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What is machine learning you ask?
Machine learning is the subfield of computer science that "gives computers the ability to learn without being explicitly programmed" (Arthur Samuel, 1959). ... Machine learning is sometimes conflated with data mining, where the latter subfield focuses more on exploratory data analysis and is known as unsupervised learning.
Why is it important?
All of these things mean it's possible to quickly and automatically produce models that can analyze bigger, more complex data and deliver faster, more accurate results – even on a very large scale. And by building precise models, an organization has a better chance of identifying profitable opportunities – or avoiding unknown risks.
http://www.sas.com/en_us/insights/analytics/machine-learning.html
Average pay currently for those in the machine learning field:
Average Salary for Skill: Machine Learning
Job National Salary Data
Senior Data Scientist 159 salaries $130,311
Software Engineer 128 salaries $106,353
Senior Data Scientist, IT 102 salaries $130,082
Research Engineer 50 salaries $92,106
And those are the averages.... they're making as much as some doctors and as much as US congressmen. Some of the highest paid people in the country.
If they're making this much then imagine how much a company has to be making to support such a salary....
2035 projects Market valuation in US alone for machine learning 8.3 TRILLION dollars.
Valuation of machine learning
Industry.
2035 projection:
The future market valuation for machine learning by 2035:
Source: Accenture
Definition: Artificial Intelligence (AI) refers to IT systems that sense, comprehend, act and learn.
Forecast Timeline: 2035
Market Value Projected: $8.3 tn (U.S. only – compared to $814 bn in UK, $2.1 tn in Japan, and $1.1 tn in Germany, all measured in GVA i.e. gross value added)
(Source)
http://techemergence.com/valuing-the-artificial-intelligence-market-2016-and-beyond/
Twitter.com/earthsciencetec
Company posted a bunch of pictures from them filming the upcoming episode on Bloomberg with Redchip. Making things happen! That's awesome
I like Ken. He seems to be a stand up guy that is really not just talking the talk but he is walking the walk as well.
Today's news is huge. People are reading over everything and digesting it. It will be a huge mover very soon.
Trader, this is a LOT of information.
With the current Situation and only the news we KNOW (not future mergers or acquisitions) what do you think the P/E ratio should be for the Internet of Things Sector? Looks like the company has made at least 200k in sales so far this year? So that would be roughly 5 million a year?
Are we looking at a 10-1, 20-1, 30-1 P/E ratio in this sector?
Damnit market!
Why must you be closed right now?!
200k in sales for one of the companies.... is that since acquisition? So far this calendar year? Is so then they're on track for a 5 million dollar in sales year.
Signature Devices Signs Agreement to Acquire Four (4) Internet of Things Companies Under Subsidiary Innovo Technology
1/11/17, 7:00 AM
IRVINE, CA -- (Marketwired) -- 01/11/17 -- Signature Devices, Inc. (OTC PINK: SDVI) -- today announced the formation of Innovo Technology (www.innovotech.io) and the acquisition and merger of Four (4) IOT companies.
Innovo Technology, a leading software and hardware development company has launched its IOT business. Four companies were formed at start-up Incubator Inqubus, the subsidiary of Central Wireless and later acquired by Signature Devices, Inc. Innovo develops and manufactures devices for digital home media management under its Morpheus brand combined efforts with, Truckit, Tazerwear and Knoton to create a connected platform for the Internet of Things. The expected closing date for the transaction is February 1st, 2017. Two of the four companies are already profitable.
The Extreme High Bit Rate (ExHBR®) Morpheus Media Server gives consumers a high end media repository that integrates nicely with products like the Apple TV and Roku as well Morpheus's own dedicated ExHBR® players. Morpheus offers multiple solutions, which are currently sold, to distributors and installers. Innovo will focus on producing a direct to consumer version of the product, which is already in beta. The Morpheus servers have been in market and sold to customers in Asia, Europe and the Middle East. The company has generated over $200k in product sales with minimal fanfare. The global market for home media servers is projected to reach $200 billion.
