Jim Marty shares the Phish first night concert highlights from Denver. He talks about the bands incredible energy and enthusiasm. Jim and Larry are joined by Peter Prevot from Louisiana who talks about the states medical cannabis program. The state has implemented many unique rules including having the state's agricultural universities produce the cannabis and not allowing flower. Produced by PodCONX https://podconx.com/guests/larry-mishkin https://podconx.com/guests/jim-marty https://podconx.com/guests/rob-hunt
Jim Marty shares the Phish first night concert highlights from Denver. He talks about the bands incredible energy and enthusiasm. Jim Marty and Larry Mishkin are joined by Peter Prevot from Louisiana who talks about the states medical cannabis program. The state has implemented many unique rules including having the state's agricultural universities produce the cannabis and not allowing flower.
https://podconx.com/guests/larry-mishkin
https://podconx.com/guests/jim-marty
https://podconx.com/guests/rob-hunt
Jim Marty: [00:00:21] Well, hello, everybody, and welcome to the Deadhead Cannabis show. Jim Marty here reporting from my barn in Longmont, Colorado.
Larry Mishkin: [00:00:43] I'm Larry Mishkin here. Hemp, nice to hear from you. Always a pleasure to hear from you in the barn. We've got a lot of stuff to talk about today, but I think before we can realistically get into any of it. You were at this show last night, the first of three addicts. And for those of us that weren't able to make it, even though we may have seen settlers, that never does it justice. Please tell. How was the show?
Jim Marty: [00:01:07] It was really, really good. The best show I've seen in a long time. They're just plain amazing. Just that just one minute they hit the stage. They're just blazing. And we got a sand and a free and blaze on sand. It was. But when they were just playing, it just all ran together. I really didn't even know what songs they were playing. The jams were just so electric and so out there was really good. But I think they're outgrowing that facility. Dick's has a wonderful soccer arena. It's not that all that was built around the year 2000, I believe. And just a great 30000 person venue. And the sound is just phenomenal. And I think they have it down. The first year they did this was 2011, and they've done it every Labor Day since then. But there was so many people outside looking for tickets. There was a crazy scene. I've never seen it so tight. For tickets they were selling for two hundred and three hundred dollars on the Internet. You know, people who never miss a fish show where we're not going to be able to go to some of the nights just because of the cost of the tickets on the secondary market. So I wonder if next year they might move to a bigger facility like Folsom Field where dad and company plays because that holds 60000. So literally twice. What would Dick's soccer arena holds? But we're looking forward to the next two nights. Mishkin said the band and the music in the audience were all one for a little bit there last night. Wonderful time. So anyway, we have a special guest.
Larry Mishkin: [00:02:50] We love you guys. Wait, let me let me tell you, I've been like this for a minute here because I love what you're saying. There's a couple of things that you're saying there. But as a Deadhead ring true to me and what really makes me as a dad and appreciate this. And, you know, I really find myself being swept more and more into that universe. First of all, wasn't that always the sign of a good dad show where you could be out there are just tired of hanging out in your own space and all of a sudden they hit a note. You're like, oh, yeah, that's what they were planned. Yes. Forgot what they were. Plans. I was there. It's such a good time. There were so far out there. I mean, it was Mr. Song in between that they said, which one is there are, you know, there that that's the level. Clearly the fish is out. And I mean, it's not it's no surprise that they are, you know, given where they are at this stage of their career. And, you know, it seems important and worth remembering. You know, people joke about this 1.0, 2.0 and 3.0. But the real significance of that to me is it gave these guys a chance to recharge, try to clean up. And for them to come back in at an age when Jerry was gone and the dead were already splintering, you know, they're taking it to the next level and just moving on.
Larry Mishkin: [00:04:01] And I have to say, you're also right, Jim, that if you remember for the dad, I believe it was at Deer Creek in Indiana was the night that they crossed the line of the dead headed toward down fans to get in. And after that, the dead were like that said, you know, we basically had to see them in football stadiums for the rest of their career, which, you know, was still great to see the dad. But it's all you know, it's a sign of success. But at the same time, you just you lose a little something with it. One other thing they might throw in there. Stitcher relevant to this whole thing about what's going on with Trey. I don't know if you had a chance to see this, but for those of you were there, I'm envious beyond belief. And for those of you that weren't there, I hope you've had a chance to see this on YouTube. But if not, then we're done talking. You should run to YouTube. Check this out. But last week at Larkin, Trey came on stage with Tedeschi trucks for I believe it was the second set of their show and they covered the entire Layla album from start to finish.
