According to the DEA, Feds must Grow more Marijuana than Anticipated

Posted on April 21, 2015 by admin

Last year, the Drug Enforcement Administration (DEA) decided that the federal government needs to grow more cannabis. This has been true of 2015 as well. In a proposal published by the Federal Register in early April, DEA Administrator Michele Leonhart revealed that the need has increased beyond what was initially anticipated.

In August of 2014, the DEA increased the feds’ quota from 21,000 grams to 650,000 grams. Since Leonhart first signed off for the feds to produce 125,000 grams in 2015, the agency has come to realize that the research and product development involving cannabidiol (CBD) has increased beyond what was expected. The DEA is now saying that the feds should produce 400,000 grams of marijuana this year – more than three times what was anticipated.

In Leonhart’s notice, she also revealed that the DEA “has also received notification from the National Institute on Drug Abuse (NIDA) that it required additional supplies of marijuana to be manufactured in 2015 to provide for ongoing and anticipated research efforts involving marijuana.”

What has fueled this need for more research and development? There has been an increase in interest concerning CBD-rich strains of marijuana due to recent media coverage. This coverage has featured children medical cases in which the drug has been used to treat severe epilepsy. The possibility that the drug could help in such medical cases has motivated many states to pass laws allowing limited access.

If you are currently operating a business in this industry or have plans of starting one soon, you are probably already aware of how difficult it is, if not impossible, to secure funding with a traditional lending source. Despite testing on behalf of feds and the legalization of marijuana in some states, marijuana is still illegal on the federal level and classified as a Schedule I drug.

Fortunately, there are alternative options out there that can help you obtain the funding you need to continue to grow your business safely and efficiently. For example, a marijuana merchant account is an account offered by a provider that specializes in offering such services to a business considered “high risk”; such as, a business operating in the marijuana industry.

Don’t let the continued issues over the legalization and acceptance of marijuana on both the state and federal level slow down your business. Even though funding can be difficult to secure with a traditional source, take advantage of the options a marijuana merchant account can offer you and your business.

Will Legalized Marijuana be moving into the “Swing” States?

Posted on April 20, 2015 by admin

The push for the legalization of both medical and recreational marijuana has been at a crossroads for some time now. Many states have already legalized both uses of marijuana. Even more states are beginning to take steps towards doing the same.

Even so, no one expected what has happened next. Less than a year ago, research was done by 24/7 Wall St. to find out which states were likely to legalize marijuana next: Alaska, California, Maryland, Massachusetts, New Hampshire, New York, Oregon, Rhode Island and Vermont. None of the swing states – Florida, Ohio and Pennsylvania – were listed.

However, a recent Quinnipiac University Swing State Poll revealed that voters in the swing states now support the legalization of marijuana. These states are considered key since no presidential candidate has been elected since 1960 without winning at least two of the three swing states.

While this poll does not directly state the outcome, votes seem to suggest, so far, that these three states will help in the widespread push to legalize medical marijuana. The support for medical marijuana is shown in the following percentages: 84% to 15% in Ohio, 84% to 14% in Florida and 88% to 10% in Pennsylvania. The feelings on the vote for recreational use in the swing states is not as definitive.

It may come as a surprise, but the majority of swing state voters revealed that they had no intention of using marijuana for themselves, even though the support for having small amounts of marijuana for recreational use was over 50% in each of the three swing states. In light of this, it makes one wonder how much effort will go into pushing for recreational use with so few showing interest in personal use.

As the movement to legalize marijuana continues, both for medical and recreational use, more and more entrepreneurs will see opportunities. With the swing states showing interest in legalizing medical marijuana, and perhaps recreational as well, more doors are going to be opened for those who want to start businesses in these influential states. Even so, funding from traditional lending sources will remain difficult due to the illegal categorization of the substance on the federal level.

Fortunately, there are alternative funding options out there to choose from. For example, marijuana-merchant-account.com specifically offers marijuana merchant accounts. Fortunately for startups in this industry, MMA specializes in offering their services to businesses that are considered “high risk”. If you are more than interested in starting a business in this industry, take advantage of the quick, simple and hassle-free application process.

Potential Bill Could Provide Big Opportunities for Marijuana Companies

Posted on March 23, 2015 by admin

A new measure introduced to Alaska’s state legislature could potentially create opportunities for expansion minded cannabis companies in other states. This measure would ban applicants seeking a recreational cannabis license from accepting third parties.

