Interactive Health Network reaffirmed that it remains strategically committed to executing in the legal cannabis market, is finalizing its Scientific Advisory Board to set future product strategy, and will initiate sales and marketing efforts for these products in the first half of 2015.
The company continues to monitor and make strategic moves to leverage its knowledge and investment in the legal cannabis market.
Fred Schiemann, CEO, states, "When Interactive Health Network entered into the legal cannabis market in the spring of 2014, the Company viewed it as a long term strategic business opportunity and fully expects cannabis/marijuana to be fully legalized in America."
According to a release from the company, there has been significant progress in the legal cannabis market recently.
As reported last week, "Colorado will spend more than $8 million researching marijuana's medical potential -- a new frontier because government-funded marijuana research traditionally focuses on the drug's negative health effects. The grants awarded by the Colorado Board of Health will go to studies on whether marijuana helps treat epilepsy, brain tumors, Parkinson's disease and post-traumatic stress disorder. Some of the studies still need federal approval. Though the awards are relatively small, researchers say they're a big step forward. While several other federal studies currently in the works look at marijuana's health effects, all the Colorado studies are focused on whether marijuana actually helps. "This is the first time we've had government money to look at the efficacy of marijuana, not the harms of marijuana," said Dr. Suzanne Sisley, a Scottsdale, Arizona psychiatrist who will help run a study on marijuana for veterans with PTSD.
Additionally, as stated in its prior news release, states with legal hemp cultivation and medical marijuana programs just got historic support from Congress. Included in the federal spending bill were amendments that prohibit the Department of Justice from using Federal funds to go after state medical marijuana operations and also block the Drug Enforcement Administration from using Federal funds to interfere in state-legal industrial hemp research.
"With the states passing changes in laws relating to the production and use of cannabis products and the fear of violating the laws on both the Federal and State levels being eliminated, we see vast opportunities in this market both on the production of the cannabis, the products being produced and the ancillary services that will be offered. The support of the Colorado funding and the expectation that other states and agencies will follow suit will open up opportunities opening for the development and marketing of cannabis products that will be legal for sale both in the United States and abroad. The Company success will be built on designing and creating cannabinoid products in the interim that are legal at the Federal level for clinical, cosmetic, health, alternative healing, herbal and other health needs while constantly monitoring and evolving its product and business strategy as law changes permit," stated Fred Scheimann, CEO.
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