In this episode we look at THC value accuracy, diversifying into crypto, the cuts to research, Calgary readies to sell weed at events, and on Cultivar Corner, brought to you by Up In Smoke, we’re stopping on Salt Spring for the Magis’ Black Tuna.
In this episode we look at THC value accuracy, diversifying into crypto, the cuts to research, Calgary readies to sell weed at events, and on Cultivar Corner, brought to you by Up In Smoke, we’re stopping on Salt Spring for the Magis’ Black Tuna.
00;00;01;22 - 00;00;08;29
Ian
From a studio high above the clouds of the Okanagan Valley. This is the cannabis potcast.
00;00;09;01 - 00;00;19;12
Ian
Exploring the world of Canadian cannabis culture. One toke at a time. Here is your host and Bud tender Gary Johnston.
00;00;19;14 - 00;00;35;17
Gary Johnston
And let me welcome you back to the Cannabis potcast. Thanks for coming back. I'm so happy to have you here. Maybe this is your very first visit. If it is. Well, here's an especially warm welcome for you ahead. For the next 30 or 40 minutes, we're going to be talking about a plant that I am absolutely passionate about.
00;00;35;18 - 00;01;03;16
Gary Johnston
And perhaps you have some interest as well. And that is cannabis. Now, before we get too much further, let me remind you of this podcast is intended for those of legal consumption age in your jurisdiction. It is intended purely for entertainment and perhaps educational purposes. You should always consume your cannabis responsibly. And in episode 197, we are looking at the fact that the THC values in Canadian cannabis might not be what we expect them to be.
00;01;03;18 - 00;01;30;12
Gary Johnston
Also, there is cannabis sales rising. We have more sales in the last quarter. Calgary's moving forward to offer cannabis sales at public events, and there was a B.C. company that is pivoting out of cannabis and moving into cryptocurrencies. And in addition to that, there's also another robbery that occurred in Toronto. So we've got a story on that. And uncomfortable a corner brought to you by oven smoke.
00;01;30;14 - 00;01;59;03
Gary Johnston
We're going back to Salt Spring Island, a delicious indica black tuna. All of that and more on episode 197 of the Cannabis potcast. And of course, as always, I want to thank you for being a listener. I truly appreciate the fact that you are here, and I want to thank my supporters as well. My patrons at Patreon. So thank you to Tony, Rob, Gage, Lloyd, Roger, and Justin.
00;01;59;03 - 00;02;23;02
Gary Johnston
I appreciate your support each and every time. And we of course want to recognize Tony, who's on his round the world tour. He sent me another note this last week and here he is. That message from him. Hello. Hello from Uganda. Gary. I had the chance to try some homegrown Ugandan cannabis while in country. One of my fellow backpackers was generous enough to share it with me.
00;02;23;04 - 00;02;48;14
Gary Johnston
I have to say, it was very underwhelmed. And the strain? There was very mild effects. No turbines, limonene carry off clean that we're used to in Canada. The buzz was very, very mild and dissipated very quickly. I think I'll continue my tolerance break during my time in Uganda. And he also sent me some pictures of the weed and it looked pretty dry.
00;02;48;14 - 00;03;18;03
Gary Johnston
But thanks for sharing the news, Tony. I'm glad you're enjoying your trip around the world and you're able to find some cannabis along the way. And now let's get to our first story. And this story we are picking up from 420 intel.com, and this was written by staff. Canada's pioneering cannabis data gathering program has published the results of a new study showing a shocking discrepancy between advertised and actual THC amount in its consumer market.
00;03;18;05 - 00;03;41;02
Gary Johnston
Last week, Health Canada published the results of a survey of 100 samples of both legal and illegally sourced cannabis flower, which found that nearly half of the legal samples had less than 80% of their label THC content. Canadian cannabis businesses have long cited THC. Inflation is not only a troubling and sustainable trend, but as a cause of fading revenues in their businesses.
00;03;41;05 - 00;04;17;11
Gary Johnston
In 2023, Canadian cannabis producer Organigram cited THC inflation as a meaningful contributing factor to its fall in revenues and profits impact flower sales and margins, according to the company. The industry practice of dishonestly labeling cannabis products to exaggerate THC levels was becoming more widespread, seeing consumers favor supposedly higher potency products, its CEO, Bina Goldberg said. We see that there are some licensed producers who were averaging sales of flower in the 21 to 22% range, and are now showing 28 to 32%.
