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Historical Short Volume Data for PVSP
Date Close High Low Volume Short Volume % of Vol Shorted
May 19 NA NA NA 54,979,047 12,531,586 22.79
May 18 NA NA NA 28,501,760 17,782,060 62.39
May 17 NA NA NA 1,511,490 913,500 60.44
May 16 NA NA NA 2,536,463 2,244,880 88.50
May 15 NA NA NA 11,964,100 10,964,000 91.64
May 12 NA NA NA 7,438,997 4,285,000 57.60
May 11 NA NA NA 8,940,911 5,738,871 64.19
May 10 NA NA NA 68,719,935 14,044,060 20.44
May 09 NA NA NA 23,499,900 23,424,900 99.68
May 08 NA NA NA 56,857,359 18,616,329 32.74
May 05 NA NA NA 8,343,560 6,046,430 72.47
May 04 NA NA NA 44,647,500 4,090,000 9.16
May 03 NA NA NA 5,331,669 5,170,570 96.98
May 02 NA NA NA 26,897,287 25,674,951 95.46
May 01 NA NA NA 48,252,592 8,286,592 17.17
Apr 28 NA NA NA 45,491,685 38,891,045 85.49
Apr 27 NA NA NA 56,217,222 12,928,500 23.00
Apr 26 NA NA NA 45,745,438 8,510,999 18.61
Apr 25 NA NA NA 40,175,500 6,903,590 17.18
Apr 24 NA NA NA 12,733,550 8,547,500 67.13
Governor Tim Walz
@GovTimWalz
When the bill reaches my desk, Minnesota will become the 23rd state in the nation to legalize adult-use cannabis.
Oldrogue.
PVSP and IDGlobal management claim Massive Shorting
Very interesting that both Riss companies are accusing Massive Shorting of their stock as the issue on price declines. Not a word about conversions.
They may just be right, IMO this is much more than just some conversions.
IDGlobal Corp
@IDGlobalCorpInc
·
May 19
Replying to
@GoingGreenPicks
The massive shorting of 87 million shares and today it stopped. Maybe the short and distort scheme fund that has attempted to bring our company to our knees finally realized the progress that company management is speaking of puts shorts at huge a risk.
Pervasip Corp
@PervasipC
(5) $PVSP letting the shorts go after yours and our business is simply [...fill in your favorite expression ...]. Time to buy PVSP! At current $ we're easily 5 times below the most conservative value! Do the math! Check the market! Dive into Financials! Shorts are loving it!
Legal Cannabis Sales Expected to Reach $37 Billion in 2023
WOW!!! "US market is expected to make up 81% of Global Cannabis Sales"
The cannabis sector, following a mixed regulatory response, continues to report growing adoption and sales, though delays to meaningful legislation in the US and inflationary concerns have put increased scrutiny on cannabis firms’ path to profitability.
Worldwide legal-cannabis sales are expected to rise 15%, to $37 billion, in 2023, driven primarily by an anticipated 14% gain in the US as a result of increased adoption in legalized states or newly legal states.1 The US market is expected to make up 81% of global cannabis sales, even without federal legalization.2 The Canadian market is projected to see a 12% rise in 2023 sales, to $4.7 billion, accounting for 12% of global sales.3 North America’s dominance should decline in the longer term, we believe, with the next wave of growth emanating from Europe.
Key Takeaways
A large illicit market and varied regulatory landscape have been headaches for the legal cannabis industry, but adoption continues to increase, and worldwide legal-cannabis sales could rise 15%, to $37 billion, in 2023.4
Current operating conditions have cannabis companies focused on increasing efficiencies and positioning for potential legislative victories in the US.
Internationally, supply chain dynamics continue to improve in Canada, and proposed legislation for the legal use of recreational cannabis in Germany could set the stage for broader adoption in Europe.
Legal Weed Sales Projected To Grow 14% in 2023
Legal sales of cannabis in the United States are expected to grow by 14% this year, according to a leading industry market data analysis firm.
BY
A.J. HERRINGTON
MARCH 15, 2023
Sales of legal cannabis in the United States are projected to grow by 14% in 2023, according to a recent report from Colorado-based cannabis industry market analysis firm BDSA. In an updated five-year global legal cannabis market forecast, the company reports that global spending on legal cannabis increased by 4.8% to $32 billion in 2022. BDSA projects that the global cannabis market will see a compound annual growth rate (CAGR) of 13.2% from 2022 to 2027, resulting in a total worldwide regulated cannabis market size of $59.6 billion by 2027.
The U.S. legal cannabis market has shown significant growth across the industry as more and more states legalize adult-use cannabis and medical marijuana. And while the industry’s growth slowed in 2022 in response to market conditions including rising inflation and economic uncertainty, BDSA expects the U.S. legal weed market to again show significant growth this year, projecting a 14% increase in the market in 2023.
“Legal cannabis spending slowed significantly in 2022 due to rapid price declines across all markets,” Roy Bingham, co-founder and CEO of BDSA, said in a statement from the company. “Despite this, our updated forecast predicts strong growth in the U.S. driven by developing markets, particularly the adult-use markets of Missouri, New Jersey and New York.”
Currently, 21 states have legalized cannabis for adults, while 37 states, the District of Columbia and three U.S. territories have passed laws to legalize the medicinal use of marijuana. Additionally, 11 states permit the use of low-THC cannabis formulations for medicinal purposes. Only Idaho and Nebraska continue to prohibit all forms of cannabis.
