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GB Science the "6th-place finish among more than 40 candidates for a medical marijuana license in Texas"
JUN 18, 2017
The LSU AgCenter is betting the future of its medical marijuana business on a small Las Vegas company's ability to raise the cash needed for a plant growing and processing center.
GB Sciences Inc., selected last week from among seven proposals, plans to invest up to $6.5 million over the next two years to expand an existing office-and-warehouse building and set up operations, CEO John Poss said. Patients could get the first batch of medicines as early as January or as late as March.
In order to accomplish that, the publicly traded company will have to attract more money from investors. Poss is confident the company can. Others are less so.
"If you look on their balance sheet, they don't have a lot of money … their public filings do not show them to be very cash rich at all," said Alan Brochstein, co-founder of 420 Investor.
GB Sciences is what is known as an over-the-counter stock. OTC companies are usually small and can't meet the listing requirements of stock exchanges. For example, Nasdaq requires a minimum share price of $1. GB Sciences closed Friday at 25 cents.
GB Sciences ended its third fiscal quarter Dec. 31, with $991,325 in cash but will owe $1.2 million over the next year, said Brochstein, a stock analyst who focuses on cannabis companies.
GB Sciences' most recent quarterly report included a note saying the company has lost $28.1 million since inception and burned through $2.8 million during the first nine months of the fiscal year. "These factors, among others, raise substantial doubt about the company's ability to continue as a going concern," the note says.
Those numbers also raise some doubt about whether GB Sciences will be able to absorb years of losses the AgCenter has projected for the medical marijuana business in Louisiana that the Legislature approved in 2015. The AgCenter estimates it could take four to nine years for revenue to catch up to expenses.
If GB Sciences can't make a go of it, LSU might have to repeat the vendor selection process, forcing patients to wait even longer for the cannabis-based medication.
So far, the company has been able to raise enough money from investors to cover its losses, and Poss believes GB Sciences will continue to do so.
The company recently raised $2.8 million, and Poss said GB Sciences has a commitment from investment bank Network Financial 1 to raise $6 million through a securities offering. The terms of the offering have not yet been announced.
Brochstein said the investment bank's commitment is likely nonbinding.
Still, he was impressed by GB Science winning the AgCenter competition and by the company's sixth-place finish among more than 40 candidates for a medical marijuana license in Texas. In both states, GB Sciences beat Columbia Care, a New York health care company with a very good reputation.
Those results give some validity to what GB Sciences is trying to do, Brochstein said.
In the past two years, GB Sciences changed its name from Growblox Sciences and redirected its focus from a device for which the company was named that offered a controlled indoor growing environment to research and grow cannabis. It also changed chief executive officer, from Craig Ellins to Poss.
"They really started off trying to be a science company that was focused on their growing technology," Brochstein said. "They had something called the Growblox. They really don't talk about that anymore."
The shift to research and cannabis sales is probably due to Poss, whose experience includes senior management roles with public and private companies with sales ranging from $10 million to $450 million.
What GB Sciences is really trying to do now is become a pharmaceutical company, Brochstein said. Unfortunately, GB Sciences is trying to go the medical route without a lot of financial strength, he said.
The company has interests in two medical marijuana dispensaries and a licensed cultivation center in Nevada. GB Sciences harvested its first crop in May and generated its first revenue. GB Sciences expects the center will eventually generate $10 million in annual sales. Those sales could get a big boost on July 1, when recreational sales of pot begin in Nevada.
But Brochstein said the cultivation center will have to undergo quite a bit of expansion to reach the revenue target. At present, marijuana sales aren't capable of supporting GB Sciences' research efforts.
"My hope for them is that their close call in Texas and their apparent win in Louisiana will help them to raise more money … not only for the Louisiana project but more importantly some of the other things the company is doing in intellectual property," Brochstein said.
The company has a number of patents or patent applications for treatments for a variety of ailments, including heart, Parkinson's, Alzheimer's, Crohn's, and Huntington's diseases, dementia, arthritis, inflammatory bowel disease and asthma.
Under Louisiana's law, a limited number of illnesses can be treated with medical marijuana, including cancer, HIV and AIDS, cachexia or wasting syndrome, seizure disorders, epilepsy, spasticity, Crohn's disease, muscular dystrophy and multiple sclerosis.
The AgCenter announced Thursday that it had chosen GB Sciences from a field of seven potential vendors. The others were CB Medical LLC of Alexandria, Southern Roots Therapeutics of Baton Rouge, Columbia Care Louisiana LLC of New Roads, Citiva LA LLC of Mandeville; Fourrier House LLC of New Iberia; and Terah Holdings LLC of Shreveport.
LSU and AgCenter officials have said they cannot discuss the details of the proposals, although Agriculture College Dean Bill Richardson said the review panelists picked the best candidate. The LSU Board of Supervisors is expected to vote Thursday on GB Sciences.
In 2015, the Louisiana Legislature enacted a law allowing for the cultivation, production and use of medical marijuana, giving the task and licensing rights to the LSU AgCenter and Southern University Agricultural Center.
State law requires the medicine to be in a liquid, such as an oil or spray; capsules or pills; edible dosages; topical applications; trans-dermal patches; or suppositories.
Poss believes the company's research track record helped sway the AgCenter's decision.
"Realistically I think we're a little more advanced than others in the cannabis industry when it comes to research," Poss said.
In addition to its treatments, GB Science is also one of a few cannabis companies worldwide using tissue propagation to replicate its plants, Poss said.
The process involves placing small pieces of plants in nutrients to grow identical versions of plants with desirable traits.
"I think LSU sees an opportunity to help us commercialize that process," Poss said, "and perhaps another revenue stream offering tissue propagation services to the (cannabis) industry."
Jacob Irving, co-founder of Southern Roots Therapeutics, was disappointed the AgCenter picked an out-of-state company. Only Southern Roots is actually based in Louisiana, he said. The other applicants are based out of state and merely registered Louisiana corporations.
"While I think it's a shame that it's not going to a local team, I do think that Growblox is the best choice for Louisiana of the other foreign companies," Irving said.
John Barry, the head of Citiva Louisiana, said the reviewers apparently preferred a publicly traded company to a privately held startup. But he was encouraged by some of the evaluators' comments.
"Sometimes this stuff is never over. In two, three years, something may happen, and we're still in good standing with LSU," Barry said. "It all depends on what they want to do."
