A COVID-19 induced cannabis infused products surge The decision to deem cannabis dispensaries a corona essential service has ignited a surge in cannabis infused products sales. Jamie Pearson, the CEO of the Bhang Corporation a publicly traded company OTC: BHNGF joins Dan Humiston to talk about managing the industries leading cannabis manufacture through the COVID-19 crisis. Produced by PodCONX
A COVID-19 induced cannabis infused products surge
The decision to deem cannabis dispensaries a corona essential service has ignited a surge in cannabis infused products sales. Jamie Pearson, the CEO of the Bhang Corporation a publicly traded company OTC: BHNGF joins Dan Humiston to talk about managing the industries leading cannabis manufacture through the COVID-19 crisis.
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Jamie Pearson: [00:01:07] We had record sales days where dispensaries were selling out. People were stocking up. We saw, you know, an uptick anywhere from 13 to sometimes up to 200 percent increase in edible purchases. You know, we saw a bigger increase in edibles, frankly, than in flower sales.
Jamie Pearson: [00:01:25] And, you know, a lot of people are just attributing that to not wanting to necessarily, you know, smoke or do something with your lungs.
Jamie Pearson: [00:01:32] In the current environment from MJBulls Media, it's the Raising Cannabis Capital show.
Dan Humiston: [00:01:44] I'm Dan Humiston. In today's show is a special optimistic Cannabis and Corona report about Cannabis opportunities during the Global Corbitt 19 crisis.
Dan Humiston: [00:02:02] Today in Cannabis and Corona, we're talking with about Cannabis Manufacturing with Jamie Pearson, the CEO of Bank Corporation. Jamie, welcome to the show. Thank you for having me. Well, I appreciate you being with us today because I suspect you're swamped. I also have to say that with all the craziness, it is comforting to know that bhang is still producing high quality infused products. So thank you.
Jamie Pearson: [00:02:25] Thank you very much. We are really happy to be in the Cannabis industry right now and so many other industries, you know, are shut down and we feel for those Americans that are out of work. We're happy that Cannabis has been deemed essential. Obviously, just from the standpoint of keeping all of our employees employed and working from home and, you know, doing what they need to do to feed their families, but also providing what we consider an essential product to America.
Dan Humiston: [00:02:53] You know, we feel fortunate to be in the industry right about now for our listeners that aren't familiar with bhang, even though it's many places a household name, it's a public company, and you're trading on the CSC under symbol B, H and G. And on the ROTC under symbol B, H and G F, you know, you've been around for over like 10 years. So it's one of the one of the I would refer to as the grandfather of the infuse Cannabis really seriously in 10 years time there's not that many of us.
Jamie Pearson: [00:03:25] Yeah. We call ourselves the 0G Cannabis brand because we were definitely there when all of this started putting quality safe, consistent ddosed edibles into the marketplace with nutritional fact panels and product liability insurance. One of the things we're known for is we've been testing our bars and to end before they ever hit the shelf. So we were doing lab testing before lab testing was required. And when you take a segment of bhang and you're looking for a certain number of milligrams, whether you get it from this side of the bar or that side of the bar, you you are 100 percent guaranteed that that dose is going to be consistent with the entire industry.
Dan Humiston: [00:04:01] Owes you a debt of gratitude just for the work that you've done to move this industry forward. You talked about Cannabis dispensaries being deemed essential, which is on so many levels just is epic. But how did that impact your business?
Jamie Pearson: [00:04:16] Well, you know, what an irony to go from really were still existing in prohibition. Cannabis is still federally illegal. So it's an irony that we've been deemed essential in every single state or Cannabis exists and yet are not essential enough apparently to tap into the dollars that will keep our businesses open. How that's impacted bhang specifically. We operate in seven U.S. states right now and we're also the number one and number two selling edible in Canada. You know, as far as North America is concerned, we're one of the most widely distributed brands. What we really are seeing is demand for our products. We had record sales days where dispensaries were selling out. People were stocking up. We saw an uptick anywhere from 13 to sometimes up to 200 percent increase in edible purchases. We saw a bigger increase in edibles, frankly, than in flower sales. And, you know, a lot of people are just attributing that to not wanting to necessarily, you know, smoke or do something with your lungs in the current environment.