Some Mature Cannabis Markets Contracted In 2022
The U.S. cannabis market posted rapid growth during the height of the COVID-19 pandemic as lockdowns kept consumers home and dispensaries were designated as essential businesses in many states. But last year marked the first decline in overall cannabis spending in some mature cannabis markets in the United States. In the West, early cannabis policy reform adopters California, Colorado, Nevada and Oregon saw a combined drop in spending on legal adult-use cannabis of 16.5% in 2022, according to the updated report. BDSA expects most mature cannabis markets in the U.S. to return to positive growth in 2024, although more slowly through 2027 than in the years leading up to the pandemic.
Newer legal cannabis markets showed strong growth in 2022, despite the decline seen in more mature markets. BDSA also projects new legal adult-use cannabis markets to launch by 2027, predicting a start of legal sales in Maryland in 2024 and in Florida and Ohio in 2025. The launch of new recreational marijuana cannabis markets is also possible in Minnesota and Hawaii by 2027, BDSA notes, but the company does not expect to see federal cannabis legalization during the five-year forecast period.
Brian Vicente, founding partner of the cannabis law firm Vicente LLP, agreed that emerging markets will help fuel the growth of the legal cannabis industry in the upcoming years.
“The future remains bright for the cannabis industry in the United States. Despite a recent setback at the polls, with Oklahoma voters shooting down legalization this month, we are still seeing other domestic markets expand and commence sales,” Vicente wrote in an email. “This includes significant revenue growth in newly-legal cannabis markets like Missouri and New Jersey, and also emerging medical markets like Mississippi. With additional states like Florida and Ohio looking likely to legalize in the next several years, we can expect continued expansion in cannabis sales.”
By 2027, U.S. sales of adult-use cannabis are forecasted to contribute 78% of the total spending on legal cannabis worldwide, up from 64% in 2022. U.S. legal cannabis spending is expected to grow at a CAGR of 11.3%, from $26.1 billion in 2022 to $44.5 billion in 2027, with the industry’s growth driven primarily by the New York, Florida, New Jersey and California recreational marijuana markets.
Globally, cannabis markets outside the U.S. and Canada are forecast to grow at a CAGR of 40% to $9.5 billion in 2027, up from $1.8 billion in 2022. BDSA forecasts the Canadian market will see overall growth of 12% this year, increasing to a $5.7 billion market by 2027 at a CAGR of 6.3%. New adult-use markets in Germany and Mexico are expected to be the primary drivers of global growth, while existing limited medical cannabis programs are expected to expand, particularly in the European Union and Latin America.
Cannabis industry will add $100 billion to US economy in 2023,
MJBiz Factbook projects
author profile pictureBy Andrew Long, Data Reporter
April 12, 2023 - Updated May 10, 2023
The total U.S. economic impact generated by cannabis sales is expected to top $100 billion in 2023, up more than 12% from last year, according to a fresh analysis from the newly published MJBiz Factbook.
Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri and Kentucky.
To measure the industry’s economic impact, MJBizDaily analyzed similar industries, consulted with economists and applied a standard multiplier of 2 on projected recreational and medical marijuana retail sales.
The projections are a best estimate given the unique nature of the rapidly expanding marijuana industry, which is governed by a patchwork of state laws but remains illegal under federal law.
Marijuana businesses encompass a range of agricultural, manufacturing and retail operators as well as non-plant-touch ancillary companies such as lighting suppliers and law and accounting firms.
Some markets also include cannabis events and hospitality businesses, which tend to have an even higher economic impact than other industries.
The economic impact of the marijuana industry is not the same as supply-chain revenue that is often used to estimate the “total size” of an industry.
The total amount of U.S. adult-use and medical cannabis sales, for example. is expected to reach $34 billion in 2023, up from a revised $30 billion in 2022, according to the new MJBiz Factbook.
By contrast, the economic multiplier paints a picture of the cannabis industry's impact on the broader economy.
In this case, for every $10 consumers and patients spend at marijuana retailers or dispensaries, an additional $20 will be injected into the economy, much of it at the local level.
The marijuana industry has a large impact on the broader economy, both locally and across the nation.
That impact comes directly from the day-to-day needs of workers in the cannabis industry, including spending on life’s necessities such as housing, transportation, entertainment and more.
Taxes collected from cannabis businesses and consumers play a role, too.
Marijuana businesses, consumers and patients pay hundreds of millions of dollars in state and local taxes that are used to fund government activities at those levels, including schools and roads.
Real estate also receives a boost from new retail, manufacturing and agricultural businesses moving into an area, or established companies expanding, increasing broader demand for commercial properties.
In many markets, cannabis companies are restricted in where they can operate, but they often bring new business activity to areas that previously were blighted or couldn’t attract such enterprises.
So what . . . just means more shares to convert/unrestrict/dump.
Bipartisan Pennsylvania Senators Team Up On New Marijuana Legalization Bill
Published 6 hours ago on May 21, 2023By Kyle Jaeger
A bipartisan pair of Pennsylvania senators announced on Friday that they will soon file a bill to legalize marijuana in the Commonwealth.
Senators, Dan Laughlin (R) and Sharif Street (D), who’ve partnered on cannabis reform in previous sessions, shared some details about the forthcoming proposal, which would create a commercial marijuana market for adults 21 and older, in a co-sponsorship memo seeking support from colleagues as they prepare to introduce it.
“Legalized adult use of marijuana is supported by an overwhelming majority of Pennsylvanians and this legislation accomplishes that while also ensuring safety and social equity,” Laughlin said in a press release.
