, and quality of recreational cannabis in general, or our products specifically, or associating the consumption of recreational cannabis with illness or other negative effects or events, could have such a material adverse effect.
33 unchanged sentences
To execute on our business plan, we will need additional capital.
−Removed: However, there can be no assurance that we will be able to obtain financing on agreeable terms, if at all, and any future sale of our equity securities will dilute the ownership of our existing stockholders and could be at prices substantially below the price of the shares of common stock sold in the past.
+Added: However, there can be no assurance that we will be able to obtain financing on agreeable terms, if at all, and any future sale of our equity securities will dilute the ownership of our existing stockholders and could be at prices substantially below the price of the shares of Common Stock sold in
If we are unable to obtain the necessary capital, we may need to delay the implementation of or curtail our business plan.
16 unchanged sentences
In addition, burdensome regulation at the state level could slow or stop further development of the medical-use cannabis industry, such as limiting the medical conditions for which medical cannabis can be recommended by physicians for treatment, restricting the form in which medical cannabis can be consumed, imposing significant registration requirements on physicians and patients or imposing significant taxes on the growth, processing and/or retail sales of cannabis, which could have the impact of dampening growth of the cannabis industry and making it difficult for cannabis businesses, including our tenants, to operate profitably in those states.
−Removed: these factors could slow or halt additional legislative authorization of cannabis, which could harm our results of operations, business, and prospects.
+Added: Any one of these factors could slow or halt additional legislative authorization of cannabis, which could harm our results of operations, business, and prospects.
Applicable state laws may prevent us from maximizing our potential income.
32 unchanged sentences
Prior to the DOJ’s announcement in January 2018 of the rescission of the Cole Memo and related memoranda, supplemental guidance from the DOJ directed federal prosecutors to consider the federal enforcement priorities enumerated in the Cole Memo when determining whether to charge institutions or individuals with any of the financial crimes described above based upon cannabis-related activity.
−Removed: It is unclear what impact the recent rescission of the “Cole Memo” will have, but federal prosecutors may increase enforcement activities against institutions or individuals that are conducting financial transactions related to cannabis activities.
+Added: It is unclear what impact the recent rescission of the “Cole Memo” will have, but federal prosecutors may increase enforcement activities against institutions or individuals that are conducting
+Added: financial transactions related to cannabis activities.
The increased uncertainty surrounding financial transactions related to cannabis activities may also result in financial institutions discontinuing services to the cannabis industry.
20 unchanged sentences
These suppliers could fail to produce products to our specifications or quality standards and may not deliver units on a timely basis.
−Removed: Any changes in our suppliers to resolve production issues could disrupt our ability to
−Removed: fulfill orders.
+Added: Any changes in our suppliers to resolve production issues could disrupt our ability to fulfill orders.
Any changes in our suppliers to resolve production issues could also disrupt our business due to delays in finding new suppliers.
24 unchanged sentences
If we fail to adequately assess and identify cybersecurity risks associated with our business operations, we may become increasingly vulnerable to such risks.
−Removed: Even the most well protected information, networks, systems, and facilities remain potentially vulnerable because the techniques used in such attempted security breaches evolve and generally are not
−Removed: recognized until launched against a target, and in some cases are designed not to be detected and, in fact, may not be detected.
+Added: Even the most well protected information, networks, systems, and facilities remain potentially vulnerable because the techniques used in such attempted security breaches evolve and generally are not recognized until launched against a target, and in some cases are designed not to be detected and, in fact, may not be detected.
Accordingly, we, our customers and our suppliers may be unable to anticipate these techniques or to implement adequate security barriers or other preventative measures, and thus it is impossible for us, our customers, and our suppliers to entirely mitigate this risk.
12 unchanged sentences
The market price of our Common Stock has been, and may in the future, be volatile.
−Removed: Between January 1, 2015, and December 31, 2021, the closing price of our stock has ranged from a low of $0.22 per share to a high of $10.35 per share.
+Added: Between January 1, 2015, and December 31, 2022, the closing price of our Common Stock has ranged from a low of $ 0.12 per share to a high of $10.35 per share.
Accordingly, it is difficult to forecast the future performance of our Common Stock.
22 unchanged sentences
there is no indication that this proscription will change any time soon.
+Added: Accordingly, we continue to be listed on the OTCQB, which as an over-the-counter market, is subject to greater volatility and less stability than would be the case on a national securities exchange.
Our existing operations, and any future operations or investments, may become the subject of heightened scrutiny by clearing houses and stock exchanges, in addition to regulators and other authorities in the United States.
15 unchanged sentences
A broker/dealer must also provide monthly account statements showing the market value of each penny stock held in a customer’s account.
−Removed: The bid and offer quotations, and the
−Removed: broker/dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer’s confirmation.
+Added: The bid and offer quotations, and the broker/dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer’s confirmation.
Our securities have in the past constituted “penny stock” within the meaning of the rules.
20 unchanged sentences
Despite our efforts, there is a risk that we will not be able to conclude, within the prescribed timeframe or at all, that our internal control over financial reporting is effective as required by Section 404.
−Removed: If we identify one or more material weaknesses in our internal control over financial reporting,
−Removed: it could result in an adverse reaction in the financial markets due to a loss of confidence in the reliability of our financial statements.
+Added: If we identify one or more material weaknesses in our internal control over financial reporting, it could result in an adverse reaction in the financial markets due to a loss of confidence in the reliability of our financial statements.
UNRESOLVED STAFF COMMENTS.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.