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Pablo Zuanic, Cantor Fitzgerald says REBOUND 2023!!
Good article, lot of information:
But not everyone views the decline in California’s cannabis sales as a harbinger of greater turmoil in the industry. Pablo Zuanic, an analyst at Cantor Fitzgerald who covers cannabis, believes that mature markets like California experienced a revenue boost in 2020 and 2021 thanks to Covid-19. Now with lockdowns and stimulus checks a distant memory, inflation is also adding to the decline.
Zuanic does allow that “structural issues” such as high taxes and the illicit market contributed to the decrease last year, but he expects 2023 to rebound. He notes that there was “only” an 8% drop after a 23% jump in 2021 and a 68% increase in 2020. And, for those paying attention—despite an annual decrease—California is still the country’s biggest, and best, weed market. “We expect the market to continue to grow,” Zuanic wrote to Forbes in an email.
Michigan Attorney General Pushes Congress To Pass Marijuana Banking Bill After Issuing Warrants
POLITICS
Michigan Attorney General Pushes Congress To Pass Marijuana Banking Bill After Issuing Warrants For Dispensary Break-Ins
Published 2 days ago on March 23, 2023By Kyle Jaeger
The attorney general of Michigan says that a string of break-ins at marijuana dispensaries in the state underscore the need for Congress to pass cannabis banking reform.
Attorney General Dana Nessel (D) said that 12 warrants have been issued for people suspected of being involved in breaking into 20 marijuana retailers last year. Their charges range from safe breaking (a felony that can carry a life sentence) to breaking and entering (a 10-year felony).
As pressure builds on congressional lawmakers to pass cannabis banking reform, the state’s top law enforcement official said that the alleged criminal activity is “an unfortunate example of why Congress must pass the Secure and Fair Enforcement (SAFE) Banking Act.”
“Without access to traditional banking the cannabis industry is left as a ripe target for criminals,” she said. “Any legal business should have fair access to our banking institutions for the security of their own business and employees as well as public safety.”
Supporters of the SAFE Banking Act have long argued that enacting the policy change would serve a public safety interest, allowing state-legal marijuana businesses to access traditional financial services, without having to operate on a largely cash-only basis.
Marijuana businesses in Washington State saw a surge in burglaries and robberies, some of them violent or deadly, late last year, according to a report from StoptheDrugWar.org. Nearly 100 shops were impacted over a period of less than five months, it shows.
Washington State Treasurer Mike Pellicciotti has repeatedly raised the issue, and last year he reiterated his call for a federal policy change and discussed steps the state can take on its own while Congress fails to act.
U.S. Senate President Pro Tempore Patty Murray (D-WA) has also pushed for passage of the SAFE Banking Act in the interest of public safety.
Senate Banking Committee Chairman Sherrod Brown (D-OH) said on Wednesday that lawmakers need to act on marijuana banking legislation “this year,” and his Republican counterpart on the panel agrees that the issue will “come to a conclusion likely in this Congress.”
Both Brown and the committee’s ranking member, Sen. Tim Scott (R-SC), spoke at the American Bankers Association (ABA) Washington Summit—one day after the lead GOP sponsor of the SAFE Banking Act urged the financial sector to put pressure on Congress to get the job done.
Brown also said that he’s under the impression that the White House is supportive of the legislation.
That’s a notable detail, as White House Press Secretary Karine Jean-Pierre declined to say what President Joe Biden thinks about the policy proposal during a briefing in January, stating that it was up to Congress.
Schumer, Merkley, Booker & Other Senate Dems Push For Cannabis Banking Bill: 'We're Gaining Momentum'
by
Nina Zdinjak, Benzinga Staff Writer
February 3, 2023 11:40 AM | 3 min read
ZINGER KEY POINTS
Sen. Brown is optimistic and thinks that the time for the cannabis banking reform is now.
Senate Democrats are not giving up on marijuana banking reform.
Majority Leader Charles Schumer (D-NY) met Wednesday with several other Democratic senators to “ponder the path” that would push cannabis legislation toward approval in this Congress, Sen. Jeff Merkley (D-Ore) told The Hill.
“We’re trying to find the formulation of Safe Banking Plus that can allow us to end this cash economy that’s doing so much to hurt so many across the country,” Merkley said ahead of Wednesday’s meeting in Schumer’s office. “Hopefully we can find a formulation and have bipartisan support and get it done.”
SAFE Banking Act
Under existing federal law, financial institutions are still not allowed to provide their services to marijuana businesses even in states with legal programs. Enter the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) that seeks to resolve this issue - one of the biggest in the industry.
Weed companies are compelled to rely on cash to operate, which makes them ideal targets for robbery. Also, the lack of financial services (i.e., loans) makes it difficult for smaller operators to enter the burgeoning industry.
Unfortunately, in December lawmakers opted not to put cannabis banking reform in the National Defense Authorization Act (NDAA) to secure its approval.
Senate Minority Leader Mitch McConnell targeted cannabis banking reform when he called on Democrats Schumer and Nancy Pelosi to strip the pot-related language from the defense bill in the week before the NDAA was revealed.
“House and Senate Democrats are still obstructing efforts to close out the NDAA by trying to jam in unrelated items with no relationship whatsoever to defense,” McConnell said on the Senate floor at the time. “My colleagues across the aisle need to cut their unrelated hostage-taking and put a bipartisan NDAA on the floor.”
Shortly after, McConnell gloated when the final version of the NDAA did not contain marijuana banking reform.
“Just as Republicans insisted, just as our service members deserve, this NDAA is not getting dragged down by unrelated liberal nonsense,” McConnell said. “Good smart policies were kept in and unrelated nonsense like easier financing for illegal drugs was kept out.”
Democrats continued. They attempted to attach SAFE to a must-pass omnibus spending bill. This effort also failed.
What’s Next?
Democratic senators Sherrod Brown (Ohio), Cory Booker (N.J.), and Jacky Rosen (Nev.) joined Merkley and Schumer on Wednesday in an effort to figure out the next best move.
“I think every Congress I’ve been here … has been a climb, but we’re gaining momentum,” Booker told The Hill. “There are people now, bipartisan and bicameral, who support some sort of reform legislation, and we’re going to continue to work on it this Congress.”
The talks this week did not include any GOP senators.
Sen. Brown is optimistic, saying the time for cannabis banking reform is now. “This…can be a bipartisan issue and bicameral,” Brown told The Hill. “I think it’s realistic because so many different people and groups I know — the bankers want it. … I bring up the bankers because that’s what will move Republicans.”
Posted In: CannabisNewsMarketsCharles SchumerCory BookerJacky RosenJeff MerkleyMarijuana Banking reformMitch McConnelNancy PelosiSAFE Banking ActSherrod Brownthe hill
Marijuana shortage leads to soaring prices in Missouri
Published: Mar. 22, 2023 at 8:35 PM EDT|Updated: Mar. 22, 2023 at 11:00 PM EDT
They did over $100 Million in less than 2 months after legalization, while they projected sales would be more in the $50 Million range.
This is why we need to get access to other newer markets as well as retail outlets, grow the business baby!!!
https://www.kctv5.com/video/2023/03/23/marijuana-shortage-leads-soaring-prices-missouri/
Looking like a Double Bottom getting put in !!!
All one sided trading with MM doing the buying and the selling.
Same 10m shares sold to BID .0005 are now put up on the ASK .0005, MM going to make it trade one way or the other, LOL
Near bottom, bridge jumper throwing away shares, LOL
Schwab investor dumping 13M so far, getting a whopping $5000 at .0004 for his time and trouble, foolishness.
Restricted Shares are not convertible, they are already issued, with restrictions, usually holder can't sell for 2 years etc.
Restricted shareholders own those shares and they will get the Artizen shares as part of spinoff, IMO.
