Our next guest is a legacy cannabis entrepreneur. Serving California and Michigan recreational cannabis markets, he is here to tell us about a recently launched cannabis brand that they say “gives customers a sweet escape in the form of aptly-named vapes, edibles, flowers, prerolls, and concentrates.” Gelato Canna Co. is not even a year old and has already landed its product line of vapes, edibles, concentrate, pre-rolls, and flowers in over 400 cannabis dispensaries throughout California and Michigan, with the bulk of its presence in the Golden State. They have yet to take a single investment dollar and hit their first million-dollar month in October at their eponymous Lake Elsinore store. A distinctive aspect of Gelato’s founders is that they followed and understood the simple laws of offer and demand. In the midst of the hype, even while they were succeeding in the vaping segment, they got into concentrates. Now, once again ahead of the curve in market trends, they circle back to the basics. They went into premium flowers, which are not what they used to be.

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Gelato Canna Co. With George Sadler

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Robert M. DiPisa from Cole Schotz discusses recent developments in the cannabis industry in New York and New Jersey, with a focus on concerns about third-party advertising leading to consumer confusion. Legal challenges such as Leafly litigation and supply chain issues due to licensing delays were discussed. Additionally, insights were shared on proposed bills for psilocybin legalization in New Jersey for medicinal purposes. Robert highlighted his firm's emphasis on serving clients in the east coast region within these markets, providing a comprehensive view of the legal landscapes impacting cannabis businesses in both states and outlining key challenges and opportunities for industry stakeholders.

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Legal Challenges in New York and New Jersey with Robert M. DiPisa

We dive into the world of investment with Will McDonough, a titan in the financial industry and co-founder of Nancan Companies, as well as Chairman and Founder of Corestone Capital. With a track record spanning across continents and sectors, McDonough's insights are invaluable. In this episode, we explore McDonough's journey through the financial industry, from managing billions at Goldman Sachs to co-founding ventures like Atlas Mara. We delve into his foray into cannabis investments, discussing the strategic moves and considerations behind portfolio entries. McDonough shares his perspectives on emerging markets, including Green Energy Metals, the EV Market, and Bitcoin, shedding light on his approach to identifying opportunities and taking calculated risks. We also explore McDonough's recent ventures into the adult beverages market with Nancan Companies. We discuss the launch of Nantucket LONGBIRD™ drinks, infused with hemp and CBD, and McDonough elaborates on the flavor profiles and the company's focus on serving the Massachusetts cannabis market. Finally, we tackle the topic of investing in cannabis, analyzing the recent performance of cannabis stocks and the potential rewards and risks associated with this volatile market.

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Navigating Diverse Markets: Investing Insights with Will McDonough

Matthew Ginder, Partner in the Cannabis Law practice group at Greenspoon Marder talks about Florida's adult use cannabis legalization, with a focus on achieving voter approval for Amendment Three in 2024. Matt Ginder and Brasco debated THC restrictions, consumption locations, and industry support, highlighting concerns about opposition from healthcare industries and the importance of strategic messaging by Smart and Safe Florida. They contrasted failed ballot initiatives with Smart and Safe's streamlined approach, addressing legislative challenges and market influence concerns. The meeting highlighted regulatory hurdles, industry influence, and the strategic lessons guiding Smart and Safe Florida's approach post-legalization, including legislative discretion, industry funding impact, public messaging strategies, and tribal involvement under Amendment Three. Compliance efforts by current operators were commended for maintaining industry standards and perception.

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Florida's Adult Use Cannabis Legalization and Amendment 3

Blunt Business welcomes Michael Wang, Co-CEO and CFO with ISPIRE, a company specializing in e-cigarettes and cannabis vaping products. Discussions included collaborations with Hidden Hills, new device launches like Switch One, and partnerships with Burna Boy. Safety measures, regulatory challenges, and quality assurance with ISO and GMP certifications were highlighted. Market trends indicated a rise in vaping products in cannabis sales, with projections of vaping reaching up to 50% of retail sales. Strategic global expansion plans were explored through partnerships outside North America. I Spire's role as an innovator in hardware design for over 400 brands without direct branding association was emphasized, showcasing their forward-thinking strategies for staying ahead in the industry.

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Vaping Safety Measures, Regulatory Challenges, and Quality Assurance with ISO and GMP

Blunt Business welcomes Sundie Seefried, CEO, Safe Harbor Financial to talk about Safe Harbor Financial's recent operations and future plans. Seefried highlights the company's successful earnings call, showcasing an 85.3% revenue increase in 2023 and strategic moves to expand services and launch new lending products. We delve into topics such as lines of credit for clients, challenges like 280E tax burdens, and the impact of rising interest rates. They explore underwriting requirements, lines of credit based on cash flow analysis, and reliability factors setting Safe Harbor Financial apart in supporting cannabis businesses. We also talk about possibilities post-280E burden relief, reinvestment options after descheduling, and market dynamics related to taxation changes affecting business growth strategies. Both parties emphasize the importance of advocacy for business integrity and compliance in the industry. Seefried's company is noted for prioritizing serving members over profit-driven motives, echoing principles of a credit union. Brasco appreciates this approach for offering better access to lending and services than traditional banks supporting cannabis businesses. Criticism is directed at government inefficiencies in managing tax revenue from the cannabis industry, with concerns about licensing fees overshadowing potential tax revenue gains. Despite legal complexities, both parties stress the importance of selecting reliable partners for sustainable business operations. The exchange concludes with plans for future communication regarding shared insights into industry practices.

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Gelato Canna Co. With George Sadler

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