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Meet Nancy Whiteman, a Colorado-based former insurance executive who created the state's most successful edible marijuana business. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf Whiteman, 60, is co-founder and CEO of Wana Brands, a manufacturer of cannabis-infused edibles based in Boulder, Colorado. Wana (short for "marijuana") specializes in gummies. The candies don't look like gummy bears or worms — that's illegal in the state (too appealing to kids). Wana candies are small squares or circles dusted in sugar. They are vegan, and they are delicious. But really, how did a senior marketing executive end up in a business like this? "Unlike many other people who I admire and respect in this industry, I didn't come to the industry from an advocacy background," Whiteman says. "I really was mostly intrigued with it as a business opportunity." From corporate to cannabis Nancy Whiteman's career started out about as corporate as you can get. She has an MBA from the University of Massachusetts Amherst and spent years as the vice president of marketing for a large financial services company in the Northeast. About 20 years ago, she moved to Colorado, where she ran her own marketing consultancy company. Then ... she got into the pot business, as the state began rolling out legal cannabis (medical marijuana was legalized in Colorado in 2000). "I like to say I went from the most traditional industry to the least traditional industry," Whiteman says. Even though people had been making pot brownies forever, the edibles market in 2010 wasn't big in Colorado. Whiteman estimates pot-infused treats only made up 10 to 15 percent of a dispensary's sales. "When we first started the company, and I would walk into dispensaries and talk to people, 'Oh, we're starting a new line of edibles,'" Whiteman says, "and people would practically be yawning in my face. They could [not] care less." That all changed in 2014 with legalization of the recreational market in Colorado. Pot was no longer legal only for medicinal purposes. Anyone over 21 could buy it for any reason. Suddenly edibles became very popular, especially with people new to cannabis who didn't want to smoke. They were also a discreet way to consume pot, as it was illegal to use weed publicly. "You can eat a gummy and nobody knows you're consuming cannabis," Whiteman says. Sales skyrocketed, from around $100,000 the first year to $14.5 million in 2017, according to Whiteman. They are on track to top $16 million, making Wana the most successful edibles manufacturer in the state. Wana's recreational sales are three to four times that of its medical products. However, with the popularity of edibles came some unintended consequences. It takes longer to feel the effects of cannabis when eating it versus smoking it, and that led to people consuming too much. A story by Maureen Dowd in the New York Times in 2014 brought national attention to the issue, as Dowd said she ended up paranoid and unable to move in her Denver hotel room after eating an entire candy bar. She had no idea how much THC she was consuming. After that, Colorado led the way to create rules for edibles, like how much THC could be in each individual piece. Products had to be tested for potency, and they had to be sold in child resistant packaging. Edibles could also no longer look like well-known candy or cookie brands, to avoid confusion. Whiteman supports the changes, even though they were costly. "We had to completely, completely revamp how we were producing our products...it cost us hundreds and hundreds of thousands of dollars," she says. The changes also brought about an end to certain products Wana created. Gone was the caramel which was too soft to hold the new mandatory official THC stamp or the nuts dusted with cannabis sugar — they just couldn't control the range of THC on each individual nut, so had to kill the product. "They were delicious," she says with a sigh. That said, she thinks the regulations have made edibles a safer market. She's says it's up to parents to keep unsafe products away from their children. "People are going to make edibles," she explains. "When you make an edible at home, you have no idea what the potency is, I don't think you're going out and getting a child resistant package. That's the dangerous situation." About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: http://www.cnbc.com/make-it Find CNBC Make It. on Facebook: http://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: http://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: http://bit.ly/InstagramCNBCMakeIt Find CNBC Make It. on LinkedIn: https://cnb.cx/2OIdwqJ #CNBC #CNBCMakeIt This 60-Year-Old With An MBA Now Brings In Millions Selling Cannabis Candies | CNBC Make It.
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Understanding the Basics of CBD and THC
The world of cannabis has expanded dramatically over the past few decades, shifting the perception of marijuana from a stigmatized substance to a complex plant with various therapeutic benefits. At the forefront of this evolution are two pivotal cannabinoids: Cannabidiol (CBD) and Tetrahydrocannabinol (THC). While both compounds are derived from the Cannabis sativa plant, they possess distinct properties that significantly influence their utility and legalization across various territories. Understanding these differences becomes crucial for consumers, researchers, and policymakers in navigating the complexities associated with cannabis use.
Cannabinoids, such as CBD and THC, interact with the human body’s endocannabinoid system, a network of receptors and neurotransmitters believed to play a pivotal role in maintaining homeostasis and regulating several physiological functions, including mood, memory, pain sensation, and appetite. However, it’s essential to note that while THC is primarily known for its psychoactive effects, causing the “high” commonly associated with marijuana, CBD is non-psychoactive, which means it does not induce such effects. This fundamental difference sets the stage for their respective applications and societal acceptance.
