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Epling was recorded without his consent and testified under oath in federal court that he misspoke. That is not evidence. He even admits to selling shares over 1%, and would have sold more. Bruce runs the company. Epling was only an advisor. Still is.
3 years later, still no evidence.
SEC should have ran background checks on the DISGRUNTLED whistleblowes.
Counter CLASS-ACTION suit will be served swiftly, and justice will be served.
SEC Civil - CIVIL - Complaint. 3 years old and still no evidence.
No jury will convict without FACTUAL MATTER in support of basis of original "CIVIL COMPLAINT".
I bet Alan knows... /s
Yes, it DIDN'T need to be pointed out.
QUOTE:
Awful third-grade level, four sentence write-up, from self proclaimed "analyst" missing calls since 2013, paying for ad space, pumping self produced blog-site.
No one should bother wasting brain cells with that filth. Even worse, they will lose money, while being taken advantage of from a nobody making WRONG CALLS.
What happened to him? Havent been seen since the epic WRONG CALL Dec 2013.
Wednesday Wrap: Reefer madness
Posted 7:45 p.m. today
RALEIGH, N.C. — Smokable hemp was so popular Wednesday, it was the focus of two separate House committee hearings.
Rep. Jimmy Dixon, R-Duplin, is adamant that smokable hemp, which looks and smells like marijuana but lacks the THC potency to get anyone high, needs to be banned in North Carolina, or else marijuana prosecutions will be next to impossible to pursue. So, he has inserted the ban into the annual Farm Act, and he also rewrote a Senate bill on controlled substances to define smokable hemp as marijuana. Both bills cleared committees Wednesday.
Meanwhile, the full House passed updates to the Read to Achieve elementary school reading program after a lengthy debate on the merits of phonics and sent to Gov. Roy Cooper the "Greg Lindberg bill" limiting the ability of insurance companies to invest in affiliated businesses. Lindberg, a major political donor indicted on bribery charges, made a fortune in the insurance business by pulling money out of some of his companies and investing in others.
A bill that would treat recipients of athletic scholarships handed out by University of North Carolina schools as in-state students was pulled from the House floor after some disagreement over whether the measure skipped some committees in the legislative process.
Outside the Legislative Building, testimony continued in a lawsuit challenging the House and Senate voting districts lawmakers drew in 2017 as illegal gerrymanders meant to benefit Republicans. Rep. David Lewis, R-Harnett, who oversaw the map-making process, sharply criticized the lawsuit, saying the districts were properly drawn.
Source: https://www.wral.com/wednesday-wrap-reefer-madness/18516499/
AG Racine Leads 37 Attorneys General Urging FDA to Partner with States to Protect Consumers of…
POSTED BY: NEWS DESK JULY 16, 2019
News release from AG Racine:
WASHINGTON, D. C. – Attorney General Karl A. Racine today led a coalition of 37 Attorneys General urging federal cooperation with the states to protect consumers from false advertising and potential harms to their health from products containing cannabis or cannabis-derived compounds, including cannabidiol (CBD). In a public comment filed with the Food and Drug Administration (FDA), the AGs highlight the need for research into the risks and benefits of cannabinoid products to inform consumers and assist in state-level regulation. They also encourage the FDA to continue partnering with state consumer protection authorities as it considers guidelines for this emerging market.
“While CBD and other cannabis-derived products may benefit some consumers, we still have many questions about the effects of these products and about whether they are being manufactured safely and responsibly,” said AG Racine. “To keep consumers safe and help them make informed decisions, Attorneys General are encouraging the FDA to study these products and to continue to work with states on oversight for this emerging market.”
The Farm Bill, passed in December 2018, removed cannabis products containing less than .3% of THC, the main psychoactive compound in cannabis, from the Schedule I list of drugs prohibited under the Controlled Substances Act. As a result, companies across the country have started to manufacture and sell varieties of cannabis commonly classified as “hemp.” Hemp contains little THC but large amounts of CBD, a compound that has been touted by some to treat a wide variety of health concerns.
The Farm Bill permits states to come up with their own “Comprehensive Regulatory Plan” to regulate the CBD industry within their borders. Those plans will be reviewed by the federal government for approval. In the interim, however, the CBD industry has expanded in the last six months and businesses are operating throughout the country without much oversight.
In their public comment to the FDA, the Attorneys General call for:
State and federal cooperation around cannabis-derived products: As the primary enforcers of state laws and consumer protections, State AGs want to ensure the safety of CBD and other cannabis-derived products that are reaching consumers. AGs are also concerned that companies may rely on misleading advertising and unsubstantiated claims of therapeutic benefits to lure consumers to use their products. The letter urges the FDA to include State AGs in the process as the agency considers regulatory oversight in testing and manufacturing of these products.
Continued study of the potential risks and benefits of these products: To keep consumers safe and help them make informed decisions, the AGs encourage the FDA to study how cannabis compounds work, in particular, and how they interact with drugs and dietary supplements. They also emphasize the need for an assessment of the risks these products pose to vulnerable populations, such as children, pregnant women, and the elderly. It is important that consumers have reliable risk and benefit information to make informed choices about initiating and continuing the use of these products.
The comment letter to the FDA is available at: https://oag.dc.gov/sites/default/files/2019-07/NAAG_AG_Comment_to_FDA_on_CBD_and_Cannabis_Products.pdf
The multistate coalition was led by District of Columbia Attorney General Karl A. Racine and Oklahoma Attorney General Mike Hunter and includes the states and territories of Alabama, Alaska, California, Connecticut, Delaware, Guam, Hawaii, Illinois, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Northern Mariana Islands, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, and Washington.