Knoton develops IOT devices and supporting software to be used for any IOT based products. The portable device can be used for tracking one's health, a pet's location, a child tracker, Home Automation and other IOT services. The modular platform will enable hardware developers to develop their own products using a library of 50+ sensor covering health, lifestyle and security. The wearables device market produced $20 billion in 2015 and projected to be at $70 Billion by 2025.
Tazerwear develops AI based software for smart object recognition and applies those algorithms to sensors and wearable devices.
Truckit is a beacon platform provider for the food truck industry which is now based on Knoton Technology. The beacon technology simplifies the communication process between the food truck operator and its consumer with the simple touch of the button by creating a geofenced push notifications via sms or posting to social media. With 100 beacons in market and generating revenue, Truckit is poised to be the clear leader in the next 12 to 18 months. The Food truck industry is expected to generate $2 billion in revenue in 2017 powered by 10000+ trucks.
Innovo, which is already at revenue stage and deploying the best in hardware technology, combines Neural-based Artificial Intelligence to manage and control various consumers and businesses devices. "Our technology portfolio is a unique blend of algorithmic software driven by AI and custom-designed specialized hardware that can manage multiple concurrent engagements with devices," said Innovo's President, Inas Azzam. Joining Mr. Azzam are founders from all the company's including Jordan Medlock and Travis Stephens.
Signature Devices, Inc. is currently in the process of updating the financials on OTC Markets and to become OTC Pink Current. Signature Devices will be consolidating the company's financial statements with the financials and assets of its subsidiary Graffiti Entertainment, Inc. The company will also be releasing new information and details about the four new acquisitions and Graffiti Entertainment.
About Innovo
Based in Irvine, California, Innovo Technology combines the best of the technologies underpinning the popular Morpheus media server, Tazerwear's AI Software, Truck It's beacon platform with Knoton's hardware, infrastructure and software. The result is a company that blends custom software and powerful hardware IoT-interconnected devices. Learn more by visiting: http://innovotech.io/about/
About Signature Devices, Inc.
Based in Sheridan Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC PINK: SDVI) is a holding company with subsidiaries that develop Internet of Things (IOT) products through its subsidiary Innovo Technologies, Inc., and publishes diverse media products including video games and mobile applications through its subsidiary Graffiti Entertainment, Inc.
Forward-Looking Statements:
The information in this press release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Contacts:
Investors Relations
ir@signaturedevices.com
650-654-4800 ext 111
http://www.signaturedevices.com
Source: Signature Devices, Inc.
If news happens after close, or before open tomorrow then this will gap and go. Anyone not in will be out of luck.
.005 short term. Multiple pennies possible long term imo
CEO said via twitter he's waiting on the login info from OTC markets and then he'll be posting a PR soon after that. I'm guessing we hear something soon in the way of a PR. And if the CEO is doing all this work, spending thousands of dollars and locking up shares then it's not for fun, it's not for health, it's because he's got something HUGE to announce and bring in? Maybe a big merger? He's kinda hinted around at that.
Man, this might see half a penny or higher! .004-.005 potential if the short squeeze happens with the news.
Everyone lock up your shares!
https://m.luckyvitamin.com/p-1618760-earth-science-tech-high-grade-hemp-oil-cbd-extra-strength-strawberry-16-6-mg-1-oz?loc=US
Here's a link to their product on Lucky Vitamin. :)
Good call ched. I don't think etst is done yet
http://www.nasdaq.com/press-release/earth-science-tech-inc-otc-etst-signs-marketing--media-agreement-with-pearls-of-health-and-appoint-20170109-00316.
$etst news
Earth Science Tech, Inc. (OTC: ETST) Signs Marketing & Media Agreement with Pearls of Health and Appoints Gabriel Aviles as Chief Sales Officer (CSO).
Earth Science Tech Engages RedChip to Lead Investor Relations Efforts
ETST Announces 60-Patient Clinical Prelaunch Study for its MSN-2 Medical Device for the Diagnosis of Chlamydia & Gonorrhea, ETST Elects Dr. Michel Aubé as New CEO & CSO, and Nickolas Tabraue as President.
