Metrc Archives - Green Market Report

AxisWireAxisWireJune 4, 2019
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9min7870

ezGreen’s Point-of-Sale solutions now sanctioned by Metrc Cannabis Control Commissions in Six States

Fort Lauderdale, FL.– June 4, 2019 /AxisWire/ The ezGreen Compliance team has 17 years of experience in medical dispensing of pharmaceuticals to medical clinics across the United States.  This first-hand knowledge of heavily regulated health industries and HIPAA compliance is an essential element to developing a comprehensive software platform for the nascent cannabis industry – the fastest growing industry in the United States –one that is expected to reach $17 billion worldwide in 2019.

In the last two years, ezGreen Compliance (“ezGreen”) has developed a software system with multiple features, many of which have been missing from other industry platforms due to data breaches and shutdowns.  Creators of the ezGreen platform have just announced the completed integration with Marijuana Tracking Reporting Enforcement Compliance (“Metrc”) for six states-California, Colorado, Maryland, Massachusetts, Montana, and Oregon. Mandatory for all cannabis-legal states, compliance software is an important choice for cannabis businesses.

Currently, the number of those in the legal cannabis industry participating in a “track-and-trace” computer system is low, reasons cited include bureaucracy and timing. Michael R Blood of the Associated Pressreported that as of April 2019, just nine California retail outlets were entering data into the network established under an estimated $60 million state contract, even though 627 shops are licensed to sell pot in California.

Tracking products in real time, ezGreen is able to monitor the movements of products within the dispensary retail location to ensure they are reporting up to date inventory to the State through the Metrc portal.  ezGreen’s Point-of-Sale software eliminates the need for manual data entry when reporting information to Metrc. As retailers or dispensaries accept inbound product information on their Metrc portal, ezGreen receives chain of custody for all products delivered from the distributor to the retail dispensary, automatically batching and labeling every product prior to sale. The platform also integrates the Health Insurance Portability and Accountability Act (HIPAA) certified POS solution developed and supported by Automated HealthCare Solutions (AHCS). AHCS is a leading point-of-care tracking and dispensing software solution developed over the past 17 years which has supported over 3500 active physician operated clinics and dispensaries, all while maintaining HIPAA compliance following essential Health and Human Services standards in the United States.

To remain compliant, licensees must migrate their current inventory to the platform, enabling the tracking and reporting of cannabis and cannabis-related products as they move through the commercial supply chain.  ezGreen’s POS software supports and simplifies the maintenance and security of accurate reporting, inventory tracking, as well as product trends, and purchase amounts–which in some states are restricted.  The ezGreen Compliance platform also tracks taxes and regulations, keeping licensees up to date on changes at the local, state and national levels.

“Cannabis industry data standards are increasingly mirroring the pharmaceutical industry’s patient data security protocols,” said Mike Coner, President of ezGreen. “We are on top of that and more. Our POS solution delivers data security and integrates with any seed to sale technology platform.  ezGreen also provides fully customized reporting and real-time data analytics enabling businesses to make more effective decisions for their customers. In addition to our recent integration with Metrc, we are now able to provide patient and customer data protection within a state-approved end to end solution.”

About Metrc

Metrc was created by Franwell, a leading technology company dedicated to the development of leading products and services focused on supply chain solutions and RFID integration for the Agriculture industry.  First deployed for the Cannabis industry in 2013, Metrc is a web-based solution made up of a browser interface and a mobile application for both the industry and regulatory users that provides end to end tracking and tracing of marijuana plants and products.  The backend is a series of secure Web Services, Database and an Application Programming Interface (API). This solution was specifically designed for government agencies in charge of legalized marijuana enforcement. Metrc provides the necessary visibility for adherence to rules, regulations, and statutes. Currently, Metrc is contracted by the following states, Alaska, California, Colorado, Oregon, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada, Louisiana, and Washington D.C. For additional information visit https://www.metrc.com.

