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Pervasip Corp (PK)

Pervasip Corp (PK) (PVSP)

0.0004
0.00
(0.00%)
Closed April 12 4:00PM

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Key stats and details

Current Price
0.0004
Bid
0.0004
Ask
0.0005
Volume
-
0.00 Day's Range 0.00
0.0001 52 Week Range 0.0007
Previous Close
0.0004
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
21,921,815
Financial Volume
-
VWAP
-

PVSP Latest News

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PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1000.00040.00050.000345035530.00042736CS
4000.00040.00050.000350809670.00041055CS
120.00021000.00020.00070.0001219218150.00049119CS
26000.00040.00070.0001164806660.00041753CS
52-0.0001-200.00050.00070.0001131909360.00043334CS
156-0.0086-95.55555555560.0090.03990.0001196418370.00249254CS
2600.00033000.00010.03991.0E-6248122270.00243532CS

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PVSP Discussion

View Posts
jobynimble jobynimble 3 hours ago
The attorney letter out yesterday was amended from 3/29/24…
👍️0
jobynimble jobynimble 3 hours ago
Just checked OTCmarkets.com and noticed the attorney letter out yesterday…

https://www.otcmarkets.com/otcapi/company/financial-report/397385/content
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poor2blessed poor2blessed 1 day ago
Thanks oldrogue
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oldrogue oldrogue 2 days ago
Next week or later, according to Yahoo next week. A late post from PVSP mentioned “ end of April “ so we will see when.

Oldrogue.
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poor2blessed poor2blessed 3 days ago
Time for a Zen update!! PVSP?????

😭 1
Urocka Urocka 5 days ago
Sure Would Be Nice To Hear Something this Week...4/20 is right Around the corner....

Where is the ZEN???

$PVSP
🫣 1
DSherman DSherman 1 week ago
It’s just an opinion!! I don’t see it as a big deal with/for Zen unless a larger issue wants to merge with them.
👍️ 1 🥯 1
DSherman DSherman 1 week ago
Experienced public Co management from a sales/marketing background.
Zen.
👍️ 1 🧀 1
MasterBlastr MasterBlastr 1 week ago
DS you have been crowing for years about how much money Riss has made you. Tell him to get busy already.
👍️ 1 🤪 1
MasterBlastr MasterBlastr 1 week ago
Yes, and with enough shares out to choke a horse.
👍️ 2 🤭 1
36Knuckle 36Knuckle 1 week ago
Yeah I hear ya!
Pot tickers across the board are giddy with anticipation...all but this one...go figure...
Paul Riss effect?
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poor2blessed poor2blessed 1 week ago
Is there anything positive about PVSP Zen that you can talk about??

What would you do to turn this around??
👍️0
poor2blessed poor2blessed 1 week ago
I disagree DSherman!! I think it CAN surpass the 60% threshold. IMO!! The combination of recreational marijuana and abortion rights on the ballot will // maybe have a huge turnout!! Just my thoughts 🤔🤔🤔
👍️ 1
DSherman DSherman 1 week ago
Additionally, it will be hard to pass in Fla imo. We shall see!!!
Zen
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DSherman DSherman 1 week ago
Lolololol , they hardly have any biz in new places they did try. However, think of all the shares they would need to sell once they start playing in Florida!!!!
Zen
👍️ 1
poor2blessed poor2blessed 1 week ago
Does ArtiZen have any business in Florida?? Inquiring minds want to know!!! 😁😁😁😁😁
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DSherman DSherman 1 week ago
It’s as it has always been, one guess as good as another. But the good news to keep an idiot happy is Germany will have legal weed!!
Zen
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DSherman DSherman 1 week ago
AND ANOTHER IRRELEVANT POST!!! Talk about the cut and paste irrelevant idiot.
Zen
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DSherman DSherman 1 week ago
Lolololol, only an idiot would post about Germany approving weed as though it is relevant to pvsp. How long has it been R????
Zen
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DSherman DSherman 1 week ago
Not at all, but I think it was a smart move putting it in the letter.
Zen
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JEM165 JEM165 1 week ago
Interesting GREEN morning. Letter is a good sign for us. $PVSP
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36Knuckle 36Knuckle 1 week ago
Attorney letter dated 3-29-24...Thanks for the kickback...I don't think I've seen that statement in an attorney letter before so I had to ask...even if it was stupid!
https://www.otcmarkets.com/otcapi/company/financial-report/396052/content
👍️0
Bjones2 Bjones2 1 week ago
Florida Supreme Court approves ballot measure to legalize recreational marijuana

If the provision gets 60 percent in November, it will legalize recreational marijuana in the country’s third-most populous state.

