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Will have two licenses, are prepared to sell in Michigan if mj is declared legal federally, hemp is a market in itself and we have a hemp company, uplisting and finally research which could cause this to go up in and of itself. Finally we are 2nd on the Benzinga index lists, and people want to invest in MJ but are looking for solid company. I don't about .50 cents that would depend on the news. But .50 could be much higher then what it will be. However if day traders start to pump yes possible. But of course anything is possible.
Clearly if no licenses fitx stock will go down. So problem if denied will be immediate. Will tank. However, I believe there will be a license shortly. License equals a viable company. Period.
Remember tweed was six weeks, but after February there was a barrage of applications. Most of which did not pan out. Therefore we are in the next two weeks 7 and eight. Also remember we are going for two licenses. We will see something re license shortly. Dr. hang in their.
You are just about to be very right. .50 cannot say but money will be made.
If we do get the license within two weeks what do you think pps could go to. I know we are just speculating but would like you view.
Your right but first license. Hemp will bring us global quickly and also look for news on uplisting within 21 days after license. Thanks for the reply
You have explained why I will not invest with any who was in jail. Sorry but that's my belief.
I will stay with bill. It shows the need for hemp. We do not know what contracts bill is signing. Louie I believe we are on our way very shortly.
Interesting Article
Marijuana Index Closes at 3.30 - Dispensary License Logjam - How Compliance Improves Access to Capital
Accesswire
June 12, 2014 9:00 AM
Carlsbad, CA / June12, 2014 / Permits or licenses for medical marijuana dispensaries have taken center stage in marijuana business media as state and local governments adopt strict application processes for marijuana dispensary permits or licenses. Some entrepreneurs who have been shut out of their respective lottery or selection process without a license or permit have considered legal action against governing agencies, which Fred Dreier of Marijuana Business Daily warns against in most cases.
The recent House vote in favor of eliminating DEA enforcement efforts toward state-compliant dispensaries provides potential framework for federal legislation. It would appear that state-compliant operations which meet or exceed regulatory initiatives are no longer at risk of prosecution by the federal government. State or local governments who restrict the number of dispensaries will change the supply chain in favor of efficiency and scale - permitted dispensaries will cater to an extremely large and ever increasing patient population.
Having a state-compliant operation (or, licensed operation with Health Canada) significantly bolsters potential for equity capital, as it removes an additional layer of perceived risk between investor and issuer.
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"The Real Contenders" in Canada
In Canada, there are reportedly more than 600 applications in process for a medical marijuana license under the new laws. As only a handful of actual licenses have been issued, issuer "Tweed Marijuana" (TWD.V) is well positioned in a Canadian market believed to garner more than 400,000 patients. Their $15 million bought deal financing illustrates a level of comfort with investors and sets a precedent of capital formation for other industrial scale producers in Canada who receive a license from Health Canada. James West of Midas Letter reports that Tweed Marijuana has few peers as far as Canadian marijuana stocks are concerned.
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Recent US-Based License Recipient
In the US, GrowBLOX Sciences (GBLX) announced that it's wholly owned subsidiary GB Sciences Nevada, LLC obtained a medical marijuana license in Clark County, Nevada. Commissioners only awarded 18 licenses out of 79 final applicants - a three day hearing was conducted in order to make the selections after an unorthodox process which included 6-minute "pitches" to decision makers. Several "high-profile Nevadans" were among those receiving the limited number of licenses.
In addition to receiving a medical marijuana dispensary license in Nevada, GrowBLOX Sciences announced an LOI with First Security Bank of Nevada in a deal where GrowBLOX and First Security would implement a revolutionary cash management system via kiosk. The company hopes to demonstrtate compliance and transparency for their Clark County location and possibly the industry; the LOI appears to be the first public and transparent move between a dispensary and bank involving cash deposits from dispensary operations. A third-party paid for advertising of GrowBLOX Sciences (GBLX) on MarijuanaIndex.org and within certain written publications such as this.
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What Licenses or Permits & Compliance Mean to Capital Markets
More clarity from the federal government on compliance and enforcement means more investor money and bigger players entering the arena. Previously thought to represent tremendous economic and criminal risk, dispensaries which operate in jurisdictions with permits, licenses, or established protocols for compliance are increasingly attractive from an investor's lens.
Regulatory "comfort" in the industry among insiders and active investors is at an all-time high, as illustrated by the size of private equity dollars and sheer mass and overall liquidity of issuers or mergers within the public sector. Some would argue that an overall decline (and general roller coaster) within cannabis public equity prices is extremely bearish, but an exponential increase in companies vying for investor attention means lower liquidity on a per-issuer basis. Investors are likely to become more discerning, especially in light of regulatory actions in 2014. When ambiguity is removed regarding federal treatment of state and locally compliant marijuana dispensaries - look for potential IPOs on national exchanges in the US and acquisition activity to gain in both quantity and size.
