Welcome to Senior Cannabis Digest. This week we look at a new way to protect pets that ingest cannabis, an innovative way to serve medical cannabis patients, an analysis of consumer loyalty and more. Enjoy.
News for Pet Owners
Mature consumers who own pets may want to check out a new product that’s said to be a first-aid treatment for pets that accidentally overdose on cannabis and other drugs.
In the vast majority of cases humans do not have a toxic response to cannabis. However, cannabis can be toxic when consumed by dogs—and in some cases—when consumed by cats and other pets as well.
The new product, called ReadyRESCUE, is designed to be given to pets that have ingested THC, chocolate or other medications, such as Tylenol, that are safe for human consumption but can be toxic when ingested by dogs or cats.
According to Kait Hanson, who reported on the product for The Daily Beast, ReadyRESCUE consists of activated carbon spheres that can be mixed with another ingredient, such as peanut butter, which is then given to the pet that has ingested the toxins.
The charcoal is said to absorb the toxins, binding harmful ingredients to the spheres instead of your pet’s bloodstream. The toxins and the spheres are then safely eliminated in a cat’s or dog’s feces without causing damage to internal organs or the gastrointestinal tract.
Hanson notes that administering charcoal to pets who have ingested a toxin isn’t a new thing. In fact, activated charcoal is a common protocol used in pet hospitals. However, ReadyRESCUE is believed to be the first-of-its kind tool created for home use.
It is made by a brand called Dr. Cuddles. Company founder Mat Glassman is a board-certified veterinary surgeon in Washington, D.C. who spent three years developing the product.
Glassman told The Daily Beast, “I know that it will save lives and make veterinarians’ jobs easier. It’s meant to be administered when we have the window to be most effective—at home as soon as a toxin ingestion is suspected.”
Glassman did acknowledge that there are some toxins ReadyRESCUE will not be effective against, including xylitol, which is a sweetener found in products such as gum and ethylene glycol which is found in antifreeze.
To learn more, we suggest reading the article by Kait Hanson that appeared in the February 18, 2024 issue of The Daily Beast.com. While the publication is paywall protected, it is possible to register for limited access, free of charge.
www.thedailybeast.com/how-readyrescue-can-save-your-pet-from-accidental-overdoses?ref=home?ref=home
To visit the company’s website, simply click on the link below.
drcuddles.com/products/readyrescue
Cannabis Corner
If two state legislators from Minnesota are correct, legalization of recreational cannabis would turn “The Land of 10,000 Lakes” into a cold, dark apocalyptic landscape, all because of grow lights.
That’s the word from Ben Adlin, reporting for Marijuana Moment, who says the state lawmakers claim that home cultivation of cannabis, which is legal under the state law enacted in 2023, could put an overwhelming strain on the state’s electrical grid which would lead to a state-wide power failure.
Minnesotans 21 years of age and older are able to grow up to eight cannabis plants per residence, with no more than four being mature and flowering at the same time. Plants may be grown indoors or outdoors, but they must be kept in an enclosed, locked space that is not open to public view.
Speaking at an Americans for Prosperity event, Rep. Paul Novotny (R) said “Now, I hope most of you are not familiar with the marijuana grow operation, but I will tell you that it takes a ton of electricity.”
State Senator Eric Lucero (R) added, “Get ready for blackouts and brownouts. That’s what’s going to happen.” Lucero also called cultivation under the law “unsustainable.”
To be fair, in addition to grow lights, indoor cultivation can also require various temperature and humidity controls, which also consume electricity.
However, there has yet to be an example of home cultivation crashing a power grid in a state where growing your own cannabis is legal.
Adlin noted in his article that Republican concerns about cannabis reform go beyond energy issues. For example, last year Sen. John Jasinski (R) spoke out against legalization, saying it would lead to early retirement for drug-sniffing dogs.
Minnesota has yet to fully implement its adult use laws. For instance, the state is still trying to figure out how to begin retail sales, although there is hope that sales will begin this summer, provided the power grid remains intact.
You can learn more by reading Ben Adlin’s article in the February 16, 2024 issue of Marijuana Moment.net.
The Shape of Things to Come
A decision by the New Jersey Cannabis Regulatory Commission will mean reduced fees and more convenience for medical cannabis patients. It might also set a new direction for other states as well.
According to Joseph Billions, reporting for Cannabis.net, the New Jersey Cannabis Regulatory Commission (NJ-CRC) declared last week that the process for signing up or renewing medical marijuana cards will now be free of charge and the cards will be digital. The new digital cards are set to be introduced in the coming weeks.
Billions noted that these new digital cards are designed to be easily accessed on mobile devices, which, the Commission believes, will help to eliminate concerns about losing or damaging physical cards while improving overall accessibility for patients.
In his article, Billions also contends that new steps were implemented, at least in part, to encourage more citizens to join the state’s medical cannabis program.
For many, the advantage of participating in the medical marijuana program is the ability to avoid taxes imposed on recreational cannabis products.
