FDA and DEA Privately Discuss Rescheduling Cannabis

12/24/2015

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Despite clear evidence supporting the effectiveness of cannabis at treating a variety of conditions, the plant has long been classified as a Schedule I drug by the US government, painting it as a substance with a high risk of abuse and no accepted medical use. Recently, however, the FDA submitted a recommendation to the DEA to review the plant’s current status, perhaps an indication that the federal government is considering a change to this outdated and erroneous classification.

The catch: nobody except the FDA and DEA knows what that change would be and what information it will be based on.

Perhaps this is a sign that the FDA and DEA are beginning to cave under the pressure of the general public, the majority of whom support legalization. Given the DEA’s horrible track record with cannabis and patients who use it, however, the secretive nature of this decision is concerning. When considering a change to a drug’s classification via the Controlled Substances Act, the government must take into account a thorough medical and scientific review.

With the closed-door nature of the process, the general public will not know what new information is being considered and what the proposed new classification will be until after the decision has been made.

In an interview with Marijuana.com, who first broke the story, Mike Liszewski of Americans for Safe Access said, “We hope the agencies will become more transparent and give medical marijuana patients the respect they deserve.”

Photo Credit: NCinDC

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Portland Cannabis Community to Gift Snoop Dogg $5,000 Worth of Oregon Pot Products

12/24/2015

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It’s one hundred percent legal under Oregon law to give away cannabis, and the local cannabis community in Portland is taking full advantage of this allowance. According to reports from The Oregonian, a couple dozen Oregon cannabis companies have pooled together resources to present Snoop Dogg with a gift: close to $5,000 worth of top-shelf Oregon flower, edibles, topicals and more.

Snoop is performing in Portland next Tuesday. Before going onstage, however, he and his crew will be given the gift, which was organized by Joshua Jardine Taylor of Portland. Taylor writes about cannabis for The Mercury, and recently founded Oregon’s Cannabis Concierge. “It was remarkably fast,” Taylor said. “… honestly, the feedback has been tremendous as far as people bringing me a lot more than I expected, people showing up with 2 ounces of their finest flower or 15 of their edibles.”

Naturally, the gift includes way more cannabis than legal limits allow (personal possession in Oregon is capped at one ounce of flower, one pound of edibles, 72 ounces of fluids, and one ounce of extract), so Snoop Dogg will be given first dibs on the products before the rest trickles down to his crew.

Photo Credit: MPM *** Música Para Marzianos

 

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New Hampshire Reps. Pre-File Cannabis Legalization Bill

12/23/2015

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A bill has been pre-filed in New Hampshire for the 2016 legislative session that would legalize the possession of marijuana for adults 21 years and older, according to a recent report by The Daily Chronic.

Reps. Michael Sylvia (R-Belknap) and Robert Hull (R-Grafton) are the sponsors of House Bill 1610. The bill would allow adults to have up to two ounces of cannabis, to grow no more than six plants, and to gift up to an ounce of marijuana to someone else.

Like a bill passed in Washington D.C., HB 1610 would not legalize retail sales of cannabis.

New Hampshire’s motto is “Live Free Or Die,” yet remains the sole New England state where cannabis possession is a criminal offense. According to NORML, marijuana possession arrests in New Hampshire come in at around 2,900 a year.

Possession of marijuana is a misdemeanor in New Hampshire, and can get you put behind bars for a year and fined up to $2,000. Previous attempts to decriminalize cannabis have been defeated in the Senate, although recent polls indicate strong voter support for legalization.

Granite State citizens in favor of the bill should by all means get in touch with their representatives. Residents can contact their legislators via NORML’s site.

Photo Credit: Teemu008

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President of Colombia Signs Decree to Legalize Medical Cannabis

12/23/2015

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Colombian President Juan Manuel Santos signed a decree Tuesday making the cultivation, processing and distribution of medical marijuana fully legal in the South American country.

The War on Drugs in Colombia, fueled by funding from the U.S., has created a fifty-year battle between the Colombian government and drug cartels, and has left more than 220,000 dead.

Though marijuana for medical use was authorized in 1986, no regulatory body existed to grant permits for growing, producing, or distributing it, leaving medical marijuana in a legal grey area. Colombia decriminalized the possession of small amounts of marijuana in 2013, and it is legal to grow up to twenty plants.

But until now, there was no regulatory inroad for drug companies seeking to manufacture marijuana-based medicines to access the plant. “That is what we are doing today,” Santos said.

According to Yahoo News, President Santos’s televised address focused on the medical benefits of cannabis. The decree is aimed at making the cultivation, purchase, and development of cannabis-based drugs easier for health companies.

“Our goal is for patients to be able to access medications made in Colombia that are safe, high-quality and accessible. It is also an opportunity to promote scientific research in our country,” Santos said.

Photo Credit: Julián Ortega Martínez

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Deschutes County, OR Places Temporary Ban on Retail Cannabis

12/23/2015

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County commissioners in Oregon’s Deschutes County have unanimously voted to install a 90-day ban on recreational marijuana businesses, according to Bend’s The Bulletin. After the 90 days, officials are expected to return to and readdress the subject.

The ban affects new marijuana businesses in the unincorporated areas of Deschutes County, though the decision does not affect existing businesses in the county, nor does it prevent additional cannabis businesses from sprouting up within city limits.

“I don’t want us to be the test pilot and take this straight to the crash site,” said Commissioner Tammy Baney. She warned that moving forward with regulations at the moment would be a “wild card,” and that it’d be safer to step back and see how other Oregon counties handle the challenges introduced by retail cannabis. “If we opt out today, we have an opportunity to have those challenges occur, and we can always take up this issue tomorrow, the next day, in two weeks or two months,” Baney said.

Commissioners also established a citizen-led advisory committee to review and address public concerns regarding marijuana land use regulations.

While undoubtedly frustrating for hopeful cannabis startups in the area, marijuana advocates can take comfort knowing the ban will need to be approved by county voters in the November elections to become a permanent roadblock.

Photo Credit: Andy Melton

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Detroit Passes New Medical Dispensary Zoning Restrictions

12/23/2015

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The Detroit City Council has passed new zoning ordinances that will regulate medical marijuana dispensaries. The ordinances, which come after hours of discussion among council members and comments from local citizens, could lead to the closure of half of Detroit’s dispensaries.

The zoning regulations, which were first written by City Councilman James Tate, specify that dispensaries must be:

  • 1,000 feet from a Drug Free Zone — these are defined as arcades, child care centers, educational institutions, libraries, outdoor recreation facilities, schools, youth activity centers and public housing;
  • 1,000 feet from another medical marijuana caregiver center;
  • 1,000 feet from a ‘Controlled Use’;
  • 1,000 feet from a city park;
  • and 1,000 feet from a religious institution defined as exempt by the city assessor.