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No 1 HC was swamped with applications, most of which did not pan out. Plus Tweed took at least 6 weeks, We are going go for two licenses, 2 to 4 weeks hold me to it.
Excellent posts.
There is nothing more Bill can do re license. HC must inspect which will shall see in the next 2 to 4 week. While we are waiting why not talk about other projects. This is a great company and once the license will see a nice rise in pps.
Interesting Article
Canada Is Primed To Be A Global Example For Medical Marijuana
Reuters
JOHN TILAK, REUTERS
JUN. 13, 2014, 5:43 AM 4,996 2
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Marijuana is pictured for sale during the annual 4/20 day, which promotes the use of marijuana, in Vancouver, British Columbia April 20, 2013. REUTERS/Ben Nelms
Thomson Reuters
Marijuana is pictured for sale during the annual 4/20 day, which promotes the use of marijuana, in Vancouver
TORONTO (Reuters) - By unlocking the once-obscure medical marijuana market, Canada has created a fast-growing, profitable and federally regulated industry with a distinct appeal to the more daring global investor.
About a dozen producers of the drug will find themselves in the spotlight this year as they consider going public or prepare to so through share sales or reverse takeovers to capitalize on recent regulatory changes, investment bankers said.
The Canadian companies are in a race to raise money to build facilities, attract patients and grab shares in a market projected to grow to C$1.3 billion ($1.20 billion) in the next 10 years.
Despite facing considerable risks, they have the advantage of being in one of the few countries where medical marijuana is legal nationwide and where licensed operators can mass-produce it.
In the United States, the drug remains illegal at the federal level. Some 20 U.S. states have legalized medical marijuana, but investors worry about the prospect, however remote, that the federal government may strike down those laws.
Although the U.S. market is home to companies including Medical Marijuana Inc <MJNA.PK> and Cannabis Science Inc <CBIS.PK>, their northern counterparts are likely to benefit from greater legitimacy and legal clarity. Sources said much of the private equity investment in the Canadian industry had come from the United States.
“Canada is one of the few countries anywhere where its citizens have a constitutionally protected right to access medical marijuana with a physician's consent," said Paul Rosen, chief executive officer of PharmaCan, a holding company with large stakes in four producers. "And you've got the government trying to create an industry around it."
Tweed Marijuana Inc <TWD.V>, which converted an old chocolate factory into a marijuana farm, led the pack by becoming the first publicly held Canadian company in the sector. Its April offering was oversubscribed within 15 minutes of being announced, sources said.
Inspired by Tweed, PharmaCan plans a listing in the next month or so. Producers Organigram, Aphria and Bedrocan expect to go public in the next three months, while CannMedica and others are looking at doing so.
Highlighting the industry's mainstream allure, Tweed's listing was led by two highly respected Bay Street firms, mid-sized investment bank GMP Securities and boutique adviser Jacob Securities.
Other banking firms involved in the sector include Dundee Securities, Bloom Burton, PowerOne Capital Markets, Jordan Capital Markets and Delavaco Group.
RISKS AND REWARDS
An April overhaul by regulator Health Canada has thrown the market open. More than 850 companies have applied for licenses to produce the drug, and 13 have obtained them so far.
"This is Health Canada's realization that medical marijuana deserves to have a space in the treatment paradigm," said Bloom Burton President Brian Bloom. "What they're asking in return is that the standards of manufacturing, distribution and vigilance are similar to what is seen in the pharmaceutical industry."
Analysts expect only a few major companies to remain standing a few years from now.
"The winners will be the ones that are going to have a strong brand, a strong customer acquisition strategy, and have the ability to scale up quickly,” said Jacob Securities analyst Khurram Malik.
Health Canada estimates the sector will grow tenfold in its first 10 years, reaching about 450,000 users and C$1.3 billion in sales.
Malik says that is only half of the market's potential because the same number of people already use medical marijuana through the black market and Health Canada’s measures will bring greater access and lower prices.
"It's an industry that has been born out of almost nothing, and it is moving very rapidly into something very large," he said. "The flip side is you're also going to have a lot of risk."
Indeed, a list of risk factors takes up about half of the 22 pages in Tweed's latest quarterly filing.
Potential industry pitfalls include legal changes, resistance from home growers suing for the right to keep producing their own pot and physicians who are not convinced about the drug's benefits.
