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Your Word, LOL, LOL, LOL, LOL, LOL
Now that was funny, needed a good laugh!!!
You can't Buy on Record Date and get Artizen shares!
Don't think you can just wait until the Record Date to Buy. If you do you will not receive the Artizen Shares distribution.
To be eligible for the Artizen Distribution, you will need to buy the stocks before the ex-dividend date, which generally is two days before the record date.
Also, remember it takes T+2 days to get registered and updated, so keep those as buffer days and do not just wait for the last date to buy the stocks.
$PVSP In answer to those pesky RS rumors! NO!
Series K shareholders have agreed to a restructuring and spin-off and Pervasip has announced the plans in its March 2, 2023 press release.
1. Spin out all cannabis assets into a standalone entity and uplist to OTCQB, preserve 15% of all stock for float (= current fully diluted %), AND all debt dilution NOT carried by current float but converted K shareholders! Thank you!
2. The remaining Pervasip as a second standalone will see a REDUCTION of KShares from 85% to 20%. NO RS!
No Reverse Split, LOL Dopes
Pervasip Corp
@PervasipC
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16s
$PVSP In answer to those pesky RS rumors! NO!
Series K shareholders have agreed to a restructuring and spin-off and Pervasip has announced the plans in its March 2, 2023 press release.
1. Spin out all cannabis assets into a standalone entity and uplist to OTCQB, preserve 15% of…
Show more
What an ignorant dope, LOL
Sad really, big mouth idiot, lazy cyber bully, LOL
What Is a Reverse Stock Split?
A reverse stock split is a measure taken by a public company to reduce its number of outstanding shares in the market. Existing shares are consolidated into fewer shares. This results in a higher stock price for the stock shares but has no immediate effect on the total value of the stock to the investor or the market capitalization of the stock.
For example, if a stock is trading at 50 cents on the market, and the company declares a two-for-one reverse stock split, an investor who owned 100 shares worth 50 cents would own 50 shares worth $1 each.
KEY TAKEAWAYS
A company performs a reverse stock split to boost its stock price by decreasing the number of shares outstanding.
A reverse stock split has no immediate effect on the company's value, as its market capitalization remains the same after it’s executed. However, it often leads to a drop in the stock's market price as investors see it as a sign of financial weakness.
This path is usually pursued to prevent a stock from being delisted or to improve a company's image and visibility.
You will never have enough information, only more questions, LOL
If you are that worried about investing, why in the world are you playing with micro penny pink stocks?
Seriously what gives with you?
A reverse split is nothing more than someone giving you a hundred dollar bill for 100 one dollar bills.
The problem markets have with some companies that do R/S is why they are doing R/S. Usually they are all ready very weak, with declining revenues and profits, along with share price, and are doing the r/s to meet listing requirements to stay on a particular exchange.
Doing R/S to uplist on the OTC while revenue and probits are increasing along with share price is really a non issue except for the few dumb shorties that cannot tell the difference.
PVSP will NEVER reverse split, Reverse Merger Yes
PVSP shareholders are going to own 80% of the company after the Spin Off, vs the current 15%.
The 20% remainder will be held by the original Artizen founders, and they will use those for any future CD's that maybe needed.
Great deal for current PVSP shareholders, the Artizen founders are being more than fair to PVSP shareholders.
Remember they have spent 10's of Millions building Artizen business since 2013, when it was a private company.
IMO, PVSP will do a reverse merger once again with a profitable private company that wants to go public and there are many out there.
It is so funny watching those clowns chase every tic, LOL
Seriously, who cares if it drifts around, it is what it is short term. They act like investors are going to jump off a bridge if it tics lower.
If it tics back lower, just means investors will continue loading the boat for a few more weeks or months, but I don't think so.
2024 is going to be a BIG, BIG year for shareholders!!!
Very Healthy Consolidation going on now.
We have to build a new higher base and the only way to do that is to let the daytrader get off the train and replace them will longer term investory that don't need sell before the weekend, LOL
Beer money trading.
It took 2 yrs from 1 cent to .0002, will take a few months to get back up!
MM are using algorithms to trade, and getting 75% and holding it a day is not likely, and that is their job really so let it trade up and down, the only thing that matters is that we get to our destination, not how many stop we hit along the way.
Future is what I am look for, 1 to 2 years out will look very different.
"PVSP shareholders will own 85% vs the current 15%"
“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%.”
We will not be in the "triples" much longer!!!
Just impossible, the stock will be moving into PENNY LAND sooner than you think!
200 Million plus traded in 30 minutes!!!!
It is not dumping, it is MM covering shorted ASK
Much of the ASK is MM offering Short shares, they sell them and cover later at lower price, perfectly normal.
You have to own PVSP shares to get Artizen Spin Off shares
The Record date will be established any time now that the audit is completed.
New Artizen will only have 15m shares in the Trade Float!
Going to be fun with such a low number of shares available to trade, No Debt, Audited Financials, New Listing on OTCQB, and Profitable!!
Founders are exchanging 15% of their shares for the debt!!!
They controlled 85% of the new company shares, and they will have 70% and PVSP shareholders 15% will not be effected!!!!
Artizen will have NO DEBT !!
No dilution, total outstanding shares will be the same 100M,
Pervasip Announces Restructuring and Spin-Out
Press Release | 02/01/2024
SEATTLE, WA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, is pleased to announce the restructuring of its cannabis operations to convert about $15,000,000 in debt into 15% of a newly formed subsidiary. The restructuring is a prelude to the Company’s previously announced plan to spin that new subsidiary out into a standalone public entity on the OTCQB market.
The Company has completed its final audited financials, which have been instrumental in guiding this decision. A key aspect of this restructuring involves converting over 80% of the company's debt into equity in the new cannabis-focused entity. This move is designed to streamline operations and strengthen Pervasip's financial footing.
It's important to note that the impact of the subsidiary debt-equity conversion and the corresponding dilution at the subsidiary level will not impact the subsidiary common shares reserved for current Pervasip common shareholders in the subsidiary spin out. Thus, the subsidiary spin-out will still involve the 15,000,000 subsidiary common shares reserved for the Pervasip common shareholders as announced in 2023, 15,000,000 subsidiary common shares reserved for the newly restructured subsidiary debt, and the remaining 70,000,000 subsidiary common shares for holders of Pervasip’s Series K Preferred Stock. In addition to this restructuring, Pervasip is embarking on a strategic transition away from non-productive assets, focusing exclusively on higher-margin branded product sales in all of its operating markets. This shift is expected to enhance profitability and efficiency, aligning with the Company’s long-term growth objectives.