Florida voters will have a chance to weigh in on recreational marijuana legalization this November. | John Minchillo/AP

By AREK SARKISSIAN

04/01/2024 05:43 PM EDT

TALLAHASSEE, Florida — The Florida Supreme Court will not block a ballot initiative that seeks to legalize recreational marijuana use for adults in this year’s general election, giving a major boost to the effort to open up pot use in the third-most populous state in the country.

With the green light from Florida’s conservative-leaning high court and more than 1 million signed and certified voter petitions in hand, Florida voters will have a chance to weigh in on an issue the state’s Republican-led Legislature has rejected for years.

The decision was in response to a request made by Florida Republican Attorney General Ashley Moody to reject the ballot language, arguing the measure fails to remind voters about a federal ban on marijuana.

Florida’s Supreme Court in a 5-2 ruling determined that the ballot language proposed by the Smart & Safe Florida committee to go before voters in November’s election fit the state’s single-subject rule for ballot initiatives.

Justice Jamie Grosshans wrote in the majority opinion that the ballot language was not too confusing for voters, and rejected an argument that the proposed amendment would require the Legislature to create new licenses to sell pot beyond the companies currently allowed to sell medical marijuana.

“We do not believe the summary would confuse a voter into thinking that the Legislature is required to authorize additional licenses,” the opinion states, later adding, “It clearly states that the amendment legalizes adult personal possession and use of marijuana as a matter of Florida law.”

Smart & Safe Florida’s campaign was funded by more than $39 million from Trulieve, which is the largest medical marijuana company in Florida. The proposed amendment, if approved by 60 percent of voters in November, would allow Trulieve and the 24 other companies licensed by the state to sell and grow pot for medical use to begin selling to anyone over the age of 21.

“We are thankful that the Court has correctly ruled the ballot initiative and summary language meets the standards for single subject and clarity. We look forward to supporting this campaign as it heads to the ballot this Fall,” Trulieve CEO Kim Rivers wrote in a statement, later adding that a coalition of companies has formed to aid in the campaign to November.

Trulieve operates 131 of the 618 medical marijuana dispensaries in Florida, and Moody used the Tallahassee-based company’s market position to argue that the ballot language was not written within the best interest of voters.

Lawyers from Moody’s office argued in briefs — filed before the court heard oral arguments in November — that the company was footing the bill for the initiative so it could lure consumers to willfully break federal law in the name of profit.

The justices all but dismissed Moody’s arguments during oral arguments. The same court had previously rejected two legalization initiatives from recent election years, handing down decisions that identified several mistakes. Lawyers for Smart & Safe Florida argued that the proposed language sought to address the mistakes that were cited by the court in the previous decisions, and Moody’s lawyers argued that the court should reconsider parts of the previous decisions.

In Monday’s opinion Grosshans wrote the amendment does not violate the single subject rule by impacting the state’s medical pot industry.

“Selling and possessing marijuana appear, for better or worse, directly connected, and we cannot say that an amendment addressing both components violates the single-subject requirement,” the opinion states.

Gov. Ron DeSantis in 2019 was hailed a champion by medical marijuana businesses and patients just weeks after he first took office, after he called on the state Legislature to repeal a ban on the sale of smokable marijuana known as flower.

DeSantis has since signed legislation that tightened the state’s controls on medical marijuana marketing to further prevent advertising that attracts children and implied that products were for recreational use. And his annual state budget recommendations to the Legislature have included millions in funding to expand testing, safety and enforcement efforts at the Office of Medical Marijuana Use.

DeSantis has, however, called recreational pot use a “real problem,” even lamenting the plant’s “stench.” While campaigning for president last year, DeSantis told reporters that marijuana has become more potent over the past two decades and warned that it could be laced with fentanyl.

“I think it’s a real, real problem, and I think it’s a lot different than stuff that people were using 30 or 40 years ago,” DeSantis said. “And I think when kids get on that, I think it causes a lot of problems.”

Florida already has the largest medical marijuana program in the country, with more than 871,000 patients registered with the state Department of Health.

