As popularly reported, Merrill Lynch, the investment arm of Bank of America, recently leaked an equity report — “Medical cannabis has high POTential: a joint biotech & tools primer” — detailing a bullish outlook on the cannabis industry.

The 45-page report authored by Bank of America Merrill Lynch’s lead “Life Sciences Tools and Diagnostics” analyst, Derik De Bruin, along with several other in-house analysts, offers great news for investors, entrepreneurs and anyone with a financial stake in the legal cannabis industry.

The report is significant, as Merrill Lynch is arguably one of the most important investment firms in the country, and it is believed that this is the first report of its kind coming from a major Wall Street firm. It reveals extensive research and analysis across a diverse cross-section of areas coupled with an optimistic overall outlook of the industry.

On their view of the industry, Merrill Lynch stated:

The cannabis industry is poised for growth if cannabis legalization and use expand. As the cannabis industry expands, we expect to see a corresponding increase in cannabis medical research and the implementation of cannabis testing and labeling regulations, which should drive adoption and growth of life sciences tools within this market in our view.

Seth Yakatan, CEO of Kalytera, a company developing synthetic CBD to treat osteoporosis, Prader-Willi Syndrome and obesity, is enthusiastic Wall Street is taking note of the cannabis industry: “The cannabis industry continues to be looked to as one with enormous potential for growth, and this report’s development is a clear indicator that the trend isn’t going away. I’m very happy to hear that even large firms such as Merrill Lynch are taking notice of the industry in this light, and hope that others follow suit.”

Key findings of the report

Chris Goldstein, of Philly420 and PhillyNORML, was the first to report on the leaked version and offered key highlights of Merrill Lynch’s findings — culled from the reports analysis on three key areas: products, fields, and markets. Moreover, the report provides insights into the current and future legal status of cannabis, as legal issues surrounding cannabis will affect the industry’s bottom line.

More specifically, Merrill Lynch focused on the investment opportunities within “life science tools and diagnostics” — a sector within the industry that deals with lab analyses, testing and quality control.

Merrill is particularly bullish and enthusiastic about the “life science tools and diagnostics” sector, because in every state where cannabis is legal, state governments are becoming increasingly attentive to quality control issues, therefore mandating stricter attention to product consistency, quality and testing.

As the industry grows and matures, the role of these companies will no doubt become more and more important. By and large, before cannabis can be sold on the open market, it must be screened, tested and approved. 

Among other issues, a key safety concern is the use of pesticides, which has become a hot button issue. States are crafting stricter regulations around what kinds of pesticides may or may not be used by cultivators. While the report didn’t provide specific details on individual testing labs, Merrill Lynch reported that they are bullish on the sector, which they describe as “highly fragmented and rapidly evolving.”

Matt Karnes, managing partner of GreenWave Advisors — an independent New York City-based advisory and research firm whose research was cited on page 39 of Merrill’s revised report — concurs with the findings of the report: “The [Bank America Merrill Lynch] report underscores GreenWave Advisors thesis on the industry and in particular ‘lab testing’, a subset of the sector that we believe is emerging yet presents some challenges, specifically with respect to the inconsistency of regulatory frameworks, testing and reference standards which vary from state to state.”

Merrill Lynch believes the “life science tools and diagnostics” sector will be one of the most lucrative areas for cannabis investors to put their money. In fact, Merrill Lynch estimates that the market for testing equipment may very well grow to between $50 million and $100 million by 2020.

GreenWave Advisors, on the other hand, estimates the size of the market to reach $850 million by 2020. The reason for Green Wave Advisors higher estimates is that their forecast includes revenues from testing, consulting and other analytic services, while Merrill looks only at the companies who provide the tools and consumables. 

Key players in the industry

Merrill Lynch went on to identify who they believe are they key players who manufacture “life science tools” used to perform cannabis lab tests. The companies they identified include:

• Waters Corporation (NYSE: WAT): A $2 billion dollar Massachusetts-based company
• Agilent Technologies (NYSE: A): A $4 billion dollar Silicon Valley company based in Santa Clara, California.
• Thermo Fisher Scientific (NYSE: TMO): An $17 billion industry powerhouse based in Philadelphia

Merrill’s report also covers “pharma” companies developing “canna-pharma” products, including:

• GW Pharma (NASDAQ: GWPH)
• Insys Therapeutics (NASDAQ: INSY)
• Zynerba Pharmaceuticals (NASDAQ: ZYNE)

Unlike GW Pharma’s plant-derived products, both Insys Therapeutics and Zynerba are developing drugs with synthetic cannabinoids.

Silicon Valley + Wall Street = A bright future for legal cannabis

As the industry continues to blossom, more and more wealthy investors are drawn to legal cannabis, including prominent billionaire Silicon Valley investors such as Peter Thiel, Paypal founder and one of Silicon Valley’s most successful venture capitalists, and Mark Zuckerberg’s pal, Sean Parker, who founded Napster and was an early investor and co-founder of Facebook.

Conveniently, Sean Parker is also one of the key proponents and big-money backers behind California’s “adult-use” cannabis legalization efforts. Not only has Sean Parker been putting significant financial and intellectual capital behind advancing California’s legalization efforts, Parker has been trying to consolidate and unify California’s dizzying number of competing ballot initiatives.

Merrill Lynch’s report, and the increasing backing of high-visibility investors such as Parker and Thiel, is good news for the industry. Merrill Lynch is one of Wall Street’s biggest players; Parker and Thiel are two powerful Silicon Valley forces.

A reality check?

While this is great news for the industry, it’s not necessarily time to break open the champagne — or your favorite Kiva edible. The lack of regulatory consistency, unresolved banking issues, the evolving legal landscape and uncertain political climate continue to create barriers to achieve critical mass throughout the mainstream investment community.

GreenWave Advisors’ Matt Karnes is bullish, but cautiously optimistic, “While we believe this is a significant move for a ‘bulge bracket’ firm, one of the largest and most profitable multi-national investment banks in the world, to publish a detailed report on the industry, we do not expect Bank America Merrill Lynch — or any other major firm — to write extensively on the sector in the immediate future.”

