Could America Have a French-Style Revolution?

Could America Have a French-Style Revolution?

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Combine all these factors and the result is a potentially volatile mixture awaiting a catalyst.

In the past, I reckoned the odds of America experiencing a revolution akin to France 1789 were low due to the different political, economic and cultural conditions present then and now, but recently I’ve considered the possibility that America’s extremes of wealth, income and power inequality are a powder keg awaiting ignition.

By French-Style Revolution I don’t mean a violent overthrow of the ruling elite as much as a tumultuous reset of how resources and power are distributed. Systems become vulnerable to such resets when they become highly asymmetrical in how they distribute resources and power, and rigid in their defense of the extreme inequality of the distribution.

The fundamental source of democracy’s stability is the dynamic competition of various interests and the dynamic equilibrium of the three branches of the state each balancing the others by restraining the dominance of any one branch or interest.

But extremes of inequality undermine this stability, as the wealthiest elites now bring such a preponderance of wealth to bear that each of the three branches of the state are now beholden to the interests of the few, leaving little recourse to the many.

When the agenda and narratives have been shaped by the wealthiest elites’ foundations, think tanks, corporate PR and lobbyists, then electing different representatives has little effect on the power structure.

The masses can still influence cultural / social policies by voting in a liberal or conservative slate, but the distribution of wealth, power and resources remains unchanged.

As wealth and power are concentrated into ever fewer hands, the mythology of broad-based access to prosperity has vastly expanded the pool of second-tier elites who feel entitled (via implicit promises made by the system) to their fair share of income, wealth and power–financial security and political agency, i.e. a say in public decisions.

These second-tier elites are primarily university graduates and the offspring of upper-middle class households who have been led to expect a secure slot in the upper reaches of the economy or state is a birthright gained by their education and class.

That there are no longer enough slots for this class means those left out constitute the raw material of a potently dissatisfied and potentially angry political class. Historian Peter Turchin presents this as the result of the overproduction of elites, a dynamic he has traced back to previous eras of tumultuous upheaval.

Another common factor driving the masses to revolt is when the essentials of life are no longer affordable or available in sufficient quantity. Historian David Hackett Fischer has documented the perilous impact of inflation, i.e. the collapse of the purchasing power of wages.

Yet another potentially explosive factor is the supreme confidence of the wealthiest elites that the system they rule could ever turn against them or crumble beneath their feet–in a word, a hubris as extreme as their wealth and power. The resignation of the masses and the ease of distracting them with ginned-up controversies and crises and consumerist novelties has fed elite confidence that their supremacy is unassailable.

This hubris leads to the elite becoming tone-deaf to their own excesses and the instability their excesses are generating within the system, an instability that’s currently hidden beneath the resignation and distraction of the masses and the mute frustration of the second-tier elites facing lifetimes of insecurity.

Another factor is the promises made by the state generations ago can no longer be met without creating new money on a scale that guarantees destabilizing inflation. This new money is issued as Treasury bonds which are purchased for income by the wealthy, further exacerbating wealth and income inequality.

The power elite are incapable of demanding sacrifices of the wealthy as the prime directive of the status quo is to defend the current asymmetry of wealth and power. This undermines the collective consensus needed to take the collective action needed to reset the system.

Combine all these factors and the result is a potentially volatile mixture awaiting a catalyst. The confidence of the status quo that it is essentially omnipotent (the Federal Reserve will always save us, etc.) and eternal is itself a factor in the mix.

The key factor is the rigidity or flexibility of the power structure. If the structure is incapable of resetting to a more flexible, symmetric distribution of power as resources, it will come apart as pressures mount.

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”This hubris leads to the elite becoming tone-deaf to their own excesses and the instability their excesses

are generating within the system”

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Announcing Grow Up Toronto 2024

Announcing Grow Up Toronto 2024

FOR IMMEDIATE RELEASE

Grow Up Toronto 2024: Canada’s Premier Cannabis Industry Event Arrives in Toronto

Toronto, ON – December 15, 2023 – Get ready, Toronto! The highly-anticipated Grow Up Conference and Expo is making its return to Ontario. From May 27th to 29th, 2024, the Delta Hotels Toronto Airport & Conference Centre will host Grow Up Toronto 2024, Canada’s leading cannabis industry event, bringing a wealth of opportunities to Toronto’s cannabis community.

