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Designed to Fail? New York's Medical Marijuana Mess

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Submitted by Marijuana News on Mon, 08/15/2016 - 08:10

New York medical marijuana distributors have yet to make a profit eight months after medical pot went legal in the Empire State, the Albany Times Union reported Sunday. There are simply too few patients in New York because of a lengthy qualification process that makes it hard for residents to purchase legal pot. 

Three of New York's five licensed operators, Etain Health, PharmaCann and Vireo Health of New York, told the Times Union they have not made money from selling medical pot since the law went into effect Jan. 7. The other official marijuana distributors and producers, Columbia Care NY and Bloomfield Industries Inc., would not discuss their earnings. 

"No matter how hard you look, there's no path, there's no way to make money in any way," Leslie Bocskor, founder and president of Las Vegas-based investment fund Electrum Partners, told the Times Union. He said he was asked to back some prospective New York operators...

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