Karnes continues, “We also don’t believe coverage of any of the ‘pure play’ cannabis companies will be considered. But rather, research efforts will be focused more on opportunities that are tangential, or ancillary to the industry, companies with the potential for significant market valuations and investor returns.”

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AXIM Biotechnologies, Inc. (OTC: AXIM), an innovative company focused on the research, development and production of hemp-based pharmaceutical, nutraceutical and cosmetic products with an emphasis on the well-being of their customers, announced today that it has secured the down payment on land to build a brand new, state-of-the-art facility on 6,000 square meters of land located at the industrial estate of Stichtsekant, in the city of Almere, The Netherlands. AXIM Biotech’s future high-tech factory will be located on the corner of Fort de Gagel and Fort Blauwkape.

Holding exclusive rights to the world’s first patented cannabinoid release chewing gum and, with it, plans to conduct clinical trials for pain and spasticity associated with Multiple Sclerosis (MS) set in the EU, AXIM Biotech is leading the life sciences industry with hemp-based innovations. AXIM’s focus lies in developing unique and proprietary delivery mechanisms for the introduction of cannabinoids (i.e. THC, CBD, CBG, CBN, etc.) and finding solutions for conditions for which there is currently no effective treatment including MS, spasticity, pain, Parkinson’s disease, Alzheimer’s disease/dementia, ADHD (attention deficit hyperactivity disorder), PTSD, autism, RLS (restless leg syndrome), glaucoma, IBD, IBS and Crohn’s disease.

With the first payment secured, AXIM Biotech will now begin to work with the builder and architects on detailed building and engineering plans with respect to permit applications and subsequent approvals. After the final purchase of the land, AXIM Biotech will break ground on construction.

“We are extremely grateful to the government of the province of Flevoland for allowing AXIM Biotech to establish manufacturing in Almere. The factory plans are compliant with the highest European and International standards and will produce unique pharmaceutical and nutraceutical products – all from agricultural hemp.” – Dr. George E. Anastassov, MD – Chief Executive Officer of AXIM Biotech

AXIM Biotechnologies’ state-of-the-art facility will feature a clean laboratory zone, storage areas, office and technical rooms as well as manufacturing facility furnishings. AXIM’s global manufacturing hub in Almere will have the capacity to process raw materials and manufacture the Company’s innovative hemp-based pharmaceutical, nutraceutical, and consumer products, which are all based on their own intellectual property. Project design and feasibility have begun and AXIM is targeting the completion of construction by 2017.

“This is an exciting time for life sciences as AXIM establishes a fully ‘green’ agricultural hemp-based biotech manufacturing facility. At AXIM, the hemp manufacturing byproducts will be used and result in a net negative carbon footprint that is beneficial to the environment.” – Lekhram Changoer – Chief Technical Officer of AXIM BioTech

Research shows that the industrial hemp plant can produce more than 25,000 products. Focusing on innovations in health and the environment, AXIM Biotech’s Almere facility will include manufacturing in the following product categories:

• Functional foods
• Nutraceuticals
• Pharmaceuticals
• Cosmetics
• Clean energy

Given that this facility is overseas and will be state-of-the-art, it will be interested to see how AXIM is able to impact the medical hemp markets globally and here in the United States. While completion of the facility isn’t expected until 2017, AXIM has already developed or acquired the intellectual property that could pole-vault them to the forefront of the medical hemp industry. Perhaps the most unique skew to the consumer being the time-released cannabis chewing gum, which would be the first of its kind.

What do you think about AXIM’s new facility and medical hemp development? How about the time-released cannabis gum? Join the conversation and comment below!

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Kannalife Sciences Discusses Orphan Drug Opportunity For New ‘Super CBD’ Molecule

Kannalife Sciences, Inc. has announced its intentions to pursue an orphan drug opportunity for a new ‘Super CBD’ molecule listed as KLS-13019. This new molecule is a Novel Functionalized 1,3-Benzene Diol for the treatment of Hepatic Encephalopathy (HE). HE is a brain disorder associated with individuals who have developed liver disease. KLS-13019 aims to block negative toxins from reaching the brain, a process that would represent the biggest innovation in the history of HE treatment. It is estimated that 1.5Mil people in the Unites States alone suffer from Hepatic Encephalopathy, with approximately 200,000 of them suffering from a more serious, grade three classification. Such a classification qualifies HE as an orphan (rare) disease. By developing KLS-13019, an orphan drug to treat an orphan disease, Kannalife’s new molecule can be fast tracked through the FDA’s approval process and, if approved, will be granted seven years of exclusivity, in accordance to FDA orphan drug regulations.

Who is KannaLife Sciences, Inc.?

Founded in 2010, Kannalife Sciences, Inc. is a phyto-medical company involved in the research and development of novel therapeutic agents designed to be neuroprotectants and immuno-modulators. Kannalife began their research looking to work with cannabinoids to create better and more efficient medical treatments. Kannalife chose to work primarily with CBD and, after considering the wide range of effective applications, they chose to primarily focus on the development of brain disease treatments. Kannalife is currently conducting research and development at the Pennsylvania Biotechnology Center in Doylestown, PA, for target drug candidates to treat Hepatic Encephalopathy (“HE”) and Chronic Traumatic Encephalopathy (“CTE”). HE and CTE are oxidative stress related diseases that affect cognitive and behavioral functions.

What is Hepatic Encephalopathy?

Hepatic encephalopathy, or HE, is a brain disorder that develops in some individuals with liver disease. HE is characterized by personality changes, intellectual impairment, and a depressed level of consciousness. The development of hepatic encephalopathy is explained, to some extent, by the effect of neurotoxic substances, which occurs in the setting of cirrhosis and portal hypertension. Kannalife’s newly developed, CBD-like molecule aims to stop toxic substances like these from ever reaching the brain. Successful application could mean a decrease in overall drug consumption, in addition to a healthier intestinal system, as patients suffering from HE often take ten or more prescription pills per day.

