Cannabis Legalization News Podcast
🌿✨ "Cannabis Legalization News" 🌿✨ - Dive into the latest on cannabis laws with hosts Tom & Miggy, Illinois dispensary owners! 🎙️ Each episode, we unpack state regulations, discuss impacts on consumers & businesses, and share expert tips on navigating the cannabis legal scene. 📈🌱
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Cannabis Legalization News Podcast
How Michigan Overtook California in Cannabis Sales: Strategies, Regulations, and Future Trends
Ever wondered what it takes to run a successful dispensary in a market riddled with taxation and regulatory hurdles? We'll break it down, using Washington State as a case study to discuss the impact of misleading legislative bills and the potential benefits of rescheduling cannabis to Schedule III. From the importance of public comments during regulatory changes to strategic advice for multi-tenant facilities, we cover the complexities of navigating the cannabis business landscape. We also dive into the challenges of entering the real estate market, focusing on zoning, contracts, and the delicate transition from a current job to a new business venture.
What does the future hold for cannabis legalization and federal regulations? We explore the varying state policies on cannabis and hemp, the risks of transporting cannabis across state lines, and the political landscape in Florida leading up to the 2024 election. We'll analyze the economic impact of an oversaturated cannabis market in Colorado and discuss the rise of alternative cannabis products. Finally, we address the ongoing challenges researchers face, the potential for significant federal policy changes, and the influence of international treaties on marijuana legalization. Tune in for an engaging and comprehensive discussion on the ever-evolving cannabis industry.
Welcome to another episode of Cannabis Legalization News. We have another historic episode for you. More licenses were awarded, New things happened in cannabis, including in hemp. Licenses were awarded, new things happened in cannabis, including in hemp, and we are going to go over all of it today, including our lead story. What state now has dethroned California as the king of cannabis sales? Let's go find out together. Thank you so much for tuning in. My name is Tom. You can find me over at CannabisIndustryLawyercom and this is our podcast. Cannabis Legalization News. Miggy, let's go over the trending stories. Let's what up yo. What is up.
Speaker 2:How was your week? Good, good, you know, I almost didn't make it to you. My wife got attacked by some dogs outside, so uh Roving dogs in Seattle, everybody Roving dogs. Big city problems, but it's been handled. She's okay, everything's good, but this California stuff.
Speaker 1:An idyllic day. Over here in Peoria, Illinois, We'll be opening a dispensary and there will not be any roving packs of dogs invited.
Speaker 2:This guy Keep trying to get me to come out. There, I mean, I will be coming out.
Speaker 1:You're going to come out for at least the opening and then you're going to be an absentee owner checking the mailbox for your money after that. But you know.
Speaker 2:I hope I don't be so absentee. But you know, in this ever-changing landscape, you know, since we've been talking about this, since I've been, you know activism, you know California's been the biggest thing, right Like it's Cali weed and Cali this and that, but hey, they're not number one. No, more.
Speaker 1:Well, let's hit the trending news and let's go to our main story of the week. This is out of SF Gate, and, for those who are not in the know, sf stands for San Francisco. Sf Gate is reporting that California has been dethroned as this state now sells more legal weed on June 5th Guess what state it is? Survey says that's right, michigan. And so Michigan sold 22 million cannabis products in March, whereas California sold only 21.3 million products. Do you know what the population disparity is between Michigan and California? No, it's about a 4X. Not quite a 4X.
Speaker 1:Yeah, because there's about 11 in Michigan and then there's about 40 in California, so you're looking at about four times the population and they sold more products. Because Michigan has done something very well they have removed any excuse from getting into the industry and so, like you have to get a license if you want to be in the industry. We'll have another story here out of Colorado later in the broadcast. That kind of shows what happens when you have one of these extremely open market states.
Speaker 1:Low prices is a good thing, it's good for the customer of Michigan products, but then also there's no excuse to have the guy down the block and so they're blaming price disparity in California, saying it's too expensive to go to the dispensary and it's too easy to not follow the law. So that's not the case in Michigan. It's very inexpensive to go to the dispensary, has one of the lowest tax rates in the country. And that may be how you should do it. You should start with the taxes low to wipe out the you know, legacy or hemp markets and then regulate the hemp markets and then raise the taxes from there. But you know that's just how it usually works, like the taxes now on cigarettes are much higher than they were 50 years ago.
Speaker 2:I mean everything, right, everything's, you know houses, gas, everything, everything. The metric here is very small, though, when it comes to like the difference right? Michigan sold 22 million dollar cannabis products, whereas in march, california only sold 21.3. So, with that large disparity of population, and yet they have almost matching prices. That's crazy, do Do you think, though, the stuff in Michigan was mostly sold to Michiganians, michiganders?
Speaker 1:Not necessarily. And so Illinois will have people go there. Wisconsin, because of the UP, will go to Michigan to buy. Indiana buys in Michigan, ohio buys in Michigan, heck Will from Kentucky buys in Michigan, heck Will from Kentucky buys in Michigan. And people go to Michigan for the low prices that may come down then. As Indiana Kentucky, I mean our shop. One of the things that I want to do is try to run it like a Walmart, which some people will be like that's terrible. I can't believe you would even suggest that I'm like. Well, the Apple Store model in Peoria, illinois, probably isn't going to fly. Well, that's going to be the fun part.
Speaker 2:Because it's like understanding the market behind the scenes. The price points, because there's always going to be this. For everything that has a store there's price points. Right, everything has what the stores will buy and how much you sell it for the consumer.
Speaker 1:Your gross margin, your net margin.
Speaker 2:And then also we're gonna be looking at the, the population area. The funny thing that that the, the. What I think about us having our, our store coming up is, you know, I used to. You know, as we're talking, you know you're like jokingly be like, hey, let's call it miggies or I call it or you call it brax. But you know, ideally we're gonna have to go to a marketing agency and use people to create a brand. That's gonna be my new employer. I mean in a sense right, like certain extent yeah or.
Speaker 1:But, like again, I'm a, I'm an entrepreneur, so I like to a b test shit. Uh, I was thinking pot shop is a good name because it's two syllables and they're both monosyllabic. But then I just don't know if pot shop is the right cultural um in your workforce so that they're motivated. So that's one of the reasons why I like Brax, but then you can call it Brax Pot Shop, or we can get an existing operator that already has a brand, because that's how it was. Walmart didn't just happen. Sam Waltman worked for Five and Dimes and then he owned a whole bunch of Ben Franklin's. Do you remember Ben Franklin's stores?
Speaker 2:No, I'd never even heard of them. But we're still at the beginning of this stage of this legal deal, the legal pot deal. That's a crazy thing to think of. I wonder when Berner came up, when they got cookies, right, was it?
Speaker 1:a thing in your head. It was a double entendre. I think it was a double meaning to get around. You can't say you're selling weed, I'm not selling weed, I'm selling cookies.
