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Marijuana lowers demand for Rx Drugs
Legalizing marijuana lowers demand for prescription drugs, study finds
“The reductions in drug utilization that we find could lead to significant cost savings for state Medicaid programs. The results also indicate an opportunity to reduce the harm that can come with the dangerous side effects associated with some prescription drugs,” one researcher said.
By Adam Barnes | April 18, 2022
Story at a glance
Cornell University researchers analyzed data from the Centers for Medicare and Medicaid Services in all 50 states from 2011 to 2019.
They found a decline in the volume of prescriptions targeting pain, depression, anxiety, sleep, psychosis and seizures in states that have legalized recreational use.
Thirty-seven states and the District of Columbia currently permit the use of medical marijuana with a prescription.
Access to marijuana via legalization lowers demand for expensive prescription medications through state Medicaid programs, according to a new study.
Cornell University researchers analyzed data from the Centers for Medicare and Medicaid Services in all 50 states from 2011 to 2019, finding a decline in the volume of prescriptions targeting pain, depression, anxiety, sleep, psychosis and seizures in states that have legalized recreational use.
“These results have important implications,” Shyam Raman, a doctoral student in the Cornell Jeb E. Brooks School of Public Policy, said in a news release.
“The reductions in drug utilization that we find could lead to significant cost savings for state Medicaid programs. The results also indicate an opportunity to reduce the harm that can come with the dangerous side effects associated with some prescription drugs,” Raman added.
Raman conducted the research, which was published April 15 in the journal Health Economics, with Indiana University doctoral student Ashley Bradford.
They noted the decreasing volume of prescription medications might be influenced by a decline in patients’ primary care visits when they use marijuana to treat conditions.
Thanks for the information
I have had the same thing happen many times when MM will not let you hit the ASK, they fill order lower which is ok, but it looks like a sell to BID.
Absolutely, well said
Traders flip probably 2/3 of more of the daily volume, especially if you count all the MM double counts.
Fundamental are really improving and that is what I follow, not the price volatility.
Just like the last BID whack of 5000 share for $8 bucks to try and get it to close down. LOL
Going for another 50 MILLION, LOL
Thank you, thank you, thank you.
Huge year coming, hope they push it lower, LOL
Still #1 on IHUB Breakout Board, Amazing!!
Lot of new eyes on us, let them do some DD before they start chasing!!
https://investorshub.advfn.com/boards/breakoutboards.aspx
PVSP Twitter: What a Quarter! Congratulations!
Pervasip Corp.
@PervasipC
·
1h
Hello $PVSP shareholders:
What a quarter! Congratulations!
pervasip.net
$PVSP
Pervasip today announced $124,221 AND 178% GROWTH IN GROSS MARGIN
https://twitter.com/pervasipc?lang=en
That is shaky on the ASK as usual, LOL
Mr. flipper looking for a few crumbs, hate to see his tax bill for all those flips, LOL
Key Highlights: 50% yield increase in Yields!!
The Company partnered with a national cultivation group in its effort to upgrade all facilities and grow SOPs with an objective to increase per square foot output by 50%
Washington’s largest public utility agreed to provide energy rebates to upgrade grow lighting to state of the art LED equipment with close to one million dollars ($1 million) in rebates over the next 12 months
Quarter over quarter EBIDTA has increased from ($649,831) to $124,221
Revenue increased by 2.4% in a post pandemic market that saw revenues decrease by 12% in Washington State
Inventories have increased to $4,321,512 and provide the power to support revenue growth for Q2, while allowing gardens to continue to increase per square foot yields in anticipation of continuing strong growth in Q3 and Q4
A six-month upgrade to the Port Townsend greenhouse cluster was completed end of February and positive yield and quality improvement results will start to be recognized in the second quarter
The company wide restructuring that started in October 2021 was completed by end of February resulting in over a million dollars in operating expenses saved with positive cashflow impacts to be realized in the third and fourth quarter this year
“While focused on structuring our business for success and improved efficiencies, our team has also done incredible work advancing our plans with KRTL Biotech for brand expansion into adjacent wellness markets, developing a new cannabis brand, and expanding the Artizen brand’s network of retail customers. We have moved the entire organization off proprietary software systems and moved to off-the-shelf, third party supported applications, launched system-wide upgrades to our facilities, which are already yielding results in the form of increased flower quality and yield, and all this in less than 5 months.”
Positive EBITDA and Growing like Mad!!