“Our pre-clinical studies using cannabidiol (CBD) as a positive control, side-by-side with KLS-13019 and other cannabidiol-like molecules of this class, reveals dramatic potency and safety improvements for this novel chemotype. Kannalife’s patent application further describes the novel chemotype useful as neuroprotective agents in the treatment of diseases associated with hepatic encephalopathy. KLS-13019 demonstrated improved oral bioavailability and CNS penetration relative to CBD and bodes well for its ability to penetrate the blood brain barrier, ameliorate brain toxicities associated with HE, and address unmet medical needs”. – Dean Petkanas, CEO of Kannalife.  

The Super CBD Goal

KLS-13019 is the official designation that has been given to this newly developed molecule. The molecule will be renamed once it has moved further down the process to becoming an FDA approved drug. This ‘Super CBD’ is ~295 times less toxic than its naturally occurring CBD counterpart. In effect, KLS-13019 blocks unwanted toxins, that directly lead to HE, from reaching the brain. Other medications designed to help treat HE encourage the patient to filter out toxins through their stomach. The overall goal of this new ‘CBD-like’ molecule is to provide a much safer and reliable method to combat HE. Currently, a patient who suffers from HE could take as many as 10 pills in a ‘cocktail’ like treatment, with each pill containing its own side effects and impact on the intestinal system. If successful, this new molecule could replace the majority of pills used to properly treat HE, creating a healthier patient.

“In 2010 we believed there was an opportunity to build upon the promising preclinical findings with CBD in HE and design a novel cannabidiol-like therapeutic agent that would have benefits in terms of therapeutic index and delivery by the oral route. Developing our New Chemical Entity via the orphan status pathway will provide advantages in terms of reduced development cost and greater exclusivity in the marketplace.” – Dean Petkanas, CEO of Kannalife.  

What is an Orphan Drug?

The FDA’s new drug application process allows for priority review as it pertains to orphan drugs designed to treat orphan diseases. Priority review is designed to expedite programs on new drug applications for serious conditions. Orphan status grants seven years exclusivity. It is estimated that there are 1.5 million sufferers of hepatic encephalopathy (HE) in the US, of which, approximately 200,000 patients suffer from overt hepatic encephalopathy (Grade 3), representing an orphan drug opportunity for a novel drug in use.

Orphan status allows the FDA to fast track the development and application of new treatments due to the smaller patient population associated with orphan diseases (also known as rare diseases). Once the new drug is approved, a seven year exclusivity period is granted to the discovering entity. Without orphan drug status, the FDA approval process is much longer and, unless a patent is filed, exclusivity is not a factor. Furthermore, because CBD is a natural substance, it is not patentable. By creating a molecule that is ‘CBD-like’, Kannalife has created a patentable product that is ~295 times less toxic than its natural CBD counterpart.

What happens next?

Kannalife Sciences, Inc. is continuing to develop and test KLS-13019 as they work towards FDA approval and the eventual market entrance of this new drug. In addition to the treatment of HE, Kannalife is using CBD to develop a treatment for CTE, a disease that is synonymous with concussions, especially pertaining to contact sports like football, and has been brought to the public’s attention by Dr. Bennett Omalu. Dr. Omalu is on the scientific advisory board at Kannalife and was the first to identify Chronic Traumatic Encephalopathy (CTE) in pro-football players.

The Hepatic Encephalopathy Market

Xifaxan®, produced by Salix Pharmaceuticals, is one of the chemical treatments that Kannalife is aiming to enhance or replace with their new drug. According to a report by Credit Suisse, Xifaxan® sales to treat Hepatic Encephalopathy accounted for roughly 70% of total Salix sales. Those sales are estimated to deliver approximately $900Mil in 2015 with estimates driving towards $1.4Bil by 2018.

Kannalife is a major investment portfolio company of Medical Marijuana, Inc. (MJNA) which owns a little over 16% of the company. For more information on Hepatic Encephalopathy click the link here.

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MJNA Defeats Project CBD’s Motions – Moves Forward $100 Million False Claims Lawsuit

Months ago, Cashinbis broke a story that Project CBD’s industry damning ‘special report’ had been confirmed false by the original testing facility in addition to third party contributions. The news release systematically broke down the inaccuracies and false propagandas that littered Project CBD’s ‘report’ and led to the biggest lawsuit in the history of the cannabis industry. Now, justice seems to be on the horizon for Medical Marijuana, Inc. as a California Superior Court has struck down Project CBD’s Anti-SLAPP motion and motion to reconsider in the ongoing court case between the two companies. It was last October when Medical Marijuana, Inc. (MJNA) announced that it had filed a $100M lawsuit against the multiple companies that had published false allegations against MJNA, its portfolio companies and their CBD hemp oil brands.

Interestingly enough, other companies in the suit, including the testing lab who had initially released the false testing report, have settled with MJNA, retracting all reports as incomplete and false. Perhaps even more interesting, Project CBD was recently caught, on camera, attempting to market and sell their own line of competing CBD products at a recent cannabis conference. It’s true what they say, ‘Slander happens in a second. Integrity happens over time’.

Court Says ‘No’ to Project CBD

The California Superior Court has now ruled twice in favor of MJNA’s lawsuit, striking down Project CBD’s Anti-SLAPP motion in addition to a motion to reconsider.  In filing the Anti-SLAPP motion, Project CBD had attempted to have Medical Marijuana, Inc.’s $100 million lawsuit dismissed on the grounds that it violated Project CBD’s right to free speech.

Public court documents show that Project CBD had argued, in their defense, that Medical Marijuana, Inc. was the equivalent of a public figure and the company was using the $100 million lawsuit to censor public discourse. Basically – You’re a public figure, so we can say whatever we want with no consequence because of free speech. Well, the court gave that a big stinky ‘Not So Fast’. Is there free speech in America? Sure. However, that speech is also free to come with consequences.

