Dope division preps for change in bud biz

177098452The Colorado Department of Revenue announced Tuesday that its Marijuana Enforcement Division is working with industry partners to ensure a smooth Jan. 1 rollout of the state’s retail bud business.

A key element to the success of the transition, according to the news release, is the use of a Marijuana Inventory Tracking System for both medical and retail cannabis. The system uses Radio Frequency Identification tags on each product in order to track sales.

The tags are provided by Florida-based firm Franwell.

“The Division and Franwell have made every effort to ensure that all retail and medical licensees have the proper RFID tags provisioned to them to ensure a smooth transition into the MITS system prior to roll out,” the release said.

However, due to inclement weather, high shipping demand and delays, some licensed vendors may not receive the RFID tags prior to the start date.

“As a result of these challenges, and recognizing the importance of providing every Medical and Retail Licensee that has met all other requirements the opportunity to operate, the Division has developed alternative procedures to allow qualifying Medical and Retail Licensees to move forward on January 1, 2014,” the release said.

“These procedures will ensure that Licensees maintain a full accountability of their business operations without limiting the Division’s ability to effectively regulate the industry during this transition period.”

Franwell has shipped more than 2 million RFID tags to both medical and retail vendors across the state, 1.6 million of which have been received. Nearly 1,400 facilities have activated MITS accounts to prepare for the start date.