Speaker 2:I think that's what it was. One of the things I'm curious about too, because here in Washington State they were a clothing store before. They were a pot store Anything weed related because it became a lifestyle brand thing. Right, promote, infiltrate and then, once the markets opened up, now you got the licensing stuff. I'm not saying that we're going to be the next cookies, but isn't that the goal that everybody has?
Speaker 1:Walmart's not a lifestyle brand. You want to? I don't think. I hope Berners looks at his P&Ls. I have never heard Berner talk about looking at his P&Ls.
Speaker 2:The only thing I've heard him talk about is he hasn't made any money at weed.
Speaker 1:That makes me think that he hasn't looked at his pnls and so, like we're going to be going over, we're going to have a financial model. The model will probably be updated on a biannual or quarterly basis. I'm not going to be well, it'll depend on the intelligence explosion and how quickly that gets here. But, um, it's going to be one of those things where I like to look at the numbers and then grow those numbers and then so I've already identified like five of the next cities for store, two through three. But then you just you try to get more stores under management. Hey, congratulations. We have another client, social equity client that won in Missouri and now it's his job. I mean, he's the man and so good guy. Talk to him Monday. Disabled veteran, nice yeah.
Speaker 2:But you know, I mean you talk about numbers. You're already looking for the second and third store. I just want to see the first store. That's the numbers I'm looking for. This is the numbers that I know will be the base. This is what's achievable.
Speaker 1:I want the store to be wrapped into the podcast. We're kind of using the store and the podcast together where it's like this is how it is. Then schedule three get it registered with a DEA. We aren't going to be selling hemp. We may be selling some hemp stuff, but I think everything's going to change. One-stop pot shop that's cool, I like pot shop. Pot shop's short. But then the problem is it can get a little bit too funny, and then funny is a good thing, but then you need to have it be. You have to motivate the people to believe in something bigger than what they show up, otherwise they're just going to punch out.
Speaker 2:Well, and I think we can create that environment. Culture slash culture. But you know, I told you I like Pot Shop too. When I was in college in Stockton, jersey, there was a store called the Store that you would buy like your necessities. It was just called we're going to build a store, it's just the Store that you would buy your necessities. We're going to move to the store, just the store. Anyways, we got some other news. We got news out of Washington.
Speaker 1:Your state has made some inroads, which is good because you guys are. Michigan has low taxes. Washington State has some of the highest taxes.
Speaker 2:We do. We do. It hasn't killed our market. I just went to the store and bought another quarter again Low prices.
Speaker 1:How much was the quarter?
Speaker 2:This one was $40.
Speaker 1:That's low prices. You get a quarter for $45 and it's high quality. That's low prices.
Speaker 2:Oh yeah, no, I get it. I think our store logo should. Be sorry, man, here's your $80 eighth, that's the price point.
Speaker 1:Again, that is not the strategic business model. We will sell for less. Again, I'm going to try to run it like a Walmart, because people will drive further to save a buck. Okay.
Speaker 2:I see what you're saying. We're going to look at the vendors. You said earlier you don't want to buy. Well, let's go back to Washington. I mean here, apparently they're going to be getting rid of the patient's tax, but it seems to me that the 37% tax that patients will be exhumed from but there's still a lot of shenanigans in this, because even when they did the patients, the thing that finally killed medical in Washington State SB 52, they call it the Patients Care Act, like there was, like this whole, like we're going to make it better for you guys.
Speaker 1:So it's saving the Children Act, and what does it do? It cauterizes. What do they call it? It's not cauterized, but then it's where you just take the kids, and it's not a euthanized either. It's the castration of all children, and so, like we're going to save them by making sure I never have teenage babies, and so we know we're going to prevent all teenage pregnancies by castrating them, and we're going to call it the Save the Children Act. It's politics is like that, where they will create a name for a bill that is designed to get people to support the bill before they even read it, because you know they're not going to read it.
Speaker 2:Yeah, well, in this bill itself it requires a lot on the grower side. The manufacturers in the state are required to submit all medical, so they've got to create the medical products that's going to be exhumed from this tax, and it's still not a fair way to do things right. So the producer has to come to aim just for the medical market and then they have to find the stores that are going to hold them. So it's a very layered. Not good thing. Good thing, you know. Yeah, get rid of the damn tax, that's what we're about. But uh-oh, should I mute myself?
Speaker 1:No, that's all right. It's quieter now Just when you're done talking. Miggy has a very what I like to call cozy setup, and so one of the things that will be nice for the dispenser to get going and stabilized will be to have Miggy have a studio office where he could join us from the studio.
Speaker 1:I see You're picking up the oh yeah, we can pick up the other audios that are going on, but it's all right, man, and so, yeah, they are going to make it more difficult. And so it's one of those things where it, like on its face and like from the name of the bill, and what it says it's supposed to do seems really good. And then you read it and you're like no one's gonna go for that yeah, no, it's a hundred percent.
Speaker 1:Uh, uh, shenanigans, but uh, you know, uh, that's a step, just like rescheduling right, these schedules, ideal, but we can reschedule right now, that'd be awesome yeah, I think that's one of the things that illinois needs to do, to be honest, is, if they really want to sell some weed, license the dispensary owners. You know, get them licensed so they can get going. The expense is difficult on the operations. So, like schedule three, like we are not going to talk about how we're going to get a bank loan, because, like, I don't want to say we're going to get a bank loan and then you know, get it and then accidentally say the name of the bank, right, I don't want to do that.
Speaker 1:But then, like the banks will provide financing more in schedule three, especially for your real estate development company, and not you like, like that's the thing that most people that have a shop that that they't get.
Speaker 1:Like they want a lease, you know that makes sense because then somebody else owns it, but as a tenant in that space, that is a default if there is a mortgage on that strip mall. So you talk to the mortgage holder and then they have to talk to their lender and then it has to be okay or not okay, and so one of the things that we're thinking about doing is getting a multi-tenant facility so that only a small percentage of the units would be dedicated to trafficking in the schedule one substance and but then by the time we open, we hope that it's not a schedule one substance, it's a schedule three substance and we have a license that we can register with the DEA. That video is finally in the can, so like how we get our public comments that we'll be putting out, and so I'll be hyping the public comments more. It's open. It's open for another six weeks. Leave your public comment. We've got a story about that later.
Speaker 2:Well, speaking of too, I'm gonna put it in the chat because we only have a minute to kill before 4 20 220. Uh, I posted my uh public comment uh, and I have a sub stack because I write. That's how tom knows me, because occasionally I put words together to make sense and uh, that's some good words yo it's been a lot of words for a long time right but uh so I put my, my comment out there.
Speaker 2:So, uh, you know my comments can be a personal one though, because, uh, I did capture a bunch of the uh the sections. But you know, ideally you're doing like a, a large doesn't even tell you in the the comment area. It's like if you are part of an organization, if you have the same message, it's a lot easier for them to you know, group together, opposed to uh, what did, which is like get all personal, but like use their words and then hopefully it comes out or it changes right.