In his recent ruling, the California Superior Court judge disagreed with Project CBD’s argument and denied the Anti-SLAPP motion. In the ruling, the judge also found that Medical Marijuana, Inc. has grounds to proceed with their lawsuit against Project CBD on the grounds of Libel and False Light. So not only has Project CBD’s last ditch efforts to avoid responsibility come up short, but the judge has gone as far as to say MJNA’s case has all the merit it needs to pursue vindication.

“Unfortunately, integrity can take a great deal of time to prove. However, Medical Marijuana, Inc. is determined to see this fight through to the end and vindicate ourselves to the world.” – Dr. Stuart Titus – CEO of Medical Marijuana Inc.

Ulterior Motive?

Project CBD’s report halted the progress of not only Medical Marijuana Inc., but the entire CBD and Hemp movements. However, one of the more interesting pieces to the puzzle didn’t reveal itself until just recently. An anonymous source has provided us photographic evidence that Project CBD has released their own CBD product line, which are coincidentally in direct competition with RSHO, the product they sought to attack, and they are pushing this product at various cannabis conventions.

Is it possible that a company would slander their competitor right before releasing their own, directly competing product? Maybe. Especially if the ‘Our product is much safer’ angle is taken to market, riding the coattails of false scientific reports you have worked to propagate. Without being able to talk to Project CBD representatives, who would not be interviewed for this story, we are left to speculate that this unequivocally false ‘special report’ was simply a propaganda tool to be used as a pawn in the ‘long con’ of Project CBD and Martin Lee’s own product launch.

Project CBD Releases False Report

Last year, Project CBD released a ‘special report’, which since has been debunked, retracted and proven false. The allegations, though empty and backed by unqualified professionals and graphs, instilled doubt into the rise of CBD, a compound in cannabis that has been used to treat various conditions, including children with epilepsy.

Their report resulted in parents doubting the incredible healing effects they had already seen take place in their children. Hemp was put under vicious scrutiny and the progressive movement that sought to educate the larger community about the medicinal effects of cannabis nearly came to a hault.

Science Declared Results False

Stewart Environmental CEO David Stewart announced, months later, that the claims, produced by his company and published in the Project CBD report about RSHO containing heavy metals were unequivocally false. The company settled with MJNA and David Stewart issued a sworn, legal retraction and a video statement to that same effect.

“The Trial Court has now twice ruled that the case can proceed against Project CBD, Martin Lee and Aaron Cantu on the causes of action for Libel and False Light. While it’s unfortunate that it came to this, Medical Marijuana, Inc. intends to use all available resources to aggressively prosecute this case and proceed to trial.” – Dr. Stuart Titus – CEO of Medical Marijuana, Inc. 

The Silver Lining

Anyone who knows anything about the cannabis industry can definitively say the industry has dealt with more than its fair share of inaccurate and unjustified defamation. The saddest part of this instance is that it comes from another company within the cannabis community. However, MJNA has kept their head above water and continued down the proper path to legal vindication. Medical Marijuana Inc. could have, and perhaps would have if the industry wasn’t becoming more and more legitimized, sunk to the same level as Project CBD and hurled back false claims backed by phony research. Thankfully, for the entirety of the cannabis, CBD and hemp communities, they did not pursue this path. Instead they are acting as any other mainstream American business would, professionally and within the bounds of the American legal system. This truly shows how far the industry has come, as years ago these legal options would not have been available to this industry. We will bring you further updated coverage of this case as further legal proceedings develop.

What do you think the repercussions of this false report should be? How do you think false reporting has impacted the cannabis community as a whole? Join the conversation and comment below?

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Cutting-Edge Global Industrial Hemp-Based Biotechnology Company Brings Added Diversity in Food and Pharmaceuticals to MJNA’s Growing Investment Portfolio

Big news out of San Diego, California as Medical Marijuana, Inc. (OTC:MJNA) has acquired 14,943,650 shares of common stock and 500,000 shares of preferred stock in AXIM Biotechnologies, a cutting-edge biotechnology innovator. Stuart W. Titus, PhD, President and CEO of Medical Marijuana Inc. mentions: “We are extremely excited to announce our strategic ownership interest in AXIM Biotech and explain to MJNA’s shareholders some of the important innovations that Dr. Anastassov and the AXIM team are focused on. AXIM Biotech’s recent announcements include hemp-based innovations that provide consumers a wide variety of new options worldwide.”

What is AXIM Biotechnologies?

AXIM Biotech is a unique biotechnology company focused on global research, development and production of pharmaceutical, food, nutraceutical and cosmetic products as well as biofuels derived from cannabinoids. AXIM Biotech is focusing its efforts on unique proprietary mechanisms for the delivery of cannabinoids (e.g. CBD, CBG, etc.).

George E. Anastassov, MD, DDS, MBA and CEO of AXIM Biotech states, “AXIM is a unique hemp-derived biosciences corporation where the responsibility for environmental protection and conservation meets the passion for development of innovative biotechnological applications for problems for which there are currently no solutions.  The cannabis plant provides ample opportunity for innovative, and often revolutionary products. AXIM has realized the vast potential in oral health products based on cannabinoids, in particular CBG, and has filed intellectual property applications to protect its numerous IP (Intellectual Property).”

Why Get Involved with AXIM BioTech?

AXIM Biotech recently announced that it is the exclusive license recipient to the world’s first controlled-release cannabinoid chewing gum.  This opens two markets for product development and distribution: food with CanChew Plus® and pharmaceutical with MedChew RX™, which is undergoing clinical trials in preparation for registration with FDA and EMA.  The company also recently unveiled the world’s first oral care and cosmetic lines, ORAXIMAX™ and RENECANN™, containing cannabigerol (CBG).

