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HIGHLIGHTS: Study Says Cannabinoids Prevent Covid … or Does It? California Governor Indicates Willingness to Tweak State Cannabis Taxes
GOLDEN NUG: Patent Battle Over Crystal Psilocybin Heats Up + More?!?
+ More?!? Ohio Ballot Make-up Signatures Collected + Mississippi Senate Sends Message to Gov with Medical Marijuana Bill Passage
Hybrid News/Analysis Extract from 420+ Sources: Featuring all the developments this past week in the cannabis world on the federal level, state legalization/implementation, science/technology, business deals, international scene, social equity, celebrity cameos, and miscellaneous ridiculousness.
DISCLAIMER: All opinions are my own, and not those of my law firm Zuber Lawler. Even though I drop knowledge bombs, the show is NOT legal advice.
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Send comments to: jp@globalcannabistimes.com
Transcription
WE NOTE THAT THE FOLLOWING TRANSCRIPT WAS CREATED BY A ROBOT THAT MAY NOT HAVE APPRECIATED THE FINE POINTS AND NAMES SPOKEN BY JON, SO PLEASE FORGIVE ANY TYPOS, OR BIAS IN FAVOR OF OUR FUTURE ROBOT OVERLORDS:
Welcome to the January 18th, 2022 episode of cannabis last week, brought to you by global cannabis times hybrid news analysis extract from over 420 sources each week. I’m your host, John Pirro and our highlights stories this week. Research shows the cannabis blocks COVID or does it, and the California governor, it says he’s open to tax reform in the state and our golden nugget story.
There is appears to be a brewing patent war in the psychedelics based relating to psilocybin. Now, before we get down to business, I need to make my standard. Disclaimer, by day I practice cannabis and or IP law, the law firms, Uber Lawler. So I need to note that any views expressed during this podcast are my own and not those Zuber Lawler.
For example, if I was to say that the opening credit sequence of the new show peacemaker on HBO, max is the first show where you really don’t want to click skip credits because it never gets old or not hysterical. That’d be my own view. And not that the super Lawler. And I always need to say that this podcast is not legal advice.
So don’t pretend that. And as always, if you have any feedback, please send it to jp@globalcannabistimes.com all right.
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HIGHLIGHTS
On to the news and some big news this week, certainly that was covered by different news outlets. People were saying that cannabis prevents COVID according to some research. However, I want to file this under D skunked as in time for me to do some myth-busting on this, right?
So the study. And it was related to CBDA and CBGA and I had to have a couple more notes. The study was not performed in humans. It wasn’t even done in mice. It was done in a computer simulation. And how do you know you can trust the computer? It might just be trying to figure out a way to get all of humans, stoned, get them COVID and then take over the world.
But the bottom line is a study relating to cannabinoids CBDA and CBGA which disappear and convert to CBD and CBG. When. And was knocked on, on humans or anything is not actually reliable. And all the study was really good for was giving some thought or for jokes on shows like Jimmy Kimball’s. So I don’t know why I made it highlight story, but I figured I had to address the fact that this was getting news based on a study that really wasn’t that many.
Moving over to California. As I like to say, I think, you know, the California combating the illicit market is one of the biggest stories in all of the industry. And during my Toker dominoes for 2022 episode, I finally said that something’s got to give this year in California. Because it’s just too much, you know, problems with the illicit market.
And it’s really, really bad. And already this year, there is potentially some progress because California governor Gavin Newsome presented his budget proposal for the year and which he revealed that he quote unquote supports cannabis tax reform, and plans to work with the legislature to make modifications to California’s cannabis tax policy, to help stabilize the market end quote, he went even further.
Regarding the budget of the press conference in this issue saying, quote unquote, there is intention by having that language in the budget, adding that as his goal, to look at tax policy, to stabilize the market. As I pointed out Toker dominance for 2022, the easiest way, and probably the most logical way to do this would be to address the cultivation tax.
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But bottom line. Early stages here, but there’s some recognition from the top of the government and the state that this is an issue and there’s an openness to doing something about it. So let’s see if my Toker dominance for 2022 comes true on that.
GOLDEN NUGGETS
Moving over to my golden nugget story of. Husana Institute a nonprofit medical research organization revealed the true crystal forms of pharmaceutical psilocybin.
Now, the reason why they did this actually comes down to patents, COMPAS pathways. One of the behemoths in the psychedelic space has been awarded multiple patents relating to the use of crystallized psilocybin to treat certain mental health issues. They have five different patents it’s been awarded.