Larry Mishkin: [00:05:06] And not only is it one of my favorites, rock and roll albums of all time, but people don't remember that. Everybody just thinks of Eric Clapton. Dwayne only played slightly guitar on the Layla album. He was part of Jericho, the darling of. And he was part of that, so that makes it unique. And to have trade steady, get it and very ably filling it for for the Eric Clapton side of it. But you have Derek Trucks doing the Duane all the peace. And that's what made it, you know, really polluted our old league. It had to be one of the best such of music I've ever seen. And he would spray. I think it did. This was what I love about him. You're sitting there watching Trey while he's playing and he's just staring at Derek trucks. And at the back of my mind, what I fear could maybe. But hope Trey is saying is like, God, I am five feet away from this guy. Look at how amazing he's playing. And I'm up here with him not to take anything away from Trey at all. He fantastic. But Derek Trucks just takes on all of that to such another level. It's such an amazing set of music. If you haven't seen it, please go out and watch it right away.
Jim Marty: [00:06:17] Yes. Trey is playing at a very, very high level. And that's one of my friends once said at a dead show. There was moments when the band and the crowd and the music were all on the same page. We're just all right there on the same page. It was wonderful. So anyway, I got lots of stuff to talk about. We have a special guest today. We have one of our associates who runs the Bridge West New Orleans office. Peter Primo is a business manager with our firm and he's very politically active in Louisiana.
Jim Marty: [00:06:53] He's been instrumental in getting their medical marijuana program off the ground. So, Peter, are you there?
Peter Prevot: [00:07:02] Hey, Jim, thanks for the introduction.
Larry Mishkin: [00:07:05] . Nice to have you on the show.
Peter Prevot: [00:07:10] Thanks, guys. I'm excited to be here. There was a quite a leak out there, gentlemen, tell us that you got a few more nights of that.
Jim Marty: [00:07:18] Yes. Two more nights. Got to pace yourself. But anyway, this was a big month in Louisiana because the nine.
Jim Marty: [00:07:29] They don't call him dispensaries in Louisiana. Their pharmacies opened earlier this month. Peter, Peter, tell us what's going on.
Peter Prevot: [00:07:37] Yeah. August 6, we saw the launch of the program officially, which consisted of release of the product to the nine pharmacies in a kind of tell you a little bit about the setup of the program here for those who aren't familiar. So everything on the cultivation and manufacturing, those permits were ordered to our state agricultural colleges. So Louisiana State University and Southern University are running those facilities. And so what we saw were pictures released to the nine pharmacies. And that's the that's the product that they started with. And they came in three different ratios. There was THC rich ratio, a one to one ratio of THC, the CBD, and then also a 20 to 1 ratio of CBD to THC. And those products went out. We were able to see about 5000 patients so far in August. And so definitely a big, big marker for the Deep South in getting some very, very good feedback on the patient level. And I can share some kind of some of those numbers. Ray, average patient age is 15 years old.
Peter Prevot: [00:08:40] They're about 63 percent males, about 12 and a half percent identified as minorities, 56 percent reported using candidates previously, and about 28 and a half percent reported taking opioids. Currently, though, good data there and that that will continue to be collected.
Peter Prevot: [00:08:58] And it's definitely exciting time in the south here and seeing things change after years and years of pushing down at this Dena. battled at the state legislature.
Jim Marty: [00:09:09] Well, that's great. And your program's really interesting is that all the cultivation and manufacturing is run through the two universities, LSU and Southern You.
