As Of Late June, Aurora Had 16,000 Active Registered Patients Less Than 18 Months After Its First Sale.

Marijuana buds and pill bottle on top of money I don’t expect the stock Green Rush to perform like it did in 2016 in the remainder of the year, but there are several reasons to anticipate a strong finish for Aurora in 2017. The company ranks as one of the largest licensed providers of medical marijuana in Canada. This market continues to expand. As of late June, Aurora had 16,000 active registered patients less than 18 months after its first sale. The company added 3,000 of those patients in May and June alone. If this recent momentum continues (which I think will be the case), Aurora’s revenue should increase tremendously in the next few months. Aurora also stands to benefit from its expansion into the German market. Germany legalized medical marijuana earlier this year, but the country is importing the drug until it can establish a regulatory program for cultivation. That has opened a big market to Canadian marijuana growers in particular. Aurora has jumped on this opportunity by acquiring Pedanios GmbH, a leading German wholesale importer, exporter, and distributor of medical cannabis, a few months ago. Then there’s the potential for Canada to legalize recreational marijuana.

To read more visit https://www.fool.com/investing/2017/08/13/3-marijuana-stocks-that-could-make-you-the-most-mo.aspx

Listen To The Interview Or Read “weed Entrepreneur Brings In Over $1 Million A Year Running ‘bud And Breakfast’ Hotels”: Http://www.cnbc.com/2017/01/18/weed-entrepreneur-bud-and-breakfast-hotels-let-you-smoke-marijuana.html Before This Cannabis Stock News Is Here, It’s Published To Subscribers On 420 Investor.

mjmj 1mo Joel Schneider, CEO of The MaryJane Group The company quit filing with the SEC last March and is delinquent in issuing its annual filing for the year ending 4/30/16 as well as the the following two quarters. Schneider stated that his company has delisted, but this is not true, as the company continues to trade on the OTC Pink Sheets. Our call to the Financial Industry Regulatory Authority (FINRA) confirmed that the stock has not been delisted. The publicity of the interview seems to have sparked interest in the stock, which saw a big increase in volume, with 142mm shares trading,  as it moved to the highest level in more than a month: We emailed the company in order to find out why it isn’t filing with the SEC but received no response, and we called the corporate headquarters and each of the three properties only to get stuck in a loop of an automated marijuana call answering system earlier today. While Schneider painted a rosy picture as he called out annual revenues in excess of $1mm, investors should be cautious trading in the stock given the lack of compliance with the regulatory requirements of filing periodic updates. CNBC inadvertently pumped a worthless penny stock apparently. Listen to the interview or read “Weed entrepreneur brings in over $1 million a year running ‘bud and breakfast’ hotels”: http://www.cnbc.com/2017/01/18/weed-entrepreneur-bud-and-breakfast-hotels-let-you-smoke-marijuana.html Before this cannabis stock news is here, it’s published to subscribers on 420 Investor. Based in Houston, Alan leverages his experience as founder of online communities 420 Investor , the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures , he is responsible for content development and strategic alliances.

To read more visit https://www.newcannabisventures.com/cnbc-interview-resuscitates-interest-in-failed-cannabis-penny-stock-the-maryjane-group/

San Francisco plans to wipe out thousands of older marijuana convictions

SAN FRANCISCO — San Francisco’s district attorney said Wednesday that city prosecutors will toss out or reduce thousands of criminal convictions for marijuana dating back decades, a move allowed under the 2016 state ballot measure legalizing recreational sales of pot.

District Attorney George Gascón said his office will dismiss nearly 3,000 misdemeanor cases and review nearly 5,000 felony cases for possible action.

Proposition 64 legalized the recreational use of marijuana. It also allowed people convicted of marijuana charges to petition courts to toss out the cases or reduce penalties.

Gascón says that process can be time-consuming and costly, so prosecutors in the district attorney’s office plan to review and wipe out eligible cases en masse. Some people with convictions may not know they are eligible, Gascón said.

