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Cannabis Sales in Colorado Have Fallen for 11 Straight Months YoY, Should We Be Concerned, Yet?

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Are we seeing cannabis saturation between the legal and illegal market suppliers?

Cannabis Sales Falling in Colorado, should we be concerned?

There’s an alarming trend happening in Colorado and we should all be paying attention. For the most part, the cannabis industry has been the outlier in the global market place as it continued to grow in size and revenue during the pandemic. Is the cananbis market getting saturated, already?

Where other businesses were crushed under the global stagnation the cannabis industry kept on seeing more revenue come in, creating new markets, and seemingly being integrated on a global scale.

However, the world has been in a state of pseudo-lockdown for the past two and a half years and we’re now beginning to see the fruits of that action. Some might claim that these lock downs were necessary due to the Covid-19 Pandemic. Considering that almost 3-years in, there have been 6.3 million fatalities globally (as of writing this article) out of a global population of 7.9 billion people (and counting)

While the loss of life due to the virus has been significant when you look at it from the individual perspective. People lost family members and friends to the virus, and their loss should never be diminished. Yet simultaneously society needs to evaluate the macro effects of current social restrictions that the world is enduring.

Statistically speaking, the total deaths of Covid has claimed the lives of 0.0797% of the world’s population with the median age of death ranging from 73-years and older depending on the population data you’re looking at.

The reason why looking at the problem from this perspective is important is because as society remains in a state of uncertainty, where a lockdown or a mandate could impede free moving commerce – every institution and business is bleeding money.

Couple this with high inflation and a devaluation of the currency, you will begin to see the economic impacts take toll in all sectors of society.

Perhaps even cannabis is no longer inoculated against this type of economic turmoil as Colorado’s latest financial statements on the industry showed.

A Westword.com article reveals;

Colorado dispensaries broke marijuana sales records in 2021, bringing in over $2.2 billion. Sales volume and wholesale marijuana prices began falling last summer, however. April 2022 was the eleventh straight month of falling dispensary sales on a year-over-year basis, while the price of wholesale marijuana flower fell over 46 percent on average from January 2021 to April of this year, according to the state Marijuana Enforcement Division. – SOURCE

The article also outlined how dispensary owners saw up to 20% drop on their sales on 420, compared to their previous year earnings. But what could be the reason behind this? Is this a part of the pandemic’s relentless toil on consumers that now they have to choose between essentials like food over products such as cannabis, or could there be another reason?

Perhaps, regulations?

Farewell Buddy Boy…

“The bigger they are, the harder they fall,” says John Fritzel, owner of Buddy Boy, a chain of dispensaries in Denver Colorado. “When you’ve got that kind of overhead, you just can’t keep that going. We would love to, but there’s not enough capital in this market. If there was a ray of light and the numbers were improving, we would have tried.” – Source

In another Westword.com article, this time talking about the closure of a chain of dispensaries, the article points out that Fritzel believes that the decline came from a new law that went into effect on January 1st.

This law limited the purchasing amount daily allotted to consumers to only 8 grams. Previously medical marijuana patients could purchase up to 40 grams per day. In the case of Buddy Boy, this was 90% of his revenue stream.

During the first four months of 2022, the Colorado industry didn’t even break a $100 million in revenue, which was 43% worse than the year before. However, there was a general trend in reductions over all sectors of the cannabis industry, from wholesale prices and consumer demand.

“With the new regulations at the first year cutting daily allowable concentrate limits by 80 percent, as well as all of the inflationary conditions and overall market retraction, it was just too much,” Fritzel notes. – WestWord

From a consumer perspective, if the state limits the available amount of concentrate – you simply would turn to the streets. Cannabis isn’t like other products where the state has a monopoly on production. Rather, it’s a decentralized crop and anyone with a bucket, dirt and water can grow it.

Therefore, when the state creates restrictions in consumer options they force the consumer to the black market. However, Fritzel also believes said;

“There are going to be hundreds of [marijuana businesses] gone. They’re already closing. The industry as a whole, unless you’re in a limited license market, is really struggling,” he notes. “The novelty is wearing off.”