Earth Science Tech, Inc. (OTC: ETST) Signs Marketing & Media Agreement with Pearls of Health and Appoints Gabriel Aviles as Chief Sales Officer (CSO).
By GlobeNewswire, January 09, 2017, 07:45:00 AM EDT
Vote up AAA
Ft. Lauderdale, Jan. 09, 2017 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC PINK:ETST) ("ETST" or "the Company"), an innovative biotech company, which focuses on cannabis (industrial hemp), cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, is pleased to announce a recently signed media publicity and marketing agreement with the popular health talk radio show, Pearls of Health. Additionally, Gabriel Aviles the newly appointed Chief Sales Officer (CSO), expects 2017 to be a year of mass expansion for the company.
Pearls of Health has been on the air for 21 years and has amassed quite a following, both in its home state of Florida as well as abroad. The show Pearls of Health is well known for delivering unbiased and propaganda-free discussion on health products, research, and other health and wellness topics. The marketing agreement will include eight 40-minute interviews with guests of the company's choosing, 104 minutes' worth of commercials, and special placement on the station's website and social media profiles. Additionally, the station intends to connect Earth Science Tech with several distributors, both internationally and domestically in hopes of creating and developing valuable business relationships with mutual benefits.
Gabriel Aviles, the new CSO has been working with the company since Q2 2016, and has proven himself by helping to get ETST products on store shelves all across the nation and in test phase in many chains across the country one being Lucky Vitamins as well many other chain stores that are in the final stages for PO (Purchase Order). Mr. Aviles will be leading and managing all sales channels for the company, including managing relationships with distributors, representatives across the country, and direct-to-consumer sales pipelines.
"I am excited to be part of this great organization and I am privileged to be part of ETST's management team," said Mr. Aviles, "With such a rich history of selling high-quality nutritional supplements, this company has built up a strong brand name and immense trust with its customers. I think 2017 will be a tremendous year for this company, and I couldn't be happier to be a part of the tight-knit team that's going to make that happen."
President, Director, and Chief Operating Officer, Nickolas S. Tabraue chimed in, "In 2016, we saw our products spread from just a few local stores to numerous stores across the country and growing. Gabriel, helped us accomplish this in just a short amount of time as he was only with us for part of the year. We anticipate that we will maintain our upward trajectory and I will be able to focus my energy on our planned new facility, partnerships, inventory control, and of course, our loyal investors. I am confident that 2017 will be the year we take ETST to the next level."
Read more: http://www.nasdaq.com/press-release/earth-science-tech-inc-otc-etst-signs-marketing--media-agreement-with-pearls-of-health-and-appoint-20170109-00316#ixzz4VH1nne8t
I think these next two weeks are going to be great weeks for etst!
Expecting huge news here!
Same here. Have a nice starter and I'm thinking I might add more as well. Looking good.
Signature devices inc. is in the "internet of things" business according to their website.
http://www.businessinsider.com/how-the-internet-of-things-market-will-grow-2014-10
According to this article the "internet of things" market could be the next "industrial revolution"?. Pretty incredible potential here. Especially if this "internet of things" business is profitable for the company.
I am excited and IMpatiently waiting for the updated filings from Ken to see what we have here. The potential is ridiculously high here.
Working fine for me working guy. Did you try clearing the cache and then reloading?
And great Info TI!
$sdvi Quote from trader investor:
LONGS READ: $SDVI Float Locked & Up 40% on Light Volume. $SDVI traded 55 million shares today but it ran from .0004 x .0005 to .0007 on the closing bell on only about 25 million which means this float is locked tight and $SDVI can easily run high. I've been telling everything this will move and move fast and that a bunch of us have been locking up the float
$sdvi what a great call! Next week should be good. The chart looks ready and the company is going current and rumor mill is saying BIG MERGER!
For those able to buy at .0002 like that guy on Twitter did when he called it at .0002 last week it has been a 350% gainer. Wish I could what group that was that called it. Good call so far.