“A misdemeanor or felony conviction can have significant implications for employment, housing, and other benefits,” Gascón said. He said prosecutors will review cases from 1975 through passage of Proposition 64 in November 2016.

He said 23 petitions for dismissal or reduction have been filed in San Francisco since passage of Proposition 64.

As of September, around 5,000 people had applied for a change to their records, according to state data. That’s a fraction of the people that experts estimate are eligible.

Laura Thomas, deputy state director for the pro-marijuana organization Drug Policy Alliance, estimated more than 100,000 people are eligible to have their records changed.

Assemblyman Rob Bonta, a Democrat from Oakland, introduced legislation on Jan. 9 that would require county courts to automatically expunge eligible records.

Recreational marijuana became legal in California last year, and on Jan. 1 it became legal for licensed dispensaries to sell it to non-medical patients.

The U.S. Justice Department announced earlier this year that it’s halting an Obama-era policy to take a hands-off approach toward states that have legalized marijuana. Pot is still illegal under federal law.

The federal move could lead to increased prosecutions of marijuana sellers and growers, although it’s unclear how aggressive federal attorneys will be.

To read more visit: https://www.nbcnews.com/storyline/legal-pot/san-francisco-plans-wipe-out-thousands-older-marijuana-convictions-n843601

Wow! Here’s How Much Marijuana Canadians Bought in 2017

That’s a lot of zeroes.

Feb 3, 2018 at 11:41AM
There’s a really good reason the marijuana industry is called the “green rush” — growth has been veritably unstoppable. According to ArcView, a leading cannabis research company, legal cannabis sales are expected to grow by 26% a year through 2021. Should this forecast come to fruition, the North American market could be generating almost $22 billion in annual sales.Consumer opinions on pot have also been improving at a steady pace. Back in 1995, the year before California became the first state to legalize medicinal cannabis, just a quarter of the respondents in Gallup’s annual survey favored legalizing weed. By October 2017, this favorability reached an all-time high of 64%.

A tale of two North American markets

Nevertheless, there’s a big difference among the U.S. and Canadian cannabis markets in North America. The U.S. has grown into a market that genuinely doesn’t support the expansion of marijuana. It remains a Schedule I substance at the federal level, meaning it’s wholly illegal, is prone to abuse, and has no recognized medical benefits. What’s more, Attorney General Jeff Sessions recently rescinded the Cole memo, which was a loose set of rules that legalized states abided by to keep the federal government off their backs. This included keeping cannabis away from adolescents, as well as keeping legal weed within a state.

By comparison, Canada has become the blueprint of success for the marijuana industry. Medicinal cannabis has been legal since 2001, and Health Canada continues to oversee the issuance of licenses for the medical industry. In fact, a handful of Canadian growers have been generating profits solely on account on medical marijuana sales thanks to growing patient demand, and strong patient enrollment.

Furthermore, Canada appears to be on the verge of legalizing recreational pot this coming summer. Conservatives, and those who oppose the expansion of legal weed, are in the minority in Canada’s parliament, and the federal government recently proposed a tax-sharing agreement from pot sales that the provinces agreed to. The green-lighting of adult-use sales could generate an additional $5 billion in annual sales once the industry is fully ramped up.

Canadians bought a lot of weed last year

But truth be told, we don’t have to wait till this summer to see just how much Canadians love their cannabis. According to recently released data from Statistics Canada, an estimated 4.9 million Canadians between the ages of 15 and 64 purchased $4.6 billion (CA$5.7 billion) worth of marijuana in 2017. This works out to about $974 per cannabis consumer. Keep in mind that this includes medical marijuana, as well as recreational cannabis, which has been given the green light in some provinces.

