From Seed to Cell: Marijuana's Path to Legality
Chris Coulombe is no stranger to process, regulations and honoring the law. An Eagle Scout and Scout Executive, Army Specialist Officer in Trans National Security, and now CEO of Pacific Exhibitors, a logistical support company for distributors of marijuana, Chris provided several dimensions describing the challenges in complying with current regulations and the need for additional legislative framework.
For instance, 83% of current transactions are in cash. FDIC insured banks cannot manage accounts generated via marijuana funds. Each day, $3-$5 million is transacted in cash and transported daily in California. To participate legally in this huge cash crop, no less than 12 different licenses are required for various phases cultivation to retail sale. Manufacturing, testing, purifying and distribution are just a few licensing domains. As research continues to examine the effects of the non-psychoactive ingredient CBD. The benefits become more apparent and support for better control grows. THC, the psychoactive compound may be hybridised into varying strengths for different markets. Product testing is a licensed activity.
Why has our speaker chosen the Distribution channel for his enterprise? Logistically, as the product is moved from one licensing mandate to another, the chain of custody and audit track and trade basis must be maintained. Pacific Exhibitors is positioning themselves to help producers protect their harvest and preserve their legal trail to sustain their future in the new California green gold.
