Provides Update on Marijuana Breathalyzer Development
Cannabix Marijuana Breathalyzer is being developed to give law enforcement and employers a tool to enforce public safety
A needed tool
In another part of my life I wrote a book called Start and Run a Marijuana Dispensary or Pot Shop. The book has done well because Canada and many states in the US wanted to legalize the sale of recreational marijuana. Whether or not this is a good idea does not seem to matter: the people want their pot and the politicians are making it available.
One huge problem with legally available marijuana is the possibility that people who are high will drive cars or operate heavy machinery. With alcohol there are fairly simple, on the spot tests, to determine inebriation. With marijuana, until now, it has not been obvious how you can test if a person is high. (Craving Doritos is not actually a legally enforceable test.)
While it is up to politicians to set limits on how much pot you can smoke if you are driving, without an actual testing device there is really no way to enforce those limits. Similarly, companies whose employees are working with machines or heavy equipment need a reliable way to ensure their workforce is not high on the job.
Enter Cannabix Technologies (OTCPK:BLOZF). Cannabix is a Vancouver based company which 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.
Today Cannabix announced it has filed several Patent Cooperation Treaty (“PCT”) applications related to product development innovations over the last several months. These application mainly deal with an Ignition Interlock Device which requires drivers to blow clean if they are going to operate a vehicle.
These devices are based on Cannibix's "field asymmetric waveform ion mobility spectrometry" technology which is very close to completion.
Cannibix shares enjoyed a healthy 41% bump on the news. However, the company is barely known in the marijuana law enforcement space. As its technology is completed and tested in real-world conditions there is every chance that it may become the de facto standard for law enforcement and employers having to deal with hazardous marijuana intoxication.
How big is that market? Difficult to say. But in 2016 1.5 million people were arrested and charged with DUI in the US. The vast majority of those arrests were the result of breathalyzer evidence. As marijuana intoxication standards are developed and enacted into law, the demand for breathalyzer technology with can detect illegal levels of marijuana use will skyrocket.
Even with today's bump, Cannibix shares should reflect the size of the market for its devices and the rapid pace of legalization of marijuana in Canada and the United States.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.