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News

News about all things pot

Subcategories from this category: Technology

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“Headset” is the name of the new data analysis company started by Cy Scott, Brian Wansolich and Scott Vickers, the entrepreneurs who brought us Leafly (https://www.leafly.com). If you are a cannabis enthusiast, then you are likely familiar with the app and website Leafly that provides information and reviews of different strains and retail locations.

After selling Leafly to Privateer Holdings (http://www.privateerholdings.com) in 2011 the co-founders continued to work at their startup, only recently deciding to go their own direction with Headset and fill yet another market gap in the marijuana industries. Headset will reportedly (http://www.geekwire.com/2015/leafly-founders-depart-raise-cash-for-new-marijuana-business-intelligence-startup/) be a subscription service that will provide analytical information for cannabis markets all over the world, giving firms who want to expand valuable information about potential new markets. The service will only be for companies who do not actually sell marijuana, but related products or services. At this point no service such as Headset exists, and as startups from all over the nation and world are making their way toward cannabis, the co-founders are poised to corner another part of cannabis-information market.

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Leafly was started in June 2010 by three friends who noticed a need for a cannabis information database and decided to go for it. “ We figured if we had this need, others would as well” Cy Scott said to Engadget (http://www.engadget.com/2015/06/10/leafly-the-web-ultimate-cannabis-resource/). Then last year in 2014 Leafly ran a full-page ad in the New York Times advertising it’s services and congratulating New York on passing the Compassionate Care Act.

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Following up on our post on Friday, we see $NTRR (2.4%) and $NDEV (19%) moving up as other stocks fell - $NGMC (-28%) and $ETST (-7.78%)

etstEarth Science Tech, Inc. ($ETST) reached a high of $1.74 on July 17, 2015, and has declined to a near recent all time low of $0.83. The lowest price this year was $0.78 on July 16 just prior to the spike, and recent lows were around $0.81 before rising to $1.00 price values. Spikes in October of 2014 were as high as $3.46, and the company IPO'd with a price of $0.01. ETST fell 8% today from a value of $0.90 per share yesterday at closing to $0.83. Earth Science Tech specializes in ultra-high grade CBD (cannabidiol) rich hemp oil. CBD products do not contain psychoactive ingredients and are for medicinal and wellness purposes.

 

ngmcNext Generation Management Corp ($NGMC) is a consulting firm that acquires businesses in the retail and cultivation industry.  They also specialize in staffing and training for dispensary businesses.  NGMC has several subsidiaries including a dispensary, a consulting limited liability company, and an energy businesses acquisition company.  The stock price is down 28% today, from 0.0044 to a price of 0.0032.  The decline comes after a large spike from 0.0015 on September 4th to the high of 0.0044.

 

ntrrNeutraCorp Natural Sciences ($NTRR) is a research and development company with a market cap of $2.12M.  NeutraCorp recently made headlines in Yahoo Finance for providing pesticide alternatives in a way that removes the need for strong chemicals during the growing process.  NeutraCorp partners with Vertigo, a horticultural technologies copmany, Surface to Air Solutions or S2O2, specializing in air purification technology, Second Wave Ventures, a company focused on nutraceutical delivery systems, and Diamond Anvil Designs, a vapor pen design company that was acquired by NTRR in 2014.  $NTRR currently is up 2.44% from 0.035 to 0.0369.  The stock has risen from an all-time low of 0.02 to a higher platform around 0.04 with one jump to 0.05 so far.  The highest peak was in April of 2013 at a price of $2.72.

ndevNovus Acquisition & Development Corp ($NDEV) is a Nevada-based company specializing in providing healthcare and medical plans for medicinal marijuana patients.  The company has two divisions, Novus Medical Group and Novus QC.  The stock price for $NDEV began Monday morning at $0.014 and jumped at 1:05 PM to a price of $0.0174, a jump of 18.62%.  The price is still at a near all time low, after rising from 0.0035 to 0.4948 from January to August of 2014.  The decline has dropped over time to now, however the current bump does not yet demonstrate high potential for a big jump.  