00;04;17;14 - 00;04;54;15
Gary Johnston
This is not something that not even the most advanced cultivation techniques could make happen. The latest data from Health Canada has now laid bare the extent of the issue. Of the 50 legal samples examined for THC levels, heavy metals, pesticide residue, mycotoxins and microbial contaminants, 14 products had 70 to 80% of labeled THC amount. Furthermore, ten products, 20% had less than 70% of the stated THC content and only 26 products, 52% contained at least 80% of the declared THC value.
00;04;54;18 - 00;05;27;09
Gary Johnston
These discrepancies suggest that many legal cannabis products may be overestimating their potency, potentially leading to consumer dissatisfaction and improper dosing. In contrast, illegal cannabis products showed extreme variability, with THC levels ranging from under 100mg to over 250mg. The study also found higher levels of heavy metals in illegal cannabis, particularly arsenic, lead and mercury. But some metals, including copper, molybdenum and nickel, exceeded tolerance limits in both legal and illegal products.
00;05;27;15 - 00;05;59;25
Gary Johnston
Contamination was far more prevalent in illicit samples. Pesticide contamination was another stark difference between the two markets. While only two legal cannabis products contained trace pesticide residues, a staggering 94% of illegal samples tested positive for multiple pesticides, with an average of 3.4 pesticides per sample. And so there you go. Over 80% of the purported products in the Canadian market are showing less than 80% of the THC identified.
00;05;59;27 - 00;06;04;14
Gary Johnston
We gotta find a better way to do this.
00;06;04;16 - 00;06;08;20
Ian
For the cannabis infused studio in the clouds. This is the cannabis potcast.
00;06;08;22 - 00;06;37;03
Gary Johnston
And for this story we go to backhand.com. This was written by David Brown. Calgary City Council voted 8 to 6 in favor of a motion to have city staff align the city's bylaws to allow a permitting process and festival applications to allow for the sale of cannabis at minors. Prohibited events. The notice of motion was brought to council by Councilor Courtney Penner, who told councilors the goal was not to promote cannabis use but to align the city's bylaws with provincial regulation.
00;06;37;06 - 00;07;01;25
Gary Johnston
This is similar to changes made in Edmonton. In 2024, Alberta began allowing cannabis retailers to apply for a license extension for the purposes of selling cannabis at a minors prohibited entertainment event or cannabis industry trade show. Municipalities must also sign on to the change, which Edmonton did last year. What this is creating is a legal business process that is in line with legislation from the provincial government.
00;07;01;28 - 00;07;24;02
Gary Johnston
Councilor Penner told her fellow councilors before today's vote what is already happening is cannabis is being consumed at 18 plus adult only festivals at events. What this isn't is creating an open and permissive environment to use cannabis at those festivals. We already have regulations that defined where it can be used. So it's not about a puff of smoke or a waft of smoke that you're walking through.
00;07;24;05 - 00;07;43;22
Gary Johnston
It's simply about creating a safer environment for sales on site, just as we create a safe sales environment for alcohol. This is a legal substance where adults are making adult choices on what they choose to consume. This is really about regulation and policy, not about the judgment. We should be passing on people for what they choose to do as adults, she said.
00;07;43;24 - 00;08;11;14
Gary Johnston
City staff will now need to bring such proposed changes back to council for consideration at a future date. Currently, cannabis sales, an event in Calgary must be made through an order and delivery method in 2024. A Calgary cannabis retailer hosted a cannabis consumption space at the Badlands Music Festival, which included the ability to buy cannabis. Festival goers could place an order on the retailer's website, and the product would be delivered to the festival or cannabis garden.
00;08;11;16 - 00;08;21;00
Gary Johnston
So changes being made to how cannabis is accessed at adult only events. The world just keeps changing.
00;08;21;05 - 00;08;30;18
Ian
It doesn't matter how high the THC is. The entourage effect is always waiting for you here. This is the Cannabis potcast.
00;08;30;20 - 00;09;02;04
Gary Johnston
And we pick this story up from Strick Hanekom. And this was written by staff. After showing signs of slowing down, Canada's retail cannabis sales shot up to the highest level so far in December 2024, at just under half $1 billion in one month. Cannabis sales in December, at 499 million, surpassed the previous high of 475 million in August of 2024, and even exceeded the previous high of 469 million in August 2023.