In a significant move, this marks Grow Up’s first venture into Toronto, a city recognized for its pivotal role in Canada’s cannabis landscape.

Inaugural Event: Grow Up’s First Executive Summit
Date: May 27, 2024

We’re thrilled to introduce the Grow Up Executive Summit, an exclusive one-day gathering that promises to be a pivotal moment for the industry. This summit brings together influential voices and industry leaders for insightful discussions and strategic networking.

What to Expect at Grow Up Toronto 2024:
This year, we’re bringing in hundreds of retail buyers, offering them a unique opportunity to sample products from hundreds of brands. This groundbreaking approach directly connects producers with retail purchasers, making it a must-attend event for both.

Grow Up Toronto 2024 showcases:

  • Industry Conference and Tradeshow: Dive into the latest cannabis trends, technologies, and opportunities.
  • Brands and Buyers Zone: Connect with licensed producers and retail buyers.
  • Speed Networking: Forge valuable relationships in a dynamic setting.
  • Sampling: Experience the finest cannabis products available.
  • Grow Up Awards: Recognizing excellence in the cannabis sector.
  • Consumption Lounge: Unwind and network in a relaxed atmosphere.
  • Networking Parties: Enjoy unforgettable social events.

Retailer buyers can apply for a free ticket here: https://growupconference.com/toronto/retail-buyer-application/

Exclusive Multi-show Offer for Exhibitors:
You can save 10% when booking multiple shows with Grow Up. Our next show is Grow Up Alberta, September 29 – October 1, 2024 at the Edmonton Convention Centre. Please contact us at sales@growupconference.com for more details.

Limited Opportunities Available:

Reserve Your Booth
Become a Partner
Become a Speaker

Hurry, as early bird pricing for Grow Up Toronto 2024 ends on January 31, 2024.

For more information, registration, and inquiries, please visit Grow Up Toronto 2024.

Grow Up Alberta
NEW DATES: September 29 – October 1, 2024
Edmonton Convention Centre
 

About Grow Up Cannabis Conference and Expo:
Grow Up Conference and Expo is proud to make its debut in Toronto. Since 2017, we have been at the forefront of bringing forward-thinkers, trailblazers, and experts together to explore, connect, and innovate in the Canadian cannabis industry. For more information, visit Grow Up Conference.

Toronto, ON, May 27-29, 2024. Join top growers, the biggest brands, largest retailers, suppliers, manufacturers, extraction equipment/services, hundreds of top speakers/keynotes and thousands of delegates together to bring you up-to-date on proven methods, innovations and technology. This year’s expo will include the Brands and Buyers Zone, Masterclass Technical Series, Speed Networking, Seed Exchange and much more.

Load-in: Monday May 27, 2024
Expo: May 28-29, 2024

Book now. There are a limited number of booths available.

420 with CNW — Japan Passes Bill Authorizing Cannabis-Based Medicines in Landmark Drug Policy Reversal

420 with CNW — Japan Passes Bill Authorizing Cannabis-Based Medicines in Landmark Drug Policy Reversal

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Japan recently approved a measure that would legalize cannabis-based drugs. The country, which has strict drug laws, plans to lift a ban on medical products derived from marijuana. These drugs, which are produced with CBD, are already used in some countries to manage conditions such as epilepsy.

CBD, or cannabidiol in full, is one of the two primary compounds found in marijuana. The other compound, tetrahydrocannabinol (THC), is known to induce a high when ingested.

This move by Japan is a win for groups that have championed for access to these drugs. The country’s Cannabis Control Act was introduced during the post-war United States occupation in 1948.

A survey on marijuana use conducted in Japan found that only 1.4% of individuals in the country had tried the drug. This figure is quite low, especially when compared to data from the United States showing 50% of the population have tried using marijuana and 40% have tried the drug in France.

Despite this move forward, the recreational use of marijuana has now been criminalized. Officials attributed the toughening of this ban on the recent increase in marijuana-related arrests.

Before the revision was made, inhaling cannabis had technically been legal, based on a loophole introduced so farmers wouldn’t be arrested for inhaling psychoactive smoke accidentally while cultivating hemp. However, following the recent rise in arrests over marijuana, particularly among the young, authorities decided to make changes to the law. Under the revised regulations, any individual found in the possession of marijuana or caught using the drug will face a sentence of up to seven years in jail.