That would have Sama is doing here. And this study in terms of trying to reveal the true crystallized form of psilocybin is that they’re trying to say, essentially, this has been out there. This is natural. And that this has appeared in numerous places throughout the history of synthesizing silo Seidman since 1959.
And the reason why they’re doing this is in patent law. If you could find that something was pre-existing, it was out there. Then it is not novel. What someone’s trying to protect in the patent and therefore cannot be patented. Or if a patent is awarded, it can be invalidated. And so comp has pathways essentially, so that they invented the crystalline form of psilocybin and they have a personal proprietary model.
Called comm 360. And that’s essentially what people, including Husan are now trying to attack. And so there are people who were concerned that some of these patents are going to cripple innovation in the psychedelic world and hold back medical applications for it. And so actually the petition was filed December 15th.
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That’s going to challenge a patent grant to accomplice pathways on March 16th, 2021. And there were additional petitions, challenging, some other patents awarded to compass by the freedom to operate a nonprofit, seeking to advance science and education by fighting bad and mistakenly issued patents. So this is certainly something to keep an eye on, uh, cause it’s very, very important to develop.
Of the industry for psychedelics relating to medical usage.
FEDERAL NEWS
Now moving over to federal news or better off fed. As I like to say it, Colorado representative ed Perlmutter, who has been one of the staunchest supporters of cannabis, legalization, and Congress, he was the author of the safe banking act that still hasn’t been able to get fully passed, whether it’s by itself or as part of the NDA as they tried in 2021.
Unfortunately representative Perlmutter has announced that he is not going to seek re-election. So Eddy boy did promise to get the safe banking act passed before he leaves, but let’s not hold our breaths. So when it comes to federal legalization and things like the safe banking act, I’m now going to say.
Keep your expectations, low expect swag. So that you’ll be surprised if you get gas. Speaking of gas, the first time I heard someone use that was always from California, smelling somebody saying, Ooh, that’s gas. And I was just like, huh, is he saying that that’s a positive thing or a negative thing? And it should have clicked in my head, but with the associations with sour, diesel and diesel, that gas was a compliment.
But now I know, and if you didn’t now, you know, too,
STATES NEWS
Moving over to other state news in Ohio. I just want to give an update. This is my other Toker dominoes for 2022, saying that Ohio is going to legalize adult use by ballot. In November, we have an update on one of the ballot initiatives. So to recap quickly, they needed to get 130,000 signatures to present it to the state legislature.
At which point, if they reject it, then they needed another 130,000 signatures to get it onto the ballot. And so for that, Batch that they need 130, they got 200,000 signatures. And I was like, whoa, that’s a lot of signatures. Why do they get so many over what was required? Lo and behold, it was because I guess they expected what would happen, which was election officials knocking out 90,000 of those signatures.
And so they needed to get another 13,000 within a deadline in January. And I’m happy to say they got 30,000 by the day. So fingers crossed that this will be enough this time around because the governor Mike DeWine, again, came out this week saying it’s not a favor legalization and Republican leadership.
And the state house does not seem to be on board. So we really not expecting much legislatively. And so the hope is that they’ll get this 130,000 now. And then the lady will collect another 130,000 later and get on the ballot. Onward cannabis soldiers in Ohio, moving over to the continued side of medical legalization in Mississippi to recap voters back in 2020, voted for medical marijuana in the state, and they turned around in court and knocked it out on a ridiculous technicality.
And then there was a lot of talk that there’s going to be a special session after the legislative session closed in 2021, but Mississippi governor Tate Reeves kept on moving the goalpost and the issue that was holding everything up was the amount of that medical patients will be allowed to possess.
And so now the new legislative session started in 2022 and the Mississippi state Senate sent a very clear message to the governor. So just two days after this new bill, the Mississippi medical cannabis act as essentially trying to move forward and, you know, put the will of the voters into actual law.
Two days after legislation was introduced this session, the Mississippi state’s. Voted 46, 2, 5 to vote for passage, and then they’re moving it on. So this actually has the same amount that medical patients would be allowed to possess as the last time around. So it’s kind of towing that line in the sand against the governor.
And so now they’re going to push forward and see whether or not the governor will proceed. So moving on in Virginia. And 2021 Democrats controlled everything, the governorship, as well as the state legislature and they move forward and passed adult use. However, the actual market was not going to be up and running until 20, 24.