More than 71 percent of voters legalized pot for medical use in 2016 after a successful ballot initiative backed heavily by high-profile Orlando lawyer and self-proclaimed “Pot Daddy” John Morgan, who contributed close to $7 million in cash.
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Bjones2 Bjones2 1 week ago
LOL the Village Idiot speaks again, LOL

Dumbest post from you ever, it is a conspiracy, run for the hills, bla, bla, bla.
💩 1 🤡 1
DSherman DSherman 2 weeks ago
Not sure where you found this or if it’s a good investment for him. What it does mean to me is pvsp knew back then that Zen would not be spinning off as they earlier claimed to the market.
👍️0
36Knuckle 36Knuckle 2 weeks ago
Mr. D!...
Am I to understand this "warrant" came with this lawyer's employment? This guy was here before German Burtscher took over PVSP...Now he has to make up his mind within 7 months? You consider this being mentioned a "plus" or just fluff for his letter to shareholders? TIA...

"I am the owner of a warrant dated March 3,
2021 conferring the right to purchase up to 10,000,000 shares of the Issuer’s stock up to the
close of business on November 30, 2024 with an exercise price of $0.0025 per share."
👍️0
allenc allenc 2 weeks ago
Just my guess, we will not see audited FY 2023 fins until around late April to mid May. We will not see a Artizen Spin off until late Sept to mid Oct this year. Could very well be spring of 2025. Hopefully this plan doesn't "go up in smoke" pun intended.
👍️0
DSherman DSherman 2 weeks ago
Irrelevant to pvsp/zen!!
👍️0
DSherman DSherman 2 weeks ago
Irrelevant!!!
Zen
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DSherman DSherman 2 weeks ago
If you have not figured it out yet, Zen has no experienced management capable of taking them to the next level. And if anyone disagrees , please explain the FLAT GROWTH OVER THREE YEARS!!! Great, they have cut expenses which looks good for a small private Co doing $15mm/yr. This my friends is what is holding the spinoff from occurring, at this point it will be a failed attempt. This is evident re the sake of pvsp shares re Zen shares to date. Hopefully, this may change.
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Urocka Urocka 2 weeks ago
Pole Rust....I'm dying laughing....yes I remember well the Congratulations messages and it seemed like the price went down every time he did that....
👍️0
Bjones2 Bjones2 2 weeks ago
Congressional Lawmakers Push Attorney General To Issue ‘Overdue’ Marijuana Guidance, Saying Ongoing ‘Legal Limbo’ Is “Unacceptable’

Published on March 27, 2024By Kyle Jaeger

It is “unacceptable” that the Department of Justice has yet to reissue federal marijuana enforcement guidance to discourage interference in state cannabis programs, leaving Americans in a “legal limbo” despite promises to update the policy, two Democratic congressional lawmakers said in a new letter to the attorney general.

Writing to Attorney General Merrick Garland on Wednesday, Congressional Cannabis Caucus co-chairs Reps. Earl Blumenauer (D-OR) and Barbara Lee (D-CA) said the department should “correct this oversight and reissue a memo making clear DOJ’s limited resources will not be spent prosecuting those acting in accordance with state or Tribal law.”

It’s been over six years since then-Attorney General Jeff Sessions rescinded the previous Obama-era Cole and Wilkinson memos that generally directed prosecutors not to interfere with state and tribal marijuana laws, respectively. And making matters “especially concerning,” it’s been over a year since Garland signaled that updated guidance was forthcoming, they said.

CDC says teen pot use declined in Washington after legalization
“While we appreciate the historic steps the Biden-Harris Administration has taken to pardon federal simple possession marijuana offenses and begin the formal review of marijuana’s schedule under the Controlled Substances Act, it is unacceptable that more than half of Americans living in jurisdictions with legal marijuana markets are left in limbo without public guidance to prevent unjust prosecution of those complying with their state’s or Tribe’s regulations,” the lawmakers wrote.

“Law enforcement, state regulators, small businesses, patients, and everyday Americans are caught in the ambiguity of the federal-state gap, made worse by the delay in reissuing the Cole and Wilkinson Memoranda protections,” they said.

Blumenauer and Lee also noted that, for years, they’ve “urged DOJ to act on this commonsense protection,” and they’ve been “consistently disappointed in meetings with agency leadership and DOJ prosecutors on existing policies.”

“As congressional allies in the work to undue the harms of the misguided war on drugs, we request answers on the delays in reissuing these protections:

Given President Biden and Vice President Harris’ public position that no one should be incarcerated for marijuana possession, what steps is DOJ taking to ensure state- or Tribe-legal actions are not prosecuted?
What is the DOJ’s specific timeline for reissuing the Cole and Wilkinson Memoranda protections?”

