“What we’re seeing right now is a combination of hesitancy of the investors within the cannabis space, generally, over the last six to eight months, and that, combined with the current investment freeze that has been occurring due to this outbreak, means there is no more water left in that well,” Livingston said.

“If you don’t have any more potential investment to keep your lights running and you’re not making enough money to continue to pay your staff, you have to close. There’s no other option," he said.

And that further compounds things for the Quad-Cities market, because Illinois operators may want to instead focus resources there, because of the robust medical program and growing adult-use market.

Livingston further said the reduction in assets within the cannabis business segment is something Iowa, and its legislators, need to be cognizant of moving forward.

“Iowans understand business and they understand tight profit margins, because it’s a farming state. And they understand business needs a certain amount of revenue to run and pay its employees, particularly when you’re setting up a new system that’s restrictive,” he said.