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Monday, May 03, 2021

Only the government can lose money selling weed

Ontario Cannabis Retail Corp. lost $42 million in the latest fiscal year, according to newly released public documents. 

The provincial Crown corporation tasked with online sales and wholesale distribution of recreational pot reported revenues of $64 million for the year ended March 31, 2019. 

Court halts Ontario cannabis store licensing until judicial review takes place However, Ontario's consolidated financial statements show the OCRC, which operates as the Ontario Cannabis Store, racked up expenses totalling $106 million during the period. 
-WiscoDave

9 comments:

  1. Replies
    1. HEH, my first thought also. This wasn't an example of poor business sense; this was an example of governmental greed, corruption and graft.

      Delete
  2. Didn't the US govt lose money running a cat house?

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  3. What's the cannabis version of "moonshiner" called?

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  4. NYS lost money on off track betting.
    Only a gov't bookie can lose money.

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  5. [rocketride]

    Or running a 'cathouse'. . .

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  6. employees paid 100k+ and all the weed they could smoke.

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  7. We operate a small organic teaching farm near the outskirts of Eugene Oregon.

    After 'the gold rush' of a half-decade ago, growers and staff at marijuana dispensaries barely earn minimum wage.
    For many, it is a labor of love, similar to a music teacher or crafts mentor.
    They don't work for the money, they do it because suffering people are helped by the medicine.

    A couple years ago, Oregon Likker Control seized a warehouse grower and their dispensary for not paying enough taxes.
    Utterly unskilled to work in the real world, the bumblebrats in charge of running the two businesses trashed both businesses to the tune of six million dollars.
    Down the drain.

    I understand some astute readers of WesternRifleShooters and BigCountryExPatOriginal visited the dispensary in a friendly manner, politely asking for the full names of the bumblebrats.
    I expect that might have something to do with "getting ready for the next 'vote'".

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  8. Fucking gov can't do anything right. Or efficient.

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