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 Bluffton, 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.
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 Bluffton. 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.
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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 Bluffton 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.
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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With medical marijuana legal in 23 states and Washington, D.C, there are now millions of card-carrying cannabis users working at companies across the U.S. But pot is still illegal under federal law, and many business owners still subscribe to the plant's Reefer Madness stigma and don't want to allow people to smoke on the job. For some of those owners, that can mean getting sued for failing to accommodate an employee who has a medical condition.
Regardless of how you feel about marijuana, there are certain rules employees and employers need to follow when it comes to drugs in the workplace. If you make a mistake, you could find yourself in court. Todd Wulffson, a partner at California-based employment and labor law firm Carothers DiSante & Freudenberger, is one of the many lawyers who have been busy defending employers in these types of cases. Wulffson says that to protect your business you need to update your employment policies and human resources programs, and train all managers.
First, you need to be familiar with the laws that have been passed in your state and consider a drug policy that doesn't prohibit employees from using cannabis on their own time. With 86 percent of Americans supporting medical marijuana, an overly restrictive policy may chase some of your workers to another employer. Marijuana, while still classified as a Schedule I drug without medical use, does have medical benefits, and a bipartisan bill to make medical marijuana legal on the federal level has been introduced in the Senate.
Until then, you need to take steps to avoid becoming a target of an employee lawsuit (whether the employee would have a strong case or not). "There are four scenarios that play out in these types of lawsuits that I see over and over again," Wulffson says. See the details below to find out what moves your company should make in each case.
1. Innocent inquiry
The first scenario is when an employee or an applicant innocently asks the question "'I just wanted to know, would you accommodate my use of medical marijuana?'" "That's a loaded question because you have to accommodate the underlying disability of the medical condition," Wulffson says. "But you don't have to accommodate being stoned at work."
If the query is put to the human resources department, the HR person should tell the employee that the company will accommodate his condition. At the same time, the employee should explain his condition, the treatment, and exactly what kind of accommodation he needs so you can have a dialogue about it. Where most companies falter is when a manager doesn't know the company policy and speaks out of turn.
"If an employee asks a line manager, they could easily say, 'Hell no! We don't accommodate stoners! You can't be stoned at work!'" Then the employee says, "Gee, I got glaucoma and I was hoping you'd accommodate my condition." If the manager doesn't tell the employee to go talk to HR and fires them, Wulffson warns, the result may be a lawsuit.
2. An ill employee stoned at work
The second scenario, Wulffson says, is when an employee with a serious disease is under the influence at work and gets called on the carpet: "The employee will say, 'I am getting treated for cancer and I am going through chemo. The only thing that helps is medical marijuana and I had to smoke a bowl at lunch to keep from throwing up. I am really sorry, I'll do something light until it wears off.'" Wulffson says that although you may have sympathy for the employee's situation, the only way to protect yourself from litigation is to institute a zero-tolerance policy for the use of any drugs, including medical marijuana, while at work.
Keep in mind, however, that if you are in a state that mandates employers accommodate medical marijuana (i.e., Arizona, Delaware, or Minnesota) you cannot fire a medical marijuana card-holding employee for a positive marijuana test. While it is indeed advisable to have a drug policy prohibiting marijuana use during work hours, you don't need to know about what employees are doing on their own time.
3. The future smoker
Wulffson says he's currently representing three clients who are in this situation: The employee comes to you and says she's suffering from anxiety or glaucom and needs to deal with the symptoms. She tells you she's about to go outside, walk 50 feet away from the building, smoke, and come back. "They're telling you they're going to do it, but they are not stoned right now, so you don't have the right to fire them right now," he says. "But, invariably, the manager says, 'No, no, no, no. Go home, stay home, you're fired.'"
Wulffson says you should not allow the employee to smoke while at work, but you can make allowances. Say something like this: "We will reasonably accommodate your condition, but we cannot allow you to be under the influence while on the clock--it's too risky for the company. You can go home for the rest of the day and come back tomorrow."
4. Social media smokers
Here, an employee goes on Facebook or Twitter and sees pictures of an applicant smoking a joint. The employee then emails the hiring manager to discourage him from hiring the person. When the candidate finds out you saw the photos, Wulffson says, "that's when they claim you didn't hire them because of either a perceived disability" and/or because you don't want to provide an accommodation for them.
You might find this is frivolous, but there are lawyers out there looking to cash in. "There is a cottage industry of lawyers that do nothing but bring claims related to medical marijuana against employers," Wulffson says. "Google 'medical marijuana rights' and you'll find 50 lawyers who write well-written letters about how you didn't accommodate the employee and you're getting sued for hundreds of millions of dollars, but today they'll take $15,000 to go away."
Wulffson says these lawsuits are catching a lot of employers off guard because of the confusion over medical marijuana laws. "It may be legal in many states, but it's still a federal crime," he says. California and other states will not prosecute someone with a medical card who is carrying less than a certain amount, but that's not a blanket permission. "You can't go on federal property, you can't work for a federal employer," he says. "'Don't work for a federal contractor because you could be fired and maybe jailed."
When it comes to drug use at work--whether it is an employee with cancer smoking marijuana or one popping Xanax to deal with anxiety--Wulffson suggests you should adopt a simple, straightforward company policy that reads something like this: "We don't allow the use of, the possession, or being under the influence of any illegal drug in the workplace. 'Illegal drug' is defined as 'the abuse of over-the-counter medication, prescription medication, medical marijuana, and alcohol."
Additionally, Wulffson says, make sure you train all of your managers to answer questions. "If anything from any employee looks, sounds, or smells like they have a medical condition or medical marijuana issue, refer them to HR," he says. "The biggest issue I see is that companies don't get the word out and the line managers say and do things that get the company sued."
