Monday, May 10, 2021

#AIEye #Podcast 554: #Stocks discussed: (OTCPINK: $GTCH) (NasdaqGS: $VERI)



 

 

#AIEye #Podcast 554: #Stocks discussed: (OTCPINK: $GTCH) (NasdaqGS: $VERI)

 

GBT Begins Researching HF Antenna System, and Veritone Announces Enhancements to AI-Enabled Digital Media Hub

 

Global #AI in #Telecom to Reach $6.3B by 2026

 

Point Roberts WA, Vancouver BC – May 10, 2021  – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today’s edition of  The AI Eye-  watching stock news, deal tracker and advancements in artificial intelligence  –  featuring technology company GBT Technologies Inc. (OTCPINK:GTCH).

 

Listen to today’s podcast:

https://www.investorideas.com/Audio/Podcasts/2021/051021-AI-Eye.mp3

 

Read this in full at https://www.investorideas.com/news/2021/artificial-intelligence/05101GTCH-VERI.asp

 

Hear the Ai Eye on Spotify  

 

Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence

 

Stocks discussed: (OTCPINK:GTCH) (NasdaqGS:VERI)

 

GBT Technologies Inc. (OTC PINK:GTCH) is researching an HF antenna system for its long range radio prototype design. The company’s CTO, Danny Rittman, explained:

 

"We are investing vast efforts in our Infinia antenna system to choose an optimal solution, enabling a long distance, reliable data and voice communication. The antenna system is targeted to operate in challenging weather and terrain conditions. It is well known that RF communication is significantly affected by weather conditions, ionosphere conditions and terrain, and using an efficient antenna technology is crucial to enable reliable and steady communication at all times. Inifinia long range radio is aiming for a wide variety of essential applications among them are remote location telemedicine, emergency response and military purposes and therefore must be a dependent, fail-safe communication system. The fact that the system enables audio and data communication we believe enables a wide variety of possibilities for health, scientific, civil and military applications. An efficient antenna system is one of the most important system's components and plays a key role in its overall performance. We are going to research for the most suitable antenna system to achieve optimal, high performance and reliable operation.”

 

Veritone, Inc. (NasdaqGS:VERI) has announced significant enhancements to its cloud-native, AI-enabled media management platform, Veritone Digital Media Hub, which is powered by aiWARE, the company’s operating system for artificial intelligence. Veritone’s President, Ryan Steelberg, explained:

 

"Our enhancements to Digital Media Hub, coupled with the power of aiWARE, will give current and future media and entertainment customers a new way to visualize, edit, and engage with their content and its associated data. This will provide them with greater control over their content by increasing the accuracy of how their content is tagged, giving them more ways to export it, and helping them stay on top of what is currently available in their library, which will culminate into more licensing and revenue opportunities. Additionally, these new capabilities have piqued the interest of our state and federal government customers too, and we look forward to expanding the value of Digital Media Hub into those markets as well."

 

Global AI in Telecom to Reach $6.3B by 2026

 

A report published by Research and Markets finds that the global AI in Telecommunications market, which is estimated to be $1.2 billion in 2021, will grow to $6.3 billion by 2026 with a compound annual growth rate (CAGR) of 38 percent. An excerpt from the report’s description outlines trends influencing the growth of the market:

 

Key factors such as the advent of 5G technologies in mobile networks, growing demand for effective and efficient network management solutions have been driving the overall AI in the Telecommunication market growth. Increasing AI-embedded smartphones and the growing adoption of AI solutions in various telecom applications are likely to further drive market growth. Telecom vendors commonly use AI for customer service applications, such as chatbots and virtual assistants, to address many support requests for installation, maintenance, and troubleshooting. To improve customer experience, telecom operators are adopting AI.

 

Conversely, incompatibility between telecommunication systems and AI technology, which leads to integration complexity in these solutions, is the major restraint for the market growth. Also, the lack of skilled expertise and privacy & identity concerns of individuals are some other factors hindering the market growth.

 

Sam Mowers, Investorideas.com

 

Read and hear other editions of the AI  Eye

 

For a list of artificial intelligence stocks on Investorideas.com visit here

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About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining  the AI Eye .