"We believe that there's not enough evidence out there that shows us that we could use this product safely," said Dr. Louis Hugo Francescutti, president of the Canadian Medical Association. "We're actually being asked to authorize use of a product blindfolded."
Michael Krestell, president of investment bank M Partners, says investors betting on the sector at this stage are looking for “high-risk, high-reward” opportunities. [ID:nL1N0MN27A]
He expects the planned offerings to be in the C$5 million to C$20 million range, with the companies valued at C$60 million to C$100 million.
Tweed, which has a market capitalization of $108 million, raised C$15 million when it went public through a reverse takeover of a listed entity.
Bankers expect most of the medical marijuana companies to take this approach since it is often faster and cheaper.
For despite the potential of the industry, its biggest challenge is to establish credibility among patients, doctors and more-cautious investors.
"I don't care if we're the biggest seller of medical marijuana in the first year or two," said Aphria CEO Vic Neufeld, who previously led vitamin maker Jamieson Laboratories, "but I want to make sure that we are the most trusted."
($1 = 1.0844 Canadian dollars)
(Additional reporting by Euan Rocha; Editing by Lisa Von Ahn)
More from Reuters:
Read more: http://www.businessinsider.com/r-canadian-cannabis-producers-set-their-sights-high-2014-13#ixzz34YIF4I9Y
Once again I said I don't know I am only speculating. However, I do feel louie we should get the license as I stated earlier 2 to 4 weeks from now. Hold me to it.
No I do not know the names of the two companies but I will make my final prediction on license, anywhere from 2 to 4 weeks. I feel I am right let's see and hold me to it.
That is what we are all waiting for however remember the person from health Canada said out of all those apps 370 were rejected for incomplete applications, 158 rejected, 30 with drawn. We have a finished building so it should not take that much longer. License would clearly put us on the map.
There was an article about someone from Health Canada who said the license process can take 2 to 4 months. Is that correct.
I would like to see something that says grow equipment can be put on a site that has not been approved for a license.
Can you copy that article for me because the one I saw said anywhere from 2 to 4 months. And I know Tweed applied on December 16, 2013 and received it on January 28, 2014
Richard my guest would be, unless there is something seriously wrong
within 2 to 4 weeks. 4 weeks being he latest. As far as grow equipment, are you allowed to put grow equipment in a building where you do not have a license?? And what at this point be the need for large trucks.
Mariah do you have any take on when the license could be issues. Once again a guesstimate. Let's see what you intuition says. Enjoy your posts.
The key to the license is HC. We do not know how many other inspections re other companies, mj or not they have. Also how much personnel they have available to inspect. This is no longer up to Bill, it is up to Health Canada. Really out of the hands of fixt. Richard you have any prediction on when we will get license. A guess is all that is required. Thanks for your posts.
This is a legitimate company however administrative snag in license is taken on a negative bent. Hardest thing in the world is to wait. Particularly after the company did so much to complete early. I understand the frustration.
I meant Megamania your posts is correct, unknown how many people work for HC as inspectors?
Agreed Missy HC is the missing part of the puzzle. Really this is nothing more then a Certificate of Occupancy. The structure is up and the security is in force. We need someone from HC with a check lists. Bill and gang have done all that is necessary now hard part which is wait.
Your right about that. It appears all systems are go. However I really like fitx's board. We have some good scientists.
I would agree. But I do think 4 to 5 weeks we should have it.
I agree but it appears they are doing everything right. Buying a company that is already producing was a smart move.
I think fitx if it gets a license will go up nicely but will also come down as fast, without other news. Thank you I will study enrt and watch it everyday. You have any guess on when fitx will get license. I know too hard to predict.
Your correct. I believe Tweed applied December 16, 2013 and received the license January 28, 2014. If Enrt is producing no real rush. Once again thanks for the post. I do feel we should hear something before June 29, 2014 latest 2nd week in July.
Are they waiting the approval license so they can grow mj? When noticed Health Canada they their were done with their project and are awaiting license approval?
interesting article
Legal marijuana, a multibillion-dollar industry, still faces legal hurdles
‘Fastest-growing industry in America’ employs many, but tax laws and access to banks remain obstacles
June 11, 2014 5:00AM ET
by Sandra Fish @fishnette
BOULDER, Colo. — Handblown glass pipes and bongs are displayed in antique cabinets at the Farm, a marijuana dispensary in one of two states that have legalized the drug.
The walls feature paintings by local artists. There are vaporizers, electronic cigarettes, rolling papers and more. That’s just in the front of the store.
In the back room, “budtenders” are selling gluten-free edibles, lollipops, salves and, of course, marijuana.
Jan Cole’s company grows and harvests its own marijuana strains, but the Farm depends on vendors to provide many of the products sold at the store. The business employs 103 people.
