Hailing from Missoula, Montana, Morgan had plans of becoming an electrician (in between working shifts at the local RV dealership). As time passed, it was apparent that neither of these “jobs” would satisfy his entrepreneurial mind and desire to build something bigger than himself. So, he got into real estate, where he excelled until the recession put a halt to his business model.
Shortly after, Morgan decided to combine his knowledge of farming — with a passion for being his own boss — and make his move in the new gold rush: cannabis. In just ten months, his first-ever cannabis endeavor grew from a single plant to a 15,000-square-foot operation, making it one of the largest in Montana. Soon after, Morgan was met with a legal obstacle: the state legislature forced Morgan to shut down his budding empire. Down, but never out, Morgan was immediately on the lookout for his next opportunity and he moved to Arizona to make it a reality. With some local connections, he was able to acquire one of only 131 marijuana business licenses in the state, allowing him to open a chain of hydroponic stores.
After learning how to successfully operate in his new state, Morgan and a business partner started Bloom Dispensaries. In less than a year, Bloom had more than 100 employees and was garnering north of $1 million in sales each month. Morgan then moved on from Bloom to start Reef Dispensaries and Tryke Industries with a new investment team and aggressive growth strategy. Under his experienced leadership as CEO, Reef grew to six retail locations, two manufacturing plants, two laboratories, and more than 400 employees. Morgan went on to partner with well-known moguls to co-found Ignite Cannabis Co. and Green Axis Capital Corporation. Today, Morgan is working as a consultant and serving as the CEO of OneQor.
How did you get started in cannabis?
I was born and raised on a farm in Montana. I fully immersed myself in space in 2008. I started with a patient card growing in my garage. I made every mistake you could make as a rookie cultivator. It was much harder than it appeared. Within a year and a half, I had one of the largest most sophisticated cultivations in the state of Montana. From there I went on to build some large MSO cannabis companies in Arizona, Nevada, and California. Bloom Dispensaries, Reef Dispensaries and Ignite.
How did your company get started?
TerraTech was formed in 2012 by two investment bankers out of Morgan Stanley. It was the first publicly-traded company to touch the plant. They’ve had a great 8 year run with the company. More recently the company has fell victim to the macro market conditions. The Board decided to bring me in as CEO to turn the company around to profitability.
What areas of the cannabis industry do you and your company specialize in?
TerraTech is a multistate vertically integrated cannabis company. We specialize in Genetics, cultivation, production, retail, branding and experiential treatment. We are working on some new initiatives to disrupt the cannabis vertical.
What do you think is the next big thing in cannabis, and for your company?
Consolidation of distressed assets with a massive overhaul and rebrand.
How does your company differ from the others in cannabis?
We create the experience and drive off of the culture.