@cannabit: Any update on the current status of the farm and on the dividends?
I'm betting some "unforeseen" incident cropped up. If the average small business is run like this then it's not surprising that so many of them go out of business within a few years of opening.
Perhaps the SEC or some other state securities regulator contacted him for failing to file his offering at the appropriate venue.
Say he was a compliant grower in a recreational legal state such as Oregon, Washington, D.C., etc. Would he be violating federal law if he issued and filed securities legally with a state entity and allowed only investors from states which recreational marijuana is legal to invest (assuming they meet the accredited status set forth in such securities laws)?
Would a federal agency have jurisdiction then if said security qualified for the appropriate exemptions to not be registered with the SEC?