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Home 🌿 Marijuana Business News 🌿 Potential pot partner for Passamaquoddys short on cash 🌿Potential pot partner for Passamaquoddys short on cash
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The company that hopes to land a contract with the Passamaquoddy Tribe at Indian Township to design and build a marijuana-growing operation on tribal lands is struggling to generate revenue and is carrying substantial debt, according to its latest financial filing.
Denver-based Monarch America Inc., a 5-year-old penny-stock public company, describes itself as a cannabis consulting and management firm, although that is a relatively new business venture for the company. The management consultancy has yet to generate any revenue, according to a quarterly financial report filed in August with the U.S. Securities and Exchange Commission. It also has an affiliated retail business called The Big Tomato, which supplies hydroponics and indoor gardening supplies through a retail storefront and supply warehouse.
The company announced Sept. 1 that it had signed...
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