Business Archives - Green Market Report

Jack SmithJack SmithFebruary 23, 2018
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5min450

If you can’t beat ’em, join ’em. And if you can’t tax ’em, smoke ’em.

Just weeks after marijuana became legal for retail sale in the state of California, there has already been a tax cut, with the city of Berkeley cutting its tax to 5% from 10% of gross receipts. Credit rating firm Fitch said it’s due in part to high levels of both state and local taxes on cannabis, but also because illegal sales of cannabis are impacting legal sales, forcing legal dispensaries to compete on price.

The move comes after advocates in the Bay Area said taxes on marijuana were too high.

Steve DeAngelo, the co-founder, and CEO of Harborside in Oakland said in January that the tax rate for cannabis was nearly 35%, including state and local taxes, up from 15% prior. Included in that rate is the regular 6% sales tax, 3.25% sales tax for Alameda County, a 15% state tax on marijuana and a 10 percent Oakland tax on recreational marijuana.

“That is a huge hit. And it’s going to mean that a significant number of people, less affluent consumers, are going to turn to the lower prices of the underground market,” DeAngelo said in an interview with CBS SFBayArea.

DeAngelo added that people might turn to the black market because of the high taxes, but that his dispensary had a variety of different products, in addition to being tested.

“All of our medicine is tested in a laboratory,” DeAngelo said. “It’s evaluated both for safety, for things like pesticides and pathogenic molds, and it’s also evaluated for potency.”

Aside from the aforementioned tax rates in Oakland, tax rates throughout the state vary greatly and can add as much as 10% or 20% of the cost, just because of local taxes. There is also a $9.25 per ounce state tax on cultivation, as well as a 15% state excise tax and state and local sales taxes as high as 10.25%.

The added tax revenue was a factor in the state passing a law to allow recreational cannabis sales. A November 2017 Fortune article cited data that the state could generate as much as $1 billion in added tax revenue, but some people in the cannabis industry said the high tax rates could allow for illicit or black market sales to gain an unfair advantage.

Fitch estimates that tax collections have “far exceeded initial estimates” in both Colorado and Washington, which began collecting taxes on legal sales in 2014. The rating firm added that while it is still too early to know if California will generate the same levels of revenue that Colorado and Washington have, high taxes are going to be an issue.

“[C]omparatively high taxes on legal cannabis will likely continue to divert sales to illegal markets, reducing potential tax collections despite actions such as Berkeley’s,” the firm said in an email obtained by Green Market Report.

The way the legal and regulatory framework was set up in California, it allows local jurisdictions to ban sales of non-medical cannabis entirely. Despite that, illegal sales have continued, flooding the market and negatively impacting the sales potential for legal goods.

The city of Berkeley and mayor Jesse Arreguín hope that the tax cut will improve its competitive position; the tax cut may also be a sign of things to come in a state where 67 cities and counties have taxes on legal cannabis sales.


Debra BorchardtDebra BorchardtFebruary 23, 2018
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6min210

After selling his accounting software company Outright to website behemoth GoDaddy, entrepreneur Ben Curren thought he’d take a couple of years off. But three months into his break, he got bored. He decided to look back through his “idea book” where he would jot down various inspirations and saw the comment “look into cannabis.”

This was the genesis of the creation of Green Bits, that bills itself as the “Square” of cannabis. He did “look into cannabis” and his research showed him an emerging industry that had a huge number of complicated challenges on the retail side. His background in accounting, compliance and helping small businesses fit nicely with the skills required to tackle the industry problems.

Curren created a one-page flyer addressing the industry pain points and how to solve them. He sent it to license holders in Washington essentially saying, “Hey, we’re building this, are you interested?” To his surprise, people responded even though he didn’t have the product built. The process of asking potential customers what they needed as he was building it, helped Green Bits to deliver a strong end result. “This process helped us get our first 15 customers,” said Curren. This was 2014 before the dispensaries had actually opened. “These customers helped my funding to get this thing built,” he said.

Fast forward to today and Green Bits serves more than 800 legal cannabis retailers in seven states. The company processes more than $2 billion in annual sales through its point-of-sale system. In just a few short years, Green Bits is beginning to surpass its competitors in the number of dispensaries it works with.

The software is subscription-based and tracks inventory of marijuana for retail dispensaries and automatically provides information to the government in order to make sure the businesses are in compliance with state rules. The software also helps dispensary owners manage cash flow and inventory. The product can provide customer verification at check-in and automatically limits transactions from states where cannabis is illegal. Green Bits works with all the seed-to-sale tracking systems as well. Taking the information from these programs and then funneling that through to the proper authorities.

