Posted on 03/05/2024 by Steven M Smith — Leave a comment

Trulieve is Florida’s and now National leader in vertical integration in Marijuana.

Trulieve, Florida’s largest medical marijuana operator, has made significant strides in the cannabis industry. Notably, they recently achieved a historic milestone by becoming the largest cannabis retailer in the United States. This achievement was made possible through their acquisition of Harvest Health & Recreation, a former competitor, in a deal worth $2.1 billion¹ ² ³. Trulieve’s success is attributed to its vertical integration approach. As a seed-to-sale company, Trulieve cultivates and produces all its cannabis products in-house. They distribute these products through their Trulieve-branded dispensaries across Florida and also offer direct home delivery to patients. Additionally, Trulieve operates in several other states, including California, Massachusetts, Connecticut, Pennsylvania, and West Virginia ¹.

Marijuana dispensary Trulieve opens second Mass. location Their combined income with Harvest Health & Recreation in the second quarter of the year was an impressive $317.6 million. Trulieve’s strategic moves, such as securing $350 million in debt financing and Harvest’s recent $55 million licensing sale in Florida, have contributed to their financial strength. Trulieve reported $215 million in cash and cash alternatives, while Harvest brought in $71 million during the same period. Together, they achieved a combined revenue of $318 million, making Trulieve the top public reporting cannabis company in the country ¹. Trulieve’s CEO, Kim Rivers, expressed excitement about the acquisition, emphasizing the shared values and focus on core markets. This strategic move allows Trulieve to expand into growing markets nationwide, including the adult-use space in Arizona. Their goal is to create an iconic U.S. cannabis brand and provide best-in-class service to patients and customers across the nation ¹. Furthermore, Trulieve has actively contributed to efforts aimed at pot legalization in Florida. They recognize the challenges faced by small business owners due to hefty application fees and the state’s vertical integration model. By supporting legalization, Trulieve aims to foster a more accessible and inclusive cannabis industry in the state ⁴. In summary, Trulieve’s commitment to vertical integration, strategic acquisitions, and dedication to serving patients and customers has solidified its position as a leader in the cannabis industry, both in Florida and nationally.

Kim Rivers, the CEO of Trulieve , has been a driving force behind the company’s substantial growth and strategic direction, especially in the context of recent federal rescheduling discussions and the company’s operational optimizations.

Trulieve CEO Kim Rivers to Give Keynote Address at Benzinga Cannabis ...

With her expected appearance at the Benzinga Cannabis Capital Conference in April in Hollywood, Florida, let’s dive into her expertise and what attendees can expect from Rivers at the conference.

Advocating For Federal Cannabis Reform

Rivers has been vocal about the potential impact of federal cannabis rescheduling on the industry. She highlighted the significant tax burdens cannabis businesses face due to current federal classifications.

Rivers expressed optimism about the Health and Human Services Department’s recommendation to the Drug Enforcement Administration regarding cannabis rescheduling. This change could significantly alleviate operational challenges for companies such as Trulieve.

Operational Growth And Expansion

Under Rivers’ leadership, Trulieve expanded dramatically, growing from 10 employees in one state to a presence in 11 states with 9,000 employees. Last year, Trulieve made seven acquisitions, including a billion-dollar merger with Harvest Health & Recreation Inc. This growth strategy increased Trulieve’s market presence and its ability to serve a broader customer base.

Optimizing Operations And Financial Efficiency

Following Trulieve’s first quarter 2023 earnings report, Rivers discussed the company’s approach to optimizing its portfolio and efficiencies across its platform.

Despite declining revenue, Trulieve reported record results for the 4/20 period and demonstrated a commitment to financial efficiency by significantly reducing selling, general, and administrative expenses.

Rivers emphasized the importance of aligning operations across the combined assets of the company’s acquisitions and the strategic management of facilities to match market demand.

Addressing Overproduction, Market Demand

Rivers also noted Trulieve’s achievements in improving gross margins and managing inventory levels, even in the face of overproduction challenges.

The company’s new 750,000-square-foot facility in Florida produced higher yields and quality than anticipated, showcasing Trulieve’s operational capabilities and commitment to product excellence.

Speaking At Benzinga Cannabis Capital Conference

Rivers is slated to be a speaker at the upcoming Benzinga Cannabis Capital Conference in April, where she will likely share more insights into Trulieve’s strategies, market perspectives and vision for the future of the cannabis industry. Her participation underscores her role as a thought leader in the cannabis space, offering valuable perspectives on navigating the complexities of the rapidly evolving market.

