October 13, 2021 (Source) — FinCanna Capital Corp. (“FinCanna“) (CSE:CALI)(OTCQB:FNNZF), is pleased to announce its ezGreen proprietary software previously approved by the City of Adelanto, CA as an official Point of Sale (POS) vendor is kicking off its first city sanctioned cannabis event later this month with five more scheduled events to follow.
The City of Adelanto selected ezGreen POS as it enforces vendors’ compliant operations by delivering real time data related to inventory movement and cannabis sales connected with all municipal and California Bureau of Cannabis Control (BCC) approved events. The ezGreen POS platform delivers the dynamic reporting systems needed to accurately identify, in real time, taxes owed for cannabis products sold in any compliant environment.
This endorsement provides multiple benefits to ezGreen:
- an immediate source of revenue generation from on-site dispensary sales
- an excellent opportunity to showcase the advantages of its POS solution including, fully customizable compliance reporting, workflow management, business analytics and more to dispensary owners participating in these events and importantly, is free to the dispensary license holder
- highlights the efficacy of its software with respect to real time, compliant tax reporting by dispensaries, an important source of revenue for any municipality in the country that may host or plan to host a publicly sanctioned cannabis related event
The upcoming City of Adelanto officially approved festival schedule, with each event expecting to draw thousands of attendees is as follows;
- October 23, 2021- ComedyChella
- November 6, 2021 – Kushstock Festival
- November 26/27, 2021 – Roll Up Festival
- February 12, 2022- Kushstock Festival
- April 16/17, 2022-Kushstock Festival
- July 2, 2022- Kushstock Festival
Mike Coner, President of ezGreen stated, “Our ezGreen POS software solves an important and costly problem experienced by the City of Adelanto, as it generates in real time the analytics and inventory reports that will allow city officials to rectify taxes at the conclusion of each event and get paid before the vendors leave the property. This is a common pain point for regulators working with vendors that join sanctioned events in any legal jurisdiction nationally. Additionally, this endorsement positions us to truly showcase our software with participating dispensaries, and we are confident they will be more than pleasantly surprised.”
Andriyko Herchak, CEO of FinCanna Capital said, “Legal jurisdictions across the US are keenly aware of the potential tax revenue to be derived from legal cannabis sales and accurate real time tracking and reporting of sales is essential to the collection of those tax revenues. Mike has done a great job in gaining endorsement from the City of Adelanto and it is a testament to the strengths of the ezGreen POS system both from a compliance reporting perspective and as a powerful business tool for dispensary operators.”
The ezGreen POS softwareis the only HIPAA (Health Insurance Portability and Accountability Act) certified point-of-sale software in the market. It was developed with Automated Healthcare Solutions (“AHCS”), one of the largest point-of-care software solution providers, with an 18-year operational history in the medical sector and was created to provide similar compliance guidelines, standards, and disciplines to the US licensed cannabis industry.
The ezGreen business model is a function of its rapidly scalable Software as a Service (SaaS), point-of-sale product that also offers a free solution, generating revenue on a per transaction basis allowing dispensary owners to maintain compliance without another COGS cost that cannot be written off on taxes due to regulation 280e requirements.
About FinCanna Capital Corp.
FinCanna is an investment company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. FinCanna is focused on delivering high impact returns to its shareholders by way of a strategically diversified investment portfolio.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
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Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All forward looking statements, other than statements of historical fact, included herein , without limitation, statements relating the market for, and effectiveness of, ezGreen software, the ability of ezGreen to expand operations and generate sales and revenues, FinCanna’s ability to fund and source future projects, and FinCanna’s ability to earn and realize revenues and profits from ezGreen. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
SOURCE: FinCanna Capital Corp.