The global pharmaceutical market is reported to be potentially worth nearly $1.6 trillion by 2020. AXIM Biotech intends to develop innovative pharmaceutical delivery systems and API (active pharmaceutical ingredients) for the treatment of conditions such as Parkinson’s disease, Alzheimer’s disease, ADHD (attention deficit hyperactivity disorder), PTSD, autism, spasticity, pain, RLS (restless leg syndrome), glaucoma, IBS, IBD, Crohn’s disease and more. All of these efforts are based on proprietary IP. Their drive and ambition is unparalleled in the space and they’re not settling until they change the healthcare industry for the better!

Additional markets where AXIM Biotech intends to play a significant role are:

• Nutraceutical – Global Potential $207 Billion by 2016
• Phytoplant/Botanicals – Global Current Market $83 Billion
• R&D – Drug Discovery a Global $25 Billion Market
• Alternative Energy – Global Biofuels $185.3 Billion by 2021
• Manufacturing – 16% of Global GDP and Growing

Who is behind AXIM Biotechnologies?

Leading AXIM Biotechnologies is an international executive team of highly skilled and specialized professionals. Its members are responsible for the company’s strategic initiatives and global operations. Through various committees, they oversee operations and business performance, strategy and planning, future and current product manufacturing, risk management, research and development, external affairs, and internal governance.

Dr. George E. Anastassov, MD, DDS, MBA – Chief Executive Officer

Dr. Philip A. Van Damme, DMD, MD, PhD – Chief Medical Officer

Lekhram Changoer, MSc. BSc. – Chief Technology Officer

AXIM Biotechnologies’ industry-leading advisory board is composed of world leaders in their respective fields. AXIM’s Board of Advisors provides the Company with extensive expertise.

Members of the AXIM Board of Advisors include: Professor Renger Witkamp, Professor John Zajicek, Prof. Jacques Meis, Dr. Arno Hazekamp, Warren Hutchins, and Dr. Murad A. Sunalp.

You May Have Heard of AXIM Biotech?

AXIM Biotech has been featured by media outlets including: FOX Business, MainStreet.com, MJ Freeway, Chemical & Engineering News, Dental Tribune, Pharmaceutical Commerce, Dental Products Report and MJI News.

To learn more about the company, visit AXIM Biotech’s website.

Who is Medical Marijuana, Inc?

Medical Marijuana Inc.’s goal is to be the premier hemp industry innovators, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. They strive to create awareness within the industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For more information, you can visit the company’s website at: www.MedicalMarijuanaInc.com.

What do you think about this acquisition? How about the worlds first controlled-release cannabinoid chewing gum? Join the conversation and comment below!

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The Facts

As the cannabis industry grows, it’s unfortunately simply a matter of time before facts get misconstrued, voices get tangled in the mess of presumptions, and rumors sweep across the nation as a result.

For decades, groups of activists and empowered leaders have fought to bring the negative stigma against cannabis to an end — and just as we began making headway, Project CBD released a “special report” that essentially stopped all progress and kicked us back 5 spaces on the playing board. The allegations, though empty and backed by unqualified professionals and graphs, instilled doubt into the rise of CBD, a compound in cannabis that has been used to treat various conditions, including children with epilepsy.

This “report” resulted in parents doubting the miraculous healing effects they had seen happen in their children’s eyes. It caused hemp to come under incredible scrutiny and it put a damper on this progressive movement that sought to educate the larger community about the medicinal effects of cannabis.

The Damage Done

As time has passed, podcasts have been aired, follow-up articles have been published, and interestingly enough, Project CBD has now even come out with their own competing products, Care by Design… But now, the facts, the cold hard facts have arose and the next step has been made to bring justice to Project CBD’s disastrously corrupted “special report.”

After the report was published in October 2014, Medical Marijuana, Inc. (OTC:MJNA), the company that first pioneered the space and created the CBD category, filed the largest lawsuit the cannabis industry has ever seen, with their newly appointed CEO, Stuart Titus.

The Recovery

And now, the first major update in the case has been announced: A settlement with Stewart Environmental, the environmental-testing lab that mistakenly released preliminary results on Real Scientific Hemp Oil (RSHO) that incorrectly reported that there were heavy metals present in the CBD hemp oil.

As part of the settlement, the CEO of the lab, David Stewart, released both a written and video statement in which he clarified that the claims published in the Project CBD report about RSHO containing heavy metals are unequivocally false.

The video statement paints even more of a story, detailing how Jason Cranford was mistakenly given a preliminary lab report that then ended up being posted to Facebook and falsely advertised as a final lab report. It’s moments like these where we cannot stress enough how important it is to know the facts and to take everything you ‘hear’ with a grain of rice. We are all too familiar with the ‘reefer madness’ propaganda that has placed our industry under its current stigma, so we must all remember to educate, elevate, and investigate everything we come by.

Late last night, Cashinbis also learned that Jason Cranford has also settled in the case and is set to release his version of the story in an upcoming video testimonial. Cranford was one of the participants who posted the inaccurate results from Stewart’s labs and it’s certainly the next step to ensuring that justice is served to him and all parties involved in the deterioration of the CBD movement.

The Lesson Learned

Unfortunately, the reports were posted months ago and the damage has already been done. Our next step, as an industry moving progressively forward, is to take this as a lesson and a reminder that this space is not one for mudslinging. In order to succeed and prove to the rest of the world that cannabis has medicinal benefits that can heal many, we must unite and empower each other from the inside out. This is a movement and it all lies on us as a positive collective.

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Stuart Titus: Medical Marijuana, Inc. (OTC:MJNA)

He has an undeniable enrapturing quality about him and it’s his kind of commitment to learning, expanding, and succeeding that is inspiring the industry as a whole. Yesterday, he became the newly appointed President and CEO of Medical Marijuana Inc. and we wouldn’t have been able to envision a better fit. He’s a grand thinker, an astounding listener, and he’s harnessed experience from every sector in business to be the leader he is today. Stuart Titus has been a pioneer in this space for years upon years, and now he’s situated behind the reigns to catapult this industry to the next level. And his greatest achievement? His best round in golf. Take it from the man himself and find out what it takes to follow in his footsteps.

