CannaVest Corporation this week reported financial results for the third quarter 2014. During the third quarter, CannaVest terminated its non-exclusive license and distribution agreement with HempMeds PX, LLC, which had granted HempMeds a non-exclusive, worldwide license to promote, market, sell distribute and service CannaVest's products and an exclusive right to online sales.
"The HempMeds Agreement termination resulted in a significant revenue loss for the Company but provided an opportunity for CannaVest to better control its sales channels, brand awareness and future profitability without having to rely on a single customer relationship," the company reported. "The termination also allowed CannaVest to pursue revenue from online sales."
"Our worldwide commitment to expanding the science, awareness and benefit of our PlusCBD™ brand of cannabidiol oil and products is gaining traction," said CannaVest CEO Michael Mona Jr. . "The termination of the HempMeds Agreement required that we immediately expand our sales and marketing capability to better control the growth trajectory of CannaVest.
"We have expanded our sales force, commenced e-commerce operations and have made strategic marketing investments," Mona said. "Since the termination, we have made great progress.
By Steve Elliott
Photo of Joy Graves by Scotta Callister/The Blue Mountain Eagle
Two Oregon activists who was busted for a 13-plant cannabis patch last June are arguing that charges should be dismissed on the grounds of freedom of religion.
Attorneys for Joy Graves and Raymond Martin argued that it wasn't an illegal marijuana grow, but rather a sacramental cannabis garden protected by the law and used in the rites of their branch of the Oklevueha Native American Church, reports The Blue Mountain Eagle.
Martin's attorney, Robert Raschio, and Graves' attorney, Timothy Gassner, argued that the case conflicts with their clients' right to religious freedom. But Deputy District Attorney Matthew Ipson said that state law prohibits marijuana grows within 1,000 feet of schools as "a statute of general applicability."
In court filings, Ipson argued the state’s interest in restricting marijuana near schools is compelling, and that “the statute is applied equally without regard to religious beliefs or affiliation.”
Cleveland Hunger Network Partners with New Omega-Fats Initiative for Mental Health Month
Twenty States Have Legalized Industrial Hemp By Wide Margins, With Major Health Institutions Giving the Nod to Hemp's Protein-Rich Nutrition
With interest in food, farming, wellness, and all-things-cannabis are on the rise, industrial hemp is attracting a fan base broader than "hipsters" and vegetarians that may first come to mind. Major health institutions are now on board, giving the nod to the nutritional quality of hemp's protein-rich seeds, and assuring people eating them will not cause failed drug tests.
The productivity of Canadian hemp producers has gone up in recent years, bringing more affordable hempseed foods to grocery stores and vitamin websites. Politically, hemp is a rare bipartisan issue, as evidenced by the 20 states that have legalized the crop by wide margins, defining it as a distinct variety of cannabis sativa, having .03 percent THC or less (no drug/narcotic value).
This is welcome reform for Plant Kingdom Bakery owner Jeremy Koosed, who claims to have discussed the subject of hemp for nutrition with hundreds of thousands of people. For the past five years, the Lyndhurst-based "snackery" has been onhand with hempseed foods and information at community festivals and farmers markets. Coffee shop baristas have also helped clarify the subject for customers, as Phoenix Coffee locations in Cleveland and Nervous Dog in Akron have made Plant Kingdom snacks available since 2009.
That subsidiary is Cubic Designs, Inc., a unit of Berkshire's MiTek business, which specializes in making platforms that maximize floor space in warehouses. Recently Cubic Designs sent fliers to marijuana dispensaries with offers to help them expand the number of plants they cultivate. The fliers say that Cubic Designs can help double their growing space and improve their profits.
AVT, Inc., a design integrator and manufacturer of high performance automated retailing systems, custom vending machines, and compliance and control mechanisms for the rapidly growing legal cannabis industry, commented on the news that Buffet's company has entered the legal marijuana industry.
As reported in Marijuana Investor News, there is a growing acceptance of marijuana. "Not too long ago, this kind of effort was unfeasible for a major corporation," the report stated. "It has become much more acceptable in the United States."