The CBD Effect on Cannabis

While Cannabis is a very crucial part of the Marijuana movement, we must remember that CBD is a complex field with ongoing research, legal considerations, and exciting technological advancements.

Cannabidiol (CBD) is a non-intoxicating cannabinoid compound that has been studied for its potential therapeutic effects on various psychiatric disorders ¹. A systematic review of neuroimaging studies investigating the acute impact of CBD on human brain function found that CBD induces significant alterations in brain activity and connectivity patterns during resting state and performance of cognitive tasks in both healthy volunteers and patients with a psychiatric disorder ¹. The review also found that acute CBD enhanced fronto-striatal resting state connectivity in healthy volunteers, both compared to placebo and THC ¹. Furthermore, CBD modulated brain activity and had opposite effects when compared to THC following task-specific patterns during various cognitive paradigms, such as emotional processing, verbal memory, response inhibition, and auditory/visual processing ¹. In individuals at clinical high risk for psychosis and patients with established psychosis, acute CBD showed intermediate brain activity compared to placebo and healthy controls during cognitive task performance ¹. CBD modulated resting limbic activity in subjects with anxiety and metabolite levels in patients with autism spectrum disorders ¹. CBD is thought to have neuroprotective effects due to how it interacts with CB2 receptors in the brain. CBD acts on these receptors by creating an anti-inflammatory response in immune cells in the brain. This reduces the amount of damage caused by inflammation in the brain. Oxidation is one of the most common causes of brain tissue damage ². Inspirational Technologies is likely to be adopting AI on social media to improve the efficiency of their content creation and marketing campaigns. AI-powered tools can help marketers generate new content ideas, optimize social media campaigns, and measure brand and trends across each social media channel ¹. AI prompts for social media can help marketers overcome creative blocks and generate new post ideas ². AI can also enable personalized recommendations, create more efficient customer service, and analyze data in real-time to help improve overall marketing campaign performance ³. AI tools have taken the world by storm over the last few months, and for good reason. Tasks that used to take hours are now finished in just a few minutes. The results AI tools can produce are blowing people away ². However, it’s important to note that there are also plenty of examples where AI completely misses the mark. The difference between “omg that’s amazing 😱” and “omg… that’s not right 😐” is usually a well-crafted prompt ². In conclusion, AI can be a powerful tool for social media marketing, but it’s important to use it wisely and with a human touch. AI can help marketers save time and improve efficiency, but it cannot replace human creativity and empathy ¹. IF12278 (congress.gov) Inspirational Technologies history 2018 farm bill hempsmart mcoa ceo cannabis reformation florida 2024 ballot on recreational marijuana #IntheWeedswithSteve

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Posted on 03/02/2024 by Steven M Smith — Leave a comment

In 2024, several states are poised to make significant strides in marijuana legalization.

In 2024, several states are poised to make significant strides in marijuana legalization. Let’s explore some of the key developments:

Wisconsin:
- Despite past disagreements between Democratic Governor Tony Evers and Republican lawmakers, Wisconsin is a strong contender to legalize medical cannabis this year.
- Governor Evers has expressed openness to a more limited medical cannabis program proposed by Republicans, which would initially allow for five stores to sell non-smokable cannabis products¹.

Virginia:
- Virginia lawmakers have already passed legislation that will legalize marijuana in 2024.
- Starting January 1, 2024, possession of up to an ounce of marijuana will be legal, and regulations will be implemented to control the marijuana marketplace in the state².

Other States:
- While these two states stand out, there are other states with unfinished business in terms of cannabis policy.
- Some states are likely to take up medical cannabis legalization, while others may move toward adult-use legalization.
- Additionally, campaigns are underway in Florida, Idaho, Nebraska, and South Dakota to put legalization questions before voters in the November 2024 election¹.

Remember, the landscape of cannabis legalization is dynamic, and attitudes are shifting. Whether through legislative action or citizen initiatives, we’re witnessing progress toward a more inclusive and informed approach to cannabis policy across the nation.

