As cannabis consumption becomes an increasingly mainstream activity, newly formed venture 420 Entertainment Group is gearing up to debut 420TV , a free, sponsor-supported online video channel to be stocked with scripted and unscripted shows covering marijuana culture, news and entertainment. The name, of course, is a reference to 4:20 the time of day pot enthusiasts have long observed for toking up. Thats now extended to April 20, celebrated around the world as Weed Day. The joint (ahem) venture partners behind 420 Entertainment are OwnZones Media Network , an over-the-top technology and content distributor; Genesis Media, whose investors include the principals behind some the U.S.s largest medical marijuana cultivation and distribution companies (not to be confused with New York-based video-ad analytics vendor Genesis Media ); and Alex Nahai, a former Hollywood agent who runs his own entertainment and branding company. OwnZones, which is leading the JV, declined to identify the backers of the Genesis Media that its working with on 420 Entertainment. The 420TV channel, currently slated to hit in the third quarter of 2017, will feature original episodic series, as well as long- and short-form news, information and entertainment content focusing on all things cannabis. The JVs partners hope to attract a diverse group of viewers, ranging from millennials to Baby Boomers who are either curious about or have adopted the cannabis lifestyle, said OwnZones founder Green Rush and CEO Dan Goman. But why? Theres a ton of pot-related content online already, as well as on TV including Vicelands Weed Week programming block this week, HBO comedy High Maintenance and Netflixs forthcoming Kathy Bates-starrer Disjointed from Chuck Lorre . Goman says 420TV will stand out by serving an audience thats never had a video channel fully dedicated to pot, and he noted that all content will be shot in 4K Ultra HD format.
This would require medical users who are authorized to grow more than 12 plants to do so in a commercial or agricultural setting, or to buy from a medical marijuana dispensary. In other words, the tax-free ride is ending at 12 plants for medical patients. Though a tougher regulatory environment might not seem like a good thing for the industry, it’s actually great news for legal businesses and marijuana stocks. By more precisely defining the legality of who can grow recreational pot, Colorado is laying the groundwork for its legal businesses to thrive. Since Colorado is such a marijuana pioneer, other states may soon Medical marijuana follow its lead. U.S. pot stocks still need a federal “push” While Colorado’s bill is a great step in the right direction for marijuana stocks in the U.S., they still need some help from the federal government to be a viable investment opportunity,and it’s unclear when that might happen. Last summer, the U.S. Drug Enforcement Agency (DEA) had the opportunity to consider rescheduling or descheduling pot and it chose to do neither despite two petitions. The DEA claimed that there wasn’t enough benefit-versus-risk data available to change its scheduling, nor the proper oversight to allow a drug like cannabis to be prescribed by physicians.
More people in the U.S. smoke marijuana than ever before. An exclusive Yahoo News/Marist Poll of Americans finds the majority believe marijuana use is socially acceptable. But they are divided on the issue of whether to legalize marijuana for recreational use. Forty-nine percent Medical marijuana stocks say they support its use for recreational purposes, and 47 percent oppose it. Thirty percent say their biggest concern with using marijuana is that it is illegal. Eighteen percent worry that it affects peoples judgment and decisions, 14 percent report they are concerned it will lead to other drug use, and 13 percent say it has negative long-term health effects. Still in the throes of her grief, Schindel connected with Lori Robinson, another mother who believes cannabis addiction is responsible for her sons suicide. Robinson said her son Shane was vibrant and accomplished before he began regularly smoking marijuana in his early 20s. He quickly experienced severe psychiatric issues, including multiple psychotic breaks and hallucinations, even though he had no known history of mental illness. Toward the end of his life, Robinson said, he was institutionalized and locked in a mental unit at the height of his psychosis.
In a report published ahead of the November election, analysts at Cowen and Co. estimated that the cannabis industry is worth about $6 billion in annual sales. Another $25 billion could be added to that from black market sales, and if and when those transition to the legal market, it could be worth $50 billion by 2026, the report found. Marijuana sales rose 30% in 2016 and Colorado, one of the industrys earliest U.S. test markets, generated $200 million of tax revenue from $1.3 billion in marijuana sales last year. But for all of the excitement about the rapid change in the industry of the past few years, there are still many obstacles to overcome and challenges that make investing a risky endeavor. Here are three issues to consider: Check out: Opinion: How investors can separate the winners from the losers in the marijuana industry Will they, wont they The biggest challenge for the marijuana industry is figuring out how the federal government will approach the industry and whether it will enforce federal laws, which continue to ban use of the plant. Marijuana is still labeled a Schedule I substance along with heroin and LSD, creating complications for growers and sellers in the states where it is legal. For now, the industry seems confident that public approval and expanded research will shield it from government interference, but that doesnt make critical comments from lawmakers any Marijuana Stocks less disconcerting.
A report on the legalization of recreational marijuana came Monday, a few days before the unofficial marijuana holiday, from Merceds marijuana consultant, Fairfield-based SCI Consulting Group . Thursday, April 20, is considered a weed holiday to many marijuana aficionados. The City Council approved four medical marijuana dispensaries and indoor cultivation during a July meeting. Those dispensaries would not sell recreational pot. Merceds spot along Highway 99 could make it a dream location for attracting marijuana buyers, according to Neil Hall, the citys pot consultant. Voters approved Proposition 64 in November, making recreational use of marijuana legal for adults 21 and over. Adults are marijuana allowed to carry 1 ounce of marijuana or 8 grams of concentrate under the new law, which also allows people to have up to six plants grown indoors. A tax on a specific item, like marijuana, requires approval from voters, Hall noted. He went on to say the city could start with relatively low taxes to allow the businesses to get on their feet, because the legitimate business can help quash the black market marijuana. You want these people to be in place as long as possible as long as theyre following the law, he said. This story will be updated.
