Oklahoma’s marijuana industry has been growing at a rapid rate and a lot of sectors are benefitting from this. It was just recently approved and is now hitting the sky with lots of applicants and licenses approved every month.
But at this rate, it might do more harm than good. While it may look good to some, it might just be a bubble waiting to burst. It’s growing at such an alarming rate that adjustments have been made, even for the agency. Will the bubble burst?
Thousands of Licenses Approved
Ever since the Oklahoma Medical Marijuana Authority (OMMA) started accepting applications from businesses, the number of applicants just kept on increasing. Thousands of applications were sent and a lot of them were approved.
OMMA has its own Twitter account where it constantly updates the number of card or license applications being received from patients, caregivers, and businesses. The number of business license applications is further broken down to growers, dispensaries and processors.
OMMA tweeted on June 17, 2019 that they have received over 5,800 business applications. Previously, they have already approved about 3,211 growers, 1,548 dispensaries, and 859 processor licenses.
This rate gives us the idea that the numbers will not go down anytime soon. In fact, it might just spike up before the year ends. There’s a lot at stake with the growing numbers and the bubble might just indeed burst before we know it.
Customer to Dispensary Ratio
Indeed, more than a thousand dispensary licenses have been approved. It’s a clear sign that lots of Oklahomans wanted to put up their own dispensary. It’s not a wrong thing to venture in this million dollar market.
After all, a lot of opportunities were created. From jobs to new kinds of skill sets, it was surely enticing to participate in it. But with such a large number of dispensaries open, the ratio of customer to dispensary is also dropping at a fast rate.
As of the moment, the estimate number of customers each dispensary might have would be around 77 patients. That would be okay, if these customers buy the maximum. But it could also mean that the dispensary would meet their breakeven.
The number of patients might be increasing but so are costs. These dispensaries are taxed pretty high which eat up most of their profit. And those who didn’t anticipate such changes would not be able to make profit and would soon close down before the year ends.
This kind of situation isn’t new. This happened in a lot of other states, with the first year of legalization looking so promising. But all of that toppled down when more regulations come in and the costs get harder and harder to balance.
All these dispensaries can do is to fight for the top spots and create a pool of loyal customers. Once they’ve established that and surpass breakeven sales, they might have a chance at lasting in the industry.
Different Kind of Obstacles
Another obstacle that the medical marijuana industry faces is that banks don’t want to deal with anything that’s related to it. On the federal level, MMJ is still an illegal drug and it has not yet been approved by the FDA.
This means that most banks would shy away from dealing with businesses that are part of the industry. It’s a really difficult position to be in since business owners need to place there cash somewhere, and if banks won’t allow it, where else would they put it?
It’s also a question on how these business owners could expand their business if they’re not going to be approved for loans or any credit in the future. The industry has been earning millions and it’s already becoming a headache talking about storage.
Insurance companies also shy away from insuring cannabis businesses because they’re afraid of getting into legal perils in the future.
It’s not just the businesses who are directly connected to marijuana that are struggling, but it’s also other businesses who give them supplies or even landlords who rent out spaces. There are so many consequences that stem from having any kind of interaction that most of these businesses are at a buzzkill.
As you can see, it’s just that increasing number of applications that would be a threat to the whole industry, but even banks, insurance firms, or landlords could burst the bubble. While the industry is still approaching the peak of its success, it might just hit rock bottom sooner than we think.
Let’s just hope that the OMMA would find ways to slow down on the number of licenses approved and find ways to help these business owners transact legally. If something won’t be done, it’ll just burst one of the most promising bubbles we’ve had in year. To know more about medical marijuana in Oklahoma, visit this website: https://www.veriheal.com/oklahoma/.…
Roland Sands is really pushing the envelope with his designs, and this time he has a surprise for us. Similar to his KRV5 Tracker creation, when he used a full MotoGP spec’s motorcycle (and some help from Kenny Roberts JR.), Roland is chopping the uber-bike – the Ducati Desmosedici !!! Now since it’s debut in 2008, this bike remained a true and only street legal MotoGP bike available for general public. Stock machine delivers a brutal 200hp with the redline at 16,000rpm! Weight – 377 pounds.
Now for the rest – go through the RSD blog and check the progress so far. For the time being the bike is in “stage 2″.
The sub frame has been complete as well as the gas tank base/airbox cover, top and sides. We utilized many of the Desmo’s original lines while giving it a large radius and lowering the tank considerably from the stock position. We machined a new fuel pump base and mounted it in the bottom of the tank above the exhaust exit and rear cylinder head at an aesthetically pleasing angle. This will allow us to keep the sub frame area as open as possible as we plan on doing trellis bracing in that area and don’t want to have a jumble of wires and hoses in that area.
The Ducati Demosedici completely blew away the motorcycle world in its debut in 2008. The only true, street legal Moto GP race bike made available to the general public. With a limited production of 1,500 units worldwide, the 500 shipped to the US sold out in just 5 hours! This box-stock V4-powered machine cranks out 200 HP, redlines at 16,000 RPM and weighs in at a nimble 377 lb. What more could you ask for?
Well, our good friend Justyn Amstutz (owner of 3 Desmo’s) is not one to leave anything alone. We already did the teardown on his ZERO-mile bike in order to start converting it into our version of a street legal, “Street Tracker”. All of the bodywork was preserved to allow him to use as spares in case he lays down one of his other Desmos. We started mock up of the project by putting it on some spoked wheels with flat track race tires. We then fab’d up a subframe, and started on creating the tail section and aluminum gas tank to get that flat track inspired appearance.…
Following the trend of direct partnership between Rizoma and Kawasaki, here is a new state-of-the art offer of the Rizoma Research and Development department. A new luxury kit is already available for the latest Ninja ZX10R. This kit, in part or in its entirety, will further enhance its unique sporting essence of this amazing bike.