The five-year contract requires GB Sciences to pay the AgCenter $3.4 million, or 10 percent of gross sales, as well as a minimum of $500,000 a year in research funding. The AgCenter would retain 50 percent of the intellectual property rights resulting from the research.
Poss said the company is eager to work with LSU scientists and sees "immense opportunities" in both tissue propagation and developing novel plant strains.
GB Sciences must first finalize its banking arrangements with a Louisiana firm and negotiate a contract with LSU, Poss said. The process will take 30 days or so.
The company has already identified an office-warehouse site. It will take three to six months to add clean rooms — mobile home-sized structures likely to be built in Nevada — to grow the cannabis and an extraction area where the plants can be converted to oil, and the oil compounded and packaged into medicines.
GB Sciences expects to have plants in the ground before the end of the year, and medication to patients sometime between January and March.
The medical marijuana programs will be regulated by the Louisiana Department of Agriculture and Forestry, the Louisiana Board of Pharmacy and the Louisiana State Board of Medical Examiners.
The company's plans call for putting $300,000 into a nonprofit each year to educate Louisiana residents and doctors about what medical marijuana is, and the combinations of medicines that work for diseases, Poss said. This way doctors can have some basis for writing prescriptions.
"We feel like the key to success in Louisiana is educating physicians and patients on the benefits of cannabis, how it works, what the risks are, etc.," Poss said.
http://www.theadvocate.com/baton_rouge/news/business/article_9b36081a-5389-11e7-88e9-df61102ce44a.html
I thought the same myself in the near future (24 months) looks like a tight squeeze between profit and business expense. But in the long run looks like a winner.
Just my opinion but I think it's sour grapes on the part of CB Medical. GB Science has been very quiet they should have had their second harvest already. And their last PR they stated they were finishing Phase 2 of The Grow Up. But they've been quiet.
I am rereading GB Science news (July 5) of 1st harvest.
1) 1st harvest used only 45 lights.
2) On July 5th they now say they have 200 lights and by years end 600 lights.
3) They predict fiscal year projections (March 31) to happen by end of calendar year (Dec 31) 3 months ahead of schedule.
4) NICE!!! lol
Key Points:
"first cannabis crop harvest yielded 133 pounds of product from 45 lights"
"Within the next six months, we expect to complete the Phase II expansion of the facility from 200 lights to over 600 lights,"
"This will allow us to harvest approximately once a week and nearly triple the current production output."
"the company projects revenue of $2.8M through December 31, 2017, and will complete its full fiscal year projections (March 31, 2018) within the next few months."
http://www.prnewswire.com/news-releases/gb-sciences-sells-first-cannabis-harvest-and-officially-enters-revenue-mode-300482870.html
Last 45 minutes of trading started pushing the PPS up I wonder if Insiders know of news coming or even Second Harvest. Mr Poss has taken on a lot on his plate he needs to generate Revenue fast, IMO he needs to have the Las Vegas facility at full production this year he has too, he also needs to get LSU ready and growing by end of year he expecting to supply half of Louisiana with MMJ and California he mentioned he'll have licence by end of year coordinating with Los Coyotes. GLTA
I suspect it means merger is approved.
IMO I think Mr Poss has a more aggressive agenda than Mr Ellins. And I feel Mr Ellins was getting in the way so they gave him about 2.5 mil shares and let him retire. My gut feeling about GB Science, we will see the 28000 sq ft facility will be at full growing production and LSU production AND grow licence in California by end of this year. just my opinion.
I noticed Craig Ellins Owned 2,147,278 Shares of GB Sciences on (04/24/17)
Then retires (05/08/17)
Now Form 4 shows he owns as of (08/04/17) 5,761,000 shares.
He must have been given about 2.5 mil shares for retirement?
He has been unloading since (03-02-17).
https://www.sec.gov/cgi-bin/own-disp?action=getowner&CIK=0001366150
I don't know if Insiders are buying I'm just commenting on the article.
Hmmm an insider is buying Ellins shares. Maybe it was part of his exit he had to sell off his shares as part of retirement?
Craig Ellins Sells 100,000 Shares of GB Sciences Inc (OTCMKTS:GBLX) Stock
GB Sciences Inc(OTCMKTS:GBLX) insider Craig Ellins sold 100,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $0.26, for a total value of $26,000.00. Following the completion of the sale, the insider now directly owns 5,761,000 shares of the company’s stock, valued at $1,497,860. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
GB Sciences Inc (GBLX) traded up 1.953% during midday trading on Monday, reaching $0.261. The company had a trading volume of 287,746 shares. The company has a 50-day moving average of $0.28 and a 200-day moving average of $0.31. GB Sciences Inc has a 12-month low of $0.21 and a 12-month high of $0.65. The stock’s market capitalization is $33.32 million.
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About GB Sciences
GB Sciences, Inc, formerly Growblox Sciences, Inc, is engaged in developing and utilizing technologies in plant biology, cultivation and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates and cannabinoid therapies. It seeks to be a technology and solution company that converts the cannabis plant into medicines, therapies and treatments for a range of ailments.
https://rinconhillneighbors.org/2017/08/07/craig-ellins-sells-100000-shares-of-gb-sciences-inc-otcmktsgblx-stock.html
GB Sciences Joins With Los Coyotes Band Of Cahuilla And Cupeno Indians As It Enters The Gigantic California Cannabis Market
LAS VEGAS, Aug. 2, 2017/PRNewswire/ -- GB Sciences, Inc. (OTCQB: GBLX) is proud to announce an agreement with the Los Coyotes Band of Cahuilla and Cupeno Indians (Los Coyotes) for the purposes of establishing cannabis operations on the tribe's lands located near Warner Springs, California.
The nonbinding Joint Statement of Intent outlines plans to build and operate facilities to grow, manufacture, and distribute commercial cannabis and cannabis products in the State of California.
This is the first time a publicly traded US cannabis cultivation company and a federally recognized Native American tribe have announced a commercial cannabis venture in California.
GB Sciences will construct facilities on designated areas of tribal land for the business of cultivation, manufacturing and other commercial cannabis activities. Los Coyotes will receive 40 percent of the venture's net profits, of which 10 percent will fund tribal childhood education and elder assistance programs.
GB Sciences John Poss said, "The tribe and its leadership are ideal partners for GB Sciences. We share the same attitudes toward the business, the same intentions for the quality of the product, and the same positive goals for tribe. It is difficult to imagine a better way to enter the gigantic Californiacannabis market."