Speaker 1:Right, well, I mean, nick's talking about rescheduling, changing stuff, and so, for the cultivators, rescheduling must change things because of how, the way the international treaties are, unless Congress will do its job. But I'm very worried about Congress, especially over the next four years, as AI continues to go on that slope that it's on. They will continue to just dither and do nothing until it's just way too late, and then they'll do something stupid.
Speaker 2:And that makes it more important. It makes the rescheduling process that's happening right now all the more important to just have any change that we've got going on because neither side's doing anything. This whole what would you call it just the process, the regulatory executive Notice proposed rulesmaking.
Speaker 1:This is rulemaking. We're in the rulemaking time. Hey, a couple of Sundays into the rulemaking time, join us Legalization News. Thank you for tuning in and, if you know, you can get us wherever you get your podcast, that's right. Take us with you on your commute or your next road trip. Hey, good news, everybody. It's 20 past the hour, which means that it is 420 somewhere in the world right now. In New York City, the good people at Collateral Base have been updating their website, and so this will be going live here soon, which is nice, because when I started it, it was a law firm and a consulting company at once company at once and now it is just a consulting company and I've spun off my law practice to a completely different business, which is great, because then I can use canyonsindustrylawyercom as the law practice and collateral base strictly as consulting, because you need to win another license, bro, you really do.
Speaker 2:And then we have to get it started, and that is not quite law, but there is a lot of law in that what we need to do is break the ground in the first place, and then we will get more shit going, for sure all right, yeah, you gotta, you gotta be careful on it.
Speaker 1:And so it's one of those things where it's like we're more interested in the real estate when it becomes own and so like we're at the point now where, all right, let's make a contract to see if we get this zone, and so we'll be doing that and then hopefully have that contract to get it zoned. But a lot of it is real estate identification and acquisition, and so I've found several locations where I'm like, okay, and then let's float a balloon here and see if we can get this thing zoned.
Speaker 2:Sure sure, no, I get it. You're thinking five steps ahead. I just again. This is going to be the new job eventually, one day, that I'm just trying to.
Speaker 1:It's going to be a cash flow for it.
Speaker 2:Yeah, it's going to be the focus it's business that you own.
Speaker 2:Yeah, and it's just right now. You hear a lot of at least I do you try to make an allegory of your life. A lot of people say that one moment that something tragic happens and it slows down and everything seems like a moment or whatever. That's what I feel like right now. Every day I go to work, I really do like my job, and so it's like the transitional process is going to be the hard part for me of like when is it time to tell these people hey, I can't make you money no more, because I have an option now. That's you know.
Speaker 1:I'd say it's going to be when you need more time, but you may not need more time for like five years, and so it's one of those where it just you. Why would you turn like you own the business, you don't work in the business, you work on it, you know, and, and it's kind of like in Arizona or Washington State or Illinois, where it is a limited market state, and so then the places that we're looking at, we may be their dispensary for five to ten years because of how slowly this moves and the type of market structure they've set up.
Speaker 2:Sure, that blows my mind that this is definitely going to be a profitable. You know, done right we'll be fine. But like uh, uh, you know, just again watching it, it's like a watching something slowly come at you and you're like, just just get it over here like the band-aid, just just rip it off, it doesn't get over.
Speaker 1:It doesn't rip off, it just keeps going and getting refactored and then you have another meeting every quarter. Okay, hey, new Hampshire news, by the way, new Hampshire dithering as they do because they are one of the most conservative of the New England states. Now they have reached a deal on a long debated piece of legislation that would legalize weed for adults, a compromised bill out of their bicameral conference committee. This is where I always like to ask the viewers that are tuning in that's why you tune into cannabis legalization news likes subscribes everybody. What is the only state that has one nut? That's right, unicameral. Every state in our nation and our union has a legislature and bicameral structure in the sense that there is a Senate, a General Assembly or a House of Representatives, except for this one state. What is that?
Speaker 1:We're going to ask the audience. Always death when you talk to the audience. Oh, what the Pack is late. Hey, what the pack? Do you know who is the only state that only has one camera? They are not bicameral, they just have a camera. And no, it is not Indiana.
Speaker 2:So I find it funny that you call New Hampshire conservative. Like what is conservative anymore?
Speaker 1:It's the most conservative of the New England states. It basically means that it's liberal but business conservative, as opposed to think of the children. Conservative, not moral conservative.
Speaker 2:I guess that'd be a better one, Moral versus Business conservative. I think most people in general are going to be business conservative. Nobody wants to give their shit away.
Speaker 1:I like to call Nebraska so genetic memory farms. It puts out that Nebraska is it and then they say unicameral. I still like calling it one nut, but it's unicameral. They only got that one camera. They are not bicameral.
Speaker 2:Why is that? Do you know?
Speaker 1:Because it's Nebraska. So if majorities from both houses support this bill in New Hampshire, that will go to Chris Sununu who said he does not personally support it. He's a Republican. So it means you have to say you don't personally support legalizing weed, but he'll maybe sign it and go along because business yay, money right, I've, that's dumb, like I don't support it, but like you're gonna be at the next.
Speaker 2:I was impressed when we went to new mexico how the actual like uh, the business board new mexico, uh, uh, fucking chamber of commerce uh hosted a party for the cannabis people there, which I thought was really neat.
Speaker 1:New Mexico's got, I think New Mexico's the new Michigan, but then they have much smaller population. Now, like, again, this is a hard. This will be an easier industry for New Mexico and Michigan and Oklahoma and California when it's schedule three, because you don't have to pay gross taxes. You're going to gross, you don't have to pay your taxes on're gonna gross, you don't have to pay your taxes on your gross profit, you can pay your taxes on your net revenue, just like a hemp company. And so when marijuana schedule three is a hemp company, granted with like more regulation but surprise regulations coming to the hemp industry, yeah, then you're going to see a much profit, more profitable industry because your profit margins will go from, like you know, 10 to 15 percent to maybe double that of 20 to 30 percent, which is huge.
Speaker 1:And then, like you know, retail, retail. They were dancing, like you know, when they did some discounting um profit margins at, at, at Walmart, for like a total net revenue, 8%, like an 8% profit margin, like in like 1970. And you're like, really You're doing all that crap in retail just to chase $0.08? But that's true, like, what's the profit margin of Kroger, what's the profit margin of Publix? If you're in Florida. We're going to be talking about Florida. What's the name of the, the supermarket? Of course you're in seattle whole foods right, that's kroger too.
Speaker 2:I mean that's the main road. But yeah, we got, we got, we got our trader, joe's traders. But uh, you know, uh, back to your say, though we'll rescheduling it, though also help people like tennessee, uh, yes, right, because very much like you are now talking about.