For example, in New Jersey, recreational cannabis items are subject to a standard 6.625 percent sales tax, in addition to the Social Equity Excise Fee, which fluctuates based on the average price of cannabis. As of January 1, 2024, this fee was adjusted to $1.24 per ounce. Moreover, municipalities have the authority to impose a 2 percent transfer fee on cannabis transactions conducted within their jurisdiction.
These taxes do not apply when consumers are medical cannabis patients.
To learn much more, particularly about the state of the medical cannabis program in New Jersey, we urge you to read the article by Joseph Billions in the February 19, 2024 issue of Cannabis.net.blog.
Consumer Spotlight
Familiarity and a knowledgeable staff are just two of the things that can keep consumers shopping at a particular dispensary. However, that doesn’t mean cannabis consumers aren’t open to exploring their options.
According to survey findings contained in Cannabis Consumers in America 2023 – Part 1: An Overview of Consumers Today, an analysis of cannabis consumer behavior by the folks at New Frontier Data, here are four factors that motivate consumers to try a new dispensary.
• 54 percent said they would switch to another dispensary to take advantage of a particular promotion.
• 44 percent said they would shop at a different store if the location was more convenient.
• 35 percent said they would explore a different dispensary out of curiosity.
• 33 percent said they would take their business to a different store if a specific strain or product was not available where they usually shop.
The analysts at New Frontier Data believe their findings underscore the importance of using both exceptional customer service and attractive deals and promotions to maintain and enhance customer loyalty.
To learn more, we suggest reading the article “Switching Loyalties.” It was published in the February 20, 2024 issue of Cannabits, a publication of New Frontier Data.
https://newfrontierdata.com/category/cannabit/
For a more detailed analysis of U.S. cannabis consumers in general, you can read their publications Cannabis Consumers in America 2023 – Part 1: An Overview of Consumers Today, and Cannabis Consumers in America 2023 – Part 2: Exploring the Archetypes.
Cannabis and Taxes
Mature consumers who are looking for a good deal on a bong may want to contact the California Department of Tax and Fee Administration or the California Highway Patrol.
That’s because these two staid divisions of government recently auctioned off personal property from unlicensed and tax-delinquent cannabis dispensaries. This represents a new strategy in California’s efforts to regulate the cannabis industry and recover unpaid taxes.
So says Graham Abbot, writing for Ganjapreneur. According to Abbott, the auctions seized included items such as glass bongs and pipes, furniture, and electronics typical to modern dispensaries. The items were grouped into lots and if potential purchasers were interested in a specific item, they were required to bid on the entire lot.
In his article, Abbott noted that the items were initially seized while executing search warrants against multiple Los Angeles-based cannabis dispensaries. Of the ten retailers raided, only one was actually licensed by the state, and together, the businesses reportedly owed more than $14.4 million in unpaid taxes.
In a related article, Nick Maduros, Director of the California Department of Tax and Fee Administration, told the Los Angeles Times, “Seizing and auctioning property from cannabis businesses that evade the law is a tool to recover the taxes owed to the state.”
The property seizures marked California’s latest effort to curb unregulated cannabis operators.
If you care to learn more, we urge you to read Graham Abbott’s excellent reporting in the February 20, 2024 issue of Ganjapreneur.com.
www.ganjapreneur.com/california-officials-selling-seized-bongs-to-cover-unpaid-cannabis-taxes/?
Stats of the Week
This week’s magic number is $1.13 billion. That’s the amount that was spent on adult use cannabis in Missouri in that state’s first year of recreational sales.
When you add in another $280 million in medical marijuana transactions that pushes the total to a rather robust $1.4 billion in cannabis sales in 2023, according to the state’s Department of Health and Senior Services.
When it comes to recreational cannabis, these and other figures seem to indicate that everything really is up to date in Kansas City, at least the one in Missouri.
For example, according to Ben Adlin, reporting for Marijuana Moment, Missouri’s first year of legal sales was markedly stronger than the state of New York’s first year, which has seen a slow opening to its adult-use market, posting roughly $150 million during its first year of legal sales.
Missouri’s total sales during its first year was also higher per capita than legal sales in Illinois during 2023—a state with a significantly more mature cannabis market. Illinois, which is home to about twice as many people as Missouri, posted about $1.6 billion in adult-use sales last year.
It’s expected these sales figures will translate to a tax windfall for the Missouri Veterans Commission, which has already received $19 million from tax revenue related to medical marijuana sales and expects to receive as much as $22 million next year—and that’s from medical marijuana sales alone.
Said Andrew Mullins, executive director of the trade association MoCannTrade, “When Missourians voted for marijuana legalization, the Missouri cannabis industry was fully committed to a smooth transition and to bringing economic benefits across the state. But never in our wildest dreams did we anticipate the level of excitement and support we’ve received over the past 12 months. This will not only go down as one of the finest criminal justice reforms in our state’s history, but Missouri’s newest billion-dollar industry will also strengthen our economies and communities for years to come.”
This cannabis thing—it might have a future after all.
To learn more, we suggest reading Ben Adlin’s article in the February 19, 2024 issue of Marijuana Moment.net.
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347528-8753.