The City Council had been debating an ordinance that would have allowed up to a 20% variance in the 1,000 ft. restriction: dispensaries that were no closer than 800 feet could have applied for approval, but the Council finally rejected this idea.

Instead, the Council opted to allow dispensaries to apply for approval on a case-by-case basis for a variance of up to 100%: dispensaries that are located right next to zones defined as off-limits by the ordinance can still get approval from the appeals board.

Detroit has more than 150 dispensaries currently. Matthew Abel, an attorney with the Cannabis Counsel, said that more than half of those dispensaries may be forced to close.

Photo Credit: Bryan Debus

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First Lady of Japan Considers Hemp Farming

12/23/2015

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In an interview with the Japanese magazine Spa!, First Lady of Japan Akie Abe said that studying the history of hemp has gotten her interested in cultivating the plant, which is strictly limited in Japan.

Hemp, specifically cord and clothing made from hemp fiber, plays a key role in traditional Shinto ceremonies. The plant traces its roots back to the 7th century and earlier, when the Japanese first began making traditional paper, or washi, from hemp.

Though cannabis grows wild in parts of Japan thanks to its long history in the region, the country’s strict anti-marijuana laws prevent people from picking it or smoking it. Since the Cannabis Control Act of 1948, which outlawed hemp and other cannabis products in Japan, only a few select farmers receive permits to grow the plant.

“Hemp is a plant of which all of its parts can be used effectively,” the First Lady said. “While it is not yet permitted in Japan, I think it can be put into great practical use for medical purposes as well.”

She also said she has considered applying for a special permit to grow hemp as part of an initiative to revive the tradition in Japan.

Photo Credit: toyokeizai.net

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Andrew Rosener: Investing in Cannabis Domain Names

12/22/2015

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Andrew Rosener is the founder and CEO of Media Options, one of the world’s leading domain name brokerages, having bought and sold domains for clients such as Mark Zuckerberg and Elon Musk. He has been inducted into the Domain Name Hall of Fame and received the domain name broker of the year award in both 2014 and 2015. He is also the CEO of Ganjapreneur, and over the past several years has amassed a portfolio of premium cannabis-related domains that will likely skyrocket in value as the legalization movement continues to spread around the globe.

Andrew recently joined our podcast host Shango Los to share his knowledge and experience as a domain name broker and investor and to help shed light on an industry that is not well-known to the general public. In this episode, Andrew discusses why domain names are an asset class very similar to real estate, why the negative stereotypes about “domaining” as trademark squatting are not relevant to today’s domain name aftermarket, as well as why premium domain names are valuable to start-ups and why companies who invest in a premium domain to represent their business are more likely to succeed.

Listen to the full episode below, or scroll down for the full transcript!

Subscribe to the Ganjapreneur podcast on iTunes, Stitcher, SoundCloud or Google Play.

 

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Read the transcript

Shango Los: Hi there and welcome to the Ganjapreneur.com Podcast.  I am your host, Shango Los. The Ganjapreneur.com Podcast gives us an opportunity to speak directly to entrepreneurs, cannabis growers, product developers, and cannabis medicine researchers all focused on making the most of cannabis normalization. As your host, I do my best to bring you original cannabis industry ideas that will ignite your own entrepreneurial spark and give you actionable information to improve your business strategy and improve your health and the health of cannabis patients everywhere.

Today my guest is Andrew Rosener. Andrew is founder and CEO of Media Options, a domain brokerage and investment firm. He received the domain broker of the year award in both 2014 and 2015. He has also been inducted into the domain name investors hall of fame. He founded hempbox.com, is an investor in SteepHill, vida.com, Lodo Labs, and Evoked Vaporizer and is CEO of our very own Ganjapreneur. Welcome to the show, Andrew.

Andrew Rosener: Thanks a lot. Great to be here, Shango.

Shango Los: Andrew, let’s start at the very cusp of this to get a good grasp of the market dynamic behind domain names. When speculating on domains, what is the model for actually making a profit on buying these in advance?

Andrew Rosener: It’s no different than any different asset class. That’s exactly what domains are, they’re an asset class. Although, the general public probably doesn’t recognize that. At this stage, I think we are still in the early stages of the internet and that’s becoming much more common. There’s a lot of large money, family office money, private equity money moving into the domain market, you know hedging by owning some premium domain names. The principles work the same as real estate essentially. From the investment standpoint, obviously is what I’m discussing, you’re looking to buy under market value investing in the very Warren Buffet sense of the word and then either holding or flipping. There are many ways to monetize but it’s value investing. You’re looking to find domains that you think are available to purchase for less than what they may be worth to either the wholesale market in the course of a flip or to the end user who is ultimately the company that could put good use to that domain and drive commercial value from it.

Shango Los: Choosing the right domain name seems to be the key between making no money and some money. What are the attributes you that you look for in choosing a profitable domain name.

Andrew Rosener: That’s true both from the investment standpoint as well as the end user standpoint. Having done this for as long as I have and having completed as many transactions as I have, I have seen it first hand, the companies that come to me, these startups that come to me and say, we want to buy this domain name. Whether we own it or we’re helping them to acquire domain from a third party and they say, no we’re not going to pay more than $5,000 for that premium .com. You’re like, well the domain is worth a lot more and you’re not going to get it for less. They’ll go, well I’d rather buy a .io. I say, okay fine, you’re going to pay me to acquire the domain name, I’m going to give you my advice and you can take it or not.

The ones that don’t take my advice, the ones that go out and buy that .io or .net or some other alternative extension, they don’t get the premium domain. Or they put some prefix or they put some suffix on their domain name, they don’t buy the premium domain, the right domain that they should from day one. Those businesses just have a much worse track record. I think that the mentality of the founder or the mentality of the guy making that decision is probably reflective of some of the business decisions they’re making. Obviously, there are exceptions to the rule. For the most part, I see founders that come in and buy the best domain for their business from day one, those turn out to be successful businesses.

Now, on the investment standpoint, you’re looking for very much those same domain names. You’re looking for the domain that that smart founder is going to want and more than want, ideally they’re going to need. You’re looking for domain names that represent some type of commercial service, product, whatever or something that represents a tremendous brand, a generic brand. Something like ring.com that was recently sold for a quite substantial price tag and is now the internet of things doorbell that everybody’s raving about.

I think if I had to put quantifications on it, the most common attributes that I see people looking for at the brand level is no more than six characters .com, ideally one word .com. Easy to spell, passes what we call the radio test which is if you hear an advertisement on the radio and I say visit us at xyz.com when you get home, you know how to spell it, you’re going to know exactly where to go, easy to remember, easy to spread word of mouth without having to explain it. Whereas, if it’s something like I don’t know, vanilla.com. You call your company Vanilla but instead of buying vanilla.com you buy vnla.com and you think that you’re clever and you think you’re cute but really all you’re doing is creating a branding catastrophe. Because you say, visit us you know, we’re vanilla and here’s our message and come visit us. They’re like well, you’re not at vanilla.com, you’re at vnla. Every time that you say your email address, you need to explain it to somebody, you know that can be painful.  

