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Understanding Cannabinoids: CBN vs CBD

While there are many cannabinoids that may enhance the therapeutic effects of hemp products, the most common renowned product is the phytochemicals in the Cannabis genus that contain the tetrahydrocannabinol or THC. This is the substance that is responsible for all of the psychoactive effects of cannabis. CBD has long been associated with the variety that offers up the best help benefits without offering up the high that the THC gives to users.

While the CBD may not be the feature that is in all of the hemp products, it’s a by-product of the THC. Hemp Genix, Wholesale CBD Oil in Georgetown, has 80% purity compared to competitors at 17%-40%.  The CBN doesn’t bind to the body’s cannabinoid receptors like the THC does. It’s long been known to give a stronger sedative effect when it’s used in combination with the THC.

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At Hemp Genix, all of our products are made with 100 percent USA, Zero THC and 80 percent purity Wholesale full-spectrum CBD oil in Georgetown. This is carefully derived from a variety of cultivars of hemp which contain an abundance of cannabinoids.

A lot of people are very familiar with CBD or Cannabidiol. This is found in highly concentrated amounts in a variety of products. However, there are lots of cannabinoids that are found in hemp. These have shown a variety of benefits in studies. All of our products offer you full-spectrum hemp oil. This also includes all of our cannabinoids that are found in the plant. We don’t want you to miss out on any of the benefits.

 

Wholesale Cannabidiol CBD in Georgetown

This is the most abundant cannabinoid in the hemp oil. It makes up 90 percent of the content of cannabinoid. It’s non-psychoactive and the focus is on how it benefits the body via the hemp oil. It has minimal affinity for CB1 or CB2 receptors. The main focus on interaction is in the endocannabinoid system and it acts as an indirect antagonist toward the cannabinoid antagonists. This, in turn, may allow the CBD to temper the high that is caused through the THC. Wholesale CBD Oil in Georgetown from Hemp Genix are over 80 percent pure and CBD makes up the majority of the Oils weight. Industry averages and nearly all of the other products with cannabinoids and brands average in at 17 to 40 percent purity.

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What’s The Difference Between CBD And CBN?

Cannabis has a number of cannabinoids in which the most abundant are the levels of THC. There are 9 tetrahydrocannabinol as well as CBD and CBN. This is the active ingredient that makes you high. The THC is in the plant and the CBD is the precursor and the CBN is the metabolite of the THC. As the cannabis ages, the THC level breaks down into the CBN.

 

This also leads researchers to believe that the CBD might give some protection against ecstasy-derived neurotoxins or long-term depletion of the serotonergic receptions. While this is still speculation, it’s investigating further. The CBD is usually present in significant enough quantities in such products as hashish or cannabis resins. However,r it’s also in the herbal cannabis referred to as skunk in smaller amounts.

Overall, the CBN is a great cannabinoid that offers up a varied range of therapeutic applications that work together with the rest of the “team” in order to offer up the best possible results. Clearly, more clinical trials are required to see how else it can benefit patients.

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Wholesale CBD Oil in Georgetown South Carolina

In 2010, Dr. Bruce Bedrick, a chiropractor from Philadelphia, sold his practice and moved to Arizona. It wasn't for the weather (he says he can't wait to move back east) and it wasn't to retire (he's still working).

He did it, like many others in his cohort, because of what's being called the "Green Rush"—a move out west to take part in one of the most exciting, risky, and (perhaps) profitable enterprises today: the medical marijuana trade.

Within a year, Bedrick set up shop in Scottsdale and launched Kind Clinics, a full-service marketing and consulting company that helps entrepreneurs open and manage dispensaries. For Bedrick, business is booming. He reports that he's already working with about 70 dispensaries, which, by his estimation, makes him the largest medical marijuana consulting company around today.

"Absolutely, people see it [as a gold rush]," Bedrick says. "But there's more to it than that. There's a bit of freedom here. There's finally an awareness for compassion. I work with oncologists, attorneys, and pharmacists. These people truly understand the benefit of the herb."

According to See Change Strategy, a think-tank that conducted an industry-wide analysis of the medical marijuana trade, the current national market for cannabis is $1.7 billion. By 2016, the market could surge to $8.9 billion. To give some perspective, that's more than the annual GDP of The Bahamas—by about a billion dollars.