Both CBD and THC offer therapeutic benefits, but the specific effects and legality of these compounds can vary widely. THC is often used for its pain-relieving properties, but can also lead to alterations in perception and cognition, making it less suitable for all consumers. On the other hand, CBD has gained popularity for its anti-inflammatory and anxiolytic properties without the intoxicating effects of THC, appealing more broadly to those seeking relief without the high. As interest in cannabis continues to expand, a nuanced understanding of these two cannabinoids becomes increasingly vital for informed usage.
The Chemical Structure and Effects of CBD and THC
Cannabidiol (CBD) and Tetrahydrocannabinol (THC) share a similar molecular structure, which is why both interact with the endocannabinoid system in the human body. However, the slight differences in their chemical compositions are responsible for the divergent effects that each cannabinoid induces. Both compounds consist of 21 carbon atoms, 30 hydrogen atoms, and 2 oxygen atoms; the key distinction lies in the arrangement of these atoms and the functional groups attached to their structures. This subtle variance results in differing receptor binding capabilities.
When THC binds to cannabinoid receptors in the brain, particularly CB1 receptors, it triggers a series of neurochemical events that lead to the psychoactive effects users experience. These effects can include euphoria, an altered perception of time, and in some cases, anxiety or paranoia, particularly in larger doses. In contrast, CBD does not bind to the CB1 receptors in the same way. Instead, it appears to interact more broadly with a variety of receptors, including serotonin and vanilloid receptors, which contribute to its anti-anxiety and anti-inflammatory properties. This difference in receptor interaction is crucial in determining the therapeutic potential of each cannabinoid.
The therapeutic effects of each cannabinoid can vary significantly due to their chemical interactions. THC is often utilized for its appetite-stimulant properties, pain relief, and its ability to help with sleep. Conversely, CBD is typically favored for its ability to reduce anxiety, assist with seizures, and offer potential antipsychotic properties. Understanding these biochemical mechanisms is essential for determining the appropriate use of each compound, particularly as research continues to shed light on their respective roles in health and wellness.
Legal Status: Navigating the Regulations Around CBD and THC
The legal landscape surrounding CBD and THC varies widely across regions and jurisdictions, reflecting an ongoing evolution in public policy and perception regarding cannabis. In the United States, for instance, the 2018 Farm Bill legalized hemp-derived CBD at the federal level, provided that it contains less than 0.3% THC, effectively distinguishing legitimate CBD products from those that may be classified as illegal marijuana. As a result, the CBD market has exploded, providing consumers with an array of products ranging from oils and tinctures to edibles and topical applications.
On the flip side, THC’s legal status is far more complicated. Many states have opted to legalize medical and recreational marijuana, allowing THC to be consumed by adults in regulated proportions. However, such laws can vary wildly; what is legal in one state may be illegal in another. In contrast, countries outside the United States have diverse approaches; for instance, Canada has fully legalized marijuana, including both CBD and THC, while other countries maintain strict prohibitions against any form of cannabis consumption.
The legal discrepancies between CBD and THC can impact consumers’ access to health benefits purportedly associated with these cannabinoids. Institutions and industries are undergoing transformations as they adapt to the evolving legal environment, making it increasingly essential for consumers to stay informed about the status of these cannabinoids in their specific regions. Moreover, the challenge of navigating these laws may lead consumers to authenticated sources of information to ensure they remain compliant while accessing the benefits of cannabis.
Potential Health Benefits: Exploring Therapeutic Uses
Both CBD and THC are associated with a myriad of health benefits, albeit through different mechanisms. Research has suggested that CBD may play a significant role in managing anxiety and depression, particularly due to its influence on serotonin receptors. Several clinical studies have highlighted CBD’s potential in reducing anxiety in individuals with social anxiety disorder and generalized anxiety, showcasing its therapeutic implications without the psychoactive effects that THC may impose. Additionally, CBD is recognized for its anti-inflammatory properties, making it an attractive option for those suffering from conditions such as arthritis and multiple sclerosis.
Conversely, THC demonstrates promise for pain management. Its psychoactive effects can counteract the perception of pain, making it a viable option for patients with chronic pain conditions or those undergoing treatments such as chemotherapy, where nausea and appetite loss are prevalent. Several studies have found that THC can enhance appetite and alleviate nausea, contributing to a better quality of life for individuals facing debilitating illnesses. Additionally, some evidence suggests that THC may possess neuroprotective qualities, with potential applications in treating neurodegenerative diseases like Alzheimer’s and Parkinson’s.
Moreover, the entourage effect—a phenomenon wherein multiple cannabis compounds work synergistically—suggests that combining CBD and THC may yield enhanced therapeutic benefits. Patients seeking relief from symptoms of conditions such as epilepsy have reported improved outcomes when utilizing cannabis products containing both cannabinoids. While both CBD and THC can be used individually, their combined effects may result in a more favorable therapeutic profile, underscoring the importance of further research into their synergistic potential.
