Welcome to Senior Cannabis Digest. This week we look at a cannabis company that actually posted a dividend, dogs and cannabis poisoning, choosing a gummy as a sleep aid and more. Enjoy.
Investor News and Notes
There may be promising news for investors looking to mine opportunities in the cannabis sector. A Missouri-based multistate operator is believed to be the first big U.S. marijuana company to issue a dividend to investors.
That’s the word from Kate Robertson, reporting for MJBizDaily. According to Robertson, Greenlight Dispensary, a privately held company, issued a dividend in April that makes up a little more than four percent of the capital invested in the company and totals seven figures. So says John Mueller, the company’s co-founder and chief executive officer.
While he was not forthcoming about the total value of the dividend and characterized it as a “special dividend,” he did indicate that he hopes in the future dividends will be issued quarterly.
Said Mueller, “We’re trying to standardize the cannabis industry and show that we can issue and return capital to our shareholders just like any other industry.” He added that the company brought in $250 million in revenue and turned a profit last year.
Headquartered in Kansas City, Greenlight currently operates 27 cannabis stores in Arkansas, Illinois, Missouri, South Dakota and West Virginia and hopes to expand to 40 locations in 2023.
Robertson notes that part of what makes Greenlight unique is that unlike many of its competitors across the industry, the company is debt free. Because the company is funded largely through cash flow and operations it requires minimal capital.
Said Mueller, “(That’s) different from all of our peers that are kind of our size. So we don’t need to worry about paying down (debt in the) high teens or mid-teens interest rates, and we don’t have those handcuffs on from lenders, allowing us to give back to our shareholders.”
In her article, Robertson makes the point that while some cannabis companies are cash-flow positive and could, in theory, issue dividends, given the high cost of capital that much of the cannabis industry is saddled with, companies with excess cash flow are more likely to apply it toward debt retirement and growth opportunities.
So, while Greenlight Dispensary’s dividend is, at the moment, a bit of an outlier, it does give investors cause for hope that the sector will at some point, in the words of Mueller, become more standardized and, “return capital to our shareholders just like any other industry.”
Greenlight’s business model may also offer investors something of a guide when it comes to targeting cannabis companies for long-term investment.
You can learn much more by reading Kate Robertson’s insightful and detailed article in the May 3, 2023 issue of MJBizDaily.com.
mjbizdaily.com/greenlight-dividend-an-apparent-first-for-the-marijuana-industry/?
Cannabis and Pets
Dog owners in places where recreational cannabis is legal need to be alert when walking their canine companion. Increasingly, there are reports that one of the unintended consequences of legalization is that humans are discarding unfinished joints and edibles in public areas and dogs are consuming them.
So says Bobby Caina Calvan, reporting for APNews. According to Calvan, a growing number of veterinarians are reporting that the number of marijuana poisonings, which were once rare among pets, and are almost never fatal, has increased.
Dr. Amy Attas, a New York City veterinarian, told Calvan, “The reason we’re seeing so many cases is that people are using marijuana on the street and then discarding the unwanted ends of their joints. And that’s a real problem because dogs will eat those.”
Attas added that in the first three months of the year, she had already seen six cases, which is about the same number she’s treated over the past three decades.
The American Society for the Prevention of Cruelty to Animals has also noted that cases are on the rise nationwide. According to the organization, in 2022 there was an 11 percent increase from the roughly 6,200 cases reported in 2021.
According to Gemma Johnstone, who reported on the trend for the American Kennel Club, (AKC), symptoms of cannabis poisoning in a dog— which are typically visible within 30 minutes to an hour after ingesting the drug—can include stumbling and crossing over feet, being dull and lethargic, dilated pupils, urinary incontinence, vomiting, tremors and shaking and agitation.
She noted that Dr. Stacy Meola, a criticalist at Wheat Ridge Animal Hospital in Colorado, reported that the most common sign of cannabis intoxication in a canine is stumbling and crossing over their feet, and “walking like they are drunk.”
