CannaScore Wins Banking Appeal – Has Account Fully Restored

COLORADO: CannaScore announced it is has been successful in its appeal, and its banking privileges have been restored. As reported here on MJ News Network last month, the company had certain banking privileges revoked when its financial services provider discovered the company was providing services to the marijuana industry. During the appeal, the company offered its products free of charge.

“Although we have full banking access again, we are still giving all customers a free trial of our award-winning cloud-based software,” said Thomas Smith, Managing Partner.

The CannaScore system audits compliance with a wide range of regulations governing the cannabis industry, including licensing, security, personnel safety, food handling, pesticides, and chemical exposure.

Legal cannabis growers, producer/processors, and retailers can use the system to identify areas of non-compliance before problems occur, and provide assurance that they are adhering to the myriad of state and local regulations. Failure to comply with regulations can often result in fines, shutdowns, license revocation and even prison.

Additionally, banks, insurance firms, accountants and real estate developers can use CannaScore as a tool to ensure that their clients operating in the cannabis sector are in compliance as mandated in the Cole Memo and finCEN Guidance.

CannaScore is easy to use, and quickly analyzes compliance that exceeds state parameters. The system also produces a score, which is useful for anyone in the cannabis industry, including consumers, to quickly evaluate the quality of an organization.

“Companies that score high may be more likely to attract funding, obtain favorable rates, demonstrate reliability to landlords, and even attract new customers,” Smith said.

CannaScore Offers Free Compliance Auditing Tool After Bank Revoked Its Credit Card Processing Privileges

COLORADO: CS Compliance Systems, developers of CannaScore – the world’s first real-time regulatory compliance auditing application for the cannabis industry, announced that its credit card processing privileges were revoked after their bank realized that CannaScore was providing services to the marijuana industry. In response, the company announced that it is now offering its products free of charge, on a limited basis.

“It is absurd that we had our credit card processing revoked,” said Thomas Smith, Managing Partner of CS Compliance Systems. “CannaScore is a software application that helps cannabis businesses stay compliant with the complex web of regulations that govern this sector. Ironically, some of our biggest customers are banks, because they like to use our auditing tools to give them assurance that their cannabis-based business customers are following all regulations.”

After the company had its credit card processing revoked, management decided to offer the award winning product suite at no cost, for a limited time. Cannabis growers, producer processors, dispensaries, retailers, extract and edible manufacturers, along with those that do business in the marijuana sector, including insurance companies, landlords, and yes, banks, can now visit the CannaScore website and use the system for no charge.

“Our team comes from within the compliance and cannabis industries,” Smith said. “We are not Wall Street outsiders. We are a team of dedicated professionals that knows this industry inside-out, and has developed an innovative program designed to protect cannabis-businesses,” he added. “Now we share some of the same challenges with banking that our customers face on a daily basis.”

To take advantage of the free use of the CannaScore system, log on to www.cannascore.net and follow the link to “Free Trial.”