Los Coyotes Tribal Chairman Shane Chapparosa said, "We welcome this important partnership with GB Sciences. They are the ideal partners to facilitate Los Coyotes' move into California's cannabis market. In addition to producing much-needed revenue and jobs for the tribe, and the partnership will confer a distinct benefit to patients as we work with GB to develop strains with great therapeutic value."
The Statement is subject to definitive agreements between the parties to be completed and executed in the near future. Once consummated, the agreement between the Tribe and GB will result in a new entity, which would be initially funded by advances from GB, and which ultimately would be owned 60 percent by GB Sciences and 40 percent by the tribe, with GB being the manager of the operation.
The Statement also makes it clear that all applicable rules and regulations will be respected by both parties, and that appropriate, applicable licensure pursuant to, or replicating, the Medicinal and Adult Use Cannabis Regulation and Safety Act will be sought. Further, the Statement is clear that no steps will be taken that could possibly compromise or abrogate the Tribe's sovereign status.
http://www.prnewswire.com/news-releases/gb-sciences-joins-with-los-coyotes-band-of-cahuilla-and-cupeno-indians-as-it-enters-the-gigantic-california-cannabis-market-300498673.html
Link seams broken.
Worldwide Clinical Trials is developing a pre-IND plan and designing pilot studies for evaluating the effectiveness of GB Sciences’ proprietary cannabis-based therapeutic, says CMSO.
As part of the consulting services agreement, Worldwide Clinical Trials will evaluate the cannabis company’s intellectual property portfolio and will assist with pre-IND planning.
Worldwide’s chief medical and scientific officer, Michael F. Murphy, MD, Ph.D., told us the companies held a meeting earlier this year to formulate a strategy for approaching clinical development considering the available nonclinical data, GB Sciences’ pipeline status, the competitive environment, and the potential unmet clinical need.
GB Sciences' wholly owned subsidiary, Growblox Life Sciences, has filed three provisional patent applications to protect complex mixtures derived from the cannabis plant, which the company said address twenty-six different disease-specific formulations within its intellectual property portfolio.
Following the meeting, three disease-specific formulations were selected for further development. Moving forward, the Morrisville, NC-based contract research organization (CRO) will focus on developing two formulations for pilot human studies in Nevada. It will also develop the third formulation for preclinical studies prior to an IND filing for an official FDA-registered clinical trial.
“Worldwide has never conducted a cannabis study,” Murphy said, noting that the field is relatively immature regarding good clinical practice (GCP) investigations in cannabis.
The company has, however, conducted GCP studies in all the clinical targets in which GB sciences has expressed interest and has provided consulting services for cannabis programs for two other companies in addition to GB Sciences. “We estimate there are approximately 30 companies active in the space,” Murphy added.
“These companies [in this space] have different approaches that either exploit unique devices (or other methods of delivery), or, they examine different active entities within the cannabis plant – the range of clinical targets is impressive and would span all of the therapeutic areas in which Worldwide has competency,” he explained.
According to Murphy, the opportunities and challenges associated with the GB portfolio will share many commonalities with other pharmaceutical companies. These similarities will provide some “predictability to the milestones and timelines likely to be encountered during clinical research, and enables Worldwide to participate in advancing solutions in advance of program initiation,” he added.
GB Sciences has established discovery and manufacturing capabilities within their organization, and as such, Murphy explained Worldwide will assist in providing access to clinical trial methods and operations as a part of the team required for clinical development.
“We will specifically help to inform the pre-IND plan for the development of cardiovascular therapies and to design pilot studies for evaluating the effectiveness of both Parkinson’s disease and chronic pain formulations,” he added.
Next steps for the CRO include introducing the therapeutic opportunities at GB Sciences to others within the organization and to acquaint its operational and regulatory staff with the GB Science rationale and potential clinical utility of the products under development– and, as Murphy said, to “help GB Sciences move toward clinical evaluation as expeditiously and efficiently as possible.”
http://mobile.outsourcing-pharma.com/Clinical-Development/Worldwide-Clinical-Trials-advancing-cannabis-based-formulations
Are referring to the growblox growing units?
Your not saying gb sciences under Mr Poss is a hoax?
"GrowBlox was just a hoax"
Good point, I didn't think of that fact.
GB Sciences has decided to focus its drug development forces on three cannabinoid therapies in its pipeline, and it has tapped Worldwide Clinical Trials to assess its intellectual property portfolio and to help with pre-IND planning.
Through its subsidiary Growblox Life Sciences formed last July, the company isplanning pilot human studies in Nevada for two formulations for Parkinson’s disease and chronic pain, respectively, with future IND-enabled clinical trials in other states; while another cardiovascular candidate will be directly put to FDA-registered IND after preclinical studies.
Sales of whole marijuana for nonmedical use have been legalized in Nevada since July 1 after state legislators passed a bill last November, while access to medicinal cannabis allowed among people with certain conditions within the state dates back to 2001.
Instead of whole plants, the drug candidates that the life sciences arm of GB Sciences develops are actually extractions. The company touts that its chronic pain and Parkinson’s formulations do not contain delta-9 tetrahydrocannabinol (THC), the primary psychoactive ingredient in marijuana, and thus are less likely to be abused.
Previously known as Growblox Sciences until a name change last December, GB filed its first patent applications to the U.S. Patent and Trademark Office last October. The application covers cannabis-derived mixtures of formulations for neuroprotection, intended for treating neurodegenerative diseases like Parkinson’s, Alzheimer’s and Huntington’s. The company later filed two more patent applications: one in February, covering cannabinoid therapies for inflammatory disorders, and another one in May for myrcene-containing mixtures for chronic pain and heart diseases.
After scientific validation and market analysis, the cannabis specialist has decided to first pursue the development of three selected formulations out of all 26 it has. Worldwide will provide pre-IND consulting services, led by Michael Murphy, M.D. Ph.D., the CRO’s chief medical and scientific officer, who was instrumental in selecting the top formulations from GB Sciences’ growing portfolio.
That doesn’t mean GB Sciences intends to manage the studies on its own. Worldwide is bidding on the pilot trials and some of the preclinical work on cardiovascular indications, GB Sciences’ CSO Andrea Small-Howard, Ph.D., told FierceBiotech. She said that GB is also taking bids from other CROs over the next few months to try to find the perfect matches in different therapeutic areas, but added that Worldwide will likely be among the finalists given their close relationship.