The result of this piece of legislature would give established companies the upper hand over the smaller startups and individual entrepreneurs. This ban will make it extremely difficult for these startups and entrepreneurs who would most likely have to be entirely self-funded.

According to California cannabis attorney, Ben Adams, “Everybody except corporations that are well-funded are going to be (out of luck), because either you have the money to do this on your own, or you’re prohibited from getting investors”.

In addition, it would be a very simple task for existing companies in other states to bypass the proposed one-year residency requirement for individuals seeking licenses. As of right now, the only requirement by the state of Alaska is that the agent be a state resident while also having and maintaining a registered office. This individual could be an attorney, accountant or even a secretary. In light of this, it would be easy for out-of-state, existing companies to sweep in and take over the market.

Another hit to startups and individual entrepreneurs is that there could be a potential plant-count limit for certain cultivation license categories. However, these regulations do not include a limit for major producers – another plus for the larger organizations.

This bill makes Alaska unique in comparison to other recreational marijuana states. It includes six different license types: home grower, producer, processor, retailer, broker and boutique producer. So far, the only license with plant count limits are the boutique permits and home grow permits. Boutique producer permits would experience a limit of 50 plants, while home grow permits would have a limit of six plants.

This bill has a long journey before it becomes a law. The first scheduled hearing before the state Senate’s Judiciary Committee was set for March 5^th and can last until the 19^th of April. It will take time to see what decisions will be and what the market dynamics in Alaska are going to look like, especially for startups and individual entrepreneurs.

For those interested in opening a business in the marijuana industry, it can be very difficult if not impossible to receive funding. Why? On the federal level, marijuana is still considered a Schedule 1 substance. In light of this, traditional financial systems are hesitant or refuse to offer their services.

Fortunately, there are providers that specialize in offering high risk, marijuana merchant accounts to businesses in this situation. For example, marijuana-merchant-account.com is your online source for high risk merchant accounts, check processing and payment gateways. Take advantage of the simple application process and low rates.

Apply for a marijuana merchant account today!

Exciting Times to Be a Pot Lover

Posted on February 19, 2015 by admin

The debate as to whether or not marijuana should be classified as an illegal narcotic is no headline. It has been around for quite some time, and the advocates of both the sides have been fairly vocal. However, it wasn’t until quite recently that the debate was taken seriously, with the voices of its champions echoing the halls where our policy-making decisions are made.

What was once a strictly illegal narcotic is now allowed to be consumed, carried, grown, and sold in small amounts. These changes mark the birth of the legal marijuana industry, becoming the ray of light that pot lovers have waited for since eternity. They no longer have to watch over their shoulders every time they wish to get high. However, when it comes to exciting times, it is not just for those looking to finally get a legal taste of marijuana, but also those who might be interested in taking up the supply side. With its legalization, more people are going to want to turn to marijuana, considering they won’t be thinking about prison while doing so. With greater demand for marijuana comes the need for greater supply. This is where you can get a taste of this potentially lucrative industry.

While it does seem like a lucrative option for potential suppliers of legalized marijuana, anyone looking towards getting a piece of the supply side of this newly emerging legal marijuana industry must acquaint oneself with a major fact – your business will be treated as high risk. It doesn’t matter what argument you have to throw in favor of marijuana and its legalization, your business will be considered risk and so, increased challenges will follow. Even if you are selling medical marijuana, which is a term that refers to the use of the drug strictly for medicinal purpose, the classification of your business as high risk would remain, and so would the potential challenges that accompany this classification.

One such challenge you must be prepared to take on is getting a medical merchant processing account. Higher risk brings with itself lower willingness of merchant account processers to do business with you. These risk-averse entities would rather do with lower risk. But, this puts you into a difficult position – how do you accept credit card payments when you don’t have a merchant processing account?

This is where we come in. At marijuana-merchant-account.com, we understand your business, product, and the issues that others may not be aware of. We understand why your business needs and deserves a merchant processing account, and how we can be of help. Thus, with that in mind, we provide you, and other similar business, with top-notch medical marijuana payment processing services, which have the potential to go and become cornerstones in the future success of your business.

With us at marijuana-merchant-account.com, you can immediately start doing business, accepting credit card payments, and laying down the foundation of something great.