"The numbers are potentially astronomical in this burgeoning new field," Bedrick says.

See Change would seem to agree. "The growing acceptance of medical marijuana is providing business operators and investors with unprecedented opportunities," the authors note. "See Change expects these markets to enjoy 99 percent growth in the next five years just in existing markets, with more than 20 potential new markets opening."

Still, there's one giant caveat to keep in mind: it's illegal. "However, investment and business development will continue to be dampened until the federal government definitively changes its position on the legality of medical marijuana," the report notes.

Although law enforcement has largely turned a blind eye to most dispensaries, the fact remains: the sale of marijuana, for any use, is considered illegal by the federal government. So if you're considering opening a medical marijuana dispensary, you'll be dealing with plenty of hurdles: regulatory, compliance, financials, as well as the quandaries any typical business owner faces, including marketing, logistics, and human capital. A few experts weigh in on how to mitigate those risks and create a sound and profitable enterprise.

Dig Deeper: Medical Marijuana Laws Leave Employers Dazed and Confused

How to Open a Medical Marijuana Dispensary: A Bit of Background

About forty years ago, Congress officially placed marijuana in Schedule I of the Controlled Substances Act. Essentially, the government concluded that the drug had a high potential for abuse. In other words, this legislation "cemented marijuana's de facto prohibition," according to See Change.

In the mid-90's, many activists began to rally around the drug's purported medicinal benefits. The Medical Marijuana Project was founded in 1995 to "increase public support for non-punitive, non-coercive marijuana policies" and to gain influence in Congress. A number of studies, both public and private, were funded to test the veracity of marijuana's medicinal worth. One such study in 1999 found that "The active ingredients in marijuana appear to be useful for treating pain, nausea and the severe weight loss associated with AIDS," according to the The New York Times.

Slowly, states began to adopt legislation to make it easier for medical marijuana to be disseminated.

"Over the past 15 years, led by California, 15 states plus the District of Columbia have adopted laws permitting some form of marijuana consumption or distribution for medical use," notes the See Change Strategy study. "These laws have been adopted by public referendums as well as legislation."

In 2009, the Obama administration ordered federal prosecutors not to prioritize legal action against medical marijuana dispensaries that comply with state laws. This controversial decision has been critical to the growth of the medical marijuana industry.

"These conditions have combined to produce the first legal marijuana markets in modern times," the authors note. "This emerging market presents unique opportunities to entrepreneurs and investors as well as unique risks."

Dig Deeper: Medical Marijuana Retailing

How to Open a Medical Marijuana Dispensary: The Challenges of the Trade

"The largest challenge that medical cannabis faces is that it is still federally illegal in the eyes of the federal government," says Kris Lotikiar, a co-author of the Medical Marijuna Markets report. "You're going to be running a criminal enterprise."

Lotikar, whose background is in renewable energy and business strategy, explains that while there's been a drastic reduction in the prosecution and raids of dispensaries, the overarching fact is that the dispensary business poses a number of difficulties for an entrepreneur, especially in raising capital, finding investors, and setting up merchant accounts with banking institutions.

Of the 300 respondents to See Change's survey, 34 percent "cite regulatory compliance, not customer demand or securing supply, as the number one challenge," while "24 percent cite securing financing as the most pressing business challenge."

There's also difficulties in the human resources department. Namely, Lotikar says, "You reduce the number of employees who are willing to work for you."

Dig Deeper: Health Care Issues

How to Open a Medical Marijuana Dispensary: Where You Can Open and What to Do

If you're planning on opening a dispensary, first check with state officials to navigate the local laws and ordinances that will govern your dispensary's actions. Because medical marijuana dispensary laws vary so much from state to state, and there's not always one department set up to govern the medical marijuana trade, Bedrick recommends that an entrepreneur should first check with the Department of Health Services as a good starting point.

Then, you'll need to go through a licensing process. Some states, like California, don't restrict the amount of dispensaries in a certain zone, unlike other states, like Delaware, that bid out dispensary licenses sparingly.  Entrepreneurs should also check with local officials on how to incorporate the business. Some states require all dispensaries to be non-profits, while others can be registered as C-Corporations.