How does this compare to other so-called vice industries, you wonder? Data shows that the alcohol and tobacco industries in Canada generated a respective $18.1 billion and $13 billion in sales in 2016. Though cannabis still has a long way to go to catch these traditional vice industries in sales, the Canadian pot industry does have a major leg up when it comes to domestic production. The vast majority of alcohol and tobacco sold in Canada is imported. Meanwhile, practically all of the cannabis sold to Canadians is grown within the country. In fact, sales of Canadian cannabis outside the country as a percentage of total production has increased from 2% in 1961 to 20% as of 2017. Canadian growers are finding consumers, whether they be domestic or abroad.

Here’s another interesting tidbit: according to Statistics Canada, more than 90% of the $4.6 billion sales figure were for non-medical purposes! This demonstrates just how much of a monster the recreational industry could be if the federal government continues to move along measures to legalize adult-use pot.

However, it’s also worth pointing out, per the data dump by Statistics Canada, that non-medical weed prices have been in a multi-year decline. It estimates that the price per gram for non-medical purposes has fallen by an average of 1.7% annually since 1990 to around $6.09 (CA$7.50) per gram in 2017. Comparatively, the Canadian Consumer Price Index has increased by an average of 1.9% annually over that same timeframe. This would suggest that volume may be needed by growers to make up for declining prices in the future, should this trend persist.

Consolidation should work in Canadian growers’ favor

Nonetheless, these trends generally point to positives for Canadian pot stocks. It shows that consumers are demanding cannabis, and that growers have multiple channels to reach these consumers, which includes domestic sales, expanded product lines, and exports to countries that have legalized medical weed.

Unlike the pot industry in the United States, the Canadian weed industry is also highly consolidated, which is a big reason it’s so successful. Though marijuana proponents in the U.S. favor the ability of small businesses to get in on the green rush, the consolidation of the Canadian industry is responsible for keeping growing costs down, and it’ll likely stem the aforementioned decline in cannabis prices over the past 27 years.

Four growers may wind up controlling around half of Canada’s market share when all is said and done, even with Health Canada easing restrictions and shortening the process to allow more licensees to grow cannabis. For example, Canopy Growth Corp. (NASDAQOTH:TWMJF), the largest marijuana stock by market cap, is currently developing or constructing 2.4 million square feet of growing capacity in British Columbia, and has the option of leasing an additional 1.7 million square feet in B.C. It’s possible that Canopy could control 15% of the total legal weed market when fully ramped up. It has the deep pockets and production capabilities to temporarily drive margins down, if need be, in order to push smaller businesses out of the picture.

As has been the case for some time now, investors looking to get in on the green rush should overlook what had previously been touted as the world’s top marijuana market, the United States, and instead focus on Canada, the current blueprint of success for the pot industry.

Marijuana stocks are overhyped: 10 better buys for you now
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and marijuana stocks were noticeably absent! That’s right — they think these 10 stocks are better buys.

To read more visit: https://www.fool.com/investing/2018/02/03/wow-heres-how-much-marijuana-canadians-bought-in-2.aspx

Will New Jersey Marijuana Legalization Include Home Grow?

The Garden State seems to be gearing up to legalize weed. But will New Jersey marijuana legalization include home grow?

Will New Jersey marijuana legalization include home grow? As of now, the new governor of the state seems to only be insistent that adults be able to consume cannabis—not grow it.

“Marijuana legalization” doesn’t guarantee fully legal marijuana. Other states allow adults to grow small amounts of cannabis at home. Will New Jersey marijuana legalization allow home grow?

It’s far from certain.

What Legalization Should Do

New Jersey will almost certainly become the second state to legalize recreational marijuana without a ballot initiative.

But right now, Gov. Phil Murphy’s promise to allow adults 21 and over to use cannabis does not guarantee “home grow.”

This is a problem that needs fixing. Enter Reed Gusciora.

The state Assembly’s deputy leader, Gusciora wants to permit adults 21 and over to grow up to six cannabis plants at home.