“While Congress works to address the impacts of the federal-state gap on cannabis policy, the urgency of issuing public guidance addressing federal prosecution of those who comply with state and Tribe cannabis laws should inform DOJ’s actions,” the letter concludes. “We look forward to your response and to the long overdue reissuing of these critical, fiscally responsible, and common-sense protections.”

When Garland was asked about the issue during a Senate Judiciary Committee hearing last March, he said that it was “fair to expect” that the updated marijuana policy would be “very close to what was done in the Cole Memorandum.”


At an earlier hearing in June 2022, the attorney general said the Justice Department was still “examining a wide range of issues that relate to marijuana and its production, sale and use, and we intend to address these issues in the days ahead.”

While there’s still no formal guidance in place, the federal policy of non-interference in state cannabis programs has generally persisted over the recent administrations. But advocates want to see the memo reissued nonetheless for added protections.

In the meantime, the Drug Enforcement Administration (DEA) is working to complete its review into cannabis scheduling after the U.S. Department of Health and Human Services (HHS) recommended moving it from Schedule I to Schedule III of the Controlled Substances Act (CSA).
👍️0
36Knuckle 36Knuckle 2 weeks ago
WTF!...Man I wanted it to be ZEN so bad!...sorry.
👍️0
jobynimble jobynimble 2 weeks ago
Wrong board…
👍️0
Bjones2 Bjones2 2 weeks ago
DEA Officials Discuss Marijuana Scheduling Timeline, Seeking To ‘Correct Misperceptions’ That Decisions Are Made In A ‘Shroud Of Secrecy’

Published on March 28, 2024
By Kyle Jaeger

A Drug Enforcement Administration (DEA) official says the agency wants to “correct misperceptions” that its drug scheduling review process is done in a “shroud of secrecy” as it works to reach a final decision on possibly reclassifying marijuana. He also said it sometimes takes up to six months for DEA to complete its analysis of health officials’ recommendations—which is just about how long it has now been since the agency began its current cannabis assessment.

In the latest episode of the agency’s “Prevention Profiles: Take Five” series, DEA Senior Prevention Program Manager Rich Lucey spoke with DEA pharmacologist Buki Ebeigbe about the scheduling process and specifically how it relates to the ongoing cannabis review—marking the first time that officials with the agency have discussed its current analysis of marijuana’s Schedule I status publicly in any depth.

“I just think it’s important for people to—again, going back to correcting misperceptions and really the issue of transparency and, by us even doing this podcast, just to help people understand the process,” Lucey said. “We don’t want it to necessarily feel as if it’s behind this shroud of secrecy, which I think then lends itself to this idea that it’s a whole arbitrary process.”

Transparency has been a key concern for advocates and lawmakers, with DEA declining to say anything publicly beyond confirming that they’ve received the recommendation from the U.S. Department of Health and Human Services (HHS) to move marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA) and are now carrying out their own review.

That process is “independent” of the HHS review, Lucey stressed.

That’s right,” Ebeigbe said. “It’s in its process. We’ve received [the HHS analysis], and we’re in the process of writing that recommendation” on cannabis scheduling to DEA Administrator Anne Milgram.

“Once that information is compiled and that document is written—that eight-factor document is written—it’s reviewed through our internal process,” she said, referring to the multi-step analysis the agency is completing on the effects of cannabis. “Ultimately, the administrator will make a decision on where to place it—whether to change it or whether to remove it or whatever.”

Lucey also commented on the complexity of drug scheduling reviews and what that means in terms of timing.

“Right now it’s a ‘wait and see.’ HHS has done their part, and now DEA is doing its part, which is that eight-factor analysis. And that can take anywhere from like three to six months sometimes,” he said. “I mean, it’s not like we’re going to be done in a week. It never happens that way.”

While Lucey was speaking generally about the drug scheduling review process, that timeline is notable. HHS delivered its Schedule III recommendation to DEA last August, meaning it’s been more than six months now that the drug agency has been conducting its own review. And there’s significant pressure to complete its work expeditiously.
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Bjones2 Bjones2 2 weeks ago
Former governor launches Jesse Ventura Farms cannabis brand

Good time to jump in with both feet!!!

Matt Sepic Minneapolis
March 27, 2024 4:32 PM

Former Minnesota Governor Jess Ventura laughed and noted that "Jimi Hendrix is looking down on Minnesota" during remarks at the state capitol as current Governor Tim Walz signed a bill legalizing cannabis as of Aug. 1.