“Worldwide has been instrumental in establishing our clinical trial designs across multiple disease categories,” said Small-Howard. “They have breadth of clinical expertise in their team that is unparalleled among CROs working with small companies.”
http://www.fiercebiotech.com/cro/gb-sciences-to-test-cannabis-based-therapies-human-taps-worldwide-clinical-trials
How was Kevin Quirk CEO able to privatize Harvest Soul when it was a subsidiary of Fresh Promise Foods? When did he privatized it?
Nope, not a joke we are wondering the same thing on FB page. How are they doing a 1 to 1 share purchase? Fitx has 4.8 bil AS.
Leafly caught up with Leslie Bocskor
https://www.leafly.com/news/industry/leslie-bocskor-nevada-best-regulatory-framework-world
As Nevada prepared to open its first adult-use cannabis stores on July 1, Leafly caught up with Leslie Bocskor, the Las Vegas investment banker and founding chairman of the Nevada Cannabis Industry Association. An early member of the ArcView InvestorNetwork, Bocskor was recently named vice chairman of GB Sciences, a cannabis-based pharmaceutical research firm based in Las Vegas.
Leafly: What does recreational cannabis mean for Nevada?
Bocskor: It means we’re going to see a gradual end of the black market.
It’s great for business. It’s great for tax revenue. It’s great for compassionate access for people who aren’t even getting medical marijuana.
Getting it out of the black market, though, is the heart of it. By having a regulated market, we’re making sure that we’re not sending money out of the country to criminal organizations. That’s what resonates for me.
Leslie Bocskor: Nevada’s testing regs will result in “the cleanest cannabis ever produced.” (Photo courtesy GB Sciences)Can Nevada be a model for recreational cannabis in America?
People regard the Nevada framework as the best regulatory framework in the world. Nevada has a history regulating things other jurisdictions don’t — gaming, mixed martial arts, prostitution and escort services.
RELATED STORY
Legal Cannabis in Nevada: What to Expect
Nevada’s cannabis regulatory framework has been implemented in such a commonsense way. Testing for medical and recreational is the same. Colorado medical is not tested, but recreational is tested. Nevada has the most stringent testing: testing for microbial contamination, biological contamination, mold, mildew, fungus, heavy metals, pesticides, fungicides in parts per million and parts per billion. It’s the cleanest cannabis that’s ever been produced because of the testing regulations. If our food was tested as stringently as Nevada cannabis is tested, we’d have less food borne illnesses than we do.
Regulating cannabis is not like handling plutonium. Recreational cannabis is not going to cause the world to open up and start swallowing people. It’s going to be an enormous positive for Nevada. It’s going to be an enormous positive for
Blue Dream Kush Cups now available.. Hmmmm??
Blue Dream was Gb Science 1st harvest. Just speculating.
http://kushcups.com/details/
http://www.prnewswire.com/news-releases/gb-sciences-partners-with-kush-cups-to-produce-cannabis-infused-keurig-compatible-k-cups-brewed-coffee-and-infused-tea-300437177.html
Have fun with this.
http://drinkgiddyup.com/press.php
Growblox Sciences, Announces Opening Of Its First Medical Marijuana Dispensary: "Showgrow" In Las Vegas, Nevada
LAS VEGAS, June 28, 2016/PRNewswire/ -- Growblox Sciences, Inc. (OTCQB: GBLX) is pleased to announce the Grand Opening on Friday, June 24, 2016, of Showgrow, a medical marijuana dispensary located at 4850 S. Fort Apache Rd in Las Vegas, Nevada. Growblox has secured 20% of the dispensary shelf space of Showgrow for the exclusive display and marketing of its diverse cannabis strains. Growblox also has certain rights through Showgrow to make home deliveries of its products. Growblox owns a 10% interest in GBS Nevada Partners LLC ("Nevada Partners"), which wholly owns Showgrow.
Nevada Partners contracted with GreenLight District Holdings, LLC, an industry leading dispensary operator, to manage the daily operations of Showgrow.
Growblox Board of Director Leslie Bocskor comments, "We are very excited that Growblox is entering the Nevada retail market, as we know local population and visitors are at the global crossroads of product awareness, efficacy, and best standards of operations."
Growblox Founder and CIO Craig Ellins said, "The smooth design and construction of Showgrow affirms our judgment in choosing the prominent local business people who own the majority of and manage Nevada Partners. Their dedication and expertise enables Growblox to have a secure distribution channel while pursuing our ultimate goals of developing and patenting medicines derived from cannabis that can benefit millions of patients around the world."
Nevada Partners Manager Jim Meservey said, "It is extremely gratifying to have successfully completed the laborious process of regulatory compliance and careful construction that enabled us to open our state of the art facility today. We look forward to the opportunity to prominently display and market Growblox products and believe that Growblox's cannabis formulations will be game-changers."
Growblox CEO John Poss said, "This milestone ensures that the Company has a major Las Vegasdistribution channel for our soon to open 28,000 sq. ft. cannabis cultivation facility in Las Vegas. Our Nevada Partners have done a magnificent job in building out a first class facility, Showgrow, in an excellent location, and we are quite certain that this facility will be a success from day one and for the foreseeable future.
CEN Biotech, Inc. terminated the forward triangular merger
"On June 27, 2017, CEN Biotech, Inc. terminated the forward triangular merger agreement dated as of April 11, 2017"
https://www.sec.gov/Archives/edgar/data/1653821/000143774917012007/cenb20170629_8k.htm
Nevada rec sales Saturday with potential to be country’s biggest market.
Nevada rec sales set to start Saturday with potential to (temporarily) be country’s biggest market.
RENO, Nev. — A lengthy legal battle over the alcohol industry’s exclusive rights to distribute marijuana in Nevada won’t affect the state’s plans to begin recreational pot sales at medical dispensaries on Saturday, state officials said.
The Nevada Tax Commission also approved emergency regulations Monday with stricter labeling and packaging requirements aimed at protecting children. Among other things, the rules prohibit edible pot products modeled after products marketed primarily to children or bearing likenesses of animals, fruit or cartoon characters.
The marijuana industry is eager for the fast-approaching July 1 kickoff of recreational sales in Nevada, where demand from tourists is expected to eventually make the state’s market bigger than other states where it’s legal, including Colorado, Oregon and Washington.
The state intends to appeal a Carson City judge’s order that only alcohol wholesalers can obtain pot distribution licenses, Stephanie Klapstein, Taxation Department spokeswoman, confirmed Monday.
