MGO CPA Talks Money and Positive Impact Through Capital

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

MGO is one of the fastest-growing professional financial services firms in the U.S. specializing in turning deep industry expertise into visionary solutions. It works with international clients to develop their businesses in multiple industries including biotech and life sciences, hospitality, healthcare, entertainment, technology, state and local government, real estate and construction, and cannabis. 

Honoring Equity, Environment, Education and More

Recently, MGO released its annual  Cannabis 50 report, which honors companies, organizations and individuals making a positive impact on the marijuana and hemp sectors. For 2020, the 50 honorees include individuals Jay-Z, Willie Nelson and Snoop Dogg, cannabis media platforms Leafly and Benzinga, established companies like Columbia Care, Curaleaf and Curio Wellness, as well as younger companies and brands such as AYR Strategies, Wyld and STIIIZY. 

The report contains five main sections: 

• Doing Well covers how entrepreneurs and organizations are expanding financial, operational and environmental horizons.
• Doing Good focuses on nonprofits, activists and others that are working toward undoing social harms, supporting sustainability and providing equitable opportunity.
• Knowledge is Power gets into the work of researchers and educators.
• All The Lights discusses how influencers use their platforms to move the industry forward.
• Money Talks highlights investors and the conversation around raising capital to support a growing industry.

Money Talks: Creative and Impactful Financial Strategies for Cannabis Companies will be the designated topic of discussion for the upcoming Benzinga conference on February 26. 

For Goodness' Sake

In the report, MGO makes sure to emphasize that Cannabis 50 is not a competition — there are no prizes, winners or losers — simply inspiring stories to move the industry forward. It also mentions that while several businesses are capable of earning their way onto the list year after year, MGO ensures that repeat honorees are featured for new successes for each nomination, allowing space for industry newcomers and underdogs. 

When asked about the importance of Cannabis 50, partner and head of Cannabis Practice at MGO Scott Hammon responded, "As the industry continues to evolve and mature, we believe it is important to celebrate those we see as working to build a strong, sustainable and responsible future for cannabis. We created Cannabis 50 to highlight individuals, companies, nonprofits and other organizations we see forging best practices and fighting the good fight."

The panel will include: 

• Doug Gordon, EVP & Head of LeafLink Financial
• Jennifer Dooley, CSO of Green Thumb Industries (GTI), who most recently raised $100 million from a single investor
• Sanjay Argawal, partner and head of MGO's Tax practice
• Spencer Israel, Benzinga editor and producer of PreMarket Prep, will moderate the panel discussion

Regarding what will be covered during the upcoming conference, Dooley comments, "The industry needs more meaningful access to capital to unleash the true economic and social growth potential." 

Gordon mentions that "Banks and traditional financial institutions have steered clear of providing any type of financing to cannabis operators to date. As a result, private commercial lenders have been the only available avenue for these businesses to obtain debt capital." 

Argawal states, "Strategic tax planning is one of the most impactful tools cannabis companies can deploy to minimize their tax burden, improve their bottom line and reinvest back into their business." He added, "There are many creative strategies that can be taken to reduce taxes — not having an adequate tax plan is essentially akin to leaving money on the table."

To access the panel discussion on February 26 from 11:40 a.m. to 12:10 p.m. EST, visit https://www.benzinga.com/events/cannabis/virtual/#reg-sec. 

To read more about Cannabis 50, check out this Benzinga article: https://www.benzinga.com/markets/cannabis/21/02/19751705/mgos-cannabis-50-highlights-the-best-in-the-cannabis-world-including-benzinga

For more info about MGO CPA visit https://www.mgocpa.com/.

Photo by Scott Graham

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.