Peter Prevot: [00:09:20] Yep, yep, that's correct. That's correct. And so the way that that was it. We obviously have many other universities in the state, but those are the only two that are considered land grant agricultural colleges. And so that's how the legislation was written. And it's a unique feature. You know, it's if you've ever worked in a university setting, which I actually did previously before joining the Cannabis industry, I worked for a medical school for five years. And, you know, there's a certain level of bureaucracy that comes to the university and it makes things like this somewhat difficult to roll out. But however, you know, the flip side, once you've actually got it up and running, the university partnerships can be very valuable. And, you know, we're also seeing kind of a level of consistency. And, you know, with only being two producers, we're gonna see a very high level of consistency, which is something that, you know, has been an issue in other states. But, you know, there is limited supply chain as far as, you know, only having the two producers, but they're allowed to build as many facilities as they want. There's not even a real limit on their canopy size or anything like that.
Jim Marty: [00:10:17] Well, that's good. So that you said supply and demand of it kind of in sync.
Peter Prevot: [00:10:22] Yes. We saw a lot of delays early on, so that allowed LSU and their partner GDP Sciences to really build up some inventory before the release. And they were also calculated that they only released one product form to start being the tinctures and their speed ratios that I mentioned earlier. We'll see some additional products rolling out as far as dosage forms. So currently, what's allowed by law or sub lingual stills, tinctures, creams, suppositories, transdermal patches and metered dose inhalation devices. And so we'll start to see more variety of the products over time. But Gibby is definitely an LSU. We are definitely rolling out kind of one product at a time to make sure that that supply for each product is consistent. And so. Yeah. No. No shortages yet. And jeebies on a perpetual harvest cycle. And so they're you know, they're harvesting every couple of weeks, which is good news for the patients.
Larry Mishkin: [00:11:15] I will ask Peter, quick question. First of all, I'm glad to hear that there's another state that we've added to the list of those that are moving forward with Cannabis in one form or another. It's a great way to open the door. And hopefully, you know, as with other states, we will advance forward to which you to questions, you know, a lot of people how they think when we hear about these types of programs. Is there any talk at all in the legislature about the addition of the availability of flour at the retail level?
Peter Prevot: [00:11:46] So that discussion really is out there amongst the patient groups. We're seeing that you're particularly online on social media and then any of the public meetings that we go to, we definitely hear patients that are, you know, benefit from whole plant medicine and they want to see that on the menus. There's not currently a major discussion at the legislature surrounding that. And I think that that's in large part due to the we had a lot of other cleanup to do to get the program up and running. However, you know, I think that there is a good bit of momentum out there with the patient side being active, talking about it and the fact that Florida, you one of our neighbors, they just launched their flower sales in Arkansas is as much their program and their flower only right now. So regionally, we're seeing some motion on that. And I think that that's going to be the key to seeing this this change over time, getting the patients that whole plant medicine. So I would imagine 20, 21 would be a year that that something like that may get targeted realistically.
Larry Mishkin: [00:12:38] Ok. Good.
Jim Marty: [00:12:41] Excellent. That's out there very much. Yeah. Thank you, Peter. That was a great update. You know, the purpose of this show is to to share what's going on around the country, in the world of Cannabis.
Larry Mishkin: [00:12:53] You know, I feel, Larry, like we're in the center of a giant wave of this industry getting off the ground as we talk about what's going on in all the states. And it is really just the beginning. The oldest Cannabis companies are maybe 10 years old. Maybe a little older in California. But yeah, my days are very, very busy taking phone calls and talking to people all over the country about what's going on. So and speaking of around the country, what's going on in Illinois these days?
Larry Mishkin: [00:13:26] Well, I will give you an update, first of all. Peter, thank you so much. It's always a pleasure to hear from other people and to hear about what's going on with programs everywhere else. Keep up the good work down there. That's exciting. And we'd love to get updates as our program moves forward. I know Doyle's is popular visitors destinations and people will always be interested to know what's happened down in that part of the world. Illinois moves forward. We're all anxiously awaiting for the applications to draw up the applications for dispensaries. I'll be dropping sometime within the next 30 days. The statute said that we would have the honor before October 1st. So here we go. There's some questions, of course, because rulemaking process in Illinois actually would seem to take a little bit longer to play itself out. But that has never stopped people in Illinois before. So I would not be the least bit surprised to see those applications stir up when they say they're going to. I think there will be want to grab hold of that momentum that's generated out there and move it forward. You're absolutely right. My phone's been ringing off the hook and it's all that I could do to stay on top of talking to the people. But I'll have questions about the program and want to know if they can get in and how it's going to work. It's exciting times for us to see it here. We don't we're we're anxious for these applications to drop so we can get moving on it and get everything going forward. But we think that it has tremendous potential. I know that most of the big medical license holders are or have already taken advantage of the opportunity by the state to prove their correct medical dispensaries and to do what purpose once and to also pick up one additional adult use dispensary for every medical one that they have. And there's already that the zoning board hearings in the city and other places as a lot of these guys vie for some of the more popular spots in the downtown Chicago area.