Ventura, who started the process by lighting a spark when he was governor, also said he was glad to have lived long enough to witness this day.

Judy Griesedieck for MPR News

Former Minnesota Gov. Jesse Ventura is launching his own brand of cannabis edibles.

Ventura is partnering with Columbia Heights-based Retro Bakery, which is producing hemp-derived THC edibles under the Jesse Ventura Farms brand.

Ventura, a longtime advocate of legalizing marijuana, testified in favor of the adult-use cannabis bill at the Legislature and was with Gov. Tim Walz when he signed it last year.

Ventura has said the drug helped his wife Terry get her seizures under control and alluded to that in his product launch video.

“Cannabis saved my family’s life, and now it’s time for me to return to the cannabis world,” he said in the video.

Retro Bakery said the Ventura-branded edibles will be available for pre-order on Monday, with a launch party at the Hook & Ladder in Minneapolis on April 20.
👍️0
Shaker777 Shaker777 2 weeks ago
Congrats $pvsp shareholders
Pole Rust used to tweet that every week
When was the last time he uttered this BS?
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Urocka Urocka 2 weeks ago
I got on their case on Twitter/X This Morning. I HIGHLY SUGGEST Yall do the same and let's continue to Challenge them to Complete th Spin-Off and make Good Business Decisions For All Involved.... I Just don't understand how nonchalant They (Management ) have been over time....it's Almost Like Rich People With Free Weed to Smoke Who Have No Worries and don't Care About the Market Cap or Share Price of the Company....ACTIONS SPEAK IN THE MARKET...TALK IS CHEAP... Good RESULTS MATER$$$$

Plus...the Name Sucks....no one wants to type in the word starting with Perv.... on their phone......to find a company name...don't what kind of shit weed Paul Russell Was Smoking when he Came up with that Shitty Name....... okay rant over...


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Urocka Urocka 2 weeks ago
The SAFER Banking Act would help the industry however not sure if It would be a path to Profits for Artizen... We Need That Schedule 1 changed by the Health Department to see a Boom In Business...

Where is the ZEN???? $PVSP
👍️0
Urocka Urocka 2 weeks ago
I guess this is the time of year where management says....smoke em if you got em.....we are.....

Where is the Zen?? $PVSP
👍️ 1
DSherman DSherman 2 weeks ago
Be just a little pragmatic and logical, unless it’s west/west coast coast and certainly not Germany it is beyond Zen’s reach. What is pertinent is and what is not is not. The only thing that will save Zen as a public Co is growth which we are not seeing to date.
👍️ 1
oldrogue oldrogue 2 weeks ago
DSherman, It’s all about Artizen, PVSP isn’t going to move much with current media stories.

Artizen should and probably will be influenced by the Federal and State law changes. GLTA!

Oldrogue.
👍️0
DSherman DSherman 2 weeks ago
Three totally irrelevant posts re pvsp, sad sad sad.
👍️ 1
Bjones2 Bjones2 2 weeks ago
Why Marijuana Stocks Are Hopping Again on Tuesday
Rich Smith, The Motley Fool
Tue, Mar 26, 2024, 12:04 PM EDT2 min read

In This Article:
SNDL
+13.87%

Marijuana stocks are red hot Tuesday, as investors digest the latest cannabis news. And what news we've got! Last week, Vice President Kamala Harris voiced plans "to legalize marijuana" in the U.S. In just a few days, Germany will do just that, decriminalizing both marijuana possession and home cultivation of cannabis effective April 1.

Investors who pocketed gains yesterday are lining up to buy more on Tuesday. As of 10:40 a.m. ET, shares of marijuana stocks Cronos Group (NASDAQ: CRON), SNDL (NASDAQ: SNDL), and Canopy Growth (NASDAQ: CGC) are up 4.8%, 8.3%, and 11.8%, respectively.

Voters support cheaper marijuana
There's good reason for optimism. While U.S. federal marijuana legalization may or may not happen, support is building in Congress for legislation making sales at the state level -- where 24 states have fully legalized weed -- more profitable for the companies that sell it.

As cannabis news source Marijuana Moment reports, an American Bankers Association poll finds that 63% of voters polled support Congress passing a Secure and Fair Enforcement Regulation (SAFER) Banking Act to let cannabis companies secure loans and use other banking services. Leading senators such as Banking Committee Chairman Sherrod Brown and Senate Majority Leader Chuck Schumer already support the bill.