ALL PVSP convertible debt will be gone before Artizen Spin Off
Debt holder will be executing their conversion option prior to Artizen Spin Off or they will not receive any Artizen shares, which IMO they will want unless they are crazy. They may decide to sell their converted PVSP shares or the new Artizen shares after the Spin off, just like every shareholder is free to do.
Look at the markets, most cannabis are down 70 - 80%
Absolutely NOTHING special about where PVSP is today, even cannabis companies with $700 Million in CASH and Revenues in the BILLIONS are in the same boat.
1 Year Ago
Tilray $8.50, now $2.50
Turlieve. $21.20 now $5.74
It is called a BEAR MARKET, and there is nothing anyone can do about, except Sell or Hold and of course BUY for the future and the next BULL market to begin, which could.be anytime.
I will wait thank you, and continue to build positions in these down markets.
Cannabis cultivation is certainly a target channel for commercialization of new water production technologies and methods.
German: Cannabis cultivation is a target channel for new water production technologies and methods
Cannabis cultivation has emerged as a significant factor contributing to water scarcity in some regions of the United States. Due to the plant's high-water requirements, large-scale cannabis cultivation can place a significant strain on local water supplies, particularly in areas that are already experiencing drought conditions or have limited water resources.
Beyond cannabis, water scarcity is becoming an increasingly pressing issue in the United States and worldwide, with drought conditions affecting many regions across the country. These conditions are driven by a variety of factors, including climate change, population growth, and increasing demands on water resources for agriculture and other uses. As a result, many communities are facing significant challenges in securing adequate supplies of clean water for drinking, irrigation, and other needs. These challenges have a range of impacts, from economic to social and environmental, and they are affecting both urban and rural areas globally. With the potential for these challenges to continue and worsen in the years to come, addressing water scarcity will be a critical issue for policymakers, businesses, and individuals alike.
Water is a mission critical issue in our industry. Many of our partners are involved in large scale traditional farming in the United States and Europe. And I have found myself in numerous discussions about the need to find solutions to combat water scarcity, whether approached from harvesting more water, or finding new ways to clean existing water, or finding technologies and methods for plants to use less water or elevate growth rates while using the same amount of water. After months of careful research and analysis, we have determined that there are extraordinary highly profitable opportunities in water, including remarkable new technologies to improve pre-existing water production methods, and acquiring, rolling up, and upgrading existing cash flow producing water production assets.
Further, while cannabis cultivation is certainly a target channel for commercialization of new water production technologies and methods, the market is far larger. According to a report by Grand View Research, the global water market size was valued at $838.2 billion in 2020, and it is expected to grow to $1.6 trillion by 2028. Capturing even a small share of that market would enable remarkable shareholder wealth.
How about those closing sells, $5, $10, and a $30 !!!
We will run again, but just like thousands and thousands of other stocks, it will not be today.
We may have to wait for the next BULL market to begin later this year!!
Zurich to legalize consumption and sale of cannabis on trial basis
EUROPE NEWS
Zurich to legalize consumption and sale of cannabis on trial basis
PUBLISHED THU, MAR 23 20237:26 AM EDT
Karen Gilchrist
@_KARENGILCHRIST
Switzerland has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess social and economic benefits.
From this summer, a test group of 2,100 Zurich residents will be permitted to buy regulated doses of the drug for personal use.
The move comes as other parts of Europe are rethinking their cannabis regulation, with Germany expected to introduce a bill to legalize the drug within the coming weeks.
A greenhouse at the CBD cannabis production company Phytocann near Ollon, western Switzerland. The Swiss government has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess its economic and health benefits.
A greenhouse at the CBD cannabis production company Phytocann near Ollon, western Switzerland. The Swiss government has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess its economic and health benefits.
Fabrice Coffrini | Afp | Getty Images
The Swiss government has approved plans to legalize the sale and consumption of cannabis in Zurich in a trial designed to assess the social and economic benefits of regulating the drug.
From this summer, a test group of 2,100 Zurich residents will be permitted to buy regulated doses of the drug for personal use from pharmacies, special dispensaries and social clubs across the city.
Participants will be expected to answer a questionnaire every six months on their consumption habits and health effects as part of the study, which is conducted in collaboration with the University of Zurich.
The trial ultimately aims to determine the conditions under which weed legalization in Switzerland can be compatible with “promoting individual and public health and safety,” the study leaders said. Evidence from the trial is to be published on a rolling basis from next year.
The idea is to get robust real world evidence that serves policymaking for new [national] regulation on cannabis,
Barbara Burri
PROJECT MANAGER FOR ZURICH’S MUNICIPAL PUBLIC HEALTH SERVICES
“The idea is to get robust real world evidence that serves policymaking for new [national] regulation on cannabis,” Barbara Burri, project manager at Zurich’s municipal health department said.
The move comes as other parts of Europe are rethinking their marijuana regulation in response to wider drug policy shifts across the globe.
Germany, Europe’s largest economy, is expected to introduce a bill to greenlight the consumption and sale of cannabis within the coming weeks — a move that would make it the first country in the EU to permit its nationwide commercial sale.
Neighboring Luxembourg and the Czech Republic have also already proposed plans to legalize cannabis for adult-use, while in Austria, Italy and Spain, it is no longer a criminal offence to possess small amounts of the drug for personal consumption.
Malta, the EU’s smallest member state, in 2021 became the first country in the bloc to legalize personal possession of the drug and permit private “cannabis clubs,” where members can grow and share the drug.
Elsewhere, Canada, Uruguay and, recently, Thailand, have all moved to legalize the drug in the past decade.
Zurich residents interested in participating in the trial are invited to register, provided they are active cannabis users of legal age, have no underlying medical conditions and are not currently employed as a professional driver.
Around one third of adults in Switzerland have tried cannabis, according to public health surveys. In Zurich — the country’s most populous city with over 420,000 residents — an estimated 13,000 residents are regular users.
Further studies with public and university sponsors are also planned in the cities of Basel, Bern, Lausanne, Geneva, Biel, Thun, Olten and Winterthur over the coming months.
GOP Senator Wants Bankers To ‘Unleash An Army’ Of Lobbyists To Help Pass Marijuana Banking Bill
Published 1 day ago on March 21, 2023By Kyle Jaeger
The lead GOP Senate sponsor of a marijuana banking bill wants bankers to “unleash and army” of lobbyists on Capitol Hill to push for the passage of the reform legislation through the Senate this Congress.
During a speech at the American Bankers Association (ABA) Washington Summit on Tuesday, the senator talked next steps for the Secure and Fair Enforcement (SAFE) Banking Act that he’s working to advance alongside Senate Majority Leader Chuck Schumer (D-NY) and other lawmakers.
Daines said he believes there’s a “chance” it can pass under regular order in the Senate by going through the committee process.
“This bill has been out there a long time,” he said. “I think with each passing year, there’s a greater number of people who understand that the problem—forcing businesses to operate in all cash—is only getting worse. We need to be very clear: this is a public safety bill, and the longer we go without addressing this issue, the worse the situation on the ground becomes.”
Asked whether he thinks the banking bill could garner even more cosponsors than last session, when it had nearly half of the Senate signed on, Daines told the audience of about 2,000 bankers that it’s an area “where I need your help.”
“I think this is a lot about educating folks on an issue. This is not about whether you support legalization or not. This is not some kind of proxy vote for endorsing federal legalization of marijuana,” the senator said. “It’s totally unrelated. What this is about is solving a problem that’s facing our financial service businesses, our legal cannabis businesses” and other ancillary industries, from plumbers to brokers.
He added that he’s “very thankful” for the support of bankers, saying “we could unleash an army of you all in this room on Capitol Hill” to advocate for the passage of the cannabis banking bill.
“I think it’s educate, it’s educate, it’s educate. Reach out to your members of Congress. Where you can, connect the dots in your state and your request,” he said.
The senator urged the audience to ask their representatives to cosponsor the SAFE Banking Act, while also building a coalition of supporters in law enforcement to drive home the point to lawmakers that this legislation is about public safety.