45mill bid showed up from CANT on $SDVI. CANT is SHORT and is trying to get someone to sell into them. BE STRONG! When news hits we squeeze
7s getting whacked! Here we go!
"Just sent OTC Markets order form and payment information for news service. 24-36 hours for account setup and then posting of 1st PR." -Kenneth Hurley via twitter
That was 18 hours ago. I'm thinking a little consolidation today, we'll see a run up before close in anticipation of news.
Company just spent 4grand getting current! And the company has a lock on the share structure for 90 days.
You don't do this without having something Huge to announce.
ETST Security Details
Share Structure
Market Value1 $18,819,599 a/o Dec 30, 2016
Authorized Shares 75,000,000 a/o Dec 27, 2016
Outstanding Shares 40,912,171 a/o Dec 27, 2016
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float 4,064,332 a/o Dec 27, 2016
Par Value 0.001
Transfer Agent(s)
Island Stock Transfer
Shareholders
Shareholders of Record 89 a/o Dec 27, 2016
Short Selling Data
Short Interest 1,090 (-85.88%)
Nov 30, 2016
Significant Failures to Deliver No
My prediction is we open .0004/5
If Friday's action and someone attacking the .0003s the last hour is any indication then there's no way anyone gets .0002s. Will be incredibly lucky to get any .0003s.
But, how much is the average app valued at? I'm seeing numbers from 2,000-20,000 when I google it. If the average is 5,000-10,000 then could be looking at a million dollars or more in value?
$ETST Earth Science Tech Engages RedChip to Lead Investor Relations Efforts
Ft. Lauderdale , Dec. 28, 2016 (GLOBE NEWSWIRE) -- Earth Science Tech, Inc. (OTC PINK: ETST) ("ETST" or "the Company"), an innovative biotech company focused on cannabis (industrial hemp), cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, engaged RedChip Companies (“RedChip”) to lead its investor relations efforts.
Dr. Michel Aube, CEO of ETST, stated, “We expect to accomplish many significant milestones in the coming months of 2017. After carefully reviewing a multitude of selections to communicate our successes to the market, we elected to partner with RedChip. They have an extensive track record of improving valuations and expanding the shareholder bases of emerging growth companies like ours. Their robust platform provides the ideal solution to help us reach new shareholders worldwide. With RedChip’s help, we’re confident our visibility in the retail and institutional investor communities will improve immensely in 2017.”
Dave Gentry, President and CEO of RedChip commented, "Earth Science Tech addresses a significant market need for an alternative health & wellness. With a variety of achievements on the horizon the timing is ideal, and we look forward to introducing this exciting story to our large audience of retail and institutional investors."
RedChip is a world leader in investor relations, financial media, and research for microcap, small-cap, and mid-cap stocks. Founded in 1992, and headquartered in Orlando, Florida, with affiliates in New York, Pittsburgh, Paris, and Seoul, RedChip has helped hundreds of companies achieve their capital markets goals and has been ranked by Inc. Magazine as one of the fastest growing privately held investor relations firms in the U.S. RedChip’s robust platform includes a weekly television show, “The RedChip Money Report,” which reaches more than 100 million households globally (www.redchip.com/tv).