“Looking at the marijuana laws in place in California, Oregon, Washington and the like, I thought that homegrown should be an essential element of the New Jersey law, too,” Gusciora told the Philadelphia Inquirer.

Should. Absolutely. But will home-grow be written into marijuana law in New Jersey?

The “Problem” With Home Grow

The New Jersey state Assembly and Senate are considering several legalization efforts. Gusciora, who co-authored the state’s medical-marijuana legislation, introduced his home-grow amendment to a proposal in the lower house.

Yet it’s still unclear which effort will reach Murphy’s desk. Gusciora’s bill would allow New Jersey residents to grow up to six plants. But only indoors, and only in a “controlled environment.”

Why so serious? Anyone who’s followed marijuana legalization for any length of time is familiar with the arguments legalization opponents trot out. A favorite hobbyhorse is a canard that cannabis automatically equals crime.

The notion that a few marijuana plants in someone’s backyard will cause gangsters and crooks to behave as if a supply of unguarded gold bouillon appeared in the neighborhood is false.

What’s news is Gusciora, a prosecutor, is willing to admit it. The problem is his colleagues behave as if it were true.

“They have visions of kids jumping over fences to steal Mrs. Smith’s marijuana plants,” he told the paper.

What About Hemp?

Gusciora is also pushing a bill that would legalize hemp farming.

An earlier effort to allow New Jersey residents to cultivate the non-psychoactive plant, good for fiber and fuel, died in 2012. For that, you can thank Chris Christie.

The state’s famously reactionary former governor also vowed to block a hemp bill.

For this reason, the bill died along with other efforts to expand the state’s extremely limited medical marijuana law.

By most measures, New Jersey’s medical marijuana law is terrible. Restrictions are so tough that through the end of 2016, fewer than 12,500 patients were enrolled.

Patients must also be “re-assessed” to see if they’re still sick enough to use cannabis every 90 days. And plenty of sick people who could benefit from marijuana aren’t sick enough: Jersey is only one of three states where chronic or “intractable pain” is not a qualifying condition.

In the context of an opiate crisis that kills 60,000 people a year, rules like these are criminal.

Home grow could help. So will New Jersey marijuana legalization allow home grow? Maybe not. In order for marijuana legalization to live, home grow may have to die.

Final Hit: Will New Jersey Marijuana Legalization Include Home Grow?

Christie is gone, but neither hemp farming nor home grow is a sure thing. Neither is legalization itself.

A recent poll found only 42 percent support among voters for legalization. And in preparation for legal cannabis, several townships have prepared by laying plans to ban it—even before the issue goes to a vote.

If legalization looks like it’s stalling out, home grow may be one of the first “rights” to go by the board. Stupid? Yes. But that’s how marijuana is legalized.

To read more visit: https://hightimes.com/news/new-jersey-marijuana-legalization-include-home-grow/

Governor of Vermont Expects To Sign Weed Legalization Bill By Monday

Vermont’s Governor Phil Scott is getting ready to sign a bill to legalize recreational greenery in his state.

Last week, lawmakers in the state of Vermont passed a bill to legalize recreational marijuana. They did this entirely through state legislature, making history by becoming the first state to pass such a bill without a vote from the state’s residents. And now, a week later, the governor of Vermont expects to sign weed legalization bill by Monday.

The State of Weed in the State of Vermont

Believe it or not, it has only been but a mere two weeks since President Trump’s right-hand man Attorney General Jeff Sessions made “good” on his threats to crack down on states with legal cannabis. Those two weeks ago, Sessions rescinded a little Obama-era piece of legislation called the Cole Memo. Basically, the Cole Memo was put in place to prevent the federal government from interfering in state’s rights. Specifically, those regarding the decriminalization or full-out legalization of cannabis.