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Visit the Podcast page at Investorideas.com:

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com 

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#CryptoCorner #Podcast 587: #Stocks discussed (NYSE: $UBS) (NasdaqCM: $RIOT) (TSXV: $HIVE.V)

 



 

 

#CryptoCorner #Podcast 587: #Stocks discussed (NYSE: $UBS) (NasdaqCM: $RIOT) (TSXV: $HIVE.V)

 

Ethereum Hits New ATH, UBS Group Considering #Crypto Options for Rich Clients, Riot Announces April Production Results, and HIVE Sells Norwegian Subsidiary

 

Point Roberts, WA, Delta BC May 10, 2021 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

Listen to today’s Crypto Corner Podcast:  

https://www.investorideas.com/Audio/Podcasts/2021/051021-CryptoMarket.mp3

 

Read this in full at

https://www.investorideas.com/news/2021/crypto-corner/05101UBS-RIOT-HIVE.asp

 

Get the Crypto Corner Podcast on iTunes

 

Get the Crypto corner on Spotify

 

Stocks discussed: (NYSE:UBS) (NasdaqCM:RIOT) (TSXV:HIVE)

 

Data from CoinMarketCap indicates that Ether (ETH), the native cryptocurrency of Ethereum, has reached another new all-time high trading price of $4,165 USD, and is trading for about $4,085 at press time. As for Bitcoin (BTC), the flagship cryptocurrency, it is trading for roughly $57,350 at press time, after having surpasses $59K a couple of times briefly over the weekend.

 

BNN Bloomberg reports that Swiss multinational investment bank and financial services giant UBS Group AG (NYSE:UBS) is planning ways to offer wealthy clients investments in digital currency. Not much information was given, but a source “familiar with the plan,” said that:

 

Any investment offering would be a very small portion of the clients’ total wealth because of the volatility, while options include investing through third party investment vehicles.

 

Riot Blockchain, Inc. (NasdaqCM:RIOT) has announced its April production and operational updates. Highlights include the production of 206 bitcoins, which is an increase of about 91 percent over its pre-halving April 2020 production of 108 bitcoins. As of April 30, the company holds over 1,771 bitcoins, “all of which were produced by its mining operations.” Riot also revealed that 6500 S19 Pro Antminers were shipped early this month, and that installation of these is expected to be completed in the second quarter. Upon full deployment of these additional miners with the company’s existing fleet, “Riot will have a total of 22,946 Antminers in operation, utilizing approximately 73 megawatts of energy, with an estimated hash rate capacity of 2.3 exahash per second.

 

HIVE Blockchain Technologies Ltd. (TSXV:HIVE) has announced the sale of its Norwegian subsidiary Kolos Norway AS to the local municipality Narvik under a share purchase agreement. This follows a legislative bill, approved by the Norwegian Parliament in 2018, stating that cryptocurrency miners will no longer be subject to the relief on power consumption at the same rate as other power-intensive industries. HIVE’s Executive Chairman, Frank Holmes, explained:

 

"HIVE would like to express our appreciation to the local community of Narvik, who has been supportive of the challenging position that the Company was facing. We are unfortunate that it has come to this, but glad that the property has been retained by the local community so that the community can focus on developing this greenfield property for many uses. This deal was made before myself or our CFO had assumed executive duties. We are pleased that our management team can now continue to focus on more immediate needs like upgrading our current facilities while expanding existing operations in Sweden, Iceland and Canada.”

 

Sam Mowers, Investorideas

 

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

 

Investors can trade these stocks and other ideas on our site using our list of top stock trading apps including Robinhood , Acorn, Stash  and others.

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea’s original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,  Cleantech and Climate Change , Exploring Mining  the AI Eye .

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#Cannabis #Stock News: Phyto Extractions (CSE: $XTRX.C) (Frankfurt:D2EP) Announces Michael Forbes as New CEO; @adastra_labs

 

#Cannabis #Stock News: Phyto Extractions (CSE: $XTRX.C) (Frankfurt:D2EP) Announces Michael Forbes as New CEO; @adastra_labs

 

 


LANGLEY, BC, May 10, 2021  (investorideas.com Newswire)  Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX)(Frankfurt:D2EP) ("Phyto Extractions" or the "Company") is proud to announce Michael Forbes Pharm, MBA as its new CEO and director.

 

Read this news, featuring XTRX in full at https://www.investorideas.com/CO/XTRX/news/2021/05101New-CEO.asp

 

Mr. Forbes comes to Phyto Extractions with a background firmly rooted in medicine, cannabis production and entrepreneurship. Demonstrating his knowledge and experience in the cannabis industry, Mr. Forbes has founded five cannabis medical clinics under the Concord Medical Clinic umbrella, built Clarity Cannabis and Honeycomb Cannabis to over 10 locations, and also founded the cannabis licensed production facility, Sitka Weed Works, in Canada.

