MEDICINE MAN TECHNOLOGY NEWS

Southwest Cannabis Conference Brings “The World of Tomorrow” to the Phoenix Convention Center

Doug Ducey received free tickets to the second annual Southwest Cannabis Conference, but event organizer Demitri Downing isn’t holding his breath for the Arizona governor to attend. Downing says he also sent complimentary passes to Attorney General Mark Brnovich and Secretary of State Michele Reagan, but they wouldn’t be shocking no-shows either. All three oppose Proposition 205, the initiative on November’s general-election ballot that allows voters to decide to whether to legalize and regulate marijuana for recreational use in Arizona.

“This is a giant educational summit for Prop 205,” Downing says of the conference. “There are so many aspects to the marijuana discussion. If people want an overview, that’s what this is for.”

The theme for this year’s conference is “The World of Tomorrow.” Speakers include doctors, lawyers, legislators, investors, consumers, and business owners who will focus on topics like job creation, economic development, the future of Arizona’s medical-marijuana program, and different models for regulating personal use.

Says Downing: “We all see a giant shift in policy coming.”

Sponsored by Vapen Clear, Weedmaps, and New Times, the conference kicks off Friday, October 14, at the Phoenix Convention Center with a Cannabis Boot Camp presented by Medicine Man Technologies that will teach attendees about cultivation, dispensary laws and licensing, marketing, making marijuana edibles, and more.

“It’s like going to college,” Downing says. “Like going to business school.”

More than 300 exhibitors will fill the hall, and more than 60 guest speakers from the industry are slated to speak, including include former NFL defensive end Marvin Washington, pain-management specialist Dr. David Tonkin, AZ NORML director Mikel Weisser, and cannabis chef Payton Curry.

Washington will participate in a panel on cannabis-derived alternatives to prescription painkillers.

“A lot of athletes are using CBD [cannabidiol, one of the least psychoactive chemical compounds in cannabis] for pain management instead of Percocet and Vicodin,” Washington explains. “I’m not saying [opioids] don’t work — they do work — but the side effects are too numerous to name, and if you’re on that opiate prescription routine for 10 to 12 years, once your NFL career is over it’s kind of hard to stop.”

Tonkin, a Springfield, Missouri-based physician, will speak on the pain-management panel as well. “We’ve done studies in our clinics and given CBD to patients, and their opioid consumption has gone down by 30 to 60 percent,” Tonkin says. “That’s great for the patient, so you don’t have to write [prescriptions] for so many narcotics. The risk of overdose or addiction goes down quite a bit.”

Downing says last year’s conference drew about 6,000 attendees; this year, he expects up to 8,000 visitors, perhaps including a smattering of state legislators, whom Downing says are all invited. “A number of Democratic legislators have expressed that they’re attending,” he says.

“Regardless of whether politicians agree or not, there is going to be access [to cannabis],” Downing adds. “Once it’s transparent, accountable, taxed, and regulated, then people can begin to talk about it.”

The Southwest Cannabis Conference & Exhibition takes place October 14-16 at the Phoenix Convention Center, 100 North Third Street. Tickets cost $99 per person for Friday’s Cannabis Boot Camp; a one-day pass for Saturday or Sunday costs $50; two-day passes are $75. Visit swccexpo2016.com for more information.

Pheonix News Times, Niki D’Andrea
October 13 2016


The Marijuana Business Takes Root in PA

Jul 7, 2016, 1:49pm EDT

On a recent Philadelphia weekend that featured a Beyoncé concert, a professional bike race, and Wizard World Comic Con, Jessica Pontenot spent a good part of her Saturday seated in the second row of a Center city hotel conference room learning about Pennsylvania’s medical marijuana program.

“I came here for multiple reasons,” said the 31-year old Southwest Philadelphia tattoo artist, who works part time for UPS. “I want to find out how to get a [medical marijuana] card for my mom,” who has several of the conditions on the state’s list of 17 approved serious medical conditions for medical marijuana. “I always told my mom [marijuana] could help her, but she never believed me. Now she does.”

Jessica Pontenot listens to a medical marijuana presentation by U.S. Cannabis… more

JOHN GEORGE

Pontenot is also interested in getting involved in the dispensary part of the business.

Pennsylvania’s new medical marijuana program is expected to generate thousands of new jobs and millions of dollars in taxable revenues.

Some of the new jobs will be for budding entrepreneurs interested in becoming growers/processors and dispensary operators. Those business operators will need to fill a long list of jobs that includes budtenders, trimmers, lab technicians, operation managers, retail managers, bookkeepers and security guards.

