MassRoots marijuana website back up, but financial status still uncertain
The website for cannabis technology company MassRoots is back online, but questions linger about the Denver company’s financial condition. MassRoots’ website was down for a number of days in early December, and the company – which is a month late in filing its third-quarter financial report with the U.S. Securities and Exchange Commission – reported losses of $774,638 on revenues of just $18,366 in its second quarter. It was unclear Monday if all the company’s mobile applications were working; several people reported that they were unable to register new accounts. Isaac Dietrich, the CEO and founder of MassRoots, did not immediately respond to Marijuana Business Daily’s request for comment.
– Jeff Smith
In case you missed it: MJBizCon cannabis podcasts
Covering a wide-range of topics – from marijuana data to international opportunities to how the cannabis industry is giving back – the News & Views podcasts on the MJBizTalks stage at MJBizCon in Las Vegas earlier this month provide a wealth of information. Many of the podcasts, which are frequently being updated, are now available on our podcast site.
Vitamin E acetate blamed for most marijuana vaping illnesses
The Centers for Disease Control and Prevention blames vitamin E acetate for a high percentage of lung illnesses linked to vaping. Vitamin E acetate is a thickening agent that’s been added to THC vaping products. Dr. Anne Schuchat of the CDC said it is her “conclusion” that vitamin E acetate caused illness in “the vast majority of patients.” However, she warned that even if THC suppliers stop adding vitamin E acetate, it would not necessarily make black-market THC safe as manufacturers could substitute the additive with other dangerous substances, The New York Times reported.
– Associated Press
For more of Marijuana Business Daily’s ongoing coverage of the vaping crisis, click here.
Maine needs more recreational cannabis testing labs
The rollout of adult-use cannabis sales in Maine is being threatened by a lack of testing facilities. So far, only one lab has applied to be certified as a testing facility. Maine officials are hopeful they’ll receive more applications but acknowledge the shortage of labs could slow retail sales of recreational marijuana.
An audio look at the top marijuana business stories last week
Our podcast, “This Week In … Marijuana Business News,” looks at New Jersey putting adult-use cannabis on the 2020 ballot, marijuana firm Cresco Labs inking a $50 million sale-leaseback deal, and Chicago’s mayor floating a recreational marijuana idea for minorities, among other topics.