“Remember, this is called the SAFE Banking bill. It’s not about cannabis,” he said. It’s about safety and trying to reduce the crime that’s exploding in our communities as a result of too much cash.”
Daines said recently that the original plan was to reintroduce the SAFE Banking Act before the Senate’s Easter recess—but the timing has become less certain after a recent banking collapse that has distracted the attention of members of the relevant committee of jurisdiction.
The senator made the new comments on the same day that a coalition of cannabis industry associations sent a letter to Senate Banking Committee leadership, urging a swift action on the bipartisan banking legislation, which has cleared the House multiple times in past sessions only to stall in the Senate.
The National Cannabis Roundtable (NCR), National Cannabis Industry Association (NCIA), U.S. Cannabis Council (USCC), Minority Cannabis Business Association (MCBA) and National Hispanic Cannabis Council (NHCC) led the letter to Chairman Sherrod Brown (D-OH) and Ranking Member Tim Scott (R-SC).
They groups said that the committee should “immediately schedule a hearing to discuss the lack of access to banking and other financial resources that is harming the U.S. cannabis industry, and advance bipartisan legislation expeditiously to improve public safety and provide much-needed access to capital to these businesses.”
ABA has been advocating for the banking legislation for years, and it released a poll last year that found 65 percent of Americans want to see a fix to the cannabis banking problem.
Advocates and industry stakeholders have run low on patience with the Senate after leadership failed to pass the banking reform, along with other modest proposals on issues like expungements, as part of the so-called SAFE Plus package last session.
Schumer said last week that he’s still committed to moving the legislation with Daines, even with a divided Congress where Republicans control the House.
The Great Water Grab: Wall Street is buying up the world’s water
“Water is the oil of the 21st century.” Andrew Liveris, CEO of DOW Chemical Company The Great Water Grab:
Wall Street is buying up the world’s water
Written by Contributor, 17th November 2019, 0 Comments
Jo-Shing Yang reports on how Wall Street banks like Citigroup and multibillionaires are buying up water sources all over the world at unprecedented pace. Simultaneously, governments are moving fast to limit citizens’ ability to become water self-sufficient. Also read an investigative report from The Guardian: Liquid assets: how the business of bottled water went mad
Jo-Shing Yang, Global Research
A disturbing trend in the water sector is accelerating worldwide. The new “water barons” — the Wall Street banks and elitist multibillionaires — are buying up water all over the world at unprecedented pace.
Familiar mega-banks and investing powerhouses such as Goldman Sachs, JP Morgan Chase, Citigroup, UBS, Deutsche Bank, Credit Suisse, Macquarie Bank, Barclays Bank, the Blackstone Group, Allianz, and HSBC Bank, among others, are consolidating their control over water. Wealthy tycoons such as T. Boone Pickens, former President George H.W. Bush and his family, Hong Kong’s Li Ka-shing, Philippines’ Manuel V. Pangilinan and other Filipino billionaires, and others are also buying thousands of acres of land with aquifers, lakes, water rights, water utilities, and shares in water engineering and technology companies all over the world.
The second disturbing trend is that while the new water barons are buying up water all over the world, governments are moving fast to limit citizens’ ability to become water self-sufficient (as evidenced by the well-publicized Gary Harrington’s case in Oregon, in which the state criminalized the collection of rainwater in three ponds located on his private land, by convicting him on nine counts and sentencing him for 30 days in jail). Let’s put this criminalization in perspective:
Billionaire T. Boone Pickens owned more water rights than any other individuals in America, with rights over enough of the Ogallala Aquifer to drain approximately 200,000 acre-feet (or 65 billion gallons of water) a year. But ordinary citizen Gary Harrington cannot collect rainwater runoff on 170 acres of his private land.
It’s a strange New World Order in which multibillionaires and elitist banks can own aquifers and lakes, but ordinary citizens cannot even collect rainwater and snow runoff in their own backyards and private lands.
“Water is the oil of the 21st century.” Andrew Liveris, CEO of DOW Chemical Company (quoted in The Economist magazine, August 21, 2008)
Germany to Legalize cannabis in matter of Weeks ! !
Cannabis in Germany will be a success story’: Europe’s biggest economy moves closer to weed legalization
PUBLISHED WED, MAR 22 20232:41 AM EDT
Karen Gilchrist
Germany is expected to introduce a bill in the coming weeks which, if passed, would greenlight the consumption and sale of cannabis in Europe’s largest economy.
Health Minister Karl Lauterbach last week said that his plans received “very good feedback” from the European Commission.
“We need examples like Germany, like Europe, to show that society will not collapse if you make it legal,” Steffen Geyer, director of THR Berlin-based Hanf Museum, told CNBC.
Germany's plans to legalize cannabis for adult-use are one of a series of socially progressive policies proposed by Chancellor Olaf Scholz's "traffic light" coalition government.
BERLIN — Germany could be weeks away from introducing a bill to legalize cannabis under sweeping reforms that would greenlight the consumption and sale of the drug in Europe’s largest economy.
Germany’s Health Minister Karl Lauterbach last week said that the plans had received “very good feedback” from the European Commission, the EU’s executive arm, adding that the bill could be announced by the end of March or in early April.
“We will soon present a proposal that works, that is, that conforms to European law,” Lauterbach said, following months of talks with Brussels.
The government published draft proposals for the legalization of adult-use cannabis in October, which it said aimed to improve public health. Lauterbach insisted that they would only progress to the Bundestag — Germany’s federal parliament — if the initiatives are compatible with EU law.
Under the plans, cannabis would no longer be classed as a narcotic, and citizens over 18 would be allowed to carry up to 30 grams of the drug for personal use. Consumers would also be free to grow up to three plants at home, and licensed stores and pharmacies would be able to sell cannabis products.
May 1 will be seen as the day Germany legalized cannabis.
Steffen Geyer
If approved by parliament, the bill could be implemented in phases between now and mid-2024. It would make Germany the world’s largest regulated national cannabis market and the first country in the EU to permit its commercial sale — with potentially sweeping implications for the bloc.
In the Netherlands, a country widely associated with legal weed-smoking, the growth and sale of the drug to its so-called coffee shops is technically criminalized, though tolerated. While in other countries, such as Malta, legalization is limited.
“If I can trust my sources in the government, the first change will come in May,” said Steffen Geyer, director of Hanf Museum, a Berlin-based hemp museum which he described as being “the heart of the German legalization movement for the past 30 years.”
“May 1 [2023] will be seen as the day Germany legalized cannabis [for personal use],” Geyer told CNBC, noting that commercial legalization would likely follow next year. “Cannabis in Germany will be a success story, I’m sure. The future’s green.”
‘The future’s green’
Cannabis legalization is one of a series of socially progressive policies proposed by Chancellor Olaf Scholz’s three-party “traffic light” coalition government, which entered into power in 2021 after 16 years of conservative rule.
Around 4 million people in Germany used cannabis in 2021, and a quarter of all 18- to 24-year-olds in the country have tried it, according to Lauterbach, who said that the purpose of the changes was to increase public oversight and reduce drug-related crime.
“The government right now is by far the most open about this topic,” said Martin Chodorowski, account manager at Tom Hemp’s, a Berlin-based Cannabidiol (CBD) retailer.
Martin Chodorowski, account manager at Berlin-based Cannabidiol (CBD) retailer Tom Hemp's, says Germany's proposed cannabis reforms would create a more stable regulatory framework for company's like his and its suppliers.
Martin Chodorowski, account manager at Berlin-based Cannabidiol (CBD) retailer Tom Hemp’s, says Germany’s proposed cannabis reforms would create a more stable regulatory framework for company’s like his and its suppliers.
CBD is an active, but non-addictive, ingredient in cannabis, derived from the hemp plant. Its sale has been legal in Germany since 2017, provided that the Tetrahydrocannabinol (THC) content — the main psychoactive part of cannabis — is below 0.2%. Meantime, the sale of other weed products is prohibited.