“With neighboring states New Jersey and New York implementing adult use, we have a duty to Pennsylvania taxpayers to legalize adult use marijuana to avoid losing out on hundreds of millions of dollars of new tax revenue and thousands of new jobs,” he said.
While the bill hasn’t been officially filed and the text is not yet available, the senators said that it would “improve upon our proposal from last session.” They described the effort as a “bipartisan approach to legalize adult use marijuana in Pennsylvania.”
Daw Fidler, Laughlin’s legislative director, told Marijuana Moment in an email that the bill is “currently a work in progress” and that the offices “have some changes and updates that we are still working through based off” of the legalization measure they filed last session.
“We are intending to have a bill introduced in June—probably closer to the end of June,” she said. “Once it is introduced and referred to committee, we will work with the committee and stakeholders on any further items that would need to be addressed before a committee vote when they return to session in the fall.”
The senators’ press release says the forthcoming legislation would prioritize public safety, giving law enforcement the ability to “adjudicate” impaired driving and empower them to “eradicate” the illicit market.
Further, the legislation would allow medical cannabis patients to grow their own plants, prohibit marketing that targets youth and “set workplace requirements regarding marijuana use for all those operating in good faith.”
There will also be social equity provisions facilitating expungements for prior marijuana convictions and prioritizing licensing for people most harmed by the drug war, the senators said. They added that the framework will provide “room for new and existing licensees to ensure demand in Pennsylvania is met” and will contain measures aimed at “empowering farmers and craft growers across the state to engage in the cultivation of marijuana in a manner that is safe and regulated.”
Street said that the state has “a unique and singular opportunity to correct decades of mass incarceration, disproportionate enforcement against marginalized communities, the criminalization of personal choice and the perpetuation of violence, which all materialized from the failed war on drugs.”
“Legalizing the adult use of cannabis will help us fully and equitably fund education, lower property taxes, and address a variety of community needs throughout Pennsylvania,” he said.
In the co-sponsorship memo, the senators emphasized that polling shows adult-use legalization “is supported by two-thirds of Pennsylvanians and has majority support in rural, suburban, and urban legislative districts.”
“New Jersey and New York have implemented adult use,” and so it’s “our duty to taxpayers to seize the initiative and legalize marijuana concurrently with bordering states,” they said.
“Failure to do so risks permanently ceding hundreds of millions of dollars of new tax revenue as well as thousands of jobs at a time when taxpayers can least afford it,” the senators wrote to colleagues. “In February 2021 Appropriations hearings, the Pennsylvania Independent Fiscal Office projected the legalization of marijuana for adult use will generate $400 million to $1 billion in new tax revenue for the Commonwealth.”
Meanwhile, Pennsylvania House lawmakers also recently filed separate bills to legalize marijuana sales through state-run stores and to provide permits for farmers and small agriculture businesses to cultivate cannabis once adult-use sales are allowed.
Gov. Josh Shapiro (D) supports enacting cannabis reform and proposed to legalize and tax adult-use marijuana as part of his 2023-2024 budget request in March.
The prospects of enacting legalization increased in the Keystone State after Democrats took control of the House following last year’s election. Republicans have maintained control of the Senate, however, but there are certain GOP members like Laughlin and Mike Regan (R) who’ve backed reform.
We should start eating into the .0003s next week.
We never did find out the terms for this slurped and consulting company acquisition. There probably already unloading shares on a daily basis as well. Can anyone prove that is NOT happening? JMO
Additionally, using a report almost 3 mos old as well!!!
Zen
Who said anything about ‘new shares’??!?!!!!!!
Zen
Oopsie, more conversions ... Mayorkas !
Start Buying PVSP, use the offshore accounts! LOL
and keep it quite!
Gordon
BUSINESS Groups Push Senators To Add Marijuana Business Stock Exchange Access To Banking Bill
Published 20 hours ago on May 18, 2023By Kyle Jaeger
A coalition of marijuana advocacy groups is asking that a bipartisan marijuana banking bill be expanded to include provisions ensuring that cannabis businesses have access to all forms of financial services—including the ability to be listed on senior U.S. stock exchanges.
In a letter sent to Senate Banking Committee leadership on Thursday, the coalition SAFE Banking for Equity said that it appreciates that the panel is “treating this issue with the urgency it demands” by holding a hearing focused on cannabis industry financial barriers last week.
But the groups—which include California Minority Alliance, Minorities for Medical Marijuana, Women Grow and National Hispanic Cannabis Council—also said that it was important that the standalone Secure and Fair Enforcement (SAFE) Banking Act be amended in a fairly significant way that may be a bridge too far for certain advocates focused on comprehensive legalization.
As it stands, the SAFE Banking Act would protect banks that work with state-licensed marijuana businesses and certain depository institutions from being penalized by federal regulators.
What the coalition is asking for is a broader safety net that would free up industry access to “all regulated financial institutions and services, including depository services, lenders, debt and equity financing, capital markets and investment services, insurance, broker dealers, fiduciaries, and credit card and payment processing.”
“Providing the state-legal cannabis industry equal access to financial institutions and resources is key for economic growth,” the letter says. “Without broader access to financial institutions, many entrepreneurs are left without anywhere to turn to secure the funding needed to launch their company or to expand existing operations.”
The groups wrote that limiting cannabis industry financial services access forces operators “to fight for survival against the illicit market—including Chinese-backed investors—with both hands tied behind their backs.”