Let's Talk About The CBD Stigma - Holden Farms

Now, Let’s delve into the world of CBD (cannabidiol) and explore various aspects related to it:

CBD Stigma:
- Despite its growing popularity, there remains a stigma surrounding CBD. This stigma often arises from misconceptions and lack of understanding.
- Some people associate CBD with the psychoactive effects of THC (tetrahydrocannabinol), even though CBD itself does not cause a “high.”
- Efforts are being made to change this perception and educate the public about the potential benefits of CBD.
Research on CBD:
- CBD has gained attention for its potential therapeutic properties. Early studies suggest it may help with anxiety, pain relief, and neurological conditions.
- The FDA has approved a prescription drug called Epidiolex, which contains CBD as an active ingredient, specifically for treating certain types of epilepsy.
- However, more research is needed to fully understand CBD’s benefits and safety.
State Legality of CBD:
- The legality of CBD varies by state. Some states fully embrace CBD, while others impose restrictions.
- Federally, CBD derived from hemp (with less than 0.3% THC) is legal. However, CBD derived from cannabis remains a Schedule 1 substance.
- State laws play a crucial role in determining how CBD can be used, sold, and accessed.
Inspirational Technologies on CBD:
- The CBD industry is evolving, and technology is playing a significant role.
- Innovations include:
  - Smart Vaporizers: These allow precise control over temperature and dosage.
  - Concentrated Minor Cannabinoids: Companies are exploring over 100 minor cannabinoids found in hemp plants, such as CBN and CBG.
  - Regulatory Changes: Legislation could pave the way for marketing CBD as a dietary supplement, expanding distribution channels.
  - Big-Box Retail Access: CBD products may soon hit mainstream brick-and-mortar retail stores.

In summary, CBD is a complex field with ongoing research, legal considerations, and exciting technological advancements.

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Posted on 02/06/2024 by Steven M Smith — Leave a comment

Cannabis-Friendly Hotels To Visit This Year

As cannabis legalization continues to expand across the globe, more and more hotels and resorts are catering to cannabis enthusiasts. This year, travelers can look forward to a wide range of cannabis-friendly accommodations that provide a unique and enjoyable experience. From luxury resorts with designated smoking areas to boutique hotels offering curated cannabis menus, there will be plenty of options for those seeking a cannabis-friendly getaway.

The Lexi – Las Vegas

@lexihotelvegas/Instagram© Provided by TravelNoire

The Lexi is the first cannabis-friendly establishment on the famed Strip. With its sleek and modern design, The Lexi aims to redefine the concept of cannabis-friendly accommodations. Guests can expect top-notch amenities such as in-room vaporizers and personalized cannabis concierge services. The Lexi’s prime location on the famed Strip ensures easy access to nearby dispensaries and a vibrant nightlife scene. They make it the ultimate destination for cannabis enthusiasts in 2024.

Scotia Lodge – California

@scotialodge/Instagram© Provided by TravelNoire

The Scotia Lodge is a 100-year-old boutique hotel situated just above the northern entrance to the Avenue of the Giants in Scotia. It offers a unique blend of historic charm and modern luxury. With its recent renovation in 2021, the hotel now boasts 22 beautifully designed guest rooms and suites. They provide a comfortable and stylish retreat for guests. Cannabis enthusiasts in 2024 will be delighted to know that Scotia Lodge is cannabis-friendly. The hotel provides a designated smoking area where cannabis enthusiasts can enjoy their favorite strains.

RoMarley Beach House – Riviera Maya, Mexico

@romarleybeachhouse/Instagram© Provided by TravelNoire

RoMarley is a seaside paradise for cannabis fans who want to get away to the tropics. In the beautiful Riviera Maya, this one-of-a-kind retreat offers guests a variety of luxury lodging and services to help them enjoy their love of cannabis. As an exclusive beach club, this cannabis-friendly retreat offers something new. This environment allows guests to get lost in the spirit of paradise.

RoMarley Beach House offers private smoking places and guided cannabis experiences to make sure that all marijuana fans have a great and relaxing holiday.

The Arrowhead Manor – Denver, Colorado

@arrowheadmanorb&b/Instagram© Provided by TravelNoire

The Arrowhead Manor, a boutique hotel in Morrison, allows guests to smoke weed in the outdoor patio, and will book a cannabis-infused chef upon request. Guests at The Arrowhead Manor can indulge in their love of cannabis while enjoying the breathtaking views from the outdoor patio. For those looking for a truly unique culinary experience, the hotel also offers the option to book a cannabis-infused chef, ensuring a relaxing and flavorful stay. Any licensed and open option requires planning and traveling.

The Flying Pig Downtown Hostel – Amsterdam

The Flying Pig Downtown Hostel in Amsterdam is a popular choice for budget travelers looking to explore the vibrant city. Located in the heart of Amsterdam, this hostel offers affordable accommodations without compromising on comfort and cleanliness. Guests can light up their favorite type of weed, have a drink, and talk with other guests and staff. They also have a nice little deck outside.