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Your notification has been saved. There was a problem saving your notification. Whenever Jon Alexander posts new content, you’ll get an email delivered to your inbox with a link. Email notifications are only sent once a day, and only if there are new matching items. Save Buy Now Kevin E. Schmidt Specific lighting, temperature and humidity conditions are used in each room for the specific stage of development of the plants at In Grown Farms LLC medical marijuana grow house near Freeport, Illinois. An early adopter of Illinois’ medical marijuana program isn’t yet sold on a push marijuana in the General Assembly to legalize recreational use. Ben Kovler, co-owner of Chicago-based Green Thumb Industries, told me this past week that he’s an “attentive listener” to conversations in Springfield that could ultimately legalize possession and use of recreational pot. Kovler’s neutrality surprised me.
Heather Steans, a Chicago Democrat, said. Taxing and regulating pot, she said, would create jobs and generate an estimated $350 million to $700 million a year in tax revenues for the debt-ridden state. The hearing generated some hard feelings by marijuana opponents who weren’t allowed to testify. Riverside Green Rush police Chief Tom Weitzel represented the Illinois Association of Chiefs of Police, which opposes the measure. Barbara Brohl Abel Uribe / Chicago Tribune Barbara Brohl, the czar of Colorado’s marijuana program, discusses her state’s experience in legalizing marijuana during a hearing to legalize marijuana in Illinois on April 19, 2017. Barbara Brohl, the czar of Colorado’s marijuana program, discusses her state’s experience in legalizing marijuana during a hearing to legalize marijuana in Illinois on April 19, 2017. (Abel Uribe / Chicago Tribune) “I don’t know why they didn’t reach out before this and ask us for our opinion and see if there’s some compromise,” he said, “because our officers are the ones doing the enforcement.” Sponsors said opponents and advocates would have ample opportunity to testify at future hearings. Brohl, who heads Colorado’s Department of Revenue, said there are about 3,000 licensed marijuana businesses in her state, about half medical and half recreational. License holders undergo extensive background checks, she said, and individuals are also allowed to grow up to six plants for their own use. Some Republican lawmakers on the panel expressed concerns about public safety and how the industry operates largely with cash, because federal regulations discourage normal banking and credit card use.
On Capitol Hill, cannabis remains a schedule I drug, meaning it’s illegal and is deemed to have no medical benefits. Being listed as a schedule I substance comes with a number of inherent disadvantages. For starters, weed businesses have very little or no access to basic banking services. Since financial institutions normally report to the Federal Deposit Insurance Corporation (FDIC), and the FDIC is a federally created entity, loaning money Medical marijuana to pot businesses or even opening a checking account for them could be construed as money laundering. If the federal government wanted to strictly enforce federal law at some point down the road, financial institutions that were caught offering basic banking services to cannabis businesses could face fines and/or criminal charges. Image source: Getty Images. Companies that sell federally illegal substances like marijuana also get shafted come tax time. U.S. tax code 280E disallows businesses that sell federally illegal substances from taking normal business deductions, which ultimately leaves these companies to pay far more in taxes than any normal business would.
(Drew Angerer/Getty Images) NEW YORK DAILY NEWS Thursday, April 20, 2017, 2:04 PM ALBANY It will be a day late for Weed Day, but home delivery of medical marijuana arrives in the city on Friday. Vireo Health, one of the five licensed pot growers in New York, announced Thursday that it will launch home delivery service to certified patients in in Brooklyn, Queens, Nassau and parts of Suffolk County on Friday. The company is the first of the growers to launch a home delivery service and it plans to gradually expand its delivery zone into Westchester, the Bronx, Manhattan and Staten Island. “We’re excited to make history tomorrow with New York City and Long Island’s first-ever state-approved medical marijuana deliveries,” said Vireo CEO Ari Hoffnung in statement. History of 420: how it started and exploded “New York’s medical marijuana program now includes a wide array of patients and our home delivery program is designed to not only Marijuana Stocks serve those patients who are home-bound or have trouble visiting a dispensary but also those who will appreciate its convenience,” Hoffnung continued. Certified marijuana patients or family members of patients can sign up for home delivery program updates by visiting vireohealthny.com. New York launched its medical pot program in January of 2016 but it has struggled to attract both patients and medical practitioners willing to proscribe the drug. (Drew Angerer/Getty Images) Thursdays announcement came on what is often referred to as Weed Day because the date April 20 or 4/20 corresponds with a numerical sequence commonly associated with pot smoking. In January, Vireo, which operates dispensaries in Queens and White Plains, became the first pot grower in the state to win approval for a home delivery service as part of the Health Department’s efforts to improve access to the drug.
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A tempting treat? If you own a dog, youve surely witnessed his or her notorious eat first, ask questions later attitude. Even cats are known to take a curious nibble without much hesitation. This can be dangerous if they ingest some form of marijuana. Before you start picturing glassy-eyed dogs or chilled-out cats, its important to understand the difference between veterinary and human products. Since the relaxed laws around marijuana, vets have seen a steady rise in emergency visits from pets who have chowed down on their owners stash or munched on a marijuana-laced baked good. One emergency animal hospital in Colorado reports that it treats five dogs a day for ingestion of marijuana, according to Fox31 in Denver . The fact is marijuana the Cannabis Sativa L. plant is toxic to dogs, cats Medical marijuana stocks and horses, according to the ASPCAs animal poison directory . Symptoms of ingestion include: lack of coordination, dilated pupils, depression, vomiting, lethargy and hyperactivity.