This is also an important detail to observe. Colorado has been actively selling cannabis recreationally for 10 years now. The novelty has worn off. Cannabis is simply “something you do”, which means that the consumer has caught up to the industry.

They now hold the purchasing power because the market has saturated to the point where there are “plenty of options”. This means that the businesses with the deepest pockets will be able to survive at the lowest price point.

Buddy Boy, unfortunately, didn’t have the deep pockets of Wall Street backed businesses. And as people invest into the market place, they provide a different level of service, usually at a competitive price point.

Unless you limit licensing or create mechanisms and tax deductions for local businesses – the money machine will gobble up the market as it does everywhere. Yet even Fritzel alludes to the introduction of this article…the global economy has gotten more expensive.

“The prices of everything we need to use as a business have gone up while the price of everything we sell as a business has gone down. We’re not seeing less foot traffic, but the average ticket price is dramatically down, and the prices are so low,” Fritzel adds.

When you take a reduction in wholesale prices, coupled with over saturation in a marketplace, then turn up the heat with hyperinflation due to global geopolitical policy – you’ve got the perfect recipe for mass foreclosure.

Thomas Mitchell, the author of the article in Westword concludes;

Dispensary takeovers have occurred at a high rate over the last two years, but permanent closures were rare in Denver until recently. Mile High Green Cross, a Capitol Hill dispensary under the Pure Greens ownership group, was closed in May to make room for another Pure Greens-owned store, La Conte’s, in the same neighborhood. A month before that, Colorado dispensary chain Bonfire Cannabis closed its medical marijuana dispensary in Denver after the company couldn’t secure a recreational sales license.

Which leaves us with a bitter taste in the mouth.

The calm after the storm…

When you’re going through intense moments in life, or in this case as a global society – much of what we know will go the way of the dodo. However, this is only because there is a major shift occurring within the whole fabric of society – from our spiritual affiliations to how we make our money. If you’re reading this article and think, “Man, we’re so screwed!” you’re right!

I personally believe that the world will probably get a little darker before the light comes. However, it’s in times like these where community is important. It is one of the greatest strengths of humanity. However, we are being forced to isolate and hide ourselves behind loose-fitting cloth masks pretending that it can protect us from an invisible threat.


While it’s noble to wish to accommodate the whole world to cater to the most vulnerable – at one point we’re going to have to weigh out the cost/risk benefit to society by attempting to protect the 1% at the expense of the 99%.

The cannabis industry readjustment in Colorado cannot be entirely blamed on the pandemic. However, the rising cost of living is forcing business owners to cut back, and that typically means letting go of hundreds or even thousands of employees.

Employees that would be relying on government money to get another job…in a market that is unloading employees. As the cycle continues and if we’re not very careful – could be a recipe for disaster.

Only by coming together can we weather the coming storm, and once we’re through it and the dust settles…we’ll be living a complete new dynamics. How good or how bad is entirely up to us.

Source: https://cannabis.net/blog/opinion/cannabis-sales-in-colorado-have-fallen-for-11-straight-months-yoy-should-we-be-concerned-yet

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Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light

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Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).

The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.

India’s Indigenous LEO Satellite Vision

Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.

The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.

According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.

The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.

Regulatory Process Moves Forward

Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.

The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.

Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.

Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.

Broadband, Mobile Connectivity, and Strategic Applications

Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.

The company also intends to establish 20 to 22 ground stations across India to support network operations.

Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.

Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.

Major Step for India’s Space and Telecom Sectors

Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.

The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.

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Alleged Crores Pharma Scam Mastermind Arrested from Surat

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After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.

Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.

Fake Business Deals and Dishonoured Cheques Used in Fraud

Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.

In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”

Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.

Multiple Identities and Repeated Fraud Pattern

Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.

Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.

Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.

Multi-State Surveillance Leads to Arrest in Surat

A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.

Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.

Growing Threat of Corporate Identity Fraud

The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.

Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.

Experts Urge Stronger Due Diligence in High-Value Transactions

Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.

Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.

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EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices

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A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.

Investigation Under Digital Markets Act Gains Momentum

The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.

Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.

Industry Groups Demand Swift Action

Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.

Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.

In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.

Google Denies Allegations

Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.

However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.

Potential Billion-Euro Penalties

If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.

Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.

Wider Implications for Big Tech

The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.

A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.

As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.

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