Speaker 1:Especially this is when it will take time. But when a substance is rescheduled at the federal level, it two-thirds of the states will trigger and so that means they're going to get rescheduled at the state level, and some of these states are like texas. So all those hemp companies if there's a federal method to get them licensed or like so they get apply for registration. Uh, they may be able to hop the state or like force the state to change their medical program to get in line with the federal medical program, like they did with hemp. It could be beautiful for all the patients and then. But then the problem is you have to kick it off to. Okay, now we have a schedule three substance that's natural, that's naturally occurring, that's generic, that's thousands of years old. They've been using it in the population for thousands of years. For the past 80, we've been waging war on it. Didn't work. Going back to what works, maybe we should create our own segment because, like marijuana is kind of unique when you look at it under the Controlled Substances Act, so why shouldn't it be unique, continuing into the future, and then also make sure that the FDCA, that's the Food, drug and Cosmetic Act. That gets in line with what the CSA says Currently. It's fine because it's Schedule 1. So you don't need any of Section 355 of the FDCA, which says that you can't put into interstate commerce a non-FDA approved drug. So why isn't there an exception in the rules for marijuana? Well, because it's not Schedule 3 yet.
Speaker 1:So I'm hopeful that, if the right administration is in power for the next four years, two things First, I really don't trust Donald Trump to be in power when we have the AI apocalypse. I don't when you're going to have a technological explosion. You do not want that malignant, narcissist totalitarian with any power. And then, second is the changing of the administration. Why doesn't Sununu support it in New fucking Hampshire In New Hampshire. Why doesn't he support it? Because he's Republican.
Speaker 2:And that's part of the whole Congress would have to get this shit together for it to be legalized For any descheduling to happen For real descheduling right, uh, but like rescheduling it now, here's something too, because it's going to be considered medicine or whatever. So you need a prescription. Well, all the people who are selling you you don't.
Speaker 1:That's the thing. You okay, it won't okay. So none of it. None of it will change. All the systems that are in place will be the systems that are in place. You can't go to Walgreens and get your prescription for weed filled. There's no method to do that. What I was thinking was the president market.
Speaker 2:Right, Because that's why they're freaking out, because now they're going to be under the same constraints of a cannabis grower. Would the hemp farmer I mean, they're already doing it now, but would they be able to sell it under the guise of now actual cannabis? It's now rescheduled cannabis when they're selling it through the middle. Right, Because we got Crossroads had a question about is there a five gallon per rate wholesale, which is a very ambiguous question. Right, Because it could be a THC flour as far as like a flat rate type thing.
Speaker 1:The commodity price. Spot commodity price.
Speaker 1:Yeah, but that'd be more of the hemp side of things, whereas, like even in traditional, still weed I mean but then, like, that's one of the things, and so, like, under schedule, it's not First off, it's not a schedule, guys, it's an article, and so if you read the single convention from 1961 and check out the video that I have coming out here in the coming week, you'll see me discuss how the rescheduling, the schedule three and our international treaty obligations Again, this is all because Congress doesn't want to do their job.
Speaker 1:So we have to play the rules that are set at the book right now and the executive wants to do this, and so you change the executive and you put in a whole bunch of, like Rick DeSantis or Ron DeSantis, mario Rubio's that hate weed.
Speaker 1:This could all change, but if you keep the same people that are there, then it could be rescheduled. Let Congress do its job eventually to legalize it. But you have to follow international law, and international law says that all the growers need to be licensed and that the United States has to buy all the weed and have it delivered to it within four months of its harvest all the weed and have it delivered to it within four months of its harvest. So you're going to have the DEA issuing licenses, similar to the tax stamps that say okay, you're good, you can sell this weed. Now it's under our control, you're now able to sell this weed and then that weed would go to the dispensary and have all of its taxes or whatever it needs to have paid or whatever tests it needs to have tested on done it's it.
Speaker 2:when you talk about price points, though, like you know, we've always accepted like ten dollar uh gram is where it's at, and and part of that is always coming into like uh cost and reward, right like what I used to like. Drive across, you know, I would definitely like I am not driving across state lines for your weed, you know what I mean. Like you risk my life, not unless there's a lot of money involved, especially with Idaho.
Speaker 1:But then would you drive to Oregon from Washington state to buy weed? Oh, every day. Yeah, exactly. So it depends on what state you're talking about driving through. I'm not driving through Nebraska for you or anyone.
Speaker 2:But when I traveled as a tech, I'd always have my personal consumption because I was going to die on that hill. That was a thing I was like. This is going to be my stance in Idaho if I do get pulled over.
Speaker 1:We're still going to have that person. That person's driving through Idaho right now praying he gets pulled over. Hey, let's go to another crazy state Speaking of crazy states Florida. Florida is a state that is trying to legalize and not legalize weed for the 2024 election. We have two stories, one's from the Tallahassee Democrat and then another one is just out of from the desk of Governor Ron DeSantis, and so one is a poll, and that poll has to do from Fox News asking people if they support legalizing marijuana. It's called marijuana. It's called marijuana in Florida. It didn't surprise me.
Speaker 1:This election at the ballot box needs to get over 60% of the vote. And it's not the only amendment on the ballot. There is also amendment four, the abortion amendment. Now, both of these again need 60% to pass, and the cannabis one, amendment three. Yes on three, unless you're Ron DeSantis, and then you would say no on three. That one is 66% of the vote currently and 69% of the vote support the abortion amendment. So that man right there, ron DeSantis, supports neither of these things. So he is doing policy 70 of his own people, whom he represents, by the way, not that you know that, but whom he represents. Uh, he's doing what they don't want them to do and so like can you imagine that if you were, uh, the president and like 70 of the people were like we're doing it and you're like, no, we're not, we're not?
Speaker 2:doing it. Part of the problem is, though, only 30 of the population comes out to vote. Right, like everybody believes in common sense stuff for the most part, but, like um, you know who, people who really do act on uh, the policy, people who really do try and voice. Voting is one of the ways, and most most people don't you know what is it. Some people just come out for presidential elections. Sometimes I'm guilty of that because I haven't made my local ones, because I'm like, ah, I don't care who's going to win, because I don't know any of them. Like you know, nothing's going to change that much, but we're, as rescheduling, coming up with the hemp, go ahead.
Speaker 1:Well, again, like DeSantis, opposes both amendments. But he's done something else in this state. Did you see that story? He vetoed him. The enemy of my enemy is my friend.
Speaker 1:Ron DeSantis issued a veto on Friday June 7th to Secretary of State Secretary Byrd, which of course Byrd for secretary makes sense in Florida by the authority vested to him as governor of the state of Florida under the provisions of yada yada, and so they do actually have a constitution down there. Of course. Look what he says. A hemp production use continues to increase and we must ensure the products are safe. So I want no regulations. Last year he signed Senate Bill 1676, which instituted a series of products to regulate hemp products, and they were trying to ban it. Senate Bill 1698 were commendable. It would be debilitating burdens on the small business and certainly fail to achieve a purpose. It would dramatically disrupt and harm too many small retail manufacturing businesses in Florida that I have merged due to a recent legislation paying away for commercial use of hemp. He hates weed. Unless you have the exact same effing product and you call it hemp, then he is just for it.
