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Owners of the 37 new dispensaries around Colorado reported first week retail sales when added together, were roughly $5 million.

Colorado, the first state to allow retail recreational marijuana sales to adults age 21 and older, has projected nearly $600 million in combined wholesale and retail marijuana sales annually. The state, which expects to collect nearly $70 million in tax revenue from pot sales this year.

source: HuffingtonPost

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You might not know who Arjan Roskam is, but you’ve probably smoked his weed. Arjan’s been breeding some of the most famous marijuana strains in the world—like White Widow, Super Silver Haze, and many others—for over 20 years.

In 1992 he opened his first coffee shop in Amsterdam and has since crafted his marijuana-breeding skills into a market-savvy empire known as Green House Seed Company, which rakes in millions of dollars a year.

source: NYPost

A group of rap-star wannabes blew a $130,000 marketing loan on drugs, first-class airplane tickets and cross-country trips to entertainment festivals — where they weren’t even performing, a new Manhattan lawsuit claims.

While Bronx-based Da YoungFellaz, who have rhymed with Talib Kweli and Snoop Dogg, boast on their Web site that they “haven’t just sat around and waited for fame to land in their lap,” their legal adversaries tell a very different story.

StigmaSound, a Manhattan recording studio, says YoungFellaz Joseph Aguiar, Johnny Aguiar and Brett Officer blew through their first $25,000 loan, meant to rocket the group “toward A-level stardom in the entertainment industry,” in just three months by last October.

“The defendants used loan money . . . for illegal purchases of marijuana,” the Manhattan Supreme Court suit alleges. Read More

WarOnWeed_GWOP_Magazine

Marijuana accounted for 99.5 percent of Border Patrol drug seizures by weight at the U.S.-Mexico border in 2011, according to an analysis by Center for Investigative Reporting in California, which compiled the information into to an interactive map on its website.

The Border Patrol seized at least 1.9 million pounds of marijuana on the U.S.-Mexico border in 2011. Second place goes to cocaine, with just 7,461 pounds seized.

Of the 113,664 thousands drug seizures analyzed by the Center for Investigative Reporting from 2005 to 2011, nearly 89 percent involved marijuana. Cocaine trailed far behind, with just 7.4 percent.

Government could save $13.7 Billion Per Year by legalizing Marijuana, according to Economist.

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CARSON CITY, Nev. — After 13 years of waiting, medical marijuana patients in Nevada will soon have a legal way to obtain the drug without growing it themselves.

Republican Gov. Brian Sandoval signed SB374 into law Wednesday evening. The measure establishes the framework to make pot available to medical marijuana card holders, and imposes fees and requirements for growers, processors and dispensaries. It also contains provisions to continue to allow home-growing until 2016.

The tax revenue created will first fund the regulation of the dispensaries. Any remaining revenue will be funneled to education.

According to the National Conference on State Legislatures, Nevada is the 14th state to legalize medical marijuana dispensaries, and one of 19 states to allow medicinal pot, along with the District of Columbia.

Source

Colorado and Washington became the first states ever to legalize pot for recreational use, according to Fox News, Wednesday, Nov. 07, 2012.

While Washington and Colorado say YES to weed, the federal government still says that it is illegal.

The measure in Washington State is called Initiative 502 will “legalize and regulate the production, possession and distribution of marijuana for residents age 21 and older,” according to Fox. This also includes a 25% tax on the product.

 

 

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