About ezGreen Compliance

ezGreen Compliance, located in Fort Lauderdale FL, is a proven state-of-the-art software enterprise compliance and Point-of-Sale software solution for licensed medical cannabis dispensaries and recreational retailers. Navigating through state-by-state license, tax and compliance issues has been challenging for the legal cannabis industry.  ezGreen Compliance helps customers comply with both the Health Insurance Portability and Accountability Act (“HIPAA”)and State Laws by ensuring patients’ confidential data is being handled properly, helping to protect from possible security breaches and financial and criminal liability resulting from potential violations while providing operators with a seamless and comprehensive software solution for compliance and their customer base.   For more information on this innovative software company please visit www.ezgreencompliance.com.

CONTACT:

Gaynell Rogers | gaynellrogers@gmail.com| 415.298.1114

Erica Glenn | ericaglenn.assistant@gmail.com| 530.912.2751


Anne-Marie FischerAnne-Marie FischerOctober 29, 2018
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3min18320

As everyone who owns a cannabis retail store knows, compliance is key to running a successful legal cannabis business, and tech companies have seriously stepped up to make compliance a seamless process.

Metrc, is a well-known seed-to-sale traceability platform that helps cannabis companies manage their inventory and the movement of cannabis products through the supply chain. Operating in Colorado, Oregon, Alaska, Maryland, Michigan, Ohio, Massachusetts, Montana, Nevada and Louisiana, and Washington, D.C., Metrc helps fulfill state reporting requirements and has become known as the “de facto track-and-trace system” for government entities that regulate the legal cannabis markets.

Metrc announced its first outside round of funding in the form of $50 million from Tiger Global Management and Casa Verde Ventures, the 3-year-old, cannabis-focused venture firm co-founded by notorious cannabis enthusiast and investor Snoop Dogg, but managed largely by Goldman Sachs and Nomura Securities alum Karan Wadhera.

The partnership between Tiger Global Management and Casa Verde Ventures, where each entity “shares deal flow quite regularly”, funded Point of Sale software company GreenBits, which is designed to integrate into seed-to-sale systems like Metrc.

Metrc was formerly part of Franwell, focusing on cold chain management and fresh foods, which helped gain the supply chain management knowledge and expertise needed to transition into seed-to-sale traceability for cannabis.

Metrc CEO Jeff Wells says that the over 100-employee company plans to “look to expand our regulatory focus,” with the $50 million investment, including potential expansion into “other regulated markets and products that need the type of tools that Metrc has created.”

“Compliance is the backbone of the cannabis industry. If a license holder isn’t compliant, their business will cease to exist,” said Karan Wadhera.

 


Michelle JanikianMichelle JanikianSeptember 14, 2017
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4min25360

Following two separate, significant security breaches over the last year, on Tuesday night, September 12, 2017, the state of Nevada announced that it will be changing its seed-to-sale track and trace compliance system from Leaf Data Systems to Metrc for all marijuana establishments. All Nevada cannabis companies, which includes dispensaries, cultivation facilities, and extraction facilities, have until November 1, 2017, to make the switch.

Nevada is breaking a five-year contract with MJ Freeway (creators of Leaf Data Systems) signed in March 2016 with this new deal. The original contract with MJ Freeway was estimated to be worth $603,393 for five years. The new deal with Metrc is estimated to be worth $816,000 for four years.

In late December 2016, Nevada’s Division of Public and Behavioral Health’s medical marijuana database was hacked. More than 11,000 medical marijuana applicant’s personal information was released on the internet.

Just days later, in early January 2017, MJ Freeway was hacked in a separate attack. This caused hundreds of marijuana businesses, like dispensaries, to go offline, making sales and transactions next to impossible across the U.S.  Then, MJ Freeway was hacked again in June 2017, when source code information was posted on Reddit and Gitlab.com. 

Nevada cannabis businesses are permitted to continue using other, approved seed-to-sale software as long as they transmit their data to Metrc.

Metrc, along with MJ Freeway and Biotrack THC, is the leading cannabis seed-to-sale tracking companies in the U.S., providing transparency and accountability to the industry. Metrc’s other state contracts include Colorado, Oregon, Maryland, Alaska, and recently, Michigan and Ohio. Metrc also bagged the big kahuna of contracts – California. The size of the state’s market is considered to be the biggest prize in the software market.

Metrc is owned by Franwell, an established track-and-trace technology company for agriculture and food products.

Since Metrc was founded in 2013, it has traced over 5 million cannabis plants.



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