Figures from the country’s health ministry show that the number of arrests made two years ago in relation to marijuana was 5,783, observing a significant increase among teenagers and youth in their twenties. Additionally, a police probe conducted on more than 700 individuals who were arrested based on cannabis possession found that almost 30% of them felt the lack of penalties against consuming marijuana gave them courage to thwart the law.

After the measure was approved in parliament, government spokesman Hirokazu Matsuno stated that the government hoped this revision would help curb the trend of more young people abusing cannabis.

It should be noted that the revised law will enter into effect a year from promulgation. Under this law, marijuana and THC are categorized as narcotics to be regulated. Additionally, two kinds of licenses for cultivating marijuana will be established: one for purposes such as hemp and the other for parties that grow the plant to make medicine.

The easing of marijuana laws in Japan is likely to be welcomed as a step in the right direction by industry players such as Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED), which see this as a victory for progressive-minded people around the world.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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The Curious Case of Twin Telepathy & Biological Quantum Entanglement

The Curious Case of Twin Telepathy & Biological Quantum Entanglement

The Curious Case of Twin Telepathy

& Biological Quantum Entanglement

Does what we observe at the quantum scale

also occur at the classical physics scale? Are there examples?

Quantum entanglement has been observed many times and it’s extremely fascinating, so much so that Einstein called it “spooky action at a distance.” Quantum entanglement occurs when two particles, in their quantum state, are separated from each other yet, when you do to something to one of them the other one does the exact same thing. This happens regardless of what distance is between them.

For example, if you “spin” one of the particles, the other one will also instantaneously start spinning. This suggests that the two, what appear to be “separate” pieces of physical matter are somehow still interconnected in some way we don’t quite yet understand yet. It seems that either they are still “touching” and connected, or it may also be that information is travelling much faster than the speed of light.

But can some sort of quantum entanglement be observed at the ‘classical’ physics scale?

If we examine stories that exist regarding twins for example, quantum entanglement may be the answer. We will get to this (the science) shortly after examining a few examples.

These kinds of sentiments have been found in literature for quite some time, that there is something between twins, and it made me wonder, is there actually something to this?

In their book “The Encyclopedia of Superstitions,” folklorists E. and M.A. Radford note that:

“It is a very common belief that twins, especially identical twins, are united by a strong bond of sympathy that each knows when danger or misfortune threatens the other, even when they are separated. In the same mysterious way, any special state of happiness or wellbeing in one of the pair is reflected in the feelings of the other. It is often said that if one twin dies, the other will not live long thereafter.”

The 1844 Alexandre Dumas published, “The Corsican Brothers,” which tells the story of two once-conjoined brothers who were separated at birth. But even as adults they continued to share not only thoughts but physical sensations.

As one twin describes,

“However far apart we are now we still have one and the same body, so that whatever impression, physical or mental, one of us perceives has its after-effects on the other.”

In 2017, 97-year-old twin sisters Martha Williams and Jean Haley died outside their Rhode Island home after they both appeared to have tripped and fallen in the cold, dying from exposure. Three years earlier in 2014 identical twins Helen Mae Cook and Clara Mae Mitchel, aged 83, died within a day of each other (though the circumstances were different: one died suddenly of a heart attack and the other after a long struggle with Alzheimer’s disease).

Stories like this are out there and have been in the fiction and nonfiction realms for years. But for every story like this, there are many more that contradict what I am hinting at.

Most of the evidence for twin telepathy is not scientific (we will get to the studies shortly that are) but instead anecdotal.

For example, in 2009 a British teenager named Gemma Houghton was in her home when she suddenly had a feeling that her fraternal twin sister, Leanne, needed help. “I just got this feeling to check on her, so I went up to the bathroom and she was under the water,” she said. Gemma found Leanne in a bathtub, unconscious. She had suffered a seizure and slipped under the water, nearly drowning. Gemma called for help and administered first aid, saving her sister’s life.

This example is usually used, but the fact that Leanne had suffered many similar fits in the past, and the rest of her family (including her sister) had been warned to keep a watchful eye on her is usually left out of the story.

That being said, there are some interesting cases with no easy explanation.