Shango Los: Andrew, I would think that timing is really important as well because folks like you have been collecting cannabis domain names now for several years. Some people are saying all the good cannabis domains are taken but from working with you, I know that there’s a certain amount of R&D at play here and finding out what the next wave of cannabis domains are going to be cool so that you can buy those in advance. What are the moving parts? How do you look into the future to know what good cannabis domains will be coming along.

Andrew Rosener: If you want to focus specifically on cannabis domains, I’ll say timing … On multiple levels, across the board on a daily basis I tell everybody, not just in cannabis domains but domains in general, price is very low in the hierarchy of needs in completing a successful sale and timing is very high. Timing is the absolute unequivocal most important variable in any domain transaction whether you’re buying, you’re selling, timing is everything probably 80-90% of the transaction variable equation. In terms of cannabis, there are two ways to look at. In terms of timing, yes all the good domain names are gone. Everything that is worth anything today is gone. If you register something on Go Daddy today unless it’s got some unknown meaning to the rest of the world, it’s worthless and you can tell yourself otherwise but for the most part you’re registering something that is garbage, it’s worthless. You’re probably going to have to upgrade later down the road and it’s going to cost you a lot more or you’re going to fail.

Shango Los: That sure is chipper.

Andrew Rosener: Yeah, no but it’s just a fact. I’ve conducted 100 million dollars in domain transactions, I’ve seen the guys that come, I’ve seen the guys that go, I’ve seen the ones that win, I’ve seen the ones that lose. It’s exactly what I’ve talked about before. That’s the first element of timing in terms of cannabis domains is that yes, anything that is good that has intrinsic value today is already gone. But when I say gone, all that means is that you can’t get it for $8.99 on Go Daddy. Everybody or a lot of people have it in their head that if I can’t get for $8.99 as a new registration on Go Daddy, it’s gone, it’s forever lost and that’s bullshit, it’s not true at all. There is a very active and healthy after-market for domain names.

There are a number of large portfolio owners in the cannabis market that have tremendous portfolios of cannabis-related domain names. Some are of generic nature, descriptive nature like mjshops.com. Then others are more brandable, something like bluedream.com you know, one of the iconic strains in the cannabis market. There was a company I just saw, I suppose it went public. There was a press release about a company called Pineapple Express and they launched their brand on pineappleexpress.com. That put a smile on my face just because Pineapple Express is another iconic brand in the cannabis industry. It doesn’t need to be used necessarily just for representing the strain that it describes. It can be used for any type of business because it has that mind share. Mind share is another one of these variables that we should probably come back to later in the conversation.

People immediately, if you say my name is bluedream.com, my name is sourdiesel.com, people know the industry you’re operating in from the start. What you offer in that market is up to you but you’ve already captured some degree of mind share. You’ve already created an instance where people know who you are, they’re going to remember who you are, they’re going to know where to find you. Ultimately, that is what domain names are all about. If we look back, why do we have these types of domain names? Well, because we started out with these long strings of IP addresses that nobody could communicate or remember and we needed a way to facilitate something else that would be more memorable, something that would be more communicable, that would express a message, a communication.

That’s ultimately the underlying value of a domain. You’re looking for attributes that further help to achieve that value, that memorability, that ease of communication, easy to spell, easy to … The shorter the domain name, the faster it is to get onto your website, particularly in a world where mobile internet use is now exceeding desktop internet use. If you’re on your mobile phone, you don’t want to type in a 12-character domain name or a 24-character domain name that’s three words. The shorter it is, the better it is.

Shango Los: I think that’s a good example that it is much more like real estate, where even thought the domain name that you want may not be available at $8.99, you can definitely find it on the secondary just like you can buy a piece of real estate on the secondary market. We’re going to take a short break and be right back. You are listening to the Ganjapreneur.com Podcast.

 

Shango Los: Welcome back, you are listening to the Ganjapreneur.com Podcast. I’m your host Shango Los and our guest this week is Andrew Rosener of media options. Before the break we were talking about the attributes of what makes a good domain and how best to go about getting it. Andrew, to kind of use your own portfolio as an example to educate folks on how to put together the entirety of a portfolio, what have you collected recently and what are some of the domains in cannabis that you’ve got that you think are going to be winners long term?

Andrew Rosener: I’m happy to discuss that. One point I just want to quickly make. Before we cut out for the break, we were talking about the similarities to real estate. I want to emphasize how true that is. Just the way that real estate deals are done and like you said, the open land. If you want to buy let’s call .com is like Los Angeles or New York or Miami, the prime real estate markets. Just like you can’t find an empty lot there anymore, if you want to buy something in those markets, you’re going to buy it in the after market. The same is true here with domain names. Those transactions can be structured in many different ways.

It’s not just that, oh you’re going to get raked over the coals. If you’re dealing with an intelligent operator, there’s a lot of ways to skin a cat so to speak. You can do a lease. Leasing has become a very popular way of handling a domain transaction for a high value domain. Even that lease can be structured in many different ways. You can do a straight lease where it’s a fairly low monthly payment. The domain generally would get held in escrow by a third party escrow service. We like to use a company called escrow.com, licensed, bonded escrow service, state of California. They hold the domain name, nobody has to worry. The transactions are 100% secure on both sides, everybody is protected. The payments go to the escrow service, they confirm receipt, then they send the payment to the lessor or the seller.

Then you have a lease with an option to buy where people can say yeah, I’d love to buy bluedream.com. Obviously, you can’t get that for $8.99 at Go Daddy, it’s going to cost you some money. Maybe you can’t afford to buy it now because you’re a startup in the cannabis space as most businesses today are. This is a relatively new industry so pretty much everybody is a startup. Big or small, everybody is a startup for the most part. Conserving cash flow is pretty critical for startups. If you can’t lay out a lot of cash upfront to get your domain, don’t give up hope. It’s still better to enter into a lease.

It’s still better to enter into a lease to own where you pay a monthly fee to lease a name. You get full use of the domain, just as if you owned it but you have the option to buy that domain at some time during the course of the lease. It might be a year, it might be three years, it might be five years. Every deal is different. But you’ve got an option to buy that domain name when your company achieves a point where you can afford to but it. You raise money from an investor or a group of investors. Maybe you become cash flow positive and suddenly you’re making a lot of money. Maybe you get acquired by somebody bigger and they say okay, let’s get rid of that lease and let’s just buy out the name.

Alternatively, there are equity deals where there may be some cash, there may not be some cash but there’s an exchange of equity. Early on you had mentioned I was a founder in Hemp Box. I wasn’t the founder, I was one of the initial founders. When they were getting that idea off the ground, they came to me because we had hempbox.com and the way that we structured that deal was with equity. I came in, I offered a lot of my guidance and advice as somebody who has been extremely successful in the online media business and I give them my domain name in exchange for a piece of equity and helped to found hempbox.com. We’ve done many deals like that.

