Joe: On this episode of the CPG and CBD University Podcast, we're joined by the host of The Cannabis Report and the CEO of US Cannabis Pharmaceutical Research and Development, Michael Patterson. We're talking everything hemp, cannabis, and even a little football. This is the CPG and CBD university podcast, and it starts right now.
I'm Joe Agostinelli, host the CPG and CBD University Podcast. If you are a returning listener, welcome back to our podcast. If you are a new listener, we are glad you found us on your podcast platform of choice. And don't forget full video episodes on our YouTube channel. That's the Global Widget YouTube channel and the YouTube channels of our brands. And this is for those of you who do watch the video episodes and they are fun. There's usually video extras and I've got a fun guest here who's always excited to be on the podcast.
Joe: And speaking of podcasts, we welcome back Michael Patterson, the CEO of US Cannabis Pharmaceutical Research and Development, but also just wrapped up season number one of The Cannabis Report with Michael Patterson podcast. We'll talk about that in a little bit, but welcome back, sir. Good to see you.
Michael: Big Joe, it's always a pleasure being on your show, big man. Always love it.
Joe: Thank you, and we'll get to your podcast and the details in just a little bit, but it's been a busy 2021, you know, in the industry. And you actually just wrapped up moderating a session over at the Inaugural Hemp Leaders Coalition that was held in Fort Lauderdale, Florida, not too far from our facilities here in Tampa. That was at the end of June. What stood out about that session and the two-day event as a whole?
Michael: Well Joe, it was something that I've never seen. It was probably one of the smallest conferences, probably 75, 80 people, but everybody in that room was a player. We had the DEA speak, the head of the DEA. We had the head, excuse me, who's over the hemp division. I was able to moderate a great session between former diplomat, Greg Dow with US government. He worked directly for the White House to negotiate contracts with the country of China for agriculture. As well as Ted McKinney, who worked for US trade representative office in the white house.
We got to hear about the federal government's plan up until the Biden administration would have been done. And we'd get an idea of what's going to be done with the USDA. Head of the USDA was there, talking. We were able to meet a lot of great people doing a lot of things with industrial hemp, as well as CBD, as well as new technology investments, cryptocurrencies, everything that's coming into the market. So it's very exciting to be in a room and feel that energy to where this industry is going to move forward. And a lot of these players are going to be in Florida, which is very exciting.
Joe: Now, well, one of the main sessions aside from the one we just talked about, centered around cannabinoid product regulation. And we've talked about this in the past. And any clue as to the FDA regulatory path here?
Michael: That is a great question. So we had a guy named Patrick McCarthy from his company, he's with Validcare. He was one of our speakers and he is currently doing the data study for the FDA to do efficacy with liver toxicity. That study should be done around August of this year. And so once that's done, it depends on when the FDA is going to release that study. The initial conclusions that I've seen publicly say that there's no liver toxicity. So the gazillion dollar question is, when's this going to happen? I don't see it happening, if this study is not done until August, September, you figured they're going to wait to the end of the year.
But between you and me, they're going to have to do something in the beginning of next year because you do not want this becoming a political issue for the current administration. So you're really going to have to start digging into this and figuring out what it's going to be. But if I had to say, I'd say probably early 2021...2022.
Joe: If you want more information on some of the initial parts of that study, we've done two parts of that podcast series with Patrick McCarthy here on the podcast on the CBD and liver health. And there's more information about that on our website. I was just on my phone looking at my podcast app to make sure those are loaded in the store. So if you're watching the video version of this, this is why i'm...
Michael: So Joe, I have to interrupt you. What you're saying is, if you're a player in this industry, you're going to be on Joe's show. That's what you're telling me. That's what you're saying.
Joe: Thank you. Thank you. Thank you for the plug. We have had Patrick a couple of times, and I'll tell you what, it is a great study and a great guy to talk to and a great conversation. We've done a lot with CBD and liver health. And as more comes out of that, we'll certainly welcome all the key players back here on the podcast. Speaking of players, we're both big football fans. Some recent news coming out of the NFL with the new commission between the league and players association, regarding grants and research into the therapeutic potential of marijuana, CBD, and other alternatives to opioids for treating pain. Your thoughts on that?