Source: https://fairfaxnews.com/2019/07/ag-racine-leads-37-attorneys-general-urging-fda-to-partner-with-states-to-protect-consumers-of/
FMI nudges FDA to clarify CBD product regulation
CEO Leslie Sarasin cites “significant confusion in the marketplace”
Russell Redman 1 | Jul 17, 2019
The Food Marketing Institute (FMI) has submitted comment to the Food and Drug Administration on the commercialization of food, beverage and other products containing cannabis or cannabis-derived compounds, including cannabidiol (CBD).
FMI said Wednesday that its letter to the FDA comes in response to the agency’s request for scientific data and information about such products, notably those with hemp and hemp-derivatives like CBD. The grocery industry trade group noted that although various CBD offerings are making their way into stores, many retailers remain uncertain about the regulatory framework regarding the sale and labeling of hemp-containing products. Scientific research on CBD’s potential health benefits also is still in its early stages.
“Consumer interest in hemp and hemp-derived products, especially those containing CBD, continues to grow rapidly, and the market is far too large to remain unregulated. Food retailers need a clear and comprehensive regulatory framework for the sale and labeling of these products in order to ensure they are marketed in a safe, responsible fashion,” FMI President and CEO Leslie Sarasin said in the July 16 letter.
Late last year, the federal government changed its classification of cannabis with the enactment of the Agriculture Improvement Act of 2018, or the Farm Bill. The legislation removed hemp — cannabis or derivatives with a very low content of psychoactive ingredient THC — from the Federal Controlled Substances Act’s definition of marijuana. That meant hemp was no longer a controlled substance under federal law, even though marijuana remains a Schedule I drug.
“More and more companies are taking steps towards entering this space. Sold in pill form, foods, oils, tinctures, topical lotions, and even in bottled water and cosmetics, CBD is already in countless products on the market. That said, the absence of a clear pathway to market for CBD-containing foods, beverages and dietary supplements to date means consumers currently face a variety of risks, from unsubstantiated health and benefit claims, to a lack of standardization in product labeling and packaging, to products that may not contain the ingredients it purports to contain,” Sarasin explained in her comments.
“Furthermore, given the consumer demand and the desire of our members to provide products their customers are seeking, we are fielding more and more questions from companies that are understandably seeking clarity about the current regulatory framework for the sale and labeling of products containing CBD,” she added.
Under current federal law, CBD and THC can’t be added to a food or marketed as a dietary supplement according to Acting FDA Commissioner Ned Sharpless. FDA maintains regulatory oversight of food, cosmetics, drugs and other products within its jurisdiction that have CBD, THC or the cannabis plant itself as an additive.
Sarasin (left) noted in the letter that FMI understands that the Farm Bill didn’t pre-empt state law on the manufacturing and/or sale of products containing hemp or hemp-derivatives or change the FDA’s authority over the use of hemp or hemp-derivatives in products it regulates.
“The current lack of FDA regulation is creating significant confusion in the marketplace. FMI respectfully urges FDA to move expeditiously to provide additional clarity and establish a pathway forward for the use of hemp-derived ingredients, including CBD, in FDA-regulated products,” she said. “The safety concerns and marketplace confusion surrounding hemp and hemp-derived products will continue until FDA provides guidance governing the production, sale, quality and marketing of these products.”
In its comments to the FDA, FMI cited a 2019 Consumer Reports survey of over 4,000 Americans finding that more than a quarter have tried CBD, and one out of seven of those people said they use it every day.
Retailers large and small have been responding to that demand. Last month, for example, supermarket giant The Kroger Co. said it will sell hemp-derived CBD items such as lotions, balms, oils and creams in 945 stores — including its Kroger, Mariano’s, Pick ‘n Save, Dillons, King Soopers, Fry’s, Fred Meyer, QFC and Smith’s banners. Also in June, Dierbergs Markets announced the rollout of hemp-derived CBD oil products to all 25 of its stores in Missouri.
Perhaps reflecting the confusion in the marketplace, online grocer Thrive Market reported that as of June 20 it stopped selling hemp- and CBD-based products in response to a request by its merchant processor. According to CEO Nick Green, Thrive began carrying a full assortment of hemp-based supplements and topical products about a year-and-a-half ago, making it the nation’s first national e-commerce retailer to do so.
“We believe that ethical and sustainable hemp is another cause worth fighting for, so rest assured that we will be working behind the scenes in the coming weeks to get hemp products back on Thrive Market,” Green said in a letter to customers.
The U.S. hemp-derived CBD market could grow to a $6 billion industry with the legalization of sales of food and beverages containing CBD from hemp, according to Nielsen. The market researcher reported that future CBD consumers may look to CBD-infused food offerings to promote health and wellness, including to enhance focus and relaxation as well as to alleviate certain ailments such as feminine pain, digestive problems and sleep disorders.
Source: https://www.supermarketnews.com/laws-regulations/fmi-nudges-fda-clarify-cbd-product-regulation
FDA Public Comment Period On Cannabis Closes
By Terry Lassitenaz - July 18, 2019
The public comment period associated with an FDA hearing on cannabis that invited experiences and challenges with cannabis products to be shared with the Administration has now closed.
In May, the USA’s Food and Drug Administration held a public hearing to obtain scientific data and information about the safety, manufacturing, product quality, marketing, labeling, and sale of products containing cannabis or cannabis-derived compounds. One of particular interest to the FDA is cannabidiol (CBD), which can be derived from hemp; marijuana’s non-intoxicating cousin.
More than 100 speakers presented at the hearing. The FDA also established a docket for public comment on this hearing, which was extended on June 20 to close at midnight on July 16, 2019. At the time of writing, more than 3,850 associated submissions had been received, all of which can be reviewed here.
Last week, Principal Deputy Commissioner and Acting CIO at the FDA, Dr. Amy Abernethy, stated the Administration was expediting its work to address the many questions about cannabidiol.
