The history of hemp in America can be traced all the way back to when the first European settlers arrived in the early 1600s. The plant was utilized in a multitude of ways like being used as paper (our own Declaration of Independence was drafted on hemp), used for ship rigging and was even used to treat ailments, just to name a few.
However, somewhere along the way between then and now, hemp and its various uses has seen a sharp decline, due mainly to its association with marijuana. Following marijuana’s classification as a controlled substance in 1970, farming industrial hemp became illegal. Since then, the fight to bring industrial hemp back into the United States has been slow and steady, with many campaigns highlighting the multitude of benefits the plant can bring for the country and its people.
One of the main benefits that are highlighted dsfrom the cultivation of hemp is its Cannabidiol, or CBD, compound. Unlike THC (the main chemical found in marijuana that gives users the sensation of feeling “high”) CBD is non-psychoactive and can provide a number of treatments for people with various health issues. Scientific research has proven time and time again, that CBD can be used to help patients with arthritis, diabetes, Multiple Sclerosis, schizophrenia, Post-Traumatic Stress Disorder, epilepsy and a number of other neurological disorders.
Today, the fight to make CBD more widely available continues, although we have made significant progress. Following this last election, twenty-eight states have now legalized medical marijuana, while eight states have legalized its recreational use, and that number continues to grow. So while using marijuana in any form is still considered illegal under federal law, public sentiment around the plant is clearly changing.
Many companies aren’t waiting for federal law to change either. With the number of states legalizing marijuana (both medical and recreational) increasing, the value of the cannabis industry could be hitting around $7 billion this year alone, and companies are moving forward to get their fair piece of that pie in their own way.
A company like mCig, Inc. (OTCMKTS:MCIG), for instance, is taking advantage of this change in public sentiment by increasing the number of services they provide. While the company originally began as a vaporizer manufacturer, it has transitioned into a large scale, full service cannabis cultivation Construction Company with its Scalable Solutions division operating in the Nevada market. This of course, is in addition to their line of CBD based products, as they are increasing their role in the industry, overall. Since the beginning of October, mCig’s share price has responded positively, increasing by 184% from lows on October 2.
But it isn’t just one company looking to take advantage of this budding space either. Other companies are looking to capitalize by further developing the research and design of its use of CBD. Vitality Biopharma, Inc. (OTCMKTS:VBIO) formerly, Stevia First Corp., has been engaged in the development of cannabinoid prodrug pharmaceuticals. The company utilizes the same process it used to make stevia taste better to produce and characterize more than 20 novel cannabinoid glycosides, or “cannabosides.” These cannabosides are novel cannabinoid prodrug pharmaceuticals that help deliver the same effects of cannabinoids but with improvements such as targeted delivery with reduced psychoactivity, a better tasting formulation for improved patient care, better oral bioavailability that provides safer and more reliable dosing, and a delayed release mechanism that could enable long-lasting, overnight relief.
Aside from this, Axim Biotechnologies, Inc. (OTCMKTS:AXIM) has been more direct in terms of their delivery of CBD as compared to other biotech focused marijuana companies. The biotechnology company is engaged in developing the treatment of pain, spasticity, anxiety and other medical disorders with the application of cannabinoids-based products. Axim currently owns a patent for chewing gum as a delivery method for its cannabinoids. The company has been responding well since the past election with its share price increasing by 233% since lows on November 11.
Medical and pharmaceutical companies aren’t the only ones looking to invest in the growing marijuana industry. Take Ubiquitech Software Corp. (OTCMKTS:UBQU) for example. The company operates a unique business approach that allows it to compete in a diverse line-up of growing markets, including the medical marijuana industry. Ubiquitech acquired HempLife Today™ which focuses on hemp and hemp-related products believed to help increase health, vitality and overall well-being. Currently, the company offers two lines of CannazALL™ CBD Oil, one grown in the states and one grown in select locations across Northern Europe. The company aims for both lines to become a popular supplement for health, general well-being, as well as immune-system strengthening. The company has responded well to the change in overall sentiment with its share price increasing by 36% since lows on November 22.
Overall, the medical and recreational marijuana industry could be set up for a boost in 2017 as new states begin to implement their laws on January 3. As the tide of public sentiment towards marijuana continues to change in the country, it would not be a surprise to see the industry and its trends continue to expand and grow.