Signal Bay, Inc. announced their acquisition of Oregon Analytical Services, a full service cannabis testing facility. Signal Bay subsidiary EVIO Labs will take over full management and operations of Oregon Analytical Services, (“OAS”). OAS boasts a client base of over 500 cultivators, extractors, processors, edible manufacturers, and dispensaries built up since 2014. This strategy makes a lot of sense for Signal Bay as testing services have been touted as a strong and safe growth area in the marijuana marketplace.
One of the interesting side notes that you won’t see in the press releases is that Oregon Analytical Services had been served a whole host of tax liens by the Internal Revenue Service and the Oregon Department of Revenue totaling over $35,000.
Here are some links to selected filings:
- IRS Tax Lien: for the tax period s12/31/14 and 3/31/15
- IRS Tax Liens for the tax periods ending 6/30/2015 and 9/30/15.
- Oregon Dept. of Revenue: for the tax periods 12/1/2014 and 3/1/2015
Given that half of these liens were filed two weeks ago I wonder how all these tax bills factored into the purchase and sale of OAS?
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Ed Keating is a co-founder of Cannabiz Media and oversees our data research and government relations efforts. He has spent his whole career working with and advising information companies in the compliance space. Ed has overseen complex multijurisdictional product lines in the securities, corporate, UCC, safety, environmental and human resource markets and focuses on workflow products. Ed has spent the last twenty five years in the information industry. During that time he has worked for both startup and established information companies where he has led marketing, product management and sales organizations. These companies include Wolters Kluwer/Commerce Clearing House, CT Corporation, EDGAR Online and Business & Legal Reports. At Cannabiz Media Ed enjoys the challenge of working with regulators across the country as he and his team gather corporate, financial, and license information to track the people, products and businesses in the cannabis economy. Ed graduated from Hamilton College and received his MBA from the Kellogg School at Northwestern University. He has been active with the Software & Information Industry Association for his whole career and managed the Content Division for six years. He’s was recently a Trustee at the Country School in Madison CT and a Little League Coach for seven years.