It won’t happen on an emergency basis, and it won’t affect retail sales starting Saturday, Klapstein said.
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Nevada liquor lobby battles medical marijuana distributors with July 1 sales start at risk
State regulators argued they have the authority to issue distributor licenses to existing medical dispensaries if there aren’t enough applicants from the alcohol industry to meet demand. Judge James Wilson disagreed.
“Nobody said they are going to just roll over and accept the court’s finding. It’s a fairly big issue,” said Michael Willden, chief of staff to Gov. Brian Sandoval.
But that fight is for another day, he said, because Sandoval has decided they don’t want to pursue that matter through an emergency regulation.
In the meantime, properly licensed medical dispensaries can sell off their stockpiles for recreational use and expect to have enough supply to meet demand for three weeks or longer. The state anticipates at least some alcohol wholesalers will be licensed to distribute pot by then.
“I get the sense that most, if not all, dispensaries will have sufficient inventory to serve retail customers until distributors are up and running,” Nevada Dispensary Association President Andrew Jolley said Monday.
Nevada officials estimate 63 percent of recreational pot sales will go to tourists. More than 40 million tourists visited Las Vegas last year.
“I think it is going to be the largest cannabis market in the country until California gets its sales going,” said Nancy Whiteman, co-owner of Colorado-based Wana Brands. The firm sells edible marijuana products through a Nevada affiliate to about half of the Silver State’s 60 licensed medical marijuana dispensaries.
California law prohibits recreational sales until at least Jan. 1, 2018, and industry experts anticipate Californians will be among those travelling to neighboring Nevada to take advantage of recreational sales starting Saturday.
“I think there will be long lines,” Whiteman said. “I think because of the sheer historical precedent and the novelty of it that people will want to be a part of that first day.”
Medical dispensaries licensed to sell recreational pot must comply with the new regulations regarding children, including labels that state, “THIS IS A MARIJUANA PRODUCT,” and “Keep out of reach of children.”
Whiteman said her company has about 15 edible labels it must redesign before those products can be sold in Nevada, primarily gummies.
“We are frantically having our graphic people rework those as we speak,” she said.
Clint Cates, director of compliance for Mainstream Partners and Kynd Cannabis Co., said his company is changing molds used to produce chocolates infused with marijuana to comply with the new rules.
That adds to the firms’ wholesale costs, “but we knew that was coming because we are the strictest regulated industry in the country,” Cates said. “This is the ‘big boy’ state. If you are the ‘who’s who’ of the cannabis industry, you are in Nevada because of our tourism.”
http://www.thecannabist.co/2017/06/27/nevada-marijuana-legal-sales/82501/
Nev.— Sin City will launch its latest legal vice by week's end.
http://www.pressdemocrat.com/business/7144829-181/nevada-dispensaries-prepare-for-recreational
RENO, Nev. — Sin City will launch its latest legal vice by week's end.
Lines are expected Saturday outside some medical marijuana dispensaries in Las Vegas and other Nevada cities that will begin selling pot for recreational use for the first time since voters approved it in November.
It's the fastest turnaround from the ballot box to retail sales of any of the seven other states and the District of Columbia where pot is legal.
It comes after an ongoing legal battle over the drug's distribution created uncertainty but ultimately won't affect the kickoff.
Here's a look at what's expected this week:
___
WHAT WILL HAPPEN SATURDAY?
Anyone who is 21 with a valid ID can buy up to an ounce of pot, one-eighth of an ounce of edibles or concentrates. State regulators have notified at least 17 retail outlets that they have been approved for recreational sales and as many as 40 could be licensed by Saturday.
Some outlets plan grand opening events at 12:01 a.m., and one in Las Vegas is having a barbecue with raffle drawings. Nevada Dispensary Association President Andrew Jolley isn't sure what kind of turnout to expect but said, "We are anticipating a lot of very happy customers."
___
WHAT'S THE BIG DEAL?
Industry experts predict Nevada's market will be the nation's biggest, at least until California plans to begin recreational sales in January.
Nevada sales should eventually exceed those in Colorado, Oregon and Washington state because of the 45 million tourists who annually visit Las Vegas. Regulators anticipate 63 percent of customers will be tourists.
"I don't think we've ever seen anything quite like what Nevada is going to look like just because of the sheer volume of tourism in the state," said Nancy Whiteman, co-owner of the Colorado-based Wana Brands, which makes edible pot products.
However, it's not clear how many people know pot is about to be legal. The law bans marijuana advertising on radio, TV or any other medium where 30 percent of the audience is reasonably expected to be younger than 21.
___
WHERE CAN I LIGHT UP?
It's illegal in public places, including parks, sporting events, moving vehicles, casinos, hotels, concerts, festivals and while you're walking down the street. So is drinking alcohol outdoors on the Las Vegas Strip, which generally isn't enforced unless someone is causing trouble. It's not clear yet if pot will be handled similarly.
People have been allowed to use marijuana in private homes since Jan. 1, but there has been nowhere to legally buy it without a medical card. Where you can buy recreational pot will change Saturday, but not where you can smoke it.
Using pot in public can get lead to a $600 ticket. It's OK to smoke on the front porch of your home, but consumption is prohibited on U.S. property, from national forests to federally subsidized housing.
___
WHY DO HOTEL-CASINOS BAN POT?
They operate under federal licenses, and the U.S. government outlaws the drug. That means tourists will have a hard time finding a place to use it legally despite being the biggest expected piece of the market.
It's one reason Whiteman and others think edibles will be most popular with tourists, who can eat the goodies almost anywhere without attracting attention, including casino floors where cigarettes are allowed but pot-smoking is not.
___
COULD THAT CHANGE?
Legislation to establish marijuana clubs and other places to smoke pot failed this spring but will be revisited by lawmakers in 2019. State Sen. Tick Segerblom, a leader of the legalization push, anticipates worldwide advertising urging tourists to "come to Nevada and smoke pot — so we must provide a place to do so."
One Denver-based entrepreneur already has set up cannabis-friendly condos just off the Las Vegas Strip that allow pot smoking but not cigarettes. There's also a "Cannabus" tour that offers riders a peek inside dispensaries, a grow facility and a swag bag filled with rolling papers and other gifts.
___
SHOULD BUYERS BEWARE?
Related Stories
Nevada's on-again, off-again marijuana sales back on
7 tips for the marijuana newbie
The drug's potency is much higher than stuff sold on the streets a couple of decades ago. Edibles are the biggest concern because the effects can sneak up on pot newbies, who may take too much without realizing they are slowly getting high.