Dan Humiston: [00:05:23] Take a short break to let you listen to a quick preview of our next episode and retail.
Michael Kiehn: [00:05:29] The first week as this was announced or as this was picking up, there was a whole lot of new customers that came into the retail stores worldwide. So they were talking to some of their customers. There's some people that have come from traditionally buying from the black market that are now wanting to go in stock up from the legal market. And it's because they're they're not trusting their original supply chain or their original supplier.
Dan Humiston: [00:05:56] Tune in on Sunday to hear Michael Kihn from 365 Cannabis. Now let's get back to today's show.
Dan Humiston: [00:06:04] The sales surge, I mean, that had to be, you know, a nice surprise considering most industries were experiencing just the opposite, except maybe if you're in the toilet paper industry. But unlike the toilet paper industry, even though you saw in a surge, I don't suspect you're going to see that dip. I mean, you use the same amount of toilet paper, whether I'm in a crisis or not, but I suspect that I'm staying home and probably going to be using more product, especially if I have it.
Jamie Pearson: [00:06:31] Well, we definitely hope so. Times of of stress like this. I can't think of something better than a product that's going to help people, you know, manage stress. Now, I'm not making a medical claim. I'm just telling you, this is what our consumers tell us. They use the products for. I think deeming it essential was really smart to keep relief off of our medical facilities because they are clearly being overtaxed as it is. Anyway, what we're doing on the banks side of things, to your point, is we are trying to make it really simple for the delivery services and the dispensaries to get access to product. And we're trying to gear some of our marketing efforts to making their lives easier. Everything up to this point have been geared toward that in-store patient appreciation day type experience. So those are more kind of face to face experiences. And now there's a lot of companies like ours that are putting some time and effort and money into developing online resources where consumers can go online and either purchase online and have the product delivered or get some dosing information. One of the things we're doing, for example, is D.J. Moggs, you know, the legendary deejay from Cypress Hill. He's been putting together Spotify playlists for the COVA experience. So if you're stuck at home and you want to have a very cool playlist to play while you're using bank chocolate, you can go on Spotify and look for the bang playlist by DG Hog's. It's so good. It's great.
Dan Humiston: [00:07:54] You guys are related, right? Yeah, he's my cousin. Well, that's awesome. That's really exciting to have. I mean, everybody kind of pitching in to help us remain calm and carry on. Use the bank's products. We've been speaking with Jamie Pearson from Bank Corporation. And we will have other information in the show notes and it MJBulls.com, including their stock ticker information and symbols. And by the way, if you want more information about their stock, there's an investment tab on their Web site. Jamie, thanks for being on the show. And also, thanks so much for being such a good example of a CEO leading a Cannabis company through a crisis. We need people like you to show us how it's done.
Jamie Pearson: [00:08:35] Thank you so much, Dan.. I think we realize that these times that are that are stressful for all of us are also opportunities. And, you know, we abang, we see this as an opportunity to show the world that there's a lot of good and a lot of positive in the midst of all of this. And I just appreciate the opportunity to talk about it.
Jamie Pearson: [00:08:52] Well, we'll have you back on again when when we see the other side of this.
Dan Humiston: [00:08:58] Today's show was made possible by the generous support of our sponsors, like all 36. The country's premiere blockchain payment processing platform that's providing dispensaries and its customers with a safe and secure payment option other than cash. To learn more. Go to all 236.com. Today's podcast was produced by MJ PBL's Media. The industry's premier Cannabis podcast network with original music produced in part by Jamie Humiston. I'm Dan Humiston and you've been listening to the Raising Cannabis Capital podcast.
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