Side Effects and Considerations When Using CBD and THC
Understanding the potential side effects associated with both CBD and THC is crucial for users seeking to maximize benefits while minimizing adverse reactions. While CBD is generally regarded as safe and well-tolerated, some users may experience mild side effects, including drowsiness, dry mouth, or gastrointestinal disturbances. It’s important for users to consult healthcare professionals before starting any CBD regimen, especially if they are on other medications that could interact adversely. Additionally, the lack of FDA regulation on many CBD products raises concerns regarding product quality and consistency.
In contrast, THC is associated with a range of more pronounced side effects due to its psychoactive properties. Users may experience increased heart rate, anxiety, altered judgment, and potential impairments in motor skills and cognitive function. These effects can pose challenges for tasks requiring full concentration, such as driving or operating machinery. Therefore, those seeking to use THC should be mindful of the dose and potency, opting for lower doses to mitigate potential adverse reactions, particularly if they are inexperienced users.
Moreover, the long-term implications of using THC remain a topic of ongoing research. While short-term benefits may be evident for conditions such as chronic pain, the risk of dependency and the psychological effects of prolonged use warrant consideration. Users must make informed decisions based on their personal health conditions, preferences, and legal regulations. Awareness of both cannabinoids’ side effects, along with consultation from healthcare professionals, is key to navigating the complex landscape of cannabis consumption safely.
FAQ: Addressing Common Queries About CBD and THC
As the public’s understanding of CBD and THC continues to grow, several frequently asked questions arise that highlight people’s concerns and curiosities surrounding these cannabinoids. One common question pertains to the legality of these compounds. As mentioned earlier, while CBD is federally legal when derived from hemp, THC’s legality often depends on state regulations. It’s essential for consumers to be aware of the laws governing these cannabinoids in their regions, especially as legislative changes occur rapidly.
Another prevalent inquiry relates to the safety and efficacy of these substances. While both CBD and THC have undergone various studies, consumers should approach their use with caution. The lack of comprehensive FDA regulations can lead to concerns over product quality, necessitating a keen eye for third-party testing and transparent ingredient lists. Additionally, potential users should consult healthcare professionals to ensure they are making informed choices based on individual health needs.
Lastly, many individuals wonder about the differences in effects between CBD and THC. It’s crucial to recognize that while they stem from the same plant, their psychoactive properties and therapeutic applications are notably different. CBD offers relief without intoxication, making it appealing for those who wish to avoid the high that accompanies THC. Acknowledging these differentiating factors can better equip consumers in their search for the right product to meet their therapeutic needs.
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CBD Unlimited Provides High Quality CBD Soft Chews For Dogs and Cats, So They Too Can Experience All Of The Potential Benefits Of CBD. What is CBD and What About CBD For Dogs? Call 480-999-0097 to find out. You can follow us on Findit at https://www.findit.com/cbd-dog-treats/RightNow Visit us online at https://www.cbdunlimited.com/ At CBD Unlimited we want to provide you with the highest quality CBD the market has to offer. Findit provides online marketing services please give us a call if you need any assistance with your online marketing strategy. 404 443 3224. CBD News PHOENIX, Jan. 16, 2019 (GLOBE NEWSWIRE) -- SingleSeed a subsidiary of SinglePoint (OTCQB:SING) a fully reporting company providing mobile payments, ancillary cannabis services launches PHYTO-BITES on SingleSeed.com. The company’s subsidiary SingleSeed.com has added a new vertical to its robust product line up. Serving pet owners with a brand-new offering that is formulated to reduce stress, pain, separation anxiety and inflammation. PHYTO-BITES is manufactured and supplied by CBD Unlimited formerly (Endexx) (OTC:EDXC). The two companies are working collaboratively to distribute this product online and in store all over the nation. Phyto-Bites CBD Phyto-Nutrients for Large Dogs Phyto-Nutrients for K-9 Health SingleSeed SingleSeed is the place to purchase CBD products in the United States. All of our products are Federally approved for legal sale and we ship Nationwide. According to GrandView Research the global pet care market is expected to reach USD 202.6 billion by 2025. Based on type, dogs held the largest market share. SingleSeed plans to make PHYTO-BITES one of its premier offerings because of the size of the market and the market penetration potential. Go to SingleSeed.com and use promo code CBDFORME to get 15% off your first order*. “We are very excited to add this to our list of products. The pet market is a tremendous opportunity and we plan to attend and use all our contacts to promote this product at every opportunity we are presented with,” states Greg Lambrecht CEO. From SingleSeed blog CBD for Pets – “We love our pets. Raising pets like they are members of our families means we go the extra mile for them. Especially when it comes time to address their health problems. More and more pet owners are turning to CBD to help their buddies in similar fashions. Phyto-Bites CBD Soft Chews are for use in dogs and are formulated to promote health and support the reduction of separation anxiety, pain and inflammation.” Follow this LINK for full article. *not all products eligible for discount About SinglePoint, Inc. SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry. Connect on social media at: https://www.facebook.com/SinglePointMobile https://twitter.com/_SinglePoint https://www.linkedin.com/company/singlepoint For more information visit: www.SinglePoint.com Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