What is the story behind your involvement with the cannabis industry?

When I first came out to California in 2004, I was amazed to see the number of successful marijuana businesses in operation and see dispensaries that were actually legal. Coming from the East Coast, this was a real eye opener for me and when I found out that there was a public company looking for investment, I immediately led myself to explore the opportunity in what I believed to be the next great business of the future. So, in March of 2009, I purchased my restricted shares from a company executive for Medical Marijuana, Inc. and became the #7 investor. We then went ahead and looked at several business opportunities and I went and explored the field by attending a few of the science and medical conferences that were going on at the time.

I was particularly fascinated with Dr. Donald Abrams, from UCSF, who was the head of the oncology research department there. His story was truly remarkable! It was after I heard him speak that I realized that there were tremendous medical benefits in the marijuana plant. Long story short, a new group came in during March 2011 and purchased Medical Marijuana Inc. and I was further introduced to industrial hemp and the beneficial cannabinoids that could be derived from it. So, I then came to see that there was not only the medicinal benefits in marijuana, but there were also, more potentially legal benefits in industrial hemp and its extracts.

It was after I heard him speak that I realized that there were tremendous medical benefits in the marijuana plant.

Unfortunately, during that time, I contracted a terrible illness playing golf called Lyme disease, a very crippling neurological disorder. In less than a week, I was practically at a state of complete physical shutdown and was nearly wheelchair bound. This went along for quite awhile and I tried everything conceivably possible. Having been in the medical field, I tried traditional medical treatment, integrative medicine treatment, pain management modalities, and nothing seemed to work until I came to try CBD-based products with which I had great success. So, with hemp-based CBD oil, I had a significant improvement and made it to recovery despite my age.

Long story short, I helped start and finance some of the companies that are in the space today, being the #7 investor in medical marijuana. I’ve helped start CannaVest (OTC:CANV) by lending funds, along with a lot of other really great companies. It’s been a great journey and there’s no greater honor than to be the President and CEO of Medical Marijuana Inc., the real ‘grand-daddy’ of publicly traded companies in this space.

What were you doing before?

Well, I’ve had a lengthy career… If you were sitting with me, you’d notice my abundance of gray hair. When I got out of college, I tried a little stint on the PGA golf circuit, but after that I decided to try something different and went to Wall Street for 11 years and worked as a bonds trader and underwriter. So, I definitely have good extensive background in that. I also worked as an institutional trader for Credit Suisse First Boston, a very well-respected investment firm. After those 11 years, I decided to switch gears and explore my fascination with the human body and its performance in physical therapy and wound up getting my PhD in British Physiotherapeutics and opened my own practice in the Carolinas. In 2004, I semi-retired and came out to California and started to explore some other alternative medical procedures and continued part-time with my physiotherapy and eventually got into venture capital starting in 2005 for a few years and worked with a few start-up companies. That’s really how I was introduced to marijuana in the first place.

What other industry might you compare the ‘green rush’ to and why?

Well, I think that the typical comparison takes us back to the time of prohibition on our alcohol industry. The beer, wine, and spirits industry is currently tremendous. I think if we look at where this industry is today and rewind that to where it was under prohibition, you’d be able to see the possible opportunity to purchase companies like Seagram’s and Jim Beam by investing in marijuana now. I’d say that there are definitely many interesting parallels between those two industries.

Others often liken how the cannabis industry today is like the gambling industry – Back when casinos where quasi-legal and there was some internet gambling going on, the Indian tribes ended up legalizing gambling and bringing Las Vegas to the rest of the country! I believe there to be some very interesting parallels in that, too. I could even continue on to mention the automobile industry and how despite it being around for so long and dominated by the big auto and big oil companies. Tesla came in and brought this new kind of technology that is changing everything about our economy and the way we do business, much like industrial hemp has the power to do.

Others often liken how the cannabis industry today is like the gambling industry – Back when casinos where quasi-legal and there was some internet gambling going on, the Indian tribes ended up legalizing gambling and bringing Las Vegas to the rest of the country!

Right now, where are you guiding your passion and energy towards?

Well, I’ve had great experience in bettering my health by taking advantage of the wellness properties of cannabinoids, as well as its associated flavonoids, terpenoids, and other ingredients that we’re not yet fully aware of. So, I certainly have a great passion for all of those! I’m also very excited about the rising of industrial hemp and the restart of this crop, the US Agriculture community, and the innovations in the healthcare industry where some are looking at cannabis potentially being a missing dietary ingredient. Dr. Robert Melamede has gone as far as saying that there is such a thing as Cannabinoid Deficiency Syndrome. So, these are definitely all things I am very passionate about. We certainly owe a lot to this plant and it’s just so hard to believe that this plant, this naturally growing plant, is still considered a controlled substance. To bring this forward and make it more readily available for people who care to experiment with it, is a really great thing. I am very passionate about being in this industry and I’m putting a lot of energy towards moving forth.

Who is a person that you consider as a role model? Maybe someone who has been a mentor to you? Why and how did this person impact your life?

Looking at the field we are in, I’d look at who I mentioned above previously, Dr. Donald Abrams, who recommends medical cannabis to a number of his cancer patients, particularly after they’ve gone through chemotherapy and radiation. He seems to think there are as many as 5 benefits that can be derived from the implementation of medical cannabis as these patients’ realm of treatment of which he’d usually have to write 5 different prescriptions for and have to be conscious of side effects and drug interactions. He believes medications can be alleviated with medical cannabis.

Dr. McAllister of California Pacific Medical Center has done some interesting work on CBD on metastatic breast cancer cells. There is a non-profit organization called, Patients Out of Time (POT), who host a lot of the medical symposiums in the industry. Al Byrne, the co-founder, COO, and Secretary-Treasurer of POT has been a great role model. His wife, Marylynn Mathre, Executive Chairman of the American Cannabis Nurses Association, so they are certainly both pioneers in our field. Also, someone to be admired of the past with his interesting innovations would be Nikolai Tesla who is an amazing individual and whose career I admire greatly.