Marijuana industry creates new job sector with an estimated 200,000 jobs

Posted on January 29, 2015 by admin

The Marijuana industry will create an estimated 200,000 jobs by the end of 2015, with a forecasted $21 billion in revenue by the year 2020. The marijuana legalization measure passed in December 2014 will bring safety for those interested in working in the marijuana business. New employees are hired every day as the marijuana industry continues to grow.

With the new Federal spending bill that was passed, Marijuana operations are free from FDA and DEA raids as long as they abide by state laws. This is a monumental step towards more people feeling confident working in the marijuana industry. The estimated 200,000 new jobs that will be created should help the influx of college graduates and cannabis entrepreneurs looking to grow their business.

Benefits of the medical marijuana can be more widely available as more operations will be opening up throughout the legal states. The estimated $21 billion in revenue will surely bring in the much needed tax dollars. Progressive times are evident as the cultural shift towards cannabis acceptance is happening before our eyes.

The new and growing marijuana industry clearly forecast an upwards climb in sales as new grow operations have received the green light to grow without FDA or DEA interruption. Depending on the demand, the industry could actually be worth more than the estimated figures by 2020. If you are interested in getting into the industry make sure to get the proper marijuana business funding to start your business. At marijuana-merchant-account.com they can help you with all the necessary funding to buy supplies and materials to get your business up and running. With industry specific knowledge, they can help you with all your marijuana needs.

The marijuana industry is without a doubt a growing industry. California is suggested to be worth $31 billion in cannabis, which is a huge return in tax dollars. With the new marijuana bill in place, time will tell exactly how many new jobs and revenue will be created. As of now, this is the best time to revel in the new changes and the opportunities it will bring.

Medical Marijuana Industry Poised To Exceed $8 Billion by 2019

Posted on June 27, 2014 by admin

A new report published by IBISWorld Research claims that the medical marijuana industry could reach a revenue of $8.4 billion by 2019. In 2014 the revenue is projected to grow by 63.1%. Annually, the growth rate would be nearly 19%.

There are some challenges that the industry could face including state and federal regulations. Due to many state laws medical marijuana is mainly a small business operation though the industry is set to pay more than $750 million in wages making it very valuable.

As such there are many companies which will expand their operations, unveil new products and new partnerships to continue to grow in the cannabis market.

DirectView Holdings, Inc. (OTCQB: DIRV) a leading security and video technology company has created a strategic partnership with CannaPods, LLC to be the exclusive security solutions provider for CannaPod’s customizable portable cannabis grow rooms. The terms of the agreement mean that CannaPod will recommend DirectView as the vendor for its cannabis grow room environments. DirectView could then provide video surveillance, video monitoring and video recording products to CannaPods and sister company PonicPods, LLC., which makes growing environments targeted at a variety of industries including organic foods.

In regard to new products Green Cures & Botanical Distribution Inc. (OTC: GRCU) are taking steps to innovate in the cannabis and botanical industry by creating high quality hempseed oils and cannabis flower topical medicinal and botanical products. With plans to work in multiple industries including Nutritional Supplement/Dietary, Health and Wellness, Functional Beverages, Hemp and Online Marketing the company stands to gain significant sales especially in the Nutritional Supplement/Dietary industry which is evidently worth more than $31 billion in the United States. It is estimated that half of all Americans use some type of dietary supplement and 40% use nutritional ones.

MediFarm LLC, a subsidiary of Terra Tech Corp. (OTCQB: TRTC), recently obtained a special permit in Clark County, Nevada to create a medical cannabis cultivation and production facility which will allow it to expand its extensive experience in agriculture and medical cannabis growth. The company will now seek approval from the state for the proper business license to operate its facilities.

Vapor Group, Inc. (OTCQB: VPOR) is set to introduce a new line of high-end products at the Weedstock Cannabis Investor Conference in Denver. The company plans to display a new line of vaporizers including the “Vapor Box THB” which gently heats the dry herbs or oil-wax with air inside a controlled temperature heating chamber. This would vaporize without burning an herb unlike current vaporizers which use heating coils. It has been created to have a 10,000 hour lifetime.

With so much expansion in the marijuana industry the use of marijuana merchant accounts is set to grow as well as facilities look for ways to securely and effectively process payments. Payments are an important part of the industry and the facilitation of payments through a marijuana merchant account will make the process easier and more efficient.

For a Marijuana Merchant Account contact us today!

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Tag Archives: Marijuana Industry