Since then, states and lawmakers have been rallying to fight this rescission. As it turns out, members of both major political parties were sufficiently angry with Sessions over this decision. In Vermont, state lawmakers took almost immediate direct action. Last week, the Green Mountain State’s Senate passed a bill to legalize recreational cannabis. Timing aside, this social and political maneuver was particularly gutsy because it required each member of the legislation to take a definitive stance on the matter. Votes like this are public record, so the lawmakers involved were well aware of the political risks involved.

Another reason this vote was so risky is that the governor of Vermont, Phil Scott, vetoed a legalization bill this past May. He cited the need for more research and clearer wording on the bill as the reason behind his veto. He also made it known that he would be willing to revisit the matter.

And now he has the chance to do just that.

Final Hit: Governor of Vermont Expects To Sign Weed Legalization Bill By Monday

According to sources, the governor of Vermont expects to sign weed legalization bill by Monday. Or perhaps even before Monday. He has, reportedly, enlisted the help of a lawyer to go over the bill and make sure the language and specifications of the new potential law are of a high enough standard that he can sign it with a clear conscious. The specifications of the bill include maximum possession allowance of both flower and plants. If Governor Scott signs the bill into law, Vermont citizens will be permitted to possess up to one ounce of marijuana and six plants. Of those plants, two may be mature, and the grower may possess an additional four immature plants. No word yet on retailing recreational cannabis in the state of Vermont. But if the bill is signed, amendments regarding that are sure to come.

Another point to sweeten the pot? If the governor feels satisfied and signs, the new law will go into effect the first day of July. So, if all goes according to the state Senate’s plan, Vermont’s residents could have legal, recreational weed by summertime.

To read more visit: https://hightimes.com/news/governor-vermont-expects-sign-weed-legalization-bill-monday/

Former Mexican President Vicente Fox On Why Prohibition Is A Failure

High Times recently had the fortune, privilege and honor of interviewing Mexico’s former President Vicente Fox, a man whose ideas stand close to libertarianism. The state, the government, should not intervene in people’s lives unless their decisions affect third parties, he’s argued quite often.

Discussing cannabis legalization and the business opportunities that follow, Mr. Fox mentioned he actually supported the legalization of all drugs, not just cannabis. We were hooked: not often do we get to hear the former president of one of the world’s top 15 economies, of a G-20 country, defend the legalization of mushrooms, cocaine and LSD.

His argument is based on two basic premises:

  1. Keeping drugs illegal has generated nothing but violence. “We’ve seen so much violence, hundreds of thousands of young people die in the hands of drug-related violence over the last decade… It makes no sense,” Mr. Fox pointed out during our chat. “Drug lords have taken control of the markets, trafficking and the transit of drugs to the United States, and this has complicated things everywhere.”
  2. The illegality of drugs goes against the concept of individual liberty. “I am an intense believer in freedom. I think all prohibitions should disappear off the face of the earth – except for those limiting anything that affects a third party,” he explained.

“Prohibition doesn’t work and has never worked,” Mr. Fox argued, bringing up the example of Adam and Eve who, he thinks, might have never taken a bite off the Forbidden Apple if God had explained why it was bad for them instead of straight out banning them from eating it.

“We need to transform prohibition into regulation,” he said. Consumers need to have the freedom to decide what they want. But, before this can happen, we need education, access to information and time for people to digest this new information, to get comfortable with this new paradigm where the people take care of themselves and one another, instead of relying on the state to do that, he argued.

“We need to stop thinking that the government will protect our children and families from drugs. That has never happened. Only educating at home we’ll be able to create consciousness around the fact that what’s important is moderation, rather than prohibition,” he supplemented.

Legalize It All

Drug legalization will create a legitimate business community and put it in hands of honest entrepreneurs instead of criminals like we see today, Mr. Fox voiced. “In fact, legalization will help us create opportunities for many people who have been turned into criminals by this unjust system; people are not born criminals, they are pushed toward crime by the lack of opportunity.”

