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Cannabis CFO
Accounting and Finance

DenisCannabis CFO with an efficient and hands-on leadership style

Relevant Skills

Implementing new systems under tight deadlines, leading acquisitions, minimizing unnecessary liabilities

Expertise Summary
  • Denis’s first big success in the cannabis industry was implementing a mid-market cloud-based ERP system for a cannabis company.
    • They had a tight deadline and needed to transition to a new system within 3 months and do it during its first year of the public company audit.
    • Denis was the primary resource managing the company’s audit and balanced this with a successful implementation of a cloud-based financial management platform along with an implementation consultant.
    • The system served the company well for 6 years until graduating to a system more tailored to inventory and manufacturing functions.
    • He continued to be the system champion by building out workflows, system controls, and reporting using reference material available within the system help functions.
  • Denis led the acquisition of a 5-store cannabis retail chain.
    • This was a transformative acquisition as it was directly accretive to EBITDA and drove scale and leverage for the company’s vertically produced flower, vape, and edibles products.
    • He also led the acquisition of a 4-store chain that closed in the second quarter of 2022 with the goal of further scale.
  • Denis slowly built out the finance function at a cannabis company from 2016 through 2018 from 1 to 8 FTEs.
    • He added much-needed stability and regimen to the existing short-tenured team and maintained limited turnover through the 2020 audit in 2021.
    • His unique roll-up-your-sleeves, priority-driven servant leadership style motivates lean teams, tackling broad functional scopes while staying focused on the important details.
  • Denis led the implementation of a strategic approach to 280E taxation aimed at minimizing the onerous impacts of the code section within the bounds of well-documented and reasonably defensible tax position.
    • This limited the accumulation of unnecessary tax liabilities on the balance sheet while avoiding uncertain tax position disclosures.
  • Legal management and secretarial functions were insourced in 2020, led largely by Denis’s office.
    • This led to an increased focus on accretive transactions and a rational approach to resolving minor legal disputes to drive focus toward forward-looking business progress instead of legacy conflicts.
    • It also minimized legal expenditures and maintained reasonable levels of governance and disclosure.

2022 Tri-State Cannabis Salary Guide

Salary guide download for the Tri-State cannabis market

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2024 Cannabis Industry Salary Guide

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