Legalizing bank services would lower the cost of doing business for companies that cultivate and sell marijuana, potentially making these businesses more profitable, allowing them to lower prices for consumers -- or both. As such, it's a logical next step for Congress to take, even prior to full-scale legalization.

Tick tock
All that said, Congress has been trying to pass "SAFER" for half a decade now, so far without success. While legalization is probably coming, in whole or in part, it remains to be seen which cannabis companies will survive to see it.

Analysts don't see Canopy Growth turning profitable before 2028 for example, or Cronos turning a profit... ever. SNDL, however, might earn a profit in 2025 -- and has enough cash to last eight more years at its current burn rate. When betting on marijuana legalization, don't forget to keep an eye on a company's cash.
👍️0
Bjones2 Bjones2 2 weeks ago
Biden, at risk with young voters, is racing to shift marijuana policy

A Biden campaign aide said marijuana policy is one of a number of issues the campaign believes will motivate young people.
(Jose Luis Magana/AP)

BY NOAH BIERMAN
STAFF WRITER

MARCH 26, 2024 3 AM PT

WASHINGTON — Vice President Kamala Harris looked up from prepared remarks in the White House’s ornate Roosevelt Room this month to make sure the reporters in the room could hear her clearly: “Nobody should have to go to jail for smoking weed.”
Harris’ “marijuana reform roundtable” was a striking reminder of how the politics have shifted for a onetime prosecutor raised in the “Just Say No” era of zero-tolerance drug enforcement. As President Biden seeks badly needed support from young people, his administration is banking on cannabis policy as a potential draw.

Biden made similar comments to Harris’ in this month’s State of the Union address — though the 81-year-old president used the term “marijuana” instead of “weed.” The administration is highlighting its decision to grant clemency for pot possession as it races to have cannabis reclassified under the Controlled Substances Act before Biden faces voters in November.

“What’s good about this issue is it’s clean and it’s clear and it cuts through,” said Celinda Lake, one of Biden’s 2020 pollsters who also works for the Coalition for Cannabis Scheduling Reform, an industry group, along with Democratic organizations supporting Biden’s reelection. “And it’s hard to get voters’ attention in this cynical environment.”

The challenge is significant. Biden is viewed favorably by only 31% of people ages 18 through 29, much worse than he fares with other age groups, according to a recent Economist/YouGov poll. Though he leads former President Trump by 21 percentage points in that age group, he needs a high turnout to repeat his 2020 formula. Biden’s age probably has played a role in alienating a group that is both essential for Democrats and historically harder to galvanize than older voters, who more consistently show up at the polls.

The U.S. Department of Health and Human Services has delivered a recommendation to the Drug Enforcement Administration on marijuana policy, and Senate leaders hailed it Wednesday, Aug. 30, as a first step toward easing federal restrictions on the drug. (AP Photo/Hans Pennink, File)
WORLD & NATION

U.S. regulators might change how they classify marijuana. Here’s what that would mean

VENICE, CA - MARCH 20, 2024 - - Pedestrians walk past the now closed MedMen cannabis store on Abbot Kinney on March 20, 2024. A pair of signs on the front windows says that the store is closing temporarily. In the summer of 2018, cannabis retailer MedMen opened a boutique shop on Abbot Kinney Boulevard in Venice - "the coolest block in America," as the company hyped in a press release at the time. But, in the years that followed, the once rapidly expanding company began to unravel. Their stock plummeted to zero and recently they abruptly closed most of their California locations, including the one on Abbot Kinney, at least temporarily. (Genaro Molina/Los Angeles Times)
BUSINESS

“In the year 2024, it’s fair to expect more from a Democratic president,” said Matthew Schweich, executive director of the Marijuana Policy Project, a nonprofit trying to loosen laws at the local, state and federal levels.

Schweich said he worries about Trump returning to office but believes Biden has done the “absolute bare minimum,” missing a political opportunity to push for legalization in Congress and to advocate for the complete removal of marijuana from the controlled substances list, which Sen. Alex Padilla (D-Calif.) and 11 other Democratic senators urged in a January letter to the DEA.

Trump, whose administration threatened federal enforcement against localities and states that had legalized marijuana, is unlikely to attract support from legalization advocates.

Polling that Lake has done for the industry shows even the incremental step Biden is seeking could boost his approval by as much as 9 percentage points with younger voters in battleground states. But it’s hardly certain how that would play out.

A campaign aide, who would speak only on condition of anonymity, said marijuana policy is one of a number of issues the campaign believes will motivate young people — important but not as prominent as top-tier concerns including college affordability, reproductive rights, the economy, climate and healthcare.