About Earth Science Tech:
Earth Science Tech (www.earthsciencetech.com) is a publicly traded (ETST) unique Science based Biotechnology company focused on cutting edge Nutraceuticals, Bioceuticals, Phytoceuticals and Cosmeceuticals for the Health, Wellness and Alternative Medicine Markets to help improve the quality of life for Consumers Worldwide. ETST is also dedicated to providing Natural Alternatives to prescription medications through the use of its cutting edge Nutritional and Dietary Supplements. This may include products such as its High-Grade Hemp CBD (Cannabidiol) Oil, Vitamins, Minerals, Herbs, Botanicals, Personal Care Products, Homeopathies, Functional Foods and other products. These products may be in various formulations and delivery systems including (but not limited to) capsules, tablets, soft gels, chewables, liquids, creams, sprays, powders, and whole herbs. ETST is focused on researching and developing innovative Hemp extracts and to make them accessible Worldwide. ETST plans to be the premier supplier of the highest quality and purity of High Grade Hemp CBD (Cannabidiol) Oil. ETST's primary goal is to advance different High Quality Hemp extracts with a broad profile of Cannabinoids and additional natural molecules found in Industrial Hemp and to identify their distinct properties. The company is dedicated in offering its consumers the finest and purest quality All Natural-Organic Hemp CBD Oil while never compromising on quality. ETST High Grade Hemp CBD (Cannabidiol) Oil is classified as "food based" and therefore perfectly permissible in all 50 states and more than 40 countries. Cannabinoids (Cannabidiol/CBD) are natural constituents of the Hemp plant and CBD is derived from Hemp stalk and seed. Hemp oil is a well-known dietary supplement and the naturally occurring CBD possesses no psychoactive qualities and presents a continuing stream of overwhelming evidence of significant Wellness benefits. With no psychoactive ingredient, Hemp CBD Oil is a ready-for-market Hemp-based Nutraceutical. The United States Food and Drug Administration (FDA) currently considers non-THC hemp based cannabinoids, including CBD, to be "food based" and therefore saleable. These new non-psychoactive CBD-rich hemp oil products that ETST has geared up to market and distribute are beyond reproach. CBD (cannabidiol), a naturally occurring constituent of the Industrial Hemp plant, promotes and supports the nutritional health of aging bodies in particular. Source: US Government Patent #6,630,507 "Cannabinoids as antioxidants and neuroprotectants." ETST does not grow, sell or distribute any substances that violate United States Law or the controlled substance act. ETST does sell and distribute cannabis industrial hemp based products.
https://globenewswire.com/news-release/2016/12/28/902004/0/en/Earth-Science-Tech-Engages-RedChip-to-Lead-Investor-Relations-Efforts.html
Graffiti on the balance sheet? How many apps does graffiti have? Man, id love to know the valuation of graffiti!
This is going to run HARD
Wow, already posting some great news over there!
Thanks Ken, you're the man! That's great news.
Trader investor is going straight up BEASTMODE with the DD here! Keep it coming bro! Great job!
Hoban owns a big cannabis law firm in Denver and he is looking to file a lawsuit against DEA http://www.westword.com/marijuana/denver-law-firm-considering-lawsuit-over-deas-new-cbd-classification-8602930
Hoban is the same guy who when the DEA tried to do this previously in 2001 he shut them down and sent them packing.
Here's another article
https://www.leafly.com/news/politics/hold-deas-move-cbd-may-not-legal
“The DEA cannot create a statute,” Robert Hoban told me in an interview earlier this week. Hoban is a Denver-based attorney who specializes in cannabis law. He’s also an adjunct law professor at the University of Denver. “That can only be done by Congress.”
Hoban mentioned legal precedent established by a case involving hemp products more than a decade ago. “Look at the HIA versus DEA case.”
So I did. Here’s how that worked out.
On October 9, 2001, the DEA published what it called an “Interpretive Rule” stating that “any product that contains any amount of THC is a Schedule I controlled substance.” The rule would have banned all hemp and hempseed products, including hempseed oil.
If the DEA wanted to schedule hemp, it would have to follow the rules. The agency couldn't do it on its own.
The case took more than two years to find resolution, but ultimately Dr. Bronner’s, et al, defeated the DEA. In two separate rulings in 2003 and 2004, the US 9th Circuit Court concluded that non-psychoactive hemp had not been regulated by Congress under the scheduling system established by the Controlled Substances Act. Therefore, if the DEA wanted to schedule hemp, it would have to follow the established rules for doing so, which meant going through Congress. The DEA’s “Interpretive Rule” was not an interpretation at all, the judges said. It was an act of legislation. And only Congress can pass legislation. “The DEA has no authority” to regulate drugs that are not scheduled by Congress, the court concluded.
The new rule is on even shakier ground
Those cases, known collectively as Hemp Industries Association v. DEA, are the reason you can purchase hempseed oil at Whole Foods today. And it may be the hammer with which cannabis industry attorneys can smash the new CBD rule.