“If small and minority-owned cannabis companies do not have the capital needed to compete or stay afloat, the state regulated cannabis market will be ceded to criminal enterprises that do not adhere to stringent testing or labeling standards, that do not institute child resistant packaging or care about age limitations, and that do not pay taxes or invest back in their communities. Ultimately, an unchecked illicit market would be catastrophic to legal, regulated businesses, and compromise public health and safety.”
They further asserted that access to U.S. senior exchanges, as opposed to junior exchanges, would “significantly” increase the valuations of small marijuana businesses, “resulting in a dramatic decrease in the amount of equity an entrepreneur would have to cede to get the same investment.”
“Maintaining equity is critical for those operators who hold social equity licenses that require them to maintain majority ownership of their company,” the letter says. “Without access to meaningful capital to convert these social equity licenses or for minority operators to succeed, the states’ efforts to support a more equitable industry are merely checking a box and allowing for small businesses to be shut out while the illicit market profits in the void.”
There was a bill that was filed by Reps. Troy Carter (D-LA) and Guy Reschenthaler (R-PA) last Congress that would have allowed cannabis businesses to be listed on national stock exchanges and access other key financial services, but it did not advance.
So far, congressional leadership hasn’t identified the more expansive financial protections as a priority for the so-called SAFE Plus package that’s being worked on. The plan is to pass the standalone bill as introduced, then take up amendments on the floor.
Senate Minority Leader Chuck Schumer (D-NY) has emphasized that those amendments should be focused on promoting equity and addressing the harms of the drug war. He and other colleagues have specifically called for the inclusion of language to facilitate marijuana expungements.
Sen. Jacky Rosen (D-NV) also recently said that she wanted the SAFE Banking Act to pass with an amendment allowing cannabis businesses to access federal Small Business Administration (SBA) services.
The idea of giving small marijuana businesses access to those federal services may be more easily viewed as an equity contribution, whereas the ability of the industry to list on major stock exchanges is a tougher sell that could receive pushback from advocates who are generally skeptical of any incremental reforms that principally benefit corporate interests.
“Allowing Wall Street to invest in marijuana while it remains federally criminalized would demonstrate the federal government prioritizing corporate interests over criminal justice reform,” Cat Packer, vice chair of Cannabis Regulators of Color Coalition (CRCC) and director of drug markets and legal regulation at the Drug Policy Alliance (DPA), told Marijuana Moment on Thursday.
“It’s a joke to think that access to stock exchanges will significantly benefit Black businesses in a way that would justify prioritizing this issue before others that actually impact that lives of individuals and communities most impacted by cannabis criminalization and enforcement,” Packer, who testified as an invited witness at last week’s Senate Banking Committee hearing, said.
Meanwhile, Schumer said that he wants a committee vote scheduled in the panel “in the near future” so that it can advance to the floor where members can discuss proposed additions. Banking Committee Chairman Sherrod Brown (D-OH) also said recently that senators planned to “move quickly” on the SAFE Banking Act.
The majority leader has emphasized his commitment to advancing the marijuana banking legislation with criminal justice provisions included, calling the broader effort to repair the harms of the drug war a “moral responsibility” for Congress.
To some advocates, part of that responsibility means advocating against adding language that could contribute to the industry’s corporate consolidation or threaten to undermine broader legalization efforts.
“I can’t follow the logic that giving large national companies the ability to be publicly traded on Wall Street helps small businesses at all—let alone the idea that stock exchange access is the most urgent cannabis issue and should be prioritized by Congress over freeing incarcerated people or protecting cannabis patients,” Shaleen Title, founder and director of the Parabola Center, told Marijuana Moment.
The Minority Cannabis Business Association tweeted on Thursday that while some its members “would benefit from capital market access, we believe that adding capital market access without significant protections against monopolization + SBA access will only further exacerbate the inequities of the existing marketplace.”
Last month, Schumer said that he was “disappointed” that a so-called SAFE Plus package of cannabis reform legislation didn’t advance last year, saying “we came close,” but “we ran into opposition in the last minute.” He said lawmakers will continue to “work in a bipartisan way” to get the job done.
The majority leader has been holding meetings with Democratic and Republican members in the early months of the new Congress to discuss cannabis reform proposals that might have bipartisan buy-in this year.
Booker said recently that lawmakers are working to “resurrect” the cannabis reform package, acknowledging that failure to advance a banking fix for the industry “literally means that hundreds of businesses go out of business.
Rep. Earl Blumenauer (D-OR), who is sponsoring the House version of the SAFE Banking Act, said at a recent press briefing that thinks it’s important that advocates and lawmakers align on any incremental proposals to end the drug war, warning against an “all-or-nothing” mentality.
The American Bankers Association (ABA) also recently renewed its call for the passage of the legislation. And all 50 of its state chapters did the same, as did insurance and union organizations, in recent letters to congressional leadership.
Another 100 million became unrestricted after 2/28/23. You conveniently left that out.
New Share Issued Exactly 350M, All Debt Conversion
Changes in the Number of Outstanding Common Shares:
11/30/2021 4,979,231,963
2/28/2023. 5,329,231,963
Change 350,000,000 shares
Debt Conversions:
3/24/2022 175,000,000 Mommoth Corp
10/28/2022 175,000,000 Mommoth Corp
Total Issued Shares 350,000,000
Let’s be clear, they are using the stock to pay for everything, it’s not all CDs. Riss always operated this way.