Aside from those, I wouldn’t be able to omit mentioning Dr. Geoffrey Guy, who founded the London-based company, GW Pharmaceuticals. They’ve done some ground-breaking work on medical cannabis and have a wonderful oral spray that’s been approved in several European countries, as well as Canada. On his staff, there is Dr. John McPartland and Dr. Ethan Russo, who coined the term ‘Entourage Effect’ which essentially means that using a synthetic CBD and administering that to the patient is far inferior to administering the plant in its entire form; with all the cannabinoids, flavanoids, terpenoids, nutrients, vitamins, and minerals. They say that the full plant form extract can offer much more beneficial effects than that of the synthetic stripped-down product.

And lastly, being the President and CEO of a company, I would like to mention a contemporary of mine and a gentleman I admire who grew up playing golf in Rhode Island. His name is Jimmy Dunne and we started on Wall Street together at about the same time and he went onward to start a firm called Sandler O’Neill. Jimmy absolutely loves golf and I love everything about him. Unfortunately, his firm was on the 104th floor of the World Trade Center the day 9/11 came along and he lost everyone. He was actually out playing golf being that it was a beautiful September day and I can’t imagine the trauma he had to face that every one of his employees, every colleague of his, lost their lives that day. How he managed to survive that situation and how he managed to come back and get the firm to what it is today… my gosh – I’m sitting here with goosebumps! I have amazing admiration for him. Just the other day I saw him on TV because he apparently shot 69 at Pebble Beach and that’s pretty impressive! I’m going to have to up my game a little bit to try and compete.

What inspires you the most about this space?

This industry, this endeavor we’re involved in, is utterly in its infancy stage. The thing that’s so intriguing is that we are bringing back a natural plant into our society. This plant is one that’s been well-known long ago for its medical benefits and one that we’d partake in naturally by human instinct. By bringing this plant back, we can transform our society to being more sustainable and renewable, all while fulfilling a basic, logical need for a dietary necessity. I’ve seen so much unbelievable passion arise from people on both sides of the aisle. It’s just incredible! There’s just this crazy force field of energy; you either love it, or you hate it. I’ve never seen people divided over something so natural, but it’s probably due in part to the brainwashing we’ve all undergone for years. The fact is, that once you do the research and once you pass a certain point, there’s just no turning back. I’m just very excited to be a pioneer in this new industry and hopefully this will be a great benefit to many humans. I can’t imagine anything more fulfilling than what we strive to do every day here at MJNA, General Hemp, and all the other companies I’ve been involved in.

Tell me about an esteemed achievement of yours.

Well, within this space, I’ve been the founder of many great companies, but I’m most proud of my involvement with General Hemp, which I always consider to be my ‘favorite pet’. General Hemp’s parent company would perhaps be the CannaVest (OTC:CANV) and so getting that established and being the principle investor back in 2012 was a great feat. A couple of ‘cousins’ I’m particularly fond of would be Kannalife Sciences with their CEO being Dean Petkanas; I’ve been very honored to be on their board of directors. And certainly, Axiom Biotechnologies, Kannaway, and Cannalink are all up-and-coming companies I am proud of. Of course, MJNA is the ‘grand-daddy’ of them all and it’s been my most esteemed achievement to be part of this space as a whole.

Outside of the space, I was very proud of eventually rising to the position of Vice President at Credit Suisse First Boston. Of course, I’m proud of my PhD degree, but honestly, looking back on everything, I think that one of my greatest accomplishments was my best round of golf, which was a 64, and my best round in competition which was 65, and although I didn’t quite reach the PGA tour, I am still pretty proud of the career I’ve had.

Where do your great ideas come from?

Well, I believe great ideas come from a great environment. If you start working with like-minded people in a good, positive atmosphere, great things happen. Often, some good ideas come from dreams or on the golf course, or while you’re engaged in other spiritually uplifting activities. I’d say I’m a strong believer in what Dr. Candace Pert has described in her book, The Molecules of Emotion. She was actually the doctor who discovered the opiate receptor in the human brain and yet she was able to articulate and relate her incredible work back to normal human experience. She wrote, if you’re happy all the time, you’re brain will start to produce beneficial neurotransmitters, which will then run our bodies in a very healthy and efficient manner. However, if one remains sad and continually depressed all the time, then harmful neurotransmitters will govern us and cause adverse health consequences in our bodies. So, never underestimate positive emotions and a positive environment on your health, well-being, and creativity.

If you start working with like-minded people in a good, positive atmosphere, great things happen.

There’s a very famous blood microscopic analysis healthcare specialist who once said, “The real factors affecting us, positively or negatively, are diet, chemicals, radiation, and emotion. And probably emotions rank at 50% of the entire equation.” I also would say, in addition to this, I tend to be a very good listener – I was created with two ears and one mouth in that proportion. I always try to be effective in my interaction with others, but I certainly spend time to try and gain knowledge on areas that interest me.

What are you doing to ensure you continue to grow and develop as a leader in this space?

First and foremost, I take CBD and hemp oil daily. I surround myself with young folks and hopefully will lead them by example. I try and do some outside extracurricular activities to de-stress. I love to play golf, it’s a great diversion and keeps me young. I do a lot of electro-physiotherapy, I work on myself a little bit, I love to get acupuncture, I work out at the gym, hike with friends… I’m not doing too much of it nowadays, but I would love to get back into doing yoga and Pilates again, too. I practice what is called intermittent fasting and I love to read Dr. Mercola. I love interaction with knowledgeable professionals in their given sector and hopefully, by continuing my thirst for knowledge, I will remain young and continue to be an effective leader.

What is important to you – mission, vision, or core values? Why?

