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Michael Mayes Talks Market Price, Testing on WGN

cannabis dispensary software

Quantum 9 CEO Michael Mayes appeared on WGN as the state of Illinois opened its application window for patient licenses for those with last names beginning with A through L. Mayes was interviewed on pricing, testing and the future medical marijuana business market.

On pricing, Mayes noted that while the black market rates are based on need, Illinois medical marijuana rates will be based on supply, and higher supplies historically mean lower gram prices. As the state will not be regulating the price of medical marijuana, prices could potentially be as high as $400 an ounce, but many factors could affect the price.

Lower prices on the black market could tempt patients to acquire the medicine illegally, but as Mayes points out, they won’t know exactly what they are receiving the same way as if they purchased it from a dispensary.

“In Illinois, the dispensaries have to have a homogenized sample tested by a third party laboratory to tell you exactly what’s in the cannabis itself so they’re told exactly what the cannabinoid and terpenoid profiles are that the dispensary can then target the actual strain to a particular ailment,” said Mayes.

 

About Michael Mayes

As Chief Executive Officer for Quantum 9, Inc., Michael has assisted in funding some of the largest commercial cannabis projects in the world. Michael has been a cannabis investor since 2009 in Colorado’s first legal for-profit cannabis market. As the co-founder and CEO of Quantum 9, Inc., Michael has spent years designing technology and collaborating with countless consultants on the forefront of the cannabis industry. Collaborating with the brightest minds and contributing to world-class organizations has been an incredibly enlightening and rewarding experience for him. Also, he has amassed a comprehensive and award-winning team engaged globally for public policy best practices through the prioritization of environmental sustainability and patient care. Michael is a member of the International Cannabinoid Research Society (ICRS), contributor to Marijuana Business Daily, quoted in the Chicago Tribune, Tampa Tribune, Yahoo Finance, Tampa Tribune, Sativa Magazine, CBC and the Daily Herald. His media appearances include several CBS and WGN appearances and international presence on BNN Commodities in Canada. On the public policy front, Michael and his team were instrumental in their work of drafting the Kentucky Medical Marijuana Bill for Senator Perry Clark. Most recently, Michael taught a class for the International Pharmaceutical Academy in Toronto, Canada. He spoke on Cannabis Pharmacology, and the effects cannabis has on the endocannabinoid system.

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