FinCanna Investee ezGreen Compliance Launches Taxation Reporting Technology
ezGreen Adds Critical Taxation Feature to its Proprietary Compliance Platform
VANCOUVER, British Columbia, Oct. 11, 2018 (GLOBE NEWSWIRE) — FinCanna Capital Corp. (“FinCanna”) (CSE: CALI) (OTCQB: FNNZF) a royalty company for the U.S. licensed medical cannabis industry, announces that its investee company ezGreen Compliance (“ezGreen”) which provides a state-of-the-art enterprise compliance and point-of-sale (POS) software solution for licensed medical cannabis dispensaries and cultivators, has expanded its proprietary Business Intelligence Dashboard (BID) with the addition of a new comprehensive taxation feature to automate essential revenue reporting functionality.
Testing with a cannabis management company carrying a portfolio of over 30 dispensaries in the state of California, the company believes it is the only comprehensive tax reporting solution in the market. ezGreen’s new proprietary taxation functionality resolves the problem of labour intensive, error prone manual inputting of key financial data as it is designed to ensure that critical financial information is instantly captured and seamlessly organized for complex municipal and state tax reporting. ezGreen’s automation of the state taxation formulas are customizable to track both municipal and state requirements around sales and excise taxes.
ezGreen intends to roll out this new taxation feature as a fully integrated component of its Business Intelligence Dashboard to the company’s affiliate network which includes a pipeline of over 200 dispensary client locations.
With 30 states in the U.S. having some form of cannabis regulatory policies in place, navigating through state by state license, tax and compliance issues has been challenging for the legal, medical cannabis industry. ezGreen’s, Business Intelligence Dashboard is a proven front-to-back compliance solution that supports both the Health Insurance Portability and Accountability Act (“HIPAA”) and state laws by ensuring secure customer data storage and transmission that protects customers from potential security breaches and financial and criminal liability resulting from such violations. Other ezGreen BID platform features include, free custom business analytics, managed workflow capabilities and third-party inventory validation allowing for real-time reporting and cross referencing of seed-to-sale and point-of-sale databases.
Additionally, ezGreen Compliance is working with several State Cannabis Control Boards on developing opioid diversion strategies by setting secure reporting mechanisms, integrating with ezGreen’s BID platform to track essential inventory and sales data.
“Compliance reporting is becoming a “must have” for every business in the cannabis industry,” said Andriyko Herchak, President and CEO of FinCanna Capital. “We believe ezGreen is clearly the industry leader in the compliance software space as evidenced by their superior Business Intelligence Dashboard which now incorporates a mission critical taxation reporting solution. Compliance reporting is an enormously lucrative space and we are confident ezGreen will deliver outstanding results for our shareholders.”
Specifically developed to address the needs of the cannabis Industry, ezGreen Compliance is a 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 16 years which currently supports 3,500+ active physician operated clinics and dispensaries, all while maintaining HIPAA compliance following essential Health and Human Services standards in the United States.
About ezGreen Compliance
ezGreen Compliance, located in Fort Lauderdale FL, provides through its ezGreen software technology, a proven state-of-the-art enterprise compliance and point-of-sale software solution for licensed medical cannabis dispensaries and cultivators. Navigating through state-by-state license, tax and compliance issues has been challenging for the legal cannabis industry. ezGreen Compliance helps its 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. For more information around a HIPAA compliance strategy for the Cannabis industry, please visit www.ezgreencompliance.com.
About FinCanna Capital Corp.
FinCanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on revenues. FinCanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in scalable, best-in-class projects and companies in U.S. legal states, with a focus on California. For additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com.
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 statements, other than statements of historical fact, included herein including, without limitation, statements about the market for, and effectiveness of, ezGreen software, the ability of ezGreen Compliance to expand operations and generate sales and revenues, the results of operations of Chameleon Collective, FinCanna’s ability to fund and source future projects, and FinCanna’s ability to earn and realize revenues from its investee companies. 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.