00;09;02;06 - 00;09;28;16
Gary Johnston
All of these figures are known seasonally adjusted. Seasonally adjusted sales numbers were somewhat lower. Statistics Canada also adjust its numbers over time depending on data quality, and the most recent sales figures are rated as good. The lowest of three ratings for data quality. Unsurprisingly, retail sales were highest in Ontario, Canada's most populated province, followed by Alberta, British Columbia and Quebec.
00;09;28;18 - 00;09;58;20
Gary Johnston
Overall, retail sales saw a steep declines in early 2024, largely driven by declines in Ontario's reported sales figures. While declines in sales after the holiday shopping season are expected, other provinces did not show a similar decline. If past sales history is repeated. Expect significant declines in sales in January and February of 2024, so some sales were up in the last quarter, and that's always good to see.
00;09;58;23 - 00;10;19;21
Gary Johnston
In this story we're picking up from DragonCon, it was written by staff. Toronto Police Service arrested five people in connection with a cannabis to a robbery on the same day. The robbery occurred at approximately 10:36 p.m. in the Lawrence Avenue East in Birch Mountain Road area, following a suspicious incident nearby at a different cannabis store where the same men were allegedly refused entry.
00;10;19;24 - 00;10;46;22
Gary Johnston
The incidents began on Tuesday, February 18th at approximately 841, when police responded to a call about a suspicious incident at a cannabis store in the Wilson Avenue and Bathurst Street near the 401 expressway. Police allege the first five male suspects, who were traveling in a stolen Honda Civic, attended a cannabis store wearing masks to disguise the identities for the suspects, then approached the locked front door of the cannabis store and began banging on it to request entry.
00;10;46;24 - 00;11;12;18
Gary Johnston
It's further alleged that an employee observed one suspect holding a knife, so they refused to unlock the door, with the suspects fleeing the area empty handed in the awaiting stolen Honda Civic. Then, at approximately 10:36 p.m., police responded to a report of a robbery at a cannabis store in the Lawrence Avenue East and Birch Mountain Road area, where four of the same five men are said to have entered the premises armed with a knife and a mallet while making demands for cash and cannabis.
00;11;12;20 - 00;11;36;03
Gary Johnston
The men smashed several glass display cases and removed the contents. They took an employee's wallet and a quantity of cannabis products before fleeing back to the awaiting stolen Honda Civic. Uniformed officers from 41 Division say they quickly responded to the area and located the fleeing, stolen Honda Civic. A police vehicle allegedly collided with the Honda Civic, causing the civic to get stuck in a snowbank, with the suspects fleeing on foot.
00;11;36;06 - 00;11;56;01
Gary Johnston
The responding officers were able to take all five suspects into custody after a short foot pursuit. At the time of the arrest, the officers say they recovered the stolen vehicle and a quantity of the stolen cannabis. Well, I sure hope we're not going to see more of these stories in the future. Cannabis robberies? I don't like to hear about those.
00;11;56;01 - 00;12;07;08
Ian
Thc CBD terpene profiles what’s in me. Oh, please explain to me. Cultivar Corner
00;12;07;10 - 00;12;11;06
Ian
Cultivar Corner
00;12;11;06 - 00;12;15;16
Ian
Corner. Please explain this stuff to me.
00;12;15;18 - 00;12;37;19
Gary Johnston
Welcome to Cultivar Corner. Brought to you by Up in Smoke at 258 West Broadway in Vancouver. And online at It's Up in smoke.com. And once again, we're talking direct delivery specials. Now, it's interesting when we pick the cultivar which we're going to do for Cultivar Corner, we have pretty well decided what we're going to do in advance and to kind of lay it all out.
00;12;37;22 - 00;12;39;13
Gary Johnston
And then occasionally.
00;12;39;15 - 00;12;39;28
Ian
I'll pick.
00;12;39;28 - 00;12;59;00
Gary Johnston
Up some weeds. Were picked up this weed from matted up in smoke, got it sent to me this last week. And when I opened up the package and as soon as I handled one of the buds in there, I said, this has to be on calls to work order. What are we doing today? This is from Salt Spring Island.
00;12;59;02 - 00;13;09;24
Gary Johnston
Salt spring, Maggi. And this is Black Tuna. And the thing that I was most impressed with.
00;13;09;27 - 00;13;12;14
Gary Johnston
Was the sticky notes.
