Herbl Archives - Green Market Report

StaffOctober 11, 2023


The Daily Hit is a recap of the top financial news stories for Oct. 11, 2023.

On the Site

HERBL Ledger Up for Sale After Initial Asset Deal Dies

An upcoming deadline for cannabis brands distributor Herbl’s accounts receivable is the latest development in the unfolding saga of the company’s receivership. Interested parties have until Oct. 13 to submit offers for the company’s ledger, after which it may be turned over to a collection agency. Read more here.

Unrivaled Brands to Become Blüm Holdings

Nevada-based cannabis company Unrivaled Brands Inc. (OTCQB: UNRV) will reorganize under a new publicly traded banner, Blüm Holdings Inc. Read more here.

New Mexico Considering Marijuana Business License Fee Hike

Some cannabis microbusinesses in New Mexico will see their annual license fees double to $1,000 if a package of proposed rule changes survive a coming public comment period and is implemented. The policy change – one of several on the agenda for a Nov. 13 meeting of the state Regulation and Licensing Department’s Cannabis Control Division – would affect integrated cannabis permit holders with 100 plants or fewer. Read more here.

Hemp Wars on the Way?

The exploding national U.S. hemp market has ballooned to more than $28 billion in revenue this year alone, surpassing the national marijuana market in total value, according to economist Beau Whitney. Read more here.

Connecticut Cannabis Sales Continue Slow, Steady Growth in September

Connecticut’s nascent adult-use marijuana industry continued its steady march forward in September with $14.3 million in sales, yet another monthly increase, continuing a trend that’s been ongoing all year since the new market launched in January. Read more here.

In Other News

Verano Holdings

The Alabama Medical Cannabis Commission (AMCC) Tuesday asked a Montgomery circuit court to dismiss a lawsuit from Chicago-based firm Verano Holdings. Verano, which has an Alabama chapter, sued the commission in August, alleging the AMCC cannot revoke licenses and that its exercise of power “both exceeds and conflicts with the authority provided to it by the Alabama Legislature.” Read more here.


A marijuana dispensary in Florissant accused St. Louis County and the Missouri Department of Revenue of unconstitutionally collecting a 3% sales tax on top of municipal sales taxes rather than just collecting the levy in unincorporated county territory. It is at least the second such case in the state. Read more here.

Indoor Harvest Corp.

Indoor Harvest Corp. (OTCPK: INQD) signed a joint venture agreement with MjLink.com Inc. to collaborate in providing a platform for hypergrowth companies and start-ups that have the potential to experience substantial growth, including hemp and CBD-related companies. Read more here.

StaffJune 20, 2023


The Daily Hit is a recap of the top financial news stories for June 20, 2023.

On the Site

Herbl Employees Say Goodbye Amid Reports the Company Shut Down

While Herbl has yet to confirm the news, it seems the big California distributor has turned out the lights. There had been rumblings for days that the company was in trouble. The whole thing appears to have crashed down on Friday, though Green Market Report has been unable to confirm that the company has been appointed a receiver. Read more here.

Grown Rogue’s Revenue Rises, Operating Cash Flow Sees 62% Surge in Quarter

Oregon-based craft cannabis company Grown Rogue International Inc. (CSE: GRIN) (OTC: GRUSF) reported a significant 28% increase in revenue, reaching $6 million for the three months ending April 30. The growth represents a substantial hike from the $4.7 million recorded in the same quarter of 2022.  Read more here.

Seeing Green Shoots in Cannabis Equity

It’s been well documented that equity capital raises in cannabis have withered on the vine. As stock valuations plunged – by as much as 90% in some cases – investors had little interest in getting more stock in a company. But against this depressing backdrop, at least five cannabis companies have recently announced equity deals. Read more here.

22nd Century Group Eyes $5.3M Stock Offering Amid SEC Settlement

Cannabis and tobacco biotech firm 22nd Century Group Inc. (Nasdaq: XXII) has reached a preliminary settlement in a class-action lawsuit involving investors accusing the company of hiding a Securities and Exchange Commission investigation. Read more here.

In Other News

Chem ID Ltd.

The Association for the Cannabinoid Industry and the Centre for Medicinal Cannabis have entered into a strategic partnership with Chem ID Ltd, a leading provider of chemical data standardization, validation, and traceability solutions, to provide product authenticity, validation, and quality assurance within the commercial cannabis extract and medical cannabis markets in the U.K. and Europe. Read more here.

TerrAscend Corp.

TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) received regulatory approval from the Maryland Cannabis Administration for the acquisition of Derby 1 LLC , dba Peninsula Alternative Health, a medical dispensary in Maryland. The transaction will add a second dispensary to TerrAscends’s Maryland footprint and is expected to close shortly. Read more here.

StaffSeptember 2, 2021


The presence of technology has changed the entire world. In the cannabis industry, it is the backbone of most operations whether discussing extraction, seed to sale tracking, customer management software, loyalty program apps or platforms to conduct delivery operations. Technology is everywhere in the cannabis space. Major investment seems to continue to pour into technology for this industry, for example Jane Technologies just announced a $100 million dollars raise. This is big money and it comes with big minds. Green Market Report decided to highlight some of the best and brightest in cannabis technology. Here are a few power players who we feel you should know.

David McCullough, Chief Technology Officer of Akerna

Prior to being appointed CTO of Akerna, David McCullough served as Akerna’s Executive Vice President of Product & Engineering for the last five years, overseeing all software development, development operations, quality assurance, automations, systems, and security operations. He has over 16 years of Software Engineering experience.

Before joining Akerna, he was the CTO of StudentPublishing.com, where he actively managed the technical aspects of Student Publishing’s sale to and systems integration with lulu.com.

David has extensive government systems experience and was also a professor at New Mexico State University where he taught courses in data communications and networking.


Navin Anand, Chief Technology Officer of springbig

Navin Graduated Northern Illinois University with a masters in electrical engineering and a masters in technology and management.

Navin has over 15 years experience in software engineering including leading a team of 100 engineers at Verifone, one of the world’s largest multinational payment processing and POS solution providers. In his time at Verifone, Navin crafted solutions for blue-chip brands including  McDonalds, YUM Brands, and Visa.

Navin is recognized as a data-driven leader and problem solver who is able to streamline the software engineering delivery and QA process through advanced systems automation and project management, reducing time to delivery and aligning various IT sub-departments into a common system that speak the same language.

Tiffany Burtt, Founder & Chief Technology Officer of Bulb Tech 

Burtt is the Founder and CEO of Bulb Tech. With 15 years of throttling early-stage startups to the market on a bootstrap budget, Tiffany Burtt, delivers performance focused products and technology solutions to aide in launch strategies, boosting sales and capturing new opportunities. Recognized for creating rich and flawless CX design, her product innovation and solutions consistently propel revenue growth and drive strategic business initiatives to elevate the company vision. Since 2014, two of Tiffany’s projects have been acquired by Fortune 500 companies. 

In 2016, Tiffany took the plunge and applied 20 years of experience as a woman in tech and her lifelong affair with cannabis to build a powerful set of business tools solving critical challenges in the industry. With unwavering passion, she believes in the combined power of cannabis and tech to improve our lives and create a sustainable impact. Tiffany’s company, BulbTech, is woman owned and operated.

Tiffany’s work doesn’t stop with technology. She is a fierce advocate for women, minorities, veterans, and the LGBT community as it relates to medical cannabis and overall business. She educates, mentors, and consults with new businesses facing the challenges of an emerging industry. 

Burtt built a global team with varying skills and diverse backgrounds. Her reach spans India, Pakistan, London, Russia, Belarus, Sweden, Netherlands, Indonesia and the US.

From digital idea/product concept into executable definition, both technically and operationally, to the market, on-budget. Tiffany is sassy, scrappy, original, and driven.


Marc Lopez, Chief Technology Officer of Drop Delivery

Marc Lopez is the CTO and co-founder of Drop Delivery, the cannabis industry’s only all-in-one delivery technology solution for retailers. A twenty-something serial entrepreneur, Marc previously co-founded Greenlight Technologies, a leading order-ahead and digital loyalty software in the cannabis industry, which was acquired in 2018 by publicly-traded Leafbuyer Technologies.

Before jumping into the cannabis industry, Marc co-founded two vape industry software companies, the e-commerce platform Vape Block, and the peer-to-peer marketplace Vape Mail in 2015, where he built the technology that both platforms ran on. The motivation to develop a peer-to-peer marketplace came from his previous startup, Uniform in 2015, a peer-to-peer marketplace for the fashion industry.

While in college, and with his current Drop Delivery co-founders Vanessa and Jade Gabriel,  Marc co-founded aSociete in 2011, a shopping platform for millennials to shop for their favorite fashion brands from all across the web in a simple, entertaining, and engaging way.