Curren wrote most of the original code himself with some help from his Outright coders that were working at GoDaddy.com at the time. These original founders worked during their off hours and took vacation time from GoDaddy as the dispensaries went live. They no longer work at GoDaddy.

The curse and the blessing for this serial entrepreneur was the limitation of licenses. The small number of licenses kept the company’s growth in check, but the blessing was that the slowness allowed Curren to bootstrap the company. “I didn’t have to dump in a half million dollars at once,” he said. “I could do small amounts as necessary to build the company. Now we’re around 45 people serving almost a thousand dispensaries.”

Beating The Competition

MJ Freeway and BioTrack are his biggest competitors. These companies were created earlier than Green Bits, but he wasn’t intimidated. “BioTrack and MJ Freeway pretty much ran all the dispensaries in the state of Washington. We went after the recreational market and they were in the medical. In less than four years, we took 80% of the market away from them” said Curren. “The same thing is happening in Oregon.”

The limitation of licenses is the biggest challenge for this growing company. “We need the market to be larger in order to be a large technology company,” said Curren. Ideally, he’d like to get to ten thousand dispensaries, but of course, there aren’t even that many in the country at this time.

While the Green Bits strives to protect its customers from the headaches of compliance, even this company concedes that the current situation in Washington state goes beyond what it can do. The transition from BioTrack to Leaf Data has been problematic. “It’s definitely challenging,” he said, “But Washington has the second most sales of any state. You’re moving from Biotrack that went from 5 dispensaries to 400. It grew slowly. Leaf Data has had to take it over right away when everything was already running.” Leaf Data has made the same argument when answering criticism over the problems of the transition.

Curren said it was 100% impacting businesses. He added, “It’s quite costly for us to work around these issues, but things have been improving over the past week.” In the meantime, Green Bits will continue to protect its customers from the pains of being in the cannabis industry.


William SumnerWilliam SumnerFebruary 23, 2018
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6min300

Part Two of a Four-Part Series

Why are less than one percent of California cannabis cultivators actually licensed to grow cannabis? That is the question on everyone’s mind in the wake of a 36-page report released by the California Growers Association, which represents more than 1,100 small and independent cannabis businesses.

The report details many of the political, financial, and cultural barriers preventing small to midsize cannabis cultivators from entering the legal market. In part two of our four-part series, Green Market Report will take you through the report and lay out the state and local barriers standing in the way of cannabis cultivators.

Local Policy

Local cannabis regulations in California is, to say the least, a hodgepodge of conflicting rules passed by municipalities struggling to understand the legal cannabis market. As of February 2018, only 13 out of 58 California counties have passed laws allowing commercial cannabis activities

Six counties are likely to pass ordinances in the new future, while 14 more counties are currently studying the issue. Nearly half of California counties (25) have already passed bans on commercial cannabis activity.

Of those counties that have actually passed ordinances allowing cannabis activity, many have implemented caps on the number cannabis business permits available. For example, Trinity County only has 500 available cannabis business permits despite having more than 4,000 cultivators operating in the area.

Similarly, local zoning ordinances have made it increasingly difficult for cultivators. In Sonoma County, for example, a local ban on rural residential and agricultural residential areas have helped to exclude over 3000 cannabis cultivators from the market.

Likewise, in urban areas, many zoning ordinances have left cannabis businesses huddled in small business districts; which in turn have helped spike local real estate prices, thus further making it difficult for small-scale cannabis cultivators.

State Policy

Current state cannabis laws have also played a part in preventing small to midsize cannabis cultivators from entering the market. Under the 1976 Direct Marketing Act, California farmers are allowed to directly interact with consumers through Farmers’ Markets and Community Supported Agriculture.
However, current state law has not adapted to allow the privileges of cannabis cultivators. The state does offer cannabis event licenses, but these are strictly limited to retail cannabis businesses and exclude cannabis cultivators and manufacturers.

The CGA believes that this will have a negative effect on many small to midsize cultivators, many of whom were able to interact directly with patients under now-defunct state law.

Cannabis transportation has also proven to be a bottleneck for cultivators. Of the 192 licensed cannabis distributors, 133 (approximately 69%) hold at least one other license non-distribution licenses. Approximately 28% of distribution licenses are controlled by manufacturers, another 25% are owned by dispensaries, 9% belong to cannabis cultivators, 4% is controlled by businesses with multiple licenses in the supply chain, and 3% are controlled by delivery companies.