 

"I am honored to have been selected to serve as the new CEO and look forward to overseeing the execution of the corporate vision of continued leadership in the recreational cannabis space through the development of brand offerings that position us as the clear choice in the mind of cannabis consumers now and in the future," said Michael Forbes, CEO. "My experience in health care, medicine, business operations and cannabis will be integral to continuing to strengthen the company's current position and planned expansion into the burgeoning medical market."

 

Having medical experience of over 16 years, Mr. Forbes has also built and operated pharmacy chains across British Columbia and Alberta, and founded a dozen medical clinics, including 3 methadone clinics in order to protect the public from drug diversion and increase accessibility to medicine.

 

Mr. Forbes graduated from the University of British Columbia in 2002 with a BSc. in Pharmaceutical Sciences, also achieving additional certification in Hormone Restoration, Age Management Medicine, and more recently, Cannabis Plant Production and Facility Management from Kwantlen Polytechnic University. He was elected to attend the Ivey School of Business for Canada's Top 40 under 40 in 2017 where he received an honorary MBA.

 

In other corporate news, Donald Dinsmore, the Chief Operating Officer of the Company, was appointed as an additional director to fill the vacancy created by the prior resignation of Blaine Bailey. Following such changes, the board of directors consists of Michael Forbes, Donald Dinsmore, Stephen Brohman and George Routhier.

 

About Phyto Extractions

Phyto Extractions is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.

 

ON BEHALF OF THE BOARD

PHYTO EXTRACTIONS INC.

 

Per: "Donald Dinsmore"

Donald Dinsmore

Chief Operating Officer and Director

Phone: (778) 715-5011

 

The CSE has not reviewed or approved of any contents of this news release.

 

SOURCE: Phyto Extractions Inc.

 

Phyto Extractions Inc. (CSE:XTRX) (Frankfurt:D2EP) is a featured Cannabis stock on Investorideas.com

 

Visit profile page

 

Disclaimer/Disclosure:

Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: XTRX is a featured cannabis stock on Investorideas.com and the cannabis potcast effective April 14 More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

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#AI #Stock News - GBT (OTC: $GTCH) is Researching an HF Antenna System for its Long-Range Radio Prototype; #Artificialintelligence

#AI #Stock News - GBT (OTC: $GTCH) is Researching an HF Antenna System for its Long-Range Radio Prototype; #Artificialintelligence

 


San Diego, CA, May 10, 2021 -
 (Investorideas.com Newswire) GBT Technologies Inc. (OTC PINK: GTCH) ("GBT”, or the “Company”) ) ("GBT” or the “Company”), defined an HF antenna system for its long range radio prototype design. Designing HF systems requires determination and specification of the transceiver devices to achieve a reliable and high quality of communication especially in adverse terrain areas. The quality of transmissions will be characterized by few major factors including frequency, signal strength, propagation disturbances, noise and jamming considerations. Ionospheric RF waves propagation such as solar-cycle, daily and seasonal variations have a direct impact on the operating conditions. These elements need to be considered in the development of an HF antenna requirements.

 

Read this news, featuring GTCH in full at https://www.investorideas.com/CO/GOPH/news/2021/05101HF-Antenna-System.asp

 

GBT is now working to determine the optimal specification for a suitable antenna system to provide its Infinia long-range radio a consistent, reliable communication at all times. An antenna frequency response is characterized in terms of effective aperture and gain and is important for reliable point-to-point (P2P) communication. These variants and others will be ascertained for choosing an effective monopole antenna for the system. The base and repeater units will be assessed separately for an optimal antenna system to support a reliable communication throughout the day, year and seasons. The Infinia radio data and voice communication system is targeted for an ultra-long range and the antenna system is a key factor. GBT will evaluate antenna types and their characteristics to achieve best results for around the globe communication. The technology is targeting a wide range of possible applications among them are remote areas health services, emergency response, modern internet services, military, and maritime communication.

 

"Choosing the correct antenna system is crucial for RF technology and can make a whole world of difference when it comes to the system’s overall performance and reception. It effects the communication’s reliability and quality. We are investing vast efforts in our Infinia antenna system to choose an optimal solution, enabling a long distance, reliable data and voice communication. The antenna system is targeted to operate in challenging weather and terrain conditions. It is well known that RF communication is significantly affected by weather conditions, ionosphere conditions and terrain and using an efficient antenna technology is a crucial to enable reliable and steady communication at all times. Inifinia long range radio is aiming for a wide variety of essential applications among them are remote location telemedicine, emergency response and military purposes and therefore must be a dependent, fail-safe communication system. The fact that the system enables audio and data communication we believe enables a wide variety of possibilities for health, scientific, civil and military applications. An efficient antenna system is one of the most important system’s components and plays a key role in its overall performance. We are going to research for the most suitable antenna system to achieve optimal, high performance and reliable operation “stated Danny Rittman, GBT’s CTO.