Johnstone reported that treatment will vary depending on the severity of the symptoms presented. Some dogs can be treated as outpatients at home, while others may require hospitalization so they can receive intravenous fluids and supportive care. With proper treatment, dogs will usually recover fully within one to two days.
Dr. Meola added, “In severely affected animals, we recommend a treatment called intralipid therapy, which is an infusion of lipid (the fat used in IV nutrition support) to help bind the marijuana and allow it to be eliminated from the body faster.”
As with most things, it does sound like prevention is the wisest course for dogs and their owners, making sure Fluffy or Spike isn’t eating anything he or she is not supposed to and keeping an eye out for discarded joints.
While we don’t doubt that this is a real and serious issue for pet owners and their animals, we are shocked that one of the social side effects of recreational legalization is that folks have so much cannabis they can afford to throw out a perfectly good “roach” in a public place.
In the words of Cicero, “O tempora, o mores.”
To learn more we suggest reading the article by Bobby Caina Calvan in the May 2, 2023 issue of APNews.com.
apnews.com/article/marijuana-poisoning-dogs-95af84071acce3a08edf50c7d1fe19f8
We also urge you to read Gemma Johnstone’s article in the April 10, 2023 issue of AKC.org.
www.akc.org/expert-advice/health/marijuana-poisoning-in-dogs/
Cannabis Gummies and Sleep
If you are thinking of trying gummies that contain THC, CBD or CBN in combination with melatonin as a sleep aid, you’re in luck.
Jessica Reilly, writing for The Cannigma, offers the following tips on how to select quality gummies that can be used as a sleep aid.
• Read the ingredients. There are a lot of ingredients that could be used in your gummies, but you may not want all of them. Artificial dyes, flavorings, fillers, and high fructose corn syrup are more common in lower-budget gummies. If the integrity of ingredients is important to you, always do your due diligence. There are many edibles on the market with a short list of ingredients, that only use vegan or organic ingredients, and meet rigorous quality standards.
• Check the COA. Always look for the certificate of analysis. The COA is the lab results from the testing for each batch of gummies. It helps you to ensure that each gummy contains the cannabinoids on the label. The COA should also confirm that the product doesn’t contain heavy metals, microorganisms, or pesticides.
• Read the review. Feedback from actual consumers on a website or social media platform can provide you with valuable information on the experience different people have had with a particular product.
Here are a few of her favorites:
• Pantry’s Nite Bites are bite-sized treats made with a blend of wellness-promoting ingredients such as adaptogenic roots, herbs, and mushrooms, along with a 1:1 THC:CBN ratio (5 milligrams of each per piece) to offer subtle sedation and holistic relief. $25 for a bottle of 20.
• Budpop CBD + CBN Gummies for Sleep These chewy, blueberry-flavored cubes contain 25 mg of CBD, 10 mg of CBN and 3 mg of melatonin per cube. A bottle of 30 costs $59.95.
budpop.com/product/cbd-cbn-sleep-gummies/
• Kiva’s Camino 5:1 CBN Midnight Blueberry ‘Sleep’ Gummies These gummies feature a calming combination of 5 MG of THC, 1 MG of CBN, relaxing terpenes and chamomile and lavender extracts designed to promote restful sleep. $19.99 for a bottle of 20.
shop.kivaconfections.com/product/camino-midnight-blueberry-sleep-cbn-gummies
To learn more we suggest you read the article by Jessica Reilly that appeared in the February 20, 2023 issue of The Cannigma.com.
cannigma.com/picks/best-cannabis-and-cbd-gummies-for-sleep/?
Stats of the Week
This week’s magic number is actually a fraction—one-third. According to a recent survey conducted by Stockton University, about one-third of New Jersey adults have used cannabis products since the state’s adult-use legalization reforms took effect about a year ago.
That’s the word from TG Branfalt reporting for Ganjapreneur. Branfalt says the survey of 660 New Jersey residents also found that nearly half – 47 percent – of those who consumed cannabis did so for recreational purposes, 14 percent purely for medical reasons, and 39 percent for both medical and recreational purposes.