The campaign cautions against treating young people as a monolith, noting that they care about a variety of issues and tend to see connections between them. Democrats, through a variety of methods including social media influencers and a newly launched campus outreach program, are trying to make the broader case to young people that Biden is fighting for equity and change while Trump is looking backward.

They note that young voters proved critical not only in Biden’s 2020 election but also in the 2022 midterm elections, when concerns over democracy and abortion rights helped the party perform better than expected.

Overall support for legalization is now at 70%, the highest recorded by Gallup, which began polling the question in 1969, when just 12% of Americans favored legalizing marijuana. The substance is legal in 24 states and Washington, D.C., for adults, and a total of 38 have made it legal for medical use, according to the National Organization for the Reform of Marijuana Laws, a legalization advocacy group.

The administration has pitched its marijuana agenda as part of its broader efforts to change other criminal sentencing laws and to improve job and business opportunities for people who have spent time in jail or prison.

Lake argues the two efforts combined could help Biden with Black men, another group where he has lost significant support since winning election in 2020.

Padilla said he still gets asked about marijuana regulations regularly, even though California was the first state to pass a medical-use law in 1996. “It resonates with a lot of people,” he said.

In practical terms, reclassifying marijuana changes little. Federal penalties would remain the same, though the Justice Department has for decades treated most marijuana crimes as low-priority prosecutions. It would remain illegal to transport pot across state lines, meaning access to banks and financial markets will remain a hurdle, even for companies operating in states that have legalized pot.

The biggest difference is that scientists and doctors could more easily study the drug for medical uses, something that is now practically banned. Such a change could open the door for greater acceptance. It also would lower tax burdens for the industry in states where it is legal, by allowing deductions for ordinary business expenses that are currently prohibited by the Internal Revenue Service.

Other potential changes are less certain. Banks and credit card issuers, for instance, would not immediately lift restrictions on marijuana transactions, though that could come if regulators in the Treasury Department decide to take up the issue, according to Shane Pennington, an attorney specializing in the Controlled Substances Act who has industry clients.

Health and Human Services Secretary Xavier Becerra speaks during an event announcing the launch of the Bureau of Global Health Security and Diplomacy at the State Department, Tuesday, Aug. 1, 2023, at the State Department in Washington. (AP Photo/Jacquelyn Martin)
SCIENCE & MEDICINE

Senators hail federal recommendation to ease restrictions on marijuana
Aug. 30, 2023

Biden proposed reviewing marijuana’s status in October 2022, a process that usually takes an average of more than nine years, Pennington said. The Department of Health and Human Services recommended Schedule III in August, the first step toward a change. A DEA spokesperson, in an email, said the agency would not discuss the issue while it is under review.

“It often takes a very long time, but we’re in unprecedented territory here” because the order came directly from the president, Pennington said.

Harris, in her roundtable discussion on marjuana reform, showed her impatience.

“I cannot emphasize enough that they need to get to it as quickly as possible, and we need to have a resolution based on their findings and their assessment,” she said.

The rushed nature of the process could expose the administration’s actions — which are almost certain to draw lawsuits — to further scrutiny.

Kevin A. Sabet, a former marijuana policy advisor in the Obama administration who heads an anti-legalization group, noted that Biden’s Health and Human Services Department released its preliminary recommendation at 4:20 p.m., slang for weed smoking time, underscoring the political nature of a normally button-down regulatory process. He argued that the decision was poorly crafted and could run afoul of U.S. treaty obligations.

But Sabet also agrees with advocates that Biden could have gone further.

“I think what the president wants to do is reap some of the benefits of the guy who’s embracing all this stuff without actually becoming in favor of legalization,” said Sabet, who heads the group Smart Approaches to Marijuana.
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Bjones2 Bjones2 2 weeks ago
Florida bankers say passage of SAFE Act for cannabis clients is in sight

Banking & Financial Services

Medical marijuana is nearly a $2 billion industry in Florida, with over 800,000 licensed patients across the state.

RYLAND ZWEIFEL / EYEEM
Christina Georgacopoulos
By Christina Georgacopoulos – Reporter, Tampa Bay Business Journal
Mar 26, 2024
Updated Mar 26, 2024 7:30am EDT


“We need to be able to bank this population. It doesn’t matter whether you believe in [legalization] or not,” according to a Tampa banker who lobbied lawmakers to pass the SAFE Act while in D.C. last week.