“This is an important national issue with public health impact, & an important topic for American hemp farmers and many other stakeholders,” said Dr. Abernethy. “We are enthusiastic about research into the therapeutic benefits of CBD products but also need to balance safety.”
Information collected through the public docket will assist the FDA’s work in this area. Dr. Abernethy says the FDA plans to report on its progress around end of summer/early fall this year.
“Where data gaps are identified, we will be examining how additional research can be performed quickly and efficiently to address critical questions about the safety and effectiveness of CBD,” said Dr. Abernethy in June.
The FDA is under a lot of pressure as the demand for CBD products in the USA continues to grow. Early this year, Senators. Ron Wyden and Jeff Merkley wrote to the FDA urging it to hurry up already and begin updating regulations related to hemp-derived CBD and other cannabinoids immediately.
A report published in May estimated the collective market for CBD sales is expected to exceed $20 billion in the United States by 2024; up on $1.9 billion in 2018.
Source: https://www.hempgazette.com/news/fda-cannabis-comment-hg0960/
"COMPETITION", like ALAN BROCHSTEIN, A BARELY KNOWN LOSER ANALYST LURKING THROUGH GRAVEYARDS, MAKING WRONG CALLS SINCE 2013.
Has been a long-standing opponent of Hemp Inc, the SUCCESSFUL #1 Premiere multi-purpose industrial hemp company in the USA since inception of newly emerging industry and BEYOND!
Sorry, wasn't trying to confuse good Allan with BAD "Wrong Call" Alan. Similar names...
HEMP ON!
You mean the "WRONG CALL" Alan's of the world?
[Not you "Allan", we all know the Alan I refer to... sad as it is, the ghost in the GRAVEYARD, hiding behind cronies and aliases]
"Making WRONG CALLS in the cannabis industry since 2013"
Short Manipulators are emotional folk. The cover comes closer and closer, as do HEMP INC REVENUES!
The manipulation is NOT the reason for the run.
The manipulators used the run as a mechanism to HIDE their WASH TRADES during HIGH VOLUME activity.
Could it factor in to the trade activity: absolutely. There are laws to prevent that exact type of behavior. However, was it the cause of the run: nope!
WHY DID 100's OF OTHER CANNABIS STOCKS SURGE 1000'S % AT THE EXACT SAME TIME? DID THOSE FOUR GUYS RUN THE ENTIRE SECTOR UP?????!!!!
DDDDUUUUUUUUUUUHHHHHHHHHH, [ANSWER] NO!!!!
SHORT MANIPULATORS BETTER TAKE NOTE. CLASS-ACTION AND JUNIOR SIZED COTS AWAITS!
Hemp Inc NOT named as Defendant in manipulation case
How about the FULL picture, shall we?; none of this pick-and-choose to fit "the dialogue".
Firstly, HEMP, INC., Bruce Perlowin, nor any other affiliate of the company or its subsidiaries were named as defendants in that old wash/manipulation case.
Criminal manipulation caused the sector run in 2014? [INTENTIONALLY OMITTED DUE TO EMOTIONAL SENSITIVITIES]
SEC successfully not finding evidence require to justify merits of original CIVIL COMPLAINT, even after THREE YEARS of sifting through every resource the USA government has to offer. Outside of tax returns not filed PRIOR to investigation period, they haven't discovered sqaut!
Alan ADMITS to working with authorities such as the SEC AND FBI... so I think we all know who is at the bottom of the BOGUS WHISTLE BLOWING.
Sorry Alan, it's over. Hang em up!
Missed the call the first time and ALL credibiltity lost.
He says he covers pot stocks but go look at his profile.... he DOESN'T COVER POT STOCKS!!! All he wants is to bait people over to his loser blog site, but can't even make correct calls!!!
Four sentences of "research" LOLOLOLOL what a loser.
Senate Schedules Hearing On Marijuana Business Banking Access
Jul 16, 2019, 06:48pm
Tom Angell
In one of the clearest signs of marijuana reform's growing momentum on Capitol Hill, a Republican-controlled Senate committee has scheduled a hearing for next week that will examine cannabis businesses' lack of access to banking services.
The formal discussion in the Senate Committee on Banking, Housing and Urban Affairs on Tuesday comes as legislation aimed at resolving the marijuana industry's financial services problems is gaining momentum. A House cannabis banking bill that cleared that chamber's Financial Services Committee with a bipartisan vote in March now has 206 cosponsors—nearly half the body—while companion Senate legislation has 32 out of 100 senators signed on.
The move for a hearing is somewhat of a surprise, as Chairman Mike Crapo (R-ID) had refused to commit to schedule time for the issue when asked in April, saying that "as long as cannabis is illegal under federal law, it seems to me to be difficult for us to resolve" the financial services piece.
But pressure has increased, with 50 state banking associations, the National Association of State Treasurers, the top financial regulators of 25 states, a majority of state attorneys general and bipartisan governors of 20 states all endorsing the legislation—the Secure And Fair Enforcement (SAFE) Banking Act—and calling on Congress to act on it.
Advocates point out that preventing banks from servicing state-licensed marijuana growers and retailers forces those businesses to operate on a cash-only basis, which creates public safety risks by making them targets for robberies.
While a House floor vote had been expected on the issue prior to the upcoming August recess, time is running short and no further action has yet been scheduled. That said, Minority Leader Kevin McCarthy (R-CA) last week noted bipartisan support for the legislation.
“There’s an issue when it comes to banking, making sure you’re able to having accountability within that,” he said. “I’ve heard a lot of bipartisanship in there.”
A separate House-passed spending bill also contains a provision seeking to prevent federal financial regulators from punishing banks for working with state-legal marijuana businesses, but its language is seen as less robust than the standalone legislation, which is sponsored by Rep. Ed Perlmutter (D-CO) in the House and Sen. Jeff Merkley (D-OR) in the Senate.