“The chances for us as a German company are the highest they’ve been in a decade,” said Chodorowski, who welcomed the prospect of a more stable framework for suppliers and consumers of cannabis products.
It is estimated that legalizing the drug could create 27,000 new jobs and bring in an additional 4.7 billion euros ($5 billion) per year in tax revenues, social security contributions and criminal prosecution savings, according to a 2021 study from the Heinrich Heine University Dusseldorf.
“This is the most boring revolution you will ever recognize,” said Geyer, adding that new job creation could be closer to 35,000. “People are just trying to be normal. These jobs are already done today, but without paying taxes, without paying social security.”
New calls for marijuana legalization after report shows Wisconsinites gave Illinois $36M in tax revenue
By: Emilee Fannon Facebook | Twitter
Posted: Mar 16, 2023 4:16 PM CDT | Updated: Mar 16, 2023 11:30 PM CDT
MADISON, Wis. (CBS 58) -- Wisconsinites paid over $36.1 million in taxes attributed to marijuana sales in Illinois, according to a memo by the nonpartisan Legislative Fiscal Bureau.
State Sen. Melissa Agard (D-Madison), a longtime champion of cannabis legalization, released a copy of the report Thursday as Wisconsin lags behind neighboring states on marijuana legalization.
Sen. Agard called Wisconsin an "island of prohibition", surrounded by states that have legalized marijuana or will do so soon.
“It should upset every Wisconsinite that our hard-earned tax dollars are going across the border to Illinois," Agard said in a statement. "This is revenue that could be going toward Wisconsin’s public schools, transportation infrastructure, and public safety. Instead, Illinois is reaping the benefits of Republican obstructionism and their prohibitionist stance on marijuana legalization."
37 states have legalized medical and/or recreational marijuana, including neighboring states Michigan, Illinois, and Minnesota. And that's where Wisconsinites' money is going.
Illinois dispensaries made more than $1.5 billion in 2022. Four Illinois counties bordering Wisconsin have dispensaries. Of the nearly $240 million in sales there, more than half came from out-of-state customers.
The analysis by the Legislative Fiscal Bureau reviewed cannabis tax revenue sales by Wisconsin residents by "assuming that all sales to out-of-state residents in counties bordering Wisconsin were made to Wisconsin residents, which are estimated to constitute 7.8% of total Illinois cannabis-related tax revenue."
The $36.1 million estimate in tax revenues could be lower or higher due to several variables, the memo states.
"It is possible that not all sales to out-of-state residents in counties bordering Wisconsin were made to Wisconsin residents. For example, two of the dispensaries included in this estimate are located in Jo Daviess County, which borders both Iowa and Wisconsin. A portion of sales at those dispensaries likely were made to Iowa residents."
Michigan and Illinois have legalized cannabis for adult use, and Minnesota has created a medical cannabis program. However, Wisconsin remains an island and there's signs GOP lawmakers may be farther away from finding middle ground on medical marijuana legislation than previously thought.
Jay Selthofner, the founder of the Wisconsin Cannabis Activist Network, said, "I look at marijuana legalization as a jobs bill, because it would create another sector of our economy."
Selthofner said there's a major trickle-down effect: not only would industries benefit if marijuana was legalized, but some people are afraid to visit Wisconsin now while it's illegal. He said the message is, "Come on vacation, leave on probation. That's what the signal is right now to marijuana people."
Advocates say even just decriminalizing marijuana would be a major step forward, and a cost saver for law enforcement and court budgets throughout the state.
Selthofner said, "We have science, we have public policy, the public supports it, polling supports it."
Legalizing cannabis is popular among Wisconsin voters. A Marquette Law poll in October showed 64% of registered voters in Wisconsin favored legalizing marijuana. In 2019, the Marquette poll found 83% support marijuana for medical use.
Selthofner said, "Public perception is way ahead of the politicians."
So far Republican leadership does not support it.
Assembly Speaker Robin Vos, who for years voiced support for medical purposes, suggested during a WISN interview this year "we're not that close '' on medical marijuana.
Gov. Tony Evers again proposed recreational marijuana in his state budget proposal, but Republicans on the Joint Finance Committee have already vowed to reject the provision.
Sen. Agard said those Republicans are out of touch with what the majority of people want. She said, "It does not make us more safe, it does not help us move forward, and clearly does not match the values of the people who work and play in our state."
She said a number of Republican colleagues have told her privately they would vote for the bill if she got it to the floor, but she added, "They're hesitant to sign onto the bill and be the first person from their party to put their name on it, because there are concerns their leaders may take action against them."
We reached out to both Assembly Speaker Robin Vos' office for comment, as well as Senate Majority Leader Devin LeMahieu's office. Neither responded.
Twitter Paul Riss: PVSP California Dreaming
What do you think, is that code for PVSP is about to enter California Cannabis market with KRTL?
Paul Riss
@PaulRiss
·
Mar 7
$PVSP is California Dreaming with a Little Help From My Friends. $KRTL $MCOB #AI #stockstowatch $XALL
twitter.com/PaulRiss?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Germany Will Move Forward With Marijuana Legalization
Germany Will Move Forward With Marijuana Legalization After Receiving ‘Very Good Feedback’ From EU, Top Official SaysPublished 6 hours ago on March 14, 2023By Kyle Jaeger
A top German official says that the nation’s coalition government will move forward with plans to introduce a marijuana legalization bill, albeit with certain changes, after receiving “very good feedback” from the European Union (EU).
Health Minister Karl Lauterbach said on Tuesday that a revised legalization proposal would be brought to the legislature “in the next few weeks,” according to a translation.
Germany’s Federal Cabinet approved an initial framework for a legalization measure late last year, but the government wanted to get sign-off from the EU to ensure that enacting the reform wouldn’t put them in violation of their international obligations.
Officials with the European Commission affirmed that the country could take the step, Lauterbach said. However, he added that some changes would be made to the government’s initial plan. He didn’t specify what those revisions would look like, but said it will “take into account European regulations and what should or should not be notified.”
The coalition government will seek to “comply with European legislation while maintaining their own objectives,” the health minister said. The primary objectives will be “reducing crime and to make cannabis use as safe as possible,” EuropaPress reported.
Meanwhile, a separate marijuana legalization bill from progressive German lawmakers is set to receive a public hearing in the Bundestag Health Committee on Wednesday. The sponsors said the legislation is necessary to expedite the end of prohibition.
However, the expectation is that the body will reject the alternative proposal in the interest of waiting to see what the government ultimately puts forward.
While EU has evidently backed the basic idea of legalizing marijuana nationwide in Germany, the United Nations (UN) has made clear that member nations cannot go further than medical cannabis or simple decriminalization under a 1961 treaty to which countries like Germany and the U.S. are a party.
UN’s International Narcotics Control Board (INCB) recently released an annual report that took the position further by suggesting that the U.S. federal government is violating the treaty by declining to enforce prohibition at the state-level, saying that the federalist system prescribed under the Constitution does not excuse the country from its treaty obligations.
In Germany, the government’s soon-to-be-revised proposal—which is currently in the form of a 12-page framework and not actual legislation—would allow adults 18 and older to buy and possess 20-30 grams of marijuana at federally licensed stores and possibly pharmacies.
They could also grow up to three plants for personal use, with rules on enclosing them to prevent youth access.
All ongoing criminal proceedings related to offenses made legal under the reform would be suspended and closed upon implementation.
Marijuana would be subject to the country’s sales tax, and the plan calls for an additional “special consumption tax.” However, it doesn’t specify that number, instead arguing that it should be set at a rate that’s competitive with the illicit market.
This framework is the product of months of review and negotiations within the administration and the “traffic light” coalition government. German officials took a first step toward legalization last summer, kicking off a series of hearings meant to help inform legislation to end prohibition in the country.
A group of German lawmakers, as well as Narcotics Drugs Commissioner Burkhard Blienert, visited California and toured cannabis businesses last year to inform their country’s approach to legalization.