The goal through these changes is to position Pervasip in a way that allows the market to assess the Company’s performance based on profitability. We aim to establish benchmarks for stock performance valuations using metrics such as EV/Sales and EV/EBIDTA. Furthermore, this restructuring is anticipated to significantly reduce the company's debt-to-equity ratios, thereby strengthening our balance sheet and overall financial health.
"We are excited about this new phase in Pervasip's journey. Restructuring our operations and focusing on high-margin, branded product sales will not only streamline our business but also enhance shareholder value," said German Burtscher, CEO/President of Pervasip. "The long-announced spin-out of our cannabis assets marks a pivotal step in our strategy to become a more focused, profitable company. We believe these changes will positively reflect in our stock performance and overall market valuation."
This strategic restructuring represents a new chapter for Pervasip, positioning it for sustainable growth and profitability. The company is committed to transparency and will continue to provide updates as we progress through this transformative phase.
Converting over 80% of debt into Equity in new Artizen!!!
The founders are covering this, PVSP shareholder getting full 15% shares.
Moving to OTCQB, bye, bye to the PINKS
PVSP restructure, $15M debt into 15% of newly formed subsidiary!!!!
Spin Off of Artizen coming soon!!!
Public Company Accounting Oversight Board: PCAOB
Interesting read on PCAOB function and practices.
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports.
The PCAOB is responsible for setting auditing standards for public companies.
https://pcaobus.org/oversight/inspections/inspection-procedures
Democrats urge Biden administration to deschedule marijuana
12 Senate Democrats, including Majority Leader Chuck Schumer, urged the DEA in a letter to remove marijuana from the Controlled Substances Act altogether.
Jan. 30, 2024, 6:00 AM EST
By Julie Tsirkin
WASHINGTON — Senate Democrats are putting new pressure on the Biden administration to ease federal restrictions on marijuana in a new letter to the Drug Enforcement Administration on Tuesday as it considers rescheduling cannabis after it was federally classified more than five decades ago.
The Department of Health and Human Services formally recommended in August that the DEA move the drug from Schedule I to Schedule III of the Controlled Substances Act, or CSA, prompting a monthslong review, which continues.
The letter, from 12 senators led by Elizabeth Warren, D-Mass., and John Fetterman, D-Pa., and signed by Majority Leader Chuck Schumer, D-N.Y., goes further.
“The case for removing marijuana from Schedule I is overwhelming. The DEA should do so by removing cannabis from the CSA altogether, rather than simply placing it in a lower schedule,” the senators wrote in the letter, first obtained by NBC News.
Rescheduling the drug or removing it entirely would have significant implications for the marijuana industry and for cannabis users, some of whom consume it for medical purposes.
Since 1971, cannabis has been under Schedule I, the highest classification of the CSA, along with drugs like heroin and LSD, which the government formally considers to have high potential for abuse and no accepted medical use.
Even so, 40 states and Washington, D.C., have legalized some form of cannabis, for either recreational or medical use, leaving consumers and business owners to operate in a patchwork of changing laws across the country.
The DEA told lawmakers this month that despite the historic recommendation by the Department of Health and Human Services over the summer, it “has the final authority to schedule, reschedule, or deschedule a drug under the Controlled Substances Act” based on scientific and medical evaluation.
The White House had hoped to make a rescheduling announcement close to the one-year mark since President Joe Biden ordered the DEA to review HHS’ recommendation in October 2022 and to use it as a campaign issue at the ballot box in November, according to five sources with knowledge of the situation.
Senate Democrats argued in Tuesday’s letter that the Biden administration should “promptly” remove the drug from Schedule I before it ultimately deschedules it.
“The Biden Administration has a window of opportunity to deschedule marijuana that has not existed in decades and should reach the right conclusion — consistent with the clear scientific and public health rationale for removing marijuana from Schedule I, and with the imperative to relieve the burden of current federal marijuana policy on ordinary people and small businesses,” they wrote.
In addition to Warren, Fetterman and Schumer, the letter was signed by Sens. Cory Booker, D-N.J., and Ron Wyden, D-Ore., who both worked with Schumer to put forward a comprehensive marijuana reform proposal that would end federal prohibition and decriminalize cannabis, legislation that has not gained the necessary support across the aisle.
A similar piece of legislation that would have legalized marijuana nationwide passed in the Democratic-controlled House in 2022, largely along party lines.
Another bill, known as the SAFE Banking Act, would make it easier for financial institutions to offer banking services to cannabis companies in states where the drug is legal and there is bipartisan support for getting the legislation across the finish line. After the bill passed through committee in the fall, Schumer said passing it through the Senate would be a top legislative priority, but a vote has not yet been scheduled.
Meanwhile, Biden has used executive authority to pardon thousands of people convicted of use and simple possession of marijuana, most recently in December.
A national poll commissioned by the Coalition for Cannabis Scheduling Reform, released in December, found that an overwhelming majority of 18- to 25-year-old likely voters — 65% — expressed support for Biden’s efforts to reschedule cannabis, another sign that the issue could help him politically in a tough re-election bid.
Seventy percent of Americans support federal marijuana legalization, the highest percentage ever, according to a recent Gallup poll.
Consolidating move, little backing and filling, going HIGHER
Nothing goes straight up, we have to let the traders make their trade and replace them with investors that are looking for better price. Going to be a lot of this type action on the way to multi pennies, so it really doesn't what the short term trading does on the way up!! LOL
Nearly every trade is a MM double count, LOL
With $17m revenue company was valued at less than $800k, Impossible!
Anyone with half a brain knows that a company that generates revenue of over $17M with 60% margins and is EBITDA positive has to be worth at least X time revenue. Most are at 2 to 6 times revenue, but even at 1 X $17m the stock should have been valued at nearly 20 times it's recent price.
We are going much, much higher in 2024 just watch, better yet get a ticket early!!!
You have to own PVSP to get Artizen shares Spin Off
If you own 1% of PVSP shares, you will receive 1% of Artizen Cannabis shares, plus keep ALL of your PVSP shares!!!!