“House Democrats have a robust agenda which has made it tough to get time on the legislative calendar," a spokesperson for Perlmutter said in an email. "But as we continue to talk with people, we keep gaining more and more support and look forward to a strong vote on the floor of the House soon.”
Witnesses at the newly scheduled Senate hearing—titled "Challenges for Cannabis and Banking: Outside Perspectives"—will include representatives of the Credit Union National Association (CUNA), Citywide Banks and prohibitionist group Smart Approaches to Marijuana.
“At its heart, cannabis banking is a public safety issue. It’s an $8.3 billion industry that’s currently being forced to operate almost entirely in cash," CUNA President and CEO Jim Nussle said. "While 33 states, territories and DC have legalized cannabis, it’s been overwhelmingly difficult to provide these businesses financial services because handling transactions are currently considered money laundering. Credit unions have been leading the way in helping to get this money off the streets. We are dedicated to finding a solution to this ongoing challenge that impacts every community around the country, and look forward to working with Senate leaders during this hearing and with Congress at large.”
Also testifying will be John Lord, CEO of marijuana retail chain LivWell Enlightened Health and chairman of the industry advocacy group the Cannabis Trade Federation (CTF).
Neal Levine, CEO of CTF, said in a statement that he hoped the organization's testimony will "contribute to the growing momentum behind meaningful and historic cannabis policy reform."
“This hearing is yet another sign that Congress is taking the cannabis banking problem seriously and intends to take action to correct it,” he said. “Cannabis businesses operating legally under state and local laws should have the same access to banking and financial services as any other type of business."
Merkley and Sen. Cory Gardner (R-CO), the bill's chief GOP cosponsor, will appear at the hearing as well.
Michael Correia, government relations director for the National Cannabis Industry Association, called the hearing "yet another signal of the bill’s popularity."
"Chairman Crapo has been clear that he does not support marijuana," he said. "However, this clearly shows that he understands this issue is a banking problem that has serious public safety implications."
Beyond financial services access, support on broader marijuana issues is growing in Congress.
Last week, a House Judiciary subcommittee held a first-ever hearing on ending federal cannabis prohibition at which lawmakers and witnesses expressed a near consensus that far-reaching reforms are needed but voiced some disagreement over specific provisions of pending bills.
Last month, the House approved amendments to protect state, territory and tribal marijuana laws from Justice Department interference and last week passed a measure to let military veterans who work in the cannabis industry apply for government-backed home loans.
Source: https://www.forbes.com/sites/gradsoflife/2019/07/03/4-tips-to-recruit-hire-and-retain-opportunity-youth/#6599c28a5535
Why doesn't Alan come around anymore?
PROBABLY BECAUSE HE'S TOO BUSY AT HIS FULL-TIME JOB MAKING W-R-O-N-G--C-A-L-L-S OR SPREADING FILTH ALL OVER THE INTERNET.
YIKES!
Or maybe it's the new alias or hiding behind cronies...
DOUBLE YIKES!
Class action should more than sting a little.
VERIFICATION?!?!??!?!?!?!?!?!?!?!?! WHERE IS VERIFICATION???!!!
WHAT, ARE MY EYES BLEEDING????
Easy to VERFIY "WRONG CALL" ALAN. Don't have to go far! YIKES! It REEKS of WRONG CALLS once again!
ALAN HIRING CRONIES AND PAYING FOR ARTICLES.
I THINK WE ALL KNOW WHO IS BEHIND THE BIG SHORT OF HEMP NOW.
WON'T BE HARD TO FIND WHERE AND WHO TO SERVE THE CLASS ACTION COUNTER-SUIT.
INVESTORS SHOULD TAKE NOTE.
Don't go to "WRONG CALL" ALAN'S article. Only playing into his game.
Stay away. Don't fall into the "Special A" Trap!
Doesn't even bash away from it being a FULL-TIME JOB!!! COVERING QUESTIONABLE COMPANIES!!!!
BBBWWWWWAAAHAHAHAHAHA WHAT A LOSER!
Why did "WRONG CALL" Alan miss the '14 run?
PURE DISGUSTING PAID-FOR-BY-AUTHOR FILTH
How much did "WRONG CALL" Alan PAY Forbes for the AD SPACE?
Sad. They guy needs a little airtime and claims to be the cannabis industry's analytical "expert". HAHAHAHAHA, what a joke. No one is using his advice for anything.
I don't following the majority of his other "graveyard" companies, but he apparently does.... somehow there is an interest, or he would not have mentioned. Yet, he goes on to mention BRUCE'S companies MJNA and HEMP, not once, but TWICE!
Seems like the real fraud is actually the fraudster ALAN himself.
A walk through the Alan Brochstein "WRONG CALL" graveyard! YIKES!
What a tird. "I've seen some ups and downs", yeah like the ups HEMP INC saw while Nowhere-to-be-seen-since-Brochstein lost his pants on wrong call after wrong call. Now saying that there is "no real business"!!!
WHAT!!!??? What is Alan defining as real? Not the nearly $2 MILLION in 2018 revenue or the tens of millions in assets or the hundreds of millions in infrastructure development??
What a ginormous waste of bits, coolant, and cabling to house the servers necessary to make his lower-than-crap article available to the public.
Garbage, garbage, and more putrid garbage. Won't look at Forbes the same again, after letting that rabid weasel release filth upon the internet.
Please tell me I am in the Opinion section of Forbes, because why is that trash publicized on something that was once reputable business magazine!
The only thing accurate about that piece was the fact that his face is displayed right next to an appropriately placed image of the word "GREED", which is so fitting for "WRONG CALL" Alan.
I have more respect for maggot protruding from the fresh stool of dying opossum.
GARBAGE ARTICLE.
Sales have arrived and most likely not going to stop thanks to the Farm Bill.
That's a mighty fine opinion, but the industry has yet to depart "to the moon".