The Science. Some Very Interesting Discoveries

One experiment comes from 1965, published by TD Duane and Thomas Behrendt from, at the time, the Department of Ophthalmology, Jefferson Medical College, Philadelphia, Pennsylvania. It’s titled “Extrasensory electroencephalographic induction between identical twins.” (Read paper here)

They found that “alpha brain rhythms were elicited in one pair of identical twins as a result of evoking these rhythms in a conventional manner solely in the other.”

The paper points out that alpha waves are experienced when subjects close their eyes, when they stare at a uniform unpatterned background, or when one sits in the dark with their eyes open. These methods produce immediate and repeatable results, which is why they were used.

The paper explains:

“The twins were seated in separate lighted rooms 6 m apart and were instructed to open and close their eyes only on command. Electrodes were inserted subcutaneously over the occipital protuberances. A standard EEG electrode was used as a ground. The amplified signals were recorded on a Beckman Dynograph and a Honeywell Visicorder. The subjects were asked to sit quietly, remain serene, and leave their eyes open except when instructed otherwise.

Extrasensory induction is the appearance without conventional elicitation of an alpha rhythm in one twin while it is being evoked under standard conditions in the other.”

This means, again, that what is done to one twin, like evoking an alpha brain rhythm on purpose, simultaneously happened in the other twin automatically. Like quantum entanglement…

“To date (1965), extrasensory induction has been found in 2 out of 15 pairs of twins tested…To establish the validity of these findings, the tests were repeated on several different occasions. In no instances did the induction occur between unrelated subjects…Extrasensory induction of brain waves exists between individuals when they are completely separated.”

Fascinating, isn’t it?

The researchers drew no conclusions from the study, and how this was occurring remains a complete mystery. It’s also important to emphasize that extrasensory induction did not occur in all twin pairs studied, but was only present in two sets of twins. It would be interesting to know why it didn’t occur in the other pairs.

That being said, even if there were a thousand pairs of twins studied and the phenomenon only occurred in one, it would still be quite fascinating.

Other studies have examined this phenomenon as well. One published in 2012 titled “Entangled in the Womb? A pilot study on the possible psychological connectedness between identical twins with different embryonic backgrounds” brings up quantum entanglement as a possible explanation.

The researchers write,

“Speculations have been made that they (extrasensory induction phenomena) might be explained by quantum entanglement as a biological level. The transition from possible biological quantum effects to those causal relationships occurring at the classical level has not been researched. In view of this, it is worth noting that identical twins originally were completely physically “entangled” in one cell (one string of DNA), and it can be speculated that even this form of entanglement might create a predisposition towards such experiences. Genetic “identity” is, however, much more complex than having 100% identical DNA. First, monozygotic twins show non-identical genetic developments since different genes are activated. Second, the zygote may divide into two embryos at different time points from approximately 0-11 days after conception, thereby affecting the amount of time the two future individuals have shared the same cell bodies.”

The researchers explain that “paranormal” type of feelings between twins is quite common. This is interesting because it correlates with the physical phenomenon of electrosensory induction seen in some pairs.

The researchers explain:

“Telepathic-like experiences, dates back to the work of Francis Galton. Since then, many claims have been made that some twins who are physically remote from each other show a sensitivity to each other’s thoughts, emotions or actions, pains, and sensations. The authors of a major survey in the United Kingdom found that 39% of twins believed they might have “the ability to know what was happening to their partner,” and a further 15% were convinced of it. Identical twins were twice as likely as non identical twins to report these experiences. These findings were given support by a Swedish survey in which 60% of twins reported telepathy-type experiences. Furthermore, frequencies were significantly greater among identical twins and significantly related to the degree of attachment between the pairs of twins. About one-tenth of identical twins report having experiences regularly.”

The study also points out that many of them feel that they have synchronous physiological experiences regularly as well.

“Because significantly greater frequencies of these types of experiences have consistently been found in monozygotic twins, and because the degree of attachment was related to the frequency of such experiences, genetic kinship or social bonding may be one factor creating a predisposition for such experiences. This hypothesis is supported by the findings, based on phenomenological data from case collections and surveys in several counties, that in the vast majority of cases the content of such experiences relates to a person emotionally close to the experiment.”

