Miesiąc: marzec 2020

Starbuds is leveraging omnichannel technology and social distancing to ensure customer and employee safety during the COVID-19 pandemic. 

The Colorado-based operator of recreational and medicinal cannabis dispensaries operates 20 locations in Colorado, Oklahoma, and Maryland. Chain Store Age recently spoke with Brian Ruden, CEO and co-founder of Starbuds, about how the company is specifically dealing with COVID-19 issues in Colorado, where it operates 13 dispensaries.

What technologies did Starbuds use to help quickly react to operational changes required by state COVID-19 regulations?
After the Colorado Marijuana Enforcement Division (MED) required all dispensaries to move to curbside service only as of March 24, we adapted quickly. Luckily, we already had online ordering set up, so our main goal was getting in front of our customers and we used all the tools at our fingertips. 

“We sent out text and email blasts and updated our website to let our customers know we had switched to curbside service only. Additionally, we encouraged customers to order ahead on channels that were already available. That said, we also had tablets available for those customers who arrived without ordering ahead so they could place an online order. While we continue to navigate through this ever-changing situation, we are also monitoring new factors such as weather and ensuring we are prepared to take care of our employees and customers.” 

What was it like on March 23 when the mayor of Denver ordered dispensaries to shut down, and then reversed the decision? 
“That day was an emotional and logistical roller coaster. When the initial decision was announced at around 2 p.m. Monday, March 23, to shut down adult-use dispensaries starting at 5 p.m. the following day, we were very concerned with how to move employees and product from Denver to other markets. We were also worried other jurisdictions might force us to close too. Then the panic buying started, and the entire corporate team was boots on the ground to help at the store level. 

“When the mayor of Denver rescinded the order a few hours later, the emotional roller coaster swung the other way. We were still crazy busy the rest of the day, but Tuesday felt more normal again. Overall, I am glad cannabis dispensaries were deemed an essential business so we can continue to service our customers.”
[Editor’s note: Starbuds operates four dispensaries in Denver]

What challenges have you experienced as a result of pivoting to a new business model? 
“Challenges included getting in front of our customers with the changes to our ordering and sales processes, supporting employees who were being asked to do things differently, figuring out a new workflow, and how to take payments. We are still refining how to do this and one change we might implement is closing earlier at certain locations to ensure safety for our employees, our customers and the communities where we operate.”

Would you be able to share insight on sales over the past two weeks? Has there been an increase in volume?
“Generally speaking, sales are higher than usual. Outside of the panic buying and ‘pantry stocking,’ most people are home now and quite uneasy, trying to navigate these times. We believe cannabis is a comfort for many, so we are seeing more consumers of late.” 

How do you see this impacting cannabis retail in the future? Will this permanently change the way people shop for cannabis?
“I think more people are being exposed to the online ordering process, which is a good thing. As our customers become more comfortable with online ordering, that will lead to comfort with home delivery for adult-use customers when that goes into effect in 2021. That said, I look forward to the time when we can get back to doing business as usual. Nothing can replace the experience of being in the store, seeing all the products, smelling the bud, and talking with your ‘budtender.’”

Investors are bullish on marijuana stocks again, and now could be the time to buy some cheap pot stocks before they take off. With the Horizons Marijuana Life Sciences ETF down more than 70% over the past year, many pot stocks are trading at their lowest levels ever. And although some have been rallying in recent days, there are still some top cannabis stocks that are trading below $5 that investors may want to add to their portfolios today.

1. Aurora Cannabis

Aurora Cannabis (NYSE:ACB) finally cracked the $1 market again on Friday, when the stock popped by double digits. The stock’s disappointed investors in the past with underwhelming earnings reports, and news that it was laying off 500 positions only exacerbated investor concerns about the company’s future. Aurora’s facing no shortage of challenges these days, and one of the most serious is its lack of cash flow. Investment banking company Ello Capital believes that Aurora may only have a couple of months’ worth of cash flow to work with, and that was in February.

But Aurora still remains a top cannabis company in the industry. It generated 56 million Canadian dollars in net revenue in the second-quarter results it released in February. Through the first two quarters of 2018 and 2019, it brought in CA$131 million in sales. And in its 2019 fiscal year, Aurora’s top line of CA$248 million was nearly quadruple its prior-year tally of CA$55 million.

The company’s only anticipating modest growth, at best, during the third quarter. And with low expectations in place, there’s potential for the stock to take off if it does well. There’s new life in Aurora’s stock of late, and this could be the start of a much bigger rally. A good performance in the third quarter could seal the deal and send the stock even higher.