ACB, CVSI, TLRY, WEED and others did not "to the moon" along with the rest, especially the lower tiered stocks, such as CBD beer companies and rocky mountain hemp miners with "water rights".
https://investorshub.advfn.com/cannabis-stocks/
Which one, if any, is on the moon, or even close?
No, what happened is the lock on the gates was quickly intercepted by the FDA, who is now the overall authority on CBD hemp, the fastest growing sector in the world.
https://www.fda.gov/news-events/press-announcements/statement-fda-commissioner-scott-gottlieb-md-new-steps-advance-agencys-continued-evaluation
None-the-less, the industry continues to grow (literally and figuratively) and soon the FDA will weigh-in once again. Once the FDA gives the green-light, companies like Coca-Cola, Ben N' Jerries, Nestle, Bayer, Philip Morris and hundreds more all over the world will have the opportunity to stock their goods all over the shelves across America, the global leader in hemp-based goods consumption.
In time, good sir. In time.
Hemp Inc in three states, coast-to-coast, making a solid presence amongst hundreds of farmers. Oh, and they still have the largest decorticator in the western hemisphere, among other revenue generating ASSETS.
FLOODGATES
McConnell Leads USDA Secretary On Tour Of Kentucky Hemp Farm
Jul 2, 2019
Tom Angell Contributor
Mitch McConnell is all about hemp.
The Republican Senate majority leader has already successfully legalized the plant through last year's Farm Bill, pushed for hemp crop insurance provisions in disaster aid legislation and passed a resolution commemorating Hemp History Week last month.
And now he's personally leading the U.S. agriculture secretary on a tour of hemp facilities in his home state of Kentucky.
Sonny Perdue, who heads the U.S. Department of Agriculture (USDA), accompanied McConnell on a visit to the Commonwealth Extracts facility in Louisville on Tuesday, where the officials got a chance to see hemp-derived CBD products up close.
ABA Seeks Greater Clarity on Banks’ Ability to Serve Industrial Hemp Businesses
JUNE 24, 2019
In a letter to the heads of the financial regulatory agencies on Friday, the American Bankers Association called for greater clarification on how banks may serve businesses dealing with hemp—a low-THC strain of marijuana that was removed from the Controlled Substances Act by Congress as part of the 2018 Farm Bill.
Despite this legislative action, regulators have yet to issue a clear directive on distinguishing legal hemp and illegal marijuana, leaving many banks uncertain about whether they can legally serve these businesses, ABA noted. “Banks want to serve their communities and support their local economies but need clear, unequivocal assurance from their regulators that hemp is distinguishable from cannabis, and that serving the industry will not expose them to criminal and civil liability, or regulatory censure.”
ABA asked regulators to confirm that hemp is no longer considered a controlled substance and that banks do not need to file suspicious activity reports solely because a transaction relates to hemp or hemp-related products. The association also called for guidance on retail products containing hemp or hemp-derived CBD and the appropriate procedures for sourcing those products back to legal processors.
Source: https://bankingjournal.aba.com/2019/06/aba-seeks-greater-clarity-on-banks-ability-to-serve-industrial-hemp-businesses/
FDA to provide update on CBD review by late summer or fall, official says
Published 22 hours ago
Federal health regulators say they’ll update the hemp industry on their CBD review by late summer or fall.
Dr. Amy Abernethy, who leads the U.S. Food and Drug Administration’s work group on cannabinoids such as CBD, said Friday the agency is “enthusiastic about research into the therapeutic benefits of CBD products but also need to balance safety.”
She added the public has until Tuesday to weigh in on how CBD should be allowed in foods and dietary supplements.
“We plan to report on our progress around end of summer/early fall,” she wrote on Twitter.
The FDA has made no promises about expanding CBD access. But the agency has said it is open to changes and started its review May 31.
Source: https://hempindustrydaily.com/fda-to-provide-update-on-cbd-review-by-late-summer-or-fall-official-says/
Don’t hobble hemp over shoddy science in law enforcement
DREW C. WILSON | TIMES FILE PHOTO
Posted Friday, July 12, 2019
State lawmakers might hamstring North Carolina’s ascendant hemp farming industry because police can’t yet reliably tell the difference between hemp and marijuana.
The 2019 farm bill has been amended to ban the manufacture, sale and possession of smokable hemp following a late-May memo from the State Bureau of Investigation warning that the newly legal product is indistinguishable from its still outlawed cannabis cousin.
President Trump signed a bill last fall that rescinded a federal ban on hemp cultivation, making the plant legal to grow and possess nationwide where state-level legislation doesn’t prohibit it. The N.C. General Assembly, which had already allowed a hemp pilot program, is working to establish a regulatory framework.
The working draft of Senate Bill 315 now prohibits smokable hemp, defined as “hemp buds, hemp flowers, whole or ground raw hemp plant material, hemp cigars and hemp cigarettes.” Law enforcement groups lobbied for the change, and farmers are lobbying against it.
“Hemp and marijuana look the same and have the same odor, both unburned and burned,” the SBI memo states. “This makes it impossible for law enforcement to use the appearance of marijuana or the odor of marijuana to develop probable cause for arrest, seizure of the item or probable cause for a search warrant.”
Why is smokable hemp an issue? The plant is grown not only for fibers used to make rope and paper; increasingly, it’s being cultivated for CBD — a non-intoxicating compound with some therapeutic properties. CBD oil can be consumed as a tincture or in capsules, but smoking hemp buds delivers the cannabidiol to the bloodstream faster. Those who use CBD medicinally say that matters.
While the marketing has outpaced the science and some advocates tout CBD as a cure-all, there is peer-reviewed research showing it reduces seizures for child epilepsy sufferers and combats insomnia. Dr. Peter Grinspoon of Harvard Medical School writes that more study is needed to declare it an effective treatment for chronic pain. However, the compound is not harmful and can’t be abused.
