Ohio Sells $75k in Successful First Day of Sales

Ohio Sells $75k in Successful First Day of Sales

PUBLISHED ON JANUARY 22, 2019, BY MASSROOTS

The four medical marijuana dispensaries that were open for business, on the first day of sales in Ohio, collectively sold 8.7 pounds of dried cannabis flower. According to the Ohio Medical Marijuana Control Program, that total volume generated $75,000 in sales. There are 60 licenses available in Ohio, but only four dispensaries were fully approved and stocked with product on January 16, 2018, the historical first day of legal sales.

The four dispensaries are:

CY+ Dispensary, 180 Main St. in Wintersville, OH

The Forest Sandusky, 1671 Tiffin Ave. in Sandusky, OH

Ohio Valley Natural Relief, 840 Canton Rd. in Wintersville, OH

The Botanist, 3840 Greentree Ave. SW in Canton, OH

While products for other methods of delivery, like edibles, capsules, tinctures, and topical lotions may be manufactured in Ohio, dried flower was the only form available on the first day.

The Ohio Tenth

Unlike the regulated markets in states like Colorado and Washington, all medical marijuana flower in the Buckeye State must be sold in packages measured to one-tenth of an ounce, known as the “Ohio tenth.” One-tenth of an ounce is 2.83 grams. This is slightly different than how it is typically done at dispensaries in other legal states, and on the black market, where flower is often sold by the gram, the eighth of an ounce, quarter of an ounce, and so on, all the way up.

The Price You Pay

As initially high prices were shocking to some patients, the cost of medical marijuana in Ohio is expected to drop slightly as more dispensaries open, and a wider variety of products become available. Joan Caleodis, 55, is credited as the first person to purchase medical marijuana in Ohio. Joan reported that she paid $150.00 for three of the one-tenth ounce packages of the same indica strain. “I’m ecstatic patients are no longer waiting for relief,” Joan said.

Home cultivation remains illegal, so patients have no other legal option but to pay whatever the going rate is for medication at the dispensary. “I understand the need to make back the money they put in, but this is – my god,” said Ken Horner, 65, who drove 3.5 hours from Dayton to CY+ Dispensary in Wintersville.

Patient Cards

Are you a patient suffering from one of the conditions that qualify for medical marijuana in Ohio? Do you still need to apply to the program? Follow this link to learn how to get a medical marijuana card in Ohio.

Photo courtesy of Chris Crook

Source: Ohio Sells $75k in Successful First Day of Sales


 





 

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Marijuana social media company Massroots is making a big bet on software

(Compliance is a huge problem facing cannabis companies.REUTERS/Andres Stapff)

Massroots, a technology platform for cannabis consumers, is acquiring CannaRegs in a stock deal for $12 million, multiple sources told Business Insider on Wednesday.

The acquisition allows MassRoots to become a one-stop shop for cannabis businesses to connect with customers and ensure they’re in compliance with all state and federal regulations, Massroots CEO Isaac Dietrich told Business Insider in a phone call on Wednesday.

The acquisition is part of a larger push to consolidate Massroots’ business-to-business offerings. Massroots, founded in 2013, is a user-driven social media platform for marijuana consumers. The company is now seeking to expand its software services.

It “expands MassRoots’ compliance offerings, consolidating the most important operations for cannabis businesses into one central platform,” Dietrich said.

CannaRegs, started in 2014 by Amanda Ostrowitz, a former Federal Reserve regulator and licensed attorney, is a subscription-based service that provides businesses access to all local, state, and federal cannabis-regulations.

Dietrich notes that CannaRegs is cash-flow positive and debt-free, and it’s one of the few cannabis companies with majority-female leadership…

Finish reading: Marijuana social media company Massroots is making a big bet on software