One of the major challenges faced by the legal cannabis industry in New York is the presence of a thriving illicit market. To discuss this we have a special guest, Jason Little, the lead of the cannabis practice team at Feral Fritz. As of October 4th, the State of New York has opened up the license application window once again. This time, there are five license types available: Cultivator, Processor, Distributor, Retail Dispensary, and Micro Business. Jason Little explains the background behind this decision.

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The Latest Developments in the New York Cannabis Market

Dispensing Cannabis business knowledge beyond a million square feet of cultivation space. Blunt Business will navigate the challenges and opportunities of one of the most profitable industries on earth. Join us each episode to hear our weekly round tables and interviews with industry professionals.

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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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"Safe Harbor Financial's Strategic Success: Sundie Seefried Shares Solutions and Strategies for Cannabis Business Bliss"

Sara Gullickson, Founder and CEO from CB Advisors offers a sneak peek into her upcoming presentation at the Lucky Leaf Expo, where she will unveil strategies for executing operational plans for a successful cannabis launch in Minnesota. As the state gears up to join the ranks of legalized cannabis territories, her expertise promises to shed light on navigating this burgeoning market. We also tackle the ongoing debate surrounding the licensing process in Minnesota. With the proposed changes aiming to prioritize social equity applicants, Gullickson shares her thoughts on the merits of both merit-based scoring systems and lottery-based approaches. Drawing on her extensive experience in the industry, she offers valuable advice for businesses looking to thrive amidst these regulatory shifts. Furthermore, we explore the implications of temporary licenses and their potential impact on fostering diversity and inclusion within the industry. With Minnesota Governor Tim Walz's ambitious timeline to open dispensaries by 2025, Gullickson weighs in on the state's progress and assesses the framework laid out by the Office of Cannabis Management.

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Minnesota Adult Use Cannabis Plan Examined with Sara Gullickson

Blunt Business discusses standardizing laboratory practices in the cannabis industry for accurate testing. We welcome Breanna Neff, Founder and Chief Food Scientist at brelixi, who shares insights on vetting labs for data integrity. Breanna introduced brelixi's products like THC/CBD powders for fast-acting functional solutions in daily life. NFL-funded research on cannabinoids as pain management alternatives, with two trials approved, was discussed. Neff also detailed brelixi's customizable shakes with low sugar content and unique electrolyte blends. We discuss the importance of education, diverse perspectives, and destigmatizing cannabis was stressed for potential funding rounds, as well as future product visibility strategies and collaboration enthusiasm.

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The Latest Developments in the New York Cannabis Market

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