00;13;12;17 - 00;13;31;12
Gary Johnston
As you've heard before, whenever I do weed in I feel some stick in it. I like that that's one of the things I'm always looking for. And this is no exception. So let's cover off that again. Remember if you are 19 years of age or older and you live in BC, you can go to it's up in smoke.com.
00;13;31;14 - 00;13;49;07
Gary Johnston
You can find Black Tuna on the menu and you can have it sent to you again if you are 19 years of age or older and you live in BC. My apologies if you live in another country or province, because we still have to disappoint you in that regard. Now let's pull it out. Here's one of my first buds.
00;13;49;09 - 00;14;00;05
Gary Johnston
And as we look at the black tuna, there's a lot of darkness in the bud here. Now, the other thing that I need to point out right from the beginning is.
00;14;00;08 - 00;14;02;16
Gary Johnston
There's not a lot of details.
00;14;02;19 - 00;14;31;27
Gary Johnston
So I went to the Magi, to their website, and there's some other cultivars there, but there's nothing listed for Black Tuna. And I did some more searching. So this is what I got, which is off of the Up in Smoke menu. So this is the successful result of your hunt hunters take pride in knowing that your feedback was well received, and you can now find this beautiful fishy cookie goodness throughout BC.
00;14;32;00 - 00;14;50;08
Gary Johnston
We know you love it though, so we got it in seven, 1428 smalls and tops. And this was packaged just before Valentine's Day. And that is the fact of the truth. The package date on this one was February 11th, and I picked up 14g of this because I'd like to have some. We'd like to have enough of it.
00;14;50;10 - 00;14;57;16
Gary Johnston
And as I say, as soon as I opened up the package, this had to become a cultivar corner. I have never opened anything so.
00;14;57;16 - 00;14;58;25
Gary Johnston
Sticky to.
00;14;58;25 - 00;15;10;25
Gary Johnston
Date in my life. Let's take a look at the cultivar. Oh my goodness sakes. I just pulled up my jeweler's loop and as a spring that oh my goodness, there is some.
00;15;10;28 - 00;15;14;00
Gary Johnston
Dark, dark black and some black.
00;15;14;00 - 00;15;48;12
Gary Johnston
Black leaves in this one. And trichomes coming out. The Yingying I know that's not a technical term, but it's term that I'm using this one. My goodness sakes. Oh, now here's my difficulty. I can tell you that it is THC on. This was at 25.8% total THC. I can't tell you what the total terms were. And I also can't tell you what terps are, because none of those are listed anywhere I went.
00;15;48;12 - 00;15;54;20
Gary Johnston
As I said before, I went to the website, there's nothing about black Tune on the website, which I realized it was a fino hunt. This was a.
00;15;54;20 - 00;15;55;08
Gary Johnston
New.
00;15;55;08 - 00;16;11;16
Gary Johnston
And exciting cultivar. You're looking at, but it would be nice if it had some more details. So what you're going to get today is my interpretation of what we're picking up off of this. My first impressions of the smell.
00;16;11;19 - 00;16;13;05
Gary Johnston
Now, I can't.
00;16;13;05 - 00;16;16;02
Gary Johnston
Say I'm smelling tuna, but there is.
00;16;16;02 - 00;16;17;23
Gary Johnston
A beneficial anise.
00;16;17;26 - 00;16;36;29
Gary Johnston
To that. And the stickiness is just over the counter here. I'm taking one bud out, and I'm going to break up some of this, and I'll put this into my I've already got a joint roll. So I'm going to put this into the mighty for some vaporizer. Oh my goodness. And just as I break up these.
00;16;36;29 - 00;16;43;04
Gary Johnston
Bonds it is so sticky. Like like I'm scared to put.
00;16;43;04 - 00;17;08;13
Gary Johnston
This into my grinder because it's I'm going to have to clean up the grinder afterwards. Okay. So let's pick you up. Let's give you a sense of what I'm smelling off of this. So as I break the bud up, definitely some cushy tones. There's some, there's, it's almost like there's some, some, gas in there, too.
00;17;08;13 - 00;17;25;24
Gary Johnston
And a little bit of, perhaps some sweetness from some of the, I don't know, one of the toppings that's in there. And I don't know what other terpenes are. Beautiful fishy, cushy goodness is what we got here. And is that. Break that up, my goodness sakes. My my fingers are just.
00;17;25;24 - 00;17;28;20
Gary Johnston
Sticky, though.