The visit came about two months after top officials from Germany, Luxembourg, Malta and the Netherlands held a first-of-its-kind meeting to discuss plans and challenges associated with recreational marijuana legalization.
Leaders of the coalition government said in 2021 that they had reached an agreement to end cannabis prohibition and enact regulations for a legal industry, and they first previewed certain details of that plan last year.
A novel international survey that was released in April found majority support for legalization in several key European countries, including Germany.
I think this board is a Red Herring, LOL
I guess the company should listen to message board posters on future acquisitions, LOL
Texas Marijuana Decriminalization Bill Unanimously Approved By House Committee
Published 23 hours ago on March 8, 2023By Tom Angell
A Texas legislative panel has unanimously approved a bill to decriminalize marijuana possession.
The House Criminal Jurisprudence Committee voted 9-0 on Tuesday to advance Rep. Joe Moody’s (D) legislation, which would remove the risk of arrest or jail time for low-level possession of cannabis and allow people to eventually erase cannabis issues from their criminal records.
The action comes about a week after the panel heard testimony on the measure at a hearing.
“Basically, the person is given a ticket goes to court, they’re assessed a fine, then the court tells them, ‘You’ve got six months to pay and you need to stay out of trouble during that time,’” Moody, who chairs the committee, said at the hearing.
“If the person does their part, the court dismisses the charges, and on a request of the individual, deletes the entire record of it,” he said. “The person walks away lighter in the wallet but without any criminal record whatsoever.”
The full House of Representatives has already passed similar cannabis decriminalization proposals during the past two legislative sessions, in 2021 and 2019. But so far the proposals have consistently stalled in the Senate amid opposition from Lt. Gov. Dan Patrick (R), who presides over the chamber.
The latest bill, HB 218, combines two separate measures from the most recent session, both of which passed on the House floor. It next heads to the House Calendars Committee to be scheduled for floor action.
Nearly 3 in 4 Texas voters (72 percent) support decriminalizing marijuana, according to a University of Texas/Texas Politics Project poll in December. More than half (55 percent), meanwhile, said they’re in favor of broader legalization. Seventeen percent said it shouldn’t be legal at all.
As introduced, this session’s bill would make possession of up to one ounce of marijuana or cannabis concentrates a Class C misdemeanor, removing the risk of jail time and instead imposing a maximum fine of $500. Existing law classifies possession of small amounts of cannabis as a Class B misdemeanor, which carries penalties of up to 180 days in jail and up to a $2,000 fine.
The bill also specifies that possession of up to two ounces of cannabis would not result in an arrest, meaning violators would be cited and released. Further, people with possession convictions for up to two ounces of marijuana could seek to have those convictions expunged through a court process for a $30 fee.
The committee adopted a substitute version of the bill on Tuesday but its text is not yet posted and Moody did not describe any substantive changes prior to the vote.
Americans now favor legal cannabis over legal tobacco
BY DANIEL DE VISÉ - 03/08/23 6:00 AM ET
More Americans now favor legal cannabis than legal tobacco, surveys show, signaling a sharp societal shift from an era when cigarette-smoking was legal pretty much everywhere and pot-smoking was legal absolutely nowhere.
Fifty-seven percent of American adults would support “a policy prohibiting the sale of all tobacco products,” the Centers for Disease Control and Prevention (CDC) reported in a research brief last month.
A slightly larger majority, 59 percent, believe marijuana should be legal for both medical and recreational use, according to a Pew Research survey conducted in October. Another 30 percent approve of cannabis for medical use alone. Only 10 percent of the American public believes marijuana should not be legal at all.
The findings reflect growing public consensus that cannabis is safer than tobacco, which the CDC considers the leading cause of preventable death. Studies have found marijuana less addictive than cigarettes and marijuana smoke less harmful to the lungs, although doctors caution that cannabis still poses many potential health hazards.
Public health experts don’t expect a national tobacco ban anytime soon. Instead, they hope rising anti-tobacco sentiment will drive federal regulation that makes cigarettes less addictive and less palatable to the young.
“I don’t know of anyone in my peer group that’s in favor of banning tobacco,” said Adam Goldstein, a professor and director of tobacco intervention programs at the University of North Carolina medical school. “We went down that road with alcohol,” he said, alluding to the nation’s failed 1920s experiment with Prohibition.
Recent years have seen a remarkable rise in public opinion toward marijuana, whose legalization as a product for recreational sale began with the passage of state measures in Washington and Colorado in 2012.
Society’s retreat from tobacco has proceeded more slowly. In the Eisenhower 1950s, much of the nation embraced cigarettes as benign, nonaddictive and socially acceptable. Two-fifths of Americans smoked in 1966, when the first cautionary notes appeared on cigarette packs.
The first public smoking restrictions appeared in the 1970s. The 1980s brought smokeless restaurants and airplane flights. In the 1990s and 2000s, states banned cigarettes in restaurants, bars and other public spaces. In 1995, the Food and Drug Administration declared nicotine a drug.
Today, every state but Wyoming restricts smoking in some or all public places and workplaces. All states impose excise taxes on cigarettes, and federal law prohibits their sale to people under 21.
Yet, tobacco remains legal in every state. Cannabis, by contrast, remains illegal under federal law.
Advocates and researchers fault the federal government for failing to follow the lead of states in legalizing and regulating cannabis, a move they say could help the industry promote education and safety and shed a lingering Wild West image.
“That lack of action is really problematic,” said Michael Sofis, director of research at Cannabis Public Policy Consulting, a group that works with states. Among other concerns, he said, “it is almost impossible to get research funding on cannabis on the federal level.”
State by state, the national prohibition against cannabis is eroding. Marijuana remains entirely illegal in only three states, Idaho, Kansas and Nebraska, according to the National Council of State Legislatures. Twenty-one states and the District of Columbia have legalized cannabis for recreational use. Thirty-seven states allow medical marijuana, and 10 more permit low-potency marijuana derivatives.
“I think all states, within a short period of time, will have medical marijuana,” Goldstein said.
The rehabilitation of marijuana in public opinion began around 1996, when California became the first state to legalize cannabis for medical use. Societal support for legal marijuana doubled from 25 percent in 1995 to 50 percent in 2011, just before the debut of recreational cannabis. The last Gallup survey, in 2022, found 68 percent of Americans supporting legal marijuana.
Even now, public opinion remains far from unanimous. Only half of conservatives and Republicans support full legalization, reflecting lingering resistance from the law enforcement community. Liberals and Democrats overwhelmingly favor legal cannabis, along with young adults.
Support for medical marijuana is closer to universal. “Even people who are morally opposed to cannabis generally run into the issue of basic compassion,” said Morgan Fox, political director of the National Organization for the Reform of Marijuana Laws, the nonprofit advocacy group.
Public favor toward cannabis has risen apace with legalization: Many Americans support legal cannabis precisely because it is widely legal.
The fact that cannabis is broadly legal does not, of course, mean that it is entirely safe. Waves of studies have found both positive and negative health effects, and much work remains to understand its impact.
“We have way more science and way more research that has been done on tobacco than has been done on cannabis,” said Cathy Callaway, senior director of state and local campaigns at the American Cancer Society Cancer Action Network.
The decline of tobacco in American society mirrors the rise of cannabis, but in reverse.
More than 40 percent of American adults smoked until the early 1970s, Gallup polling shows. By 2022, the population of smokers had dwindled to 11 percent.
As public support for legal cannabis has waxed, approval for unrestricted tobacco has waned.
Since the mid-2000s, support for smoking bans in public places has risen from around 40 percent to 60 percent, according to Gallup data.
A much smaller share of the public, around 20 percent, told Gallup pollsters they think smoking should be “totally illegal” in a 2021 survey.
CDC researchers found much stronger support for tobacco bans in their survey, also conducted in 2021 and published in the journal Preventing Chronic Disease.
