AMSTERDAM, N.Y. (NEWS10) – A settlement in principle has been reached in a lawsuit that halted the further openings of retail cannabis shops across the state.  It has been nearly four months since the New York Supreme Court ordered an injunction to stop the application process for those looking to open a pot shop.

“We can only go for so long. You know a couple more months and you know we’re going to be really down and out. I don’t know what we’re going to do,” said Tony Marcellino, Chief Operating Officer of Amsterdam Cannabis.   

The Marcellino brothers, owners of Amsterdam Cannabis, say they have lost over $30,000 and that they stand to lose thousands more if not opened by the end of the month. “National Grid bill is $100 a month, $100 for the internet bill. Staff training was like 2500, rent is $4,000 a month or $32,000 more in the hole then we should have been. December 1st is right around the corner, and I have to write more checks then. So, we’re some $40,000 in the hole,” said Marcellino. 

Mayor Michael Cinqaunti says he stands behind the new business, but he also questions the state leadership when it comes to getting this tax revenue flowing.   “I am not pleased with how OCM has handled the licensing procedure in our state. The people in Amsterdam that received the license invested a lot of money and are ready to go with a very well-managed facility. They were given commitments and promises from OCM, that OCM has not followed through on,” said the Mayor.

Cinquanti says it is more than revenue, but more of a safety concern. “The money is secondary. Because our citizens, our residents who want to partake in that are going to go someplace to buy it. But if they buy it here at least we have the tax revenue and we, do it in a very regulated way.”

CEO, Thomas Marcellino, says support is one thing, but he says he is just itching to get started selling. “It’s great having the mayor’s support he’s been a ton of help but it’s not doing much when the state doesn’t really allow us to move forward, I’m happy we got the support but we’re kind of stuck,” said Marcellino.

The terms of the settlement are not yet public because the parties involved must finalize the agreement and a judge would need to sign off before making any further moves to open shops in New York.