Michael: My thought is, it's a long time coming. So my company was involved. We were approaching the NFL. I can't say we had a contract with them, but we were approaching them when they were doing collective bargaining. And we were talking about...they really needed to think this through in the collective bargaining agreement, because we knew if cannabis is going to go through, this is what it's going to be. So they had two ways to go. They said either we can go and bring this and educate it and use it as a medicine and give our players resources. We proposed bringing a nurse to every team to manage this for an entire season, to figure out the performance enhancements, as well as using it as a revenue stream to be able to sell the data. Because imagine having a data on CBD for world-class athletes. We felt the NFL, this will be a slam dunk.
However, they decided to go the exact opposite direction and do a don't-ask-don't-tell policy, where they're going to tell you where they're going to test you, I think one time a year, and they give you a year's notice. So there's really no penalty. So I think it's a good step in the right direction. What you will start to see, is that I feel that the NFL is starting to feel the heat in regards to a lot of different issues. If you noticed, they started putting out thing about that there's a new commercial that said the NFL is gay, it's lesbian, it's into pride. I've never seen that in my life. And so it shows you that to me, in my opinion, cannabis and CBD is not just a medical issue. I think it's a social equity issue.
And I think the NFL can kill two birds with one stone. If they continue to move down this road and make cannabis approachable and make cannabis acceptable. And I think the Shikari Richardson situation with the sprinter, I think that's going to really push things forward as well. I think you're seeing private industry starting to push this on our own, to push the cannabis and hemp industry forward.
Joe: And speaking of the cannabis and hemp industry, you just wrapped up on season one of your new podcast, The Cannabis...season one in the box, The Cannabis Report with Michael Patterson. Tell us about it and where people can find it?
Michael: So you can find it on...you can go onto YouTube. There's the best place, The Cannabis Report with Michael Patterson. You can find us on Spotify too, just The Cannabis Report with Michael Patterson and we'll come up. And so our show format is news and fun. And so we talk about cannabis. My identical twin brother is the producer. His name is Mark. He is bald, so you can easily tell the difference. And so Mark is the comic relief. He talks about the different things and topics that do come up. And so our goal is, we bring on a guest each time and we try to educate the public, get them to start connecting those dots with the news and why it matters. And then introducing them to the great people in the industry and kind of tell everybody where it's going, and always have a good time doing it. So we'd definitely love to see you. We definitely love to have a good time. We're working on season two coming out, hopefully in the fall. And so a lot of great things happening.
Joe: And finally, speaking of the fall and the industry, where does the industry head as we get into, as crazy as this sounds, I mean, into August of 2021 and these last five months of the year?
Michael: You know, I think you're going to start to see more minor cannabinoids coming into play. I'm already starting to get more on CBGs and CDNs. The biggest thing that I see is a lot of people don't understand what those are. But I will...the general public, I mean. So, but what I'm also seeing is, I'm seeing more consolidation of the industry, but we're still gonna have people who are going to lose a lot of money. And the market's still feeling itself out, but we're starting to see some glimmers of some major players. And it's exciting because once, I think, once we see these mid-majors starting to move forward and get noticed by wall street companies about CBD and about hemp and industrial hemp specifically. I think it's going to be an exciting time. I don't expect massive growth for the rest of the year, but I feel everything's starting to come together. So the industry in 2022 will really start to build some steam.
Joe: And for all the latest news and information when it comes to the industry, don't forget you can always stay tuned to our podcast, the CPG and CBD University Podcast. But as Michael mentioned, working on season two of his podcast, that is The Cannabis Report with Michael Patterson. Find it on YouTube, Spotify, and other podcast apps. Michael, thank you, as always, for taking time to join me on our podcast, I enjoyed the conversation. We're going to have to do this again sometime soon, a lot sooner than in between the last couple episodes. We're up into the, this'll be episode number 86.
Michael: Look at you.
Joe: I know, we're getting up to 100.
Michael: That's great.
Joe: Yeah, getting up to the hundreds. So thank you. Michael Patterson, the CEO of US Cannabis Pharmaceutical and Research, my guest on this episode of the CPG and CBD University Podcast. And thank you for tuning into this episode of the CPG and CBD University Podcast, reminder that we can catch full video episodes on our YouTube channel and also subscribe wherever you get your podcasts, for notifications each week when new episodes are published. I'm Joe Agostinelli, the host of the CPG and CBD University Podcast. Thanks for tuning in.
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