Only 31% (59) of the issued cannabis distribution licenses are actually owned by companies focused solely on distribution. What does this mean for cannabis cultivators? In essence, it means that not only are cannabis cultivators forced to rely on competitors for distribution but also that they have to rely on companies that simply not scaled to transport other licensees products.

Further complicating the distribution issue is cannabis testing. Not only are there too few licensed cannabis testing laboratories in the state (22 total), there are not enough distribution companies to meet the demand; which in turn drives up the price for both.

Also hurting cultivators is the soon-to-be distinction between medical and recreational cannabis on the production level. A six month grace period allowing medical and recreational licensees to transact with one another will soon expire, which will increase the start-up cost for prospective cannabis businesses.

For cultivators, this means having to get both a recreational and medicinal cultivation license in order to maintain market flexibility. Not only that, cultivators will have to decide which portion of their harvest will be dedicated to recreational and what portion will go towards the medicinal market.

The confluence of confusing state and local regulations has led to widespread confusion among the cannabis cultivators, which in and of itself is a barrier to licensing. In order to stay compliant with the law, licensees must be aware of regulations from the CDFA, BCC, MCSB, Water Board, CD FW, CDTFA, OSHA, as well as local building and fire code, and local regulatory and tax ordinances.

Stay Tuned for Part Three

According to a poll conducted by the CGA, 57% of its member cite regulatory confusion as a “significant” barrier to becoming licensed. But regulatory woes are not the only barriers towards becoming licensed cannabis cultivators. Indeed there is a litany of financial and even cultural considerations that keep many of the state’s cultivators from joining the legal market; and in part three of our four-part series, we will examine those issues. Stay tuned.


William SumnerWilliam SumnerFebruary 22, 2018
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5min2510

Part One of a Four-part series.  

Is California’s cannabis market on the verge of a crisis? If you ask the California Growers Association (CGA), the answer is yes. On Feb. 19, 2018, the group, which represents more than 1,100 small and independent cannabis businesses, released a 36-page report dubbed “An Emerging Crisis: Barriers to Entry in California Cannabis.”

The report details the structural, political, financial and cultural barriers that are preventing thousands of small to mid-size cannabis cultivators from participating in the state’s newly legal, and regulated, cannabis market.Of the state’s estimated 68,150 cannabis cultivators, only 534 are actually licensed to cultivate cannabis; which averages out to less that one percent (0.78%).

So why aren’t California’s cannabis cultivators entering the market?

In this four-part series, Green Market Report will take a look at the CGA’s report and walk you through the concerns it raises, the solutions it recommends, and why it matters to you. For Part One, we’ll take a look at why this report matters at all.

In order to understand why any of this matters, one first must look at the two laws which serve as the linchpin of California’s cannabis market: Proposition 64, which legalized recreational cannabis in the state, and the 2017 Medical and Adult Use Cannabis Regulation and Safety Act (MAUCRSA), which attempted to harmonize the medical and recreational market.

The CGA report claims that the role of small to midsize cannabis businesses was central to the conversation surrounding Proposition 64 and MAUCRSA; citing several passages in Proposition 64 aimed at “ensuring… the industry in California will be built around small and medium-sized businesses.,” and notes that MAUCRSA contains similar language.

After establishing the spirit of these two laws, the CGA report examines how the laws’ implementation fails to live up to the spirit; noting several issues which will be covered in more detailed in subsequent issues of this series.

The result of these barriers has had a deleterious effect on market participation from small to midsize cultivators, leading to market consolidation from larger operators. This consolidation leads to four primary issues which concern the CGA:

A small cannabis farm in California. (Shutterstock)

Biodiversity: Most large-scale businesses rely on standardization and reliability. A consolidated cannabis market would result in fewer strain choices for consumers and could limit the discovery of new strains

Overproduction: The CGA estimates that although the state produces 15 million pounds of cannabis a year, the state only consumes three million pounds. Given that the state already produces more than enough cannabis to meet demand, an increase of large-scale is not needed and could lead to overproduction, which is already an issue in states like Oregon.

Increased Use of Pesticides: A hallmark of industrial agriculture is the reliance on pesticides in cultivation, and this is true of large-scale cannabis grows. Small-scale grows, on the other hand, can be managed without the use of pesticides because of their size. More large-scale growers mean more pesticides.