Shango Los: Circling back around to your own portfolio, what are some of the domains that you’ve collected that you think are going to be the winners? The goal here is not so much as to point out on how much money you’re going to make on these is that more so that you can model for folks what a successful portfolio would look like.

Andrew Rosener: We’ve got some great ones. The top of the pack is clearly mj.com, two-letter.com basically the single most valuable asset class on the internet. They’ve all been gone since the early ’90s. Basically, they have a liquid, absolutely liquid market in the seven figures. That’s definitely the biggest name we have in the cannabis base. Then we’ve got lots of great brands related to strains like bluedream.com, sourdiesel.com, chemdog.com, grapeape.com, afhganica.com. It goes on and on, hinducush.com. Lots and lots of the top iconic strain names. Then we’ve got more generic names like tincture.com or tinctures.com, shwag.com, strains.com, landrace.com. Then we’ve got some sort of more like clever phrases, something like passitaround.com or mycannabis.com or myweed.com, gosmoke.com, things like that.

Shango Los: I can see how each of these are actually appealing to a different segment of the market. Some of them might be used by an established company that wants to extend their brand into a slogan. Some might want to leverage a famous strain and others are just vocabulary that’s really common in the industry that someone could build their brand around. It sounds like by putting together a portfolio, you’re decreasing your risk by increasing the variety of what’s in the basket so all sorts of different buyers would be coming to you instead of just one kind of buyer.

Andrew Rosener: Absolutely, absolutely. You’re trying to get exposure to as many elements of the market as you possibly can. Any type of investing is about hedge your risk, making sure that you’re taking advantage of any of the opportunities so that you don’t go 100% down this path and then the success ends up down the other path. You want to make sure you’ve got exposure across the board.

Shango Los: Let’s talk a little bit more about the buyer. If choosing the right way to sell your domain names is such an important aspect of making money, what do you think is the best way to go about it? It may be a case-by-case basis because you can sell through broker sites, yourself on an auction, or you can do direct sales by reaching out to a company that you think is a good target for it. How do you think is the best way to be getting the most for these domains that people are collecting?

Andrew Rosener: I think on a case-by-case basis it differs. On a very high value domain name, I think it’s generally best to use a broker. There are a lot of variables, a lot of sensitivities to negotiating a high value domain transaction. There’s a lot of education involved generally in terms of why is this domain worth that much. There’s intricacies involved in the transfer. Obviously, people are much more concerned about risk when it’s a high value dollar amount. On anything $10,000 or more I think using a broker is probably intelligent. I don’t think auction sites are necessarily the best way to say a cannabis-related domain name today just because I don’t think the market has evolved yet to where it should be where there’s enough liquidity in the market to say, okay I’m going to roll the dice throw it up on an auction and hope for the best.

In terms of direct sales, it’s just up to the individual. Some people are good at sales, some people are comfortable with sales, some people are comfortable getting on the phone and discussing things with people, some people are not, a lot of people are not. I think that’s just up to you. If you’ve got a good domain that you think you know who some of the great users are, email them. Send out some emails, makes some phone calls, try to network a little bit, and see if somebody wants to buy your domain.

Shango Los: I know that in the early days and maybe even still now, you’ve actually been on the phone yourself calling the decision makers at these companies who you think are a good target for your domain name. Do you find … I can imagine that some people might think that that is a hoax or something and that wow, you’re actually bringing me this domain I’ve always dreamed of. How do you get over that hump into believability with whoever your target is?

Andrew Rosener: It all comes down to reputation. I just tell people look, Google my name, Google my company name. We’ve got an exceptional reputation. I sell domain names to … I’ve sold Mark Zuckerberg a domain name, I’ve sold Elon Musk domain names, you name it. Basically, I’m the top domain broker in the world. Pretty much I’ve sold domains into every category of every business and service known to mankind around the world. If trust becomes an issue, I just basically say here’s a contact, call these people or Google my name, look at what people say about me, look at what I’ve done. That’s basically what it comes down to but ultimately yes, domain names and people that own domain names for speculative purposes, there’s still a bad reputation out there which shouldn’t necessarily be the case anymore. It’s not about trademark squatting anymore. The value is in these generic high value brands.

Shango Los: That’s a really good point for new entrepreneurs to make sure you keep your own personal name brand clean and make sure people are saying good things about you and referring you instead of bad things. It’s time for us to take another short break. We’ll be right back. You are listening to the Ganjapreneur.com Podcast.

 

Shango Los: Welcome back, you are listening to the Ganjapreneur.com Podcast. I’m your host Shango Los and our guest this week is Andrew Rosener of Media Options. Andrew, before the break we were talking about how to know when you’ve got a good portfolio put together. I would think that there’s a certain time to give up on domains that you’ve been paying dues on for a couple of years and you’re realizing, oh man, this is just never going to make me money. How do you decide when there is a dog in the basket and you just need to stop paying on it?

Andrew Rosener: Good question. We get a lot of people almost every day emailing us with lists of just terrible domain names that have no value to anybody. Ultimately, I think when you’re evaluating your names, you look are the words in the wrong order. You know, dream blue is not the same as blue dream. Are you getting clever with some kind of prefix or suffix that really today has no value even if you think somebody someday might want that.

At the end of the day you’re paying ten dollars a year on average to maintain these domains. If you’ve got a hundred of them, that’s $1,000 a year. After a couple of years, that starts adding up. That crap domain that you’ve unless you’re going to sell it for some multiple of those thousands of dollars that you’ve been paying to maintain the overall portfolio, you’re not even going to make up even if you sell one name for $2,000, you’re not making up for the renewal fees you’ve been paying on the rest of the crap portfolio for years. I think if you’re not getting inquiries, if it doesn’t have any traffic, if it doesn’t have immediate intrinsic value and mind share, then it’s probably not worthwhile.

Shango Los: I’m sure that we’ve got quite a few listeners who tuned into the podcast because they themselves have collected a handful of cannabis domains and now from listening to you, they totally get the example of this is real estate and so now they may be excited to buy some, I guess what I’ll call after market stuff that’s not $8.99 on Go Daddy anymore. Investor to investor, what advice would you offer people who want to get deeper into domain investment … how to start out and get professional.

Andrew Rosener: First and foremost ground rule number one, having one premium domain that cost you $1,000 is way better than having 100 crap domains that cost you $10 each. Ground rule number one. Don’t go out and try to register your domain names because honestly like I said, unless you found some trend and you’re getting the exact match .com domain name for that trend and even that, trends are fleeting. It’s all about timing.