In fact, this week’s CBD rule may actually be more difficult for the DEA to defend than its hemp rule 15 years ago.
Again, 2 SEPARATE rulings already stating that the DES can NOT do this.
The DEA’s attempt to criminalize the status of cannabidiol (CBD) earlier this week has thrown the cannabis industry into an uproar. Hundreds of thousands of patients around the country rely on non-psychoactive CBD products to manage pain, inflammation, seizures, and other medical conditions. Hemp-derived CBD oil was, and continues to be, sold openly in American markets.
The DEA’s notice in the Federal Register on Wednesday, however, sent that entire industry sector into turmoil. The rule creates “unfair barriers for companies with cannabidiol in their products,” said Mark Malone, executive director of the Cannabis Business Alliance. “Patients will be forced to find cannabidiol from the unregulated black market.” Leah Heise, CEO of Women Grow, said the rule “has the potential to inflict substantial harm to a legitimate industry that has been operating legally worldwide for over a decade.”
The DEA tried this before. In 2001 it tried to ban hempseed oil. And Doc Bronner kicked the agency's butt in court.
Cloaked in the guise of a bureaucratic technicality, DEA Administrator Chuck Rosenberg made an aggressive bid to wrap CBD into the Controlled Substances Act as a federally illegal Schedule I drug. You can read more about the rule’s specifics here.
To recap: The DEA introduced a new drug code for “marihuana extracts.” In the course of doing so, Rosenberg paused to consider the question of non-psychoactive cannabidiol (CBD). Rosenberg made it clear that the DEA considers all CBD to be illegal simply because it’s derived from a plant of the genus Cannabis.
screen-shot-2016-12-16-at-2-25-23-pm
Over the past 48 hours, attorneys and legal scholars (and entrepreneur/activists like Harborside Health founder Steve DeAngelo, above) have pushed back with force. Many are arguing that the DEA’s move is a clear instance of illegal agency overreach. It’s a move that the same agency tried 15 years ago, in fact. And that attempt was ultimately slapped down by federal courts.
Is my CBD oil illegal?
Probably not. It depends on how you define “illegal.” Not to get cute, but when you start parsing the finer points of cannabis law things quickly turn vague and shifty. By publishing a final rule in the Federal Register this week, the DEA has essentially staked out new legal ground around CBD. The agency has formally stated that the DEA believes CBD products to be illegal Schedule I substances.
Is that now the law? Not necessarily. A federal judge might well see things differently than the DEA administrator. In fact, there’s a lot of evidence to think that federal courts could and would invalidate the final rule as it pertains to CBD. We’ll get to that in a minute.
Two safeguards protect patients who currently buy and use CBD products. They remain in effect.
First, you should know that there are two prominent safeguards in place protecting patients who currently purchase and use CBD products.
The first is the Rohrabacher-Farr amendment, which prohibits the Justice Department (of which the DEA is a part) from interfering in any way with state medical marijuana laws and regulatory systems. CBD products fall under the protections of that amendment. This includes so-called CBD-only states, which allow patients to possess cannabidiol oil but not psychoactive THC. So the DEA may consider CBD oil illegal, but the agency can’t enforce that opinion in any of the 28 medical marijuana states (plus the District of Columbia), or any of the 16 CBD-only states.
RELATED STORY
CBD vs. THC: Why is CBD Not Psychoactive?
There are a couple caveats to Rohrabacher-Farr, however. It doesn’t pertain to federal jurisdictions such as National Forests or National Parks. And the amendment must be reauthorized through Congressional spending bills. The latest re-up happened on Dec. 9, but it only runs through April 2017, at which point it would have to be reauthorized again.
The second protection is the 2014 Farm Act, which carved out an excemption to the Controlled Substances Act for states engaging in hemp cultivation pilot projects.
The DEA tried this in 2001. And lost.