Another study was published by the same researchers titled “Further possible physiological connectedness between identical twins: The London Study” if you’re interested in that.

Another Example of Quantum Activity at the Classical Scale?

Quantum physics experiments are extremely fascinating, perplexing and hard to understand, and that’s because much of what some experiments infer are simply mind-altering and often not thought of as being possible. It’s an area that brings consciousness into play, and in some cases what some would deem to be “paranormal” type of activity.

This is because it’s been demonstrated that factors associated with consciousness, thoughts, intentions, feelings and perceptions can and do interact with physical matter at the quantum level. There is also evidence suggesting that human consciousness can interact with physical matter at classical scale levels as well.

As the Chinese Institute of Atomic Energy pointed out in 1991, in a study archived by the CIA:

“Such phenomena and paranormal abilities of the human body are unimaginable for ordinary people. Nevertheless they are really true.”

For example, a document I wrote about previously titled “Research Into Paranormal Ability To Break Through Spatial Barriers” reviews experiments conducted by the Aerospace Medicine Engineering Institute in Beijing, which the CIA believed was “probably military operated.”

It was reported in the July 1990 issue of the Chinese Journal of Somatic Science (Kongzhi et al., 1990; Jinggen et al., 1990; Banghui, 1990), and was translated into English by the DIA (Defense Intelligence Agency).

The document highlights experiments involving the videotaping and high-speed photography of the transfer of test specimens (nuts, bundles of matches, pills, nails, thread, photosensitive paper, chemically treated paper, sponges dipped in FeCl3, etc.) through the walls of sealed paper envelopes, double layered KCNS-type paper bags, sealed glass bottles, tubes with sealed caps, and sealed plastic film canisters without the walls of any of these containers being breached.

All of the experiments used gifted children and young adults, who possessed well-known extraordinary PK (psychokinetic) ability that allowed them to teleport the various test specimens.

This is something we’ve seen in quantum experiments, like quantum tunnelling, for example.

So, it really makes one question. What we observe at the quantum level may in some way we don’t understand, also apply at the classical level at times.

This is parapsychology, the study of phenomena like telepathy, clairvoyance, remote viewing, distant healing, mind-body connection and more. Each has strange yet fascinating links to quantum mechanics. Studies under the umbrella of parapsychology have yielded repeatable and statistically significant results.

“What convinced me was just the evidence, the accumulating evidence as I worked in this field and I got to see more and more of the evidence. I visited the laboratories, even beyond where I was working to see what they were doing and I could see that they had really tight controls…And so I got convinced by the good science that I saw being done. And in fact I will say as a statistician I’ve consulted in a lot of different areas of science; the methodology and the controls on these experiments are tighter than any other area of science where I’ve worked.”

Dr. Jessica Utts, Professor Emeritus, Department of Statistics at the University of California, Irvine.

The Takeaway

There are a number of examples of gifted people doing extraordinary things, things that are deemed impossible by mainstream academia. Perhaps what we believe about the nature of reality, or what we’ve been made to believe, prevents some minds from being open to such phenomenon, but the fact remains that it’s been studied, observed and documented at the highest levels of government for many years.

The examples discussed in this article are not as shocking and eye opening as some others I’ve written about.

What I find interesting are these questions:

Why is most of the literature available on this subject coming from defense departments of multiple countries?

Why is it that it’s studied in classified and secretive settings and not really made available or open to public scrutiny?

Why are these things being studied at the highest level of government yet completely ignored and unacknowledged within academia?

I truly believe that all humans possess capabilities we are not yet aware of, and I believe this has been demonstrated quite well. In a free, open and transparent society, we would be utilizing these concepts and learning more about them, simply because they seem to be a natural part of the human being’s curiosity. Studying in these fields can truly expand human consciousness and our understand of non-material science.

That being said, I don’t believe that human beings are operating from a place within ourselves to truly expand our minds enough to use some of the paranormal abilities often discussed. Our general day to day culture can be quite distracting.

Further, the collective, in some sense, craves power, service to self, and the desire to advance oneself in a materialistically inclined way. We are not all operating from the level of consciousness to truly be responsible with these ‘abilities’ present in our human experience.

It’s like technology, we can use it to make weapons, make money, not share it, or use it for the collective good. It’s a choice, but what drives our choices? It’s not our abilities or technology that can create change, it’s the level of consciousness we operate from and the place from within that we implement these solutions, not the solutions themselves.