Marc Sherman, Chief Information Officer of HERBL

Marc Sherman is a highly-skilled Information Technology Executive with over 20 years’ experience designing, delivering, and supporting innovative Enterprise Supply Chain System solutions that drive business growth and profitability for all stakeholders.

Prior to joining HERBL, he was Vice President, Information Technology for FedEx Supply Chain, a $1.6B subsidiary of FedEx focused on Third-Party Logistics in multiple verticals including Technology, Retail, Consumer Products and Healthcare across over 130 sites in North America.

Before joining FedEx, Marc served on active duty in the United States Air Force for 20 years where he held multiple Operations and Logistics management positions in the United States, Europe, and Southwest Asia. He holds a Master of Business Administration degree in Information Systems and is a former Adjunct Professor with Northwood University.

Sherman currently lives in Keller, Texas with his wife Caroline.


StaffMay 28, 2021


Executive Spotlight: Mike Beaudry

Mike Beaudry is founder and CEO of HERBL Solutions, California’s largest cannabis distributor and supply chain solutions company servicing more than 850 storefront and non-storefront retail licensees. Under his leadership, HERBL brings outstanding people, processes, and technology together to create a powerful supply chain never before seen in the cannabis industry.

Mike has over 25 years of experience leading high-volume distribution companies and held several executive roles in the natural & organic products industry. Mike led the national operations and then spent more than five years as President of United Natural Foods (UNFI), America’s leading distributor of natural, organic and specialty foods. As president, he rapidly scaled UNFI from a regional company with $700 million in sales to a national company with $5 billion+ in the books.

After more than a decade at UNFI Mike spent five years as CEO of Lang Pharma Nutrition, a private label dietary supplement company which manufactures and distributes products for the top retailers in the U.S., including Costco, Walmart, CVS, and Target.

Mike began researching the California legal cannabis industry in 2014 and relocated from Rhode Island to California in January 2016 to focus 100% of his efforts on cannabis. In November 2014 he walked the floor of a cannabis conference and harked back to his roots in natural foods, immediately struck by the similarities: lots of small brands with people passionate about their product. Just as with organic and natural foods, the cannabis show was lined with long-time believers telling their story, relentlessly encouraging others to discover the plant. Today’s multi-billion natural food industry was similarly founded on the backs of artisanal brands, each with their own unique story, yet with a communal mission to bring their goods to market for others who may want and need them.

After a two-year journey to learn all he could about California’s industry and beyond, Mike formally launched HERBL in 2018. HERBL has built a tremendous team to bridge the pioneers and craftsmen with those that can bring their product to the end consumer.

Full Name:

Mike Beaudry


Founder & CEO



Years at current company:

2016 – Present

Education profile:

High School Diploma

Most successful professional accomplishment before cannabis:

I was fortunate to have been at the forefront of building out the largest natural food distribution supply chain in the U.S., first as head of operations and then as President of UNFI.  During my ten years there, we rapidly scaled from a multi-regional company with $700+ million in sales, to a national powerhouse doing over $5 billion in sales.

In 2014, I attended a cannabis trade show and I was immediately struck by the similarities between the natural foods sector and the increasingly legal cannabis sector.  First, through the passion of the producers and their relentless commitment to pioneering a new industry, and second, because of the clear complexities of the seed to shelf supply chain – as both sectors required significant expertise in regulatory and health compliance, nuanced logistics, and the need for an independent distributor that could add critical insights to brands and retailers as the market evolved.

After diving into a full-time, two-year journey to learn all I could about the cannabis industry in California and beyond, I launched HERBL in 2018. Since then, we have built a tremendous team to serve this nascent and explosive industry.

Company Mission:

HERBL’s mission is to help make cannabis more accessible to everyone. Our experienced leadership team works to help brands and retailers efficiently manage inventory, assortment, sales, distribution — the whole nine yards.

Company’s most successful achievement:

Having exceeded $265M in sales in 2020 and forecasted to top $380M in 2021, I have never been more certain about HERBL’s competitive advantage, and the ability to create substantial long-term value not only for our stakeholders, but for the cannabis industry as a whole.

Today, HERBL is the largest cannabis supply chain company in the largest cannabis market in the world. We’re exclusively partnered with top-selling brands to deliver over 1,000 SKUs to 850+ retailers across California.

Has the company raised any capital (yes or no):


If so, how much?:

50+ Million

Any plans on raising capital in the future?


Most important company 5-year goal:

To continue strengthening the foundation we’ve built in California and taking our proven model into different markets around the country.

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up

About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


Recent Tweets

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.