Cannabis, CEO, Waldrop discussed on The Big Biz Radio Show
Don't you wish you would've bought it in two thousand nine now? Also. Don't you wish you went about in two thousand twelve when you see that dip again where we also don't you wish we'd about back in two thousand sixteen during the oil crisis. When when when we all sold off in and you got out. I mean, he would have been smart to get in there, wouldn't you? Because because you know, the Dow was a mere fifteen thousand we've got up almost double from there. So anyway, that's that's what the point. I'm trying to make is take up fifty thousand foot view. I don't take a six foot view. You'll take a look at that. Speaking of fifty thousand foot view, one of the guys who took a fifty thousand foot view in the very very lucrative hemp cannabis market is getting we'll Waldrop he's the CEO of Evie. Oh labs. Uh-huh. Dot com is their website. They're also publicy traded under the stock symbol. And we'll Waldrop CEO chairman of the board led the company from startup to nationwide presence with labs and five states. He was chairman of the board and CEO of a couple of a couple of entertainment companies believe it or not prior to this. But he joins us. He joins us here via Skype to talk about the cannabis testing, Margaret. Well, how are you? Good to talk to you get. Good. So let's let's talk a little bit about about the state of the state of cannabis the state of hamp, and I was talking to an investor today face to face from a what's called a family office that that is interested in the hemp cannabis space and was saying that the market of the cannabis market are two separate markets yet through the same. Can you can you shed some light industry professional on that force a little bit? Absolutely. Well, if you look at him and canvas they come from the same strain cannabis sativa has been known as a lesson point three percent three whereas cannabis's, no higher content. But really they are several implant center characteristics. From testing side we use the same exact testing protocol whether we're testing ham or whether we're testing. By question would be with respect to legality the American farm. The American format says that ham is a is a is a cash crop, but cannabis is not therefore federal banking laws. Don't apply to the hemp crop. But they do to cannabis talk about that piece of it. And we are we ever going to fix the banking laws here in this country regarding your business. Absolutely. Will you definitely hope? So anticipate in the near future. We'll see the venue is sex. A number of different initiatives last year. Elizabeth warren. And. Colorado. Put an initiative to make cannabis federally legal the houses now talking about making cannabis legal federally at different levels the change in control from Republican House. So we're seeing some movement in congress today, of course, now they're dealing with. Temporary shutdown. But prior to that there was a movement to legalize cannabis as relates to the far Bill that was passed the end of the year, the FDA is focusing on. Right. Industry. There are a lot of great podcasts out there right now. Mr. Want false claims made sure the industry was operating within the guidelines, and that's what they're trying to do right now as operating that fiddly derives derived from him they want to make sure that it is guy. Lies people are making false claims things of that nature and focusing solely on. Sure, what is in the in the product, not what it can do for you talk about in the product because that's the business. You guys you guys are gonna standardizing cannabis testing one of the things about the legalization of cannabis as well as the medical medical marijuana is the fact that you've got to have a series of of analyses that goes on to make sure it's safe Republicans Simpson there needs to be an infrastructure in place even child packaging needs to be put in place talking about your piece of this the testing process as your website says the description of the analytical services and everything you do in that space. Absolutely. You know, we provide types of tests provide with really important is the compliance testing. So before it can go to market while you're gonna go into a dispensary purchase cannabis related products or perhaps health food store to buy a. Derived from him. To make sure whatever your consuming is safer consumption. You know, what's in there? We're transitioning from lowly literally Bray market to a regulators on me. So if I'm a consumer I wanna make sure I know what's in there. So we're looking at what is the potency cannabis how much THC CD? How much? Basically, but beyond that impurities, right? Other is residual solvents that were used to extract that cannabis into an oil that is in that final plot that you're consuming other impurities in California with choline seven looking forward to her strange. As of January first thousand in nineteen we've added metal testing in California, we water water activity. We've also added judicial toxins affluent, AUSSIE toxins, and then lastly as more related to flour oils that are usually bait turkeys. And if there are on the label they need to validate that license accredited loudly to confirm the contents of their product. So my my question would be for for for the consumers in the marketplace. Is there is going to be a standardized best best in class sort of standardized testing that goes on across the country or across the world, even well, I mean. Innovations that are working looking standardize things right now. Is still a state by state program? So the number of pesticides that look one California is different than oriented different than what's in Massachusetts. So but really is from a consumer perspective. You know, what you're really looking for what are those NATO organic elements day, and the is that are going to impact you, and that's what's important. Appliance are multi-state customer multi-nation customer. Now, not only in the US would also in Canada. And they're looking to ensure that each other individual manufacturing locations produce a similar quality product, and they come to multi-state. National testing labs because we use the same methodology across all of our labs to ensure consistency and quality every single time. We'll Waldrop CEO president.