THIS ARTICLE IS FOR SUBSCRIBERS ONLY
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Urocka Urocka 3 weeks ago
Less Than 300$ in total Trades for today....Sooooo Sad... Management?????????

Where is the ZEN??????
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Bjones2 Bjones2 3 weeks ago
Schumer Circulates Petition For Marijuana Banking Bill As Pressure Builds For Vote

Published on March 22, 2024By Kyle Jaeger

Senate Majority Leader Chuck Schumer (D-NY) is asking people to show their support for a marijuana banking bill by signing a petition as he steps up his push for the legislation. In a new email about the effort, he also reiterated his support for comprehensive federal cannabis legalization.

With Congress positioned to pass a final package of appropriations legislation for the current fiscal year, lawmakers have been renewing their call to move the Secure and Fair Enforcement Regulation (SAFER) Banking Act. And in an email blast on Friday, Schumer again leaned into the issue.

“Can you imagine running a business without being able to deposit your money anywhere?” the email says. “That’s the reality for law-abiding marijuana businesses across the country.”

States That Legalized Marijuana See Massive Reduction in Tobacco Use
“In states where marijuana is legal, these businesses have extremely limited access to basic banking services like deposits or lines of credit. They’re forced to keep massive amounts of cash on hand—a danger for everyone involved,” it continues. “Banks are nervous to interact with legal marijuana businesses because marijuana remains illegal at the federal level.”

“I firmly believe that we should legalize marijuana. But while I continue pushing for legalization, these businesses need our immediate support,” Schumer said in the email promoting the online petition, which is a common list-building tactic for campaign fundraising. “Sign on to support the SAFER Banking Act and make sure marijuana business owners can access basic banking services.”

Completing the sign-on form then takes people to a brief questionnaire inquiring about their familiarity with the cannabis banking issue.

“Did you know about 90 percent of U.S. banks deny service to marijuana businesses?” one question asks.

“Did you know that if marijuana businesses do manage to get a bank account, they’re often charged sky-high service fees to cover the bank’s liability?” another prompt says.

“Senate Democrats are looking out for small business owners and fighting to end the unjust criminalization of marijuana. Will you help protect our Democratic Senate Majority to keep making progress on these issues?” it concludes, listing donation options.

The ball is currently in Schumer’s court. The Senate Banking Committee approved the bipartisan cannabis legislation last September, and now it’s a matter of scheduling it for floor action before it’s potentially sent over to the House, which has passed earlier versions of the proposal in some form seven times in recent sessions.

But at least in terms of messaging, lawmakers seem freshly optimistic about the bill’s prospects.

Schumer told Marijuana Moment earlier this month that the bill remains a “very high priority” for the Senate, and members are having “very productive” bicameral talks to reach a final agreement.

Senate Banking Committee Chairman Sherrod Brown (D-OH) also said on Thursday that passing the SAFER Banking Act off the floor is a “high priority.” However, he also recently said in a separate interview that advancing the legislation is complicated by current House dynamics.


House Majority Whip Tom Emmer (R-MN) separately said during an American Bankers Association (ABA) summit on Tuesday that he wants to see the SAFER Banking Act move.

He said that, “for whatever reason, the federal government has been slow” to act on the incremental reform that he supports even though he doesn’t identify as “a marijuana guy.”

One key factor that’s kept the bill from the Senate floor is disagreement over mostly non-cannabis provisions dealing with broader banking regulations, primarily those contained in Section 10 of the legislation.

Bicameral negotiations have been ongoing, however, and recent reporting suggests that a final deal could be just over the horizon.

The Democratic Senate sponsor of the SAFER Banking Act, Sen. Jeff Merkley (D-OR), told Marijuana Moment this month that the legislation is “gaining momentum” as lawmakers work to bring it to the floor and pass it “this year.”


The office of the Republican SAFER Banking prime sponsor, Sen. Steve Daines (R-MT), separately told Marijuana Moment that “conversations have been productive and Senator Daines is working to get the bill across the finish line.”


Marijuana Moment is tracking more than 1,400 cannabis, psychedelics and drug policy bills in state legislatures and Congress this year. Patreon supporters pledging at least $25/month get access to our interactive maps, charts and hearing calendar so they don’t miss any developments.
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DSherman DSherman 3 weeks ago
Now that’s funny, you may give Riss another idea, lolololol!!
Zen
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MasterBlastr MasterBlastr 3 weeks ago
Probably another 'crop failure' (wink-wink)
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