MedMen, a turnkey management company providing services for the cannabis industry, on Thursday announced that it has secured $3.75 million in financing to launch operations in the states of Nevada and Illinois.
The funds will go toward corporate infrastructure and regional MedMen offices in the two states. MedMen's clients have been awarded an unprecedented 13 licenses for medical marijuana businesses in Nevada, and have 12 applications pending state licensure in Illinois.
The funding represents the largest capital investment ever in a full-service cannabis management firm. Financing came from several backers, the largest being N Squared Management.
"Our investment in MedMen is based on our assessment of the dynamic growth potential of the marijuana industry," said Fred Portnoy, president, N Squared Management. "It also reflects the excellent record that MedMen has established in helping more than 100 businesses navigate and succeed in the legal marijuana market."
The initial $3.75 million investment will be followed by a second round of capital raising, with those funds earmarked to expanding the infrastructure and support for MedMen's clients as they ramp up their operations in Nevada and Illinois. MedMen will be establishing regional offices in those states to be staffed by executive management that reports back to the LA-based headquarters.
Plans Expansion of Line Of Hemp CBD Oils to Compete with Leading Pharmaceutical Products
Florida-based nutraceuticals company Zappy, Inc. has agreed to acquire Browns Botanicals and plans to release proprietary hemp CBD formulations for potential aid in various ailments including anxiety, insomnia, fatigue, nausea, pain and other ailments.
The formulations were developed using Hemp CBD Oil derived from industrial hemp, which it says is legal in all 50 states and 40 countries. Browns Botanicals is a nutraceutical leader specializing in the highest purity legal Hemp CBD-rich botanical products.
"We are honored to have Browns Botanicals as the backbone of the hemp-derived cannabinoids and terpenes science that we are bringing to customers," said Mike "Zappy" Zapolin, CEO of Zappy Inc. "Browns is well known in the industry for having the very best CBD products, and testimonials from customers with various illnesses, including epilepsy and several different auto-immune issues, are incredible."
Browns Botanicals recently won the first ever "Best Non-Edible Medically Infused Product" at the 2014 Cannabis Cup with an Industrial Hemp-derived CBD oil product, beating out the competition with their CBDemu, which is being used by Olympic athletes and sports teams.
Giving away “100 Tips on Entering MMJ Industry” at National Marijuana Business Conference, Las Vegas, Nov. 12-14
Worlds Online subsidiary MariMed Advisors and DispensaryPermits.com have joined forces to provide the medical marijuana (MMJ) industry with their proven end-to-end blueprint for success. MariMed Advisors has acquired the exclusive license and assets of DispensaryPermits.com, a consulting firm for medical marijuana license advisory services.
“This is a natural marriage for both of our organizations,” stated Thom Kidrin, CEO of WORX. “DispensaryPermits brings a well-established reputation of licensing success and a feeder network of entrepreneurs and medical marijuana license applicants seeking expertise and support of medical license applications.
"Once licenses are obtained, our experienced MMJ professionals located throughout the U.S. are ready to step in to assist with financing, dispensary and cultivation expertise, build out, training, and ongoing support to ensure the facilities are producing high quality product as quickly as possible,” Kidrin said.
The MariMed/DispensaryPermits.com team is celebrating last week’s State of Nevada award of provisional medical marijuana permits to two MariMed/DispensaryPermits.com application services clients at this week's Marijuana Business Conference and Expo in Las Vegas, Nov. 12-14.
“We’re thrilled to continue our successful record with permit applications and integrate with MariMed to create replicable models of excellence,” remarked Sara Gullickson, DispensaryPermits executive director.
By Steve Elliott
New York City Council Speaker Melissa Mark-Viverito has endorsed the legalization of marijuana, making her one of the first high-ranking officials in the Big Apple to take such a position.
"Yes, I do support the legalization of marijuana," Mark-Viverito said at an unrelated news conference on Thursday, reports Mara Gay at The Wall Street Journal. "I think based on conversations that we're seeing nationally, the way people feel about it, I think that it's just something that is appropriate at this time."
