For those that don’t know, April 20th is widely regarded as the most significant holiday for cannabis enthusiasts throughout the US Each year, countless consumers and industry professionals celebrate another year made richer through the incorporation of cannabis into medical treatments, recreational activities, entrepreneurial ventures, and technological innovations. It’s a day for people to reflect on the past year and come together for a moment of joy and anticipation for the next.
Here’s what cannabis industry professionals have to say about the holiday:
Greg Lambrecht, CEO of SinglePoint (OTCMKTS: SING)
"Regulations in the cannabis industry change on municipal, state, and federal levels on a near-daily basis, and given that fact, it's more important than ever that industry professionals reflect on what's transpired in the space since 4/20 of last year and prepare for the changes to come in the months ahead. I'm optimistic as to the cannabis space's long-term growth, as well as business owners' ability to study the industry's trajectory."
Matt Stang, Chief Revenue Officer at High Times
"I've noticed that public perception of cannabis has changed a great deal in the last year, which has made the passage of legalization ballot measures much easier. Furthermore, despite concerns that federal illegality will be more strongly enforced in our current presidential administration than it was in the prior one, there doesn't seem to be any slowing of investors, entrepreneurs, or enthusiasts flowing into the space."
William Waldrop, CEO of Signal Bay, Inc. (OTCMKTS: SGBY)
"On a national level, the biggest change has to have been the success realized at the ballot boxes for legal cannabis in Nevada, Massachusetts and California. The types of conversations and groups that are interested in financing and funding have changed dramatically for the better since November 10th. Business owners seeking to raise capital have had to evolve, clarifying their focus to unique, scalable and repeatable business models. There is also an expanded focus on consumer safety, not only here in Oregon, but with new rules being finalized in California, it will be a game changer in the industry across the country as 2017 unfolds."
Pantelis Ataliotis, President of Dr. Dabber
"The most notable changes in the cannabis industry that I've noticed have been shifts in FDA regulations and the passage of legalization ballot measures in a number of states. The shift in FDA regulations has required us to add an 18+ label to all of our products, an age gate to our website, and "Adult Signature Requested" status to our outgoing retail packages, which has served as a major adjustment for us (as well as other cannabis-related product distributors). As for the passage of legalization ballot measures, we've been operational as a company in the ancillary cannabis space in Nevada for some time- with the state now allowing for the consumption and distribution of recreational cannabis, however, we'll likely see the space as a whole grow to a tremendous degree."
Bryan Meltzer, Partner at Feuerstein Kulick LLP
“I view April 20th as an annual benchmark, when we can look back at the prior year and consider the progress the industry has made over the past 12 months. These past 12 months have been especially notable with the dramatic change in public opinion, the successful adult-use and medical marijuana ballot initiatives in the November election, and the non-stop introduction of legislation at the state and federal level to further the legalization of marijuana in 2017. I am excited to see where we are on April 20, 2018.”
Frank Lane, President of CFN Media
"The cannabis industry has rapidly evolved over the past year. The biggest change has been the legalization of recreational marijuana in additional states, like California and Nevada, as well as on a federal level in Canada. These actions have spurred many larger companies to expand their operations (or at least plan to do so) to take advantage of the growing market. On a more micro level, there has been an increased focus on cannabis testing and quality assurance, which has led companies to invest in in-house QA departments and increased demand for external QA labs. Medical marijuana and cannabinoids like cannabidiol (CBD) also continue to gain ground within the medical community as companies advance clinical trials to prove safety and efficacy."
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