Marijuana Investment Scams Growing Like Weeds?
Category: News | Posted on Tue, August, 27th 2013 by THCFinder
Wall Street’s industry-funded watchdog, FINRA (Financial Industry Regulatory Authority) warns against investment scams growing like weeds targeted for investors attempting to tap the growing marijuana industry in the US.
If you talk to anyone in the growing and selling medical marijuana, you will hear a lot of talk about risks, and security systems are expensive. It’s difficult to find a bank or insurance, but laws changed at the whim of regulators and legislators. And, because it still remains illegal, federal agents could shut down the operation and put the owners to jail.
Seattle-based Privateer Holdings is the first company to invest openly and raise $7 million from investors in the medical marijuana industry. Nearly 20 states have legalized the use of recreational marijuana for medical use. FINRA said, scammers are misleading investors by boosting thinly traded stocks and sell it to executives with criminal records.
As more states in the US are clearing the way to legalize the use of medical marijuana, the industry could reach up to $9 billion in five years. Marijuana is safe, far less addictive and subject to abuse compare to many drugs used as hypnotics, relaxants, and analgesics, which is one of its greatest advantage. Because of its little effect on major physiological functions, case of lethal overdose was known.
According to The Wall Street Journal Market Watch: The chief legitimate concern is the effect of smoking on the lungs. Cannabis smoke carries more tars and other particulate matter than tobacco smoke. But the amount smoked is much less, especially in medical use, and once marijuana is an openly recognized medicine, solutions may be found such as vaporization, tinctures, extracts and oils. At present, the greatest danger in medical use of marijuana is its illegality, which imposes much anxiety and expense on suffering people, forces them to bargain with illicit drug dealers, and exposes them to the threat of criminal prosecution.
Majority of these marijuana-related companies trades on over-the counter-markets that do not have the reporting requirements and liquidity of Nasdaq and the New York Stock Exchange.
Read more: http://guardianlv.com
Boulder dispensary names pot strain for CNN's Sanjay Gupta
Move over Willie Nelson, there's a new strain in town.
Boulder's Helping Hands Herbals dispensary, 1021 Pearl St., is now carrying a variety of medical marijuana named for CNN chief medical correspondent Dr. Sanjay Gupta.
The "Gupta Kush," is a strain of cannabis that Helping Hands named in honor of the renowned neurosurgeon and cable news personality after earlier this month he reversed his long-held beliefs on the subject and publicly supported exploring the medicinal benefits of marijuana.
Gupta wrote an editorial for Time magazine in 2009 about why he would not support medical marijuana research, but after spending the last year working on a documentary on the subject, he changed his mind.
"(Marijuana) doesn't have a high potential for abuse, and there are very legitimate medical applications," Gupta wrote in an article posted to CNN.com on Aug. 8. "In fact, sometimes marijuana is the only thing that works."
"Our take is, 'We told you,'" Helping Hands marketing director Daniel Taras said. "But for the folks that are uninitiated, having someone with (Gupta's) level of his prestige and position coming out and saying 'I support the use of medical marijuana,' really lends a lot of credibility in the mainstream consciousness."
Gupta, whose was previously considered for the post of U.S. surgeon general, joins a select group of celebrities and public figures with cannabis strains named after them, including President Barack Obama and rapper Snoop Dogg.
CNN Trying to Stop Strain of Marijuana Being Named for Dr. Sanjay Gupta
A medical marijuana dispensary in Colorado is being told by CNN that its lighthearted humor in naming a strain of weed after Dr. Sanjay Gupta is no laughing matter.
The cable news giant, owned by Time Warner (TWX), spoke with the Boulder dispensary and asked that they rename the pot in honor of something other than their chief medical
“We may have to change the name,” dispensary owner Jeff Kless told Animal New York. “CNN phoned us and asked us to remove it. I think we’ll leave it alone for the weekend and see what happens.”
CNN has not yet issued a cease and desist letter — which will likely cite copyright infringement.
For the time being, though, the Sanjay Gupta Kush is selling at Helping Hands Herbals Dispensary for $35 for an 1/8 and $12 a gram. In the world of medical marijuana sales, it’s supposedly a deal.
According to the dispensary’s press release, “By naming a cannabis strain after Dr. Gupta, this is our way of tipping our hat and honoring him for taking such a firm, science-based stance on behalf of marijuana as ‘real’ medicine. He is confirming what our patients have been saying for years. Marijuana is hardly folk medicine.”