Considering there will be quite a high degree of competition, Bedrick says any dispensary entrepreneur must have a solid business plan, ties to the community, and a squeaky clean record.

Kris Krane, another co-author of the See Change report agrees.

"The right candidate is a business-minded entrepreneur who cares about the issue and cares about doing it right, and can handle a certain degree of risk," he says. "This is an industry that is very much in its infancy, where regulations are not clearly defined. There is the threat of federal involvement, and anybody getting involved has to be comfortable with a certain degree of risk, but recognizing that the long term rewards—both in financial and social cause—can be extremely high."

Dig Deeper: How to Start a Small Business

How to Open a Medical Marijuana Dispensary: The Costs and Revenues You Can Expect

"You better be well-funded," says Bedrick. "This is not for the faint of heart."

Considering legal and consulting fees, an entrepreneur can expect to dole out between $30,000 to $100,000 just to make an application, according to Bedrick. Then, if you are granted a license, then you'll need to do a build-out, which will run you $100,000 to $300,000. After you've built the store, then you'll need the product. And if your state also allows a cultivation location, that will run you anywhere between $200,000 to $400,000.

Though it will vary widely, start-up costs average out to around a quarter of a million dollars, according to Bedrick. Kris Krane, author of the See Change report, said that some entrepreneurs paid as little as $40,000 while others paid as much as $500,000.

"For somebody wanting to start a dispensary or cultivation center, start-up costs are going to involve getting through the regulatory structure, which can be quite complicated and quite difficult," says Krane. "If someone is going to do this right, they're going to want to hire good lawyers, a good CPA, and a good consultant."

And how much can you make?

"It's a loaded question," says Bedrick. "It can be anywhere from failing to doing very well and making $100,000 a month in revenues."

Dig Deeper: 6 Questions to Ask Before Starting a Small Business


How to Open a Medical Marijuana Dispensary: The Ancillary Benefits of Opening a Dispensary

While dispensaries are the obvious business model for those looking to break into this industry, there are perhaps less obvious altenratives.

"Demand for marijuana has produced a number of business opportunities," See Change reports. "Other entrepreneurs are providing marijuana infused products including edibles, tinctures and salves. Development and sales of smoking and non-smoking paraphernalia for consumption are on the rise."

Bedrick would agree. He says that while some patients enjoy smoking the medicine, there is a considerable move and market share toward the edibles. What started out as a couple percentage points of the market share is now up to about 15 percent. Medicinal marijuana can even be made into sodas, bars, elixirs, and lozenges. "Some people just don't like smoking," he says. "This makes it easier to take."

And where there's a growing market, there's always a few creative types lurking behind the scenes.

Russell Perry, who owns Keane, a creative advertising agency in Tempe, is working on concepts to promote medical marijuana dispensaries.

"I think what's really kind of awesome for people in our industry is the opportunity that lies ahead," he says. "Unlike opening a CPA firm, where there's a preconceived notion of what that brand is supposed to look like, it seems like this is a wild-wild-west. We're on the ground floor trying to shape it. Who knows what's going to happen in 10 to 15 years."

Dig Deeper: 10 Inspiring Success Stories

DEA Green Lights Clinical Trials for Medical Marijuana

The end of marijuana prohibition is coming. But how the federal policies will change could have a dramatic effect on the nation's burgeoning legal marijuana businesses, which could fall victim to the same scourge that has hampered so many other nascent industries: regulations.

At the end of this month, the Food and Drug Administration and the Drug Enforcement Administration will announce their decision whether or not to reclassify marijuana under the Controlled Substances Act. The agencies did not give a hint as to which way they are leaning, but there are a number of moves they could take--the plant could be de-scheduled completely like alcohol or tobacco; it could remain as a Schedule I drug (it's current classification) or some of the plant's active chemicals could be rescheduled while the whole plant could remain illegal.

The real concern among those in the industry is what happens if the FDA and DEA reschedule marijuana as a Schedule II drug. FDA regulation experts say if pot is placed in the same category as legal pharmaceutical formulations of opioids like oxycodone and stimulants like amphetamine the burden of keeping up with regulatory compliance might be too costly for many of today's small marijuana companies.