New York City Mayor Bill de Blasio this week announced a new policy under which those stopped for low-level marijuana possession will be given tickets instead of being arrested. That change is a "step forward," Mark-Viverito said.
She added that she's concerned that the mayor's new policy doesn't do enough to improve the "initial interaction" between police and New York City residents. She said she supported the outright legalization of cannabis, and said she had used it herself.
"If you're asking whether I have smoked marijuana, yes," Mark-Viverito said.
Mayor de Blasio said on Monday that issuing court summons instead of arresting people for low-level marijuana possession is "good for New Yorkers of color and particularly young people of color."
Congresswoman Eleanor Holmes Norton (D-DC) and other Members of Congress whose states have legalized or relaxed restrictions on marijuana and who support the District of Columbia’s right to legalize marijuana will host a press conference on how Congress should respond to local and state marijuana legalization nationwide, Thursday November 13, at 11 a.m. on Capitol Hill, Studio B, House Press Gallery.
The other hosts are Representatives Earl Blumenauer (D-OR), Jared Polis (D-CO) and Dana Rohrabacher (R-CA). Norton welcomed their support, all of whom have issues with the treatment of their states’ marijuana laws by Congress, but whose jurisdictions do not face the possibility of Congressional meddling like the District.
“I am pleased to stand with my colleagues in a bipartisan response to threats we are already receiving to overturn the will of District of Columbia voters,” Norton said. “Recent polling shows that 54 percent of people nationwide support marijuana legalization.
"The D.C. marijuana legalization ballot initiative, approved by two-thirds of voters, is in line with the majority of Americans," Norton said. "Even when opinions differ on the underlying issue of marijuana legalization, there is no debate that local laws in this country are for local jurisdictions.”
Washington State Liquor Control Board (LCB) member and former State Senator Chris Marr will leave the regulatory panel in January 2015, the former Spokane auto dealer has announced.
In a prepared statement to Governor Jay Inslee, fellow board members and Board Executive Director Rick Garza, Marr thanked them all for their hard work over the last two years during which Washington undertook the implementation of I-502, the legalization of recreational use of cannabis, reports Jim Boldt at Cannabis Wire.
Marr said he will pursue a career in lobbying. He leaves the Board at probably its second most important juncture, the real possibility of legislative action to mend the medical marijuana (MMJ) law and blend it with the state’s new recreational use law.
In addition to Marr’s leaving, LCB chair Sharon Foster’s term on the Board is up in January and rumors are she will not ask for reappointment. This would leave the Board with an institutional knowledge shortage, according to Cannabis Wire, and only one remaining member, Ruthann Kurose, who worked through the problematic implementation of the recreational use law, I-502.
Those involved in cannabis policy in Washington mention former state Rep. Lynn Kessler and former state Senator Tracey Eide as possible candidates for either or both slots.
Marr's statement is below:
By Steve Elliott
In the wake of the approval of marijuana legalization initiative Measure 91 in Oregon, the Multnomah County District Attorney's office announced it will dismiss low-level marijuana cases.
"Because it is clear that a significant majority of voters in Multnomah County support the legalization of marijuana in certain amounts, this office will dismiss the pending charges related to conduct which will otherwise become legal July 1, 2015," announced the office in a prepared statement, reports Kyle Iboshi at KGW.
Measure 91 allows anyone 21 and older to possess up to an ounce of marijuana in a public place, and up to eight ounces at home.
A total of 50 pending marijuana cases will be dismissed, according to the Multnomah County D.A.'s office.
"This office does not plan to prosecute future charges for conduct related to marijuana possession and delivery of marijuana which will become lawful under Measure 91 absent exceptional circumstances," the written statement reads.
Prosecutors in other Oregon counties are considering taking similar action.
Cannabix says its hand-held THC marijuana breathalyzer is being developed to give law enforcement and employers the ability to test for recent consumption of the THC component of marijuana -- and interestingly, the company is featuring this product, presumably a tool in the War On Pot, at a generally pro-weed trade show in Las Vegas. Prototype renderings are being showcased at the National Marijuana Business Conference and Expo.