#IntheWeedswithSteve Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Posted on 01/28/2024 by Steven M Smith — Leave a comment

Minnesota Cannabis Regulators Say Nearly 400 Weed Shops Will Open Amid Crackdown on Illicit Sales

Minnesota Office of Cannabis Management (OCM) predicts that the state will need at least 381 dispensaries to meet the requirement for local governments to provide at least one retail shop per every 12,500 residents.

Minnesota Office of Cannabis Management

Though Minnesota legalized recreational marijuana in August 2023, tribal lands were the first and only to launch legal cannabis sales shortly thereafter when the White Earth Nation Tribal Council began to sell on the reservation to both tribal and nontribal members the first week of August.

The OCM anticipates dispensaries will launch retail sales next year, once the office issues applications and establishes regulations for retailers.

In its report, issued earlier this week, the regulatory body noted that the situation is complicated by the absence of a well-regulated market for fully legalized marijuana.

“It is impossible at this time to understand the necessary supply of cannabis vs. hemp needed to accommodate total demand without further research,” the report authors wrote. “Until the adult-use market is launched and sales for both types of outlets can be thoroughly assessed, estimates of adequate product supply and outlets for the adult-use program will likely be inaccurate.”

Lack Of Regulated Cannabis Sales Boosts Illicit Market

The report also stressed that more Minnesotans are turning to illicit sources to obtain marijuana.

The “high prevalence of obtaining cannabis from a dealer, an illicit source, among Minnesota residents,” can be attributed to the absence of “legal adult-use sources,” according to the report.

Simultaneously, OCM is working on an interagency plan to put an end to hemp retailers that are selling marijuana buds that exceed the state’s limit of 0.3% delta-9 THC as industrial hemp, reported Hemp Today.

(THC) Delta-9-tetrahydrocannabinol - Learn @ Medicated Guide

The regulators are allegedly exploring the possibility of involving inspectors from the Office of Medical Cannabis and the Department of Agriculture to look into the sales of these products.

#IntheWeedswithSteve Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Posted on 12/19/2023 by Steven M Smith — Leave a comment

US States legalizing recreational use represents the Restart of a Newly Energized Cannabis Movement in the United States.

Half of all U.S. states have fully legalized marijuana and there are only six states where it is fully illegal — Kansas, Idaho, Nebraska, Wyoming, North Carolina and South Carolina (though cannabis is decriminalized in North Carolina and Nebraska).

It’s a cultural shift that has been decades in the making.

California became the first state to experiment with legal cannabis when it made medicinal marijuana legal in 1996. Maine, Hawaii, Nevada and Colorado followed suit over the next five years, allowing their citizens to also purchase medical cannabis.

The U.S. government gives the Drug Enforcement agency over $3 billion a year to fight its war on drugs, so a state openly defying the government’s edict against the plant was extremely radical at the time.

But between then and now, there was nearly two decades on no movement on the issue as the United States’ archaic federal laws against the growth and distribution of cannabis held firm.

But then in 2014 Colorado and Washington took it a step further than California did and became the first states in the union to legalize the recreational use and sale of marijuana.

That year, about 22.2 million Americans aged 12 or older reported current cannabis use, according to a national survey.

It turned out those two states legalizing recreational use represented the start of a newly energized cannabis movement in the United States. Since then, nearly two dozen states have also legalized recreational marijuana.

Washington and Colorado set the example

More than two-thirds of Americans polled by Gallup support legalizing marijuana. The 70% rate of support reached a record-high in October this year. Gallup has been issuing that cannabis poll since 1969.

Back then, just 12% of Americans admitted supporting the legalization of weed.

Gallup’s poll results also show the influence Colorado and Washington’s move to end prohibition in their states in 2014 helped spur the rapid adoption by the next 23 states.

While public support for cannabis legalization crossed the 50% mark for the first time in 2013, jumping up to 58% from 48% in 2012, it fell back down to 51% in 2014.

But since that year, support for legalizing marijuana has ballooned to the levels seen today.

“Although some health organizations and political commentators have raised concerns about the medical risks of marijuana, this hasn’t blunted the public’s desire for legalization thus far,” Gallup said.

“For now, the high level of support among younger adults suggests national backing will only expand in the years ahead, likely resulting in more states, and perhaps the federal government, moving to legalize it.”

Money is a major issue

If you think cannabis legislation moves slowly only at the federal level, you’d be wrong.