Speaker 2:That is the politics to a t, where it is the same shit but you call it one different thing well, florida's not the first state to uh to try and do this right create a hemp bill with their existing uh cannabis market which, nationally, if it gets rescheduled, they're going to make a baby eventually, like it's going to be a thing.
Speaker 1:They're trying to make that baby. It's just that, yeah, nobody wants it. So the hemp market needs to understand they need to get in the weed market, and then the weed market needs to understand that they have to deal with the hemp market. And so you're going to see both of them and there's going to be, I think, some federal line where it says like, well, or there's going to be just continued chaos for four more years and that it doesn't matter because our robot overlords arrived and they go. You couldn't figure this out. Oh, this is going to be easier than we thought that's true, I mean.
Speaker 2:But we can ask like over analyze everything, right? Uh, I know you saw earlier what a pack had a quick question about. Would they study each strain right? Like like the the whole rescheduling supposed to be an overall right? It's not going to be a, you know, we don't have uh there's a difference between a drug and um a plant. Yeah, yeah, and that's you're gonna have again.
Speaker 1:That's why, like marijuana has always been treated special under the controlled substances act. So we why would that stop? So you would have different rules for marijuana, the natural product, like you know. All your extra go to our shop. Now give me my shop any of them. Products that's marijuana that does include THCA. It will include any edibles, anything that's going to get you high. Then all that chemistry stuff that's not considered Schedule 3 marijuana. That might still be Schedule 1. Schedule 3 marijuana is available in all 50 states. Who's buying Delta-8 tomorrow if they can get weed?
Speaker 2:Pretty much, who's going?
Speaker 1:to buy THCA flour tomorrow if they can go to a dispensary.
Speaker 2:At a good price.
Speaker 1:At a good price.
Speaker 2:But I think we're getting there. But you have a lot of people still pushing those limits. I got messages on Facebook from people asking me hey, my buddy just got a package of Delta TCA ship in Tennessee. One of our commenters said they have a shop here in Louisiana with a marijuana century and they're all selling that TCA stuff which is cannabis. It's just not. It's weed.
Speaker 1:Yeah, it's all weed, it's weed. It's just that you have a business record that says in somebody's legal opinion it's hemp. Yeah, no judge has ruled on that yet.
Speaker 2:And then we get to testing of like terpenes and cannabinoids and all the other stuff that's just going to be things that make up the plant that you know you're going to be like. Well, this one proves to be sleepy time, or this one proves to be energetic, depending on your body.
Speaker 1:That's why we're going to have the Ganjieh in charge, and so, like the Ganjie in Illinois, we have to have an agent in charge, kind of like a manager, somebody who's like there, and so there's going to be a lot of HR involved, and so then we're going to use the little magic and then also incentivization to work there because you love the plant and you have an enthusiasm with it. We'd have a Ganjie sponsorship at the dispensary, so like we just make one a year. A Ganjie sponsorship at the dispensary, so like we just make one a year.
Speaker 2:Just one, and I hope our staff is going to be knowledgeable and it's going to be a place that they want to be at.
Speaker 1:That's why you want to have the Ganjie in charge Until we have two. That's going to be my title.
Speaker 2:There we go. Do you want to look at the thing that we're talking about?
Speaker 1:Yeah, yeah, this is nuts. But then, like, then we got to get into like we were already looking at this, I think and so, like they, they, he, he's. He's vetoing this one. He supported the last one when it was cool for Republicans to hate on weed he's. But then he vetoed this one because now he wants to not legalize weed. That's how much he hates weed. He hates weed so much he's going to let the hemp industry flourish and say we're still going to regulate you, but make sure you don't legalize it. And so now he's asking for the hemp companies to lobby against Amendment 3 because they want to regulate quality control, labeling, marketing and packaging and retail sales. So he's going to withhold his approval, not sign it, but veto it. 1698. And that was just filed on the 7th, which I believe was Friday, and the hemp community went nuts. It was the best news in hemp for weeks, because they had just been getting their asses smacked but again you're.
Speaker 2:This guy's going against over 60 of his population. Like I hope you're registered to vote. I hope you get out that day. Look out for those shenanigans.
Speaker 1:Check your registration no, the hemp people are just trying to sell you weed that's not been tested. They just want open market weed. They just want it everywhere. They want every state to be Michigan. That's what they want. Well, not even Because, like Michigan, still has licenses well, listen, I mean michigan's canvas.
Speaker 2:People aren't doing too bad if, uh, you know they're number one they are. They don't pay their bills.
Speaker 1:Michigan's got a blacklist. Oh, do they all right? Oh, of course, it's just like california, I mean so like you have what they call price compression. So much so there's so much demand to get into the industry that there's too much product, and so then the only it's called the washout and, and so you have to. You would only be able to be standard oil, and so you have to be a good operator who will lose money for 10 years to drive all your competition out of business, and then you get what they call pricing power and start raising prices.
Speaker 2:I get you, but like I mean, it's like what Amazon right they were? They were sucking for a while, negative for how many years? Correct, but you know, it's like with Amazon, right, they were sucking for a while, negative for many years.
Speaker 1:Correct. That's why we should look at some corporate cannabis right now. This was made by Glasshouse. I have no idea if it was actually made by Glasshouse.
Speaker 2:That's true.
Speaker 1:T-H-C-C-T-H-C-C. There's a strain that you guys can name and if you're watching us from home, you can see it. It's an older strain. It actually won the Cannabis Cup about 13 years ago, back in 2011.
Speaker 2:It's across between.
Speaker 1:G13 and chem dog 91. Oh wow, g13 and chem dog 91. I bet that is a very uh no g kush flavored strain.
Speaker 2:That's the kind of shit that I would get before you even know what names were you're like. Yeah, there's some red hair, just by how it looks. Right, that's the kind of shit that I would get before you even know what names were You're like. Yeah, that's some red hair, just by how it looks, that's how you did it. Yeah, you just knew it was good, weed you just knew it was killer bud.
Speaker 1:That man that's now in his 80s, phil Lesch, would say yeah, that's how you can tell it's good stuff. You will just continue to live until you're an old man and then you don't. Chemdog 91, though Bagseed and a Grateful Dead concert 91. And then G13, I think was from the movie American Beauty. It may have actually been a strain that was researched and then popularized by American Beauty.
Speaker 2:That I'm not sure.
Speaker 1:Barner's Farm Almost sounds like Barney's Farm OG Kush. It does really sound like an OG Kush, but this is the winner of the 2011 High Times Cannabis Cup.
Speaker 2:See, the buds are light green with heavy crystals. Maybe you can see that. Let's try.
Speaker 1:Maybe you can see that. Shout out to Levi's, who was able to pick that one out Nice Liberty, hayes Liberty.
Speaker 2:Hayes, that's a pretty bud.
Speaker 1:That's what you're fighting for and, by the way, you can get that in thca on uh by hemp onlineco. Can you wait? That might actually get me flagged. I'm not allowed to say that. Fortunately we're 43 minutes in. We should be good. Yeah, supposedly, allegedly, supposedly. That's going to be. One of the interesting things is how much can we talk about our dispensary before it's like, hey, how many podcasts are brought to you by Budweiser?