Positive 1ST Quarter EBITDA of $124,221 and 178% Growth in Gross Margin
Pervasip today announced the filing of its unaudited financial statements for its 1st Quarter ended February 28, 2022, showing positive EBITDA and material improvement to Gross Margin
“Our team has executed the first half of our restructuring plans flawlessly over the past few months and improved gross margins, achieving positive EBITDA and quarter over quarter revenue growth"
SEATTLE, WASHINGTON, APRIL 18, 2022
Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, today announced the filing of its unaudited financial statements for its 1st Quarter ended February 28, 2022.
As outlined in the 2022 shareholder letter, Pervasip launched a system wide restructuring after hiring new CEO & President German Burtscher and CFO George Jordan in Q4 2021. Adjusted for a onetime expense recognition of $176,246 in annualized severance payments, and $270,571 in depreciation EBITDA for Q1 equals $124,221 with 39% in Gross Margins. This marks a material improvement compared to the period ended February 28, 2021, which equaled ($649,831) in EBITDA and 23% in gross margins.
Key Highlights
The Company partnered with a national cultivation group in its effort to upgrade all facilities and grow SOPs with an objective to increase per square foot output by 50%
Washington’s largest public utility agreed to provide energy rebates to upgrade grow lighting to state of the art LED equipment with close to one million dollars ($1 million) in rebates over the next 12 months
Quarter over quarter EBIDTA has increased from ($649,831) to $124,221
Revenue increased by 2.4% in a post pandemic market that saw revenues decrease by 12% in Washington State
Inventories have increased to $4,321,512 and provide the power to support revenue growth for Q2, while allowing gardens to continue to increase per square foot yields in anticipation of continuing strong growth in Q3 and Q4
A six-month upgrade to the Port Townsend greenhouse cluster was completed end of February and positive yield and quality improvement results will start to be recognized in the second quarter
The company wide restructuring that started in October 2021 was completed by end of February resulting in over a million dollars in operating expenses saved with positive cashflow impacts to be realized in the third and fourth quarter this year
“While focused on structuring our business for success and improved efficiencies, our team has also done incredible work advancing our plans with KRTL Biotech for brand expansion into adjacent wellness markets, developing a new cannabis brand, and expanding the Artizen brand’s network of retail customers. We have moved the entire organization off proprietary software systems and moved to off-the-shelf, third party supported applications, launched system-wide upgrades to our facilities, which are already yielding results in the form of increased flower quality and yield, and all this in less than 5 months.”
https://www.bloomberg.com/profile/person/1790944
Nice
News: Positive 1st QTR EBITDA of 124k 178% Growth
Riss Twitter: $PVSP NEWS Monday
Paul Riss
@PaulRiss
Watch for $PVSP news before the open on Monday. I am very pleased with the management team.
5:45 PM · Apr 16, 2022·Twitter Web App
Watch for $PVSP news before the open on Monday. I am very pleased with the management team.
— Paul Riss (@PaulRiss) April 16, 2022
Cannabis Sales in NJ start April 21, YES
NJ Cannabis Sales could top $1 Billion
TRENTON - New Jersey will officially begin selling marijuana on Thursday, April 21, at up to 13 currently-operating medical marijuana dispensaries approved by the New Jersey Cannabis Regulatory Commission this week.
Under state law, any adult over 21 years old can purchase up to 1 ounce of legal weed for personal use.
“This is an exciting time for New Jersey,” New Jersey Cannabis Regulatory Commission executive director Jeff Brown said. “New Jerseyans voted overwhelmingly to have access to adult-use cannabis and it is now here. I am very proud of the work the Commission has done over the past year to open the market.
"We have been intentional and deliberate to do everything in our power to set the market on good footing to start.”
Industry experts believe the New Jersey cannabis industry could eventually top $1 billion, with even more spoils if the state beats its northern neighbor, New York, to retail adult use sales.
Brad Hare, CEO of Mammoth, owns 5% of PVSP
Brad Hare is CEO of Mammoth, our largest lender is also a significant owner of PVSP with 5% stake.
Not only is he actively lending PVSP money, he liked the company so much, that he took a 5% equity stake. Must like what he see's !
Not a single share of dilution still 4,979,231,963
Not a single share of dilution, the outstanding common shares are still listed as 4,979,231,963, which is exactly what it was on the merger September 1, 2021
Lot of good information as the restructuring is nearly completed. 2022 and 2023 are going to be HUGE for the company and cannabis.
Riss BUYS 23M shares in open market!!
Paul twitter message said he was allowed to buy in market now, and looks like he did exactly that, good for his word.
Someone believes the prices is going HIGHER!!!
He now owns 315,044,925 which is 6.4% of the Common Stock!!
Also note that Brad Hare, CEO of Mommoth, and our largest lender own 5% of the company, he also likes what he sees.
Early Close Today, Markets Closed Friday
Monday we get Qtr Report is my guess
Cleaning up the Balance Sheet
No fun, but it has to be done.
