Pubdate: Wed, 22 Jul 2015
Source: Colorado Springs Independent (CO)
Column: CannaBiz
Copyright: 2015 Colorado Springs Independent
Contact:  http://www.csindy.com
Details: http://www.mapinc.org/media/1536
Author: Griffin Swartzell

SPRINGS DREAMS, SEEKING INVESTORS, PTSD, AND MORE

Smoking in the 'burbs

Holland Park is joining the cannabis club scene. Springs Dreams (4157 
Centennial Blvd., facebook.com/springsdreams) opened July 18 in what 
was for years a chiropractic office. Owner Eddie Martinez, 38, is a 
Springs native, and he's happy to bring a new business to the neighborhood.

"I think everybody should have a neighborhood cannabis club to go to, 
just like a neighborhood bar," Martinez says. "I always thought it 
would be nice for smokers to have a place to go and chill out."

And chill is the word; on opening day, the space was relaxing and 
welcoming with a warm paint job and an open bar area damping any 
residual doctor's office vibe.

"We did quite a bit of remodeling already," says Martinez. Future 
plans, he says, include adding a pool table and converting a storage 
room into a second private room. Martinez also wants as much live 
entertainment as he can book.

All flower, concentrates and edibles are grown and made in-house. 
Cover is $5 for men, but women pay a one-time $5 fee. Because club 
members reimburse Springs Dreams for growing their plants, you can 
take home what you don't smoke there.

The other green

Every cease and desist order in the industry is a learning 
opportunity for others. Take the recent case of Ryan M. Quinn of MMJ 
Mountain Resorts. He tried Craigslist to seek investors for two to 
three dispensaries in and around resort towns. But Quinn didn't 
follow due diligence with the Colorado Division of Securities).

"To sell securities in Colorado, you have to be licensed with the 
Division of Securities," says Jillian Sarmo of the DoS. "He was 
soliciting investors in direct violation of those statutes." She 
notes that all securities - stocks, bonds or options - must also be 
registered with the DoS.

As for how to do legitimate business, Sarmo says "[Marijuana 
companies] could certainly give the Division a call if they want to 
attempt to [seek investors]."

"The Colorado Crowdfunding Act could be an avenue for that when it 
comes into effect in August," notes Sarmo. HB 15-1246 allows online 
intermediaries - think Kickstarter and its kin - to "match a Colorado 
investor with a Colorado business that wishes to sell securities 
pursuant to a simplified regulatory regime." The bill imposes limits 
on how much money can be involved and requires issuers to keep 
investors informed about the increased risk.

Keef crumbs

Citing a lack of scientific evidence, the Colorado Board of Health 
voted 6-2 against allowing medical marijuana treatment for 
post-traumatic stress disorder on July 15. Electa Draper of the 
Denver Post reported the decision was met with boos and hisses. But, 
as we noted in last week's CannaBiz, Dr. Sue Sisley has received a 
grant from the Colorado Department of Public Health to do a proper 
clinical trial on the effects of cannabis on PTSD.
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MAP posted-by: Jay Bergstrom