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Cannabis legalization bills introduced at federal level

Two Bills proposing the federal legalization of cannabis were introduced to the House of Representatives June 20,2015. Two representatives each introduced bills that together would remove marijuana from all schedules of the controlled substance act and establish taxation and permitting for for recreational use and production. 

Representative Jared Polis of Colorado introduced H.R. 1013 into the House which would legalize cannabis, tranfer oversight from the Drug Enforcement Administration to the Bureau of Alcohol Tobacco and Firearms and generally set the stage for legal recreational cannabis use in the United staes. 

Representative Earl Blumenauer of Oregon introduced H.R. 1014 which would amend the Internal Revenue Code to allow for taxation of marijuana and stipulates that people must recieve permits to engage in marijuana enterprises. 

At the moment it seems that both bills would have to pass to create a functional system by which cannabis would be legal for adults in the US. But as we know bills often chenge in  the proces of becoming law; it ishard to say the future of the bills or what their consequences may be. What can be said is that this is exciting for cannabis advocates and historic for the nation.

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Hemp oil is a food product made by pressing the seeds of the hemp plant to extract the oil. You can buy it at the grocery store and it contains very little to no THC or CBD. Meaning that while it is a very nutritious food, it will neither provide any medical benefits or a high to the user. It does go well with vinegar on salad or bread.

With the media frenzy around CBD and it’s exciting medical applications, google Charlotte’s web - CDB, came a vast array of “CBD rich” products with some companies shipping to all 50 states (more on that in another post). Many of these products are marketed as “Hemp Oil” which can be confusing because as we know there is already another product marketed under that name. The two products in no way resemble each-other.

CBD rich oil is made by extracting the resin from plants that produce high levels of CBD. It is usually a sticky paste that does not taste good. The plants that produce significant amounts of CBD are not the industrial hemp varieties, they much more resemble the high THC plants that have been bred to produce large amounts of cannabinoid rich resin on the leaves and flowers.

Eric Streenstra of Vote Hemp and the Industrial Hemp Association said to cbdproject.org: “Our biggest concern, from an industry standpoint, is the conflation of hemp oil and cannbidol. The reality is that the best source of CBD is high resin strains of cannabis - the drug kind.”

Although CBD is not psychoactive so to say it the cannabis plants that produce it are “the drug kind” may be a stretch, but that’s just my opinion.

So the next time that you are on Amazon, and you see one “hemp oil” product costs thirty dollars / ounce while another comes in at about sixty cents / ounce, you’ll know why.

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The debate about medical cannabis use in New Zealand has come to the forefront after a teenager in Wellington Hospital was given Elixinol, a drug containing cannabis derived cannabidiol (CBD), to treat epilepticus. 20 other medications were attempted previous to Elixinol.

Alex was training to be a chef and started going into seizures after feeling low-energy for a few days. He was then placed in an induced coma for 54 days to control ongoing epileptic-like seizures. Twenty different medications were attempted, and Alex's mother fought for the right to use Elixinol. The drug was not being allowed due to the bureaucracy surrounding medical marijuana, but on June 9th the Associate Health Minister Peter Dunne approved the remedy.

Today, his first Elixinol treatments were finally administered and he stated that he feels "calm and settled" after his second treatment, according to TVNZ.

In other news, On June 15th, Auckland police have carried out 10 search warrants and arrested eight people who will be charged with selling and cultivation of marijuana. Thousands of plants were seized.

John Key, New Zealand's Prime Minister, has stated that "I haven't seen any advice that supports the view that we should be taking a broader view of the use of medical marijuana", according to NZCity.

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b2ap3_thumbnail_joint-120110.jpgOn Monday, the Colorado Supreme Court ruled that Colorado businesses can fire employees that test positive for THC on their drug tests. The case that brought this ruling to light involved a Colorado man named Brandon Coats, who smoked medical marijuana to cope with paralysis problems after a car accident. He stated that his smoking weed at home did not affect his job performance. Medicinal use is still illegal under federal law and that fact drove the decision.

Federal Law on marijuana must be re-assessed. The current administration officials and attorney general, Loretta Lynch, believe in old traditional misunderstandings of marijuana as a drug that is as bad as heroine or methamphetamine. Vivek Murthy, the surgeon general of the United States of America, has a different view and understands that marijuana "can be helpful" in his interview with CBS news. Declassification of marijunana to a drug that has medicinal value would keep people like Brandon Coats working at his job. With so much momentum for recreational and medicinal marijuana going forward, this move by the Supreme Court is a significant step backward in the wrong direction.

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Marijuana stocks are volatile, but high risk yields high rewards.  Here are some of the main stocks that I have been eyeballing for some time.  Most of them have been going down for some time and I am expecting that the time has come for them to once rise again.  The Marijuana Business Daily forcasts marijunana sales surging to $8B by 2019 and the amount of capital investing in marijuana companies has risen by over 900%.

 

Top Pick

GW Pharmaceuticals (GWPH) has been bullish since it began back in 2013.  The increase since that time has been a whopping 1,162% and 63% YTD.  GW Pharmaceuticals has been around since 1998 and has focused on drugs for medical research.  The cannibinoid component of the research has been geared towards treatments of the Central Nervous System. The current stock price is $114.11 and is down about 6% from the all time high on April 24th.  A new product is a treatment called Epidiolex that treats a form of childhood epilepsy.  

 

Vape Holdings, Inc. (VAPE) is founded by CEO and Chairman Kyle Tracey, a former president and co-founder of GrowLife Inc, Joseph Andreae, Allan Viernes, Benjamin Beaulieu, and Mark Scialdone, all with tons of experience in the MMJ industry.  The VAPE Holdings brands include HIVE Ceramics that produces ceramic elements for vaporizers and custom design work, HIVE Supply, and Nouveau. HIVE Ceramics that produces ceramic elements for vaporizers and custom design work.  Hive Supply provides packageing and sourcing services and is described as a "one-stop shop" for marijuana packaging necessities on their website.  Nouveau is a website design and marketing company based in LA.  The stock is currently priced at $0.52, down from high of $3.10 in July of 2014, a 82% loss.  YTD yield is down 33% but has been trending upwards of 30% since the start of May.  The market cap is $5.9M.

 

Growblox Sciences, Inc. (GBLX) focuses on cutting edge research and product development for medical marijuana.  Their products include vape oil, flowers (buds), lozenges, patches, and the GrowBlOX system that will enable indoor cannibus cultivation in a sterile box.  The stock is down about 7% since the start of the year and is up 129% since March 27th.  Current price is $0.39 and the market cap is $13.7M.

 

Medical Marijunana, Inc. (MJNA) has been conductor of the bear market train since their previous peak of $0.37 on January 31st, 2014.  The price has declined 79% to a low of $0.08.  This penny stock has been all over the news after recently coming out with a sales increase of 280% in 2014.  Medical Marijuana Inc. holds several companies including HempMeds, KannaLife, KannaWay, Canchew, Canipa Holdings, and more.  In addition, they hold products including Real Scientific Hemp Oil, Dixie Botanicals, skin care products, vape products, CBD hemp oil supplements, and the Canchew hemp gum (first in the industry).  Medical Marijuana Inc. was the first publicly held company in the marijuana industry and has a volatile past with surges in 2009, 2013, and 2014. The stock has flatlined since Tuesday and we are excitedly expecting something to happen here on Monday morning.

 

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