While the upfront costs to entrepreneurs wanting to enter the market are expected to run into the millions of dollars, the payoff could be substantial. The ArcView Group, a market research firm that studies the cannabis industry, estimates the Pennsylvania medical marijuana market will start out with annual sales at about $125 million and grow at a rate of about 180 percent per year in the program’s first few years.

“There will also be huge opportunities for entrepreneurs who want to create ancillary businesses that are integral to the core growing and dispensing businesses,” said Seth Goldberg, a Philadelphia attorney with Duane Morris who specializes in commercial and health care matters.

The legalization of medical marijuana is expected to create business opportunities for people involved in transportation, accounting, legal services, information technology, lab services, pharmaceutical packaging, engineering, architecture, construction, and security.

Last month’s day-long seminar, hosted by U.S. Cannabis Pharmaceutical Research and Development, attracted Pontenot and more than 125 other people of all wages willing to pay the $350 entry fee to learn about the medical marijuana business. Seated two chairs away from Pontenot was a 37-year-old telecommunications salesman from South Jersey, who identified himself only as Terence. Terence said he wants to be a grower and breeder. “I had a friend show me the way and I fell in love with [growing marijuana],” he said. “I’m here to network and talk to people.”

Michael Patterson, CEO of Florida-based U.S. Cannabis, said he believes the medical marijuana business will be a billion-dollar business in three to five years.

He praised Pennsylvania’s law for the way it provides clear patient access, public safety and commerce opportunities.

“We call them the three pillars of a successful program,” Patterson said. “We think Pennsylvania’s law will be a model for other states.”

Hefty cash requirements

Patterson said his advice for people wanting to get into the medical marijuana business is to put together strong teams of people with diverse backgrounds and skill sets. He also suggested applicants should spend a lot of time thinking about a provision in the law that will require people to state in their application how their operation will better society.

Robert Calkin, president of the Cannibas Career Institute in Los Angeles, provides classroom training to people wanting to get involved in medical marijuana programs. He too put the formation of a strong team at the top of his “to-do” list for people applying to be growers/processors or dispensary operators.

“Nobody can do everything themselves,” Calkin said. “Different people have different areas of expertise. You have multiple resources in this industry — you have to have backups to your backups.”

Calkin said meeting all of a state’s regulations can be a daunting process.

“It can take up to 500 hours to develop a business plan,” he said. “Maryland had 170 questions on their application. People will have to answer a lot of questions they might not anticipate, such as questions about security and preventing diversion.”

Kevin Kravcak owns a Bucks County real estate brokerage firm. He has put together a team of business partners that is exploring getting involved in the medical marijuana industry.

“What attracted me is the business opportunity,” Kravcak, 41, said. He recently attended a Cannabis Career Institute seminar in Philadelphia. “This [new law] has been a long time coming.”

Kravack said his team is leaning toward establishing a dispensary operation.

“Right now everything is so preliminary with the Health Department still developing regulations,” he said. “Pennsylvania’s program is still in its infancy, so it’s hard to zero in on what all the opportunities will be. We are doing a lot of networking and lot of research online.”

Patterson noted Pennsylvania’s law does not contain any stipulation that a certain percentage of permits go to companies owned by minorities, women or disabled veterans. It does, Patterson said, include a clause that gives applicants additional points for including such groups in the subcontractors with whom they plan to do business.

NIMBY Challenge

Another challenge for entrepreneurs, he said, will be deciding where to set up their businesses. He said some municipalities will welcome growers and dispensers because of the business tax revenues they will generate, while others will have a “not in my back yard” attitude that will be tough to overcome.

“There’s a lot of strategy to this,” he said.

Goldberg said those wishing to get involved in the medical marijuana process will also have to be willing to assume some risk.

“It’s a capital-intensive process with some unknowns,” Goldberg said. “You have to get into the process now before the regulations have been provided, and without knowing if you are going to get a license.”

Brett Roper, founder and COO of Denver-based Medicine Man Technologies, a consulting and advisory services company in the cannabis industry, agreed the medical marijuana business is not the place for those looking to get rich quick.

“People looking to get into the space need to recognize this is not just a ‘cash out your 401(k)’ or ‘max out your credit card’ type of opportunity,” Roper said. “We are estimating in Pennsylvania you’ll need $6 million to $10 million is you want to go for a producer license.… This is not for the faint-hearted.”