2. Aphria

Aphria (NYSE:APHA) is arguably one of the safer pot stocks to buy. It’s recorded a profit in two of its last three quarters and it’s also generating much more revenue than Aurora. Aphria released its second-quarter results in January, and with more than CA$120 million in net revenue, that was nearly more than Aurora generated in two quarters combined.

But there’s one reason that Aphria may not see as much of a bounce in its share price as Aurora: It hasn’t fallen as hard. While Aphria’s stock declined 70% in the past year, that’s nothing compared to Aurora’s 90% drop in price over the same period. However, with Aphria trading at around $3.50, it’s well below its book value at a price-to-book multiple of 0.7 and a price-to-sales multiple of less than three. It may be one of the better bargains out there for cannabis investors. By comparison, Aurora trades at 0.5 times book value, but at six times its sales.

3. Curaleaf

Curaleaf Holdings (OTC:CURLF) was trading around $4 per share on Friday. The company’s coming off the release of its year-end results on March 24, which pleasantly surprised investors as the company’s revenue came in better than what analysts were expecting. Although it reported a loss of $26.6 million in the fourth quarter, its sales of $75.5 million were more than double the $32 million that Curaleaf recorded in the prior-year quarter. Analysts were only expecting revenue to reach $74.7 million in Q4. Curaleaf also reported pro forma revenue of $131.7 million, which includes pending acquisitions.

With a market cap of $1.9 billion and revenue of $221 million for 2019, investors are currently paying about 8.5 times sales for Curaleaf stock. It’s also trading at five times its book value. However, given that its sales are larger than both Aurora’s and Aphria’s revenue numbers, and with a more lucrative U.S. market that it can tap into, investors may be more willing to pay a premium for Curaleaf shares. It’s also been on a rough ride over the past year, losing more than half of its value during that time, and it could be overdue for a rally.

Which stock is the best buy today?

Despite its recent surge, Aurora Cannabis is still too big of a question mark to invest in today. From cash-flow issues to minimal growth and no profitability, there are many problems there that investors are better off not worrying about today. It’s still a top cannabis stock, but it comes with some serious risks attached to it as well. Aphria is a safer buy given that it’s at least proving to be more sustainable through its profits. But given the opportunities and the stronger sales numbers, Curaleaf looks to be the best cannabis stock of the three to buy today. And at a price of around $4, it could easily double with a few more good quarters under its belt.

U.S.-based marketers of CBD reported challenges in the fourth quarter of 2019 amid heightened competition and lingering uncertainty over federal regulations.

Charlotte’s Web Holdings Inc. (TSX:CWEB; OTCQX:CWBHF), a market leader based on sales, reported fourth-quarter revenues of US$22.8 million, an increase of 6% over the prior-year period. Its results, however, fell short of analysts’ consensus of $28 million, noted Pablo Zuanic, a research analyst with Cantor Fitzgerald, in a March 24 equity research note.

“The company explained it remains optimistic about its direct to consumer business, but regulatory uncertainty and concerns from COVID-19 temper their retail growth expectations,” Zuanic wrote.

For the year 2019, Charlotte’s Web reported a net loss of $15.6 million on revenues of $94.6 million. Its annual results compared to a 2018 profit of $11.8 million on revenues of $69.5 million.

For 2020, Charlotte’s Web anticipates 10% to 20% growth. That equates to $104 million to $114 million in revenues, versus the consensus of $134 million to $146 million, Zuanic of Cantor Fitzgerald, a global financial services firm, said in his research note.

A pending acquisition will strengthen Charlotte’s Web’s position in the over-the-counter (OTC) market. It recently entered an agreement to acquire Abacus Health, a provider of OTC topical products for pain relief and skin care, in an all-stock deal valued at US$69.5 million. Charlotte’s Web expects the deal to close in the second quarter of 2020, subject to approval of Abacus Health’s shareholders and customary closing conditions.

Charlotte’s Web announced its earnings about a week after CV Sciences Inc. (OTCQB:CVSI) reported annual sales of $53.7 million, an 11% increase over the prior year. But fourth-quarter sales plunged 34% to $9.4 million versus $14.2 million in the prior year.

“The second half of 2019 was impacted by increased market competition across all sales channels and the continued impact on retail customers as a result of the uncertain regulatory environment for CBD,” CV Sciences stated in its earnings release.

