FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Cannabix Technologies Achieves THC Breath Capture Milestone, Comments on Patent Portfolio.”
Cannabix Technologies Inc. (CSE: BLO) (OTC: BLOZF) (the “Company or Cannabix”) developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace, is pleased to report that Company scientists have developed proprietary methods resulting in the achievement of the highest ?9-tetrahydrocannabinol (“THC”) detection levels collected from human breath to date.
Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples.
Cannabis legalization has spread around the world as, according to a study conducted by Columbia University’s Mailman School of Public Health, the number of users has exponentially risen between 2007 and 2014. 2014 was the year that Colorado and Washington made headlines after becoming the first two U.S. states to legalize recreational cannabis. Before the states’ decision that year, only medical use was sanctioned in the few regions where cannabis had a presence. However, by the time the study took place in 2017, there were already 29 states and the District of Columbia that legalized medical cannabis and 8 states that legalized recreational use. The study discovered that adults between the ages of 26 and 34 witnessed a 4.5% increase in cannabis consumption and that daily cannabis use was primarily higher among adults between the ages of 18 and 34. Pia M. Mauro, PhD, Assistant Professor of Epidemiology at the Mailman School of Public Health, noted that the increase in daily and nondaily usage among adults was predominantly due to legalization efforts, attitudes and risk perception. Currently, most people consuming cannabis use it for medicinal purposes. However, industry experts believe that as legalization continues to sweep throughout the U.S., the recreational market will eclipse its medical counterpart. Now, more and more people are willing to try cannabis if it becomes legalized. Moreover, as the cannabis industry continues to grow, retailers are working to introduce new and innovative products to their consumers. Now, producers have created cannabis-based products that appeal to both spectrums of users, whether they are frequent or infrequent users. Nonetheless, with the combination of the medical market and frequent recreational users, potent marijuana strains are expected to remain on top of the market demand. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2016. By 2025, the market is expected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025.
Even though cannabis was illegal until the 1990’s, states have since begun to rapidly change their stance on the legality of the plant. However, despite its widespread legalization, government regulators have voiced their concerns over the potential of cannabis abuse. Specifically, regulators focused on marijuana, which is in the cannabis family, and is known predominantly for its THC compound, which causes psychoactive effects on its consumers. Similar to abuse of alcohol, regulators were worried that consumers may commit some sort of act that could endanger themselves or others. And while there has never been a documented instance of a user dying from overdoses, it is proven that copious amounts of cannabis can have significant mind-altering effects which can impair the consumer and make driving, for instance, more dangerous. As a result, the marijuana breathalyzer was introduced. Government agents such as police officers can use the breathalyzer on someone who they may suspect is under the influence of marijuana. Specifically, the breathalyzer is used for consumers who are driving under the influence as a study published in the U.S. National Library of Medicine National Institutes of Health uncovered that driving while under the influence of cannabis is 1.65 times more likely to cause an accident. “We must thoroughly consider all aspects of a regulated marijuana program,” New YorkGovernor Andrew Cuomo said, “including its impact on public health, criminal justice and state revenue, and mitigate any potential risks associated with it.”
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