The dollar range is based on whether the entrepreneur intends to lease or own the land for his or her business.

Roper’s other advice includes having a compelling story that separates a person from competing applicants, putting together a team that includes consultants who have worked in the medical marijuana industry in other states, hiring a professional writer to prepare an application and making connections with local people who can “champion” a proposal through the regulatory review process.

Gretchen McCarthy, director of dispensary operations at Compassionate Sciences ATC in Bellmawr, N.J., said her advice to people wanting to establish a dispensary in Pennsylvania is to “be sure you are well-funded to endure the unknowns that come with operating in a new industry that is not fully understood by the regulatory bodies, doctors, and patients.” McCarthy also said to “make sure the advice you are receiving from industry experts is tried and true.”

Compassionate Sciences is not planning to expand into Pennsylvania, she said, because the organization was formed as a nonprofit limited to operations in New Jersey.

The wait for implementation

The Pennsylvania Department of Health expects the medical marijuana program will take between 18 and 24 months to implement from the date the law authorizing it took effect on May 17.

Robert Rudnitsky, executive director of the marijuana advocacy organization Philly Norml, said the Health Department has many questions as it develops the rules and regulations for the medical marijuana program. Among the issues causing questions and concerns are:

R Who and what will govern the decision-making process for determining a qualified applicant?

R What exactly are growers and processors?

R What are the startup and final costs that will be incurred by companies selected to participate in the program?

Health Department Requirements

Health Department Secretary Karen Murphy said last month that the state has started working on temporary regulations for the program and will be seeking input from the public, stakeholders, and partners. “We are also committed to being transparent and communicating effectively throughout the process,” Murphy said. The first temporary regulation will be for growers/processors so that those entities can come online and begin to make products available.

The department intends to issue the remainder of the temporary regulations, sequentially, for dispensaries, physicians, patients and caregivers, and laboratories and anticipates this being completed by the end of the year. The temporary regulations will explain the medical marijuana program’s operation, including how applications will be submitted.

The Health Department plans to issue permits, initially, for up to 25 growers/processors and up to 50 dispensaries. Each dispensary can operate no more than three locations. No more than five grower/processors can be issued a dispensary permit. The regulations require:

R A $10,000 initial fee for grower/processors, who will also need to pay $200,000 for a permit fee and provide proof of $2 million in capital — $500,000 of which has to be on deposit in a financial institution.

R A $5,000 initial fee for dispensary operators, who will also need to pay a $30,000 permit fee and provide proof of $150,000 in capital.

R Both grower/processors and dispensary operators will be required to complete a two-hour training course. Both are also required to undergo federal and state background checks and submit a permit application that includes a description of the business and their ability to “maintain effective security and control to prevent diversion, abuse or other illegal conduct.”

R Physicians who want to participate in the program must apply to be registered, demonstrate their training and expertise in treating serious medical conditions, and successfully complete a required four-hour course — which will include the risks and benefits of using medical marijuana — established by the department.

“Businesses need to put their ducks in a row now so they can hit the ground running,” said Goldberg, the Duane Morris lawyer. “If you are a processor you’ll need to acquire technology and space for processing. If you are a dispenser you’ll have to mine for retail locations.”

Goldberg suggested people go online to look at what other states required on the assumption Pennsylvania will model its applications on those in states where medical marijuana is already available.

Both Patterson and Calkin said because of the complexity of developing regulations and likelihood of legal challenges, particularly by people who fail to secure licenses, people should expect the actual start of the program to take longer than the 18 to 24 months projected by the state.

“People think two years is a long time to wait,” Patterson said. “For a new industry, it’s not a long time.”


A CLOSER LOOK

Five things you may not know about Pennsylvania’s medical marijuana law

1. What exactly is medical marijuana?

The term medical marijuana refers to using the whole unprocessed marijuana plant or its basic extracts to treat a disease or symptom. The marijuana plant contains chemicals that may help treat a range of illnesses or symptoms.

2. Who will be able to use medical marijuana

Patients with serious medical conditions will be able to access medical marijuana with a physician’s certification at designated state dispensaries. The law mandates that marijuana may only be dispensed to a patient or caregiver as a pill, oil, topical formulation (such as a gel, cream or ointment), liquid or a form medically appropriate for administration by vaporization or nebulization. Dry leaf or plant forms of marijuana are excluded, the law states, until they become acceptable under regulations recommended by the state’s Medical Marijuana Advisory Board.