Behind the scenes, there are accountants, lawyers, janitors, Internet providers, soil companies, testing laboratories and more.
The cannabis industry isn’t just pot shops and warehouse grows. It’s an industry that could reach $2.57 billion in value this year, according to the Arcview Group, a San Francisco investment and research firm that focuses on the cannabis business.
The National Cannabis Industry Association has more than 500 members and will hold the first National Cannabis Business Summit in Denver for more than 800 people in late June.
“Sixty percent growth, so it’s the fastest-growing industry in America,” said Michael Correia, a federal lobbyist for the association. “This is all while it’s illegal federally. Can you imagine what would happen if it were legal federally?”
Billion-dollar business
A couple of blocks from the Colorado Capitol, a historic, two-story brick house is home to Vicente Sederberg, billed as “the marijuana law firm.”
The National Cannabis Industry Association headquarters is in a carriage house behind the law firm. Founded in late 2010, the association has members in 22 states — including equipment manufactures, lawyers, accountants, laboratories, security firms, business consultants and investment companies.
“A year ago, we had about 150 members. Now we’re up to 500,” said Taylor West, deputy director of the organization. “Half of those members are either dispensaries or cultivation operations, and the other half are ancillary businesses of various types.”
The Arcview report predicts 14 more states will join Colorado and Washington in legalizing adult use in the next five years. Already, 21 states and the District of Columbia allow medical marijuana, with Minnesota and potentially New York set to join the list.
In five years, the market value of the business could reach $10.2 billion, Arcview predicts. With that, some say, comes employment.
“One of our members had a job fair in Denver a couple of months ago, and they had 1,500 people show up,” Correia said. “There’s a tremendous amount of potential for creating jobs.”
Laboratories that test products are among the fastest growing segments of the industry — and they can add legitimacy to a formerly illegal trade.
“It’s good for the industry, because another benefit for a legal industry is a certain confidence in the product you’re receiving and a certain amount of consistency,” West said.
In fact, this is one industry that welcomes regulation. Cole and her employees wear green lanyards that identify them as Marijuana Enforcement Division licensees and hold photo identification badges.
“We want testing. We want clear definitions of what we have to do,” Cole said.
Roadblocks remain
Cannabis may be a growing industry, but it has distinct growing pains.
Those pains revolve around marijuana’s still being a Schedule I drug under the Controlled Substances Act, with medical and recreational marijuana businesses not being treated as legitimate under federal law.
“Our big issues basically relate to access to financial services and lack of access to financial services and the tax issue,” Correia said. “Some of them have an effective tax rate of 50, 60 or 70-plus percent.”
Cole estimates the Farm pays 50 percent of net revenue in federal taxes because a 1982 law prohibits businesses such as hers from claiming typical business deductions.
“It’s difficult,” she said. “It’s really hard to run a company and be profitable. Everybody thinks that we’re rolling in it. I have 103 families that we’re supporting.”
Even the conservative Americans for Tax Reform supports repealing the tax law originally aimed at drug traffickers to allow cannabis businesses that are legal under state law to deduct business expenses.
Then there’s the banking issue. Virtually all banks refuse to deal with dispensaries and grow facilities.
“Some people have been able to set up workarounds where they may have a bank account in their personal name or they’ve been able to set up some type of holding company,” West said. “Most of those situations are temporary at best. Usually at some point, because they’re depositing huge amounts of cash, the bank flags it.”
Working only with cash makes it difficult to pay traditional expenses such as payroll, utilities and taxes, West said. And it requires some heavy-duty security at the stores to protect all that cash.
“I worry about them being a target, for the safety of people being around or near” the businesses, said Denver Chamber of Commerce president and CEO Kelly Brough.
Colorado lawmakers approved a bill to create a cooperative financial system for the cannabis industry in May. But the state still will have to convince the U.S. Federal Reserve to allow the co-ops to accept credit cards and checks.
Correia and West hope their D.C. efforts help solve these problems.
“People are realizing that the federal government is not going to be able to deny the existence of this industry for very much longer,” West said. “We are starting to see some new people come around.”
Going legit
While cannabis-related companies want to be recognized and treated like other businesses, there’s also a nonconformist streak in the industry.
“Nobody in this industry really likes corporate America nor want to be corporate America,” said Cole. “We want to keep it colorful.”
West agreed, saying part of the difference is that the cannabis industry grew out of a policy movement, a relatively unusual route.
“What we are trying to do is build an industry that doesn’t look like other industries,” she said. “We want to make sure that we’re growing a responsible, professional industry that isn’t exploitative.”