Hemp is not psychoactive, but it does contain trace amounts of THC — not enough to get anyone high, but enough to trigger a false positive in marijuana field tests.
About those tests: Police use reagents, or compounds known to react with specific chemicals, to detect the presence of drugs including marijuana, cocaine, heroin and methamphetamine. An acidic solution is supposed to turn blue, for example, when it comes into contact with cocaine. Trouble is, non-narcotic substances can and do produce similar reactions.
Perhaps the most infamous case occurred in December 2015 when a Florida driver was arrested because a test kit mistook a couple globs of Krispy Kreme doughnut glaze for meth. After laboratory testing cleared the hapless motorist, he received a $37,500 settlement for the indignity he endured.
“Every year at least 100,000 people nationwide plead guilty to drug-possession charges that rely on field-test results as evidence,” a July 2016 New York Times Magazine story reported. “At that volume, even the most modest of error rates could produce thousands of wrongful convictions.”
Field test results aren’t admissible in court — to secure a drug conviction when a defendant goes to trial, evidence is sent to an accredited lab. The roadside tests are a high school chemistry experiment at best and junk science at worst.
Instead of banning non-narcotic plant products because test kits can’t distinguish between hemp and pot, lawmakers should work to solve the larger problem of shoddy forensics on the front lines of law enforcement. After all, civil liberties watchdogs would be wise to argue that many of the current field tests — not just those for marijuana — fail to provide legitimate probable cause.
If scientists figured out how to split atoms, edit the human genome and clone sheep, surely they can engineer an accurate way for officers to identify common street drugs. The SBI has flagged a temporary technological shortcoming. That may be an excuse to outlaw harmless hemp, but it’s not a valid reason.
Growers say industrial hemp could add $100 million to the state’s economy. It could be transformative for distressed eastern North Carolina counties and lucrative for farmers long stymied by tobacco’s decline.
The General Assembly ought to leave smokable hemp alone. This cash crop holds vast promise for Tar Heel State agriculture and it’s time to step on the gas, not pump the brakes.
Source: http://www.wilsontimes.com/stories/dont-hobble-hempover-shoddy-sciencein-law-enforcement,183089
FDA Says It Is Speeding Up The CBD Regulation Process
Published on July 13, 2019
By Kyle Jaeger
The Food and Drug Administration (FDA) said on Friday that it was “expediting” its efforts to develop rules for CBD and plans to issue a report on the department’s progress by early fall.
FDA Acting Chief Information Officer Amy Abernethy tweeted that “FDA is expediting its work to address the many questions about cannabidiol (CBD),” describing it as “an important national issue with public health impact, & an important topic for American hemp farmers and many other stakeholders.”
“We are enthusiastic about research into the therapeutic benefits of CBD products but also need to balance safety,” she said. “To understand the breadth of issues and gather data on safety we have conducted a public hearing, reviewed the medical literature, and have an open public docket.”
The FDA public hearing on May 31 involved testimony from numerous industry stakeholders and policymakers, who emphasized the importance of developing regulations so that hemp-derived CBD products could be lawfully marketed as food items and dietary supplements.
Because CBD exists as an FDA-approved drug and hasn’t previously been added to the food supply, former FDA Commissioner Scott Gottlieb said that the rulemaking process to create an alternative regulatory framework could take years without congressional action.
Sen. Ron Wyden (D-OR) said in a letter to the agency last month that their timeline is “fully unacceptable” and urged FDA to speed up the process.
Senate Majority Leader Mitch McConnell (R-KY), who helped federally legalize hemp and its derivatives through the 2018 Farm Bill, echoed that point in a meeting with FDA Acting Commissioner Ned Sharpless.
There are still a few more days before the deadline for the public and stakeholders to weigh in with FDA regarding the health and safety risks, manufacturing and product quality and marketing standards of CBD, Abernethy said, urging people to “submit comments & data by 7/16/19.”
“We plan to report on our progress around end of summer/early fall,” she said.
David Mangone, director of government affairs at Americans for Safe Access, offered some tips on how to best submit comments to FDA in a video link in an email to the organization’s supporters on Friday. He also talked to Marijuana Moment in April about best practices for submissions.
Separately, another FDA official will keynote a major hemp industry conference in August, where questions about the status of department rulemaking on CBD will likely be a main focus.
The U.S. Department of Agriculture, another federal agency playing a key role in regulating CBD post-Farm Bill, said it plans to issue an interim final rule on the compound next month.
Source: https://www.marijuanamoment.net/fda-says-it-is-speeding-up-the-cbd-regulation-process/
Washington hemp industry grows, but not as fast as Oregon's
By DON JENKINS Capital Press
SALEM — The number of licensed hemp farmers in Washington has more than doubled since May, according to the state Department of Agriculture.
As of Tuesday the department had issued licenses to 87 growers, compared with 35 in late May. The state has issued another 18 licenses to processors. Many farmers have combination licenses to grow and process hemp.
The department is reviewing about 30 more applications and expects to eventually issue approximately 150 hemp-related licenses this year, spokesman Chris McGann said.
Washington’s hemp industry is still small compared to several states, including Oregon. The growth, however, firms up a once-shaky program. Washington’s hemp crop last year was 140 acres cultivated by the Colville tribe in northeast Washington.
This year, farmers have registered to plant 6,700 acres, not counting greenhouses. Several large Eastern Washington farms have obtained hemp licenses.
McGann said the department anticipates the hemp program will become self-supporting. Lawmakers this spring sent the department $212,000 to avoid massive increases in license fees paid by farmers.
“We don’t expect to have to go back to the Legislature,” McGann said. “All expectations are, yes, it will be sustainable.”
The 2018 Farm Bill took hemp off the federally controlled substance list. The federal government still requires states to license and inspect hemp farms.