Some of this Debt was prior to the Artizen Deal as well as the $1.5M debt that was owed to prior CEO Paul Riss, which he settled for .01 and 150M shares which was great for the company.
Just a matter of time to get the remaining debt eliminated and we will get our new Name change and up listing on the OTCQX with our new audited financials!
JJ what are you talking about?
Nothing crooked about the trading, PVSP is cleaning up the balance sheet, getting that old debt off the books for a clean balance sheet going forward.
Should be over soon, then BAM, we will be back to .003 in one day, mark my words on this, stock price is going to ZOOM once the conversion pressure is done.
7.4M Converted .0015
MM made their 1 tic for their trouble, seems fair.
We may be seeing a push to get the conversions done before qtr report issues any day now, most likely tomorrow, the 14th, we shall see.
Great price for sure, got a nice chunk of shares today, I am happy camper!!
Market Cap 8.9M at .0016, 50% of Revenue. LOL
Impossible to be be valued at 50% of current revenue for an extended time, and with projected revenue of $38M next year, we would be at 25% of Revenue.
10 x Revenue is standard valuation and as low as 3 x times if you carry a lot of debt.
Like they said in "Jaw", Can't stay down long, not with 3 barrels on him!! LOL
Huge News: How Magic Mushrooms Work!
We May Finally Know How Magic Mushrooms
Work to Relieve Depression
CLARE WATSON 11 APRIL 2022
For many people with treatment-resistant depression, in recent years hope
has been offered by psychedelics such as psilocybin, the key active ingredient
in magic mushrooms. It appears that psychedelics may 'flip the switch' on
rigid brain networks, but we haven't been entirely sure how that works.
Now, new brain mapping research from a leading group of psychedelics
researchers deepens our understanding of how psilocybin works in the brain,
first 'dissolving' and then expanding brain connections.
Certain parts of depressed people's brains became more interconnected and
flexible after two doses of psilocybin, and these changes lasted up to three
weeks after treatment, the study found.
"These findings are important," says neuropsychopharmacologist David Nutt
of the Imperial College London (ICL).
"For the first time we find that psilocybin works differently from conventional
antidepressants - making the brain more flexible and fluid, and less
entrenched in the negative thinking patterns associated with depression."
Many Indigenous peoples have long used magic mushrooms and other plants
for their healing and hallucinogenic properties.
In only the last two decades or so has there been a cautious resurgence in
clinical research, fronted by the researchers behind this latest study, to
understand whether psilocybin may help to alleviate depression and anxiety,
and how psychedelic drugs affect the brain more generally.
It just doesn't seem fair, it's too easy, LOL
Amazing that some people can't tell the difference from Value and Hype. Too many eye balls only watch the price movement, UP or DOWN to determine if they want to own a stock.
Once the price starts moving UP, they will jump in like a Black Friday Sale, LOL
Massive BID Whack - 300 shares for .51 cents
And you don't think the OTC is manipulated, LOL
PVSP News: Magic Mushroom Compound
Paul Riss, Chairman PVSP
Great development for $PVSP and KRTL (which currently is $QENC) 'Magic mushroom' compound creates a hyper-connected brain to treat depression https://livescience.com/magic-mushroom-psilocybin-treats-depression-brain #psychedelics $MNMD
Home News
'Magic mushroom' compound creates a hyper-connected brain to treat depression
By Nicoletta Lanese published about 19 hours ago
Psychedelic helped people with depression break out of rigid, negative patterns of thinking.
NEWSLETTER Cannabis banking listed as ‘priority’
Cannabis banking listed as ‘priority’ heading into negotiations (Newsletter: April 12, 2022)
Marijuana Banking Push Set To Be Revived As Congressional Leaders Appoint Negotiators On Large-Scale Manufacturing Bill
Published 14 hours ago on April 11, 2022By Kyle Jaege
With congressional leaders appointing key lawmakers to negotiate the final form of a broad manufacturing and innovation bill in recent days, many advocates and stakeholders are hopeful it will be the vehicle to finally enact protections for banks that work with state-legal marijuana businesses—as the House included in its version of the large-scale legislation that’s now heading to a bicameral conference committee.
Already, there are signs that the bipartisan Secure and Fair Enforcement (SAFE) Banking Act could be a focal point for negotiators, with the chairwoman of the House Financial Services Committee on Monday listing the bill as one of her panel’s legislative “priorities” as lawmakers move closer to conference.
The measure’s sponsor also emphasized that a strong majority of members appointed to the conference committee have already either cosponsored or voted for marijuana banking legislation in the past.