Economic Collapse: The CGA estimates that there are approximately 68,000 small cannabis farms in California. With an average of 3.6 employees per farm, the number of people employed by those farms totals to 258,000. Thousands of people and the communities they live in have built their livelihoods around those farms and current regulations threaten to destabilize that status quo. If this issue is not addressed, the economic fallout could be dire.

Stay Tuned for Part Two

So what is standing in the way between small to midsize cannabis cultivators and becoming licensed by the state? In part two of our series, we’ll take a look at the state and local policies that prevent cannabis cultivators from entering the California market.


Debra BorchardtDebra BorchardtFebruary 21, 2018
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3min6700

UK-based GW Pharmaceuticals (GWPH) announced that a Phase 2a proof of concept study of a pipeline compound GWP42006 in adult patients with focal seizures did not meet its primary endpoint. The Phase 2a  study evaluated the efficacy and safety of GWP42006, which features cannabidivarin (CBDV) as the primary cannabinoid molecule. The drug was meant as an add-on treatment for adults with inadequately controlled focal seizures.  Focal seizures are partial seizures that happen when this neural disturbance remains in a limited area of the brain.

The study was conducted primarily in Eastern Europe. The top-line results in both the drug and the placebo showed a drop of approximately 40% in the number of seizures experienced. This was a much higher response from the placebo than had been expected.

GW Pharmaceutical said in a statement that the drug was generally well tolerated. Still, the company stated, “More patients in the active group (73 percent) experienced treatment-emergent adverse events compared to the placebo group (48 percent). A majority of the GWP42006 patients experienced adverse events of mild or moderate severity.

The compound has shown anti-epileptic properties across a range of in vitro and in vivo models of epilepsy. GW Pharmaceuticals said it would continue to look for other opportunities for the compound.

Autism Disorders

In parallel with this study,  GWP42006 was also being evaluated in both general and syndromic pre-clinical models of Autism Spectrum Disorder (ASD)  yielding promising signals on cognitive and social endpoints as well as repetitive behavior.  The company said in  a statement that it would “continue to advance various clinical initiatives within the field of ASD, including a physician-led expanded access IND in 10 patients with autism as well as both open-label and Phase 2 placebo-controlled trials in Rett syndrome, a condition for which GWP42006 has received Orphan Drug Designation from the FDA.” Open-label data from the expanded access IND are expected later in 2018.

“Whilst the results of this adult focal seizure study for GWP42006 are disappointing, we remain committed to advancing this pipeline compound to address unmet needs in the field of autism spectrum disorders, in which a promising body of pre-clinical data has already been generated, as well as continuing to explore the product’s potential within the field of epilepsy,” said Justin Gover, GW’s Chief Executive Officer.

Gover said that Epidiolex remained the top priority for the year. The stock fell almost 6% in after-hours trading to approximately $124.

 


Debra BorchardtDebra BorchardtFebruary 21, 2018
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5min170901

HoodLamb, the Amsterdam fashion house specializing in hemp outerwear and knits, is releasing a Spring/Summer 2018 capsule. This clothing company was founded by surfers who wanted to create a clothing line based on hemp fabrics but employing high-end design. Global Marketing Director Aisha Thompson said, “Our Spring/Summer 2018 capsule is an outbound exploration in harmony with nature. We’re continuing to explore hemp in lightweight and durable fashions perfect for the season.”

Hoodlamb has been tailoring its hemp clothes for 20 years. The company prefers hemp for its strength and for being environmentally friendly. The company is well-known in Europe for its outerwear but has recently begun to attract attention in the United States. Hoodlamb jackets are known to be approved by people that want animal-free clothing.

Signature Spring Jacket

The James Dean jacket for men & women is the signature of the season. Thompson said, “We were inspired by James Dean for his timeless sense of style..simplicity with an edge. More than anything, his refusal to compromise on his ideas, which led to his rebellious image, became infused in his clothing.”

The James Dean jacket is made using a strong hemp twill shell combined with a soft cotton sateen lining. “It is hard on the outside, but soft on the inside,” said Thompson, “It includes our signature secret pockets.” Both men and women’s jacket retail for $119.

Sea Shepherd

In addition to the lighter spring jacket, Hoodlamb has a new spring line for its longstanding collaboration with Sea Shepherd, the UN-mandated marine wildlife conservation non-profit. 10% of all Hoodlamb Sea Shepherd clothing sales go to support Sea Shepherd expeditions worldwide.

The line continues into the season with statement pieces that honor and protect the oceans. It is complemented by an assortment of essential knits and casuals. The styles include a flecked pattern hoodie, flecked sweatshirt and short-sleeved T-shirt with a signature whale design.