“But, as we re-legalize drugs, we will create a lot of new jobs that can help us keep young people away from crime,” he went on. “Legalization will create jobs for engineers, retailers, farmers, processing professionals, manufacturers… All of the formerly marginalized people will find opportunity and well-paying jobs.”

Mexico And The Opioid Crisis

The high demand for opioids in the U.S. has created in a war between cartels in Mexico. Many drug lords want to be the ones supplying poppy to opioids producers, Mr. Fox explained. “And this is intrinsically related to the fact that poppy is grown illegally,” he noted.

“So, instead of having people kill each other, why not produce poppy legally in Mexico and export it, legally, to the U.S.?” he suggested.

“Of course opioids are bad when they are used incorrectly. But opioids are also very useful and necessary to treat certain ailments.” So, we need to differentiate these two types of uses and have our laws reflect this difference, he concluded, calling for a comprehensive drug legalization plan for the U.S., Mexico, and ultimately the whole world.

 

To read more visit: https://hightimes.com/news/former-mexican-president-vicente-fox-prohibition-failure/

LEAFLY LIST: TOP DISPENSARIES IN NORTH AMERICA, WINTER 2017–2018

Every quarter we update the Leafly List in an effort to answer a question we hear all the time: “Can you recommend a great dispensary near me?” The list is a snapshot of the most talked-about medical cannabis dispensaries and retail locations in 10 major cannabis markets across North America. The top locations are determined using an indexing system that ranks locations across a variety of customer engagement metrics like reviews of each location’s quality, service, and atmosphere.

Click on your state or province below to find the most relevant Leafly List for you. Remember, if you don’t see your favorite dispensary on the list, make sure you follow, rate, and review your favorite cannabis locations to let the world know where you find your favorite cannabis.

More on the Leafly List

The Leafly List index score is a proprietary statistic created by Leafly to measure the performance of medical cannabis dispensaries and retail cannabis locations across Leafly’s digital platform. It is designed to be a comparative metric that offers context as to which locations are generating the most positive buzz and pushing the cannabis industry forward through exceptional service and digital engagement. Check out the Leafly List FAQ for more information on how dispensaries are ranked.

The Leafly List is based on 100% objective customer feedback and data collected by Leafly. Businesses CANNOT pay for a spot on the list.

The Leafly List is by no means a comprehensive list of your options when it comes to cannabis access points. You can use Leafly’s Find Nearby tool to see the complete list of dispensaries or recreational stores in your area. The Leafly List is designed to let you know which locations are being reviewed, followed, and have their Leafly menus visited the most, and it also provides other web-based engagement factors. Simply put, these are the places that the Leafly community is talking about, so if you don’t see your favorite location listed, make sure you follow, rate, and review your local dispensary to let others know it’s the best.

Lead image by Mordolff/iStock

To read more visit: https://www.leafly.com/news/leafly-list/leafly-list-the-best-cannabis-locations-in-north-america-winter-2017

Mike Tyson launches luxury marijuana resort in California, as state’s Green Rush finds celebrity backers

Controversial boxing champ Mike Tyson has broken ground on a 40-acre marijuana growing operation and luxury resort close to Edwards Air Force Base, celebrity blog The Blast reports.

The Tyson Ranch will have half of its acreage devoted to cultivating marijuana and the other half developed into a high-end retreat with “glamping” cabins, an edible factory and an amphitheater. Tyson, who is backing the project with business partners including California City Mayor Jennifer Wood and two entrepreneurs, Robert Hickman and Jay Strommen, also reportedly plans to create a Tyson Cultivation School at the site.

“Tthe company that operates the ranch, Tyson Holistic, is comprised mainly of veterans, and says taking care of men and women who have served in the armed forces is a top priority,” The Blast reports. “The ranch is located near Edwards Air Force Base and aims at creating lots of jobs, as well as connect with and give back to the community. The mayor describes the business venture as a ‘rebirth’ for the entire city.”