Jim Marty: [00:15:27] Yes. And on the production side, I believe they're allowing the existing medical cultivators to get a running start on January 1st and build up the inventory.
Larry Mishkin: [00:15:40] That's absolutely correct. They can start growing our lines up on all of their space. And that's the unfortunate part of the medical program, was it was never heavily populated. And as a result, most of the commercial growers, we're only growing on very small fractions of the actual canopy space that they had. The good news is that now they've got a whole lot of additional space to take and move into either which they believe they will be able to manufacture and produce enough. But wow, we're at product to be able to satisfy the expected sharp increase in demand come January 1st.
Jim Marty: [00:16:21] Right. Right. Well, very good. It's very exciting times around the country. So and I don't have time to get into it on this show, maybe the next show. But, Larry, you want to give us a tease on some of the zoning issues that are going on and opting in and opting out.
Larry Mishkin: [00:16:40] Yeah, that's. That's a great point, but it's really something that will take a little bit longer and we'll have to get it a the next show. But in Illinois right now, under the adult statute, municipalities have the right to opt out so long as they do so within the first year of the program.
Larry Mishkin: [00:16:56] And there are, in fact, a number of municipalities in the Chicago metropolitan area, larger municipalities, places like Naperville and Wheaton in Highland Park that have opted out or are in the process of opting out. And it's a fascinating process to me. What drives communities to decide to opt out and what it means to the program overall?
Larry Mishkin: [00:17:21] If certain population areas that we're going to be primary targets or dispensary owners are now off the table. So that's something I look forward to talking with you about next time in here. You know, if you guys have experienced anything similar in Colorado or in other states.
Jim Marty: [00:17:38] Yeah, that's all very interesting, you know, coming from the accounting and CPA side of the world at Bridge West. I'm very interested in what these opting in and opting out means for business valuations. Now, we'll talk about that more next time, too, because you have a much smaller footprint and where you can be, it makes that space that much more valuable. I agree. All right. Well, this has been a great show. I think we're going to sign off here in just a few minutes and a couple hours. We'll be heading back to the soccer arena for another. This is the big Saturday night show for fish. So this will be the big one. I'm hoping tickets loosen up through the Sunday show. We're still short a ticket or two for our crew. But anyway, I would say here, let me throw this ad really fast.
Larry Mishkin: [00:18:34] First of all, you know, when you when you're not there, there's almost nothing worse than, you know, talking to somebody who's on the bill of their three night run. Just quite frankly, there ain't no place I'd rather be. And I'm sure it's going to be great. I'm sure going to have a wonderful time tonight. They really are hitting on all cylinders. And, you know, I have to say, as a guy who very, very admittedly has cut away way leaked to the Fish Party, but as you know, I'm happy that I finally got here. It was interesting because while they were at outplayed it, we were all people were debating about the Saturday night show versus the Sunday show. Well, Sunday is the worst night of that. But of course, there's all the fish heads will tell you you could ever business I Dena. show. And don't forget the Sunday night show that they pulled out up and outplayed Valley where they were pulling out Suggs, 25 years old, and choosing people who were, you know, talking about getting married. I think that there's something to that Sunday night show business with fish.
Jim Marty: [00:19:34] And the nice thing about these shows is Monday is a holiday. So we have a day to recover.
Larry Mishkin: [00:19:41] Right. That's the best part of all. We'll have a great time, Jim.
Jim Marty: [00:19:45] Ok. over and out from the dead Cannabis show.
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