Zen
this happened 1 1/2 ago that 175 million...since that 1B shares was converted and stock dropped 95%
I am not wrong...conversions never end in OTC....EVER...they pause for few days but they never end...why else would they be an OTC company...its not regulated at all...its WWW...everybody does what they want CEOS issued billions of shares getting paid 5 digit monthly salaries on and on and on
you called conversions done at least 10 times that I saw....this is not a start up...this is a compnay they knew they getting Fcuked deal from Paul and inherited all the damn debt...we all paying for it...Paul doesnt German doesnt CFO doesnt...us sharehodlers getting screwed at every turn...time to admit things once and for all...I am down big but we been lied to about deadlines, conversions,progress etc
I mean CEO cant even slow conversion nevermind agree on some kind of a deal favorable to sharehodlers
GL
I am speechless!
12ka Post:
"I have never seen conversions being done ever on a otc stock....such a thing does not exist"
How could you say something like this, you are essentially 100 % wrong.
Nearly every start up company, and actually most companies have convertible debt. I know I am wasting my time trying to enlighten you but do some basic DD.
PVSP CEO even told shareholders that a debt holder had decided to convert some of their debt into 175 Million shares as they wanted to get some of their investment back. We know it was Mammoth as they hold most of PVSP debt.
with otcn and intl cfgn and other dilutive MM hanging around no it is not....
I have never seen conversions being done ever on a otc stock....such a thing does not exist
Oh good you are leaving ?
Marijuana Is Associated With ‘Significant’ And ‘Sustained’ Health Improvements,
American Medical Association Study FindsPublished 1 day ago on May 16, 2023By Kyle Jaeger
SCIENCE & HEALTH
The use of medical marijuana is associated with “significant improvements” in quality of life for people with conditions like chronic pain and insomnia—and those effects are “largely sustained” over time—according to a new study published by the American Medical Association (AMA).
Researchers carried out a retrospective case series analysis that involved 3,148 people in Australia who were prescribed medical cannabis for the treatment of certain eligible conditions.
For all eight wellbeing indicators that were tested, marijuana appeared to help, with adverse side effects that were “rarely serious,” according to the study, published last week in the Journal of the American Medical Association (JAMA) Health Policy.
Patients were asked to rate their wellness in eight categories on a scale of 0-100 at different stages of treatment. Those categories were general health, bodily pain, physical functioning, physical role limitations, mental health, emotional role limitations, social functioning and vitality.
After administering the survey to the patients about once every 45 days, for a total of 15 follow ups, the study found that participants who were consuming cannabis reported average improvements of 6.6-18.31 points on that 100-point scale, depending on the category.
“These findings suggest that medical cannabis treatment may be associated with improvements in health-related quality of life among patients with a range of health conditions,” the researchers from the Swinburne University of Technology, University of Western Australia and Austin Hospital wrote.
“Patients using medical cannabis reported improvements in health-related quality of life, which were mostly sustained over time.”
The most common conditions for which marijuana was prescribed were non-cancer chronic pain (68.6 percent), cancer-related pain (6.0 percent), insomnia (4.8 percent) and anxiety (4.2 percent).
“The use of cannabis as a medicine is becoming increasingly prevalent,” the study says. “Given the diverse range of conditions being treated with medical cannabis, as well as the vast array of products and dose forms available, clinical evidence incorporating patient-reported outcomes may help determine safety and efficacy.”
The doses, methods of consumptions and cannabinoid profiles of marijuana products that patients used varied significantly. Even so, the “estimated treatment effects were very similar.”
The researchers said that the retrospective case series analysis is limited by the fact that there was not a control, making it more difficult to generalize the results.
“This study suggests a favorable association between medical cannabis treatment and quality of life among patients with a diverse range of conditions,” it concludes. “However, clinical evidence for cannabinoid efficacy remains limited, and further high-quality trials are required.”
This is just the latest in a long list of studies supporting the therapeutic potential of marijuana as more states and countries move to reform their cannabis laws.
For example, another recent study from the University of Colorado found that consistent marijuana use is associated with improved cognition and reduced pain among cancer patients and people receiving chemotherapy.
A separate AMA study that was released earlier this year found that chronic pain patients who received medical cannabis for longer than a month saw significant reductions in prescribed opioids.
AMA also published research late last year that connected state cannabis legalization with reduced opioid prescribing for certain cancer patients. Numerous studies have linked cannabis legalization and self-reported marijuana use to reduced opioid prescribing and overdose deaths.
State-level marijuana legalization is also associated with notable reductions in prescribing of the specific opioid codeine, according to another recent study that leverages data from the federal Drug Enforcement Administration (DEA).
How much do you pay for continuing losses? Not EBIDTA, but LOSSES. I would pay zero.
Coming together nicely next few months!
1. We get the Audited Financials completed
2 We get the NEW Artizen spin off
3. We up list to the OTCQB from pink
4. We get the California Expansion announcement
5. Safe Banking legislation passes and becomes law
Just to name a few!
That's the (conversions) unknown!!
Will get nothing until the unknown is done!! Grabbing these Cheapies!
Sure feels like the Conversions are done!!!
Only time will tell for sure, meantime BUY'em is the word!!
There’s virtually no possibility a large asteroid will hit Earth and wipe us all out within the next 1,000 years, according to a new study accepted for publication in The Astronomical Journal.
That means it's safe to put your money on pot!!
Let's go German!
Stock Price recently valued PVSP at $1.1M with $18M in Revenue, LOL
Cannabis Companies are currently valued at 2 to 4 time trailing revenue, which should put us at $36M to $72M. Super Conservative value would be round $50M.
Currently we are valued 50 times lower than where we should be, even in this extremely depressed market.