The poll also revealed that the vast majority of those who said they consumed cannabis—69 percent—purchased it at a licensed dispensary and 86 percent of those were either satisfied or very satisfied with the experience.
In addition, according to Branfalt, the survey results showed that forty-three percent of those polled said they were satisfied because they knew the products were safe and 23 percent approved of the quality.
Unfortunately, not everyone approved of the cost—just seven percent said they were satisfied with the price of the products they purchased at a dispensary.
As for the 30 percent who said they purchased cannabis from an “unregulated source,” the main reason these respondents cited for buying cannabis illegally was the lack of a legal dispensary nearby.
In a related matter, it looks like the one-third of New Jersey residents who have used cannabis since it became legal there may have included some members of law enforcement.
According to Kyle Jaeger, reporting for Marijuana Moment, four New Jersey police officers are preparing to sue the city of Jersey City after being fired for testing positive for marijuana—despite being protected under the state’s cannabis legalization law and guidance from the state attorney general.
Jaeger points out that the Jersey City officers said that they used cannabis, which was purchased from licensed dispensaries, while off the job—an activity that should be legally protected, as the state Constitution prohibits employers from taking adverse action against workers solely for marijuana activity.
The officers are citing a memo New Jersey Attorney General Matthew Platkin (D) issued last year clarifying that state law prohibits law enforcement agencies from penalizing police who use marijuana in compliance with state law when they are “off the clock.”
Jersey City is taking the position that since the officers are required to buy their own guns, they’re individually subjected to federal rules that ban people who use cannabis from purchasing firearms.
More news as more news develops.
To learn more about the survey on cannabis use in New Jersey, we suggest reading the article by TG Branfalt in the April 27, 2023 issue of Ganjapreneur.com.
www.ganjapreneur.com/poll-one-third-of-new-jersey-adults-have-used-cannabis-post-legalization/?
To learn more about the lawsuit brought by the four Jersey City police officers, you can read Kyle Jaeger’s reporting in April 24, 2023 issue of Marijuana Moment.net.
www.marijuanamoment.net/new-jersey-police-officers-plan-to-sue-after-being-fired-over-marijuana/
Medical Cannabis Spotlight
There may be hopeful news for those seeking relief from a number of the symptoms associated with Parkinson’s Disease.
According to the Mayo Clinic, Parkinson’s Disease is a progressive disorder that affects the nervous system and the parts of the body controlled by the nerves. Symptoms start slowly. The first symptom may be a barely noticeable tremor in just one hand. Tremors are common, but the disorder may also cause stiffness or slowing of movement.
Researchers affiliated with University at Buffalo School of Pharmacy and Pharmaceutical Sciences and DENT Neurologic Institute recently explored the impact of medical cannabis on the symptomatic treatment of patients with Parkinson’s Disease.
Conducting what was described as a retrospective chart review, the team collected data on 69 patients with Parknison’s Disease who were also treated with medical cannabis. The information collected included the type of medical cannabis administered (THC and CBD in a 1 to1 ratio), changes in symptoms after treatment with medical cannabis and adverse events from the cannabis use. Information regarding changes in concomitant medications after medical cannabis treatment was initiated, including opioids, benzodiazepines, muscle relaxants, and Parkinson’s Disease medications, was also collected.
The research team found that 60 out of the 69 patients exhibited improvement in symptoms associated with Parkinson’s Disease after starting treatment with medical cannabis. They reported that the symptoms with the highest incidence of improvement included cramping/dystonia, pain, spasticity, lack of appetite, dyskinesia, and tremor.
The researchers also found that 56 percent of the opioid users in the group were able to decrease or discontinue opioid use after treatment with medical cannabis. In addition, there were only four adverse events associated with the use of medical cannabis.
For a more detailed description of the study, you can read the article that appeared in the April 19, 2023 issue of the journal Clinical Neuropharmacology. Simply click on the link that follows.
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