Oregon has added 300 licensed hemp farmers in the past seven weeks and now has 1,642, according to the Oregon Department of Agriculture. Farmers have registered to plant 53,573, almost a fivefold increase over last year when the state licensed 584 growers.
The USDA is expected to propose national hemp regulations in the fall. Agriculture Secretary Sonny Perdue said after touring a Kentucky hemp farm July 2 that the crop’s connection with marijuana has not been entirely severed yet.
“I think what I heard was a lot of opportunity, but a lot of challenges needing a federal framework to help guide the progress of this crop,” he said. “We heard about financial transaction issues where this crop is conflated with its illegal cousin in many states.”
Industrial Hemp Association of Washington lobbyist Bonny Jo Peterson said the state’s first full-fledged hemp season has been marked by “mishaps and hiccups” as farms try to find the right seeds and equipment.
“I think too many farmers went too big, too quick,” she said. “There’s going to be a lot of trial and expense and unfortunately a lot of lost crop.
“If you’re not ready to go now, wait until next year. Learn from other people’s experiences.”
Peterson said farmers who plan carefully will be in better position to survive if the CBD oil boom busts. CBD oil is marketed for a wide variety of ailments. The Food and Drug Administration is examining claims about the extract’s benefits.
Washington collects an annual $450 application fee from hemp farmers, plus $300 for a one-year license. Farmers must pay another $200 for each additional field, plus testing fees.
The Washington Department of Revenue has said it will tax hemp like any other agricultural product. Hemp growers are eligible for tax breaks available to other farmers, according to the department.
Source: https://www.eastoregonian.com/news/state/washington-hemp-industry-grows-but-not-as-fast-as-oregon/article_c6d452b2-6608-5742-86f2-e3463c04f087.html
Hemp Energy: Is Industrial Hemp The Ultimate Biofuel Crop?
07/13/2019
William Stash Jones
When we look at the progress of humanity, there’s no doubt that oil and coal have played a crucial role. But there are many problems associated with these fossil fuels, such as resource wars, climate change, pollution, etc., so their continued use could also lead to the demise of humanity. While in past years the biggest concern was that fossil fuels are running out, today the main issue lies in the damage they’re wreaking on the planet.
While one part of this dilemma was addressed by the appearance of electric vehicles, the future of transport still requires some liquid and solid fuels. That’s why renewable energy has become mandatory, and its currently fastest growing source is bioenergy. The only way to decrease dependency on depleting fossils is to cultivate energy crops on arable land, which can also mitigate climate change. Nevertheless, there are bad environmental effects even among biofuel crops – some create more emissions then they save, some use too much water, etc. So the real demand of today is for high-yielding energy crops which have a low environmental impact, and industrial hemp just might be the thing. The enthusiasts have been promoting industrial hemp as the ultimate biofuel crop for a long time now, so let’s see if there’s more in it than sheer enthusiasm.
The Superiority And The Obstacle
What makes hemp not only equal but superior to other available energy crops is its suitability to fit into existing crop rotations and its potentially high biomass yield. This plant originates from India and western Asia, but today it’s spread all around the globe. Its seeds have been used for centuries to produce protein-rich food, while its fibers were used to make paper, cloth, sails, and ropes. This means that hemp is a solution that’s both versatile and ancient. When other fibers such as jute and sisal replaced hemp in the 19th century the interest for it declined, but that doesn’t mean it’s not still a solution to many problems of today. The real obstacle came with abuse of hemp as a drug which has lead to the prohibition of its cultivation in 1961 by the United Nations. Nevertheless, this prohibition was revoked in the 1990’s, first in European Union and Canada and later in Australia, and the industrial hemp has emerged again.
The Resurrection Through The Car Industry
The thing that largely influenced the resurrection of industrial hemp and promoted its use was the interest of the car industry in natural and light fiber. That’s mainly what has led to the growth of modern varieties of hemp with insignificant content of psychoactive compounds for industrial use. Of course, the above-mentioned potential for higher biomass yield was the most important factor. With its ability to produce more than 800 liters of bio-diesel per hectare a year, hemp brings a much greater yield compared to other crops commonly used for biodiesel production such as rapeseed, peanut, sunflower, or soybean. Additionally, the rest of the plant also has the potential to produce solid fuels, biogas, ethanol, and methanol. Besides the fact that it meets the EN 14214 and ASTM D6751 standards for quality, hemp biodiesel is a fuel that is superior to other plant-based products. The only area where it doesn’t outperform conventional diesel is oxidation stability, but that can be easily addressed with the addition of anti-oxidants.
All this strongly suggests the large-scale energy uses of hemp. Its biogas production can easily compete with the one from maize, especially when it comes to cold climate regions such as Canada and Northern Europe. While biodiesel can be produced from the oil which is pressed from hemp seeds, ethanol production is possible from the whole plant. Furthermore, biodiesel produced from hemp seed oil has a much lower overall environmental impact than fossil diesel. The fact that the environmental benefits of hemp are praised highly has a strong foundation since only very limited amounts of pesticide are required for its cultivation. Fungal diseases are a rarity concerning hemp crops and insect pests are nearly non-existent.
The Importance of Good Agricultural Practice
What is particularly interesting for organic farmers is that hemp plants can outgrow weeds due to the fact that they shade the ground quickly after sowing. Nonetheless, that doesn’t mean that weed-free seedbed is not required. And in order to allow hemp to grow vigorously nitrogen fertilization is mandatory. This means that growing hemp right requires good agricultural practice as with any other crop. But it functions very well in crop rotations since it’s an annual crop – it can reduce the occurrence of pests and function as a break crop. And thanks to its high self-tolerance the cultivation of hemp up to three years in the same filed won’t result in significant biomass yield losses. However, while small-scale production of hemp has been proven economically feasible, using whole-crop hemp is not an overall solution for energy production, but that’s the case with any other crop.