They decriminalized and pushed that deadline up until 2021. But what happens now is you have a three year gap essentially, where the only thing that’s in place is the illegal market. And then. The big thing that was not expected when they passed it was that the Democrats lost the governor’s race and they lost one of the houses of the state legislature.
And so with this gap before adult use market, I guess actually set up the question was what will the new Republican leadership do about it? And here’s the interesting part, parts of that law need to be reauthorized. And so now it’s sitting in the hands of Republican leadership who were not in favor of.
And so we need to see where that knows now, new legislative session kicking off on January 12th, whether or not the Republicans are going to move forward with it in the same form. And early indications are not so much of a surprise that some of these social equity provisions of the bill are not going to end up being reauthorized where they’re going to be cut out in other ways, as in certain amounts that we’re going to be collected from taxes and dedicated to social action.
Most likely will not be happening with the Republicans in charge. Moving over to Kansas. One of the few remaining states that does not have any medical or recreational legalization of marijuana in any form. So last year, Kansas Democrats passed a medical cannabis bill through the states house of representatives, and they had governor Laura Kelly Democrats sitting, waiting on there’s other side.
However, Republicans and the state Senate stop the bill from advancing to the governor. However, it appears that this year there may be some movement from Republican legislators because a poll came out that surprise per prize showed 70% support for medical marijuana legalization in the state. So now the house Democrat leader, Tom Sawyer, yes.
I didn’t make that up. His name is Tom Sawyer, meaning his parents are the last name. So I realize we’re going to go for it. We’re naming our kid, Tom Sawyer, which is amazing. So house democratic leader, Tom Sawyer released some constitutional amendments, which if passed would actually put medical and adult use legalization on the 2022.
So instead of legalizing the plant outright Republicans that oppose cannabis may shift and actually put their support behind just taking the issue to voters. But, you know, despite what Tom Sawyer did, Republicans are in no rush. See what I did there, Tom Sawyer rush. Yeah. Excellent song. Couldn’t help myself.
Hashtag dat jokes. 2022. All right. Moving on to Florida. Unfortunately, marijuana activists there I’ve realized that they’re not going to be able to get it on the 2022 ballot after some hiccups in Florida’s court. And now they’re going to be eyeing legalization in 2024 by ballot. Moving on to Texas where a democratic gubernatorial camp.
Beto O’Rourke has made it clear that he’s going to be moving for full legalization in the state if elected Texas, governor Greg Abbott, the incumbent running for office again, and now effectively endorsed marijuana decriminalization at a recent campaign event. But he wasn’t totally up to date with what was going on.
Cause he misstated current policy saying it was already in effect when it’s not. And then moving over to Colorado and a nice big Merimbula. Colorado and 2021 collected over $423 million in revenue from marijuana sales broke its own record from 2020, which was $387 million. So Hey states out there that don’t approve adult use.
Look at the money that you could be making,
BUSINESS NEWS
moving over to business or green new deals. Budweiser owner AB InBev until Ray have actually ended their partnership in Canada relating to beverages. However, Tilray snatched up for 5 million, a couple more micro-breweries small brewers. So they are clearly still making moves in the beverage sector.
maxed boxed cannabis industry hiring platform. Vonks has completed a $19 million series B financing. Which they’re intending to use to kind of expand the platform into new markets, to support the influx of jobs and new states that are legalizing. And other business news. MSO is Sen wellness is actually sued med men.
So the, to enter into a deal in which men, men would sell its New York location to ascend wellness for approximately I think $60 million that’s happened right around when New York legalized, however, med men then canceled the. And now a son wellness is suited seeking to the compelled to complete the sale.
So we’ll keep an eye on that and see what happens. Ben men apparently did not cite reasons for why it backed out of the deal, but more information should come out during the lawsuit. And, and one of my favorite names. Cannabis companies news with it. Viola. Now let’s to be clear, my favorite named are juicy and schwas cause they’re fun to say, but Viola is one of my favorites because of its meaning.
So this company was co-founded by former NBA player Al Harrington and he named it after his grandpa. Who had many, many eye issues, but then medical marijuana helped her basically miraculously in his opinion. So very meaningful tugs at the heartstrings. I love it. And so Viola is announced that as closed a $13 million equity funding round, that’s going to help them expand into Illinois, Maryland, New Jersey and Pennsylvania is the intention.
SCIENCE & MEDICAL NEWS
Moving over to other science and medical.
