Licensed Assets Management Company, LLC "LAMCO" is a driven organization which concentrates in investing only in Legal Medical / Recreational Cannabis licenses and businesses. 

                                 "The Cannabis Business is the fastest growing industry in the United States"


"Best in class Cultivation Facilities"

"Best in class Cultivation Facilities"


Licensed, compliant, and regulated facilities is all we invest; we build and design the facilities by obtaining licenses to cultivate. With our group of experienced master growers we can take over a existing cultivation site or build and operate it.

"Best in Class Dispensary Brands"

"Best in Class Dispensary Brands"


We have extensive experience in retail services in which retail in this industry is key. Dispensaries allow us to sell our own product that we grow and distribute to the public. This leads to greater margins and return in investment.

"Best in class extraction / manufacturing facilities"

"Best in class extraction / manufacturing facilities"


We invest in existing or new manufacturing facilities for extraction of THC / CBD concentrates. This allow us to be a vertically integrated company allowing us to enter the industry in every angle.


Cannabis has shown and proven to heal patients on some conditions by helping them get off pharmaceutical products and just rely on natural cannabis products.

Cannabis has shown and proven to heal patients on some conditions by helping them get off pharmaceutical products and just rely on natural cannabis products.


I’m here to apologize. For 3,000 years marijuana was a legitimate medicine. The science is there. This isn’t anecdotal. We have been terribly and systematically misled for 70 years in the United States. It doesn’t have a high potential for abuse, and there are legit medical applications.
I apologize because I didn’t look hard enough, until now. I didn’t look far enough. I didn’t review papers from smaller labs in other countries doing some remarkable research, and I was too dismissive of the loud chorus of legitimate patients whose symptoms improved on cannabis.
Instead, I lumped them with the high-visibility malingerers, just looking to get high. I mistakenly believed the Drug Enforcement Agency listed marijuana as a schedule 1 substance because of sound scientific proof. Surely, they must have quality reasoning as to why marijuana is in the category of the most dangerous drugs that have “no acceptance medicinal use and high potential for abuse”
They didn’t’t have the science to support that claim, and I now know that when it comes to marijuana neither of those things are true. It doesn’t’t have a high potential for abuse, and there are very legitimate medical applications. In fact, sometimes marijuana is the only thing that works
— Dr. Sanjay Gupta
Dr. Sanjay Gupta


Time line Cannabis



California has passed the law to go recreational for cannabis sales for 2018. The licenses that have been compliant, regulated, and taxed by the State of California since the beginning of Proposition 215 will remain active. Any other licenses not compliant will be shut down.

California has passed the law to go recreational for cannabis sales for 2018. The licenses that have been compliant, regulated, and taxed by the State of California since the beginning of Proposition 215 will remain active. Any other licenses not compliant will be shut down.




Screen Shot 2017-06-06 at 11.26.17 AM.png


Adam Bierman still sounds incredulous as he recounts his initial plunge into California's medical marijuana business. A former college baseball player who had never so much as taken a toke, he found himself in his apartment surrounded by 20 pounds of weed sealed in Ziploc bags. 

"I was looking at my wife, like, 'What have we done?'" recalled Bierman, before stuffing the marijuana into garbage bags, depositing it in a bicycle basket and pedaling the merchandise to the pot shop he and his business partner were about to open in the seaside community of Marina del Rey, west of Los Angeles.

Bierman's business, and the state of the cannabis industry in California, have evolved substantially in the seven years since. 

That first dispensary is gone, but Bierman and partner Andrew Modlin have helped more than 100 marijuana businesses navigate regulatory issues, refine their cultivation and production techniques or operate retail shops. Their management company, MedMen, just closed a $60-million private equity fund for investing in the emerging industry – with another investment vehicle on the horizon. 

MedMen embodies the promise of the legal cannabis business in California, where there's a new gold rush to capitalize on a potential multibillion-dollar market.

Colorado and Washington state receive considerable attention for their fast-growing recreational cannabis markets – which reached a combined $1.5 billion in sales in 2016, up a brisk 66 percent from the prior year, according to the latest statistics from Marijuana Business Daily. 

Yet California's legal sales already dwarf that. Arcview Market Research estimates medical marijuana purchases totaled $1.8 billion last year, on the way to a projected $5.7 billion by 2021, as the state opens the door to adult recreational use.