It took Hawaii, for instance, 20 years to graduate from legalizing medical marijuana — it was the first state to do so through a state legislature vote — to decriminalizing use of the plant in 2019.

While the journey has been long, the real inflection points for legalization came during the pandemic.

Shutting down the economy for over two years exposed and stressed many of the cracks in local economies that had been able to be hidden previously, and the money from taxes on cannabis (along with gambling) suddenly became more palatable for politicians who objected to legalization on moral grounds (see: John Boehner for reference).

Since 2020, Vermont, Arizona, Montana, New Jersey, South Dakota (later reversed by a circuit court judge) New York, Virginia, New Mexico, Connecticut, Rhode Island, Maryland, Missouri, Delaware, Minnesota, and Ohio have all legalized recreational marijuana.

Alabama, South Dakota, Mississippi (reversed by the Supreme Court of Mississippi) and Kentucky have legalized medical cannabis since then while Louisiana decriminalized the drug.

Maryland launched its adult-use cannabis industry in July this year and is seeing sales of $89.5 million a month. Thanks to the state’s 9% excise tax on adult use cannabis sales, the state has also received tens of millions of tax dollars it did not have access to last year.

So the economic case for legalizing cannabis is apparent for the states that are now participating. But for the rest of the country, it may take the federal government changing its laws in order for them to get on the cannabis train.

#IntheWeedswithSteve

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Posted on 12/12/2023 by Steven M Smith — Leave a comment

The Minnesota Department of Health revealed that the director of the Office of Medical Cannabis is stepping down after five years.

This past Monday, the Minnesota Department of Health revealed that the director of the Office of Medical Cannabis is stepping down after five years.

Chris Tholkes, who was appointed as a member of the new board at the government marijuana regulatory coalition Cannabis Regulators Association (CANNRA) in July, has accepted a position with the City of Minneapolis, reported CBS News.

New Jersey Becomes Founding Member of “Cannabis Regulators Association”

“I’m grateful for the many opportunities and experiences I’ve had during my 14 years with MDH,” Tholkes said. “I’m incredibly proud of our work and will be cheering folks on for the upcoming implementation work.”

Tholkes has begun her new job Friday.

Minnesota’s Marijuana Czar Quits After One Day

The news comes some two months following Gov. Tim Walz’ (D) failed attempt to name the first executive director of the new Office of Cannabis Management.

In September Walz named Erin DuPree to the role, saying that she “is a proven and effective leader, who will be successful in standing up Minnesota’s new adult-use cannabis market and helping Minnesotans succeed in the industry.”

However, after allegations of selling illegal cannabis products through her company, Erin DuPree resigned the next day.

“I have become a distraction that would stand in the way of the important work that needs to be done,” DuPree wrote in a letter to local media outlets at the time.

DuPree had advertised certain products on the Loonacy Cannabis Co. website that were later flagged and removed due to their non-compliance with state regulations. DuPree, who founded Loonacy in Apple Valley in July 2022, said she took swift action to remove the products from the inventory.

Charlene Briner is serving as interim director at OCM.

Minnesota’s Cannabis Efforts

Meanwhile, Minnesota kicked off its adult-use cannabis program this past August, while continuously amending and improving its medical marijuana program.

The Office of Cannabis Management is soliciting public input on regulations for the burgeoning marijuana industry, with a focus on cultivation, processing and product manufacturing.

Last month, the Minnesota Department of Health confirmed it would add dry herb vaporization to the list of approved delivery methods in the state’s medical marijuana program.

#IntheWeedswithSteve

Be patient Florida, this too, shall pass! Steven M Smith InspirationalTech.org CEO since 2013.

Thank you for consideration.

Inspirational Technologies

Advocating For Federal Cannabis Reform

Operational Growth And Expansion

Optimizing Operations And Financial Efficiency

Addressing Overproduction, Market Demand

Speaking At Benzinga Cannabis Capital Conference

Inspirational Technologies

For More Information on Cannabis and CBD and YOU.

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The Lexi – Las Vegas

Scotia Lodge – California

RoMarley Beach House – Riviera Maya, Mexico

The Arrowhead Manor – Denver, Colorado

The Flying Pig Downtown Hostel – Amsterdam

Inspirational Technologies

For More Information on Cannabis and CBD and YOU.

AllRightsReserved2024

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Lack Of Regulated Cannabis Sales Boosts Illicit Market

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Washington and Colorado set the example

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Minnesota’s Cannabis Efforts

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