Cannabis industry veterans who have been in the game a while must have felt a sense of deja vu when they read the DEA’s final rule this week. Because the agency tried the same maneuver more than a decade ago. Back then, cannabis and hemp advocates took the DEA to court—and the DEA lost.
'The DEA cannot create a statute. That can only be done by Congress.'
Robert Hoban, Adjunct Law Professor, University of Denver
“The DEA cannot create a statute,” Robert Hoban told me in an interview earlier this week. Hoban is a Denver-based attorney who specializes in cannabis law. He’s also an adjunct law professor at the University of Denver. “That can only be done by Congress.”
Hoban mentioned legal precedent established by a case involving hemp products more than a decade ago. “Look at the HIA versus DEA case.”
So I did. Here’s how that worked out.
On October 9, 2001, the DEA published what it called an “Interpretive Rule” stating that “any product that contains any amount of THC is a Schedule I controlled substance.” The rule would have banned all hemp and hempseed products, including hempseed oil.
RELATED STORY
In Photos: These “Dragon Balls” Contain 3,000 Grams of Pure Cannabis Oil
With sneaky bureaucratic maneuvers like this, timing is everything. On October 9, 2001, Americans were still reeling from the shock of the 9/11 attacks. Nobody was paying attention to obscure hemp regulations in the Federal Register.
Nobody, that is, except a handful of hempseed oil companies whose products were effectively outlawed by the rule.
A coalition of those companies, led by Dr. Bronner’s Magic Soaps, challenged the DEA rule in federal court.
If the DEA wanted to schedule hemp, it would have to follow the rules. The agency couldn't do it on its own.
The case took more than two years to find resolution, but ultimately Dr. Bronner’s, et al, defeated the DEA. In two separate rulings in 2003 and 2004, the US 9th Circuit Court concluded that non-psychoactive hemp had not been regulated by Congress under the scheduling system established by the Controlled Substances Act. Therefore, if the DEA wanted to schedule hemp, it would have to follow the established rules for doing so, which meant going through Congress. The DEA’s “Interpretive Rule” was not an interpretation at all, the judges said. It was an act of legislation. And only Congress can pass legislation. “The DEA has no authority” to regulate drugs that are not scheduled by Congress, the court concluded.
The new rule is on even shakier ground
Those cases, known collectively as Hemp Industries Association v. DEA, are the reason you can purchase hempseed oil at Whole Foods today. And it may be the hammer with which cannabis industry attorneys can smash the new CBD rule.
In fact, this week’s CBD rule may actually be more difficult for the DEA to defend than its hemp rule 15 years ago.
At least the 2001 hemp rule directly addressed hemp. DEA Administrator Rosenberg’s attempt to pull CBD into the Controlled Substances Act as a Schedule I drug wasn’t even the point of this week’s rule. Rosenberg outlawed CBD under the guise of answering a question about CBD products that contained no other cannabinoids. But make no mistake: When it comes to Federal Register entries, there isn’t a word or a comma that isn’t vetted five times from Tuesday by a platoon of government lawyers. Rosenberg and the DEA knew exactly what they were doing.
On Thursday, Hoban said that his law firm was in communication with other cannabis attorneys and experts around the country. A singular or joint lawsuit challenging the DEA rule may be coming soon. Their chances against the DEA look promising. Hoban mentioned the earlier Hemp Industries v. DEA cases, as well as the recent challenges to the DEA’s attempt to ban Kratom. “Our team is diligently and expediently working to prepare a recommended strategy in response to the DEA’s Rule,” Hoban said.
And to further my point, the DEA does NOT schedule drugs. The DEA is responsible for the enforcement of the Controlled Substances Act and may initiate proceedings to change a drug's schedule or to add or erase any drug from a certain schedule.
The FDA and congress schedule drugs.
That's a ton of apps.
"App development cost surveys
2016 enterprise survey: $250,000 – $500,000 mobility budget most common".
http://www.formotus.com/14018/blog-mobility/figuring-the-costs-of-custom-mobile-business-app-development
Average cost to develop an app.... the valuation here is pretty high
Incredible DD.
That he is. Incredible DD!