 

There is no guarantee that the Company will be successful in researching, developing or implementing this system.  To successfully implement this concept, the Company will need to raise adequate capital to support its research and, if successfully researched, developed, and granted regulatory approval, the Company would need to enter a strategic relationship with a third party that has experience in manufacturing, selling, and distributing this product.  There is no guarantee that the Company will be successful in any or all of these critical steps. 

 

About Us

GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.


Forward-Looking Statements

Certain statements contained in this press release may constitute "forward-looking statements".  Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website ( http://www.sec.gov).  In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products.  The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change.  However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so.  These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.

 

Contact:

Dr. Danny Rittman, CTO
press@gopherprotocol.com

 

GBT Technologies Inc. (OTCQB:GTCH) is a featured tech stock on

Investorideas.com

 

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Friday, May 07, 2021

Investor Ideas #Potcasts 561, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (CSE: $TER.C), (NASDAQ: $CRON) (TSX: $CRON.TO), (CSE: $TRIP.C) (NASDAQ: $MNMD)

 



 

Investor Ideas #Potcasts 561, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C), (CSE: $TER.C), (NASDAQ: $CRON) (TSX: $CRON.TO), (CSE: $TRIP.C) (NASDAQ: $MNMD)

 

Delta, Kelowna, BC, May 7, 2021 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca  release today’s podcast edition of  cannabis news and stocks to watch plus insight from thought leaders and experts.

 

Listen to the podcast:

https://www.investorideas.com/Audio/Podcasts/2021/050721-StocksToWatch.mp3

 

Read this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/05071XTRX-TER-CRON-TRIP-MNMD.asp

 

Hear Investor ideas cannabis potcast on iTunes  

 

Hear the investor ideas potcast on Spotify

 

Today’s podcast overview/transcript:

 

Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.

 

Today’s podcast is sponsored by Phyto Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.

 

In today’s podcast we look at a few public company announcements.

 

 

TerrAscend Corp. (CSE:TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced the grand opening of its second New Jersey medical cannabis dispensary.

 

The 6,500 square foot dispensary, located at 1865 Springfield Avenue in Maplewood, features interactive product displays and a large "bud bar'' where customers can see and smell flower products before purchasing. Patients can access a wide selection of TerrAscend's Kind Tree flower, vapes and syringes, as well as an assortment of other brands. A designated express pickup area for online orders and digital menus in the lobby make for quick and easy shopping.

 

TerrAscend is vertically integrated in New Jersey with one of the state's largest cultivation and manufacturing facilities.

 

"To say that we're excited about the opening of The Apothecarium Maplewood, would be an understatement," said Jason Wild, Executive Chairman of TerrAscend. "The size, aesthetic and throughput capacity of our new dispensary combined with the availability of high-quality Kind Tree flower, vapes and syringes from our recently completed indoor facility, sets The Apothecarium Maplewood up to be one of the top performing dispensaries in the U.S."

 

Greg Rochlin, CEO of TerrAscend Northeast, added, "Providing our high-quality products and service to patients and caregivers is core to TerrAscend's mission. I believe this dispensary sets the bar for quality in the state and I'd like to thank our team for their hard work in creating this beautiful space." Mr. Rochlin continued, "I would also like to thank the newly seated New Jersey Cannabis Regulatory Commission for allowing The Apothecarium Maplewood to be the first Commission approved dispensary in the state."

 

Red Light Holland Corp. (CSE: TRIP), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, recently provided an update on its intellectual property as the Company has received patent pending status for the customization and personalization of microdosing kits and protocols based on biometric and movement data, for the Company's natural occurring consumer goods product consisting of raw, natural and unprocessed magic truffles.

 

"Biometric data, especially our pose and the way we move, is an untapped gold mine of data that can help us understand what is happening in our subconscious. Utilizing this data to help people find the psilocybin microdose that works best for them can potentially be a breakthrough in personalization of wellness applications," said Sarah Hashkes, Red Light Holland's Chief Technology and Innovation Officer. "This innovation brings together two of the most promising tools we have to promote growth, embodiment practices and psychedelics and is part of the larger scope of scientifically based support structures Red Light Holland is creating to ensure the increase in neural plasticity caused by psychedelics is accompanied with a 'set and setting' that help people make the most out of naturally occurring psilocybin."