The company recognized an operating loss of $17.2 million in 2019, compared to operating income of $10.2 million in the prior year. CV Sciences attributed the decline in operating income principally to additional stock-based compensation and payroll expense of $11.1 million tied to the separation of its founders, and additional investment in sales, marketing, and research and development activities.

In the U.S., where the largest business of Elixinol Global Limited (ASX: EXL; OTC:ELLXF) operates, “a lack of clarity from the Food and Drug Administration (FDA) combined with the introduction of competitors in a crowded and unregulated market made for difficult trading conditions as FY2019 progressed,” Andrew Duff, non-executive chairman of Elixinol’s board of directors, wrote in a letter to shareholders in an annual report.

In late 2019, Elixinol Global Limited decided to focus its resources on its largest business unit, Elixinol, and divest the Hemp Foods Australia business and other assets. And in Asia, Duff said the company determined its unit in Japan was selling “non-compliant hemp-derived CBD products.”

“As part of the investigation, Elixinol Global assessed if there were any viable commercial alternatives for its Japanese business and ultimately decided there was not and to sell the company’s 50.5% interest in Elixinol Japan,” he advised Elixinol’s shareholders.

Likely adding to the challenges of public companies marketing CBD: a global pandemic that has pummeled stock prices. As of 10:01 EDT today, shares of Charlotte’s Web were up 9.3% to $6.32 on the Toronto Stock Exchange. Nearly a year ago, on April 4, 2019, its shares were trading at a 52-week high of $33.78.

Regulatory uncertainty

Charlotte’s Web and others selling ingestible CBD products in the U.S. are counting on FDA to establish a clear regulatory path that would allow CBD to be marketed in dietary supplements and perhaps even conventional food and beverages. The agency has yet to commit to a rulemaking and has reiterated its view that CBD is unlawful to be marketed in food and supplements because the compound was first studied as a drug by London-based GW Pharmaceuticals plc.

“The delay has stalled broader adoption of CBD dietary supplements within the” food, drug and mass retail segment, Charlotte’s Web stated in its earnings release.

However, Charlotte’s Web was encouraged by a recent FDA report to Congress on its efforts to regulate the CBD market.

“In our opinion, the remarks from the FDA were much more constructive, and it is positive from what we’ve heard in the past,” said Deanie Elsner, CEO of Charlotte’s Web, in a conference call with analysts, according to a transcript of the call published by The Motley Fool.

“We heard three new themes emerged,” Elsner said. “First, there is a path to set a regulatory guidance for CBD dietary supplements. Second, the dietary supplement category is viewed differently than the food and beverage categories. And third, full-spectrum CBD is different from CBD to isolate and may need to be addressed separately.”

Michael Lavery, a senior research analyst with Piper Sandler, an investment banking and asset management firm, said he anticipates “expanded distribution, product innovation and higher e-commerce sales” will drive 2020 growth at Charlotte’s Web. While Piper Sandler estimated 11% revenue growth in 2020, the firm lowered its 2020 sales estimate from $155 million to $105 million and its 2021 estimate from $310 million to $160 million.

“FDA regulation of CBD products is still evolving, adding uncertainty now, and limiting the scope of federally legal products,” Lavery stated in a March 24 note, “but clarity on FDA regulation for other products could be a positive catalyst and could drive upside to our estimates if it comes before mid-2021.”

Starbuds is leveraging omnichannel technology and social distancing to ensure customer and employee safety during the COVID-19 pandemic. 

The Colorado-based operator of recreational and medicinal cannabis dispensaries operates 20 locations in Colorado, Oklahoma, and Maryland. Chain Store Age recently spoke with Brian Ruden, CEO and co-founder of Starbuds, about how the company is specifically dealing with COVID-19 issues in Colorado, where it operates 13 dispensaries.

What technologies did Starbuds use to help quickly react to operational changes required by state COVID-19 regulations?
After the Colorado Marijuana Enforcement Division (MED) required all dispensaries to move to curbside service only as of March 24, we adapted quickly. Luckily, we already had online ordering set up, so our main goal was getting in front of our customers and we used all the tools at our fingertips. 

“We sent out text and email blasts and updated our website to let our customers know we had switched to curbside service only. Additionally, we encouraged customers to order ahead on channels that were already available. That said, we also had tablets available for those customers who arrived without ordering ahead so they could place an online order. While we continue to navigate through this ever-changing situation, we are also monitoring new factors such as weather and ensuring we are prepared to take care of our employees and customers.” 