Speaker 2:Well, none. That's the thing about Canvas, though.
Speaker 1:Budweiser sponsors like MLB, nba, nascar. It sponsors shit. That's media, that's out there.
Speaker 2:They actually sponsor the political debate shit too the forum, the little shit that's media that's out there. They actually sponsor the political debate shit too the forum, the little group that's behind that. That kind of weirded me out. I think what we should do is we'll use my channel devoted to, just like that way, if we get flagged and deleted, then we can just do the news out here.
Speaker 1:I still think we can use sponsors. I think we'll think we can use sponsors. I think we'll be able to have sponsors for dispensaries. You just can't say come on out and meet us at the dispensary, because that might literally be against the.
Speaker 2:But, why?
Speaker 1:Why? Because we could be reporting from the Budweiser bleachers at Wrigley Field, and so we named the big. The name of the bleachers was named after a beer company, and that's why schedule three is better for creators. If you are trying to create a cannabis content channel, you need schedule three too. It's it's most important for you. Tell all your vain friends.
Speaker 2:Yeah, you know what you can be written off as a tax write-off for marketing, I mean.
Speaker 1:I don't have to take any of the money that I make and pay taxes on it. How do I write that off? You have more expenses than you have revenue. There you go.
Speaker 2:So Colorado's green market is coming down hard and making other states nervous.
Speaker 1:Speaking of Michigan open market states, and so this is happening at Levi. Just go to the source, googling 2011. Yeah, that's right, you can use Google and name that strain. For me, it's the only way to win. But Colorado's weed market is going bust and other states are taking notice.
Speaker 1:This is one of the reasons why many states, when they have a industry, try to make a regulated oligopic industry of a limited amount of licenses so that the industry can serve the population and have a little bit of cushion for the additional regulatory compliance that they're going to worry about. And then they would have similar to like bidding on public contracts. You would have a profit margin built in. You know, if you're going to be a general contractor, your margin might be 40%. If you're going to be Kroger, it's six. And so when you have an extremely open market state vis-a-vis Colorado or Oklahoma or California open market state vis-a-vis Colorado or Oklahoma or California but California is a weird duck Oregon, michigan, massachusetts you're going to have price depression because there's going to be so much more supply coming online as everybody thinks they're going to make a whole bunch of money, and they are not. Nobody disabuses them of that, they just try to sell them lights and get all their money thrown into the company.
Speaker 2:California or not California? Colorado did suffer a lot of fluctuation of money in the beginning because everybody thought they were going to be like the Mad Men.
Speaker 1:Mad Men was broke, mad Men's bankrupt. Yeah, they're done.
Speaker 2:It's RIP. But that's the kind of money that was involved, right? Because at one point they were ranked like a $500 million company or something. So how do you go from that to nothing blows my mind. But besides the glut of people in the area, look at the article. They're also talking about those hip-derived products that are flooding the market, right, Like all these stuff, that's diluting their customer base, and then legal states have legalized it around them, so they're taking away their. You know the other state.
Speaker 1:Their island money. Right yeah, and so it's one of the things Texas is just selling Delta 8 and THCA they aren't going to Denver no more for their weed. And THCA they aren't going to Denver no more for their weed. They're going to New Mexico or they're just buying it at the weed shop in.
Speaker 2:Texas and calling it hemp. Colorado is so damn hilly and isolated that if you got to know your market it's pretty easy right away. A lot of people just anticipated so much more from the other state. You know the other customers and as that stuff got taken away you know you should have readjusted.
Speaker 1:Yeah, they're going to do that. Hey, let's do some some other crap that we weren't expecting in news this week. So we have some federal news. Federal health officials discussed marijuana research and rescheduling implications, and you know who? No shows, no calls, no shows. By the way, they didn't call and they didn't show up. That's right.
Speaker 1:The DEA did not show up to their own hearing. Now, it wasn't their own hearing, it was the National Center for Complementary and Integrative Health's hearing, an agency that brought together numerous other branches of the federal government. However, a Drug Enforcement Administration official who was scheduled to appear and discuss cannabis policy and regulatory oversight Did not show up for the cannabinoid research that she was supposed to speak at. Well, I'm sorry she unless she is a Craig Craig Hopp was the deputy director of the NCCIH's Division of Extramural Research and they had the recent justice appearance. Oh wait, no, this is this. Is that's not somebody from the DEA, that's somebody from the NCCIH, an agency that the Biden administration just created to make the DEA look bad. Okay, I see it probably actually has like a backstory.
Speaker 2:But again, the DEA's not putting themselves out there for any of this. That's the whole point is, they didn't show up. They didn't testify to their guidance on what they're going to do. In the end, the lab testing's going to be the bottom line. Right now, astm is working on requirements for hemp cannabis. The two are going to merge eventually. The only dividing line is THC, right Still a human consumable product. So you're going to want to test all the pesticides, metals, whatever else you would do molds.
Speaker 1:Man, this is hard talking.
Speaker 1:Yeah, it's all right, you can hit mute and blow your nose because of the allergens in the air. However, somebody from the NIDA, the National Institute of Drug Abuse, showed up and actually made her speech. Jennifer Hoban challenge that scientists continue to face on obtaining marijuana from state markets. And then they have to obtain marijuana from state markets due to current federal rules, so you can't do the research and when you show you don't show up. So the DEA's William Hewitt passed along a message to the attendees that the agency's goal is to support researchers as they navigate this registration process to study Schedule 1 drugs like cannabis. That's great, and so they just give you like one of those answers that is an answer for nothing. Here's some government speak that we got from chat, gpt and and no, I'm not showing up to actually engage in creating new policies yeah, well, again once it gets rescheduled.
Speaker 2:That's the policy that needs to happen right now.
Speaker 1:There's no other rule making process. Yeah, you know who's got a big seat at the table in this rule making process the dea but that bureau, I don't think was.
Speaker 2:You know, this is going to be the rule making process right here once it gets rescheduled this is it.
Speaker 1:Yeah, but the dea doesn't want to do anything. And so now you're seeing the olc do the dea's job, as the dea is going like fuck you. And so then you have joe biden, who could try to fire ann mil, but then he would probably talk to Merrick Garland and say, ok, merrick, fire Ann Milgram and put this person in charge of the DEA, because we need to completely rework. Oh, I am going to run for the administrator chief of the DEA. It's the job that I was born to do.
Speaker 1:I was born to do I'll replace Ann Milgram create a rubric that benefits our company, but then also the country at large, for how you can have an interstate system of licensed cannabis operators, so that you don't need loopholes, you don't have to have all these weird fluctuations in the prices and the availability of the products.
Speaker 2:Have all these weird uh fluctuations in the prices and the availability of the products. I'm curious about the, the background of the, what it takes to be the head drug cop.