 

"Working with natural substances and combining them with cutting edge innovation and proprietary technology to hopefully help people as opposed to limiting people, is now the way of the future," added Todd Shapiro, CEO and Director of Red Light Holland. "Red Light Holland's progressiveness, creativity and pure belief in providing access, coupled with Sarah Hashkes' expertise, and the help of our Senior Advisor, IP lawyer and psychedelics advocate, Graham Pechenik, generates the precise combination of experience, forethought and understanding of natural occurring psilocybin to potentially prove out the benefits of and change the stigma around the use of these magical substances. Learning about these potential benefits and being a part of developing precise dosages for the betterment of consumers is now a more realistic goal for Red Light Holland."

 

Red Light Holland's newest innovation also incorporates the ground-breaking advancements in its iMicro Digital Care App and its Wisdom Truffle, further contributing to a growing technology ecosystem designed to allow consumers to obtain the greatest possible benefit from their microdosing journeys.

 

Evidence for the benefits of psilocybin continues to accumulate, and people who microdose psilocybin-containing mushrooms report improvements in mood, focus, creativity, and general well-being, as well as the amelioration of symptoms of mental health issues. (See, e.g., Anderson et al., Microdosing psychedelics: personality, mental health, and creativity differences in microdosers. Psychopharmacol. (Berl). 236, 731-740 (2019); Lea et al., Psychedelic Microdosing: A Subreddit Analysis. J. Psychoactive Drugs 52, 101-112 (2020).)

 

Meanwhile, acceptance of psilocybin continues to spread, with voters in Oregon legalizing the use of psilocybin and psilocybin-containing fungi for therapy, and numerous other jurisdictions moving toward legalization or decriminalization. Despite this growing body of evidence, and despite the increasing acceptance of its use both as a medicine and for the betterment of healthy people, little is currently known about how dosage amounts and protocols can be optimized for specific individuals. This is particularly true in the case of microdosing, and those interested in achieving the benefits of microdosing must generally rely on trial and error, or expensive coaches, and there is no assurance that either will lead to optimal outcomes. Working to overcome these hurdles, ongoing research by inventor Sarah Hashkes, CTIO of Red Light Holland, has resulted in a novel approach to microdosing, which enables personalized dosing amounts and protocols that are based on collected biometric and movement data, and correlated with the qualities and characteristics of Red Light Holland's natural products.

 

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED), a leading psychedelic-inspired medicine company announced the launch of its Project Angie to advance the development of psychedelics, including LSD, to treat pain conditions. MindMed is currently exploring two primary clinical indications for the treatment of pain.

 

For the commencement of Project Angie, MindMed will initiate a study of LSD in a severe pain indication. MindMed is currently preparing a pre-IND briefing package for this Phase 2a Proof of Concept study which it plans to submit to the FDA in the second half of 2021. In addition, the Company is also evaluating a second indication in a common, often debilitating, chronic pain syndrome.

 

Patients experiencing chronic pain represent a large and growing segment of the population and, according to IQVIA, the global market for analgesics is expected to grow over $31 billion by 2030. At the same time, overuse of opioids in the treatment of pain has contributed to the opioid epidemic in the United States and around the world. There has been little innovation in the pain market in decades and the treatment paradigm is still dominated by opioids and nonsteroidal anti-inflammatory drugs (NSAIDs).

 

Preliminary evidence, including a clinical study co-authored by MindMed collaborating researchers Prof. Dr. Matthias Liechti and Dr. Kim Kuypers, suggests that psychedelics may offer an entirely novel mechanism of action for treating pain, which could ultimately offer patients a new treatment option. The exact mechanisms by which psychedelics may carry out their analgesic effect have not been fully characterized but may involve direct effects on endogenous pain modulation pathways. This mechanism is particularly relevant as altered function, or dysfunction, of these pain modulation pathways has been implicated in a range of pain syndromes.

 

"Evidence dating back to the 1950s suggests that LSD and other psychedelics may have analgesic effects, but this treatment area remains largely untapped by companies studying psychedelics, with the majority of research focusing solely on psychiatric indications" said MindMed Chief Development Officer, Rob Barrow.