Surveyors asked respondents whether they would support a “policy to prohibit the sale of all tobacco products.” Fifty-seven percent said they would “somewhat” or “strongly” endorse such a measure.
CDC researchers found majority support for a tobacco ban from men and women, young and old, college graduates and high-school dropouts and Americans of all races and ethnicities. They concluded that the findings “can inform federal, state, and local efforts to prohibit all tobacco product sales, including menthol cigarettes.”
America’s city councils and state legislatures are not racing to ban tobacco. Instead, much of the national debate focuses on flavored tobacco products, from the theory that mint- and menthol-flavored cigarettes and e-cigarettes entice children to smoke.
Several states and more than 360 communities have restricted or banned flavored tobacco products, according to the nonprofit Campaign for Tobacco-Free Kids.
At least two cities, the Los Angeles suburbs of Beverly Hills and Manhattan Beach, have eliminated tobacco sales altogether.
The Biden administration has moved to leverage rising anti-tobacco sentiment by banning menthol cigarettes and limiting nicotine levels, the latter effort tailored to make smoking less addictive.
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Three-quarters of Americans approve of moderating nicotine in cigarettes, according to Gallup polling, while the menthol ban has lower support.
The tobacco industry now acknowledges that cigarettes are dangerous and addictive, after decades of resistance. But the companies have protested the menthol ban and have signaled they will oppose nicotine caps.
“We certainly know that the general public is supportive of tobacco-control policies,” Callaway said. “And we also know that the tobacco industry is going to fight us every step of the way.”
Totally Agree, it is just a waiting game! LOL
We will get some big news soon, safe banking legislation is very, very close!!
PVSP responds to - "Co Needs to Grow Faster"
Chris B
@ChrisB65993921
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Mar 3
Replying to
@PervasipC
This company needs to grow faster
Pervasip Corp
@PervasipC
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Mar 3
Replying to
@ChrisB65993921
$PVSP Tell me about it! Totally agree. In a market that just contracted by 35-40% on the producer/processor level, spin out into a clean entity, get real growth capital, execute on the available out-of-state, and instate opportunities.
HydroLogic Purification Systems, Private Company
This could be the company that PVSP is interested in acquiring, it is a Private Company that could be looking to go public, but more important it is the one that Artizen COO, Bryce Nichter Zen Group mentioned as the system that he likes and uses etc.
Just a guess at this point but it looks like a company in the space that PVSP is interested in getting into. Reminds me of the Gold Rush, when more money was made selling miners Picks and Shovels, than the actual Gold being mined, LOL
https://www.hydrologicsystems.com/
CULTIVATION Slash your Water Use by 50% or More
Interesting article Zen Group
Insights from four cannabis operations practicing or planning water reclamation.
Bryce Nichter, COO, Zen Group, Washington state
Bryce Nichter’s first water reclamation install was driven by necessity: a 30,000-square-foot indoor facility lacked a municipal sewer connection. By adding an Automated Reclaimed Condensate System (ARCS) by HydroLogic Purification Systems to reclaim HVAC condensate, Nichter was able to limit wastewater significantly. The systems have become standard for his installations as Zen Group COO.
Nichter compares HVAC condensate to distilled or rainwater, but he warns against using condensate without further treatment.
“The precipitate water is dangerous for a couple of reasons. Although it is pure from a mineral standpoint and has very little dissolved solids, there can be some heavy metals and certain types of glues and solvents from the [equipment] coils and plumbing. Those contaminants can be toxic to a plant,” he explains.
“Even more importantly, because it’s a constantly wet environment—it’s trickling a lot of water, but slowly, over a long period of time—there can be a lot of bacterial growth that can be harmful to a plant coming out of that effluent,” Nichter says.
The HydroLogic ARCS earns Nichter’s praise because it targets reclamation. “It focuses specifically on capturing and remediating the things that could come off the precipitate from your HVAC systems,” he explains. “It can also operate at lower pressures, as water comes in slowly. It filters potential contaminants, but there’s also sterilization to manage the potential microbial component as well.”
Nichter sees an 80-percent return of water using this method. An added benefit is that the ARCS doesn’t produce a waste stream like reverse osmosis, but its benefits extend beyond conservation.
“We’re incentivized by the price of marijuana to have really high-quality water, because there’s a linear correlation to your yield. But large RO systems are very expensive,” he says. “By recycling this much water, you don’t have to buy as large an RO system to feed your business. You get high-quality water and an overall savings from the water bill and the initial capital expenditure of your reverse osmosis system.”
Nichter encourages growers to work water reclamation systems into development time lines from the start. “It’s tougher to add them in down the line than to do it on the initial install,” he says.
“As an industry, we’re learning. ... We’re digging in and trying to build businesses to truly last. When you learn how to do that, you want to focus on sustainability and ROIs that pay out in the long run,” Nichter advises. “As margins get lower, these are certain efficiencies to not only keep the community and regulators happy, but there’s actually some financial savings.”
https://www.cannabisbusinesstimes.com/article/slash-your-water-use-by-50-or-more/
The 2023 U.S. Cannabis Policy Reform Horizon
We are getting really close to legalization of Cannabis in the US, it is going to happen in 2023.
The 2023 U.S. Cannabis Policy Reform Horizon
Cannabis legalization has been a hot topic of debate for several years in the United States. The drug is currently legal for medicinal use in many states, while some have also legalized it for recreational use. However, it remains illegal under federal law, causing confusion and complications for businesses and individuals. Despite this, there is one issue where the people of the United States are united - federal cannabis legalization.
In recent years, public opinion on cannabis has shifted dramatically. According to a Pew Research Center survey, 91% of Americans support the legalization of either medical or recreational marijuana. This is a significant increase from just a few years ago when support for legalization was around 60%.
Furthermore, a recent Gallup poll found that 68% of Americans believe that the use of marijuana should be legalized. This includes a majority of Republicans, Democrats, and independents. It is clear that the people of the United States have spoken, and they want cannabis legalization.
One of the main reasons why the people of the United States are united on this issue is the medicinal benefits of cannabis. Research has shown that cannabis can help to alleviate symptoms of various medical conditions, including chronic pain, multiple sclerosis, and epilepsy. It can also help to reduce anxiety, depression, and stress.
Many people who suffer from these conditions have found relief through the use of cannabis. However, because it is still illegal at the federal level, they risk legal repercussions for using the drug. This has led to a growing number of people advocating for the legalization of cannabis so that they can access it without fear of legal consequences.
Another reason why the people of the United States are united on this issue is the economic benefits of cannabis legalization. The legal cannabis industry is already a multi-billion dollar industry, and it is expected to grow significantly in the coming years. Legalization would create jobs, increase tax revenue, and reduce the costs associated with enforcing cannabis prohibition.
Legalizing cannabis would also free up resources for law enforcement, who could focus on more serious crimes. It would also reduce the number of people who are incarcerated for non-violent drug offenses, which would save taxpayers money.
Despite the overwhelming support for cannabis legalization among the American people, politicians have been slow to act. This is partly due to the polarization of politics in the United States, where each party tends to take opposing views on most issues.
However, cannabis legalization is not a polarized issue. It has support across the political spectrum, and politicians need to realize that this is what their constituents want. The failure to act on this issue is causing unnecessary harm to millions of people who could benefit from the legalization of cannabis.
Moreover, the political cost of opposing cannabis legalization is becoming increasingly high. In the 2020 election, several states voted to legalize cannabis, including Arizona, Montana, and New Jersey. This suggests that politicians who oppose cannabis legalization may face backlash from their constituents.
The federal government's stance on cannabis is also out of step with public opinion. The 2018 Farm Bill legalized industrial hemp, which contains very low levels of THC, the psychoactive compound in cannabis. This is a step in the right direction, but it does not go far enough.
To truly address the issue of cannabis legalization, the federal government needs to take action. There are several bills currently pending in Congress that would legalize cannabis at the federal level, including the Marijuana Opportunity Reinvestment and Expungement (MORE) Act and the SAFE Banking Act.