"Cannabix Technologies Inc. is pleased to report the release of its first publicly available device renderings and video presentation of its Cannabix Marijuana Breathalyzer," the company announced in a prepared release. "Cannabix is developing a feature rich, durable, hand-held THC breathalyzer device for law enforcement and the workplace.
Media files and video which show the design and features of the prototype are available for online viewing at cannabixtechnologies.com. The product renderings will also be showcased at the National Marijuana Business Conference and Expo from November 12-14, at the Rio in Las Vegas. Cannabix senior executives will be sharing the video demo and discussing prototype development progress at booth 219.
With four states plus D.C. now having legalized marijuana, Julian Marley, the son of legendary reggae artist Bob Marley, will be the featured likeness on a new line of premium cannabis products.
Julian continues to speak out in favor of decriminalizing marijuana and promote its healing benefits. Kingsley Brand, LLC, licensor of Julian Marley’s likeness and trademark name, has exclusively partnered with Drop Leaf, LLC to promote the movement to decriminalize marijuana and promote its healing benefits with the launch of a new product line, Julian Marley JUJU Royal Premium Marijuana.
In the next few months Drop Leaf announced it will introduce to the market several signature strains of marijuana in addition to other products under the Julian Marley JUJU Royal Premium Marijuana brand name. They will be working with DNA Genetics, the industry’s leading developer of marijuana strains, to create high quality strains to serve medicinal and recreational users.
Drop Leaf and DNA Genetics are currently conducting research and development with certain origin seeds to produce their own signature Julian Marley strain for the Julian Marley JUJU Royal Premium Marijuana collection with hopes of making these strains available to dispensaries, caregivers, and worldwide where it is Legal.
By Steve Elliott
When this reporter attended September's Hempstalk Festival in Portland, I saw a well-organized, orderly event, where plenty of information about the cannabis hemp plant and its many uses was disseminated by activists and speakers, along with bands, vendors, and bounteous opportunities for people-watching. What I did not see -- and I attended the entire two-day festival -- was people smoking or selling weed inside the event.
Portland parks officials, who seemed to have attended an entirely different event, waited only a day after Oregon's historic vote to legalize marijuana under Measure 91 to mail a letter to Hempstalk organizer Paul Stanford, reports Andrew Theen at The Oregonian.. It wasn't a nice congratulatory note, either -- it was a firm denial of his request to hold next year's Hempstalk Festival at Portland's Tom McCall Waterfront Park, or any other public property, next year.
"The passage of ballot measure 91 makes no difference in the City's decision," reads a prissy statement from Parks Bureau customer service center manager Shawn Rogers. The denial "stems only from the inability of organizers to manage the event in accordance with the necessary conditions clearly outlined and revisited on multiple occasions."
City officials claim attendees smoked marijuana at the event -- but again, I was there the entire time, and I never saw a single joint torched, even backstage.
According to company officials, MariMed Advisors, Inc. and DispensaryPermits.com were instrumental in helping clients capture highly coveted provisional medical marijuana cultivation and production permits awarded by the State of Nevada on Monday, November 2. "The Nevada provisional permits continue MariMed and DispensaryPermits.com’s track record of success in securing medical marijuana permits," read a joint statement from the companies.
Washoe County-based CannaVative Group, LLC received both cultivation and production provisional permits. Clark County based Harvest Foundation, LLC received a cultivation permit.
“We are excited and honored to be given this opportunity to advance the medical marijuana industry in Northern Nevada,” noted Joey Gilbert, Esq., V.P. Strategy & Government Affairs, The CannaVative Group, LLC. “We are looking forward to working with the City of Reno, Washoe County, the State of Nevada and the MariMed and DispensaryPermits team to create one of the best medical marijuana programs in the country that will provide safe medical marijuana to the patients who truly need it.”
The receipt of the provisional permits culminates an intensive five-month permit application process requiring submission of extensive security, design, financial, systems and reporting, cultivation, packaging, marketing and ongoing operations plans and background checks.