Mike Rego’s path to the medical marijuana industry is unique. In a former life as a Newport, Rhode Island police officer (and later narcotics detective), he arrested cannabis producers – now he protects them.

His career in law enforcement began in 1993 as an officer for the Newport Police Department. In 1998 he was promoted to narcotics detective, a role he served in until 2010 when he was forced to retire following “numerous” knee surgeries. In an effort to treat his injuries he began acupuncture and it was his acupuncturist who ultimately approached him about working on a medical dispensary venture in Rhode Island.

Almost every founder encounters the same dilemma: when your startup has no track record and no revenue to convince funders that it’s worth their time, how much money should you ask for?

You may think that shooting high will make your company seem more valuable, or that lowballing it will attract investors because you’re not asking for much. But either scenario could make potential funders cautious about opening their wallets.

If you’re already sitting at the table with potential investors, you have a shot. Here’s some advice about how to secure the financing you’re looking for.

How much is your company worth?

The number of women in executive positions in the legal marijuana industry is far greater than the average for other businesses in the United States.

According to a new survey by Marijuana Business Daily, women hold 36 percent of leadership positions--owner/founder, CEO, or president--across the cannabis industry. The average for all U.S. companies is just 22 percent, according to Pew Research.

When broken down by sector, the numbers get interesting. Testing labs had the highest level of women executives, at 63 percent. The sector with the lowest level was investment firms, with 28 percent.

Change is inevitable, so you need to be prepared to manage your business' evolutionary stages

ow aligned is your culture with your strategy? Few leaders are unaware of Peter Drucker’s famous saying, “Culture eats strategy for breakfast.’ Yet few pay purposeful attention to culture—a potential mistake. Ignoring culture leads to an organization’s demise.

It’s tough to put your finger on organization culture like you would many other things in business—it can feel nebulous and illusive. Leaders often feel that culture cannot be managed, but this view leads to complacency. Left unattended company cultures evolve into weedy gardens that choke out the execution of strategy.

Marijuana entrepreneurs saw their hopes go up in smoke Tuesday, as the Colorado Springs City Council voted for six-month moratoriums after hearing hours of testimony.

The final vote on a timeout for cannabis clubs was 7-2, with Councilors Bill Murray and Helen Collins dissenting.

But a preliminary vote on medical marijuana businesses split the council 5-4, with Murray and Collins joined by Councilman Tom Strand and President Pro Tem Jill Gaebler in the minority.

The difference between the two categories was underscored when the council, at Councilman Keith King's behest, amended the medical marijuana moratorium to ensure that it will not exceed six months.

MARION — The first medical marijuana dispensary registered in Illinois hosted a ribbon cutting Tuesday to signify it is ready for business.

One problem: There is no product to sell.

Harbory dispensary Co-Owner Michele Koo said the dispensary is expecting to receive product in November.

The fact there isn’t product didn’t stop a dual celebration from the Marion and Carbondale Chambers of Commerce announcing the dispensary’s opening.

Ashley Gott, Marion Chamber of Commerce chairman, said the chamber welcomes all businesses. He said this particular one could help several people.

A product called Cannabis Energy Drink went on sale at some supermarkets in Western Australia recently and has been met with a range of reactions.

The company behind the drink is marketing it as an alternative to popular energy drinks like Red Bull and Rockstar, advertising it as a “high quality energy drink with a twist,” according to the Daily Mail.

Watch: Bizarre Cannabis Energy Drink animated video

Get ready for some corny “peace pipe” jokes because Native American tribes are jumping on the weed wagon.