The MORE Act would not only legalize cannabis at the federal level but also expunge the records of those convicted of non-violent cannabis offenses. It would also create a fund to reinvest in communities that have been disproportionately impacted by the war on drugs.
The SAFE Banking Act would allow cannabis businesses to access banking services, which they are currently unable to do due to the drug's illegal status.
This has caused significant challenges for cannabis businesses, as they have to operate on a cash-only basis, which is both unsafe and impractical. The passage of the SAFE Banking Act would enable these businesses to operate like any other legitimate business, reducing the risk of theft, and making it easier to pay taxes and access financing.
Despite the broad public support for cannabis legalization and the benefits it would bring, some politicians continue to resist the idea. They argue that cannabis is a harmful drug that can lead to addiction and other health problems, and that legalization would only exacerbate these issues.
While it is true that cannabis can have negative health effects, particularly when used excessively or by individuals with certain pre-existing conditions, the evidence suggests that it is far less harmful than many other legal substances, including alcohol and tobacco. Furthermore, legalization would enable the government to regulate the production and sale of cannabis, ensuring that it is safe and of high quality.
In addition, legalization would make it easier for researchers to study the potential medical benefits of cannabis and to develop new treatments based on its compounds. Currently, researchers face significant barriers to studying cannabis due to its illegal status, which limits the availability of research-grade cannabis and makes it difficult to obtain funding.
In conclusion, the people of the United States are united on the issue of federal cannabis legalization. They want to see an end to the prohibition of cannabis and the creation of a regulated, legal market for the drug. This is not a polarized issue; it has broad support across the political spectrum.
Politicians need to listen to their constituents and take action to legalize cannabis at the federal level. Doing so would have significant benefits for public health, the economy, and social justice. It would also enable the government to regulate and tax the production and sale of cannabis, making it safer and of higher quality.
There are several bills currently pending in Congress that would legalize cannabis at the federal level, including the MORE Act and the SAFE Banking Act. These bills have the support of the majority of the American people, and it is time for politicians to act on them. The benefits of federal cannabis legalization are too great to ignore, and the cost of inaction is too high.
PVSP Shareholders currrent 15% Equity to 80% Equity!!!
That is a HUGE 65% GAIN ownership equity in PVSP, for a total of 80% Ownership. Someday when we get sold or acquired Common Shareholder will get nearly the entire economic benefit. By the way the other 20% the company plans to use for all future capital raising activities to benefit the shareholders.
Pervasip Corp
@PervasipC
$PVSP More than quadrupling the % held in PVSP by the float and all common shareholders post spin-off
And our new focus for Pervasip post spin-off will be a low entry cost, high growth national and global market. ?? ?? ??
10:14 AM · Mar 2, 2023
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Washington State Laying Ground work for Fed Legalization !!!
How federal weed legalization would impact Washington state
Senate Bill 5069 — one of several marijuana-related bills this legislative session — lays the groundwork for interstate trade.
by John Stang / March 3, 2023
Some Washington lawmakers advocate starting to prepare for federal legalization of marijuana so our state won't be behind others when interstate pot commerce becomes possible. (Matt Mills McKnight/Crosscut)
he Washington Legislature is planning ahead to potentially make a lot more money on cannabis sales. A proposal gaining momentum would prepare the state to jump into interstate marijuana commerce — if and whenever Congress approves pot nationwide.
“It could happen anytime,” said Sen. Ann Rivers, R-La Center.
Senate Bill 5069 would allow Washington to enter marijuana import/export compacts with other states immediately after Congress gives the green light. If the federal change happens before the Legislature acts, Washington could have to wait months until the Legislature meets again to vote to allow interstate compacts.
“If we are not prepared to commit on a nationwide scale, we are going to be left in the dust,” Rivers said.
This bill passed the Senate Wednesday on a bipartisan vote of 40-8, and now moves on to the House.
At a Jan. 10 hearing before the Senate Labor & Commerce Committee, Vicki Christophersen of the Washington CannaBusiness Association said Oregon and California have already passed similar laws. “What we don’t want is other states to get a head start,” she said.
Currently, 39 states and Washington, D.C., have legalized medical cannabis and 21 states and Washington, D.C., have legalized recreational marijuana. “Each of these legal state marketplaces act almost like an island, as import and export to other states are not permitted,” said attorney Tom Tobin of Perkins Coie's Seattle office, whose practice includes some emerging marijuana issues.
“It’s especially exciting to practice in an area of law that is rapidly developing,” he said.
Several proposals have been floated in Congress to legalize or deschedule cannabis at the federal level – to remove the possession and sale of marijuana from federal laws that make it a felony. Marijuana is currently considered at the same level federally as heroin and other drugs.
The previous Congress considered numerous similar proposals, including the Marijuana Opportunity, Reinvestment and Expungement Act, which would have removed pot from the federal Schedule 1 drug list; it passed the House. A high-profile bill was introduced in the Senate by Sens. Chuck Schumer, D-N.Y., Cory Booker, D-N.J., and Jeff Merkley, D-Oregon. “While Congress did pass a bill to encourage further medical research into cannabis, none of the larger reform bills passed,” Tobin wrote in an email.
MM are front running the BID/ASK
They are scalping the trades at the .00065, making it hard to hit the BID or the ASK, someone NEEDS Shares!
NEW Tweet PVSP
Pervasip Corp
@PervasipC
$PVSP Love that some shareholders take the time to dig into the Company's information! Answer to one of the questions:
"The line of credit is paid out of cash. It is a traditional bank working capital (albeit expensive = welcome to cannabis). NOT convertible!"
12:58 PM · Mar 3, 2023
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2023 Predictions - SAFE Banking Act Will Become LAW!!
If You Don’t Believe, You Won’t Receive: Predicting Three Cannabis Reforms in the Coming Year
Bradley Arant Boult Cummings LLP
I’m not proud of it, but I’m the resident cynic amongst the editorial staff here at Budding Trends when it comes to federal marijuana reform. And after all, someone has to temper the frivolous whims of others. But we’re coming off the holiday season where I told two growing children that if they did not believe in Santa, they would not receive gifts from Santa.
So in that spirit, I’m going to make three optimistic predictions for federal cannabis reform in 2023.
1. The SAFE Banking Act Will Become Law.
Hunter Robinson, my co-editor and good friend, is going to have a field day with this. For the past two years, he has been predicting passage of the SAFE Banking Act. Every time it fails, I mock him and point out that the act is the football that Lucy (Congress) continues to move to make Charlie Brown (Hunter) fall in humiliation.
New year, new me. Let’s see what it feels like to be optimistic.
First, this is good politics for both sides. Sixty-five percent of voters support the legislation. Sixty-five percent of Americans don’t agree on almost anything! This has bipartisan support, and it provides Republicans cover by allowing them to argue that they don’t support marijuana; rather, they are making Americans safer.
Second, important members of both parties have expressed interest in getting a deal done in 2023. Rep. Patrick McHenry (R-NC), who is slated to serve as chairman of the House Financial Services Committee in the next Congress, has indicated that he does not believe the legislation will pass during the lame duck session but may in the next session.
Now, at the risk of reversion to cynicism, there are headwinds:
McHenry made clear that GOP support for the legislation will be largely contingent on whether lawmakers seek to attach additional provisions such as expungements and move it as part of a so-called SAFE Plus package, which Senate Majority Leader Chuck Schumer (D-NY) has been working to finalize and which other members such as Brown have insisted upon.
“You had a wide, bipartisan vote in the House” when it passed SAFE Banking as a standalone, McHenry said. “So if the Senate had just taken that, you could see a substantial vote in the Senate as well. I think the mistake they made was trying to expand beyond what [Rep. Ed Perlmutter (D-CO)r] so masterfully negotiated here in the House.”
If a new set of lawmakers can agree to sacrifice the perfect for the good, the SAFE Banking Act will become law in the coming year.