Something else has come out as questioning whether brainwaves, maybe a better way to test intoxication from cannabis. Now I’ve paid a lot of attention to the development of some of these breathalyzers that are meant to weigh intoxication in the moment. Say if you were pulled over when driving, cause that’s a point that’s used by, you know, prohibitionists saying that, Hey, you know, if you legalize increased amount of people who are driving intoxicated leads to accidents and we need something to be able to measure how intoxicated people are from cannabis.
However, here’s something I didn’t realize. And all those articles that I read, because THC is a different drug. By comparison to alcohol, you can’t necessarily correlate THC levels in the blood or breath with functional impairment. So actually a recent meta study, which is just an awesome word in concept.
They specifically looked at whether driving impaired. Confirm this, you know, that you can’t necessarily determine how impaired someone is by the level of THC in their blood. And it turns out that there actually isn’t a relationship between THC concentrations and a body and unsafe driving. So a new study came out where different colleagues are looking at the possibility of using brainwaves.
And they’ve figured out some way that this actually could be a little bit more. And so they’re thinking that a brain and behavior based metric as in eye tracking or cognitive testing, rather than say a breathalyzer measuring how much THC is in the blood or breath would be more accurate, but I can’t really figure out how.
Possible it is to do brain scans on the side of the road, but little interesting thing to keep an eye on. I thought it was very, very interesting to note that the premise upon which these breathalyzers or being based might not actually help determine intoxication.
INTERNATIONAL NEWS
So moving on to international news, Italy, some exciting news and progress there.
Italian official certified that activists collected enough signatures to put a marijuana and psychedelics legalization referendum on the country’s ballot, the spring. But there are a couple more procedural steps that need to be had. So they actually turned in 630,000 signatures for the master. And, and as I noted, it would also relate to personal cultivation of psychoactive plants and fungi like psilocybin mushrooms.
So they turned in the signatures. Now that they’re confirmed, it’s going to go to a separate court, which will determine the legality of the proposal provisions. And so the upcoming deadlines to keep in mind here are that court will issue his opinion by February 15th, and then it would set a date for the vote.
And so with the vote, they’re expected to give a chance to weigh in on. Sometime between April 15th and June 15th. So it is possible that by June 15th, we got to have major reform in Italy, by the voters moving over to Thailand, which was announced that it is going to be looking for full adult use legalization in 2022.
They’re actually taking steps to try and register certain strains associated with Thailand originating from. For, I guess there’s a certain type of protection with UNESCO, which is the United nations educational scientific and cultural organization. And so they’re looking to protect approximately 30 strains that are dominant into the country.
And it’s going to be an interesting thing to keep an eye on because if Thailand does this, perhaps other countries that have very, very famous strains associated with them, like say Mexico or Columbia might follow suit.
MISCELLANEOUS NEWS
Next stop and miscellaneous news. I really, I thought this one was amusing. So a poll by prohibition has group smart approaches to marijuana.
Sam, which is kind of a random acronym. I personally think that they should change their acronym to broaden it since psychedelics are so important these days and moving forward, I think they should change it to smart approaches to drugs. Yes. Because that would make their acronym sad because they should be sad because they’re on the wrong side of history.
And that’s definitely one, that’s my own opinion right there. So unfortunately for the currently acronym center, They commissioned a new set of national and state surveys and lo and behold, what did they find? Just like Gallup and other polls. And they found that a majority of people in the country in different states want legalization and either adult or medical.
However, of course they spun it to their own ends and said, oh no, no, no. Uh, no majority of people wanted any of this by splitting it out into the different groups, favoring adult use legalization, which was the highest percentage of. And also splitting out into medical legalization. And so they just tried to spin it and make it seem different than every other poll that’s come out that shows how opinions have shifted and how many people are in favor of legalization.
But, you know, this is why you have to kind of look through, I want to study says, Hey, cannabis fights. COVID you need to go into the detail. I’m happy to do that for you. Just like right here, you need to go into the details of this poll and see how much spin is involved in it.
PSYCHEDELIC NEWS
And moving onto some interesting and really great psychedelic news in Washington state bills introduced in the Washington state Senate that will legalize the assisted adult use of silo site.
It was pushed forward by a couple of democratic state senators. And it also has a social equity component, some help for small businesses and revision to permit, to use the psilocybin at home by patients with certain medical conditions and the bill similar to Oregon, and what they’re working on with set up a licensing system through the Washington state department of health.
So let’s see how that bill progresses and we’ll keep an eye on it. And with that, I wrap up my news for the week. And as always, I say, stay grassy my buds, and I will see you next week.
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