"Schedule II would be a nightmare for the cannabis industry," says Andrew Ittleman, a lawyer and partner at Fuerst Ittleman David & Joseph in Miami. His firm helps companies navigate FDA's laws and regulations. 

Right now, since marijuana is classified as an illegal drug with no medical benefits, the drug's prohibition is policed by the Drug Enforcement Administration and other law enforcement agencies. But if it is reclassified as a drug with medical benefits, the FDA would lead the charge in regulating its manufacture, distribution, sale, and use.

What's more, under the Schedule II classification, every cannabis-derived product would be subject to the kind of scrutiny typically reserved for drugs like Adderall and OxyContin. If, for instance, a brand says its Cannabidiol (CBD) oil cures seizures or Tetrahydrocannabinol edibles (THC) relieve pain, the products will be targeted for testing. If the claims turn out to be unproven, that company could be charged with criminal misbranding, says Ittleman. So rather than just going back to the drawing board, a company's operators might face prison time or fines. Further, if a company's manufacturing facilities aren't up to FDA standards, the products made in those facilities would be considered an "adulterated drug," or impure and unfit for consumption, under federal law, says Ittleman.

To be sure, ensuring your products are viable and safe for consumers is a worthy endeavor. There are, after all, a great many reasons why many regulations exist in the first place. Additionally, this new classification could give marijuana something of a credibility boost--that is, it puts the drug in the same league as legal, but controlled substances that are regulated by the government, prescribed by degree-holding doctors, and dispensed by licensed pharmacists.

The trouble is, the marijuana industry as it exists today simply isn't prepared for the rigors of transforming into a pharmaceutical industry.  

If marijuana becomes a Schedule II drug, the FDA would subject companies to intense inspections and testing. Companies would need to get their packaging and labeling approved by the FDA; the Federal Trade Commission would be there to ensure companies don't sink to unfair or deceptive marketing and advertising practices. If marijuana was de-scheduled, and placed into the same category of alcohol and tobacco, it would fall under the purview of the Bureau of Alcohol, Tobacco, Firearms, and Explosives. That has its own maw of legal hoops to maneuver.

"If the FDA came out and said we are making cannabis Schedule II and the entire industry didn't change, the whole industry would be illegally trafficking a Schedule II substance," says Hank Levy, a CPA for marijuana companies, including Harborside, one of the largest dispensaries in the nation. Simply put, the industry as it stands today would not be legal under a whole set of other laws.  

"I don't see Schedule II as being any help here for the existing cannabis industry at all," says Ittleman, who notes that the changes likely open the door to big pharmaceutical companies that have the experience manufacturing Schedule II controlled substances. "This is the red carpet for Purdue Pharma and Pfizer to enter the industry," adds Ittleman.

Even so, marijuana entrepreneurs remain undeterred. The cannabis industry is a $40 billion dollar market regardless of federal law and it's not going away.

Last December at a Meetup group event in New York City called High NY, marijuana entrepreneur Steve DeAngelo, the founder of Oakland, California-based Harborside, took questions from the audience regarding the future of the industry. DeAngelo, who started as an activist in Washington, D.C., now runs a $30 million a year dispensary. DeAngelo has battled federal law enforcement to successfully avoid commercial forfeiture and is currently battling the IRS in an effort to change tax code 280e.

One audience member asked: What happens if the industry loses the war? What if a new president comes in and orders the DEA to drop out of black helicopters and arrest every entrepreneur in all 24 states where some form of the marijuana economy enjoys state law protections? What if the DEA and FDA do the same thing to marijuana as they did with opium and outlaw the actual plant and only permit pharmaceutical pills? What would the marijuana industry do if suddenly pot was only legal in pill form?

DeAngelo smiled and said the marijuana plant cannot be stopped by a government, a new president, or a cadre of agencies.

"We'll take to the hills, like we always have," said DeAngelo, explaining that farmers in northern California have been growing in the isolated foothills of the Emerald Triangle since the 1960s. "It's a plant and it can grow anywhere. The only way they can take it away from us is if we give it to them."

 


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