I would focus on buying a premium name that has staying power. If it costs more than you’re comfortable with, get comfortable. Buy the one name and don’t go out and buy a bunch of crap smaller names. Buy the right name from day one. When you sell that, take some money off the table or just double down and then go out and buy two more. Always, when you’re looking to invest in domain names, always focus on am I improving the quality of my portfolio? Does this incremental investment increase the value of my portfolio? Is it better than the domains I already have in my portfolio or is it going to drag down the portfolio in terms of overall quality average. You’re always looking to push the average quality of your domain portfolio up.

Shango Los: That’s really great feedback. Now that they’ve built this and they want to sell then, you’ve mentioned that working with a quality broker is a good idea because yes, you’ve got a website but really it’s about the connections that you’ve got and being able to connect with people like Elon Musk to be able to sell these premium domains. After you have a portfolio and you’re ready to sell a couple, what questions should you be asking a broker to make sure that you’re choosing a good one?

Andrew Rosener: Unfortunately, there aren’t a lot of great brokers out there. Basically, you want to make sure they’re not trying to buy the domain themselves to flip it. If they are, that’s not necessarily a problem, you just want to make sure that it’s transparent. You want to make sure you’re paying a fair fee which is generally between 10-25%, it depends on the value, it depend on the name. If it’s a smaller name, the commission is probably going to be higher. If it’s a very large name, the commission is probably going to be smaller, the rate of commission.

You also want to be giving them the appropriate tools they need like an appropriate ask price, an appropriate reserve price. You don’t want to be … If you’re shooting for the moon, you’re probably wasting everybody’s time. You want to put them in a position where they are set up for success. You’ve given then an accurate and meaningful ask and reserve price, you’ve given them and effective and sufficient amount of time to market your domain name exclusively and effectively. You want to be transparent with them about inquiries that you’ve received, providing them with contacts that you’ve gotten before. I think relationship is a lot. Get on the phone, have a conversation, make sure you’re comfortable with that person. I think more than anything, that’s probably the most important.

Shango Los: Right on. I can imagine that we’ve just encouraged and totally jacked up a whole bunch of people who are now ready to jump in with both feet. We’re wrapping it up here now, Andrew. Thank you so much for being on the show. I’m glad you could join us.

Andrew Rosener: It was great to be here.

Shango Los: You can find more about Andrew Rosener and Media Options at mediaoptions.com. You can find more episodes of the Ganjapreneur Podcast in the podcast section at Ganjapreneur.com. You can also find us on the cannabis radio network website and in the Apple iTunes store. On the Ganjapreneur.com website, you will find the latest cannabis news, product reviews, and cannabis jobs updated daily along with transcriptions of this podcast. You can also download the Ganjapreneur.com app in iTunes and Google Play. You can now find the show on the I Heart Radio Network app, bringing Ganjapreneur to 60 million mobile devices. Do you have a company that wants to reach our national audience of cannabis enthusiasts? Email grow@ganjapreneur.com to find out how. Thanks to Brasco for producing our show. As always, I’m your host, Shango Los.

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Pittsburgh City Council Votes to Decriminalize Cannabis

12/22/2015

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In the final moments of its 2015 legislative session, the Pittsburgh City Council voted 7-2 in favor of the decriminalization of cannabis within city limits.

Councilman David Lavelle sponsored the bill, which makes the penalty for possession a civil fine of up to $100 when dealing with small amounts of cannabis: up to 30 grams of flower and up to 8 grams of hashish or other concentrated marijuana products.

Mayor Bill Peduto intends to sign the bill and, according to a spokesperson from the mayor’s office, sees this development as “a common-sense change that will help protect the futures of young people.”

Marijuana activist Patrick Nightingale praised the move, saying that the change “will protect Pittsburghers of all colors and all ages from unwarranted and unnecessary police interactions, and it will help police more efficiently utilize limited resources.”

Councilman Ricky Burgess — who voted in favor of decriminalization — said that while he does not condone drug use, “I think young people who make mistakes should not suffer lifelong consequences on something that I think is perhaps not life-threatening.”

Councilwomen Theresa Kail-Smith and Darlene Harris were the only to oppose the bill, and claimed to do so because they believe such a move would be more appropriately taken by state lawmakers.

Photo Credit: Jon Dawson

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Australian Anti-Cannabis Ad Campaign Backfires

12/22/2015

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The New South Wales Department of Premier and Cabinet in Australia released an anti-marijuana ad campaign this past week, depicting stoned teenagers as incompetent, oversized sloths.

The ads are comical in their absurdity, and have evoked a mocking reaction from the Australian public. Already dozens of parody videos of the “stoner sloths” have popped up on Youtube. Adweek calls the campaign by prominent Australian ad company Saatchi & Saatchi “tone-deaf.”

Though Australia’s National Cannabis Prevention and Information Centre was originally linked with the ads, they have now distanced themselves from the bizarre ad campaign, according to The Guardian. The NCPI states they were only consulted briefly before development.

“In this case, those general recommendations were things like being aware that teenagers are intelligent and have access to a lot of information, so campaign approaches should respect them and give them credit by avoiding hyperbole,” the statement said.

The “stoner sloth” ad campaign did the exact opposite of avoiding hyperbole and respecting the intelligence of teenagers, and now NCPIC is demanding the NSW government remove their name from the ads.

“NCPIC was not consulted on any of the creative elements of this campaign,” said NCPIC director Jan Copeland, “They have used our name to cover this campaign … We are going to ask them to print a retraction that it is based on work that we did.”

In a strange twist, one of the ads even appears to be promoting alcohol use as a “party-friendly” alternative to weed. In the ad titled “Life of the party… said no one ever,” the incomprehensible groaning of the stoned sloth turns off his more fun, party-going friends—all of whom are carrying red plastic cups, the international symbol of alcohol at house parties.

Photo Credit: Screen capture from Youtube.com

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Washington Considers Plan for Hundreds of New Cannabis Retailers

12/22/2015

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In an effort to meet demand from the soon-to-be defunct medical marijuana industry in Washington, staff members of the state’s cannabis regulatory agency have announced they hope to extend the marketplace with an additional 222 retailer licenses — plans that would increase total licenses statewide by 66 percent and would nearly double the current number of licensed pot shops in Tacoma and Thurston County.

Current regulatory constraints require all medical dispensaries to either secure a cannabis business license or close down by July 1, 2016, The Olympian reports.

Recent estimates figure that 37 percent of all Washington marijuana is currently sold through the unregulated, medical ‘grey market.’ Meanwhile, already-licensed retailers reportedly make up for another 35 percent.

“With the inclusion of medical we might be somewhere around 50 or 60 percent after a year or two, so I think that’s putting a pretty large dent in the black market,” said Rick Garza, head of the state Liquor and Cannabis Board. “But I think we’re always going to have an illicit black market.”

The Board may take a vote on the issue as early as January 6, and newly licensed stores could start opening later that month.