How To Manage Cash Flow
Editor's note: This article is part of Inc.'s 2015 Best Industries report.
In the beginning, Pete Williams grew medical marijuana in his basement. He grew strains with names like White Widow and Sour Diesel, and it was good. Eventually, Pete's older brother Andy joined him and the business soon became too big for the basement. Five years later, Medicine Man is one of the largest and most successful cannabis dispensaries in the state of Colorado. With two retail locations, one in Denver and the other in Aurora, the company produced 7,000 pounds of pot and made $8 million in revenue in 2014.
The Williams brothers--along with their sister, Sally Vander Veer, who helped with Medicine Man's launch and came on as CFO in 2013--are one of the many success stories in Colorado's $1.5 billion legal weed industry. According to a report by Convergex Group, the state's 300 licensed marijuana businesses generated $350 million in revenue in 2014, a figure that's expected to grow by 20 percent this year.
Out of the basement.
In 2008, the recession crippled Pete's custom tile business. After 18 years of marriage, he and his wife got divorced, and he needed to make money to support his two children. A friend gave him 16 pot plants, each one small enough to fit inside a Dixie cup, and told him there's good money in "caregiving," or growing weed for medical patients. A born tinkerer, Pete built a complex grow system incorporating hydroponics and aeroponics techniques. That first year, he made $100,000 out of his basement selling to dispensaries.
President Obama declared state-legalized medical cannabis a "low priority" for law enforcement the following year. That's when Andy came down to the basement with a plan. "I'll be the businessman and you be the green thumb," Andy, now the president and chief executive of Medicine Man, remembers telling Pete.
With a loan of just over a half-million dollars from their mother, the brothers leased a 20,000-square-foot space in a warehouse in Denver's Montbello neighborhood and built a state-of-the-art hydroponics-based system. At that time, the brothers were selling wholesale, but in December 2010 a new law was enacted requiring cannabis growers to sell their product directly to customers. Andy and Pete built a dispensary in the front of the warehouse and ceased their wholesale business.
By 2013 Medicine Man was able to buy the warehouse and had generated $4 million in revenue. But with the legalization of recreational marijuana on the horizon, Andy knew the company needed to raise more money to expand their grow facility and up production in preparation for a spate of new customers. He pitched cannabis angel investor network ArcView Group in California and secured $1.6 million in funding.
"Andy was the right entrepreneur at the right time for an investment opportunity. At the end of the day, it's clear Andy thought all the way through the pieces of the puzzle," says ArcView CEO Troy Dayton. (Neither Dayton nor ArcView is a Medicine Man investor.) "In a nascent industry, companies get traction not only when they are early but when they are a great business and composed of great people--Andy has both."
On January 1, 2014, the first day sales of recreational marijuana were officially legal, Medicine Man sold 15 pounds of pot and made close to $100,000. Meanwhile Pete, Andy, and Sally have been looking ahead to a day when cannabis becomes legal nationwide. To ensure another revenue stream, the trio created Medicine Man Technologies, a consulting firm that offers turnkey packages to entrepreneurs who want to start pot business. Medicine Man Technologies, which has helped clients build medical facilities in New York, Illinois, Florida, and Nevada, will become a publicly traded company on the over-the-counter market this summer.
The challenges of being a potpreneur.
In spite of the safe haven Colorado has created, pot businesses still face at least two major hurdles: First, until major banks decide it's safe to bring on marijuana clients, the businesses must deal exclusively in cash. Medicine Man, which says it brought in $50,000 a day in December, has had to invest heavily in security measures. Its two locations are equipped with a total of more than 100 cameras trained inside and out, as well as bulletproof glass and doors. The company has also hired security company Blue Line Protection Group to supply armed guards for the dispensaries and warehouses, and armored trucks to run money from the safe to pay bills, the government, and vendors.
Cannabusinesses also face extremely high taxes, in some cases exceeding 50 percent. But thanks to Pete's super-efficient grow operation, which produces a gram of marijuana for the comparatively low cost of $2.50, Medicine Man has been able to slash prices for the customer while staying profitable--so even after the state takes its cut, the company's margins are 30 to 40 percent, Sally says.
It's easy to look at the Williamses, or watch them on MSNBC's reality show Pot Barons of Colorado, and believe they have the life. The trio seem to be sitting on top of the Mile High City's legal weed industry, but they didn't get up there without personal sacrifice. For example, Andy's decision to give up a stable job to launch Medicine Man cost him his marriage.
"One thing people don't understand is that the entrepreneurs who started the industry in Denver are pioneers in the truest sense. What it takes to be a pioneer is vision, the ability to see something, and the courage to go after it despite the risks," he says. "The risks weren't just about money--they were about our reputations, our freedom, and our families. People risked everything for it."
After years of dealing with all those risks and sacrifices, the Williamses now say they're ready to put their feet up and enjoy the rewards of building the "Costco of marijuana." The siblings are currently in talks with private equity firms regarding an acquisition. They put the current value of the 80-employee business at $30 million, and say it will bring in $15 to $18 million in revenue in 2015.
"We began this whole thing with an end game in mind," Pete says. "We're all in our late 40s and we don't want to work for the rest of our lives."
He adds that they're willing to sell their majority stake, but they'd like to hang on to 5 to 10 percent. "If we don't sell out, [an acquiring company] will buy our biggest competitor," he says. "If we hook up with the right people, Medicine Man can be a household name like Pepsi or Coke. [People will say,] 'Go get me a pack a Medicine Mans, honey.'"