What was it like on March 23 when the mayor of Denver ordered dispensaries to shut down, and then reversed the decision? 
“That day was an emotional and logistical roller coaster. When the initial decision was announced at around 2 p.m. Monday, March 23, to shut down adult-use dispensaries starting at 5 p.m. the following day, we were very concerned with how to move employees and product from Denver to other markets. We were also worried other jurisdictions might force us to close too. Then the panic buying started, and the entire corporate team was boots on the ground to help at the store level. 

“When the mayor of Denver rescinded the order a few hours later, the emotional roller coaster swung the other way. We were still crazy busy the rest of the day, but Tuesday felt more normal again. Overall, I am glad cannabis dispensaries were deemed an essential business so we can continue to service our customers.”
[Editor’s note: Starbuds operates four dispensaries in Denver]

What challenges have you experienced as a result of pivoting to a new business model? 
“Challenges included getting in front of our customers with the changes to our ordering and sales processes, supporting employees who were being asked to do things differently, figuring out a new workflow, and how to take payments. We are still refining how to do this and one change we might implement is closing earlier at certain locations to ensure safety for our employees, our customers and the communities where we operate.”

Would you be able to share insight on sales over the past two weeks? Has there been an increase in volume?
“Generally speaking, sales are higher than usual. Outside of the panic buying and ‘pantry stocking,’ most people are home now and quite uneasy, trying to navigate these times. We believe cannabis is a comfort for many, so we are seeing more consumers of late.” 

How do you see this impacting cannabis retail in the future? Will this permanently change the way people shop for cannabis?
“I think more people are being exposed to the online ordering process, which is a good thing. As our customers become more comfortable with online ordering, that will lead to comfort with home delivery for adult-use customers when that goes into effect in 2021. That said, I look forward to the time when we can get back to doing business as usual. Nothing can replace the experience of being in the store, seeing all the products, smelling the bud, and talking with your ‘budtender.’”

The Association for the Cannabinoid Industry (The ACI) today outlined new plans for The ACI CBD Safety Certification programme.

The Association for the Cannabinoid Industry (ACI) Certification is a key part of The ACI’s vision for a sustainable future for the UK CBD sector and further emboldens The ACI’s mission to nurture an industry that puts public safety first.

The initiative has been launched exactly one year before the FSA’s new CBD safety regulations come into force, which excludes all CBD food products from sale in the UK without a validated Novel Foods application dossier. It also follows the FSA’s recent CBD safety advice announcement.

Dr Parveen Bhatarah, Regulatory Lead at The ACI, said: “The UK has the necessary skill sets and talent in chemistry, agriculture, international business, and the regulatory requirements of the cannabinoid industry. Especially when it comes to CBD, we have the knowledge needed, from growing, to extraction and creating finished formulations. Consumer safety is the key for the CBD sector. The UK is ready to lead the global CBD industry.”

CBD certification

The highly anticipated ACI Certification will be composed of three tiers, each representing the necessary steps to gaining full Novel Foods Authorisation from the appropriate regulatory bodies.

Tier 1 – Certified

An ACI member has proven to comply with The ACI’s 7 pillar Quality Charter. This means that they have passed an audit, from The ACI, verifying they have a quality management system in place that ensures they operate to best manufacturing standards. Expect companies to start displaying this mark on their products by the end of the summer 2020.

Tier 2 – Validated

To gain The ACI Validation a company must have their Novel Foods application validated by the FSA (Food Standards Agency) and/or EFSA (European Food Safety Authority). The ACI will support its members throughout this process to ensure they submit appropriate scientific dossiers to receive validation. This is a legal requirement to keep products on the market in the UK after 31March, 2021. The first companies should gain this level by the end of 2020.

Tier 3 – Authorised

This Certification will be granted when a company has had their Novel Foods application authorised by the FSA and/or EFSA. The ACI will support its members throughout this process. This will be subject to annual review.

The ACI Certification will bring a level of trust to the industry that until now has been lacking. Over the last 12 months the UK CBD industry has been rocked by a series of scandals relating to what CBD products on the shelves actually contain.

The industry gained clarity on February 13, 2020 when the FSA announced clear guidelines for companies operating in this space.

To facilitate this new drive for safety and quality The ACI is establishing a new Regulatory and Compliance Unit, under the leadership of Dr Parveen Bhatarah, to support its members with both The ACI accreditation and Novel Foods dossier development.

Comprehensive Safety Assessments for CBD

The Novel Foods authorisation process is a safety assessment of CBD. The ACI is gathering, with the collaboration of toxicology experts, Novel Foods experts and our members, the necessary safety and toxicology data to build robust Novel Foods authorisation dossiers for The ACI members.