3. What are the serious medical conditions?

A serious medical condition is any one of the following listed under the statute: amyotrophic lateral sclerosis, autism, cancer, Crohn’s disease, damage to the nervous tissue of the spinal cord with objective neurological indication of intractable spasticity, epilepsy, glaucoma, HIV/AIDS, Huntington’s disease, inflammatory bowel syndrome, intractable seizures, multiple sclerosis, neuropathies, Parkinson’s disease, post-traumatic stress disorder, severe chronic or intractable pain of neuropathic origin or severe chronic or intractable pain in which conventional therapeutic intervention and opiate therapy is contraindicated or ineffective, and sickle cell anemia.

4. Who will oversee the program?

The new law creates a 15-member Medical Marijuana Advisory Board within the Pennsylvania Department of Health. Members will include the Secretary of Health; the Physician General; State Police Commissioner; chairman of the State Board of Pharmacy; commissioner of Professional & Occupational Affairs; president of the Pennsylvania Chiefs of Police Association; president of the Pennsylvania District Attorneys Association; members to be appointed by the governor and six appointees from the legislative caucuses who are knowledgeable and experienced in issues relating to care and treatment of individuals with a serious medical condition, geriatric or pediatric or clinical research. One member appointed by the governor shall be a patient, a family or household member of a patient or a patient advocate.

5. What else will the medical marijuana program do for Pennsylvania?

The state’s medical marijuana program also includes funding for research institutions to study the use of medical marijuana to treat other serious conditions. In addition, the law establishes an advisory committee that will review the research findings and make recommendations to the legislature for changes to the program.

John George covers health care, biotech/pharmaceuticals and sports business.


Marijuana Business

If you are thinking about getting into the marijuana business, Medicine Man Technologies offers first hand industry experience. Through comprehensive cannabis industry seminars, you will learn about the cannabis industry and learn about partnering with us through licensing. 

We provide you with the industry insight we have gained from personal experience in the industry. Through consulting services, cultivation technology and dispensary operations, we will help you get your business on the right track.

Take a look at our website for a better understanding of what makes us one of the top marijuana business consultants in the industry. Our experts offer industry proven advice to help you have a successful start and plan for a prosperous future for your marijuana business.


Marijuana Business Consulting

Medicine Man Technologies is made up of industry experts each bringing their unique skills and expertise to this industry. We provide marijuana business consulting for those individuals who are thinking about opening a cannabis business and for those who already own one. Our professionals can provide the guidance you need to run a successful business. 

Most entrepreneurs don’t have the knowledge needed to run a cannabis business. Our marijuana business consulting will help you understand the various legal aspects to this type of business. We will be your guide for the industries best practices and benchmarks.

Because this industry is booming it’s important to know everything from cultivation, processing, edibles, extractions, retail operations, shepherding of licenses and applications to regulatory compliance. Our team is dedicated to providing the finest marijuana business consulting services. Visit us online for more information.


Getting started in the legal marijuana industry

Getting started in the legal marijuana industryGetting started in the legal marijuana industry is made easy by the experts at Medicine Man Technologies. We offer cannabis licensing and consulting services with state-of-the-art cultivation and dispensary operating solutions. We provide our expertise to clients who have the resources necessary to become part of the competitive medical and recreational cannabis marketplace.

Between recreational and medical marijuana, sales are expected to top more than $3 billion this year according to the Marijuana Business Fact Book. This does not take into account the satellite industries such as the CPAs needed, lawyers, and the manufacturers of the machinery used in harvesting which could nearly double the 2013 totals.

If the current trend continues, getting started in the legal marijuana industry will be a lucrative endeavor. Washington and Colorado are currently the only two states to have legalized marijuana. Alaska and Oregon and a dozen other states could potentially legalize recreational marijuana. That being said, getting started in the legal marijuana industry can be a great investment with massive rewards but also with great risks.

With any business, it is always important to have the right processes in place. There are licensing issues that need to be addressed. We offer pre-licensing consulting services to help you with the state application process. Our goal is to help you secure a state-issued operating license.   Also, topics like public relations, HR, and IT, allow entrepreneurs of any background to benefit from getting started in the legal marijuana industry.

Starting a company in this industry does require partnering with experienced professionals who can help you avoid costly mistakes. The team of Medicine Man Technologies consultants can help you navigate through the process to help you begin a successful cannabis operation.  Our expertise and state-of-the-art technology have successfully distinguished our clients from all the others starting out in this competitive industry.