This includes a series of protections (wheel, fairing and engine) for your bike, in the event of a fall, while the new rear sets give the rider the ability to adjust the riding position more accurately, to suit his needs.
Their LED turn signals can be fitted in front of the fairing and at the rear license support plate.
The latter has characteristics similar to all the RIZOMA support plates, in regards to adjustments and quality standards.
When we think about McLaren, we usually associate it with the lenghty and successful Formula 1 history, McLaren F1 supercar and the latest addition in their car range, the MP12-4C. But we never think about bicycles…and that something that McLaren would like to change. UK based factory set out to create the fastest complete performance bicycle in the world. With modern aerodynamics road bikes having sacrificed too much, losing stiffness and gaining weight, McLaren simply weren’t willing to compromise.
Now what we like the most: numbers. The bikes frame weighs only 950g! (2.1 lbs approx.), with the whole module (frame, fork, seatpost and crankset) tipping the scales at 2.07 kg!!! (4.5 lbs). And get this – this bike has an electronic gearshift…It will be available in two specifications, namely the McLaren and the S-Works Venge.
“We can optimise a bike to levels that have never been achieved before,” said McLaren Applied Technologies’ design director Duncan Bradley at the bike’s launch, at Woking.
The pro road bike will make its competition debut from as early as this Saturday’s Milan-San Remo race, where it will be entered by Briton Mark Cavendish (HTC-Highroad). Additionally, the S-Works McLaren Venge will also be ridden by several drivers from the Astana and Saxo Bank-Sungard teams.…
KTM Freeride was quite big news last year, but somehow went into oblivion over the course of winter. The design of this motoMX electric bike surprised everyone – it still had an appeal of motocross bike with internal combustion engine, while electric power unit produced enough juice and reduced overall weight of the bike. The mass production should start in late 2011, and as it was first presented there will be two versions available: Offroad and Supermoto.
The bike should be one interesting ride as the Some specification is available like 30HP, 43Nm of torque and total weight of 90kg.
This is what the partnership between Ducati and AMG is all about. Fresh promotional video for newly launched Mercedes-Benz C63 AMG Coupe features a beautiful 848 EVO bike, probably one of the sexiest models from the whole Ducati range. And some subliminal messages are there as well. For example, the C63 is one of the smallest models from the AMG range, but again plenty quick and stunning car. 848 is in essence the same, one of the smallest bikes in Ducati range, but with 140HP, seriously quick.
As we saw till today, Diavel was connected to CLS AMG 63, and we would be too far from truth if we say that 1198 can be connected to SLS model from AMG. As this is a promotional video for the car, it’s not hard to guess who won the race on twisty and scenic roads. In the real life we would go for the bike, naturally 🙂 . But for the pure pleasure of listening to the sounds and looking at magnificent sights, you can go better that these two video clips we found for you. Enjoy.
First there were pictures. And then the teaser. Now, the complete thing – latest short film featuring gorgeous Keira Knightley for Coco Chanel’s perfume. Along sexy biker Keira, there is another nice object in the set, a cream Ducati 750SS, making this two bodies unified in complete harmony.
We bikers never liked our women too thin or too flat, but Keira is an exception to the rule 🙂 . Her charisma and sensuality leaves us speechless.…
We know that Max Biaggi have a bad temper, but where is the limit to this, and when does his behavior becomes simply tasteless and rude? Max Biaggi stopped by Marco Melandri’s pit box after qualifiying, as they had couple of close moments on the track. Basically what happened, Max didn’t want to give way to Melandri while he was on his quick qualifying lap, and then Melandri did the same thing to him. Max didn’t spare other riders as well, and he managed to ruin Haga’s quick lap also.
What happened next in the pits is that Max gave Melandri a disciplinary slap! He tried hard to make it look like a friendly tap, but that was a full slap. Even Marco Melandri didn’t know how to react, as the cameras were rolling. For this unsportsmenlike conduct, Biaggi was fined for 3000 euro (not substantial enough for him not to do the same again) and Melandri went with a verbal warning from WSBK race direction. All in all this wasn’t enough to overshadow the dominance of Carlos Checa on his non factory Ducati.…
The average naked Triumph changed it’s looks. The new styling trend of the English brand affected the 2012 Street Triple and Street Triple R as well as their older sibling – the Speed Triple. They all received an “eye lifting” treatment, with the smaller Street Triple being the later one for this change. We say goodbye to headlights looking like they were coming out of the comic book, and welcome the new slanted, more aerodynamic and technologically improved ones. Small naked bike from Hinkley has been de-chromed as well, replacing chromed exhaust, rider footpegs and handlebar raisers with stainless steel.
The chrome is now considered less and less sporty, and gradually disappears from the sports bike sector, remaining dominant as an styling element of cruiser bikes.
Street Triple R, is not that different from the less spec’d version, as it remains same in aesthetics and chassis department. “Never change the winning team” as people would like to say. Triumph Street Triple R receives a new logo found on the Daytona 675R model. Aluminum tapered handlebars are found on both Street Triple and Street Triple R models, so no difference there. Color options have been updated as well: Crystal White, Black Phantom and new Imperial Purple for Street, while Street R comes in Diablo Red, Chrystal White and Phantom Black.
The engine remains completely unchanged, well known three-cylinder, 12 valve, 675cc, 106HP at 11,700rpm per min and 68Nm of torque at 9,200rpm per min.The main difference between the standard and R model is limited to the suspension, which is coming directly from the Daytona and is fully adjustable on Street Triple R.…