Part of that is playing by the rules, including not marketing to people under 21 and a commitment to medical patients, she said. “This is an industry that’s going to develop state by state,” West said. “You’re going to see people develop loyalties and familiarity with brands that are local.”
In Colorado some of those brands are reaching out to others in the community, including a series of fundraising concerts with the Colorado Symphony Orchestra. The Farm is one of the sponsors of the Classically Cannabis invitation-only series, held at a private venue where edibles will be available. Cole hopes the events will introduce a younger audience to the symphony and illustrate the industry’s good will.
Brough said a few cannabis businesses are among the Denver Chamber of Commerce’s 3,000 members. And Tony Gagliardi, Colorado director for the National Federation of Independent Business, said such businesses started joining his group when medical dispensaries became prevalent in 2009.
“My dealings with those who brought the first medical dispensaries — I was very impressed,” Gagliardi said. “They wanted to run a good business. They were sincere and no nonsense.”
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Time will tell. I do feel if we get the license we will be in good shape. But I would also like to see Hemp take off. We have a number of avenues to succeed but your are right License. License License. Thanks again rolphtonair.
Not but benzinga does which put us second on their MJ Index lists. Thanks for the well thought out posts as always. You take time to think about your responses and use logic and reason. Thanks again.
No dobbie gillis is still working in his fathers store, with his mother winnie and his father who fought in world war 2 with the good conduct metal.
Actually I would like to see Fitx get into research. They could be quite lucrative and we have the people on our staff they could research and get the grants. That would really supplement if not define this company. I tried to find the board members and I did see an executive named Dr. Gillis and no nothing about his background. If anyone knows please reply.
I was wondering in Tweed has a board of directors that equals ours? I just take a look, thanks for your posts.
Great posts. But once we get the license we are in great shape. Why bested explained by the Benzinga article that came out the yesterday. The last line:
"The indications for capital raising are huge."
Creative Edge Nutrition (OTC: FITX) is historically a supplement company, but that may soon change. Creative Edge is applying for a license from the Canadian government to distribute marijuana in the country. If successful, Creative Edge would be the first publicly traded company to grow and sell marijuana. The indications for capital raising are huge.
Interesting Article:
According to a new survey from WebMD, a majority of doctors nationwide support the national legalization of medical marijuana. WebMD, which is a highly regarded, award-winning provider of information/tools to manage health, surveyed 1,533 doctors from 48 states.
The results of the survey are as follows:
69 percent say it can help with certain treatments and conditions.
67 percent say it should be a medical option for patients.
56 percent support making it legal nationwide.
50 percent of doctors in states where it is not legal say it should be legal in their states.
52 percent of doctors in states considering new laws say it should be legal in their states.
In addition to these statistics, 82 percent of oncologists and hematologists called for medical marijuana, saying that the drug has delivered real benefits for patients.
The report recognized that medical research has been limited due to the federal government’s view of marijuana as a “Schedule I” substance, which places marijuana among the most dangerous drugs. According to the feds, Schedule I drugs have ““no accepted medicinal use” and have high potential for abuse.
WebMD Chief Medical Editor, Dr. Michael W. Smith, stated that even though the medical community may not be aware of long term effects due to lack of research opportunities, doctors still “support using marijuana as a potential treatment option for any number of medical problems,” adding that “many doctors already prescribe it” in the 20 states (plus the District of Columbia) where medical marijuana is legal.
The results of this survey expand the argument for the rescheduling of marijuana. Though the American Medical Association has not come out for or against medical marijuana, they have called for the federal government to review their classification of the drug, and urged research grants to be issued for the clinical research of cannabis.
420 Investor Alan Brochstein told Benzinga that he views these survey results as “huge news” for the cannabis sector, noting that broad support from doctors might help to advance the case for marijuana’s rescheduling, opening the door for future medical studies. “As more research emerges, potential benefits and risks will become more clear,” which would bring more certainty to the industry.
Just last month, for the first time ever, the Feds approved a medical marijuana study at the University of Arizona. This signaled a major shift in medical marijuana development research.
Due to the increasing support for medical (and recreational) legalization, WebMD has launched the Marijuana on Main Street Special Report, which is designed to help patients/recreational cannabis users recognize the potential health benefits and side effects of marijuana.
Read more: http://www.benzinga.com/news/14/04/4440847/new-survey-shows-majority-of-doctors-in-favor-of-national-marijuana-legalization#ixzz2xksJ0m5Q
Excellent, remember after application process they have to develop a plan which takes time. But no there are actually only 289 applications active, the rest of the 800 have been denied for incomplete application, 158 have been rejected, 30 have been withdraw. Will take a little more time but I believe we will hear.