00;17;28;22 - 00;18;04;23
Gary Johnston
I'm going to have to go on and wash my fingers before I handle anything else, or be too sticky to roll a joint, which is a good thing. I'm not saying this is a bad thing. So black tuna, salt spring magic, the salt spring, Maggi. We know that they're growing some really fine weed. Let's give you a sense of of who the Maggi is and a little bit more of those details now here was my first disappointment when I came onto this website, hoping I was going to see something about Black Tuna, but of course it is just so new and, recently hunted from a fino hunt.
00;18;04;26 - 00;18;31;24
Gary Johnston
And that's why they went with it. And boy was it a good choice. Magic cannabis is a small scale, family owned and operated farm located on Salt Spring Island, B.C. as a second generation craft growers with deep love for the cannabis plants we cultivate, that love is evident in the exceptional products we work hard to create. Josh and Nadine have been dedicated to growing fine cannabis since the 90s, and as we view the cannabis.
00;18;31;26 - 00;18;59;19
Gary Johnston
So I'm going to take you into a little bit more. So growing on Salt Spring by the Maggi, a small crew of growers and trimmers. Many of us are second generation cannabis producers. Our aim is a premium flower with delightful smoking experience. I'm always looking for a flower with a perfectly characterizes the great qualities of its particular variety in aroma, taste and effect, as well as a consistently smooth burn.
00;18;59;21 - 00;19;05;12
Gary Johnston
So this is small batch artisanal cannabis grown in virgin Guam for a consistent burn two.
00;19;05;12 - 00;19;06;12
I Gary Johnston
Week whole.
00;19;06;12 - 00;19;25;15
Gary Johnston
Plant cure cold here for a smooth smoked, hand trimmed dry to preserve the chirps and trichomes, and tested and pure non irradiated and always like the non irradiated. And now I have two dosing capsules. Let's drop in my first dosing capsule. And I think we'll actually start with the.
Joint.
00;19;27;00 - 00;19;38;27
Gary Johnston
And give you a hint some of the aromas that I'm picking up today. So lots there. There's definitely some gassing. Is there. Almost some some tuna. Almost kind.
Of.
00;19;39;29 - 00;19;56;16
Gary Johnston
It's not like I have opened a can of tuna and I taste it. But but there's something there. There's, there's something there that's indicating that something along that line. And let's give it a try. This is black tuna from Salt Spring Island. Maggi.
So sticky.
00;19;57;23 - 00;20;09;06
Gary Johnston
I simply had to make this a feature on Cultivar Corner.
00;20;09;08 - 00;20;41;04
Gary Johnston
Oh, that's nice and smooth. Always appreciative of that first toke that I have that I'm not coughing and that is really nice. I knew this is going to be a good purchase. Always love to pick up stuff from, it's up in smoke, or up and smoked itself and smoked. And of course, Matt sent this one to me and, always enjoying what we're picking up from Salt Spring Island.
00;20;41;07 - 00;20;46;12
Gary Johnston
Okay, so there's definitely some gassing. Is there?
00;20;46;14 - 00;20;54;05
Gary Johnston
There's almost some floral notes that I'm having trouble identifying what those florals might be.
Oh.
00;20;55;03 - 00;21;08;21
Gary Johnston
And let's take it up a step further. And let's pick up the mighty and let's see what we get out of smoking it out of the vaporizer and see if we can pick up some more taste.
Oh, yeah.
00;21;10;18 - 00;21;15;27
Gary Johnston
So definitely some gassing is there. And some of the kush tones or Kush.
Nuances.
00;21;17;05 - 00;21;39;25
Gary Johnston
That are coming out of that. And anybody who smokes a lot of kush knows that, just as you can just tell when it's cushy, it kind of has a little bit of that mixing in the background on it. Again, I don't know what your points are here. This is entirely out of my brain, and I'm hoping I'm kind of getting somewhere close to that.
00;21;39;27 - 00;21;57;28
Gary Johnston
Oh, oh, that is so now I want to pull in through the vaporizer. I'm definitely getting some gassy notes. There's some floral tones in there too. And then there's just a really nice taste as I bring that in, bring that smoke in and kind of cumulated, assimilate it and then swallow the taste.
Really delightful.
00;22;01;04 - 00;22;10;12
Gary Johnston
Okay, I'm going to put my joint I or like my joint up again.
00;22;10;15 - 00;22;29;00
Gary Johnston
Oh, that is really nice. I am hoping for an indica. This is the indication that this is an indica. This sliding down this path again, I can't be 100% certain on that, but I'll let you know when I starting to feel.