At the end of the day, we are all connected in more ways than one.

@theenigma

BA in Philosophy from the University of Waterloo, BEd from the University of Toronto. Writer/journalist for the past 15 years. Passionate about sharing information on a variety of topics, as you can tell!

Use Coupon Code: TheNewNow for 11% off

Calgary Police identify suspects in string of cannabis store robberies

Calgary Police identify suspects in string of cannabis store robberies

Calgary Police say they have identified all the suspects involved in a string of cannabis store robberies in the city over the past several weeks. 

Police had previously identified at least a dozen cannabis stores that were robbed in Calgary in the last month, asking for help from the public in identifying them. 

The robberies were violent in nature, including one incident where the suspects kicked the store clerk unconscious and brandished a knife. Weapons such as a handgun and a hammer have also been used in other reported incidents, said police.

Now those suspects have been identified, all 16 and 17-year-old boys. Calgary Police say the investigation into the robberies remains ongoing, with charges pending.

Law enforcement had said they believed the group was targeting the cannabis stores for cash and cannabis products which can be re-sold illegally. 

Robberies and burglaries of cannabis stores are not uncommon, and stores in Calgary have been previously targeted. Cannabis growers and processors have not been immune, either. Earlier this year, at least two cannabis producers in BC’s Lower Mainland were the victims of early-morning burglaries.

Alberta recently repealed its rule requiring stores to have window coverings, which retailers said made their employees less safe in such incidents.


OCS continues to grow, with nearly $1.5 billion in wholesale sales in 2022-23

OCS continues to grow, with nearly $1.5 billion in wholesale sales in 2022-23

The Ontario Cannabis Store helped facilitate nearly $1.5 billion in cannabis sales through the distribution of 315,000 kilograms of cannabis products across a network of more than 1,600 stores, as well as online sales, in its most recent annual report.

By provincial order, the agency was required to pay its net profits of $150 million from its cash balance into Ontario’s Consolidated Revenue Fund (“CRF”).

The report, covering the 2022-23 fiscal year ending March 31, 2023, shows the provincial cannabis distributor and online retail generated a net income of $234.2 million over the past year and revenue of $1,474.5 million, marking a growth of $293.7 million compared to $1,180.8 million in 2021–22. 

The province captured nearly 60% of the cannabis market with its sales, a continued increase in the total share of the market. 

Sales increases were assisted by establishing the OCS’ Flow-Through program, which, combined with the number of products held in stock in the distribution warehouse, grew to 2,950 SKUs, a 46.5% increase over the previous fiscal year. 

A product sold through the OCS Flow Through program sits at the OCS warehouse

The total number of units sold through the OCS, including Flow Through, was 1.4 million, supplied by 90 licensed producers from across Canada, most of which the OCS categorizes as small businesses. 

The number of stores in Ontario has continued to increase, even as store closures have also been picking up pace. Ontario added an additional 345 Authorized Cannabis Stores in the most recent fiscal year, growing to 1,661 stores across the province as of March 31, 2023. (The AGCO currently lists more than 1,700 stores as Authorized to Open.) Another 144 stores closed during this time period. 

Online cannabis sales through OCS.ca decreased in the last fiscal year as the provincial agency says it has made efforts to improve its wholesale service levels to retailers and deprioritized large or material enhancements to the online consumer platform.

Dried flower sales through OCS.ca saw a significant decline, from 49.8% of all sales in 2021-22 to 37.6% in 2022-23. Sales of generally smaller SKUs like pre-rolls, oils, capsules, vapes and concentrates, edibles and beverages increased through the online platform.

The total revenue for the OCS sales from wholesale and online sales in 2022–23 reached $1,474.5 million, marking a growth of $293.7 million compared to $1,180.8 million in 2021–22. 

Wholesale sales of vapes, pre-rolls and edibles showed growth in the most recent fiscal year, but cannabis flower still dominates with 42.7% of wholesale revenue sales in 2022-23. Combined with pre-rolls at 19.4% (non-infused), this accounts for 62.1% of total revenue share.

Vapes and concentrates represented the next largest share of revenues, with 26.2%, followed by edibles at 4.5%, oils and capsules at 3.4%, and beverages at 2.7%. Vapes and concentrates were up from 18.8% in the previous fiscal year.