I’d say all are important, but to me, if I had to choose a hierarchy, I’d say vision. Vision is the fuel from which the mission and core values derive. Vision is the horizon and when you love what you do, it’s really not work at all! As far as my mission, I’d say it’s bringing cannabis out of the garage, the backroom, and the warehouse.  Bringing cannabis to the drug store to legitimize this amazingly beneficial plant. I have a great personal vision to witness, in my lifetime, the rescheduling of this plant to exonerate it and hopefully begin to rewrite history books to include the proven medicinal benefits that we’re certainly seeing throughout the world these days. If you ask me about core values, I try to be honest, forthright, do the best I can, live with integrity, and remain focused and committed on achievement.

Vision is the fuel from which the mission and core values derive. Vision is the horizon and when you love what you do, it’s really not work at all!

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

Looking at this industry a year from now, I’d say we’ll likely be getting a lot more press and attention than we’re even already getting now! Hemp itself is a hot topic. Medical Marijuana is an unbelievably hot topic and it’s getting a lot of media coverage. Hopefully, by this time next year, we’ll have planted the largest springtime crop of hemp in America, perhaps the largest crop since the Hemp for Victory campaign during WWII. I’m very excited about the Green Rush and taking part in that.

Within a year, we could definitely be seeing some other very dramatic changes. There is all kinds of cannabis legislation going on across the country. In Florida, 58% of the voters voted for medical cannabis and it didn’t pass, but the legislation this year is looking to go ahead and pass that. There are so many other states that are looking to legalize for recreational purposes as well. It’s not a question of if this plant is going to become federally legal… The real question is: How soon? I think that’s what we’re looking at right now. Certainly, a year from now, we could have a tremendously different outlook than we have today.

Our success in developing these medicines also plays a role in educating those who still believe that cannabis is not medicinal. America is supposed to be ahead of the curve; We are supposed to be the epitome of innovation, but countries like Israel and Brazil are the ones who are really taking that lead from us in terms of development in these areas and we’ve fallen woefully behind in respecting cannabinoid-based therapeutics. We need to educate our marketplace and why that is important is because that is what will open doors for our industry; We will be able to weigh into Congress, we will be able to attract more professionals to the field of research and development of cannabis, and one day, we will be able to create cures! There is this stigma on cannabis that it’s the devil’s plant, that it’s poison, but by bringing forth evidence from a scientific perspective, we can bridge the gap of what people think about cannabis and what it really is.

Describe your work ethic to me in one word.

Relentless.

What does a typical work day look like for you in your business?

We’re a small, tight, lean organization. Tom and I are each handling multiple disciplines right now; We are in the middle of five or six different projects at any given time; I don’t clock in and punch out, it doesn’t work that way. I could be up as early as 5am EST talking to a business partner in Japan, I could up as late as 2am in the morning talking to a business partner in Europe. There is no clock variable that applies to work performance in the company and everyone in Kannalife Sciences has this same work ethic.

How do you find inspiration in this industry? What have you found that has inspired you?

Others who are like-minded in the space like our first round financiers, Medical Marijuana, Inc. (OTC:MJNA) and guys like Mike Llamas who works harder than anybody I’ve ever met in my life and who has inspired me to continue to pick up the fight to bring medicine into the market. Their support and the support of everyone else at Hemp Meds who are all as equally dedicated to bringing forth cannabis medicine to a community that so desperately needs it, is inspiring! Building the bridge of knowledge for our industry is going to open up a lot of doors and that’s inspiring. And of course, those who are in the inner circle of Kannalife Sciences; our scientific team, our board of advisors, the families that are out there doing their job lobbying to legislature are all the kind of people who share our vision and inspire me.

Tell me about an esteemed achievement of yours.

An esteemed achievement to me is every day I walk a straight line. Every day, I give glory to God for giving me the opportunity to be in the position that I am in and everything in between. I’ve been the co-inventor to patents, I’ve been involved in taking an anti-cancer drug company public, and the one that I like to note is when I took some college kid deep with a 95mph fast ball! I think it’s a day to day thing: Every day that you wake up to move one step further to fulfilling God’s purpose in your life to approve the lives of others is an esteemed achievement to me.

I’ll tell you one more thing that’s very important to understanding this day to day perspective on achievement. Years ago, when I was in a transitional period in my life, I was on a ‘homeric odyssey’ for 12 years and had lost everything; I was face down, had lost my home and my marriage, and I thank God that she is still my best friend. At that time, I offered to teach at my church; they had some transitional students that they didn’t want to send to public school, so I setup a syllabus and curriculum for constitutional law and economics, a very foreign subject, but something I believed would be give high school students some sort of college mentality. That was years ago, but I learned that 2 of those students that I taught had continued on to pursue law school. When you have that kind of an impact, you feel validated in knowing that those small daily movements and achievements really make a difference. At that present moment, you don’t know what’s going to come from it, but it’s what happens later that is the major impact!

Every day that you wake up to move one step further to fulfilling God’s purpose in your life to approve the lives of others is an esteemed achievement to me.

How would you advise someone who wants to join the industry?

First, I think that you should find the area that you want to focus on and know that there so many to choose from! This industry gives life to many different elements: Retail, wholesale, agriculture, technology, research, quantitative, pharmaceutical, media… I would say to that curious entrepreneur that they need to find what their talent is that will allow them to do what they love to do every day and apply it to this industry and make sure that it’s commercially viable.

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

Now, that’s an interesting question because you’re asking me to look into a crystal ball. If we’re sitting across from each other, that probably means that is it’s a restaurant table and we might be drinking either vodka or tequila, maybe toasting to our mutual successes and looking ahead to how this country is going to embrace a new social dynamic as it did when it repealed prohibition in 1933. What I’m saying is, that it’s safe to say that within the year, marijuana will be removed as a Schedule I controlled-substance and be subject to the same regulation and control on distribution that alcohol has in the marketplace. I originally chose March 24, 2016 two years ago and I’ll stick to that date. It’s either going to be the Supreme Court or it’s going to be Congress. To further note and back up to when we were talking about the paper I wrote on Gonzales vs. Oregon, it’s clear that there’s going to be a juggling act between the branches of government. It’s just a matter of who gets there first, who makes the first move.

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