It’s Monday January 23rd 2017. Our main story tonight revolves around Germany’s unanimous decision to legalize Cannabis for medical usage. But first his is other news from the Cannabis industry.
In “That Don’t Take Long” News...
There is a new musical comedy being tested out in North Hollywood and it’s name is...Weed Shop. "Weed Shop" was written by Becca Grumet and Madelyne Heyman. It premiered October 28, 2016 at the Eclectic Company Theatre in North Hollywood. After a successful 6-week run, it was extended for an additional 3 weekends until January 29.
"Weed Shop" follows Dave, a dispensary owner, and Alicia, an infectiously cheerful doctor who decides to set up her new marijuana-friendly practice near Dave’s “weed shop” in Los Angeles. The writers describe it as a “coming out” story of sorts, reminding audiences to feel proud to be who they are, especially if that’s a connoisseur of medical marijuana.
"Weed Shop" was originally created by Becca Grumet in 2012 as a 6 minute short film for the School of Cinematic Arts at the University of Southern California, and went on to show as an Official Selection at the LA Comedy Film Festival. It was developed into a full-length stage musical co-written and produced by Grumet and Madelyne Heyman. Madelyne Heyman won the 2016 NoHo Fringe Festival award for "Best Director" for directing Weed Shop.
In completely fake news…
Fox News is actually reporting that North Korea has made marijuana legal. That it’s abundant, cheap and sold openly to Chinese and Russian tourists at major markets for about $3 a pound.
This is completely false. North Korea lists cannabis in the same category as cocaine and heroin and anyone caught with any are sentenced to death.
Americans have been sentenced for years in North Korean prisons for minor offenses such as stealing a political banner and leaving a Bible in a public place.
So if you’re thinking of heading over to North Korea for a stoners retreat I’d advise you cancel those plans.
However, since cannabis grows naturally in every single region of this planet with the exception of the north and south poles; though even there I’d imagine once the ice is gone a pot planet will pop up too; I can only assume that the marijuana that could be found there would be of untouched origin. Meaning it’s genetics would be so pure as to possibly create a totally new strain unknown in the current market and then exponentially taking that strain and introducing it to the current world's crop of weed.
So if you did want to risk life and limb and attempt to find cannabis growing in North Korea. Then you’d probably make a killing in the market and have major bragging rights in the industry.
In Oh-Oh News...
Washington State’s Main Street Marijuana owner Ramsey Hamide and Uncle Ike’s owner Ian Eisenberg, who own three storefronts apiece for six stores total have joined forces in an attempt to sell both companies.
The asking price…$50 Million Dollars.
Now there are two ways to look at this. You could see the attempted sale as an opportunity to quickly unload their businesses taking advantage of a strong market and an upcoming uncertain period of time for Cannabis in the Trump administration.
You could also see it as an excellent opportunity to corner the Washington market by creating a unifying brand within six stores that could challenge the upcoming corporate encroachment into the industry.
However, that last thought would be incorrect because in Washington State a single individual or company can not possess more than three cannabis business licenses.
Main Street Marijuana is the top seller of Washington cannabis and Uncle Ike’s is a close second. The sales figures, which are available to the public on 502data.com, show the combined stores as doing $50 million in gross revenue last year alone.
In total the combined stores have sold more than $71.2 million dollars gross since adult-use sales began in 2014.
And I keep emphasizing the term gross because here’s the kicker. When you take out tax, utility, safety, security, employees, product both store owners admit that they really only made $3 to $4 million dollars.
Now that’s a scam-and-a-half.
In “Go On Brother Take The Shot” News...
The hemp industry has decided to file a judicial review against the DEA for their recent classifying of CBD oil as a controlled substance. They are alleging the agency overstepped their bounds by enforcing the new coding system.
The hemp industry’s petition questions the consistency of the new rule, comparing it to overarching laws like the Agricultural Act of 2014.
In response to the lawsuit, the DEA maintained that CBD oil and other cannabis-based extracts will continue to be Schedule I controlled substances.
You know these DEA guys are just waiting for Attorney General Jeff Sessions to give the marching orders into Cannabis dispensaries and make arrests in states that have made it legal.
Finally our top story…
Germany Legalizes Medical Marijuana
German lawmakers have approved legislation allowing patients access to prescription cannabis. The German Parliament’s lower house passed the bill unanimously clearing the way for the law to take effect. Under the new program, expenses for cannabis flower and extracts will be covered by health insurance for patients who have no other treatment options.
Prescriptions will be filled with imported cannabis until a domestic cultivation program is up and running. Cannabis is currently imported from the Netherlands but the Dutch have said they cannot meet the skyrocketing demand in Europe.