The OCS will be lowering its margins on wholesale products in Q2 of 2023–24, which it expects to inject approximately $35 million into the marketplace and roughly $60 million by 2024-35 with even further planned reductions.

Currently, the fixed wholesale markup OCS charges on cannabis products ranges from 20-29%.

The total finance income for the OCS in 2022–23 reached $16.8 million, marking a growth of $14.7 million compared to $2.1 million in 2021–22. 

Ontario Cannabis Store Fixed Wholesale Mark-up Rates by Subcategory
Ontario Cannabis Store Fixed Wholesale Mark-up Rates by Subcategory. Image via OCS.

The most recent fiscal year was the most profitable year for the OCS so far, with a reported total comprehensive income of $234.2 million, compared to $184.4 million in 2021–22. 

The OCS has used these profits to repay the loan provided by the Ontario Financing Authority. In 2022–23, $7.6 million in loan principal was repaid, and $1.8 million in interest was paid, for a total payment of $9.4 million. The balance of the loan as of March 31, 2023, was $59.7 million. It completed a total of $37.6 million in payments to various governments in 2022-23.

The federal government received $27.6 million in harmonized sales tax (HST) remittances from Ontario cannabis sales in 2022–23, an increase from $27.0 million in 2021–22. The Ontario provincial sales tax component of the HST was $17.0 million in 2022–23, compared to $16.6 million in 2021–22.

On or before September 29, 2023, the Ontario Cannabis Retail Corporation was required to pay into Ontario’s Consolidated Revenue Fund (“CRF”) its net profits in the amount of $150 million from its cash balance as of March 31, 2023.


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JAMA Article Suggests Psychedelics Industry Likely to Clash with FDA

JAMA Article Suggests Psychedelics Industry Likely to Clash with FDA

Several states in the United States have already approved the use of psychedelics, even before the U.S. Food and Drug Administration (FDA) has concluded trials and drug approvals. For instance, the state of Oregon legalized the nontherapeutic use of psilocybin and established a program for supervised use following approval of Measure 109 by voters.

Soon after this, voters in the state of Colorado approved Proposition 122, which will allow psychedelic businesses to launch come 2025. Other states planning to approve similar measures in 2024 include California, New York, Illinois, Vermont and Massachusetts.

At the moment, the FDA is reviewing psychedelics such as MDMA and psilocybin applications from a range of biotechnology firms.

A recent paper published in “Journal of the American Medical Association” suggests that psychedelics regulated at the state level may clash with this federal agency soon. This is primarily because most psychedelics are still classified under Schedule I of the Controlled Substances Act, which makes them illegal at the federal level. This also means that these state programs administering psychedelics to patients are committing felonies.

The paper’s author, Dr. Mason Marks, believes the FDA may soon start targeting companies involved in this industry and present them with cease-and-desist letters. Marks is the project lead and senior fellow of the Project on Psychedelics Law and Regulation at Harvard Law School’s Petrie-Flom Center.

This is similar to what happened in the cannabis industry in 2022, when the FDA presented more than a dozen letters to companies that were marketing marijuana products illegally. This was based on the fact that cannabis is still classified as a Schedule I substance. Substances under this classification are said to have no accepted medical use and a high potential for abuse.

Earlier this year, the federal agency also issued warnings about the off-label prescription of ketamine. In addition to this, it gave warnings on kratom products, which are often sold with other gray market marijuana products.

Marks is of the opinion that the FDA will likely approve the use of synthetic versions of psychedelics and reclassify the substances to a lower schedule in the Controlled Substances Act. However, he argued, fungal-derived psychedelics may remain illegal.  He gives the example of dronabinol, which is also known as 9-THC. This compound’s formulations are classified in different schedules, with FDA-approved Syndros and Marinol formulations occupying Schedules II and III. Purified dronabinol, however, remains under Schedule I.

The article also highlighted that the Federal Trade Commission could join the bandwagon, given that it’s currently focused on cracking down on unsupported medical claims.

For enterprises that are following the clinical drug-development procedure, such as Seelos Therapeutics Inc. (NASDAQ: SEEL), no issues with the FDA may arise since they are following the established regulatory processes.

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