All packaged edibles, from gummies to brownies, must carry labels warning that the intoxicating effects may be delayed for two hours or more and that users should initially eat a small amount.
___
WHAT ABOUT THE LEGAL BATTLE?
A court order has denied pot distribution licenses to anyone other than the alcohol industry, which the state intends to appeal. The ballot measure passed by voters says liquor wholesalers have the exclusive right to transport marijuana from growers to retailers, the only legal pot state with such an arrangement.
But existing dispensaries can sell their stockpiled inventory for recreational use until they run out, with most thinking they can last three weeks or longer. That means retail stores could have a supply shortage as August approaches.
By then, however, the state should have issued at least some distribution licenses to alcohol wholesalers.
"I get the sense that most, if not all, dispensaries will have sufficient inventory to serve retail customers until distributors are up and running," Nevada Dispensary Association President Andrew Jolley said
U.S. Government Finally Admits Marijuana Really Does Kill Cancer Cells
The idea that cannabis kills cancer cells seems to no longer be a conspiracy theory in the United States. With this information, can any state legitimately say no to medicinal marijuana?
Or could it even be considered a preventative herb to avoid getting cancer?
Amy Willis with Metro says that the US government has added a page on the use of cannabis and cannabinoids to their official cancer advice website.
Willis advises, “The National Cancer Institute, part of the US Department of Health, now advises that ‘cannabinoids may be useful in treating the side effects of cancer and cancer treatment’ by smoking, eating it in baked products, drinking herbal teas or even spraying it under the tongue.”
The official government site has a long list of medicinal uses of cannabis, including: Anti-inflammatory activity, pain relief, anti-anxiety, stress relief, anti-tumor, antiviral activity and relieving muscle spasms caused by multiple sclerosis, and many many more.
The site goes on to talk about how cannabis has been proven to destroy cancer cells in lab experiments.
Willis continues, “Several scientific studies have suggested this in the past, and in April this year the US government’s National Institute on Drug Abuse revised their publications to suggest cannabis could shrink brain tumors by killing off cancer cells.”
If the United States government is finally willing to admit these benefits and that cannabis has been proven to kill cancer cells, then will other western nations follow suit?
If good health and decreasing cancer rates is important to you, then contact your government and tell them about the great benefits of cannabis – a natural herb that has a long list of benefits without the side effects of man-made cancer treatments.
Source:
https://www.cancer.gov/…
http://www.anonews.co/marijuana-kills-cancer/
Recreational marijuana sales are expected to begin in Nevada...
SALT LAKE CITY -- Recreational marijuana sales are expected to begin in Nevada on July 1, but they won't likely be anywhere near the border with Utah.
A spokeswoman for the Nevada Department of Taxation, which will oversee recreational cannabis sales in that state, told FOX 13 on Friday it still intended to allow sales to begin next week. It follows a legal challenge by the liquor industry, which has sought to get involved in recreational marijuana sales. (The judge sided with the liquor industry, which raised questions if sales would be pushed back beyond July 1.)
RELATED: Want to go to Nevada to buy recreational marijuana? What you need to know
As many as 82 places have been approved to have recreational marijuana licenses, said Nevada Department of Taxation spokeswoman Stephanie Klapstein. Those include dispensaries, cultivators and testing labs.
The list of licensed dispensaries is expected to be published next week, she said.
Nevada voters last year approved recreational marijuana sales and the legislature just finished hammering out the laws. It will remain illegal to consume marijuana in public.
Licensed dispensaries will sell to Utahns and adults in any other state, Klapstein said, but it remains illegal to transport across the border.
While aware of recreational sales in Nevada, Utah Department of Public Safety Commissioner Keith Squires told FOX 13 they were not planning to camp out on I-15 or I-80 to bust people who may try to bring a little back.
"No special enforcement just based on the fact that another state's providing an opportunity for recreational marijuana," he said. "We will be aware of that. We're always looking for that as we interact with individuals that are traveling on the highways."
Squires said they would be focused on DUI and impaired driving, whether it was from alcohol or drugs. Still, he cautioned that the Utah Highway Patrol would not be shirking its duties.
"Utah laws are still being enforced and marijuana possession and use is still illegal," he said.
Possession of personal quantities of marijuana is a misdemeanor crime. Any more than that could fall under drug trafficking, which is a felony and, potentially, a federal crime.
The Arizona Department of Public Safety, which patrols a stretch of I-15 through the Virgin River Gorge from St. George to Mesquite, refused to comment on any enforcement plans.
Meanwhile, the Mesquite City Council is contemplating a moratorium on recreational marijuana sales -- at least until it can get ordinances in place to regulate it.
"To go on the record, I am against recreational marijuana," Mesquite City Councilman David Ballweg told FOX 13. "But my main objective is the city has to have regulations to control it."
Ballweg is proposing up to 90 days from when Nevada authorities implement formal rules, allowing the city time to craft ordinances.
"Mesquite has some unique challenges that a lot of other areas in southern Nevada and Clark County don't have," he said, referring to their proximity to the Utah border.
The Mesquite City Council will consider the resolution on Tuesday. The moratorium could affect the city's lone medical marijuana dispensary which has expressed an interest in selling recreational cannabis.
West Wendover has neither a medical nor recreational facility. The city council recently voted unanimously to begin drafting ordinances to potentially allow sales in their community, if they so desired. That ordinance is expected to have a final vote in a couple of months.
http://fox13now.com/2017/06/23/nevada-plans-recreational-marijuana-sales-july-1-utah-doesnt-plan-special-enforcement/
Nevada’s regulators may have found a way around a judge’s order....
RENO, Nev. — Nevada’s marijuana regulators may have found a way around a judge’s order that threatens to block the state’s first recreational pot sales scheduled to begin next month.
Gov. Brian Sandoval has signed onto an emergency regulation intended to allow recreational sales to begin July 1 at some existing medical dispensaries.
Nevada Department of Taxation spokeswoman Stephanie Klapstein says the agency plans to issue recreational retail licenses next week even if it doesn’t approve any distribution licenses caught up in a Carson City judge’s court order.
She told The Associated Press that under the emergency regulation, any legally licensed retailer that has inventory left over from the medical program would be allowed to sell the pot products for recreational use effective July 1.