As Sea Shepherd fights to keep the oceans clean, HoodLamb fights a similar fight with equal passion; to make better clothes, and a better world – by integrating and promoting hemp as our essential ingredient. The company says “We are rebels but with a cause. To bring hemp to the world.”

Who Is Hoodlamb?

Apparel company Hoodlamb may have started using hemp as a tribute to cannabis by the founders, but now the company sees hemp more as an ecological choice, not a scandalous choice. The company began in 1993 in Amsterdam by Doug Mignola who wanted a better post surf jacket and also loved the idea of working with industrial hemp. The name is also tongue in cheek for the hoodlums that might consume cannabis. The signature secret pockets in the jackets are a nod to the consumers who might have a need to hide contraband product.

The hemp comes from Northern China and is grown chemical free on family farms, some of which are owned and operated by women. The raw fiber is then spun into a durable fiber that is used to make the fabric for Hoodlamb jackets. Even the water-resistant coating on the jackets comes from natural cellulose taken from hemp stalks. Hemp fabric alone would be pretty stiff and scratchy, so it is combined with organic cotton to soften the feel of the fabric.

Hoodlamb is a cruelty-free company and an approved PETA brand. The company is a member of One Percent for the Planet and contributes at least one percent of annual revenue to help create a more healthy planet.


William SumnerWilliam SumnerFebruary 21, 2018
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3min960

Cannabis Strategic Ventures (NUGS), a Los Angeles based firm that offers outsourced personnel solutions to the cannabis industry, announced that it has entered into an agreement to acquire Pure Applied Sciences and its brand of organic and pure cannabis oils, PureOrganix.

“Pure Applied Sciences was extremely attractive to us because of its extensive portfolio of ultra-high quality products. It’s difficult for many small companies to conform with Current Good Manufacturing Practices (cGMP) and to meet FDA guidelines for Active Pharmaceuticals Products (API), but this team has excelled in this area. It’s an important aspect of the product line that will allow for significant expansion. Consumers in the cannabis space demand quality. Pure has built its business around this demand for quality,” said Cannabis Strategic CEO Simon Yu in a statement.

Additionally Cannabis Strategic also announced that it would bring on the principals of Pure Applied Sciences, Christian Young and Mylad Piroozabacht, and as well as their executive teams. The company hopes to use its newly acquired brand, as well as the expertise of Young and Piroozabacht, to launch a new division of consumer brands.

“We are also very pleased the main principals of Pure are joining the Cannabis Strategic team. Chris has considerable marketing experience that will help us grow across all our product lines and Mylad has the science background to head our development efforts. We welcome them to the NUGS family,” Yu added.

This is Cannabis Strategic’s first acquisition as part of a previously announced financing and investment pool geared towards cannabis projects in California. Before moving into the California market, the company made similar investments in the state of Washington. Last month, Cannabis Strategic announced that it had hired L&L CPAs, PA to conduct a full audit of the firm. The company plans to use the audit to help increase liquidity, attract additional investors, and to use as a guide for when it seeks to uplist the company’s stock trading venue.


William SumnerWilliam SumnerFebruary 20, 2018
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3min1530

Canopy Growth Corporation (TWMJF) announced today that it has received a license for its cultivation facility in Aldergrove, British Columbia. Operating under the previously announced BC Tweed Joint Venture Inc. banner, the site is set to become one of the largest cannabis cultivation facilities in the world.

The initial license will cover approximately 400,000 square feet of growing space, but it is expected to expand into 1.3 million square feet over the comings month in time for the flowering and harvest stage of cultivation.

On. Feb. 16, 2018, upon learning that it had been issued a license and after consulting with the Investment Industry Regulatory Organization of Canada, the company decided to temporarily halt the trading of its common shares on the Toronto Stock Exchange as the license represented a substantial change in the company’s production capacity.

In a statement, Canopy President Mark Zekulin praised his company’s progress in the retail cannabis landscape.

“We are the only producer in Canada who can make this claim and we will continue to leverage our production platform in order to solidify a truly national presence for our cannabis brands,” Zekulin said. “A cultivation license for our first BC Tweed site positions us to continue this trend as Canada’s, and indeed the world’s largest, most reliable and most diversified producer and seller of high quality regulated cannabis.”

Over the weekend, the company shipped more than 100,000 cannabis clones, the largest shipment in company history, to the facility from its Tweed Smith Falls Campus to help kick-start the cultivation process.

