Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
A couple of things - the US MJ sector is taking, has taken, and will continue to take a pounding as long as Sessions is the AG and holds his anti-MJ position. In my opinion, if a person is going to invest in growing/production/processing of MJ they should do it north of the border. Too easy for the DOJ to come in and take (sieze) profits under the illicit gains concept. On the US side, Cannabix is joined at the hip with the MJ sector, but it's really not an MJ stock, it's a tech stock. And the company is manufacturing law enforcement tools. SO - at the end of the day, we'll follow the MJ sector as it goes up and down on public sentiment, until the "production" version of the breathalyzer is unveiled. At that point we'll pull away. When ABC news runs a 2 minute spot on the new pot breathalyzer investors will come running, the shares bought last week in low to mid $2 range will have been a bargain. And it is not a company growing or processing MJ, so the down side is defined. Most (worst) that can happen is value goes to zero. Fed.gov won't be emptying your bank account under the guise of criminal proceeds.
So there are (can be) two charges, one for “driving while impaired” and one for “exceeding a legal limit”. The breathalyzer is key to obtaining convictions on the second type of charge. The first can be more difficult to discern. Watch the video.....
I was very specific about the device reading being used to convict someone of a driving while stoned offense. They can arrest someone on the grounds that their pet spider that rides in the patrol car said the person was stoned. Or because they talked to their special dog. Or because the person has pinkeye and their eyes are red. But a measured, indisputable number will be needed to convict. Some may think I'm splitting hairs, but I think it's an important distinction to draw. I grew up in the northeast and the running joke was that an indictment was not a conviction....
Agreed, but... Cannabix breathalyzer detects active THC, not metabolites. Active THC is processed by the body at varying rates. I (me) predict that the instantaneous level (detected by the Cannabix unit) will be compared to a legal limit to determine if someone is breaking the law or not. The level may be very minuscule, but our detector is that good. Others, maybe not. The recency of use issue will be used to cloud the issue of whether one is “really” guilty of breaking the law. A sliding scale which tries to extrapolate what happens in each individuals body is a recipe for confusion. But we are splitting hairs here. The legislative branch of the US government makes the laws. The executive branch enforces the laws. The judicial branch makes sure that neither oversteps their bounds. In the end we are making a tool for the executive branch to use to enforce laws passed by the legislature, and the tool has to stand up to challenges in court. In my opinion we will succeed on a grand scale. Others may or may not agree with me, and I’m ok with that. We are still entitled to our opinions. I’m putting my money on Cannabix Technologies to come through.
The stoners are going to point to that article to make their point, but the way this will play out is that each jurisdiction will have a numerical limit, and if a person is at or above the limit, they can be convicted of driving while stoned (under the influence). Period. I've not looked at it recently, but there is a number for blood alcohol content for each state that is the limit. When a person blows in the BAC breathalyzer it does not matter if the person is of european descent and can down 30 shots without slurring, or is a native north american and falls down after half a shot. If they are at or above the legal limit, the conviction stands. The precedent has been set - it's an easy scenario to connect the dots on. Now the states are going to have to put a number out there and we'll see it get challenged in court, it may adjust or it may stand. Time will tell.
If the justice branch of the government works like the executive branch, the courts will not “approve” or “accept” anything. They will put out a criteria to be met, and the various manufacturers will need to demonstrate how they meet the established criteria. This is how OSHA works (executive branch). They do not “approve” anything. So a cut resistant glove manufacturer can’t say “OSHA approved”, but they can say “meets or exceeds OSHA requirements”. I expect the same on this device. Courts need to determine what they want. The problem they are having is the technology does not (or did not) exist. My thoughts are that Cannabix and probably the dirty dog are going to have to pimp their product capabilities to the justice department, including demonstrating how it removes a reasonable doubt that the person has ingested a THC based substance. Once the beyond a reasonable doubt standard has been reached and it holds up as convict able evidence, its game on like donkey Kong.