Stock is worth 3 to 5 cents, $17m in revenue
PVSP is already EBITDA positive, generating $17m in revenue, just expanded operations into Oregon.
You have to own PVSP to get shares in NEW Aritizen spin off, plus you get to keep ALL your PVSP shares.
PVSP will be renamed after Reverse Merger with a NEW company to be announced after Spin Off.
Both companies will be leaving PINK sheets for the OTC, moving on up!!!
Annual Report due next month Feb 28
Biden DOJ Tells Federal Court Not To ‘Disrupt’ Marijuana Rescheduling Decision By Allowing Industry Lawsuit To Proceed
Published 15 hours ago on January 23, 2024By Kyle Jaeger
The Justice Department has asked a federal court to dismiss a cannabis industry lawsuit that seeks to block the enforcement of marijuana prohibition against state-legal activity—in part, it says, because the court should not get ahead of a possible cannabis rescheduling decision that’s being considered.
In a document filed with the U.S. District Court for the District of Massachusetts, Western Division, on Tuesday, lawyers for Attorney General Merrick Garland said that Congress “rationally set up an administrative process for rescheduling drugs.”
“Pursuant to that mechanism, the DEA is currently considering” a recommendation from the U.S. Department of Health and Human Services (HHS) “to reschedule marijuana” under the Controlled Substances Act (CSA).
States That Legalized Marijuana See Massive Reduction in Tobacco Use
“It is not for the courts to disrupt or get ahead of that administrative process,” DOJ said.
Overall, DOJ also said that marijuana businesses who brought the case lack standing to pursue the challenge because they cannot claim direct injury since they haven’t been federally prosecuted under the policy of prohibition. The filing also notes that a long-standing congressional rider has been in place for a decade, barring the department from using federal funds to interfere in state-legal medical cannabis laws.
“Plaintiffs do not dispute that as enacted, the CSA rationally served legitimate government purposes. Yet they argue that the CSA has been rendered irrational because Congress has chosen to allow federal territories to enact marijuana legalization laws and has prohibited the Department of Justice on spending funds to prevent implementation of state medical marijuana laws…while the Department of Justice has allegedly exercised prosecutorial discretion to decline to prosecute conduct that complies with state marijuana laws under certain circumstances.”
“Yet as explained above, these actions and inactions serve the rational purpose of facilitating state and local experimentation with marijuana laws while focusing federal law enforcement resources on conduct that most significantly affects federal interests,” it says.
The government also asserts that precedent set in a 2005 Supreme Court ruling negates plaintiffs’ argument that the U.S. Constitution’s Commerce Clause renders bans on interstate marijuana commerce unlawful.
The case is a “transparent entreaty to overrule” that precedent, known as Raich, DOJ said.
“Federal regulation of intrastate marijuana activities is constitutional because such activities “substantially affect interstate commerce,'” the department argued. “Plaintiffs get no further by claiming that the CSA violates their right to substantive due process. Courts have consistently, and correctly, held that no fundamental right exists to distribute, possess, or use marijuana. Therefore, the CSA is subject only to deferential rational basis review, which it easily survives.”
“To raise a pre-enforcement challenge to a law, a plaintiff must show a substantial risk of future enforcement. Here, Plaintiffs allege the opposite, that the government’s policy is not to prosecute conduct that complies with state marijuana laws. Neither Plaintiffs’ contention that they are harmed by other federal laws and policies whose constitutionality is not challenged here, nor Plaintiffs’ allegations that some third parties have independently chosen not to transact with them, suffice to provide Plaintiffs with standing to challenge the CSA.”
The motion to dismiss additionally says that plaintiffs “fail to allege facts showing that the risk of prosecution is substantial.”
“In fact, Plaintiffs’ allegations negate the existence of such a substantial risk,” it says. “Yet even if this Court were sympathetic to Plaintiffs’ arguments that [Gonzales v. Raich] holding should no longer be good law, stare decisis commands that this Court adhere to Raich unless and until it is overruled by the Supreme Court
“Moreover, Plaintiffs allege that the Department of Justice has implemented a policy of prosecutorial discretion that guides federal law enforcement to focus enforcement resources ‘on persons or organizations whose conduct interferes’ with important federal interests such as curtailing violence and gang activity, and otherwise to rely largely on ‘enforcement of state law by state and local law enforcement and regulatory bodies’ to ‘address[] marijuana-related activity.'”
The filing adds that a policy of prosecutorial discretion for federal marijuana cases such as under the Obama-era Cole memo that was rescinded under the Trump administration is a “surely rational” approach.
In the overarching lawsuit, plaintiffs claim that perpetuating prohibition in state markets is unconstitutional, creating undue public safety risks while precluding licensed marijuana businesses from accessing critical financial services and tax deductions that are available to other industries.
Reacting to the DOJ filing on Tuesday, the plaintiffs said in a statement that they “look forward to demonstrating their standing before the Federal District Court in Springfield, Massachusetts.”
“Plaintiffs have been injured by the federal government’s ban on cultivating, manufacturing, and distributing intrastate marijuana. Plaintiffs brought this suit to stop the enforcement of that unconstitutional ban and protect themselves and others similarly situated from further injury,” they said. “The facts in the complaint distinguish this case from Gonzales v. Raich, the 2005 Supreme Court decision on which the government continues to rely.”
The government filing comes about a month after the Justice Department and plaintiffs—a coalition of marijuana businesses represented by an influential law firm—jointly agreed to request a deadline extension for the filing of initial briefs.
The suit against the federal government is being led by multi-state operator Verano Holdings Corp. and the Massachusetts-based cannabis businesses Canna Provisions and Wiseacre Farm, along with Treevit CEO Gyasi Sellers.
On Monday, DOJ sought permission to submit the new 25-page of memorandum that exceeds the general 20-page limit allotted under the rules.
The law firms Boies Schiller Flexner and Lesser, Newman, Aleo & Nasser LLP are representing the plaintiffs. David Boies, chairman of the former firm, has a long list of prior clients that includes the Justice Department, former Vice President Al Gore and the plaintiffs in a case that led to the invalidation of California’s ban on same-sex marriage, among others.