2. The House of Representatives Will Vote to Legalize Marijuana.
This one may seem particularly out there given the Republicans’ new control of the House. But even if statistics lie (there’s a quote somewhere), the results of elections in nearly 80% of the states don’t. This will not be a key issue for the House, and it could easily be overtaken by events both predictable (recessionary concerns, for example) and unpredictable.
Let’s just call this one a hunch. It almost certainly gets a moment’s notice in the Senate, but something tells me the House of Representatives is going to continue to make history on cannabis issues in the coming year.
3. The 2023 Farm Bill Will Pour Gasoline on the Hemp Industry.
The 2018 Farm Bill was a lightning bolt for the hemp industry. For the first time in nearly a century, it legalized hemp at the federal level. The past four years have seen extraordinary growth in the hemp industry in ways that many could not have even expected in 2018. For example:
CBD became a popular additive in food and beverages, despite the fact that FDA widely prohibited the practice shortly after passage of the 2018 Farm Bill.
Uses for industrial hemp exploded, with hemp being considered as a potential substitute from everyday products ranging from plastic to concrete and fuel.
The development of isomers such as Delta-8 and Delta-10 for the first time in most of our lifetimes made it legal for Americans to legally purchase psychoactive cannabis products – and largely without any government oversight.
Congress is set to pass a new farm bill in 2023. Amongst the many provisions of that legislation, what can we expect on the hemp front? Congress will almost certainly take action on these products that they had not fully appreciated five years ago. My guesses are that industrial hemp is the big winner, there is additional pressure to allow a certain amount of CBD in certain food and beverage products, and isomers such as Delta-8 and Delta-10 are codified but with more stringent regulations at the federal and state levels.
Will any of these predictions come true? Time will certainly tell. But if you don’t believe…
We really don't know how much they are selling if any?
We do know that they have been converting their debt instruments into shares of stock, but we don't know if they are selling some, or all, or none.
With the new Artizen Spin out, if they sell the shares they will not receive any position in Artizen. That doesn't really make any sense to most people.
I do expect a lot of debt note holder to convert the debt to PVSP stock to get the Artizen distribution. What they do after that who knows.
Shareholders are increasing their equity by 65%, total of 80%
This is a major deal for existing shareholders in PVSP who currently own 15% of the companies equity, because of the Preferred Shares that have 85% Conversion rights. Immediately after the Artizen Spin Off, the Preferred will be restructured to 20% and those will be used to absorb convertibles and debt.
What a SWEET Deal for loyal shareholders, management has STEPPED UP!!!
We are extremely excited by the potential of that transaction to position Artizen for significant growth while simultaneously giving all Pervasip common shareholders more than a “double” on their current positions in Pervasip. That “doubling” prospect is extremely important to us, and we have several surprises planned to facilitate and amplify that result.
The New Pervasip
While Pervasip common shareholders of record at the spin-out closing date will collectively receive 15% of Artizen’s common shares in addition to keeping their existing Pervasip common shares, Pervasip’s Series K preferred stock will be restructured immediately after completing the Artizen spin-out to reduce the applicable conversion rights from 85% of Pervasip’s fully diluted issued and outstanding stock to 20%. Importantly, that 20% then will also absorb the full impact of all other Pervasip convertible equity and debt securities. As a result, in addition to receiving 15% of Artizen in the spin-out transaction, Pervasip’s common shareholders will collectively hold 80% of Pervasip’s fully diluted shares immediately after the spin-out transaction instead of the current 15%.
Marcum LLP Fully Audited Financials for PVSP - End of March
It has taken over 1 year to complete this comprehensive audit for Pervasip and Artizen and it is scheduled to be completed end of March or Early April 2023.
Pervasip Announces Hiring of Marcum LLP to Conduct Financial Audit
Seattle, Washington--(Newsfile Corp. - February 1, 2022) - Pervasip Corp. (OTC Pink: PVSP) ("Pervasip" or the "Company"), a developer of companies and technologies in high value emerging markets, today announced that it is in the process of completing the annual audit of its financial statements.
Pervasip hired a national independent registered public accounting firm, Marcum LLP, to audit in accordance with the standards of the Public Company Accounting Oversight Board ("PCAOB") 3 years of financial results for all entities associated with newly acquired Artizen Corporation, which will allow Pervasip to issue consolidated audited financials for the newly combined companies.
"We have engaged with Marcum LLP to provide a first ever financial audit for the operating companies that comprise Artizen Corporation. We expect to file our consolidated financial statements next month using the alternative reporting requirements of OTC Markets, and to follow up shortly thereafter with our PCAOB audited financials. This is another step in our strategic plan to solidify our company's foundation, create transparency for our shareholders and organize for material growth in revenue and EBITDA over the next 24 months," said George Jordan, the company's Chief Financial Officer.
Series K Preferred will absorb ALL Convertible & Debt securities
No future Dilution of Common Shareholders, they will OWN 80% of the equity of the company, up from 15% previously!!
The 20%, restructured Series K Preferred will be used to absorb ALL Convertible & Debt Securities.
The New Pervasip
While Pervasip common shareholders of record at the spin-out closing date will collectively receive 15% of Artizen’s common shares in addition to keeping their existing Pervasip common shares, Pervasip’s Series K preferred stock will be restructured immediately after completing the Artizen spin-out to reduce the applicable conversion rights from 85% of Pervasip’s fully diluted issued and outstanding stock to 20%. Importantly, that 20% then will also absorb the full impact of all other Pervasip convertible equity and debt securities. As a result, in addition to receiving 15% of Artizen in the spin-out transaction, Pervasip’s common shareholders will collectively hold 80% of Pervasip’s fully diluted shares immediately after the spin-out transaction instead of the current 15%.
Lot of small private co. want to go PUBLIC
It is too expensive for most small private companies to go Public using the IPO route to gain access to capital markets.
Looking for an other Reverse Merger between PVSP and a small profitable private company to get the ball rolling.
PVSP is like a 2 for 1 Stock Split, LOL
Dang, this just keeps getting better for long term investors.!!!!
This is nothing more than MM conversions
Seen this a million time in past 6 months. Few of the debt holder converted last year and some of the shares are still be sold.
That morning dump to the BID is the short sale, and at end of day you will see the "Purple Tape Trade" which will happen below BID and is the Covering using those conversion shares they have in hand.
Just have to let it play out. Much of the previous days volume are these, usually 25M shorted daily, with some covered during the day, and the balance covered with the end of day Purple Trade.
PVSP Shareholder will now own 80% vs only 15% before spin off.
More than a DOUBLE in your PVSP Shares:
We are extremely excited by the potential of that transaction to position Artizen for significant growth while simultaneously giving all Pervasip common shareholders more than a “double” on their current positions in Pervasip. That “doubling” prospect is extremely important to us, and we have several surprises planned to facilitate and amplify that result.
PVSP Shareholder will now own 80% of Company vs 15% prior to spin off
While Pervasip common shareholders of record at the spin-out closing date will collectively receive 15% of Artizen’s common shares in addition to keeping their existing Pervasip common shares, Pervasip’s Series K preferred stock will be restructured immediately after completing the Artizen spin-out to reduce the applicable conversion rights from 85% of Pervasip’s fully diluted issued and outstanding stock to 20%. Importantly, that 20% then will also absorb the full impact of all other Pervasip convertible equity and debt securities. As a result, in addition to receiving 15% of Artizen in the spin-out transaction, Pervasip’s common shareholders will collectively hold 80% of Pervasip’s fully diluted shares immediately after the spin-out transaction instead of the current 15%.
PVSP shareholders will get more than DOUBLE their number of SHARES!!
"We are extremely excited by the potential of that transaction to position Artizen for significant growth while simultaneously giving all Pervasip common shareholders more than a “double” on their current positions in Pervasip. That “doubling” prospect is extremely important to us, and we have several surprises planned to facilitate and amplify that result."
"All Pervasip common shareholder more than a "double" on their current positions in Pervasip"