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Why did you decide to step into this million dollar industry?
“Well, it’s more than a million, but … there are projections that are ranging from a few billion to $20 billion in the next few years. Arguably, CBD is nature’s medicine. But it was suppressed for decades. Hemp is not psychoactive, which means that it doesn’t get you high. And we are on a mission to bring that medicine to the public. We’re growing hemp in upstate New York. We’re licensed from the state of New York, so it’s all above board. CBD is remarkable with what it does. It literally solves all sorts of health and wellness issues. And our government pretty much banned it from our country for the last eight decades.”
Talk to us more about regulatory challenges
“Well, we’re not marijuana. It’s regulated by the state, but it is the department of agriculture and markets that is out there to see it proliferate. We don’t have the regulatory issues that pertain to marijuana. Especially on the East Coast where regulation is very tight about issuing licenses.”
So is there THC in CBD?
“There is a trace amount in there because it comes with the genetics of the plant. But we have to be less than 0.3% THC. So nobody is getting high from our stuff. But technically there is a trace amount in there.”
What are some of the therapeutic uses?
“It works very well for anti-anxiety and sleep. It is an anti-inflammatory. It helps out with various stomach issues such as Crohn’s disease or IBS. CBD and hemp extracts seem to solve a lot of issues.”
Let’s talk about the Cannabis World Congress and Business Exposition in New York City
“Last year was our official launch for our market company, and we were an exhibitor there. We are lined up to be an exhibitor there this year as well. The event is an expo floor. So people walk around, and we give samples and do events all throughout the year, too. A lot of people approach who have never tried it before but they have heard about it. People who have had trouble sleeping or who have inflammation — and these are things they’ve been carrying around for years. And in a matter of minutes, these problems melt away. It is truly transformative for a certain proportion of the people that come to our booth.”
When is it happening?
“It is happening in May. Sorry, I don’t have the exact date. But in May.”
Do you think the price of CBD will go down?
“I do believe it will. In our financial forecasts, we do have the price dropping. But the interesting thing is that I would have thought we would have seen it [drop] following the 2018 harvest. But the word in the hemp-isphere, if you may, is that the demand is actually increasing to meet the supply. So supply is going up dramatically, but so is demand. And there is talk from these really large companies like Coca-Cola that want to get involved with making CBD-infused drinks. But, to get back to the question, supply is dramatically increasing but so is demand. That may or may not help the price drop.”
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