 

MindMed CEO & Co-Founder J.R. Rahn said "With the launch of Project Angie, we seek to align closely with MindMed's core mission to improve mental health and combat substance use for the many patients in need. If we can help to develop a new paradigm to treat pain, it may have the potential to greatly reduce the use of addictive medicines such as opioids currently ravaging society and its mental health."

 

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), today announced its 2021 First Quarter business results.

 

“This quarter for Cronos Group would not have been possible without the tenacious and innovative efforts put forward by every Cronos employee across our organization. In the first quarter of 2021 our results in Canada were impacted by market dynamics due to the COVID-19 pandemic and ensuing stay-at-home orders and various other restrictions. Despite this, we continued to push forward our innovation pipeline and execute on our strategy, which was a true testament to the strength of our team,” said Kurt Schmidt, President and CEO, Cronos Group.

 

“In March, we were recognized as one of Fast Company’s Most Innovative Companies for our joint venture with Ginkgo Bioworks to produce cannabinoids using biosynthesis. Our partnership with Ginkgo is critical to executing our Company’s vision: to transform industries through cannabinoid innovation. A critical component to commercializing fermented cannabinoids is a Health Canada processing license, which Cronos Fermentation received in April. Receiving this license is a great accomplishment and I am looking forward to bringing our innovative product pipeline to market over time utilizing this technology. This partnership is a global effort for our organization, and it is a great demonstration of how our research and development and innovation teams across regions work together to push critical projects forward. Last month, we also announced our U.S. Cronos Employees Political Action Committee as well as a robust Marketing Code of Conduct that all of our brands and employees have pledged to uphold. We’re proud to be on the record supporting responsible legalization efforts in the United States.”

 

Financial Results

(in thousands of U.S. dollars)

 

Three months ended March 31,

 

Change

 

 

2021

 

2020

 

$

 

%

Net revenue

 

 

 

 

 

 

 

 

United States

 

$

2,441

 

 

 

$

2,176

 

 

 

$

265

 

 

 

12

 

%

Rest of World

 

10,170

 

 

 

6,256

 

 

 

3,914

 

 

 

63

 

%

Consolidated net revenue

 

12,611

 

 

 

8,432

 

 

 

4,179

 

 

 

50

 

%

 

 

 

 

 

 

 

 

 

Gross profit (loss)

 

$

(2,963

)

 

 

$

(6,476

)

 

 

$

3,513

 

 

 

(54

)

%

Gross margin

 

(23

)

%

 

(77

)

%

 

N/A

 

54

 

pp

 

 

 

 

 

 

 

 

 

Adjusted EBITDA (i)

 

$

(37,075

)

 

 

$

(37,055

)

 

 

$

(20

)

 

 

 

%

 

 

 

 

 

 

 

 

 

Other Data

 

 

 

 

 

 

 

 

Cash and cash equivalents (ii)

 

$

1,024,450

 

 

 

$

1,128,396

 

 

 

$

(103,946

)

 

 

(9

)

%

Short-term investments (ii)

 

214,925

 

 

 

206,230

 

 

 

8,695

 

 

 

4

 

%

Capital expenditures

 

7,072

 

 

 

7,516

 

 

 

(444

)

 

 

(6

)

%

(i) See “Non-GAAP Measures” for more information, including a reconciliation of adjusted earnings (loss) before interest, taxes, depreciation and amortization (“Adjusted EBITDA”)

(ii) Dollar amounts are as of the last day of the period indicated

 

First Quarter 2021

       Net revenue of $12.6 million in Q1 2021 increased by $4.2 million from Q1 2020. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, sales in the Israeli medical cannabis market, and an increase in sales in the U.S. segment driven by new U.S. hemp-derived CBD products introductions, partially offset by strategic price reductions on various adult-use cannabis products in Canada in the second half of 2020.

       Gross loss of $3.0 million in Q1 2021 decreased by $3.5 million from Q1 2020. The decrease in losses year-over-year was primarily driven by an increase in net revenue and a decrease in inventory write-downs in the Rest of World ("ROW") segment.

       Adjusted EBITDA loss of $37.1 million in Q1 2021 increased marginally from Q1 2020. The marginal increase in losses year-over-year was primarily driven by an increase in sales and marketing costs due to brand development in the U.S. segment, and an increase in research and development ("R&D") costs driven by increased spending on product development and developing cannabinoid intellectual property. Partially offset by decreases in sales and marketing spend in the ROW segment, gross loss and general and administrative expenses.

 

 


Once again, today’s podcast is sponsored by Phyto Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.

 

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