Submitting credible Novel Foods authorisation dossiers is the only way the industry can stay on UK shelves, as a food supplement, beyond the FSA’s deadline of 31 March, 2021.

The ACI Certification will finally give consumers and retailers confidence in CBD products on the market in the UK. This will give the UK an invaluable lead in the global CBD industry.

Using a CBD salve.

beam CBD

As vital as it is to maintain your physical health during this epidemic, it’s important not to overlook mental and spiritual well-being. An increasing number of consumers are turning to cannabinoids (CBD) to safeguard all three. Boston-based brand, beam is leaning hard into the space with a product it claims can benefit both body and mind. And the company is doing its part to share those benefits with people who need it most.

Through April 6th, beam is offering a 50% discount to all medical professionals placing an order online. During the COVID-19 crisis, an additional 10% of net sales are being donated to the Greater Boston Food Bank. The leading hunger-relief agency of New England is providing assistance to communities most at-risk.

“As we navigate these challenging times, it’s very important to beam to maintain our ‘people first’ ethos,” says Kevin Moran, a former MLB star who co-founded the company with fellow professional athlete, Matt Lombardi. “This means we take care of ourselves, our teammates and our community equally, and advocate a holistic approach to wellness where our products are a complement to a healthy, active lifestyle.”

To that last point, beam is offering live Instagram sessions featuring meditation and high-intensity interval training. For those that are looking to maintain a workout regimen while the gyms are closed, this is a great way to share the experience with some of the brand’s 48,000 followers. Post-workout, you can restore yourself with The Fixer, one of their top-selling products, designed to aid in soreness and fatigue.

The tincture is designed to provide relief from soreness and fatigue following a heavy workout.

beam CBD

Already a rapidly growing market, CBD sales are expected to spike in the weeks ahead. Consumer researcher shows that majority of users turn to the non-psychoactive hemp extract to deal with issues of anxiety—which will be in no short supply as the country sustains the practice of social distancing.

The good news is that as these brands take in added sales, many of them are giving it right back to worthwhile causes. Crazy Calm, a CBD coffee company based in Austin, Texas, is donating all profits from online orders to DirectRelief.org, an organization providing healthcare professionals with medical resources. Smile, makers of CBD gummies, is directing its proceeds towards the UN’s COVID-19 response fund.

Of course, you don’t have to be a CBD consumer in order to contribute directly to these charitable endeavors. But if you are looking to explore the purported benefits of cannabinoids, now’s a great time to dabble.

CBD Coffee

Crazy Calm

It wasn’t too long ago that if you asked somebody what CBD was, they would look at you with a puzzled expression on their face. Today, CBD is on everyone’s lips, dominating the conversation on medical cannabis and its therapeutic effects and being touted as a health supplement at nutrition stores. It can also be purchased online and found in department stores, drug stores, grocery stores, gas stations and, of course, dispensaries.

With CBD’s popularity comes a learning curve for the discerning consumer. In order to find the best product for their needs, consumers need to know the terminology around CBD products.

First, What Is CBD?

CBD, or cannabidiol, is a non-euphoric cannabinoid found in both hemp and high-THC cannabis. Cannabinoids are a closely related group of chemical compounds, which work synergistically together and with the other chemical compounds that make up the cannabis plant. CBD can be used for symptom management for things such as anxiety, certain types of seizures, inflammation and pain. It also has been found to have value in cosmetic use.

It’s worth noting that much CBD on the market today is derived from hemp, rather than cannabis, because hemp is federally legal. Hemp and cannabis are the same species, cannabis sativa, but they’re separated by an arbitrary legal definition that defines hemp as having less than 0.3% THC when tested.

Understanding CBD

Many people like to say CBD is not psychoactive, but that would be incorrect. “Psychoactive” is a term used to describe a substance that changes a mental state by affecting the brain and nervous system. Though CBD will not cause euphoria or intoxication, it may change a person’s level of anxiety or depression, which in turn would affect their perception of the world around them.

With the great interest in CBD and its effects come a large number of products and companies to choose from. The hemp CBD market is currently unregulated, so buyer beware. Be an empowered consumer: Look for lab tests to show that the product was properly made and verifies cannabinoid content. If you don’t see one, ask for it. A good company will always have test results available.

Broad Spectrum vs. Full Spectrum vs. Isolate

When you are exploring different high-CBD products, you’ll notice that their content is described in different ways: broad spectrum, full spectrum and isolate. The difference between these three is the extraction method and the content of the resulting product.