This imbalance will not stand, the conversions are over and have contributed to the insane pricing.
Financial audit should hopefully be completed soon. Target was for early May and here we are now moving into last half of the month.
Not sure I want any update though. Seems any updates are immediately followed by a barrage of dilution. Next update might set us at $.0001, JMO
German > ................................................. / .........................................<.Mayorkas ? $ PVSP/AZEN
Man we need a Share Reduction Bad...I wish management could address this issue...still Waiting To Rock!!
$PVSP
Pot Acceptance Is Climbing Even as Illicit Market Has Grown
A study shows that public acceptance of cannabis is growing.
A study shows that public acceptance of cannabis is growing.
ByTiffany Kary
May 15, 2023 at 7:00 AM EDT
Welcome to the latest edition of my weekly newsletter on marijuana and psychedelics. From a Senate hearing on the SAFE Banking Act to psilocybin decriminalization in Connecticut, there was, as usual, a lot going on in my industries last week. But it was this snapshot of where America’s at with weed that I found most interesting.
America’s on board
Cannabis may face financial and regulatory malaise in the US, but that isn’t affecting the perceptions of consumers, who increasingly approve of it.
A survey of nearly 4,400 US marijuana consumers and 1,200 nonusers shows how acceptance and use have grown over the past year alongside the expanding legal and illicit markets. More people report using marijuana, while naysayers are dwindling, according to New Frontier Data, a cannabis consulting firm.
The study also showed that about a third of weed consumers use it multiple times a day, despite new data showing links between heavy marijuana use and health problems such as schizophrenia and heart disease.
An estimated 42% of US consumers have used cannabis and plan to use it again — up from 39% a year ago, the report found. On the flip side, only 30% said they had never used it and never would, down from 34% a year ago. More people were also open to trying it for the first time, while only 13% said they’d never use it again, a percentage point lower than in 2022.
Americans Warm Up to Pot
Acceptance has risen since 2022
Source: New Frontier Data
The snapshot shows an increasingly cannabis-friendly US consumer. For example, 31% of cannabis consumers use it multiple times a day. Among ages 18 to 34, the trend was even more pronounced, with 41% of consumers using multiple times daily. Those numbers have declined since last year, when they were 36% and 46%, respectively. But there’s still no indication that peak pot is coming soon: As more states legalize, the industry is projected to grow 17% to $34 billion in sales in 2023, according to New Frontier’s estimates.
The data shows rising approval despite the fact that legalizing marijuana hasn’t panned out as planned. Creating state-licensed sales was supposed to create a safe supply and get rid of the health risks and organized crime that came with the illicit market.
Instead, underground sales of the drug have grown over the past few years, rising to $77 billion in 2022 from $70 billion in 2020, according to New Frontier estimates.
The report does project that the illicit market will decline to $73 billion in 2023, however. The legal market is projected by New Frontier to grow steadily in the coming years while the illicit market is seen slipping slightly.
Pot Habits
The youngest cannabis users partake the most often
Source: New Frontier Data
Nor has cannabis replaced alcohol use, as proponents of “California Sober” have hoped. The study found instead that cannabis users are more likely to consume alcohol, and generally do it more often. While only 21% of cannabis nonusers drink alcohol a few times a week, 34% of cannabis users drink that often, the report found.
Despite the projections for growth, marijuana stocks have slumped in recent years amid stalled progress toward legalization at the federal level. While a growing number of states are legalizing cannabis, federal lawmakers have been unable to break an impasse on legislation that would give the industry greater access to financial services, let alone a full legalization. Last year, President Joe Biden called for a review of the drug’s classification — a process that could prove lengthy.
Number of the week
41% of cannabis consumers age 18 to 34 say they use it multiple times a day, according to New Frontier's report.
Quote of the week
“Cannabis is being held a political hostage. It’s only made it halfway to the dream, which is difficult to achieve without legal clarity.”
50 State Bankers Associations, Insurance Groups And Top Union Urge Passage Of Marijuana Banking Bill
https://www.marijuanamoment.net/50-state-bankers-associations-insurance-groups-and-top-union-urge-passage-of-marijuana-banking-bill/
Oldrogue.
Cannabis groups pleased with SAFE Banking hearing as senators push for expungement
author profile pictureBy Kate Robertson, Writer
May 11, 2023
Cannabis industry groups were heartened Thursday to hear bipartisan support from members of the U.S. Senate Banking Committee for marijuana banking reform – particularly, passage of the Secure and Fair Enforcement (SAFE) Banking Act.
The Democratic-controlled banking panel convened the hearing about the challenges that a largely cash-based industry poses to small businesses and employees.
If lawmakers were to approve the SAFE Banking legislation, federal banking regulators would be prohibited from punishing financial institutions that offer basic banking services to marijuana businesses following state law.
While the outlook for passage appears better than in previous years, industry officials and congressional watchers say that approval is far from assured.
“The hearing showcased thoughtful discussion from members on both sides of the aisle, with a consensus among witnesses that the bill could go further to be most impactful, which should include providing broader access to financial services during committee markup,” Saphira Galoob, executive director of advocacy group National Cannabis Roundtable, said in a statement.
Sen. Elizabeth Warren, a Massachusetts Democrat, said at the hearing that SAFE Banking is “long overdue” but that she is also working on the descheduling of marijuana.
“If people can still get busted for purchasing marijuana, many banks will find it too risky to serve legal cannabis businesses, no matter whether we tell them it is technically OK,” she added.
