When the Department of Justice (DOJ) released their latest memo to federal prosecutors on how to handle state-regulated marijuana distribution, it marked a second round of change for federal enforcement policy. No longer will the centralized distribution centers established by states to provide safe access for patients automatically be targets for federal raids and prosecutions. The landlords who rent space to them will no longer be threatened with the seizure of their property. And the elected officials and government employees tasked with licensing them will no longer be threatened with injunctions and criminal indictment for implementing duly enacted laws. As long as everyone satisfies the DOJ's eight guidelines, that is.
That left everyone involved with some questions about what satisfying those new federal guidelines will look like. The memo is a bit more detailed than the Obama Administration's two previous directives, but it still lacks specific metrics, as the senators questioning the memo's author before the Judiciary Committee made clear. At that hearing, Deputy Attorney General James M. Cole, the DOJ's second-ranking official, conceded such metrics would be helpful for evaluating the medical cannabis laws in the 20 states and the District of Columbia with current programs, not to mention the several states with pending legislation. But he couldn't offer any. The best he could do was say the DOJ is working on it, a full year after voters in Washington and Colorado forced the federal government's hand by making marijuana legal for all adults.
Can you imagine? (LOL)
Hypocrite! Posting here means you are looking back. That is of course, IF, you got out at .34, which is highly doubtful.
Poised to bloom into a $10.2 billion market by 2018, marijuana sales will likely outpace the growth of smartphones, according to ArcView Market Research.
After conducting more than 400 surveys and interviews with cannabis retailers, cultivators, processors, and industry leaders, the second State of Legal Marijuana Markets report, released Tuesday, estimates the U.S. cannabis industry will hit $1.43 billion in sales in 2013, further growing to $2.34 billion in 2014. According to the report, more than 590,000 Americans will have purchased marijuana legally from a retail storefront by the end of this year.
California continues to lead the largest pot markets in the country with $980 million in marijuana sales, but the weed business is fastest growing in Arizona, expected to reach $134 million next year, up from $22 million in 2013.
Bullish on the marijuana industry, the report, from the research arm of the cannabis investor network ArcView Group, predicts 14 additional states will legalize adult use of cannabis and two more states will legalize its medical use in the next five years. Despite this progress, ArcView says regulation and restrictive patient access in New Jersey, Maine, Delaware, and Washington, D.C. will limit the market's potential in those states.
Steve Berg, the report's editor and former managing director of Wells Fargo, says these figures show signs of market maturity, noting some companies are "poised to reach large rewards from this historic period of rapid growth." While marijuana startups have been primarily focused on ancillary businesses, such as providing security systems for growers and dispensaries, investors and entrepreneurs are beginning to consider businesses that "touch the plant" now that the feds have eased up on enforcement.
Google it: Cannabidiol (CBD) Makes Its Way To The Forefront. Obviously, we must set our sites on CBD sales, not Dixie THC infusion products. Apparently a lawsuit between the two companies is set to happen. Still, they say this will move back into single digits without Department of Justice announcements. Considering the benefits of CBD and high profile attention it is getting, this WILL succeed eventually. Keep the faith!
and yet unfortunately, his readership is vast for those who lack confidence, and crave conviction.
Yet, it is unfortunate the board has a lot of influence on those craving knowledge, confidence, or conversion.
I agree with you one hunderd percent Morgan. That guy has it in for this company, and the minute fortunes change (ie Dept of Justice ruling), he seems to have an epiphany regarding the potential. He is out for MJNA at all costs.
Throwing it under the bus whenever possible.
As I have discussed previously, MJNA is doing a much better job of marketing its CBD-based products. CBD, which is short for cannabidiol, is one of over 70 cannabinoids in marijuana and is becoming quickly appreciated for its potential health benefits without any known risks or side effects. Just this week, the FDA granted orphan designation to GW Pharma (GWPH), which had I profiled days earlier, for its Epidiolex, a CBD-based treatment for the treatment of childhood epilepsy.