With this move, the number of total marijuana licenses allowed by the state would rise from 334 to 556, and some experts predict that by the July 1 cutoff more than 350 stores could be licensed to provide medical cannabis. There are currently about 190 licensed recreational stores in Washington and roughly 150 businesses are licensed to provide medicinal cannabis.

Photo Credit: Harvey Barrison

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Maryland Officials Announce Six Month Delay of Medical Cannabis Licensing Process

12/21/2015

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The licensing of Maryland’s medical marijuana industry will be delayed until at least the summer of 2016, the Maryland Medical Cannabis Commission announced via press release on Monday.

The delays are the result of higher-than-anticipated interest in the marijuana business licenses: last month, the state announced it had received more than 1,000 license applications. 811 applications were for dispensing licenses. Maryland is limiting the number of dispensary licenses on a per-county basis, however, meaning many applicants submitted have more than one application, the total depending on which and how many counties they wish to serve — this has also slowed the process.

MMCC Executive Director Hannah Byron said in a statement:

“Before medicine can be dispensed, it has to be grown, processed, tested and packaged. Therefore, we will first issue Stage One approvals for grower and processor licenses, with Stage One approval for dispensary licenses to follow. This sequential approach mirrors the operational needs of the program and represents the most efficient means of processing each category of application.”

Applicants who receive approval for Stage One of the licensing process are encouraged to begin fulfilling any outstanding requirements to satisfy the Commission before they can formally receive a license. Some hopefuls, however, are already stepping up to the plate by raising more capital, acquiring appropriate real estate and beginning to maneuver the bureaucratic process of reaching full compliance with state marijuana laws.

“This proactive approach on the part of applicants certainly will help expedite the program’s rollout schedule so that Maryland patients can begin receiving medicine at the earliest possible date,” said MMCC Chairman Dr. Paul W. Davies.

With cultivation licenses expected this summer, it will likely be another four to six months before any medicinal cannabis products are ready to be brought to market. Patients may be waiting until 2017, four years after voters initially approved the program.

Photo Credit: Charlie Stinchcomb

 

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Central Oregon Tribe Moves Ahead With Plans to Grow and Sell Cannabis

12/21/2015

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Members of the Confederated Tribes of Warm Springs — located in central Oregon —have approved a plan to grow and process cannabis on their reservation. Sales to stores outside the reservation are set to begin near the end of 2016, The Associated Press reports.

Officials estimate that the plan, which includes a 36,000-square-foot greenhouse facility for production and processing, would create at least 80 jobs and bring in more than $26 million a year in revenue.

According to the tribes, they plan to work with state agencies to verify that all processes are in line with state laws and regulations.

Don Sampson, who spoke on behalf of the tribes’ economic development branch, said: “Our main purpose is to create jobs on the reservation and produce revenue for the tribes. We think we will have a model other tribes will look to as they investigate this business and industry.”

A year ago, the U.S. Department of Justice indicated in a memo that Native American tribes could legally grow and sell marijuana on their reservations. Despite that, tribes that have sought to take advantage of this advancement in the law have met with some resistance, particularly in states where marijuana remains illegal.

In October, the Menominee Nation’s Wisconsin reservation was raided by federal agents, who destroyed some 30,000 cannabis plants. The tribe has sued two federal agencies in response to the raid.

Federal agents also raided the Alturas and Pit River Indian rancherías in Northern California this summer, where they seized 12,000 cannabis plants.

The South Dakota Flandreau Santee Sioux, which had been advancing in its plans to create the first marijuana resort, burned its crop in November following fears of a similar raid.

Despite the setbacks, other tribes are still pursuing plans to get into the industry, including the Suquamish and the Squaxin Island Tribe in Washington, the Passamaquoddy Tribe in Maine, and the Omaha Tribe in Nebraska.

Photo Credit: Baker County Tourism

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Pierce County, WA to Reconsider Legal Cannabis

12/21/2015

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After three years of legal recreational cannabis, Washington state is still working out some details.

The latest obstacle for Washington legalization is taking the form of a do-over vote in Pierce County, home of Tacoma, Washington’s third-largest city. The unincorporated parts of the county will be asked to reconsider legal marijuana in April, 2016. This decision stems from a December 15 vote held by the Pierce County Council, in which the Council voted 4 to 3 in favor of lifting the local ban on the recreational cannabis industry. After moving to lift the ban, an amendment was later added calling for a special election that would redetermine the county’s stance on legalization — this vote passed 4 to 3 on party lines. Councilman Doug Richardson (R) was the swing vote in each case.

Councilwoman Joyce McDonald, who voted to hold the re-do and uphold the ban, told the Tacoma News Tribune, “It’s important for me to get the voice of the people in unincorporated Pierce County, to see how they feel about this. Let the people who will be affected have the opportunity to have their voices heard.”

Councilwoman Connie Ladenburg (D), who voted to lift the ban and against the amendment, disagreed: “The people of Pierce County have already decided this in 2012, when 55% of Pierce County residents voted to legalize marijuana for adult use. The vote is not binding, so this is really like a 400 thousand dollar poll. We could use that money for marijuana education and youth prevention, rather than spending it on this expensive poll.”

Councilwoman Ladenburg points out that if the advisory vote fails, then the county will be able to start regulating marijuana businesses in the county within a month. In the meantime, Pierce County, WA continues to be in limbo when it comes to marijuana regulations, with an estimated 80 unregulated medical marijuana shops operating in the county today.

Photo Credit: Scott Hingst

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Florida Medical Cannabis Advocacy Group Announces 900,000 Signatures for MMJ Reform

12/18/2015

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United for Care — the political advocacy group driving a campaign to see medical cannabis legalized in Florida in 2016 — has announced the success of their latest signature-gathering campaign, The Daily Chronic reports. The signature drive ended with an astonishing 900,000 signatures collected in favor of statewide medical marijuana reform. United for Care is the organization behind Florida’s 2014 attempt to legalize medicinal cannabis.

According to a press release published yesterday on the organization’s website, “The Florida Supreme Court has put it’s stamp of approval on the 2016 version of the medial marijuana petition, paving the way towards it’s imminent placement on the ballot.”

There have been minor changes made to United for Care’s legalization model, but with 57% of the vote secured in 2014, it is clear the Florida voters are growing more amenable to the notion of compassionate cannabis reform. The proposed reform would take place as a constitutional amendment, and would legalize cannabis use in the treatment of cancer, glaucoma, HIV/AIDS, hepatitis C, ALS, Crohn’s disease, Parkinson’s disease, multiple sclerosis and “other conditions for which a physician believes that the medical use of marijuana would likely outweigh the potential health risks for a patient.”

Florida requires constitutional amendments to be approved by at least 60% of the voters before becoming law. United for Care expects to have no problem passing that threshold this year, despite complaints from patients about the amendment not including options for homegrown cannabis.