Sen. Steve Daines, a Republican from Montana who reintroduced the legislation last month with Sen. Jeff Merkley, D-Oregon, emphasized the safety risks of cash transactions in marijuana businesses, which are vulnerable to burglaries.
“To enter the banking system will help law enforcement more easily distinguish legitimate actors and focus more of their resources on prosecuting the illicit market.”
Support for SAFE
At the same time, Senate Majority Leader Chuck Schumer, along with two Democratic colleagues, endorsed adding marijuana expungement legislation to the SAFE Banking measure.
“We were encouraged to see the SAFE Banking Act reintroduced last week after Senator Daines and Senator Merkley worked to make key improvements to the legislation,” Schumer said in a statement along with Oregon Sen. Ron Wyden and New Jersey Sen. Corey Booker.
“We look forward to watching this legislation progress through the Banking Committee and working with bipartisan partners to include additional improvements, such as the Harnessing by Pursuing Expungement (HOPE) Act, which would support states that want to expunge cannabis record with grants.”
Witnesses Merkley and Daines were joined by:
Ademola Oyefeso, international vice president and director of the legislative and political action department at the United Food and Commercial Workers International Union (UFCW).
Michelle Sullivan, chief risk and compliance officer at Dama Financial.
Kevin Sabet, president, CEO and fellow at Smart Approaches to Marijuana.
Cat Packer, the vice chair at the Cannabis Regulators of Color Coalition.
During the worker- and small business-focused hearing, Packer and Oyefeso shared with the committee how barriers to banking and financial services harm cannabis employees and efforts to create equitable business opportunities.
Workers who are paid in cash are vulnerable to theft, Oyefeso said, and some employees aren’t able to show adequate proof of employment to qualify for mortgages or leases. Others can’t secure loans, he said.
Giving cannabis workers better banking services would give them better financial stability, he said.
“Cannabis workers do not deserve to be treated as criminals,” Oyefeso said, “and should not have to struggle with financial and legal ambiguity on the job.”
Packer urged Congress to push for more comprehensive reform beyond banking, which she said was the only way to adequately address the harms of federal prohibition.
She added that the SAFE Banking Act could be more equitable if it included language ensuring that previous marijuana convictions wouldn’t be “red flags” used to reject loan applicants or those seeking access to financial services.
“It’s true that small businesses and workers can’t afford to be shut out of banking,” Packer said.
“But it’s also true that they can’t afford for disparities in traditional banking to become the new norm for cannabis banking.”
]HATE IT WHEN THE BOARD GOES SILENT ON A DOWN DAY!!!!
NOT THIS BOARD!! GO PERVASIP!!!
GO $PVSP
Senate holds first hearing on bill to help marijuana businesses access financing
MARIJUANA
PUBLISHED THU, MAY 11 20239:10 AM
Stefan Sykes
Chelsey Cox
KEY POINTS
The Senate is holding its first hearing Thursday on the Secure and Fair Enforcement (SAFE) Banking Act.
Last month, a group of bipartisan lawmakers reintroduced the SAFE Banking Act in the House and Senate.
The legislation will free up banking services for the cannabis industry.
Aaron Smith, chief executive officer of the National Cannabis Industry Association, speaks during a news conference on the Safe Banking Act outside the US Capitol in Washington, D.C., on Wednesday, Sept. 14, 2022.
Aaron Smith, chief executive officer of the National Cannabis Industry Association, speaks during a news conference on the Safe Banking Act outside the US Capitol in Washington, D.C., on Wednesday, Sept. 14, 2022.
The Senate Banking Committee is holding its first-ever hearing Thursday on a bipartisan bill that would allow the cannabis industry to access traditional banking services — which marijuana businesses see as critical to their survival.
The meeting, titled “Examining Cannabis Banking Challenges of Small Businesses and Workers,” will hear testimony from lawmakers on both sides of the aisle, including Sens. Jeff Merkley, D-Ore., and Steve Daines, R-Mont., who reintroduced the standalone bill last week. The committee will also hear from witnesses including the Cannabis Regulators of Color Coalition, Drug Policy Alliance and the United Food and Commercial Workers International Union.
Thursday’s hearing will determine next steps in getting the bill to the Senate floor for a vote, as Senate Majority Leader Chuck Schumer and other key lawmakers express support for it. It comes as the marijuana industry, which is facing a downturn even as more states approve legal markets, has pushed Congress to take action on the issue.
“Without full access to the banking and payments system, legal cannabis businesses are forced to operate in the shadows,” said Sen. Sherrod Brown, an Ohio Democrat and chairman of the committee, during opening remarks.
Many business owners also rely funds from friends and family in lieu of small business and bank loans because “they might go through all the cost and effort, only to be denied,” Brown said.
Echoing Brown, committee ranking member Sen. Tim Scott, R-S.C., said that “Congress has a responsibility to ensure that all legal industries have access to financial institutions and services.”
But he added that lawmakers must eliminate the possibility of loopholes in money-laundering laws before the act becomes law. Any loopholes could make it harder for law enforcement to catch drug and weapons traffickers, Scott said.
Senate action on the bill is welcome news to executives across the industry, including Craig Sweat, the owner of Uncle Budd NYC, the company that first brought mobile dispensary trucks to New York City.
“I’ve been held up for so long that I have product that is sitting and getting old,” said Sweat, who after years of operating his mobile dispensary company and then a delivery service, has entered into a lucrative manufacturing and licensing partnership with Omnium Canna to produce his products.