Despite all of the mentioned advantages of hemp, sustainable bioenergy production requires a diversity of crops. But still, as far as the biofuel is concerned, cultivating industrial hemp on good soil and with decent fertilization can make it the ultimate crop for the occasion.
Source: https://www.occnewspaper.com/hemp-energy-is-industrial-hemp-the-ultimate-biofuel-crop/
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NASDA Wants FDA to Move Quickly on Hemp Oversight
7/12/2019 | 3:55 PM CDT
By Chris Clayton, DTN Ag Policy Editor
The National Association of State Agriculture Directors (NASDA) has written the Food and Drug Administration "to expeditiously create a clear regulatory framework for hemp products."
NASDA stated the industry needs a regulatory system all of the states can follow. NASDA was commenting on an FDA public hearing and submission of comments about "the safety, manufacturing, product quality, marketing, labeling and sale" of products containing cannabis and cannabis-derived products.
Cannabidiol oil (CBD) is a growing market with at least one recent analysis projecting CBD sales could go above $20 billion by 2024 for industries including cosmetics, health products, food, beverages, pet products, skin care and pharmaceuticals.
Citing the extremely high interest in the hemp industry, NASDA pointed out hemp will only become economically viable if there is a well-defined framework for products from hemp. "Consistency will be a key factor for the development of a market for this emerging industry," NASDA stated. With that, NASDA wants FDA to provide clarity and certainty.
If FDA doesn't draft a regulatory regime then states will be required to develop regulations for products, which would create a patchwork, NASDA said.
Regarding the health claims and safety of CBD products, NASDA wrote that its members have received numerous questions around issues such as age restrictions and how some products may interact with pharmaceuticals. "It seems like there is a lack of information around those issues in the marketplace, so NASDA encourage FDA to work with manufactures to gather the data, and potential create funds for more research in this space."
NASDA also stated there is confusion about terms such as hemp oil, CBD, extract, etc. Each of these terms are being used with no clarity, NASDA stated.
NASDA's full comments can be found at
Hemp production was also a focus at the BIO World Congress in Des Moines where concerns were raised about the need for FDA to get the regulatory rules correct. Speakers also indicated USDA would likely have to wait until 2020 to start approving state plans for oversight of hemp production.
The concerns over the risks of testing with levels of tetrahydrocannabinol (THC) in hemp. Under the farm bill, THC must test under .3% in dry weight levels. John McKay, a founder of New West Genetics, said it was possible through breeding and gene editing to create zero THC hemp varieties that would greatly
"Even for grain, to know the crop that it came from never contained THC is quite attractive to the ingredient and consumer product companies," McKay said.
Trey Riddle, founder and CEO of the Kentucky-based Sunstrand LLC, discussed the rate of return growing hemp for fiber. He compared the revenue to roughly a farm operation growing 175 bushels of corn at $5 a bushel. Agronomic wise, Riddle said the biggest challenges right now for fiber hemp are weeds and the genetics coming largely from Canada right now aren't quite optimal for some other growing environments.
While CBD remains the dominate use for hemp right now, Riddle also pointed out companies such as Wrangler and Patagonia want to start producing clothing out of U.S. hemp fiber.
Source: https://www.dtnpf.com/agriculture/web/ag/blogs/ag-policy-blog/blog-post/2019/07/12/nasda-wants-fda-move-quickly-hemp
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FDA Official To Keynote Major Hemp Industry Conference Next Month
Published 8 hours ago on July 12, 2019
By Kyle Jaeger
A Food and Drug Administration (FDA) official will be a keynote speaker at a hemp industry event next month.
Lowell Schiller, who serves as FDA’s principal associate commissioner for policy, will deliver a keynote address at the National Industrial Hemp Council’s 2019 Business Summit on August 13, according to a press release. The speech is being billed as the agency’s first public presentation since it held a much-anticipated hearing on CBD regulations in May.
The description of the conference keynote speech doesn’t go into detail about what will be discussed, but when it comes to the FDA and hemp businesses of late, it’s a safe bet that this conversation will revolve around CBD.
Specifically, stakeholders have been pressing the department for updates on creating a regulatory framework that allows for hemp-derived CBD to be lawfully marketed as a food ingredient or dietary supplement.
FDA heard that message loud and clear during their public meeting on CBD in May. Multiple industry representatives and policymakers testified before department officials about their desire to unleash the market’s potential by responding to the widespread demand for CBD products since the 2018 Farm Bill federally legalized the crop and its derivatives.
Congressional lawmakers have been adding their voices to that end as well. For example, Sen. Ron Wyden (R-OR) sent a letter to FDA last month urging the department to speed up the development of CBD regulations.
Former FDA Commissioner Scott Gottlieb tried to temper expectations by noting the challenges that the department faces in creating an alternative regulatory pathway for CBD products. Because the compound exists as an FDA-approved drug in the form of the prescription medication Epidiolex and has never been authorized to be added to the food supply, it may take legislative action for it to be lawfully marketed, the commissioner said. Otherwise, the rulemaking process may take years.
It’s a topic that Senate Majority Leader Mitch McConnell (R-KY), who championed the hemp legalization provision of the Farm Bill, has been especially vocal about. He met with Acting FDA Commissioner Ned Sharpless last month to discuss the need for clarification from the department on producing and selling CBD products.
Besides FDA’s Schiller, the hemp conference will also feature a keynote from the senior vice president of agricultural and rural banking policy at the American Bankers Association (ABA), Ed Elfmann.
His address will cover the “rift between federal and state law” that has “left banks trapped between their mission to serve the financial needs of their local communities and the threat of federal enforcement action,” according to a press release.
Source: https://www.marijuanamoment.net/fda-official-to-keynote-major-hemp-industry-conference-next-month/
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