Despite issues with Metrc, the sales and cannabis tracking system used by the Cannabis Regulatory Agency, the CRA has extended its license with Metrc, according to a Metric press release.
Last month, Metrc threatened to shutter the accounts of more than 100 Michigan cannabis companies over missed monthly payments, creating turmoil in the roughly $2.5 billion market.
The CRA convinced Metrc to agree to a 30-day moratorium on the suspension of accounts, MJBizDaily reported.
A widespread shuttering of accounts would have jeopardized the operations of many plant-touching companies, which rely on Metrc software to comply with Michigan marijuana regulations.
The software is used to track the movement of marijuana products through the commercial supply chain, from cultivation to sale.
“We reached out to Metrc and asked for a 30-day extension for this, and it was granted,” David Harns, spokesperson for Michigan’s Cannabis Regulatory Agency, was quoted as saying earlier.
“Metrc is trying to enforce payment terms.”
The Florida-based company told MJBizDaily that roughly 11 percent of its customer base had bills outstanding.
According the CRA Michigan had roughly 1,250 cannabis businesses in Michigan, so more than 125 companies could have received payment notices.
But now Metrc in a press release announced the CRA extended its contract with Metrc, despite the snafu.