00;22;29;02 - 00;22;46;09
Gary Johnston
Oh, yeah. And I'm starting to feel some of those endocannabinoid roll in through my endocannabinoid system and firing on the THC, CB1 receptors.
Oh, I, I.
00;22;49;14 - 00;23;02;29
Gary Johnston
Don't know that I can describe with enough clarity the aromas that are coming out of here. It's a really nice weed. It's a really nice smell. And those gassy notes, they're.
Not.
00;23;03;12 - 00;23;17;28
Gary Johnston
I'm pretty sure there's some some floral notes. They're coming out of there too. And some of that cushion ism suspecting there's going to be some cursing somewhere in this turf profile.
00;23;18;01 - 00;23;30;10
Gary Johnston
Okay, so I got one more hit there. Oh my gosh. And here we go. This is this is the part of Cultivar Corner that I'm always excited by.
00;23;30;13 - 00;23;49;10
Gary Johnston
Because I've gone through the experience I've shared with you, with you my excitement at seeing the weed that I pull up and what I've got. The smell, the stickiness. My fingers are still so sticky. And then you start to feel the endocannabinoids rolling around your brain.
00;23;51;08 - 00;24;02;19
Gary Johnston
And this is the part that I absolutely love. Again, I don't have a lot to work with other than the weed that's in front of me and the taste that's going into my lungs and through my mouth.
How?
00;24;08;06 - 00;24;36;15
Gary Johnston
But I'm pretty sure if you're picking up some black tuna, you're going to be impressed. Oh, my my, my. I knew as soon as I opened the package and it picked up the first bud, and I had stickiness all over my fingers. It was definitely something we had to share. So once more, don't forget Cultivar Corner, brought to you by Up in Smoke at 258 West Broadway in Vancouver and online at It's Up in smoke.com.
00;24;36;17 - 00;25;01;18
Gary Johnston
If you are 19 years of age or older and live in BC, you can go to the online menu, pick some up and have some sent to you as well, and then you can enjoy the beautiful high that's coming out of Black Tuna. Almost. I was almost going to say magic, but it's not magic. It's the Magi and it's Black Tuna and I am having a blast.
00;25;01;18 - 00;25;02;26
Gary Johnston
This is a really nice.
I,
00;25;05;20 - 00;25;11;04
Gary Johnston
And another one and another winner from Salt Spring Island.
Black tuna.
00;25;13;22 - 00;25;26;05
Gary Johnston
Oh, I'm just going to roll with that now. You know me, and you know that even though I might have put the joint out a little while ago, I'm still having it wrapped in my endocannabinoid system.
It's it's.
00;25;27;21 - 00;25;51;00
Gary Johnston
Really nice. I am loving the way cannabis is affecting my endocannabinoid system and especially what's happening with my Black Tuna. I had never seen that black notes and black colors on the bud before. This is really nice. I am having a blast and I think I'm going to go fishing a little bit more often.
00;25;51;03 - 00;25;56;11
Ian
Sharing stories about good weed while trying good weed. This is the.
00;25;56;11 - 00;26;24;18
Gary Johnston
Cannabis potcast, and we're going to try kangkong for the next story. And this one was written by Sarah Clarke. The BC Bone Corporation has announced that it intends to complete a change of business from being a cannabis brand and supplier to an investment issuer. The company behind the cannabis brand, the BC Bun Company, which sells an array of products from flower to pre-rolls to vapes, concentrates and edibles made with inputs sourced from different cannabis producers, says the shift will bring greater value to its shareholders.
00;26;24;21 - 00;26;58;28
Gary Johnston
However, the company also emphasizes that it will continue to operate and maximize the value of its existing cannabis assets, while retaining flexibility regarding their future disposition. The company will evaluate these assets and manage them in accordance with its overall investment strategy and investment policy. As part of the change of business, the company will change its name to Digital Commodities Capital Corp and begin trading under the ticker symbol R.I.P. both of these changes remain subject to final approval, and currently the company trades on the CAC under the symbol Bcbc.
00;26;59;00 - 00;27;29;26
Gary Johnston
If the proposed change of business is successful, the company's new primary focus will be to seek returns through investments in accordance with its investment policy. By utilizing the experience and industry contacts of the board and management. Specifically, the company intends to operate as a diversified investment company with a focus on investing in digital and physical non fiat assets, businesses, and private and publicly listed entities that are involved in high growth industries with a particular focus on hard commodities, cryptocurrency and the resource sector.