The lawsuit alleges that while Congress originally banned marijuana through the Controlled Substances Act (CSA) in an attempt to eradicate interstate commerce, ostensibly giving the government a basis to enforce prohibition at the state level, lawmakers and the executive branch have since “abandoned”
DeSantis Says Marijuana Legalization Will Be On Florida Ballot Following Court Review
Published 4 seconds ago on January 22, 2024
By Kyle Jaeger
Florida Gov. Ron DeSantis (R) says a marijuana legalization initiative will be on the state’s November ballot, predicting a favorable legal outcome for activists in the Supreme Court in the face of a challenge from the attorney general who is seeking to block the vote.
Days before dropping out of the race for the 2024 Republican presidential nomination, DeSantis was asked about the prospect of legalization making the Florida ballot by cannabis lobbyist Don Murphy.
“I think the court is going to approve that,” the governor said at his final campaign event in New Hampshire on Friday, “so it’ll be on the ballot.”
It’s not clear if DeSantis has received some indication from the court about the status of the case, which is still weighing the legal challenge from Florida Attorney General Ashley Moody (R), or if he is just making a prediction based on the issues at play.
Moody has asked the court to invalidate the measure, despite activists collecting nearly one million signatures for ballot placement. The state official previously successfully petitioned justices to prevent a 2022 legalization initiative from receiving voter consideration.
That won’t be the case this round, according to the governor. While he opposes the reform—and pledged not to federally decriminalize marijuana if elected president when he was running—he says voters will get a chance to decide on the issue this time.
The state Supreme Court heard oral arguments in the case against the Smart & Safe Florida campaign last November, but it has not issued a ruling yet. It will need to do so by April 1.
DeSantis also weighed in on another relevant cannabis policy issue last week when he separately told Murphy that he doesn’t believe the federal gun ban for state-legal marijuana consumers is constitutional. Florida’s former agriculture commission, Nikki Fried, brought a lawsuit against the Biden administration over the rule, though the governor did not get involved.
Prior to dropping out, DeSantis also said earlier this month that if elected president, he would “respect the decisions that states make” on marijuana legalization despite his personal view that the reform has a “negative impact.”
With respect to the legalization ballot measure, the Florida Chamber of Commerce released a poll this month showing that the reform proposal enjoys majority support from likely voters—but not quite enough to meet the state’s steep 60 percent threshold for passage.
That said, other previous polls have found that voters are well-positioned to pass the legalization initiative with more than enough support. For example, the University of North Florida put out a survey last month that showed 67 percent of voters back the proposal.
The multi-state marijuana company Trulieve has contributed more than $40 million to the Smart & Safe Florida campaign to date. The state attorney general has accused the company of supporting the measure in order to have a “monopolistic stranglehold” on the state’s cannabis market.
If approved, the measure would change the state Constitution to allow existing medical cannabis companies in the state like Trulieve to begin selling marijuana to all adults over 21. It contains a provision that would allow—but not require—lawmakers to take steps toward the approval of additional businesses. Home cultivation by consumers would not be allowed under the proposal as drafted.
Adults 21 and older would be able to purchase and possess up to one ounce of cannabis, only five grams of which could be marijuana concentrate products. The three-page measure also omits equity provisions favored by advocates such as expungements or other relief for people with prior cannabis convictions.
Earlier this month, a Republican Florida lawmaker preemptively filed a bill that would impose strict limitations on THC potency if the legalization measure is approved by voters.
Meanwhile, Florida officials said last month that they arrested two paid canvassers charged with allegedly falsifying signatures on petitions to put the marijuana legalization initiative on the state’s 2024 ballot.
Economic analysts from the Florida legislature and DeSantis’s office estimate that the marijuana legalization initiative would generate between $195.6 million and $431.3 million in new sales tax revenue annually if voters enact it. And those figures could increase considerably if lawmakers opted to impose an additional excise tax on cannabis transactions that’s similar to the ones in place in other legalized states.
But DeSantis has made clear he would not support the measure regardless of the economic potential. He also recently suggested that the increase in Florida’s medical cannabis patient population is partly due to people using the program as a “pretext” for recreational use.
Last summer, a law enacted by the governor took effect that added restrictions to medical marijuana advertising and manufacturing, prohibiting any products or messages that promote “recreational” cannabis use, while adding more stringent eligibility requirements for workers in the industry.
Additionally, the governor approved a bill in June that expressly prohibits sober living facilities from allowing residents to possess or use medical marijuana, even if the patient is certified by a doctor to legally use cannabis therapeutically in accordance with state law. All other doctor-prescribed pharmaceutical medications may be permitted, however.
He also signed legislation in July banning sales of any consumable hemp products—including cannabis “chewing gum”—to people under 21, an expansion of an existing prohibition on young people being able to purchase smokable hemp.
The organizer of a separate Florida ballot initiative to legalize home cultivation of medical marijuana by patients recently withdrew the proposal, explaining that the campaign raised barely more than $4,000 and couldn’t cover costs associated with trying to qualify the measure.
In the legislature, meanwhile, a Florida Republican senator introduced a bill last month to allow licensed medical cannabis businesses to take state tax deductions that they are barred from claiming at the federal level under an Internal Revenue Service (IRS) code known as 280E.
30 Million on BID at 0002, Breakout?
Lets see what happens, that 600 Million on the BiD .0001 may never get filled !! LOL
Record date was 7/1/23 to 9/30/23, so we are 3 months behind schedule
Really not a big deal, nothing goes on schedule anymore, particularly an audit of financials of a Cash business that is prohibited from using the Federal Banking system, like all cannabis companies, LOL
Pervasip Corp.
PVSP
will spin-off 100% of its wholly-owned subsidiary, Artizen Corporation, as a separate public company, with an anticipated record date between July 1, 2023, and September 30, 2023.
Correct, read the disclosures,
No CD holders of any kind, only Common Stock Holders, no special issues
Heavy restriction will apply to Selling requirements, so probably why we are seeing PVSP CD holders converting and selling the past year.
CD Holders will receive Artizen stock from the Founders 85M shares
New company with 100M Common Shares, will have zero debt or CD's and PVSP shareholders will own 15% of the new company, great deal!!
Pervasip Corp. (OTCPK:PVSP) agreed to spinoff Artizen Corporation on January 17, 2023. Holders of Pervasip's issued and outstanding common shares as of the record date will receive an aggregate of 15,000,000 shares of Artizen common stock, Likewise, holders of Pervasip's Series K and other convertible securities will receive an aggregate of 85,000,000 shares of Artizen common stock.