With the Aldergrove facility now operational, the company plans to turn its focus to a second cultivation facility in British Columbia. With construction well underway, the facility is expected to have approximately 1.7 million square feet of growing space; bringing the company’s total available growing space to 5.6 million square feet.

“As proud native British Columbians and long-time horticulture producers we are excited to continue the proud tradition of BC bud on a national scale,” added BC Tweed’s Victor Krahn. “Working with Canopy Growth we’re going to take the Tweed brand to the next level on the West Coast and bring the best our province has to offer to the country and the world.”


StaffStaffFebruary 20, 2018
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4min1580

Colorado-based General Cannabis Corp (CANN), announced its highest quarterly revenue results for the fourth quarter ending December 31, 2017, and paid down its long-term debt.

The company delivered approximately $990,000 in revenues for an increase of 27% over last year’s fourth quarter. Annual revenues increased 15% to $3.5 million versus last year’s $2.9 million. The company did not report whether it had a profit or loss for the quarter or the year. There was no formal filing for the earnings, only a press release.

General Cannabis is the parent company for three underlying companies. Next Big Crop is a consulting firm, Iron Protection provides security services and Chiefton is cannabis clothing and graphic design.

Revenues

Iron Protection Group experienced decreases in revenue due to the drop in wholesale prices in Colorado. Revenues fell 11% for the quarter and 16% annually. The company acquired Mile High Protection Services in August 2017 to reduce its dependence on the cannabis industry. This company segment received a license to operate in California and hopes to see growth from this market in 2018.

Next Big Crop consulting was the most successful of the three companies with revenues increasing 323% for the quarter and 193% annually, although no sales figures were given in the press release.

Chiefton was reported to have a 95% increase in revenue for the quarter and a 26% increase for the year. The company said that it had added a new managing director in August 2017 to focus on its apparel business, which positively impacted revenues for both apparel sales and design revenue.

Elimination Of Debt

General Cannabis said in the press release that it had paid down all of its existing long-term debt.  The statement read, “In addition to raising $4 million through a capital raise in 2017, we have received an additional $3.5 million in funds through the exercise of warrants and stock options in 2018.  We used a portion of these funds to pay off the remaining $1,621,250 due under our 12% Notes in January 2018, and to pay off the $1,370,000 due under the Infinity Note in February 2018.”

“Our continued growth in revenue is a reflection of our ability to pursue opportunities from the expanded legalization of medical and recreational cannabis in numerous states,” said Robert Frichtel, Chief Executive Officer of General Cannabis.  “We also have achieved a significant milestone in the Company’s history, paying down our long-term debt.”

“We are now well positioned to continue our growth,” Frichtel added, “and focus on achieving profitability within each of our operating divisions.”


Emerson BrownEmerson BrownFebruary 19, 2018
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3min960

The President of the United States has always been a position held with honor and prestige but most importantly it has been a seat that can persuade, promote and bring about awareness to topics that have been overlooked or even hidden from the eyes of most American people. It was once said, to understand your future you must know your past and according to most writers of American history, it’s safe to say at one point in American history hemp/marijuana was held in high regard for its lucrative placement economically, socially and not to forget its medical uses.

It is the honorable position of president that can carefully intertwine or unlock the importance of hemp/marijuana within the free fabric of the America culture. Like most products of value, hemp/marijuana brought with it a steady stream of cash flow and that influx of cash would only go to the pockets of those that cultivated or traded hemp/marijuana. In turn, leaving many on the outside trying to find ways to get on board or disrupt this flow of production. Profits that only a few American farmers and businessman were able to capitalize on.

America has and always will be a land of restricting corporate laws and profit-driven headlines, so there’s no one really to blame for the propaganda of the past that shorted hemp/marijuana from becoming one of the world’s most widely used and beneficial earth grown products. Yes, people often write about how George Washington grew huge fields of hemp and kept a nice detailed grow log. Yes, people have documented how Thomas Jefferson smuggled hemp seeds out of France and China just because he couldn’t resist the benefits. Yes, American historians have recorded how James Madison was heard to say that smoking hemp/marijuana inspired him greatly to pen the Declaration of Independence.

These presidents benefited from cannabis. Even the presidents that fought against marijuana used that fight to their benefit.

Today is President’s Day 2018 and this prestigious position is being held by businessman Donald Trump. I believe that it all comes down to money and this president because he’s a businessman will leave the industry alone.

Franklin wasn’t a president, so it’s not about the Benjamin’s. Instead, it’s about the Jackson’s.



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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