DALLAS, September 26, 2023 – CTrust, the pioneering credit scoring and monitoring agency for cannabis enterprises, has unveiled CTrust Services, a consulting division dedicated to managing distressed assets within the cannabis sector. This expansion is a response to the alarming distress facing a significant majority of cannabis startups, where 75% of industry startups are currently in distress.
Leveraging CTrust's cutting-edge scoring and monitoring technology, CTrust Services offers objective, data-driven analytics and expert guidance to cannabis creditors and stakeholders tasked with handling distressed cannabis assets. Additionally, CTrust Services builds upon CTrust's proprietary auctioning technology platform, Cobra, which has already been court-approved and used to auction over $12 million worth of cannabis assets during its initial testing phase.
In conjunction with this launch, Dotan Y. Melech, a founding member and former COO, assumes the role of CTrust CEO. Ted Robinson, a veteran in the legal cannabis and mortgage industries, joins as the Chief Business Development Officer and Managing Director of CTrust Services. Mitch Harhay, formerly CTrust's CTO, is promoted to the position of CTrust Chief Operating and Technology Officer.
Melech stated, “The cannabis industry is facing a critical need for distressed asset management, receivership, and company restructuring services. Our technology, team, and services are uniquely positioned to meet this demand and provide cannabis businesses with equitable access to funding while helping lenders navigate a risky market.”
Giadha A. DeCarcer, a founding member and former CEO, now shifts her focus to support female entrepreneurs worldwide by building a foundation that revolutionizes non-profit funding acquisition and distribution. Combining CTrust's investment risk algorithm with her passion for women in business, DeCarcer aims to create an equitable, scalable, and self-sustaining model.
DeCarcer remarked, “With the incredible team at CTrust, we have brought the cannabis industry's first credit scoring and monitoring solution to market. I am thrilled to pass the baton to my dear friend and business partner Dotan and pursue my commitment to improving the business climate for women entrepreneurs worldwide.”
CTrust Services offers cannabis receivership services and unbiased, data-driven information to cannabis creditors and stakeholders dealing with distressed cannabis assets. CTrust's tools and solutions enhance operational and financial transparency, reduce investment risk, and facilitate equitable business, investment, and debt financing opportunities in the cannabis industry. Launched in 2022, CTrust empowers cannabis businesses and investors to navigate the evolving market landscape effectively.