You have to Own PVSP to get Artizen Shares
PVSP shareholders will receive the same % of shares of Artizen that they hold in PVSP, plus after the spin off PVSP shares holder will keep ALL their shares, but they will now hold 80% of company vs the current 13.5% we hold currently.
The remaining 20% will be continue to be held by the Artizen Founders and they will use their 20% for any and all of future CD or other funding, which is NICE to say the least.
Improved Capital Structure
Pervasip currently has about 5,000,000,000 shares of common stock issued and outstanding, corresponding to about 15% of Pervasip’s fully diluted issued and outstanding common stock. Pervasip additionally has 850,000 shares of Series K convertible preferred stock issued and outstanding, corresponding to 85% of Pervasip’s fully diluted issued and outstanding common stock, as well as various other convertible securities.
Holders of Pervasip’s issued and outstanding common shares as of the record date will receive an aggregate of 15,000,000 shares of Artizen common stock, corresponding to 15% of Artizen’s fully diluted issued and outstanding common shares upon completion of the transaction (in addition to retaining their shares in Pervasip). Likewise, holders of Pervasip’s Series K and other convertible securities will receive an aggregate of 85,000,000 shares of Artizen common stock, the vast majority of which will be subject to lock-up restrictions prohibiting sales prior to Artizen’s realization of material growth and other performance objectives. Artizen will have 100,000,000 common shares outstanding on a fully diluted basis upon completion of the transaction, with no convertible debt or other securities.
Marijuana Advocates Plan ‘Largest Bipartisan’ Push For Federal Reform At Pre-4/20 Event In D.C. As Rescheduling Decision Looms
Published 8 hours ago on January 18, 2024By Kyle Jaeger
A leading cannabis group is planning to mobilize the “largest bi-partisan coalition of cannabis advocacy, industry, and grassroots organizations” that will convene in Washington, D.C. to push for federal reform just ahead of the marijuana holiday 4/20 this year.
Organized by the Last Prisoner Project (LPP), the meeting will feature an ideologically diverse collection of advocates and stakeholders to promote legalization centered in equity, the organization said in a press release on Thursday.
LPP has also released a new memo that’s meant to help guide advocates on how to “leverage” a potential federal cannabis rescheduling decision to fight for more comprehensive reform at the administrative and congressional levels.
A New Poll Finds That Floridians Want Legal Marijuana
The limitations of simple rescheduling were detailed in a Congressional Research Service (CRS) report that was released on Tuesday, explaining how state cannabis markets would continue to run afoul of federal law and certain criminal penalties for marijuana-related activity would remain in force, for example.
For the April 18 event, representatives of multiple national marijuana organizations and trade associations are already set to participate. Those include the Drug Policy Alliance (DPA), Minority Cannabis Business Association (MCBA), National Cannabis Industry Association (NCIA), NORML, Parabola Center, Reason Foundation, Students for Sensible Drug Policy (SSDP) and more.
“We are thrilled to participate in this day of action to underscore the urgency of marijuana justice,” Maritza Perez Medina, director of federal affairs at DPA, said. “At this critical juncture for federal marijuana reform, our communities will not be sidelined.”
MCBA President Kaliko Castille said the organization “is proud to support this day of action because it’s clear that Congress needs to be reminded during this critical election year that ending prohibition has the broad support of the American public.”
“Congress is the only governing body that can truly end this national nightmare of locking humans in cages simply for possessing or growing a plant. Our communities can’t afford to wait any longer,” he said.
The LPP memo, meanwhile, lays out various avenues for equity-focused cannabis reform that could build upon any scheduling change, such as pushing for standalone congressional legislation to facilitate expungements and urging the Biden administration to expand the scope of the president’s mass pardons for cannabis possession offenses by commuting the sentences of people currently serving time for federal marijuana-related convictions.
It also notes that rescheduling could embolden the Justice Department to issue updated guidance on prosecutorial discretion for federal marijuana cases. And it says state officials could additionally leverage existing administrative mechanisms to provide for retroactive relief for past cannabis offenses, which could also be incentivized with a federal rescheduling action.
“We need an all hands on deck approach to ending the unjust war on our community, which means leveraging incremental wins as we build toward bigger, bolder reforms,” LPP Executive Director Sarah Gersten, who authored the new memo, said. “While rescheduling alone will not offer retroactive relief, it would be a historic shift in policy, and we must be ready to push open the door of reform when it happens. We have outlined several ways the administration can achieve real relief and add substance to the President’s mostly symbolic reforms so far.”
Geoffrey Lawrence, research director at the Reason Foundation who recently coauthored an op-ed for Marijuana Moment on the shortcomings of existing state social equity programs, said rescheduling cannabis “might sound like a good idea, but it’s fraught with danger”
“A Schedule III designation would continue to criminalize the manufacture, distribution, or possession of marijuana at the federal level for any products that haven’t received pre-market approval from the FDA,” he said. “Substantively, that means the change would imply no relief from criminal law for existing consumers or licensees, while any new exercise of regulatory authority by the FDA could imperil existing state-regulated markets.”
“All the progress advocates have made over past decades could be erased,” he added. “Full descheduling is the only approach that should be considered for marijuana.”
Meanwhile, the U.S. Department of Health and Human Services (HHS) finally released its full Schedule III recommendation and scientific findings it shared with DEA last week, and HHS Secretary Xavier Becerra said his agency has “communicated” their “position” on marijuana rescheduling to DEA and has continued to offer additional information to assist with the final determination.
DEA has steadfastly maintained it has “final authority” over the matter and can make any scheduling determination that it sees fit, however.
“DEA has the final authority to schedule, reschedule, or deschedule a drug under the Controlled Substances Act, after considering the relevant statutory and regulatory criteria and HHS’s scientific and medical evaluation,” the agency said in a letter to lawmakers last month. “DEA is now conducting its review.”
The statement came in response to an earlier letter from 31 bipartisan lawmakers, led by Rep. Earl Blumenauer (D-OR), that urged the agency to consider the “merits” of legalization as it carried out its review.
DEA has faced pressure on both sides of the marijuana policy debate over recent months, with advocates pressing for a Schedule III decision, or complete descheduling, and prohibitionists urging the agency to keep cannabis in Schedule I.
