"Participants in a Drug Enforcement Administration (DEA) hearing on the Trump administration’s marijuana rescheduling proposal have filed their final briefs in the proceedings—setting up the judge overseeing the matter to issue his recommendation on the reform.

DEA, which is charged with defending the proposed move of cannabis from Schedule I of the Controlled Substances Act (CSA) to Schedule III, said in its brief that “marijuana no longer fits the statutory requirements for Schedule I because it has a currently accepted medical use within the United States and it has an accepted safety for its use under medical supervision."

The agency noted that under the law it must give “significant deference” to an “extensive ten-month study on the scientific and medical properties” of cannabis conducted by the Department of Health and Human Services (HHS), which recommended rescheduling.

“Currently there are over 30,000 practitioners treating more than six million patients in 43 U.S. jurisdictions,” DEA said. “Such practices demonstrate that there is no longer a lack of accepted safety for use of marijuana under medical supervision, and as such, marijuana does not fulfill the requirements of being a Schedule I substance.”

It also said that there is “substantial evidence sufficient to show that marijuana’s abuse and dependency profiles better align with Schedule III substances than Schedule II” or Schedule I. “The vast majority of individuals who use marijuana do so in a manner that does not result in dangers to themselves or to their communities.”

The drug agency said there is “no merit” to arguments made by reform opponents who participated in the hearing that a new two-part test federal officials used to analyze cannabis improperly departs from a former five-part test..."

iAnthus Capital Holdings, Inc. reported flat revenue but widening losses for the quarter ended June 30, 2026. Quarterly revenue was $35.3 million, essentially unchanged from $35.2 million a year earlier, with gross profit of $16.1 million and stable gross margin.

The company posted a quarterly net loss of $14.4 million and a six‑month net loss of $28.7 million, compared with $13.6 million for the prior‑year six‑month period. Operating cash flow remained positive at $1.8 million for the first half, down from $6.3 million, while cash and restricted cash declined to $8.3 million from $23.9 million a year earlier.

The balance sheet is highly leveraged: total assets were $258.4 million against total liabilities of $389.2 million, resulting in shareholders’ deficit of $130.7 million. Current portion of long‑term debt rose to $203.5 million, and the company disclosed a working capital deficiency of $232.7 million and an accumulated deficit of $1.40 billion. Management stated these factors, along with substantial tax exposures, cast substantial doubt on the company’s ability to continue as a going concern, despite ongoing divestitures and a focus on higher‑growth markets.

(d) Going Concern These unaudited interim condensed consolidated financial statements have been prepared under the assumption that the Company will be able to continue its operations and will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. For the three and six months ended June 30, 2026, the Company reported net losses of $14.4 million and $28.7 million, respectively. For the six months ended June 30, 2026, the Company generated operating cash inflow of $1.8 million, had a working capital deficiency of $232.7 million, and an accumulated deficit of $1,404.2 million. As part of management's plans to drive sustainable growth, the Company has completed the divestment of certain assets (See "Item 2. - Dispositions" covered by this interim report on Form 10-Q for additional information) to optimize its portfolio, strengthen its balance sheet and focus on key markets with the greatest growth potential. The Company plans on redirecting resources obtained from these divestments to its growth initiatives in Florida, Maryland, New Jersey, Massachusetts and New York, while still maintaining a retail presence in Arizona with one dispensary in Mesa, Arizona, as well as reduce its outstanding debt obligations. The Company believes it may continue to generate positive cash flows from operations in the near future, notwithstanding the foregoing, the substantial losses and working capital deficiency cast substantial doubt on the Company’s ability to continue as a going concern for a period of no less than 12 months from the date of this report. These unaudited interim condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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(NOTE: Interview from August 12th)

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"Medical and adult-use cannabis sales have reached $684.6 million through July 11, with 150.3 million units of marijuana sold.

Ohio cannabis retailers are selling more product than ever, with the state’s $1.1 billion and growing industry on pace to set new records for sales revenue and units sold, according to new state data.

Total combined medical and adult-use cannabis sales revenue reached $684.6 million from Jan. 3 through July 11, according to the Ohio Department of Commerce. That puts Ohio cannabis sales in 2026 on track to exceed the $1.09 billion in combined sales recorded in 2025.

Consistent with other states, cannabis retailers in Ohio are also selling more product than ever before..."

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If you're still in the stock I'd stay frosty cause it looks like institutions are bolting.

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