“I have no way of transferring funds, I can’t pay staff, I’m just sitting on my hands,” Sweat said, adding that his latest business venture hasn’t been able to launch as banks, fearful of federal prosecution, have been giving him the “runaround.”
Marijuana banking bill heads to Senate Banking Committee
Reuters
May 11 (Reuters) - Shares of pot companies were trading higher on Thursday as the U.S. Senate Banking Committee prepares to discuss the SAFE Banking Act, a crucial legislation that would make it easier for the cannabis industry to access banking services.
If the bill advances through the committee stage, it would be voted by the Senate for the first time. The bill has been passed by the House of Representatives seven times in the past.
Industry insiders are cautiously optimistic that the bill, which has bipartisan support, will be signed into law this time.
Goodness Growth Holdings Inc (GDNS.CD), Cresco Labs Inc (CL.CD), Cronos Group Inc , SNDL (SNDL.O), Trulieve Cannabis (TRUL.CD) and Aurora Cannabis were up between 0.60% and 8.6% in early trading.
BRADY COBB - CEO, SUNBURN CANNABIS & DC LOBBYIST
"This time (it) feels different. With strong bipartisan support and committee leadership, coupled with the majority leader's recent pivot to a position of support, I expect the hearing to be favorable and for a mark up and floor vote to be scheduled in coming weeks."
MATT HAWKINS - FOUNDER & MANAGING PARTNER, ENTOURAGE EFFECT CAPITAL
"SAFE Banking's bicameral nature this time around is an encouraging step forward compared to its past filings, but the outcome of hearing will provide much-needed context. If Congress truly cares about representing public opinion and supporting hardworking entrepreneurs, they must come together to finally pass this much-needed reform."
JIM CACIOPPO - CEO, CHAIRMAN AND FOUNDER, JUSHI HOLDINGS INC
"Instead of squandering another opportunity, Congress has a chance to pass the SAFE Banking Act. Cannabis businesses have continued to pay more than their fair share of state, federal, Social Security and Medicare taxes, and it's time we stop discriminating against the industry."
TROY DATCHER - CEO, THE PARENT COMPANY
"In this challenging economic environment, swift passage (of the bill) is crucial for the tens of thousands of state-licensed and ancillary cannabis businesses. This legislation will also help address the public safety risks that have been created by forcing a $30 billion industry to operate largely in cash."
MORGAN PAXHIA, MANAGING PARTNER OF POSEIDON INVESTMENT MANAGEMENT AND $PSDN CANNABIS ETF
"This is the first of several steps for the Senate to proceed forward to a vote so this was very welcome to say the least. The American Bankers Association is pleading for fast tracking to a vote in the Senate and we support their plea."
All them bid sitter 4's are down 25% today. Weeeeeeeeeeeeeeeeeeeeeeeeeeeeee $$$$
I’m not sure the market trusts pvsp to actually consummate the spin off.
Zen $$
That’s where you go to sell stock!!!!
Zen $$$$$$$
Have to agree,this has become a shitshow
208 million on the bid volume!
Oldrogue.
POLITICSWatch Live: U.S. Senate Committee Holds Marijuana Banking Hearing
https://www.marijuanamoment.net/watch-live-u-s-senate-committee-holds-marijuana-banking-hearing/
Oldrogue.
Merkley, Blumenauer optimistic about prospects of cannabis banking act
https://oregoncapitalchronicle.com/2023/05/10/merkley-blumenauer-optimistic-about-prospects-of-cannabis-banking-act/
Oldrogue.
American Bankers Association Calls For ‘Swift Passage’ Of Marijuana Banking Bill Ahead Of Senate Committee Hearing
May 9, 2023By Kyle Jaeger
The American Bankers Association (ABA) is renewing its call for the passage of a bipartisan marijuana banking bill that was refiled last month.
Days before the Senate Banking Committee is scheduled to discuss the issue at a marijuana-focused hearing, ABA sent a letter to congressional leadership voicing “strong support” for the Secure and Fair Enforcement (SAFE) Banking Act.
The association said that this “important legislation would help bring certainty to an important issue that has become a challenge for so many of our nation’s communities and the banks that serve them.”
“The SAFE Banking Act is an urgently needed, and widely supported, bipartisan solution that will allow banks to handle not only the proceeds from both state-licensed cannabis businesses and the ancillary businesses—accountants, skilled trades, landlords, law firms, and other service providers—those businesses rely upon to operate, but also accept deposits from and make loans to employees of those businesses,” the letter says.
While the measure has passed the House several times in recent sessions, it’s repeatedly stalled in the Senate under both Democratic and Republican control. This time, however, the Senate is taking the lead, starting with Thursday’s Banking Committee hearing.
“Federal law currently prevents banks from banking cannabis businesses and these ancillary businesses, without fear of federal sanctions,” ABA said. “As a result, this industry is operating primarily in cash, which is not only a public safety risk, but also undermines the ability for regulators, tax collectors, and law enforcement to monitor the industry effectively.”
The association said that it does not take a position on federal cannabis legalization but that its “member banks find themselves in conflict between state and federal law, with local communities encouraging them to bank cannabis businesses and federal law prohibiting it.”
ABA has consistently advocated for the SAFE Banking Act—with letters to Congress, polling that shows public support for the financial reform and events where lawmakers have promoted the legislation.
this idiot of a CEO cant take care of stupid notes that are destroying everything infront of them like tsunami
complete failure IMO
Could get even more ridiculously undervalued as $.0001 / $.0002 is fast approaching, at least trending that direction. JMO GLTA
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