Prior to the HHS documents’ release, a coalition of 12 Democratic state attorneys general implored DEA to move forward with federal marijuana rescheduling, calling the policy change a “public safety imperative.”
In another letter last month, 29 former U.S. attorneys called on the Biden administration to leave cannabis in Schedule I.
Last month, the governors of six U.S. states—Colorado, Illinois, New York, New Jersey, Maryland and Louisiana—sent a letter to Biden calling on the administration to reschedule marijuana by the end of last year.
Meanwhile, six former DEA heads and five former White House drug czars sent a letter to the attorney general and current DEA administrator voicing opposition to the top federal health agency’s recommendation to reschedule marijuana. They also made a questionable claim about the relationship between drug schedules and criminal penalties in a way that could exaggerate the potential impact of the incremental reform.
Signatories include DEA and Office of National Drug Control Policy heads under multiple administrations led by presidents of both major parties.
In October, Advocates and lawmakers who support cannabis reform marked the one-year anniversary of Biden’s mass marijuana pardon and scheduling directive this month by calling on him to do more—including by expanding the scope of relief that his pardon had and by expressly supporting federal legalization.
Two GOP senators, including the lead Republican sponsor of a marijuana banking bill that cleared a key committee in September, also filed legislation late last year to prevent federal agencies from rescheduling cannabis without tacit approval from Congress.
A coalition of 14 Republican congressional lawmakers, meanwhile, has urged DEA to “reject” the top federal health agency’s recommendation to reschedule marijuana and instead keep it in the most restrictive category under the CSA.
A huge trading opportunity could be coming if the Biden administration reforms marijuana laws
Michael Brush
Opinion: A huge trading opportunity could be coming if the Biden administration reforms marijuana laws
Last Updated: Jan. 17, 2024 at 9:04 p.m. ET
First Published: Jan. 16, 2024 at 7:25 p.m. ET
By Michael BrushFollow
These cannabis stocks and ETFs stand to benefit if the proposed rescheduling of the substance takes place
CURLF
-1.65%
CURA
-3.41%
GTBIF
-1.68%
TSNDF
-4.35%
MSOS
-3.89%
MSOX
-6.85%
The Drug Enforcement Agency (DEA) is being asked to soften its stance on cannabis.
Cannabis stocks advanced sharply to start the week, after the nation’s leading health agency recommended sweeping changes to federal marijuana laws. Still, it’s up in the air whether the proposed changes will ultimately help cannabis companies and investors any time soon — if at all.
Below, I’ll share key investor pros and cons in the major reform proposal rolled out on Jan. 12 by the Department of Health and Human Services (HHS).
Stock traders should take note that there’s a potentially huge and tradable catalyst on the way soon. But first, given the polarizing nature of cannabis culturally and politically, let’s acknowledge the remarkable nature of the 252-page HHS proposal, especially for anyone familiar with the U.S.’s “war on drugs.”
HHS asked the Drug Enforcement Agency (DEA) to soften its stance on cannabis by downgrading it to Schedule III from Schedule I under the Nixon-era Controlled Substances Act. The change would help cannabis companies by boosting cash flow enormously.
To make a credible recommendation, HHS had to find that cannabis has acceptable medical uses and a relatively low potential for abuse and dependence. HHS built its case by citing extensive research and the now-widespread doctor-recommended usage across the country. This new policy proposal would represent a sea change for the federal government.
“It really goes back and covers a lot of the misinformation that has been out there on the effects of cannabis over the last 20 years,” said Boris Jordan, the founder and executive chair of Curaleaf CURLF, -1.65% CURA, -3.41%. “It is easy to forget all the stuff that was being said about cannabis during the war on drugs. Now there is almost a 180-degree flip on the benefits and side effects of cannabis.”
Investing takeaways
Here are the five key investor takeaways from the proposed federal cannabis-law reform.
1. Rescheduling would rain cash on cannabis companies: The reform would boost sector cash flow by exempting companies from an Internal Revenue Service rule called 280E, which bars the deduction of operating expenses against Schedule I drug revenue. “It would release a lot of investible capital into the sector,” Jordan said.
Curaleaf, for example, could expect a $200 million boost, according to Jordan. For context, the company reported $47 million in operating cash flow and $92.3 million in net losses in the third quarter of 2023. If rescheduling happens in late 2024, 280E nullification would apply to the whole year, Jordan noted. Any eventual 280E exemption might only apply to medical-use sale revenue, however, which would blunt the benefit.
2. There’s a big short-term catalyst on the horizon: Near term, the next step would come in the form of a proposed rescheduling rule from the DEA. The timing is critical: It has to happen soon for the Biden administration to reap election-year boasting rights, obviously part of the plan here. To clear all the hurdles to get full rescheduling done before a potential administration change in January 2025, the DEA would have to publish its proposed rule by March or April at the latest.
3. A major risk is that HHS invented an entirely new standard to support rescheduling: Change happens slowly in law, so it’s jarring to see that HHS set up a new test for assessing the currently accepted medical use of cannabis. It’s a “newly minted standard,” said Shane Pennington, a controlled-substance regulatory expert and partner at law firm Porter Wright Morris & Arthur.
The new test weighs the level of state-approved medical use. It also considers whether healthcare associations recognize a medical use, and “credible” evidence of a therapeutic effect. HHS found that 30,000 doctors recommend cannabis to 6 million patients, and that there’s an accepted medical use to treat anorexia, pain, and nausea and vomiting related to chemotherapy.
Because this is a new standard, it opens the HHS rescheduling process to legal challenges by cannabis opponents who may question the validity of the new standard. If the DEA ultimately approves rescheduling, cannabis opponents will likely launch more challenges in court. An overhang of uncertainty may persist for investors.
4. Another risk is HHS’s low bar on scientific evidence: This also opens reform efforts to potential attacks. To check the box on scientific support, HHS said it merely needed to see at least “some credible scientific support” for one medical use. Compared to the biopharma gold standard of double-blind random-sample trials, that’s a low hurdle.
Some HHS logic also seems questionable. The department concluded that there’s low potential for abuse, but then cited evidence that nearly a third of non-medical cannabis users consume virtually every day. That seems like a big number for a substance with supposedly low abuse potential.