Rep. Maxine Waters (D-CA) didn’t explicitly say how hard she would fight for the cannabis measure’s inclusion in the final package in her capacity as a conferee, but she made a general comment about how Democrats have pushed for policies meant to maximize economic impact and said that cannabis banking reform would both support state markets and provide public safety protections.
“Cannabis businesses are currently forced to operate on a cash-only basis, which has created a serious public safety risk for employees, businesses and communities, as well as providing opportunities for tax evasion and money laundering,” the press release from Waters’s committee says.
Big congratulations to Artizen Cannabis
Sean Stockington
@SStockington
·
Apr 7
Big congratulations to Artizen Cannabis
@artizencannabis
and its Dutchberry strain on winning the
@LiveDockside
3rd Annual Dockside Cup! Clearly many people recognize this company has quality products! $PVSP
@PervasipC
https://twitter.com/search?q=%24PVSP&src=cashtag_click
Raise you bids, force it UP. LOL
Smart Money, LOL
How can you call yourself converter, LOL
Looks like you don't understand how MM handle conversions.
Those 1m share at .0017 are MM shorting to the BID and the 7M trade in purple on tape is the covering with the conversion shares they have, and they make a tic for their trouble. LOL
There is the conversion cover 7M shares
Getting closer to debt free everyday. 7M shares were shorted by MM and then covered with 7M of conversion shares, for 14M volume of the total daily 21M.
Only 7M actually traded, there are no sellers.
3.8 Billion shares in the float available to trade and only 7M traded, LOL
The Final Four: Artizen Dutchberry voted #1 Flower!
The people have spoken!
https://stocktwits.com/symbol/PVSP
No one is selling, just final conversion shares
Looks like we got them done early today, 5M is my guess for today.
Remember something, every single shares is getting purchase by Smart Money, every single share.
Getting that old debt cleaned up is essential to securing more shareholder friendly funding in the future as it may be needed to accelerate new expansion in the future as prices are dirt cheap for cannabis companies right now!
They like to Cover the Conversion .0016
You can see the Short sale in 1m share blocks, little over 4M today don't know how Mammoth can have much left, they have been selling since 4/7/2021.
Last Debt Coverted was 8/26/21 for total of 212M shares so that has to be done soon, it has been nearly 8 months with average of 80M shares a month, 4M x 20days.
Real trading volume is 8M less than tape shows with the Short and later cover with the converted shares.
At least all the old PVSP debt will be gone.
Oh yea, same here, great deal
Lot of Buying at the ASK yesterday until the last few minutes when MM wanted in down to .0017, so they could convert the shares they shorted on the ASK, they got them at .0016 After Hours, Form T, 3,592,722 shares.
They like to make money on the conversion too.
We are busy BUYING shares, LOL
They keep trying to push in down and it keeps biting them.
CEO statement implies Audit Financials April
2/1/2022
"We expect to file our consolidated financial statements next month (March) using the alternative reporting requirements of OTC Markets, and to follow up shortly thereafter with our PCAOB audited financials."
April 14 could be the Audited Financials
2/1/2022
"We expect to file our consolidated financial statements next month (March) using the alternative reporting requirements of OTC Markets, and to follow up shortly thereafter with our PCAOB audited financials."
Newsfile Corp.
February 1, 2022·4 min read
Seattle, Washington--(Newsfile Corp. - February 1, 2022) - Pervasip Corp. (OTC Pink: PVSP) ("Pervasip" or the "Company"), a developer of companies and technologies in high value emerging markets, today announced that it is in the process of completing the annual audit of its financial statements.
Pervasip hired a national independent registered public accounting firm, Marcum LLP, to audit in accordance with the standards of the Public Company Accounting Oversight Board ("PCAOB") 3 years of financial results for all entities associated with newly acquired Artizen Corporation, which will allow Pervasip to issue consolidated audited financials for the newly combined companies.
"We have engaged with Marcum LLP to provide a first ever financial audit for the operating companies that comprise Artizen Corporation.
We expect to file our consolidated financial statements next month using the alternative reporting requirements of OTC Markets, and to follow up shortly thereafter with our PCAOB audited financials.
This is another step in our strategic plan to solidify our company's foundation, create transparency for our shareholders and organize for material growth in revenue and EBITDA over the next 24 months," said George Jordan, the company's Chief Financial Officer.
LOL it's 16M on BID
Nearly the entire days volume, LOL
House passes landmark marijuana legalization bill
PUBLISHED FRI, APR 1 20229:07 AM EDT UPDATED 29 MIN AGO
NBC NEWS
POLITICS
House passes landmark marijuana legalization bill
https://www.cnbc.com/2022/04/01/house-to-vote-on-bill-to-legalize-marijuana.html
Marijuana legalization Bill Passes House
As expected HR3617 has passed!
On to the Senate now