Excellent insight, I think (and have thought for three years) that Cannabix is on the right track. They are focusing on making sure that their device gives an accurate reading of THC in breath that is correlatable to THC levels in blood, and that their device and the measurements it provides will stand up in court as evidence. I believe that it will be up to each jurisdiction to decide what the limit is for proclaiming that an individual is impaired. We give them an accurate number, they go from there. Win win.
The FAIMS module detects, the unit as a whole presents the breath sample in a condition that allows the breathalyzer to determine concentration. Think STP - Standard temperature & pressure, from chemistry class. Concentration is quantity of THC per unit of breath. Some of the challenges that Cannabix has overcome to date have been a mouthpiece that separates the spit out of the sample and how to handle the breath sample from the persons lips to the FAIMS module in such a way that the temperature is suitable. I'm summarizing a couple years of press releases here, I'd encourgae anyone interested to go back to the beginning on the Cannabix website and read each press release. They go into quite a bit of detail. Contrast this to hound - who we couldn't invest in if we wanted, because they are privately held - who rely on a "proprietary sensor technology". Being that they are not publicly traded they have no burden of full disclosure, or even truth, in their press releases. Until I hear any detail of the technology they are using I'm going to assume they have the suspect breathe into a plastic bag, and then put the contents of the bag over a cat's head. If the cat passes out, it's a positive indication of THC in the suspect's breath. Proprietary technology at its best.
They can test in Florida by detecting a substitute molecule that is similar in size and aspect to the THC molecules that are ultimately the target. Remember that they have the analytical chemistry department of UF at their disposal. Once they are close, ship a couple of the prototype units to BC for final calibration using that mass spectrometer they bought last year and we’re off to the races.
The federal law factor is one thing that turned me away from investing in companies that grow, process or distribute. One stroke of the pen can declare all gains from these ventures to be criminal proceeds, subject to federal seizure. The beauty of the breathalyzer is it is needed either way - legalization requires it to screen for impaired drives. Maintaining illegal status for cannabis also requires it, for screening impaired drivers. Win-win for investors.
For NASDAQ listing need the share price above $4 Table formatting messed up, but you get the picture.
Nasdaq Global Select Market Listing Requirements
Requirements
Standard 1: Earnings Standard 2: Capitalization with Cash Flow
Market Value of Publicly Held Securities(1) $45,000,000 $45,000,000
# of Shares Publicly Held(2) 1,250,000 1,250,000
# Public Board Lot Holders 450 450
Trading Price of Listed Securities(2) $4.00 $4.00
Regarding the differences in ingested vs smoked THC, first let me state that I am not a user in either medical or recreational capacity. However, I have several friends who are, in both capacities. One is a long term cancer patient who has a tumor on his spinal cord. Because it is in his spine, chemotherapy does not reach it, as the chemo travels through blood, not spinal fluid. Apparently by the time it diffuses to the tumor it's so diluted that it is ineffective. He has been keeping this tumor at bay with heavy doses of cannabis oil for several years. He maintains a level in his system that is multiples of what a chronic recreational smoker might have, but it does not give him a "high" beyond relief of his cancer symptoms. He was a recreational user back in the day, but he has told me many times that the medical cannabis oil is much different. Another friend had the beginnings of a basil cell tumor on his arm from years of sun exposure. He put cannabis oil on it for a month or so and it's gone. He is a heavy recreational user. Discerning between the types of THC (smoked, ingested, oil) will be critical for determining who is using what, and who is impaired vs who is using a medical dose to mitigate an illness. To use a tag molecule to paint a wide brush on all variteties is to go back to the urine test and look for metabolites. The Cannabix machine is the solution to the problem. I'd love to see the last 5% done and kick this over the finish line. Been holding almost three years, time to wrap it up.