Photo Credit: Brad Clinesmith

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Delaware Cannabis Decriminalization Bill Goes Into Effect

12/18/2015

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Marijuana possession has just been decriminalized in Delaware, as House Bill 39 went into effect this morning. Adults 21 and older no longer have to fear criminal repercussions for possessing up to an ounce of cannabis. The implementation of the bill is expected to save the state millions of dollars in enforcement costs.

Previously, those found to be guilty of marijuana possession in the Blue Star State could be subjected to a stay of up to 90 days behind bars and a fine of up to $575. House Bill 39 changes that penalty to a civil fine of up to $100.

The decriminalization policy was actually signed in June by Gov. Jack Markell, and had been lobbied for by the Marijuana Policy Project. Markell signed the bill into law just an hour after its final passage through the Senate. It was sponsored by Rep. Helen Keeley in the House and Sen. Margaret Rose Henry in the Senate, who also chairs the Judiciary Committee. Sen. Henry had stated that the new law “will remove the potential implication a criminal record can have for a person seeking employment, housing, and education.”

Smoking in public remains a criminal offense under the bill as a misdemeanor punishable by up to a year behind bars.

Photo Credit: Chris Connelly

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Marijuana for Trauma: Advocating Improved Cannabis Access for Canadian Veterans

12/18/2015

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As per Health Canada’s Marijuana for Medical Purposes Regulations established in 2001, patients across Canada suffering from certain debilitating conditions can be prescribed medical cannabis. If they register with a licensed producer, they can purchase said cannabis. Veterans returning from war are sometimes prescribed cannabis to treat symptoms of PTSD — the Canadian Veterans Affairs actually covers the cost of the medicine — but the healing process often requires more than just access to the plant itself.

Marijuana for Trauma Inc. (MFT) is one group working hard to improve Canadian veterans’ access to medical cannabis. This New Brunswick-based nonprofit serves veterans seeking medical cannabis throughout Canada. Fabian Henry, the founder of Marijuana for Trauma and a veteran combat engineer who suffers from PTSD himself, said, “The goal of MFT is to help veterans completely integrate cannabis into their lives. We don’t look at it as a short term treatment.  After Veterans go through our program, they are ready to work more on their underlying medical problems.”

“We’ve sadly lost six veterans who were in our program,” said Henry, who uses cannabis to treat his PTSD symptoms. “They either didn’t get cannabis quick enough, or went off it, and back on to pharmaceuticals.” MTF also helps vets navigate the sometimes-confusing maze that is the Veterans Affairs approval process. All of their services are free, but the organization happily accepts donations.

The group, which has five locations and currently serves about 1,000 veterans, is using a three-phase approach:

The first phase involves getting veterans off of pharmaceuticals, coupled with getting them access to cannabis as quickly as possible. The second phase begins to incorporate other therapies such as neuro-feedback and hyperbolic-oxygen therapy to help treat traumatic brain injuries; during this phase, enrolled patients also mobilized into peer support groups, given general cannabis education, and are offered help obtaining equipment to facilitate safe cannabis consumption, such as vaporizers and canna-cooking equipment. The third and final phase, which is coming up soon, will include a thirty-day nature retreat involving sweat lodges.

According to Dr. Darrell Hudson, a molecular biologist and geneticist who has worked with MTF, developing strains effective for treating PTSD since 2013:

“These veterans were trained to be on guard and quick-reacting, which rewired the brain to be in a constant state of stress. Add on top of that the stress, and images, of war, and these folks can really have problems. By using cannabis, such as certain high THC strains bred from the Kush family, veterans are able to interrupt the stress pattern in their brain. It acts like a reset switch.”

Fabian hopes the newly-elected Canadian government will soon loosen recently-passed restrictions on medical cannabis.

Photo Credit: ResoluteSupportMedia

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California-Based ProjectCBD Solidifies CBD Advocacy In Seattle, WA

12/18/2015

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California-based patient education organization ProjectCBD conducted an outreach event at a private residence in Seattle,WA on Thursday night. ProjectCBD spokesperson Sarah Russo travelled from Sonoma County to meet and engage local CBD activists, entrepreneurs and cannabis growers with the goal of better solidifying CBD advocacy on the west coast.

The invitation-only event was attended by about 30 professionals representing at least 20 Seattle companies interested sharing best practices in sourcing, grading and processing a steady and reliable stream of CBD-focused medicine for the ill.  Attendees discussed CBD from cannabis, CBD from hemp, the state of the law, overseas sources, and quality standards. Sarah Russo said, “The main goal of Project CBD is to increase the awareness of and research into whole plant CBD medicine and its applications,” which was met with applause from this supportive audience.

The group struggled with the fact that hemp-derived CBD was so available right now while whole-plant cannabis-derived CBD is still so difficult to get, even though it is a much better medicine. Also, the inconsistent laws at the state and federal levels were described as slowing the process of getting CBD medicine into the hands of patients.  In attendance were representatives from LeBlanc CNE, Mary’s Nutritionals, Cannabis Basics,  VIMEA, Analytical 360, Mary’s Medicinals, The Cannabis Alliance, The Association of Safe Access Points, NORML Women of WA, Circanna, WAM Oil, the Northwest Farmer’s Union and many others.  ProjectCBD gathered those in attendance towards co-supporting each other in CBD medicine efforts and plan further gatherings.

More info at www.ProjectCBD.org.

Photo Credit: Shango Los

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2015 Emerald Cup Awards Ceremony Video

12/18/2015

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The 2015 Emerald Cup took place last weekend at the Sonoma County Fairgrounds in Santa Rosa, California. It was an amazing opportunity to hang out and network with cannabis industry leaders, make new friends and have some good old fashioned fun — Ganjapreneur was more than excited to be in attendance.

This year’s event drew a larger crowd and offered more opportunities to explore the cannabis industry than any before it.

Overall, the weekend was grey and drizzly. Rays of sunlight caught through intermittent breaks in the clouds had people hopeful that it might warm up, but in the end it was good company, good food and the event’s endless festivities that kept attendants cheerful.

There was a huge tent dedicated to Prop. 215 medical marijuana patients, which was packed with vendors offering flower, concentrate, seeds and edibles. The ‘Hall of Flowers’ was ripe with ancillary cannabis products like fertilizers, grow supplies, apparel and magazines. Food choices were of the utmost quality, ranging from raw, organic vegan options to high-end brats, Indian food, and churros.

Distinguished speakers from around the world gave presentations and engaged with audiences, offering insights into medicinal cannabis use, botany and culture. Many experts brought to the event are colleagues who rarely see each other face to face, and emotional excitement seemed to permeate the fairgrounds as old friends were reunited.

In the evenings, it quickly became dark and folks moved into the music tent, where the happy celebrations of the day became even more contagious.

Looking for more on the Emerald Cup, or to re-live this year’s epic turnout? Check out our front-row footage of the 2015 Emerald Cup Awards Ceremony!

