SOURCE: Blue Line Protection Group

Blue Line Protection Group

March 19, 2015 09:00 ET

Blue Line Advisory Services Provides Complete Bookkeeping Solution to Cannabis Industry

DENVER, CO--(Marketwired - Mar 19, 2015) - Blue Line Protection Group, Inc. (OTCBB: BLPG) (OTCQB: BLPG), a leader in providing regulatory compliance, security consultation and protection services to high-value asset industries, today announced the formation of Blue Line Advisory Services, Inc., a wholly-owned subsidiary created to respond to the licensing and bookkeeping needs of lawful marijuana businesses across the nation.

Blue Line Advisory Services provides complete bookkeeping services tailored to the highly regulated cannabis industry. "This industry operates primarily through cash transactions, which doubles or triples the bookkeeping requirements of these businesses," said Sean Campbell, Blue Line Protection Group's Chief Executive Officer. "By consolidating these under our umbrella of cannabis due diligence services, we can ensure our clients are operating completely transparent businesses and are able to respond to all reporting requirements of state and federal licensing and regulatory agencies. This, in turn, provides a more economical solution for our clients."

Blue Line Advisory Services will provide lawful marijuana businesses access to experienced bookkeepers and audit protection advisors. Its financial professionals, trained in the unique reporting requirements of cannabis businesses, minimize the burden of maintaining complex financial records.

"While serving our customers' compliance needs, we quickly became aware that they were underserved by their existing bookkeeping services," added Mr. Campbell. "Those services may have been fine in a normal business setting, but the nature and intricacies of the marijuana industry demands more precision and responsiveness. Blue Line Advisory Services fulfills that need."

"Our goal is to streamline and simplify the day-to-day bookkeeping duties these businesses face," said Patrick Deparini, Blue Line Protection Group's Chief Financial Officer. "By doing so, we reduce our clients' operating costs, we help ensure their compliance with the myriad of local, state and federal regulations, and we provide them with peace of mind with our guarantee of audit protection services."

Blue Line Advisory Services' team of financial and accounting professionals offer:

  • Licensing and insurance administration and compliance
  • Bank activity reconciliation
  • Daily point-of-sale system validation
  • Payables and receivables organization and resolution
  • Payroll and time sheet entry, correction and validation
  • Federal and state payroll withholding and unemployment tax deposits and reporting
  • Monthly sales tax deposits and quarterly sales tax returns and state franchise tax deposits
  • Reconciliation of checking, merchant processing accounts and company-held credit-cards
  • Bi-weekly point-of-sale reports and after-hours backups
  • Expense accounts and quarterly reports
  • Reconciliation of whole-chart accounts
  • ... and much more.

"Blue Line Protection Group established itself as the leader in cannabis protection and compliance services. With Blue Line Advisory Services, we knew we could take that a step further by offering complete turnkey bookkeeping solutions as well," added Mr. Campbell. "Blue Line Advisory Services takes care of the details to protect the clients licenses so our clients can focus on building strong and legitimate businesses. By doing so, we can help our clients respond to the due diligence requirements as stated in the Cole Memo, FinCEN and BSA regulations to help them form strong, trusted and lasting relationships with banks."

About Blue Line Protection Group, Inc.

Blue Line Protection Group provides secured transportation, state and federal regulatory compliance, security consultation and training, and professional protection services to high-value asset industries. The company's security operators, investigations personnel and consulting staff are highly trained professionals with significant experience in law enforcement and the United States armed forces. For more information, visit www.BlueLineProtectionGroup.com.

Safe Harbor Statement

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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