At this time, MJNA, through its HempMedsPX subsidiary, is one of the only companies in the world that can legally ship high-CBD hemp oil products to anyone in the U.S. and over 40 countries. I have identified a Washington-based company, Canna-Pet, which is producing products for dogs and cats (and soon for humans), but its cost is much higher. I also spoke with the owner of Gaia Botanicals, who is buying Real Scientific Hemp Oil from CannaVest and creating tinctures and reports that he has seen demand that has far exceeded his expectations. He also told me that he has been unable to find a lower-cost provider. This is quite exciting, as it is one of the first wholesale clients of CannaVest. I understand that there are others as well.
Many people not familiar with the laws don't understand how these products are created legally. According to a representative of MJNA and consistent with what I have learned from conversations with others, it is legal to import industrial hemp with low THC concentrations and then to extract the CBD. In states with #$%$, the CBD can be extracted from domestically grown cannabis. Of course, this isn't available in the majority of states and is somewhat of a hassle to obtain relative to the convenience of FedEx shipping provided by HempMedsPX right to one's door.
In any event, since HempMedsPX began its aggressive marketing efforts, sales have started to pick up. This was seen to a limited degree in Q3, but recall that the media attention began in mid-August. The demand has started to pick up, and CannaVest has created many products, including replacing most of the Dixie Botanicals lines (not the 25mg capsules yet, but they should be available in early December) with Cibdex but also launching a line of new personal care items (Cibaderm). Additionally, the HempVAP "Brain Dart" is a novel new product that could actually help people quit smoking (being able to use an e-Cig satisfies an urge, while ingesting CBD helps break nicotine addiction).
With a better go-to-market strategy that could also lead to placement in a national retailer (this would be big), a lead over potential competitors, and rapidly increasing awareness about the potential health benefits of CBD, MJNA is poised to benefit from another important trend as well. Many states are considering legalizing hemp production, and this would help drive down the input costs significantly. This would probably help with the CanChew gum, which, as I described above, has been slow to take off. Additionally, as CannaVest gains scale, it should be able to lower production costs per mg of CBD as well.
Regardless of what one thinks of Seeking Alpha's opinions, they have a broad readership. It will take an announcement from the Department of Justice to ammend banking laws in order to spike this thing any time soon IMHO. My buy in @ .135 this morning does not look to fare well, but who knows?
WASHINGTON -- During Prohibition, when booze was briefly outlawed by a constitutional amendment, bootleggers began producing stronger and stronger spirits. The logic was straightforward: If you're selling an illegal product, it might as well be as strong as possible to boost the price and make it easier to ship.
The same logic has driven the pot industry to create stronger and stronger strains of weed. But is that what people want?
As the marijuana industry slowly edges its way out of the shadows, consumers, growers and proprietors are adjusting to the light. Running a business that is against federal law comes with its share of challenges. Market research is one of them.
The Global Drug Survey aims to find the answers to questions that have long gone unasked. This year's version launched this past weekend in partnership with The Huffington Post. The authors of the survey want to hear from people around the world who use cannabis, alcohol, tobacco and prescription drugs -- not with the aim of convincing them to stop, but instead of making the experience happier, healthier and safer.
Marijuana will be a major focus of this year's GDS, which asks users about the effect weed has when they smoke it. Does it make them sleepy or excited? Relaxed or paranoid?
The survey asks users to "describe their perfect smoke," said Adam Winstock, the British psychiatrist and addiction researcher who created the survey, "so we can share that information with weed growers, so they might diversify away from strong skunk weed, which we know from our other research is not what most people prefer."
Paul Schrag has a simple philosophy: He hopes to use his skills to do the most good in the world.
For a while, that meant working in journalism, enticed by its power to shape public discourse. Before being laid off in 2009, he worked as a reporter for the Business Examiner, a biweekly publication in Tacoma.
Nowadays, it means working in the pot industry.
The 40-year-old says he's been growing marijuana since 1999 and uses it to treat lifelong neck pain. He began working at a #$%$ collective, where part of his job entails coming up with a marketing and public education plan to help erase any stigma associated with cannabis use.