Part 2 of the 2015 Emerald Cup Awards Ceremony.

Photo Credit: Shango Los

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Vireo Health Develops New CBD-Rich Cannabis Strain

12/18/2015

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Vireo Health and Minnesota Medical Solutions (MinnMed) have developed a “new type” of cannabis plant boasting a cannabidiol (CBD) to tetrahydrocannabinol (THC) ratio of 34-to-1, the companies announced. The findings were discovered by an independent third-party laboratory analysis.  

“This is likely the most CBD-rich strain in the world, though it’s difficult to know for sure, because testing is not as rigorous and transparent as it should be,” Vireo Health CEO Dr. Kyle Kingsley said in a statement.

The medical benefits of CBD rose to prominence when the CBD-rich “Charlotte’s Web” strain was featured in the 2013 CNN documentary “Weed.” CBD-rich formulas are commonly used for anti-seizure and anti-inflammatory treatments. The ratio of CBD to THC in Charlotte’s Web is around 20-to-1.   

Due to the low levels of CBD in traditional cannabis strains, typically 1-to-1 CBD to THC, a large volume of plants are required to extract relatively small CBD amounts, making high CBD formulation medicine costs high. The new strain, dubbed “Katelyn Faith,” was developed at MinnMed’s Otsego, Minnesota greenhouse and the company expects it to be available in the state in “six to eight months,” according to a release.     

“This is a great example of how patients benefit from our focus on scientific research,” Kingsley said. “This discovery will eventually lead to lower prices for many patients.”

Federal and state laws prohibit exporting medical cannabis across state lines, so Katelyn Faith will only be initially available to patients in Minnesota but Vireo hopes to replicate the strain in the other states it is licensed to operate. Vireo is one of five companies licensed under New York’s Compassionate Care Act who are expected to be open for business Jan. 1.

“We expect that this discovery will ultimately benefit patients in New York as well as Minnesota,”  Vireo Health Chief Medical Officer Dr. Stephen Dahmer said. “We will work with our partners at Minnesota Medical Solutions and are confident that over time we will be able to develop a similar plant with similar characteristics.”

Photo Credit: Jordan Greentree

 

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2015 Emerald Cup Award Ceremony

12/18/2015

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We had a blast at the 2015 Emerald Cup! We recorded the entire award ceremony for your enjoyment: watch it on our YouTube channel or via the media players below. The 2016 Emerald Cup is coming up in December at the Sonoma County Fairgrounds in Santa Rosa, CA. Click here to visit their website!

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Obama Administration Calls for Dismissal of Cannabis Lawsuit Against Colorado

12/17/2015

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The White House is urging the Supreme Court to dismiss a court case brought against Colorado’s legalization of recreational cannabis by neighboring states Oklahoma and Nebraska.

The plaintiff states filed suit in December 2014, claiming that Colorado voters had illegally defied the federal government’s drug laws in passing legalization. Nebraska and Oklahoma argue that their own marijuana laws have become more difficult to enforce since Colorado legalized, and that legally-purchased cannabis from Colorado has started to drain local law enforcement resources. The plaintiffs seek a repealing of Colorado’s legalization laws by the Supreme Court.

Colorado made requests that the Court dismiss the charges. Instead, the Supreme Court called for input from the federal government.

Solicitor General Donald Verrilli Jr. explained the position of the Obama Administration via written statement:

“Entertaining the type of dispute at issue here — essentially that one state’s laws make it more likely that third parties will violate federal and state law in another state — would represent a substantial and unwarranted expansion of this court’s original jurisdiction. … At most, they have alleged that third-party lawbreakers are inflicting those injuries, and that Colorado’s legal regime makes it easier for them to do so.”

Because Colorado is not encouraging — or indeed allowing — any third-party lawbreakers to cross state lines with marijuana purchased intrastate, the feds are arguing that the state cannot be held responsible for the recent spike in drug-related crimes in Oklahoma and Nebraska.

Mason Tvert of the Marijuana Policy Project said in a statement, “If officials in Nebraska and Oklahoma want to have a prohibition-fueled marijuana free-for-all in their states, that’s their prerogative. But most Coloradans would prefer to see marijuana regulated and taxed similarly to alcohol.”

Photo Credit: Tim Sackton

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Companies Tightening Cannabis Use Policies In Face of Legalization

12/17/2015

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As more and more states across the U.S. move toward the full legalization of cannabis — and even as the federal government loosens its grip on the illegality of the drug — a growing number of employers are enacting stricter substance abuse policies.

According to The Denver Post, the Society of Human Resource Management (SHRM) recently performed a first-of-its-kind survey about drug policies in states where cannabis is legal. The survey interviewed 623 HR representatives about their companies’ drug policies.

38% of the HR managers interviewed said their firms categorically reject applicants who claim they have medical reasons for using marijuana, and 6% said their firms exclude only those who use marijuana recreationally.

Everen Esen, the director of the SHRM’s survey division, said, “There is what I consider to be a significant number of employers that are saying they wouldn’t hire an employee that uses marijuana.”

Since workplace regulations fall under the jurisdiction of federal law, companies in states where cannabis is legal are free to maintain anti-marijuana use policies.

Regardless of such regulations, Esen said, “It doesn’t appear to be a really major problem. It doesn’t seem like employees are going out there and rampantly using marijuana in greater numbers than before.” Only 21% of employers surveyed said they had more than three marijuana policy violations this year.

Photo Credit: University of Liverpool Faculty of Health & Life Sciences

 

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A police truck with the DEA insignia.

U.S. Drug Company Approved by DEA to Import Cannabis from Europe

12/17/2015

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A New Jersey-based drug company called Catalent has received approval from the DEA to begin importing marijuana extracts from Europe, intended to support drug makers in developing new cannabis products.

Catalent’s VP of Corporate Strategy, Cornell Stamoran, described the purpose of the new Missouri-based research facility to In-Pharma: “These sites collectively support clinical trial storage and distribution for Investigational Medicinal Products undergoing clinical trials, as well as commercial dose from manufacturing.”

One of the company’s biggest customers is GW Pharmaceuticals, the company behind Epidiolex, a cannabidiol medication used to treat rare forms of epilepsy. Epidiolex has undergone multiple clinical trials this year in the U.S. to test its effectiveness.

With the DEA on board to reschedule these cannabis extracts as pharmaceutical-grade, Catalent is poised to start producing commercial medicines in the US—in a way that medical marijuana dispensaries within the country have not yet been able to secure.

In the UK, GW Pharmaceuticals grows about 200,000 kilograms of marijuana per year in government-approved greenhouses. The cannabinoids are extracted to create products like Epidiolex, Sativex, and to ship to companies like Catalent for further research and development—leading to fears within the marijuana community that a big pharmaceutical takeover of medical cannabis is on the way.

Photo Credit: Brett Neilson

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