U.S. Government Funding $1.86 Million Study In Attempt to Link Cannabis To Domestic Violence
The National Institute on Drug Abuse is funding a nearly $2 million study in an attempt to find a link between cannabis consumption, and domestic violence: We have little doubt that it’s going to backfire, and conclude that cannabis reduces violence among partners.
For the study, the National Institute on Drug Abuse (NIDA) is granting the University of Buffalo$1.86 million to conduct 4 years of research; the study will be titled Proximal Effects of Marijuana in Understanding Intimate Partner Violence.
According to a university press release; “[Maria Testa, Ph.D, lead researcher for the study] says that despite the commonly held belief that marijuana suppresses aggression, many studies have found a positive association between marijuana use and intimate-partner violence.”
This statement has no legitimate science to back it up; in fact, a recent study published in the journal Neuropharmacology has found that cannabis reduces aggression (as well as improves social interactions).
All-in-all, this study – at least to us – is an indication of how desperate prohibitionists are becoming, as they attempt to find any negative effect that cannabis might have, in order to use when debating against legalization.
We hate to say it NIDA (actually, that’s a lie, we enjoy saying it), but you’re never going to be able to legitimately use the argument that cannabis causes domestic violence.
DEA Pressures Armored Truck Companies To Quit Working With Medical Marijuana Dipsensaries
Category: News | Posted on Sat, August, 24th 2013 by THCFinder
The DEA Has Done Everything That It Can Think Of To Make The Medical Marijuana Industry ‘Cash Only’ Without Security Services
The DEA is getting craftier in their war against medical marijuana. Multiple reports came out today that armored security services are discontinuing business with medical marijuana dispensaries, citing ‘pressure from the DEA.’ Most security system services won’t work with medical marijuana dispensaries, credit card companies won’t work with medical marijuana dispensaries, banks won’t work with medical marijuana dispensaries, there’s the 280e tax issue, and now of course you can add armored truck companies to that list.
That is a pretty hard core environment for any business to operate in. Medical marijuana dispensaries can basically only accept cash, can’t store the cash in the bank, can’t have a reliable way to transport that cash safely, and unless you use a new start up ‘cannabis only’ security company, there will be no alarm if someone breaks into the medical marijuana dispensary to steal the cash (or whatever else). All of this of course occurring in states that have state laws recognizing the legality of medical marijuana dispensaries…Why does the federal government hate medical marijuana so much?
From the Huffington Post ,one of my marijuana heroes Tom Angell from the Marijuana Majority:
“The president says he has bigger fish to fry than go after individual users, but at nearly every step, his administration has tried to make it so those users are unable to purchase marijuana through safe and regulated means…By pressuring banks not to do business with dispensaries, the federal government ensures that many of these taxpaying businesses have to become cash-only, increasing the chances of robberies.”
Read more: http://www.theweedblog.com
DEA Must Pay $3 Million In 2010 Killing Of LA Teen
Category: News | Posted on Sat, August, 24th 2013 by THCFinder
A federal judge Tuesday awarded $3 million to the family of an 18-year-old Los Angeles honors student who was gunned down by undercover DEA agents in a parking garage in 2010. But the judge also ruled the officers were not negligent in their actions.
Zachary Champommier died when he drove into a Studio City shopping center parking lot to meet a friend. Also in the parking lot were a group of undercover officers, including DEA agents and LA County sheriff’s deputies and LAPD officers who had been deputized by the DEA.
The cops were discussing a search warrant they had just served when they observed Champommier’s friend walking in the parking garage. Suspecting the friend was breaking into cars, they detained him. When Champommier drove up, he saw his friend being accosted by people he didn’t know and attempted to drive away from possible trouble.
Officers claimed that Champommier’s vehicle struck a deputy as he attempted to leave the scene. Officers opened fire, killing the 18-year-old honor student and “band geek.”
Both the DEA and the LA County Sheriff’s Department said the shooting was justifiable because Champommier had tried to run down an officer.
“The nature of [Champommier's] aggressive actions, actually hitting the deputy — that is not someone who is without some degree of fault,” Sheriff Lee Baca said shortly after the shooting.
Read more: http://www.theweedblog.com
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