He believes the medical and social benefits of the plant are only just starting to be understood. He plans to work as a grower's vice president of marketing, research and development, and believes his knowledge of pot and business will help.
"I'm one of those rare cats that get both," he says.
Cecilia Sivertson worked for eight years as a paralegal in the prosecutor's office for Washington's most populous county. She helped make sure people paid child support and tracked down deadbeat dads. It was a rewarding, stressful and sometimes depressing job.
After her husband died in a car accident in 2001, she decided she needed a more upbeat line of work and joined a labeling business.
Sivertson, 55, has epilepsy and arthritis in her hands. About two years ago, she says, she noticed improvement in both when she started using marijuana. Last spring, she began making products infused with cannabis oil under her "Nana's Secret" line. Her specialty is pot-infused soda — with the soda concentrate produced by a client of the labeling business.
The Alabama native says she's applying to become a licensed marijuana processor so her sodas and other items can be sold in retail pot stores
For a guy with a uniform and a gun, Steve Smith was unusually welcome at #$%$ dispensaries. Of course, he was a security guard, not a federal drug agent.
Smith, 29, had a background in food marketing. His father worked for a large grocery cooperative in California. He earned a degree in agriculture business management and started marketing organic and natural products for a food broker. He liked thinking he was helping people eat better.
A friend who was working in security suggested Smith do the same. Looking to keep busy and make some extra money, he took his training and became a certified security guard. The company that hired him happened to assign him to a couple of #$%$ dispensaries.
"You can only work as a guard for so long before you want to open your own shop," he says. He wants to apply to open two retail marijuana shops near Tacoma.
It started with small doses that eased the aches of restaurant work. But over time, Yevgeniy "Eugene" Frid found himself addicted to prescription painkillers. "It completely envelops your whole life."
He tried to quit many times, and when he finally did, he says, cannabis played a huge role — displacing the opiates with a substance much gentler on the body.
Frid, 28, quit his job doing business management and marketing for a video game company when a friend asked him to help start a #$%$ dispensary. A Greener Today opened in Seattle in 2012 and now serves about 4,000 people.
Frid says his most gratifying work is helping patients get off opiates the way he did, so he has mixed feelings about applying for a recreational retail license. The future of unregulated #$%$ in Washington is dim — many state officials see it as a threat to the heavily taxed recreational system. Some medical dispensary operators believe they have little choice but to convert to the recreational market.
"We don't know what's happening," Frid says.
Angel Swanson was raised on the South Side of Chicago by a mother who warned: "If you see drugs, run."
Decades later, the businesswoman and real estate agent found herself in Washington state with a husband, seven children and a strong bias against illegal drugs — "the poster child for anti-cannabis," she says.
That is, until one of her daughters, who had serious digestive issues and had never weighed more than 100 pounds, came home from college one day and ate a full plate of food. The girl had tried pot-laced cookies, which stimulated her appetite. Swanson lost it.
"Do you have any idea the sacrifices that have been made for you to go to college?" she remembers saying.
Swanson, 52, did some research and couldn't find a reason for her daughter not to use weed. She and her husband opened a #$%$ dispensary, The Cannabis Emporium, near Tacoma. They now want to sell recreational pot, but hope to continue to serve patients — a challenge, since stores will be barred from trumpeting pot's therapeutic benefits.
If legal pot is the Green Rush, Daniel Curylo has some unique credentials: He's been an actual prospector.
He helped put himself through college working for a company that flew him into northern British Columbia and the Yukon with a map, a compass and a heavy backpack. He'd pan for gold and take soil samples. Another source of income in those days? Growing and selling marijuana with a few other political science majors.
A former techie and ex-house flipper, Curylo, 41, says his background in "business development and taking risks" is perfect for the legal pot world.
He has invested $400,000 so far. His goal? A cannabis business park northwest of Olympia that would feature his growing operation, Cascade Crops, as well as retail stores run by his mother, father and aunt.