That could include as many as 25 medical dispensaries in the Las Vegas-area and four in Reno.
https://www.washingtonpost.com/national/nevadas-on-again-off-again-marijuana-sales-back-on/2017/06/23/4ecf4e70-582d-11e7-840b-512026319da7_story.html?utm_term=.073b4846ba6b
THE LEAFLY LIST:NEVADA 2017 Check out #6
6. ShowGrow Las Vegas
4850 S. Fort Apache Rd Suite 100 Las Vegas, NV
(Courtesy of ShowGrow)
ShowGrow lands squarely among Las Vegas’s premier medical cannabis dispensaries. With a gorgeous showroom and a knowledgeable staff, ShowGrow supplies a friendly atmosphere where patients can learn about and acquire quality flower and infused products alike.
Index: 91.77
What People Are Saying:
“This place is one of the best locations in Vegas! No one beats their BOGO and deals! My favorite place by far!! Lauren and Alex are super cool you girls are why I come back! Thanks!”—MargaritaC4
https://www.leafly.com/news/leafly-list/leafly-list-nevada-cannabis-summer-2017
Ten bagger would be awesome not sure we'd see that but I do agree by end of year we do see a significant share price increase. Mr Poss is moving along nicely and doing a good job.
Legal Marijuana and CBD-based Products Increasing Demand Continues to Drive Revenue Growth
PALM BEACH, Florida, June 20, 2017 /PRNewswire/ --
Sales and revenue growth in the blazing hot CBD-based and legal marijuana markets within the rapidly growing cannabis industry continue to rise with Acrview Market Research projecting as much as $20 Billion in sales within four short years. Encouraged by the growing international acceptance of cannabis and legal marijuana uses, expansion and operations continue to be strong for companies such as: PotNetwork Holding Inc. (OTC: POTN), OWC Pharmaceutical Research Corp. (OTC: OWCP), GB Sciences, Inc. (OTC: GBLX), Medical Marijuana Inc. (OTC: MJNA) and Cannabis Science, Inc. (OTC: CBIS).
PotNetwork Holding, Inc. (OTC: POTN) is pleased to announce that its wholly-owned subsidiary, Diamond CBD, Inc., after reporting a string of record-breaking monthly revenues, reports once again that it has surpassed projections yet again as the result of heightening demand for its products. "To the surprise of many, our momentum has not plateaued. Our continued upward trend in sales is the result of an offering of an outstanding range of excellent products supported by a determined, tireless and goal-oriented team. As we conclude a succession of very successful trade show events, we continue to be exceedingly pleased with the results," stated Maria Gomez, Regional Vice President of Sales of Diamond CBD, Inc. As a result of the timing of Diamond CBD's consumables growing popularity, unsurpassed product quality, and numerous event presentations, consumer and trade enthusiasm for Diamond CBD's products continue to escalate and drive sales. Read this and more news for PotNetwork Holding athttp://www.marketnewsupdates.com/news/potn.html.
Diamond CBD recently disclosed that for the month of April 2017the Company had accomplished a massive spike in revenues year over year. Similarly, no momentum was lost in May as over $1,000,000 in monthly sales has been reported. These continued record results can be attributed to Diamond CBD's aggressive strategy since the first of the year of showcasing both its product line and highly successful branding strategy at numerous widely recognized industry events and investor conferences.
Having recently surpassed the milestone of distributing 1 million Chill Gummy edibles, and having its CBD products distributed in approximately 10,000 retail locations nationwide, the Company continues to report ongoing heavy order flow. Moreover, as a result of the Company's strategic publicity efforts and high-profile presence at major trade shows and conventions, the Company anticipates continued strong growth in its customer base, brand recognition and overall market preference for its products.
In other Cannabis-related developments and market trading activity of note:
OWC Pharmaceutical Research Corp. (OTC: OWCP) closed up 5.74% on Monday after trading over 1.2 million shares. The company recently announced it has engaged CFN Media to conduct a 2-month investor and market visibility program beginning on June 15, 2017. "We are excited to be working with OWC Pharmaceutical Research once again," said Frank Lane, President of CFN Media. "The Israel-based company has made tremendous strides in developing its clinical programs, including its topical cannabinoid-based psoriasis cream that could provide much-needed relief to millions of sufferers worldwide."
GB Sciences, Inc. (OTC: GBLX) closed up 1.76% on nearly 900,000 shares traded on Monday. GB recently announced it has won the bid for LSU Solicitation - SFO 0000000165 for the cultivation, production and use of medical marijuana. The awarding of the final contract is contingent upon: Securing of a Louisiana-based financial institution and Final approval by the Louisiana State Board of Supervisors.
Medical Marijuana Inc. (OTC: MJNA) recently announced it garnered extensive media coverage from the 4th Annual Cannabis World Congress and Business Expo in New York, which took place onJune 14-16. Medical Marijuana, Inc.'s CEO Dr. Stuart Titus spoke to several television and radio stations about the therapeutic properties of cannabis, recent breakthroughs in medical cannabis research, and the Company's groundbreaking Real Scientific Hemp Oil™ (RSHO™) and zero-THC Real Scientific Hemp Oil-X™ (RSHO-X™).
Cannabis Science, Inc. (OTC: CBIS) closed up on Monday at $0.0512trading over 12.9 Million shares by the market close. Cannabis Science, Inc. takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatm
http://www.prnewswire.co.uk/news-releases/legal-marijuana-and-cbd-based-products-increasing-demand-continues-to-drive-revenue-growth-629643743.html
Hell yeah he was. Wasn't he in charge of Growlife when they were suspended and sent to grey mkt?
Marijuana compounds show promise in treatment of cardiac disease.
https://m.medicalxpress.com/news/2017-01-marijuana-compounds-treatment-cardiac-disease.html
A Nevada company is hoping to develop new medicines for heart failure using compounds in marijuana and a novel therapy identified by a University of Hawai?i at Manoa researcher.
Dr. Alexander Stokes, assistant research professor in the Department of Cell and Molecular Biology at the UH John A. Burns School of Medicine, obtained a U.S. patent for his novel therapy in 2015. The patent claims the cannabinoid receptor TRPV1 can be regulated therapeutically by plant-based cannabinoids.
Cannabinoids include psychoactive and non-psychoactive compounds derived from marijuana, both of which have medicinal properties. They exert their effects inside cells after binding to receptor proteins in the cell membranes, such as TRPV1 and the classical cannabinoid receptors, CB1 and CB2.