Full spectrum means that the product contains most of the naturally occurring cannabinoids and terpenes of the plant, including THC, and most often it has been minimally refined. This means that the synergistic effects of the chemical compounds in the concentrate remain intact. These products will present themselves in ratios of CBD to THC and will vary in effects.

Broad spectrum is similar in that it contains most of the naturally occurring cannabinoids and terpenes of the plant, but does not contain THC. This may be a good choice for those who are sensitive to THC, but wish to maintain the benefits of the other naturally occurring cannabinoids and terpenes.

Isolate contains only CBD, as the extraction process purposely isolates the desired cannabinoid from other cannabinoids and terpenes. It will have a much higher percentage of CBD than full or broad-spectrum extractions. This product is highly refined.

CBD Hemp Oil vs. Hempseed Oil

Some people may be confused about the difference between CBD oil derived from hemp and hempseed oil — and it’s worth knowing the difference, because only one of those oils contains beneficial cannabinoids.

CBD oil from hemp is extracted from the flowers and leaves of the plant and, though rich with CBD, it contains less than 0.3% THC. It is used as a health supplement and for symptom management.

Hempseed oil is extracted from the seeds themselves, which contain no cannabinoids. Hempseed oil is great for the skin and very nutritious, as it is rich in in antioxidants, amino acids, vitamin E and omega fatty acids. Hemp seeds or hemp hearts from which the oil is extracted are also very nutritious, as they are rich in protein and fiber as well. You won’t have the same therapeutic effects as with CBD oil, but it is another tool for health.

TELL US, do you use CBD?

Originally published in Issue 40 of Cannabis Now. LEARN MORE

In the news, you may have seen stories about how the claims on the label are wrong when it comes to hemp products. While there are a minority of products with CBD levels that are drastically different from the claims on the label, most products are within a reasonable, fair range. At Real Tested CBD, we tested major brands to see how their CBD and THC levels compared to the label’s claims. In the majority of cases, these claims are fairly close to the advertised amount of CBD and THC.

Most Brands Are Reasonably Accurate

While there are always outliers out there, most brands are fairly close to having the correct amount of THC and CBD. In fact, most of the brands we tested were within an acceptable range of 30 percent. Unfortunately, there were a couple of bad brands that were consistently too low or too high. In these cases, the brands were more than 1,000 milligrams short of the amount advertised on the label.

The Six Least Consistent CBD Product Label Claims

When it comes to consistency, the following brands are the worst. The first three have drastically more CBD than they are supposed to. Then, the next three brands have significantly less CBD than they advertised on their labels.

The Highest Offenders List

• Paw CBD Chicken and Catnip Soft Chews: This brand is shockingly off. Paw by CBDMD has 2,021.07 milligrams of CBD in every pack. According to the package, it is just supposed to have 300 milligrams. This means that you are giving your pets a dose that is nearly seven times higher than what you think it is.
• PAW CBD Apple CBD Oil for Horses: Paw by CBDMD makes the list a second time with this product for horses. While the product is supposed to have just 5,000 milligrams, the bottle actually contains a total of 6,701.17 milligrams instead.
• Vena CBD Tincture: This oil is supposed to have 3,000 milligrams of CBD in it. Instead, it has a whopping 4,160.54 milligrams.

At the other end of the spectrum, there are brands that sell products that contain very little CBD. They advertise CBD levels that are more than 1,000 milligrams higher than the actual amount of CBD.

The Lowball Offenders List

In most cases, the labels are just slightly optimistic about their CBD content. The previous brands are just outliers in the industry. While it may sound great to get more CBD than you paid for, you do not want to take too much CBD unintentionally. On the other end of the spectrum, you could end up taking CBD products that do not have enough CBD to do anything.

Out of all of the products, PAW by CBDMD was the worst offender. Some of their products had 12 milligrams more than they were supposed to in each dose. This means that a soft chew that was supposed to have 2 milligrams of CBD actually had 13.47 milligrams of CBD. Instead of having just enough CBD to treat a cat, these soft chews had a dose that was large enough for a human. To make the situation worse, two of their products had almost no CBD at all. Because of this, some consumers may have been buying pet treats that had no medicinal value.

Thankfully, this problem is only present in a small minority of products. Even when the actual CBD level is only slightly off, it is still important to know this fact because you need to take an exact dosage. By looking up the product’s actual amount of CBD found by a third-party laboratory, you can ensure that you always get what you pay for. To learn more about the CBD oils, CBD gummies and other various products that you have been consuming, visit Real Tested CBD.