Speaker 1:You know like oh it has to be a lot like years of service years, yeah but like you're not a doctor, you're not a you know what's the service arresting people yeah, that's right, law enforcement, where there's you put law enforcement is so funny that it's called um.
Speaker 1:I can't remember the name of the r is, but you just put an r in in in between law and enforcement. I think it's called like the hard r, the soft r. I think it's the soft, hard r, sub bells and then um. And so when you say, oh yeah, law enforcement, and then they put the r into it, you're crap. This person's like third generation. That guy's been arresting people for generations. You have to watch out for them and that's how much service that they have. And so you're telling them to stop arresting people and they're like wait a minute, I've been in law enforcement for a while, we're supposed to continue to arrest them, right?
Speaker 2:And that's the thing, right Like you're going to arrest our way out of the problems, the ills of society, which is not how it's doing. You know, as a matter of fact, you know, the big company you guys had, gti, is trying to merge.
Speaker 1:Oh no, but before that let's just kind of like. I want to restate one thing that law enforcement is getting wrong about cannabis and the rescheduling process, and so the DEA needs to come to the table. Cannabis and the rescheduling process, and so the DEA needs to come to the table. Do you know what percentage of the public comments that have been filed for rescheduling to schedule three are in favor of the rescheduling?
Speaker 2:Oh, it's a huge amount, it's a huge.
Speaker 1:Oh, yeah, yeah. Headset. Their blog from this week reported that an overwhelming public support for it, saying that 97% support it. Our public comment period 97%, 7,000 public comments supported in the first week. The public comment period, of course, is open until July 22nd. Tune in next week for our public comment in an easy way that you can copy and paste and put it in for yourself or extrapolate from, extrapolate from there and and and put your little little spin on it so that maybe they'll, then, by they'll, I mean the DEA, will respond to you, it to your comment as well. But that's, that's. That's overwhelming. Like you know, the people that are commenting really, really want it. But that just probably because, like the people that are commenting, they like it.
Speaker 2:Nobody else cares.
Speaker 1:Like legalizing weed. 7,000 people in a week, that's it. Who wants to legalize weed? 7,000 Americans? How many Americans are we talking about? 331 million, okay. How many ate at McDonald's last week? 11 billion of them, not that many really Just like voting. How many people ate how?
Speaker 2:many Americans ate at.
Speaker 1:McDonald's. I'm asking ChatGPT that I don't care.
Speaker 2:But it's all about the process, who shows up. So you know, hopefully you guys show up.
Speaker 1:Oh, you have to show up. Well, okay, if you show up to vote, yes, you may see legalized medical cannabis in the next four years. If you show up to vote and you vote for the Republicans, no, like you may see a hemp loopholes for another four years and and increased like criminalization of marijuana, which is like like absurd policies. You might just see absurd policies.
Speaker 2:It's going to be a stagnant thing. It's funny you say that about the people on the other side, the Republicans. Did you see? One of the contenders for Trump's VP is from Florida. He's the guy that said that Jim Crow era it was better for blacks back then, and he's black. So this guy, donaldson, he actually got arrested for pot. So this guy, I was like how can you be so? Because right now the Republican Party is not doing anything. There's no moving forward, no legislation process that's helping the general people. This descheduling it, rescheduling it will help, you know, to get to that de-schedule point, but we're not going to get there because those guys just none of them can get together. But the leadership at the top is what matters at the point. You know, when Biden said, hey, I'm directing the you know NHS to look into this, and here we are. You know, directing the NHS to look into this, and here we are, the ball's moving.
Speaker 1:It is. It's moving a little bit. But I also don't like this answer that I got, that 26 and a half million people eat at McDonald's in America every day, every day. I don't buy it, that's too many, it's too many.
Speaker 2:That sounds about right. Have you seen mass farming? It's fucking gross. That's too many. It's too many, that sounds about right. I mean, have you seen mass farming? It's fucking gross. That's why they do that.
Speaker 1:Yeah, I do live in the farms.
Speaker 2:I mean the farms are one thing versus mass farming, when you're putting like a hundred cows in the little small areas just for a little juicy bits, and you're a vegetarian, so I won't bother you more with that.
Speaker 1:Yeah, yeah, it's alright. I don't need to think that there's 70 million people In the world that visit a McDonald's every day. I don't, but can you imagine having a cash register that rings 71 million times in a day? Mcdonald's Corporation can.
Speaker 2:Well, we hope to have that cheeseburger, but it's made out of weed.
Speaker 1:Yeah, it'd be cool.
Speaker 2:Cheeseburger made out of weed.
Speaker 1:Alright, let's do some financial news and this one's fun, okay. Did you know that Green Thumb Industries has gotten pretty much some of the worst press in the state for any of the operators? And then they tried to put in an offer to buy Boston Brewing Company that makes Sam Adams and do a merger. So Green Thumb Industries put down a bill in Illinois that would have allowed our dispensary to be a hybrid dispensary and sell. We can sell to medical patients like not yet, but like if we were open for business we'd be able to make a sale to a medical patient, but they would be taxed as an adult. So there's that aspect of it where the tax make medicine that you can get out the door for 50 bucks costs 75, that's how much?
Speaker 1:tax is on top of it. You know, and that's yeah, you can sell so much and maybe if we really want to have a lot of sales, we should come up with a new tax. You know, lower the cannabis taxes down to about 10 and make it up in volume, as they say. But states don't like. They like a lot of volume of high amounts of taxes. But then they forget that the higher they put their taxes, the more people will just try to avoid the tax. So they're going to go to these other sources and so you have to have. Maybe what we can get them to do is to use the tax money to spend $500,000 to hire a collateral base to do a research paper. Now, granted, I would then turn around and sell that out the back to KPMG to actually do the crunching of the numbers or work with some other data analysts to make the paper. To crunch the numbers. They would show an optimal tax rate for sales and curtailing of the illicit market channels.
Speaker 2:So did this go through the merge?
Speaker 1:No, of course not, of course not. He just came out and said hey, on like a LinkedIn post and stuff, say like I fucking love you, I mean like we have to, and then he like ended it. He ended his letter. Can we get the letter up? He ends it with a Grateful Dead quote, Because there's only one thing you're supposed to do when you're the CEO or involved at all in the cannabis industry, and that's pepper.
Speaker 2:Grateful Dead quotes in everywhere, which is kind of funny. I always thought it was funny. The Grateful Dead was, like you know, appealed to like a lot of hippies, but then to get to a concert was like $500. Back when the shows were around, still Correct, so hippies are like $500.
Speaker 1:I have to Google it because it's not. It doesn't come up in the stuff Industries letter to Boston beer. And I'm just such a like a history degree, original sources, always the original sources I want to see. Well, it's hard sometimes, no, it's impossible, but it's one green thumbs to boston beer, let's talk. And again, it was like a. It was like a a post on social media.