"There's a lot of excitement about what's going to happen there," says Chris Walsh, editorial director of Marijuana Business Daily, which each year publishes a comprehensive cannabis industry Factbook. "But it's going to be messy as they try to regulate this medical marijuana industry that's not used to any rules."

California was the first state to legalize medical marijuana use in 1996, but it never set statewide regulations – leaving oversight to local governments. That opened the door to disreputable players, says Walsh, making the state a pariah of the marijuana industry as it fought for legitimacy.

The Golden State has been slow to conform to guidelines laid out by the Justice Department in 2013, as it struggled to reconcile Congress' view of marijuana as a dangerous drug whose illicit proceeds finance criminal groups with state ballot initiatives legalizing pot use. The Obama administration spelled out its enforcement priorities so state regulators could avoid running afoul of federal prosecutors – namely preventing marijuana sales to minors, the diversion of revenue to gangs and cartels, or the use of an authorized businesses as cover for illegal drug trafficking.

"That's why California has been a hot seat for a while," says Mitchell Kulick, founding partner at the New York City law firm of Feuerstein Kulick, which advises investors and early stage cannabis companies. "Despite being the first, they were the worst."

Nearly 20 years after legalization, the California Legislature took steps in 2015 to license and regulate medical marijuana. The proposed rules – unveiled just last month – would require testing, seed-to-sale tracking and licensing of dispensaries. But these rules have yet to take effect. 

Meanwhile, Gov. Jerry Brown is scrambling to align regulations for medical and recreational cannabis use, after voters last November approved a referendum legalizing its sale to adults 21 and older, starting in 2018. 

"Even though California is the Holy Grail when it comes to cannabis – there isn't even a close second – I'm directing clients away from it until California gets its act together," Kulick says.

Uncertainties about whether the Trump administration will step up enforcement in the 29 states that have legalized medical or recreational marijuana hang over the industry. 

Attorney General Jeff Sessions isn't exactly a fan of marijuana use – he once remarked in a congressional hearing that, "Good people don't smoke marijuana." In recent weeks, he has directed federal prosecutors to crack down on drug offenders and seek the strongest provable charges. That reverses Obama administration policies to reserve the toughest charges for major traffickers and violent criminals.

Most banks still shun the cannabis industry because of burdensome and costly federal regulations aimed at preventing money laundering. Some 301 banks and credit unions now do business with the industry – less than 3 percent of the nation's financial institutions, according to Arcview.

Internal Revenue Service rules also prohibit growers and sellers from writing off normal business expenses, such as marketing, involving anything "associated with selling illicit substances." That leaves legal cannabis businesses paying effective tax rates of up to 70 percent, Arcview notes.

In a sign that the marijuana industry is stepping out from under the grow lights and into the sunshine, cannabis company representatives met last week with congressional representatives in Washington, D.C., to advocate for tax reform and a change in banking regulations.

These in-person meetings, said MedMen's Bierman, are crucial to shaking off outdated notions about the industry.

"If I was going to talk to a regulatory affairs director for a pot company, (legislators may wonder) 'Is it someone who shows up with Birkenstocks and braids in her hair?'" Bierman says. "That's not what happened."

Still, the perceived risk and uncertainty is enough to keep Wall Street money out of the marijuana business – at least for the time being. 

That creates opportunities for new players such as MedMen and others, whose private equity funds provide a way for smaller investors with a tolerance for risk to capitalize on an industry that financial services firm Cowen & Co. projects should reach $50 billion by 2026.

"You will not find another multibillion-dollar market growing at this type of rate anywhere in the world that does not already have big institutional players in it, big institutional funds and big multinational players," says Troy Dayton, chief executive of Arcview, whose investment network has invested in excess of $117 million into 145 cannabis startups.

The size of the opportunity coaxed Chris Leavy out of retirement. He spent two decades in asset management, most recently as chief investment officer responsible for $115 billion of fundamental equity assets at BlackRock. 

Leavy's all about identifying undervalued assets – and the cannabis industry is ripe with businesses that are cheap relative to their potential, he says. With so many pools of capital on the sidelines, he decided to invest with MedMen. He took on an advisory role in late 2016, and in March was named co-chairman. 

Bierman's aha moment came even earlier, in 2009, when he and Modlin were running a branding and marketing company called ModMan, a contraction of their surnames that also offered a subtle nod to the popular AMC television series "Mad Men," set in the 1960s advertising world of New York City's Madison Avenue. 