Fear and Greed are what drive the price on a stock like this. Fear of losing, and greed to make a buck (quick buck or long buck). I'm in long as are quite a few. Being that I got in around twenty cents, I have little fear of losing my initial investment. I bought at .40, I bought at .09 and I'm very happy with how this has shaped up. This is a device with a huge demand. That's a fact. The grow and distribution side of the pot stock arena is too risky for me - I fear that AG Sessions may roll over the states that have legalized and seize all gains from pot stocks of those types as ill-gotten gains. That risk does not exist in my mind for a detection device. As far as competitors, if any of them were publicly traded I'd probably put money in them too. But for now, this is it. And I still have quite a bit of faith in UF and Dr. Yost and their ability to deliver a working device.
I'm looking forward to a Merry Christmas and a Happy New Year. I still have faith, I don't worry much about how it's going to go. It's going to fluctuate, I'd just like it to keep fluctuating up a bit more, but I've waited three years, another isn't going to kill me.
2 Million volume in first hour, not too bad!
Court approval is nice, but a working device that a judge agrees is "probable cause" is good enough. Here's how it plays out. Local PD sets up a roadblock. They have a judge agree that a positive reading from the Cannabix breathalyzer is probable cause for a warrant for blood draw. Done. So, up rolls Johnny, he blows clean on the alcohol breathalyzer, rings the Cannabix one. They phone the judge, warrant issued, roll him to the clinic for a blood draw, it's done. Perfection is the enemy of good enough. Let's get good enough first, then worry about perfection.
Good article, it reinforces the need for a device to conduct roadaside evaluations. And the first comment read along the lines of "isn't requiring an oral fluid sample a constitutional violation?". Bingo. Kal, Dr. Yost, et al, need to step up and get a working unit out in the public eye, and show test results. At this point I don't care if the results are in-house or third party. Show me the data. I want this to pay off as much as the next guy, but if it's not working, let me know so I can move on.
That is what a person posted on the Yahoo board on BLOZF. According to him, any companies working with the Canadian government are required to sign all sorts of non-disclosure agreements. That would explain the news blackout.
Agreed - the timing is about right given the intervals between past updates. However.... Take a look at the comments over on the Yahoo Finance board for BLOZF. One person said they used to do work with the Canadian government, and once a firm started working with them they were required to sign all sorts of non-disclosure agreements. Given the news stories of Canadian law enforcement personnel being shipped to Florida to be trained how to detect THC impaired drivers, I think it's not a stretch to conclude that our pals at Cannabix are working with the Canadian government on validation testing of some sort. I imagine when the testing is complete the government will release the results and Cannabix will be able to reference them at that time. That's how I read the tea leaves. Your mileage may vary.
Not neccessarily. The BLOZF device measures the active components of THC, not the metabolites. Detection is a yes/no for active THC, determining how impaired depends on how much of the active THC is in the blood (which the BLOZF device can quantify), and how that particular concentration affects that particular person (a decision for the courts, not the device manufacturer).
I see his point, and was of the opinion that Cannabix should have put out a "dumbed down" version of the final product awhile ago that gave a "yes/no" reading. He did qualify that it would be in states or areas that it's still illegal - a binary measurement is useful there. In "legal" regions, the full blown detection and measurement device is absolutely needed to either convict or exhonerate the accused.
I agree that we need solid PR's - I thought the last one was good. It disclosed the Beta 3.x, and indicated that they are identifying specific components in breath - humidity, temperature, flow, CO2, O2, and THC (where present).
My take is that they are determining all of the variables, so they can measure them and "normalize" the THC reading back to a known reference. They are also very specific about which THC compounds they are looking for. In my mind this bodes well for these guys.
My interpretation of their press releases is that they are very cautious about giving predictions of dates for completion because they don't want to get on the wrong side of the SEC for providng bogus info. They report what they have done (past tense) and are noncommittal on future. This may be a result of when trading was halted several years ago when their price shot up on news.
I'm long and staying in. When I look at the competition, because they do not have any "oversight" from entitites like the SEC, I'm skeptical of how much is factual and how much is conjecture. Everyone has their own take on what they are seeing - a composit of all viewpoints probably gives the most factual picture. That's the value that this board brings.