You can read more about the property, and see schematics of what it will look like, here.

In California, high hopes for ‘green rush’ with advent of legal pot

LOS ANGELES: At the stroke of midnight on January 1, pot lovers in California may raise a joint, instead of a glass of champagne.

America’s wealthiest state is legalizing the growth, sale and consumption of recreational marijuana, opening the door to the world’s biggest market.

With authorities looking to cash in via heavy taxes, the stakes are high—and the Golden State’s so-called “green rush” will be watched closely.

Arcview, a firm that studies the global cannabis market, estimates that it will be worth $22.6 billion in 2021, up from $6.7 billion in 2016.

Cannabis is displayed at the Higher Path medical marijuana dispensary in the San Fernando Valley area of Los Angeles, California, December 27, 2017. AFP PHOTO

In California alone, the industry will be worth $5.8 billion in 2021, with almost three quarters of that from recreational use.

But 2018’s transition will not be automatic—or simple.

Although eight other states and the capital Washington have already legalized recreational marijuana use, none compare to the sheer size of California.

“The first year, two years are going to be a mess,” as cities determine their own regulations and supply and demand is established, predicts Arcview CEO Troy Dayton.

California already pioneered the legalization of medicinal cannabis in 1996, and approved the current law in 2016.

But the substance is still considered illegal under federal law, and the administration of President Donald Trump has been hostile on the issue.

Thriving black market?

According to the new law in California, anyone older than 21 can get up to 28.5 grams (one ounce) of cannabis without a prescription and grow up to six plants per residence.

It cannot be consumed in public places or while driving—nor can it be used within 1,000 feet (about 300 meters) of a school or other place for children.

The production, distribution and sale of marijuana also requires municipal and state permits.

Cities such as San Francisco, San Diego and San Jose have wasted no time, already issuing licenses to several dispensaries that can start selling recreational marijuana on Monday.

But in Los Angeles, there is a wait.

Seller Jerred Kiloh, who runs a thriving medical dispensary, will not be able to join the New Year’s party as authorities will only begin to accept applications on January 3.

Cat Packer, chief of Los Angeles’ cannabis regulation department, said the process “is not going to happen overnight.”

On one December afternoon, Kiloh’s dispensary is full.

Leaving the shop, a man says “I love your store”—which has a distinctive smell and products ranging from cannabis flowers to creams, cakes and candies.

Kiloh, who has been in the industry for a decade, says his biggest concern is that while he is closed awaiting a license, hundreds of other shops will be operating without one— offering attractive prices and drawing customers away.

Dispensaries can be seen on every corner, but it is hard to know which ones are legal.

Kiloh—who is also an economist and president of plant-based therapeutics corporation United Cannabis—claims “about 80 percent of the industry that operates in Los Angeles right now operates without a permit and without paying taxes.”

He also estimates only 135 shops operate above board.

According to Arcview, the illegal market generated $5.1 billion in 2016.

‘Crazy fluctuation’

Authorities in Los Angeles have said they are working on a plan to combat illicit drug trading.

For example, the police have the power to cut off electricity and water at illegal vendors.

Other more conservative cities will simply prohibit sales.

Meanwhile, some projections estimate that costs could hike up to 70 percent—due to state tax set at 15 percent, 10 percent sales tax, and municipal taxes of up to 10 percent on top of that—as well as license requirements and required technology such as trackers for each plant.

“You could see some crazy fluctuation in price over the first year or two,” said Dayton.

Marijuana for medical use should become cheaper and available for purchase in more quantities.

Kiloh estimates that to meet current demand, “you’d probably have to have 10,000 licenses available right now” in California.

In neighboring Nevada in July, when recreational marijuana went on sale, emergency measures had to be implemented to allow distributors to meet the astronomical demand. AFP

AFP/CC

To read more visit: http://www.manilatimes.net/california-high-hopes-green-rush-advent-legal-pot/371306/