Pharmaceutical development company GrowBlox Life Sciences LLC, a wholly owned subsidiary of GB Sciences Inc., obtained the license for Stokes' intellectual therapy last December from Makai Biotechnology LLC, a Hawai?i-based cardiovascular therapy company founded by Stokes.
"Cardiovascular disease is the leading global cause of death, accounting for more than 17.3 million deaths per year, a number that is expected to grow to more than 23.6 million by 2030," said Dr. Stokes. In the U.S, he explained, this equates to one in three deaths, about one every 40 seconds, and costs the country approximately $316.6 billion a year.
Patients urgently need new drugs that can prevent or reverse the stages of cardiac disease and heart failure, according to Dr. Stokes. He further explained that TRPV1 is clearly a major cellular receptor involved in the progression to heart failure, and there is great potential for the new, proprietary mixtures within the GB Life Sciences portfolio to regulate the TRPV1 cannabinoid receptor.
GB Sciences said licensing the TRPV1 patent is a major step in its commitment to discovering new drugs that interact with the non-classical cannabinoid receptors, in addition to binding to the better characterized CB1 and CB2 cannabinoid receptors.
"Our vision of novel, patentable cannabis-based formulations in the treatment of major diseases is now married with a proven drug target for modulation of adverse outcomes in cardiovascular disease," said Dr. Andrea Small-Howard, Chief Science Officer of GB Sciences.
Cannabinoids in native plant extracts exerted a more significant effect on TRPV1 receptors than purified cannabinoids in published research reports.
"GB Sciences believes its cannabis-plant-based approach may provide additional clinical benefits to patients due to the 'entourage effect.' In addition, the side effect profiles of cannabis-based therapies have generally been well tolerated," said Dr. Small-Howard. The "entourage effect" refers to the theory that some cannabis compounds have greater effects on the human body when combined with other compounds than when given alone.
Said GB Sciences CEO John Poss, "This license is an important step in our company's march to successful drug discovery. We are very proud of Dr. Small-Howard and her team, and we expect results from this effort that will enable the company to do well by doing good for literally millions of cardiac patients around the world."
Sorry to re-inform BOTH of you Trademark are Owned BY Creative Edge 2 "YEARS AGO"
LOL thats funny "A simple, easily verified FACT"
http://www.otcmarkets.com/stock/FITX/filings
Dec 4, 2015 Research Report - Assignment of trademark
http://www.otcmarkets.com/financialReportViewer?symbol=FITX&id=148346
"TRADEMARK ASSIGNMENT AGREEMENT
This Trademark Assignment Agreement (the “Agreement”) is entered into as of June 1,
2015 between the following two parties:
The Assignor: James L. Robinson
The Assignee: Creative Edge Nutrition, Inc.
WHEREAS, the Assignor, (“JLR”), owns the trademarks as defined in Appendix 1 and
all GIDDY UP trademarks that may not be listed (the “Trademarks”).
WHEREAS, the Assignee is a public company under the name Creative Edge Nutrition,
Inc. (FITX);
WHEREAS, the Assignor agrees to assign the Trademarks to the Assignee and the
Assignee agrees to accept the assignment of the Trademarks.
NOW, THEREFORE, in consideration the mutual covenants, representations,
warranties and obligations set forth in this Agreement, and the parties hereto further agree
as follows:
1. Transfer of Trademarks
The Assignor agrees to to this transfer and is the registered owner of the Trademarks
into the Assignee and the Assignee agrees to accept the change of the registered
owner of the Trademarks'
Sorry, "wrong" James does not own trademarks. His name is on there as CEO of Creative Edge. Creative Edge corporation owns the trademarks. That's what the 200 million shares purchased. Besides you don't think James went along with this? He had huge voting rights this couldn't have happened without his consent. So I'm not worried about trademarks even if that were a problem. James will do just fine with his 200 million shares of fitx and 285714k shares of Cen bio in his 70s.
Bull, in 2 1/2 years all he did was file 2 trademarks. 30 minuntes of work on the computer. The Syrups and artwork were already done before he became CEO of Creative Edge. HE DID NOTHING!
"GB Sciences Inc. scored the highest overall score among seven potential vendors"
The LSU AgCenter has selected a New Orleans affiliate of a Las Vegas company for a proposed contract to produce a medical marijuana product for qualifying patients in Louisiana.
GB Sciences Inc. scored the highest overall score among seven potential vendors and was selected to move forward with contract negotiations, pending approval by the LSU Board of Supervisors.
GB Sciences Inc. is a publicly-traded medical cannabis company based in Las Vegas that has patented a number of compounds and developed techniques for growing medical marijuana. It has applied for licenses in Texas and California.
GB Sciences Inc. will work under the LSU AgCenter license in compliance with state law and rules established by regulatory agencies.
In 2015, the Louisiana legislature enacted a law allowing for the cultivation, production and use of medical marijuana. This law provides that the LSU AgCenter and Southern University Agricultural Center may be licensed for the production of medical marijuana. The medical marijuana programs will be regulated by the Louisiana Department of Agriculture and Forestry, the Louisiana Board of Pharmacy and the Louisiana State Board of Medical Examiners.
No taxpayer dollars will be spent on the project, estimated to cost as much as $11 million.
The company would first build a modular facility, adding units of growing capacity as needed, John Poss, CEO of GB Sciences, said in a recent Advocate interview. Eventually, GB would replace the first facility with a larger, permanent and more technologically sophisticated structure.
The company wants to partner with a university because GB Sciences is research-oriented, he said.
The company expects to benefit from the AgCenter's expertise in bringing scientific discoveries to market. GB Sciences also hopes to begin phase I clinical trials on some of its compounds within a year, testing them for patient safety, dosages and side effects. University Medical Center New Orleans is perfect for that, Poss said.
The AgCenter collaborated with multiple university departments, including the President’s Office, Finance and Administration, and Procurement, in addition to working with external consultants to review similar proposals from other states with medical marijuana programs. Each qualifying offer was reviewed by a selection team composed of five members with expertise in administration, finance, medicine, botanical research and analytical chemistry, with oversight from LSU Procurement.
Poss said his firm's proposal sets aside $300,000 a year for continuing medical education.
Once patients and doctors can learn about the medically beneficial chemical compounds in cannabis, patient numbers will rise, along with revenue, he said.
http://www.theadvocate.com/baton_rouge/news/business/article_a6209752-51e2-11e7-a327-032ba132d9a7.html
James Robinson FIRED!!!