00;27;29;28 - 00;27;58;23
Gary Johnston
The company may also invest in other sectors that it identifies from time to time as offering particular value. With the dollar losing purchasing power and inflation eroding wealth, we are committed to positioning our shareholders ahead of the curve, stated Braedon Sutton, CEO. By investing in precious metals, cryptocurrency like XRP in strategic stakes and resource companies, we will not only hedge against currency debasement, but also gain exposure to the critical commodities that power the digital revolution.
00;27;58;26 - 00;28;30;25
Gary Johnston
We believe this strategic shift will ensure that our shareholders have access to the assets, driving both the next monetary era and the infrastructure behind blockchain, AI and advanced technology. In its most recent quarterly report for the period ending November 30th, 2024, the company has $37,000 in revenue and $129,000 in net losses. The company's net loss over the past eight quarterly reporting periods was around $200,000 per quarter, with fluctuations due to adjustments for impairment of inventory and accounts receivable.
00;28;30;27 - 00;28;40;12
Gary Johnston
So we'll keep our eye on the BC Burn Corporation as they diversify and move into cryptocurrency.
00;28;40;14 - 00;29;17;08
Gary Johnston
And this story has an impact on a lot of us. And this is from MJ Biz daily.com. The Trump administration's plan to cut federal research funding threatens 565 ongoing experiments involving cannabis, according to an MJ daily review and interviews with scientists and academics, and the accompanying freeze of new National Institutes of Health. The NIH grant is also stymieing future research at a key moment and raising questions about the fate of marijuana rescheduling, as well as suggesting profound consequences for the regulated MJ industry.
00;29;17;10 - 00;29;47;25
Gary Johnston
The NIH announced February 7th that it would drastically reduce to no more than 15% of the amount of indirect costs, money used to cover administrative and facility related bills financed by federal research grants. Without a fully funded indirect cost. I literally cannot do my research, Angela O'Brien, a professor of psychology and neuroscience at the University of Colorado Boulder, who studied high THC cannabis as well as the use of marijuana for pain, mood and sleep, told MJ business in a phone interview.
00;29;47;27 - 00;30;19;09
Gary Johnston
Universities immediately sued to block the NIH cuts, which are now on indefinite hiatus, pending resolution of those legal challenges that forces researchers to continue to work despite the real possibility that a halt could happen at almost any time. It also creates potential for yet another long term headache for the $32 billion marijuana industry. Without reliable research, the regulated cannabis industry will be hard pressed to find allegations of marijuana's drawbacks and lawsuits alleging high potency products.
00;30;19;09 - 00;30;46;24
Gary Johnston
Severe harms the industry also might be unable to satisfactory answer questions from skeptical or hostile lawmakers who want to reverse or halt key reforms, including federal marijuana rescheduling and state level legalization. We're all very concerned because of the unpredictable nature in which things are heading, said Doctor Ziva Cooper, a professor and the director of the University of California, Los Angeles Center for Cannabis and Cannabinoids.
00;30;46;27 - 00;31;25;14
Gary Johnston
Federal dollars aren't the only funding source for cannabis projects. Some institutions, such as UCLA, also receive funding from states but set aside revenue from marijuana sales for research. However, practically speaking, most labs would struggle to function or cease altogether without NIH grants, which have been the source of much larger, generally high impact studies, Cooper said. Brian is currently the principal investigator in three cannabis related studies, including research into the drug's value in palliative care for cancer patients and its effects on older users at Brian's lab and at colleagues institutions across the country, she said.
00;31;25;14 - 00;31;50;18
Gary Johnston
The level of anxiety is higher than I've ever seen it. I have to tell you, on a scale of 1 to 10, this is a 12. We're all terrified that our work will grind to a halt, Brian added. We have almost 30 employees at our lab, and all of those people will be out of a job. In the meantime, the Trump administration has also canceled review of new study proposals, meaning any research into various stages of approval but not yet underway, are in limbo indefinitely.
00;31;50;20 - 00;32;15;17
Gary Johnston
Such disruption to cannabis related research comes despite some campaign trial signals that the Trump administration would be marijuana friendly. It also runs counter to a September plea from the National Academies of Science, engineering and Medicine for a new research agenda, including lifting restrictions imposed by the Office of National Drug Control Policy on studying marijuana legalization and its effects on public health.