Unmetabolized THC can be detected in blood, through breath analysis. If it is in solution in blood, it will be in breath in trace levels (Boyles Law of partial pressures) It does not matter if the THC got to the blood through eating, smoking, or other. The THC in blood is what is being processed by the body, resulting in impairment. Per the study, the levels of THC in oral fluids does not correlate to the levels of THC in blood.
My opinion - say a user was sucking on an edible gummy and spit it out. The THC level in their saliva may be very high (no pun intended) but the level in blood may be extremely low, as the majority of the gummy has not gone into the digestive tract. If tested by oral swab the person may ring as being impaired. A blood test (via blood draw and lab analysis or via the Cannabix FAIMS device) may exonerate the person as having a blood THC content below the threshold established by the local authorities.
My opinion again - this scenario is the fatal flaw of oral swabs and saliva analysis.
We'll look back in 10 years and see if I was right or wrong.
Not publicly traded. I'm as credible or incredible as they are. I'm developing a breathalyzer too. Send me $7mil and I'll tell you the sun shines out of my ass too.
Yup, that betamax breathalyzer looks great! So did the first laser docs that were a foot in diameter. But history shows us that first is not final. And only history will tell which one takes market share. It's not over by any measure, and the fat lady isn't even at the venue yet. Our buddies at Hound can say whatever they want, there is no burden of proof on them. Maybe they have the worlds most wonderfullest breathalyzer. But maybe they have a cobbled together prototype that isn't very accurate and requires constant recalibration. And maybe because they are not publicly traded they can spew whatever bullshit they want in press releases with no backlash from shareholders. Only time will tell. At this time, the ONLY company that is (a) developing a marijuana breathalyzer and (b) publicly traded so folks can invest in it is Cannabix. Like the pizza box says, "you tried the rest, we're open!"
I'll keep holding BLOZF long.
I just figured it out. I put him on my "ignore" list. Problem solved.
I've been waiting for over two years and have more than doubled my initial investment. A few more months is no big deal, especially considering the up side potential.
I'm not worried about Kal taking vacation, as long as the R&D staff are still moving things forward. And yes, regular updates would be great.
$3 million to plan on how to enforce - I'd love to see the budget they get to implement the plan once it's developed, approved and adopted! More to the point, the specialized hardware budget.
A couple of observations on the latest press release.
First, the company stated that they are preparing for trials. This is different from testing - MY read on the trials wording is that in-house testing is far enough along that they can move into validation that will be accepted by the legal community as evidence for convictions.
Second, the latest staff addition seems to have expertise in identifying molecules for detection. As in molecules which would indicate the presence of other substances in the blood. Which can be detected by Dr. Yost's FAIMS cell. Which our pals at Hound Labs cannot detect.
So if Hound Labs comes out in a few months with a one trick pony that costs $800, and Cannabix comes out next year with a full featured unit that costs $2500, I think there is room in the market for both. My opinion.
What is FAIMS - here is a good "quick reference".
http://www.faims.com/what.htm
Note the summary description:
FAIMS is a new technology capable of separation of gas-phase ions at atmospheric pressure (760 torr) and at room temperature. FAIMS can be operated over a wide range of pressures and has been tested above 1500 torr. FAIMS will operate at lower and higher temperatures.
Very important - will operate at higher and lower temperatures than room temperature, and higher and lower pressures. The technology works. In my opinion the hard part is done - it's mostly packaging and a few peripheral details.
The type of progress report I’d like to see would read as follows (THIS IS FICTION – NOT A REAL PRESS RELEASE!!)
The Company is pleased to report that testing with human breath samples has been completed, and a direct correlation has been established between the THC levels in breath and in blood. Other developments include completion of the mouthpiece, including patented spit separation technology, and completion of miniaturization, including power supply and packaging. With the current configuration the unit can operate continuously for up to 16 hours, in temperatures from 12°C to 70°C, with relative humidity from 5% to 95%. Manufacturing operations are being established in Canada and Mexico. 15 units have been submitted to the US Department of Justice for testing, and advance orders for several thousand units have been received in the second half of the month from Law Enforcement agencies throughout North America. Initial unit pricing is anticipated to be approximately $2500, with reductions expected as manufacturing progresses. This is a forward looking statement and does not represent future predictions. We seek safe harbor.