The operator of a Sunset Boulevard pot shop had contacted ModMan about developing a new logo, store concept and website. Wearing a suiting and tie, and lugging a briefcase, Bierman met the owner of the tiny, 600-square-foot dispensary devoid of any amenities (he actually called it a "dump"). He asked basic questions about the operation, including revenues. He thought the owner misunderstood when he inquired about her monthly revenue. He was wrong.

"I left there, called Andrew and I said, 'This lady turns $300,000 a month. We can do way better,'" says Bierman, seeing parallels between the budding legal marijuana business in California and online poker.

"Gambling is something that Americans are participating in, whether it's legal or not," Bierman says. "When online poker became accessible, the demand was there. It was being fulfilled by black market means. It was being repressed."

The duo spent a year researching medical marijuana dispensaries before opening their dispensary, The Treehouse. The business evolved in 2012, when Massachusetts became the 18th state to legalize medical marijuana and Bierman began receiving calls from would-be dispensary operators, seeking to tap his expertise.

Bierman and Modlin shut down their branding operation, divested their assets in the marijuana world and began building a management company. They hired a chemist with a background in petroleum to develop standards for cannabis extraction and analysis. Another expert with a background in large-scale agriculture techniques helped develop guidelines for breeding, seed production and other practices in marijuana cultivation.

"That was a two- to three-year process," Bierman says. "We invested everything we had."

MedMen was out of cash when the phone started ringing with requests to operate dispensaries or help raise capital. The company's fortunes quickly rebounded. Earlier this year, it closed a transaction for $26 million to acquire Bloomfield Industries, one of five companies licensed to sell medical marijuana in New York. 

Now, the company is growing so quickly it is searching for new office space. 

As the business gains velocity, Bierman is turning his attention to wiping away the stoner stigma attached to marijuana use. The company took over operation of a dispensary in West Hollywood, renovated the space and reopened it under the MedMen brand last year, giving it an Apple-esque appearance, with long walnut tables, glass displays and an airy, well-lit interior. Small touches, such as artfully arranged circular glass cases that showcase individual buds, lend it the feel of an upscale mall store.

"If you sit and watch who walks in and out of the door, it is a representative of that community: young and old, gay and straight, rich and middle class, working and retired, it's Hollywood and blue collar," Bierman says. "That's what tells me we are succeeding in our attempts to mainstream marijuana."

Following the example of Apple Inc., which spent decades cultivating Hollywood, MedMen has been romancing the entertainment industry. Earlier this year, it hosted a private cannabis pairing dinner prepared by celebrity chef Neal Fraser attended by film, television and music industry executives.

Bierman hopes that such social events will help normalize pot use, and embolden Hollywood filmmakers to incorporate its use in mainstream films like the 2009 romantic comedy "It's Complicated," in which stars Meryl Streep and Steve Martin spice up date night by sharing a joint.

"These weren't hippie stoners," Bierman says. "These were middle-aged people dealing with complications of divorce and sharing an experience with cannabis. For me, that moment stood out."


Article from:

The California Gold Rush era (1848-55) was about people wanting to make their fortunes by mining precious minerals or finding their “Texas tea” on the ground. Today there’s a new player in the hood.  Her name is Mary Jane.

That sound you hear isn’t just stoners getting high, but rather the rush to the four states (Alaska, Colorado, Oregon and Washington, plus the District of Columbia) where recreational marijuana is now legal.

But the subject here isn't about legalization. It's about an industry migrating from an illegal to a legal, and sometimes profitable, industry, while many inconsistencies – both legal and financial -- remain.

It's also about the need to pay attention to an industry with the potential to make us re-think how we see entrepreneurism and how the product in question could veritably change the face of business.

Recently, I spoke to Robert Hunt, someone who has done his fair amount of research on the topic. Hunt, the president of Teewinot Life Sciences, was a guest on my podcast (Episode 81) and talked about the profitability in sales of recreational cannabis, the current shift in trends and the discrepancy that exists between federal and state/local laws.

Cannabis, he said by way of background on this fledgling industry, was a part of the pharmacopeia until it became a controlled substance in 1930 and was designated a Schedule 1 drug in 1973 by President Richard Nixon. Recently, the Drug Enforcement Agency (DEA) refused to have it removed from the list of most dangerous drugs, despite a popular push to legalize it.