In addition to consulting services, we also offer cultivation technology and dispensary operations. With our licensing services, we provide operating procedures for commercial and industrial cultivation. You will also benefit from hands-on training and development for your personnel and your facility once you become operational. Our dispensary model ensures consumers and patients have safe and secure access to various recreational/medical cannabis product.

We have over 6+ years of operational experience within the cannabis industry in Denver. Our consulting services offer the business planning support you need to succeed. Often, the only thing missing, in the beginning, is the experience needed to operate a productive cannabis cultivation facility or dispensary. That is where our experts will help you get started and with our consulting support, you will have the right tools to succeed.

If you are thinking about joining the thousands of entrepreneurs who are getting started in the legal marijuana industry, Medicine Man Technologies has the experience you are looking for.  Our experts will help you navigate through the ever changing marijuana laws and legal aspect of this industry. Getting started in this industry is not for the faint of heart. We can help you get started on the right path to having a prosperous future.


ADDITIONAL STORIES

Ryan Allway | CFN Media Group (October 3 2016) Medicine Man (MDCL): Building a Leading Cannabis Brand Warehouse

Matt Koesters | WCPO contributor (September 25 2016) Could marijuana become a treatment for heroin addicts?

ABC 6 On Your Side, By Liz Bonis, WKRC (September 8 2016) Can medical marijuana help addicts transition off heroin and opioids?

Cleveland.com (September 8 2016) Colorado marijuana businesses optimistic about Ohio medical marijuana law (video)

Forbes Magazine (August 27, 2016) Act 16 legalized Medical Marijuana in PA! How Long Till Patients Have Access?

Forbes Magazine (August 27, 2016) Four Cannabis Entrepreneurs Share Their Strangest Moments

New Cannabis Ventures (August 12, 2016) Medicine Man Technologies to Issue $12.6mm in Stock to Buy Pono Publications and Success Nutrients

The Denver Post (July 28, 2016) Marijuana industry ditches burnout image for “suit and tie” approach to DNC

Leafbuyer (July, 2016) Leafbuyer presents The 2016 Power List

OEN OpEdNews.com (June 27, 2016) Pot-Powered Family Business, Growing Like a Weed in Denver

Philly Voice (May 20, 2016) – This weekend, the business of pot comes to Philly

Inc. ( April 20, 2016) – The Marijuana Business Is Really the Real Estate Business

MJINews – Marijuana Investor News (April 15, 2016) Medicine Man Technologies Inc. Shows A Profit In Its First Full Year Of Operations

Marijuana Business Daily (April 14, 2016) With Pennsylvania Medical Marijuana a Reality, Attention Turns to Regulations

New Cannabis Ventures ( April 2, 2016) 7 Experts Discuss Best Practices On Taking Your Cannabis Company Public

PR NewsWire (March 23, 2016) Medicine Man Technologies to Present at MoneyShow Cannabis Investing Virtual Event on March 30

New Cannabis Ventures (March 23, 2016) Cannabis Investing Virtual Event Features Canopy Growth, MassRoots and Medicine Man Technologies

US News and World Reports (March 17, 2016) How to Invest in Marijuana Legalization

Marijuana Business Daily (January 5, 2016) A Look Ahead: Marijuana Retail, Cultivation & Industry Trends to Watch in 2016

Westword (September 14, 2015 )Taking Stock of Colorado’s Marijuana Industry – Westword Magazine article about Medicine Man Technologies becoming a publicly traded company

CFN Media Group CFN Interview with Andy Williams – CEO of Medicine Man

CNN (January 24, 2015) Colorado’s Booming Marijuana Industry – Medicine Man was featured in this recent CNN story about our Grow Technology.

The Denver Post (January 19, 2014): Family-owned pot shop in Denver seeks to become national player

The Denver Post (June 15, 2014): Reluctance of banks leaves pot shops looking for secure practices

TIME Magazine: Pot’s Money Problem

Playboy: Chronic Insecurity

Denver Business Journal: Colorado’s dispensaries will be its first recreational marijuana sellers as well

Orlando Business Journal: 5 ways to capitalize on medical marijuana

Natural Products Insider: Recreational Marijuana: How One Denver Dispensary Is Soaring to New Highs

Slate.com: A Look at Medicine Man, One of Colorado’s Largest Marijuana Dispensaries

Fox 31 Denver: Colorado pot pioneers will soon rake in the green

BBC News Tour: Inside a Colorado marijuana factory

NBC’s Today Show: Medicine Man Denver on The Today Show 1-27-14

Katie Couric Show: Katie Couric Goes Inside a Marijuana Store

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