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The annual Conference of Western Attorneys General was held earlier this month where state-level officials met with representatives of the cannabis and hemp industries and called for the setting of national standards for and by those industries. The officials encouraged the businesspeople to form a self-regulating organization capable of producing guidelines for all aspects of their recently legal businesses. This meeting is unique in the American cannabis history where lawmakers are openly discussing best practices with cannabis producers.

 

“This felt like a watershed moment, and there were attorneys general who said that to me, in those exact words,” said Michael Bronstein of the American Association for Cannabis and Hemp.

 

Marijuana Business Daily reports that “A committee of public officials and industry representatives will work together to develop the code” although the article does not say who specifically will be on the committee.

 

Attendants of the meeting included Attorneys General from twenty districts, Dr. Cindy Orser - CSO of DigiPath Labs, Jake Salazar of MMJ America, Bob Eschino of Medically Correct, Todd Mitchem of High There, and a representative of the Coalition for Responsible Cannabis Production.

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Today New York announced the five companies granted permits to manufacture cannabis products for the state’s medical marijuana program. Bloomfield Industries Inc., Columbia Care NY LLC, Empire Health Solutions and Etain LLC and PharmaCann LLC will each be allowed to produce various cannabis products and open five dispensaries across the state, allowing for a total of twenty locations statewide. While it is always good to see another state allowing citizens to use an important medicine, New York’s system may put too many restrictions on access

 

New York State Assemblyman Richard Gottfriend said he thought the permitting process lacked transparency and was “an open invitation to all sorts of allegations.” Forty-three companies applied for the permits, each of which paid a $10,000 application fee; the five selected will have to pay $200,000 more to get their permits. CEO of eCann Inc. Eddie Miller, suggested that some of the firms passed over for the license will sue, and there is a precedent for that kind of thing.

 

New York is the only state other than Minnesota to disallow smoking in their medical marijuana laws. Patients in New York will be allowed access to vaporizers, edibles and oils, they are not allowed to grow or produce their own medicine. The state’s medical marijuana law was given an “F+” in a report from American for Safe Access (ASA) titled “Medical Marijuana Access in the U.S.” Deputy Director of the Drug Policy AllianceJulie Netherland said that “given the current proposed sites, there are huge areas of the state where patients will have to travel enormous distances to get medicine."

 

Although flawed, this law will allow many New Yorkers legal access to a medicine that can be extremely therapeutic and in some situations life-saving, and that makes it a good thing. Supporters of New York’s law have said that public health concerns like regulations on purity and quality control are at the core of this system, something that is lacking in some medical states.

 

The laws and regulations around the cannabis plant are changing more rapidly now than perhaps they ever have before and medical marijuana laws in all states may very well be affected by Federal legislation coming down the pike.

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Snoop Dogg has a Venture-Capital Fund for Weed

Calvin Broadus Jr. more commonly known as Snoop Dogg and recently Snoop Lion has started a venture-capital fund with the purpose of investing in cannabis-industry startups.

 

On Friday June 12, Casa Verde Capital filed with the Securities and Exchange Commission and Snoop was listed as a managing member.The organization will is reportedly seeking $25 million from investors and will focus on tech used within the evolving systems of the cannabis industry. This sounds like a pretty great idea when you think about how many new products have entered the cannabis-world within recent years, and how many are sure to come given the state of flux the industry is in.

 

Snoop obviously brings instant brand-recognition to anything he touches, especially when that thing is related to cannabis. But Snoop also brings previous experience to the table, as he is reportedly invested in a stock-trading enterprise called Robinhood, and “the homepage of the internet” Reddit.


In case you were wondering, venture-capital funds are high-risk, high-return, managed investment funds where private investors buy equity in small or starting businesses.

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