Come this November, however, there will be nine states that will have cannabis legislation on their ballots -- five of which (California, Arizona, Maine, Nevada and Massachusetts) will regard recreational use, and four more (Arkansas, Montana, North Dakota and Florida), medicinal use.

As a businessperson myself, I have two questions: Is the sale of cannabis a profitable business enterprise? And what lessons can we learn from the states that have already legalized marijuana?

The financial issues of cannabis

In states like Colorado, where cannabis was legalized in 2012, tax revenues started slow but saw a healthy growth: Almost $113 million in sales tax revenue was paid into state coffers in 2015; and in 2016 that figure will likely exceed $140 million.

Colorado, in fact, has seen huge financial benefits from the sale of cannabis, with those funds going towards schools and education. As Rob told me, this trend is expected to continue in other states, as more move toward legalization. “California generated around $2.7 billion in sales last year," he said. "When they integrate its new MMRSA laws [medical marijuana regulation and safety act], they’ll also lead in both sales and tax revenue.”

Related: Fund-raising in Cannabis, Initially Slow, Is Going Higher and Higher

While states moving to legalization, or already there, have been able to put their cannabis-generated funds to good use, there are still some financial discrepancies that remain uncertain, especially in banking.

Federal laws prohibit banks and credit unions from taking marijuana money. Accordingly, those businesses can’t get loans, and customers have to pay in cash. Currently, about 40 percent of cannabis businesses in Colorado lack bank accounts, and despite a number of ways to circumvent the system, the Federal Reserve and the National Credit Union Administration remain powerful roadblocks.

This puts these businesses at odds with both the Department of Justice and the U.S. Treasury, which have said they won’t prosecute financial transactions from dispensaries, but will closely monitor them for any wrongdoing.

Despite the obstacles, however, the industry is slowly coming on board.

As of March of this year, there were 301 banks and credit unionswilling to handle “pot money” -- a jump from just 51 in 2014. As public attitudes toward cannabis evolve, so has the business sector. But that sector still needs to play catch-up.

The business of cannabis

It’s hard to ignore the massive shift in policy. Corporations like Microsoft have noticed and are getting involved. Breaking corporate taboo, the tech giant teamed up with a “weed financing start-up,” creating cloud apps that are able to track plants from “seed to sale,” while remaining in full compliance with existing laws.

While such a move may be easier for Microsoft, which is based in Washington State, where the sale of cannabis is legal, many in corporate America still see the industry as a turn-off. I can say that until recently, I was in full agreement with that statement.

Yet my position has shifted somewhat, and I’ve learned that it is not an either/or issue. There’s plenty of in-between to keep everyone busy trying to figure out what the next steps are, and synchronizing the business and legal aspects.

My interview with Hunt also gave me some insight about the profitability of dispensaries and some sound advice for entrepreneurs looking to invest in this business.

Like the gold rush or oil booms of the past, one thing to note is that fortunes were not made by those doing the mining or the drilling, but by those who saw the opportunity of the industry as a whole.

As with any other business venture, you have to do your research first and make sure that it meets your conditions, whatever those are. Mine are simple: to make money, have fun, and grow professionally. So, that said, here are some key takeaways from my interview with Rob:

  • There’s no such thing as an “average” dispensary. Profitability depends on the state it operates from. On the conservative side, a dispensary in a competitive market or a restrictive state may see only a couple of hundred thousand dollars in annual top line revenue, whereas one in a relaxed market with limited competition might see revenues in the millions. In net profits, those amounts could be much lower, due to 280e tax restrictions
  • The industry’s goal is the same as every other - to make money.
  • There’s still plenty of skepticism to invest in the cannabis industry. Lack of knowledge, inconsistent laws, and the continued status of states without a legal cannabis program are the main reasons people stay away from the industry.

Whatever side of the fence you're on regarding legalized marijuana, expect to see plenty of changes in a number of states in the next couple of months. There are still plenty of details to iron out, but keep an eye on this industry. One never knows where there might be an opportunity to innovate; and some of the best ideas sometimes come from someone looking to buck the system.

You have to think big and outside the box! And the cannabis industry is definitely outside the conventional corporate box, though I don’t think it’ll remain there long.

Come November, there might not even be a need to head west. Entrepreneurs will be keeping their eye on this industry much closer to home, if the voters decide this new "rush" is going to be the new normal.