Speaker 1:Okay, I'm still trying to see if I can find because it was like a post on social media. Okay, I'm still trying to see if I can find it, because it was like you can go to LinkedIn. I don't think you have an account, mickey, but it's okay Like LinkedIn. There's only one reason to post on LinkedIn and everybody who's watching on LinkedIn tell me I'm wrong. Like you only post on LinkedIn to brag or to boast your own social cred. That's it, which I consider bragging as well.
Speaker 2:You only put it's a business networking though. I have one, but I use it for my tech side of things. I don't use it for weed, it's just to brag, it's only to brag.
Speaker 1:This is annoying. Trying to find the actual document that I want is Thanks, dude, will they have it? Maybe? Yes, thank goodness, and so like, the thing that they use for the Internet now is Twitter, and so here is Ben Kovler, here's the letter I wrote, or had somebody write for me, and then there it is right. Right, there it's the. Um. Oh good, I can't use twitter. Um, I've been banned, probably because of all those things said about their owners. But, um, you can read it. It says once in a while, if you get shown the light, and the stranger plays. If you look at it right, scarlet begonia is by jerry garcia and robert hunter. That's how he ends after he talks about EBITDA. Good work, grateful Dead.
Speaker 2:Let's go back to that His picture.
Speaker 1:When did they write that? Was it 74,? I guess was it 50?. Yeah, so 50 years ago, 50 years later, you would be used to buy a beer company.
Speaker 2:But failed.
Speaker 1:It hasn't gone through. Mergers usually fail, but then this is new. There has not been enough time. The board is still going like oh we, they're still evaluating it.
Speaker 2:I imagine money's money, if they had enough to buy them out or whatever. Uh, I mean, it's not like elm us who offered 58 million dollars for a thing only worth fucking 15.
Speaker 1:That's dumb yeah, but then, like again, I should have been using that, I should have been used. I should have been tweeting. Um, I think everybody's problem, though, like it gets any modicum of like success and it gets like busy running something is that it's like I don't have time to learn another one of these. I'm already overbooked. Now you want? Me to hire somebody to be on all these other things, okay, but then when you have money, like the Covers, yeah, covelers, you know what they are. They aren't like the Pritzkers, but they're close.
Speaker 1:They're from alcohol.
Speaker 2:I see what you're saying. Hey, did you hear about the North Carolina is going to have a dispensary.
Speaker 1:Oh good, what's that?
Speaker 2:The Cherokee Nation marijuana sells to any North Carolina adult at New Superstore. Here's when to buy some. The Cherokee Tribe Council to any North Carolina adult at new superstore. Here's when to buy some. So the Cherokee Tribe Council, get out of here. On Thursday voted to expand sales of the tribe's new medical marijuana dispensary in North Carolina to adults. Dispensary legal buy in North Carolina until Thursday's vote. So starting August, there we go. That's what I'm looking for. Starting August, you can buy weed out of Riz in North Carolina. So that was one story.
Speaker 1:That's one, but do you know what the Cobblers got into?
Speaker 2:Was it alcohol or pharmacy Bourbon Okay.
Speaker 1:Everett Cobbler Bourbon. Okay, everett Kobler Bourbon. People imported here from Scotch, it may. Mr Kobler died of heart failure On August 23rd in a Chicago home Back in 2003. So why wouldn't they get back into alcohol?
Speaker 2:That's what they know. Well, a lot of times companies too, when they buy something like the we Company probably wants to buy an alcohol company because you know vices, diversification that's it.
Speaker 1:Yeah, that is it. That's it, because that's all the news we have for the week, unless Miggy has more news than he's just holding out on us.
Speaker 2:You know there's a lot more, but I can't breathe. Well, you know, I tried folks.
Speaker 1:Yeah.
Speaker 2:I think you did a fine job.
Speaker 1:Hey, you can find us here next week, and then there's also going to be some more YouTube's dropping. I think that next week will be one for the boys because, like it's Father's Day weekend, so maybe we'll just talk numbers. We can go over some of the stuff that Slobodan and I made up for the dispensary, because you have like.
Speaker 1:you have your offerings for your financing and you have your offerings for your investors, which is interesting because they're different audiences for your investors, which is interesting because they're different audiences. Next week, Father's Day weekend, we'll have some guests that'll be on. Did Beard Bros ever get back to us on that?
Speaker 2:He never replied back. I didn't push it. Initially too, they reached out to us the second time. Now they don't reach out, it'll happen again. They've been doing a lot of event stuff. I saw them in a recent thing, hall of Flowers, all that stuff. They travel, they actually do stuff, whereas they have a budget A budget right.
Speaker 1:Right, I'm about cozy a little corner here. They're selling weed. We're not selling weed, I'm selling, like, cannabis consulting services and the client that win, the ones that win their social equity. And so, like you have to be, you have to be really tight with the belt and it's what they would say. Like you know, it's a it's a low margin industry until you can get into the, because then, like the coblers selling weed, like that guy stopped us from getting a client that is worth three grand a year to that company, and so they want to keep all those clients. They don't want to share them because they're trying to go buy an alcohol company and they're trying to beat on quarterly earnings. But that's, that's what you're getting into.
Speaker 1:So, like I was watching a video yesterday which had a firm, like a law firm that I've dealt with you know. So it's Taft Hoff, slett Hoff, stetler, and so like the taft firm, uh, good old, storied firm starting it in cannabis, but uh, it was called like black waters or something like that, it's all about dupont. And so, like, for for weed people we have, we got beef with dupont. Like we have beef with dupont going way back. If you want, want more Beef with the Pond check out. I believe it is called Dark Waters. It's now on Netflix, but this is a movie about how Teflon just killed West Virginia, just murdered them, and people don't even know because the DuPont company Make sure that you don't know. And that's what you're getting into when you get into business. Business is dirty as fuck and people will sell you poison to keep making money, because they will keep making money and you will have disease and you're weak. And I got cash, good luck.
Speaker 2:Wow, I get it. That's why I'm saying when we get our store opening, and this is going to be exciting next week, we talk about whatever. I mean it's exciting's why I'm saying, when we get our store opening, and this is going to be exciting next week, we talk about whatever. I mean it's exciting. Every time we talk about it because it hasn't happened yet. It's happening slowly, just got to shift gears. When that time comes, to focus on this, is going to be the thing that commitment-wise.
Speaker 1:You will have a salary and a job, but then, like again, we will be talking about your income needs and saying, well, what if you did this for this? Because then you'll also have equity Right. And so then it's like we want to run the company for the better. It's to deliver shareholder value, but that's not the whole point for the company. You're not supposed to be like the pot. You're supposed to take care of certain people before you take care of the cash flows. But sometimes people run it as number one cash, number two the people who own it.
Speaker 2:There's a lot of perverse incentives in owning a company.
Speaker 1:there's a lot of perverse incentives in owning a company.
Speaker 2:As someone who's worked retail to the point to where I know that's not what I want to be. It'll be fun to be on the other side of things now and seeing how that works, as opposed to being the shopkeeper. But hey, thanks for joining us. It's been a long ramble now.
Speaker 1:See you next week. Week, everybody, have a good one.