00;32;15;19 - 00;32;42;19
Gary Johnston
According to the NIH database, 565 ongoing research projects with a total of $320 million in funding mentioned marijuana or cannabis in the project title or terms. Well, cannabis represents a tiny portion of the $47 billion the U.S. government spends on 60,000 distinct biomedical research projects. The ongoing ward also reflects a remarkable turnaround that's now at risk of reversal.
00;32;42;21 - 00;33;12;10
Gary Johnston
In 2012, the year voters in Colorado and Washington state approved the first adult use marijuana legalization laws in the nation. Researchers published about 1200 marijuana related studies, according to an NIH database. Many of those studies, critics note, focused on marijuana's harms. By 2021, researchers published more than 4200 marijuana related research projects, with scientists such as Brian inspired and empowered to also investigate the drug's potential benefits.
00;33;12;12 - 00;33;40;11
Gary Johnston
Over the last four years, at least under the Biden administration, there were a number of signals that NIH was very supportive of funding research dedicating to understanding the health outcomes of cannabis, whether that was therapeutic or adverse effects, UCLA's Cooper said. I think the cannabis space is just starting to get some real great momentum through NIH, added Josh Caplan, an associate professor of psychology research, behavioral neuroscience at Western Washington University.
00;33;40;13 - 00;34;03;17
Gary Johnston
Caplan said the need to understand cannabis safety profile is imperative. We're trying to understand cannabis at a high level. I would love to see that momentum continue, and I hope that's not tarnished by what's going on now. There's also reason to fear that the chaos and uncertainty swirling in the research space could affect the marijuana rescheduling process, which remains on hold while the Trump administration decides how to proceed.
00;34;03;19 - 00;34;33;02
Gary Johnston
In January, hearings before the US Drug Enforcement Administration's chief administrative law judge regarding the Biden administration's proposal to downgrade marijuana from schedule one to schedule three of the called Controlled Substances Act were put on pause pending an appeal. When or whether that appeal is heard is solely up to the DEA. During his confirmation hearings earlier this month, new Health Secretary Robert F Kennedy Jr declined to endorse those findings.
00;34;33;05 - 00;34;56;05
Gary Johnston
Some researchers say privately, the Kennedy sudden cooling on cannabis and Trump's nomination of Cole raised questions about the new administration's interest in marijuana reform. If the doors open to rescheduling pending more research being done, and if researchers impacted by these changes, then yeah, that would likely impact further discussion about cannabis rescheduling, Cooper said. We don't know. We're just unsure.
00;34;56;07 - 00;35;07;26
Gary Johnston
And boy, that's the state of the world right now. Just unsure of how the US is going to be proceeding. We'll just sit and wait.
00;35;07;29 - 00;35;27;00
Gary Johnston
Well, we've done it once more. We've reached the end of another episode of the Cannabis potcast. Thank you so much for being here. I truly appreciate the fact that you are a listener, and it is time now to get to our dad jokes, and we'll try to pick on three cards today and see where we end up. Here's the first one.
00;35;27;06 - 00;35;30;23
Gary Johnston
Do ventriloquists always tell the truth?
00;35;30;26 - 00;35;36;02
Ian
No. They lie through their teeth. I like.
00;35;36;02 - 00;35;39;24
Gary Johnston
That one. What do you call a rich elf?
00;35;39;26 - 00;35;43;00
Ian
Wealthy.
00;35;43;03 - 00;36;09;02
Gary Johnston
Okay, I'm sorry about that one. I used to have a fear of hurdles, but I got over it. Why did the man return the camouflage jacket gift he was given after he was stoned? He just couldn't see himself wearing it. And one more. What awards did the scarecrow win? Outstanding in his field. And you heard about that new pirate movie?
00;36;09;04 - 00;36;31;21
Gary Johnston
It's rated R, and there we go. If you ever have a comment on anything you hear on the Cannabis potcast, please send a note to info at Cannabis potcast.com. And if you would like to offer some additional support, you can go to buy me a coffee.com/cannabis potcast. If you like what you hear and you feel so inclined, you're welcome to buy me a doobie.
00;36;31;23 - 00;36;38;08
Gary Johnston
And from the guy in the clouds. That's it for episode 197 of the Cannabis potcast.
00;36;38;11 - 00;36;46;21
Ian
It's in the cannabis infused studio. High above the Okanagan Valley. This was the cannabis potcast.