There, I wrote it for them – they can finish these steps, then cut & paste it into their web site. (THIS IS NOT A REAL PRESS RELEASE!!)
A couple of questions - has Canada reconciled the collection of swab samples (including the piggyback DNA) against it's previous position that it was not going to allow collection of DNA in a sample? Also, if it's not verboten to collect trace DNA in a sample, I'd suggest that Cannabix consider moving forward with a simplified spit removal mouthpiece that gets the breath into the FAIMS module for analysis without dwelling on removing all traces of other stuff that will be screened out of the test by FAIMS technology.
A progress update on results found with human breath testing would certainly be well received also.
Hey hoyowasobo, if you are that certain that this company is a loser, sell your stock and get out of it. Otherwise, lighten up and admit they are onto something. They have secured rights to the UF patents, the science works. It's a matter of packaging and marketing. The market for this is huge. Even if a competitor comes out first, this device (FAIMS/Mass Spectrometry) is the "gold standard", even by the competitors own admission.
There are holes to be poked in the competitors technology - try homing in on them for a change.
Exactly correct. The last press release indicated that it detected THC and some metabolites - my initial understanding was it would only detect THC. Their approach seems to be to try and extrapolate the "decay" based on concentrations of THC and the select metabolites, to give a time frame when the person ingested the THC. My concern with this is that if a person is a heavy user they will have more metabolites (residuals) in their system so the correlation may be skewed. By sticking with THC alone it's a number that can be evauated against a legal limit - easy to pass or fail without ambiguity.
In my opinion, no. Specific components that touch the body (the mouthpiece) would need FDA approved materials to be used, but this is not a medical device, it is a diagnostic tool for law enforcement. It needs to be proven by the company (Cannabix Technologies), and validated by a third party to perform as advertised, to show that it does indeed measure the THC levels in blood by breath analysis. This proof of operation needs to be accepted by the court system.
It's not up to Cannabix Technologies to prove impairment at any particular concentration - just to prove the presence of a substance that is thought to cause impairment. Proving impairment is up to the legal system, and the allowable levels of THC or other metabolites may vary from jurisdiction to jurisdiction, just like blood alcohol levels.
It appears that the test units that sample external bodily fluids detect not only THC but also metabolites. The FAIMS device is discriminatory, in that it focuses on the unmetabolized THC, making it relavent. Sensing if someone ingested THC two weeks ago does not implicate them in DUI. The correlation between THC levels and impairment is another argument - the courts will need to set "not to exceed" levels, as they have done with alcohol. Accurate detection of THC levels in blood by sampling and analyzing breath - that is the crown jewel here.
Or the bong...
Not neccessarily. Tesla vs Edison. Tag molecule - then detected how? Lots of holes in the info they have put out there.
If the logic of first to market was true we'd only have one auto manufacturer. There is plenty of room in this market, I'm hoping Cannabix is first, there is still plenty of room for Hound and anyone else who decides to jump in.
The potential market is huge - between law enforcement, private companies using these technologies to enforce substance abuse policies, etc. With our friends at Hound Labs being so secretive as to how they are achieving their measurements I am personally sceptical as to how their device works. With the Cannabix model and the information they have put out I have a lot of confidence in the UF analytical chemistry department and what they bring to the table. My opinion is that Cannabix Technologies is a legitimate contender, Hound Labs may or may not be. It seems that Cannabix is moving forward, albeit at glacial speed at times, and will have a marketable unit in time. Without more info on Hound Labs I can't even speculate on where they are, if their unit should work as stated, etc. With recent articles stating that spit and urine are unreliable on determining blood concentration I am much less worried about those competitors. So, my conclusion is that Cannabix has been more open as to how their device works, and may be either first or second to market with a workable unit. The market is big enough for a handful of units from different manufacturers, I'm still holding long.