But cannabis-law experts push back. “Both in thoroughness of the analysis and its tone, this is a very, very substantial document,” said Arnold & Porter partner Howard Sklamberg, another controlled-substance regulatory expert. “The part of the analysis covering the science and medicine would be very hard to challenge. You would have to show the agency was acting in an arbitrary way.” He doubts that will happen. “It would be hard for a judge to say ‘I am going to overturn the HHS science.’” Sklamberg is worth listening to because he chaired the Food and Drug Administration’s Marijuana Working Group, which set FDA cannabis policy.
5. The comment period could drag out: After the DEA drops its proposed rule, there would be a 60-day comment period. But the review process could take longer. “I expect there will be a lot of public participation,” said Pennington. He called the HHS proposal a “target-rich” environment. “There is plenty to argue about, and people are really fired up to engage.” If a robust debate ensues and a lot of experts call for hearings, the approval process could drag out.
Reform timing
Sklamberg expects full rescheduling to be complete by the summer. He reasoned that this should be the Biden administration’s target if it wants to keep cannabis reform off the typically crowded year-end legislative agenda. Pennington is skeptical, noting that the rescheduling process historically has dragged out for as many as nine years.
But these are unusual times politically, so something closer to Sklamberg’s timeline could make sense. It depends in part on how much the administration wants this. U.S. President Joe Biden is slipping in the polls even among young people, which provides motivation. Also consider the following: “This whole process was kicked off by an executive order, which is not normal,” said Sklamberg. “The fact that the White House initiated this process through an executive order shows it is a high priority.”
Stocks and exchange traded funds (ETFs)
For better-quality names, Poseidon Asset Management cannabis investor Morgan Paxhia favors Green Thumb Industries GTBIF, -1.68% and TerrAscend TSNDF, -4.35%. Green Thumb has a strong balance sheet and it’s in growth markets such as Ohio, Maryland, Pennsylvania, Florida and New Jersey. TerrAscend is improving its balance-sheet strength and expanding in Pennsylvania and New Jersey.
I’ll suggest Curaleaf, in part because it’s the company positioning most aggressively for European growth as countries there liberalize cannabis rules. For exchange-traded funds, I own the more liquid AdvisorShares Pure US Cannabis MSOS and the leveraged version, AdvisorShares MSOS 2X Daily MSOX.
Michael Brush is a columnist for MarketWatch. At the time of publication, he owned MSOS and MSOX. Brush has suggested GTBIF, CRLBF, MSOS and MSOX in Cabot Cannabis Investor. He has suggested MSOS and MSOX in his stock newsletter, Brush Up on Stocks. Follow him on X @mbrushstocks.
More: Green Thumb, Trulieve and other cannabis stocks up as much as 21% as details emerge on HHS recommendation to lower drug classification
Forbes: What Would The Reclassification Of Marijuana Mean For The Industry?
Dario Sabaghi
Contributor
Aug 31, 2023,06:00am EDT
The announcement of the call for the reclassification of marijuana's current status has excited industry players, but it hasn't escaped criticism either.
The U.S. Department of Health and Human Services sent on August 29 a letter to Anne Milgram, the Administrator of the Drug Enforcement Agency, calling for the reclassification of marijuana as a Schedule III substance within the framework of the Controlled Substances Act, as first reported by Bloomberg News on Wednesday, August 30.
The DEA confirmed the letter sent from HHS, which will now start its own review.
Marijuana's reclassification is a small step toward full legalization, which would require "de-scheduling" marijuana, meaning the complete removal of the substance from the CSA.
However, moving marijuana's classification from Schedule I—containing high-risk substances like heroin, LSD, and ecstasy—to Schedule III, where drugs like ketamine with lower perceived risk can be legally prescribed, would represent a significant shift for the marijuana industry.
In political terms, the move would give President Joe Biden a partial achievement as he approaches next year's election.
Biden introduced initiatives to mitigate penalties linked to marijuana use in October last year. This included pardoning federal simple possession offenses and encouraging governors to follow suit for state offenses. Furthermore, he requested the HHS secretary and the U.S. Attorney General to assess marijuana's classification, considering its medical applications, abuse potential, safety, and dependence risks.
Moving marijuana to Schedule III would be the most significant federal reform of this substance in modern history. But what would change for the marijuana industry?
Benefits for businesses from marijuana reclassification
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Marijuana operators would have preferred complete descheduling of marijuana, allowing for more flexibility to fully capitalize on the sector's potential.
Patrick Rea, managing director at Poseidon Garden Ventures, stated that full de-scheduling is preferable and likely the most suitable option for marijuana. However, Matt Hawkins, founder and managing partner of Entourage Effect Capital, noted that reclassification could substantially transform the landscape for all legal operators nationwide.
In practical terms, the reclassification of marijuana would mainly impact the taxation of marijuana companies throughout the nation.
Brady Cobb, CEO of Sunburn Cannabis, explained that the reclassification would be a massive step forward, validating the medicinal benefits of marijuana.
"The move will also allow for interstate commerce while removing the draconian effects of section 280E of the tax code," he said.
Under Section 280E of the Internal Revenue Code, the federal law stipulates that businesses involved in trafficking Schedule I or II controlled substances, including marijuana, cannot claim tax deductions or credits. Marijuana's Schedule I current status hinders businesses from deducting essential expenses on their federal tax returns. Essentially, marijuana entrepreneurs are required to pay taxes on their entire revenue without the advantage of using business expenses to lower their taxable income. If marijuana were reclassified as Schedule III, this scenario would change, benefiting marijuana companies.
David Goubert, CEO of Ayr Wellness, also highlights that rescheduling will bring many benefits, including creating further opportunities for medical marijuana research and signaling to the criminal justice system that marijuana is not a high enforcement priority.
In fact, Dennis Curran, CEO of Acreage, emphasizes that there is still much work ahead. However, he acknowledges that the announcement indicates the Food and Drug Administration's recognition, which the HHS recommendation is built upon, of the potential health benefits of marijuana.
"We urge the DEA to follow this science-forward recommendation and to take the next crucial step, giving our industry the resources and validity needed to reach our full potential and drive success," he said.
Boris Jordan, executive chairman of Curaleaf, said that the announcement represents a significant political advancement and added, "It's past time" for political leaders "to listen to the voters on this issue," hoping that the reclassification "occurs promptly."
"We will not stop fighting for legislative reform - which is critical for the protection of employees, patients, customers, and businesses around the country," he said.
The news further triggered a positive response in the marijuana stock market, resulting in significant double-digit jumps for major players. In fact, Federal relaxation of marijuana classification could potentially enable major stock exchanges to list marijuana-related businesses and open doors for foreign companies to sell products in the United States.
Critics on marijuana reclassification
However, the reclassification of marijuana would still fail to address other crucial issues regarding the current status of marijuana in the country, and the announcement of the reclassification of marijuana hasn't been immune from criticism.
In a press statement, the Drug Policy Alliance explained that moving to Schedule III wouldn't adequately tackle the serious harms in communities affected by marijuana criminalization. The CSA's control would keep much of marijuana conduct federally illegal. State marijuana programs, both medical and recreational, would stay federally banned, leading to potential arrests. Noncitizens might face deportation for marijuana involvement. Federal arrests and prosecutions would continue, old arrests wouldn't be expunged, and many would remain imprisoned for marijuana offenses. This would also maintain the denial of federal benefits to those with prior marijuana convictions and impede fair competition between small, minority-owned businesses and larger corporations in the marijuana industry.
The Minority Cannabis Business Association notes in a press statement sent by email that although some see progress in the HHS suggestion to shift marijuana to Schedule III, it's crucial to realize that reclassification won't stop marijuana consumer arrests in prohibition states. During his 2020 campaign, President Biden pledged to "decriminalize" marijuana, a promise achievable solely by fully removing the substance from the CSA.
"We urge President Biden to make good on his promise to end arrests for marijuana and fully remove marijuana from the CSA. This is the only way to ensure equity, social justice, and economic opportunities in the cannabis industry," the MCBA's press statement reads.
NORML deputy director Paul Armentano said in a press statement that federal marijuana policy reform should bridge the gap between federal and state laws. Rescheduling marijuana to Schedule III doesn't effectively reconcile the conflict between state legalization and federal regulations, maintaining the divide between state and federal marijuana policies.
"Just as it is intellectually dishonest to categorize cannabis in the same placement as heroin, it is equally disingenuous to treat cannabis in the same manner as anabolic steroids," he said, referencing the substances listed in Schedule III of the CSA.
The timing of when the rescheduling could take effect remains uncertain. However, according to some experts, it might potentially be implemented in early 2024, a few months ahead of the 2024 Presidential elections.
Rescheduling Decision announcement is imminent !!!!!
Top Biden Health Official In Touch With DEA About Marijuana Rescheduling Recommendation
Published 2 hours ago on January 15, 2024By Kyle Jaeger
The head of the U.S. Department of Health and Human Services (HHS) says his agency has “communicated” the agency’s “position” on marijuana rescheduling to the Drug Enforcement Administration (DEA) and has continued to offer additional information to assist with the final determination.
HHS for the first time confirmed that it had recommended moving cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) on Friday, releasing a trove of documents it submitted to DEA last year amid a Freedom of Information Act (FOIA) lawsuit initiated by attorney Matt Zorn.
Xavier Becerra, secretary of HHS, told The New York Times in a new interview that his department “communicated to them our position” and “put it all out there for them,” referring to the comprehensive scientific review it conducted and submitted to DEA as part of a scheduling directive from President Joe Biden.
State Governors Urge Biden to Reschedule Marijuana by Year-End for Economic and Safety Benefits
“We continue to offer them any follow up, technical information if they have any questions,” Becerra said.
The status of DEA’s review is currently unknown, though some suspect the release of the cannabis materials in the FOIA lawsuit may indicate the scheduling decision announcement is imminent. Marijuana Moment reached out to DEA for clarification on the timing, and a spokesperson referred the inquiry to the Justice Department, which has not responded to requests for comment.
Congressional lawmakers, meanwhile, have touted the HHS Schedule III recommendation following Friday’s disclosure of the review documents.
“I’m encouraged by this news & urge the DEA to follow this common-sense scientific recommendation to move cannabis to Schedule III,” Rep. Dwight Evans (D-PA) said on Friday. “I continue to support full legalization but this would be a positive action.”
Marijuana reclassification proposed over lower public health risk, documents show
By Fenit Nirappil, David Ovalle and Dan Diamond
Updated January 13, 2024 at 9:45 a.m. EST|Published January 12, 2024 at 8:45 p.m. EST
The Department of Health and Human Services in August recommended that the Drug Enforcement Administration change marijuana’s classification as a Schedule I drug. (Arin Yoon for The Washington Post)
Federal health officials determined marijuana poses a lower public health risk than other controlled substances and offers possible medical benefits before they proposed ending its designation as among the riskiest drugs, according to documents released Friday.
The extensive scientific review illuminates the rationale underpinning a recommendation last summer that marked a significant shift in how the federal government has treated a drug that is legal for a majority of Americans to purchase. This is the first time the Department of Health and Human Services has publicly acknowledged marijuana’s medical use.
The health agency in August recommended that the Drug Enforcement Administration change marijuana’s classification as a Schedule I drug, a designation reserved for substances that have a high potential for abuse and no accepted medical use. The classification has long been a source of criticism that one of the most commonly used drugs is in the same category as heroin and LSD. The DEA has yet to act on the recommendation.
Marijuana is legal for medicinal purposes in 38 states and D.C. Federal officials proposed classifying marijuana as a Schedule III drug, in the same category as substances that can be obtained with a prescription such as anabolic steroids, ketamine and testosterone.
In the analysis conducted by the Food and Drug Administration, officials determined marijuana is less harmful than other drugs. The nation’s overdose crisis has reached staggering proportions, with opioids and other drugs killing more than 100,000 each year.
“Although abuse of marijuana produces clear evidence of harmful consequences, including substance use disorder, they are relatively less common and less harmful than some other comparator drugs,” the document said.
Federal officials previously declined to answer questions about their justifications for recommending rescheduling and released heavily redacted documents outlining their rationale in response to a Freedom of Information Act request filed by The Washington Post. Matt Zorn, a lawyer in Texas, first released the unredacted documents Friday in his newsletter after successfully suing HHS for their release. HHS confirmed the authenticity of the documents.
Federal Scientists Recommend Easing Restrictions on Marijuana
New Your Times
In newly disclosed documents, federal researchers find that cannabis may have medical uses and is less likely to cause harm than drugs like heroin.