LEGAL

In 2014, a provision of the Farm Bill was passed that allowed Hemp to be separated from marijuana and declassified as a controlled substance. The Farm Bill of 2018 further extended that decision and has revitalized and revolutionized agriculture as we know it.  While Hemp is the same plant as marijuana, it must contain less than 0.3% THC in order to be classified as Hemp. While the 2014 Farm Bill only allowed for Hemp cultivation in highly specific pilot programs (of which Phytonyx is a licensed participant), the 2018 Farm Bill was significantly more expansive. It allows hemp cultivation broadly, not simply pilot programs for studying market interest in hemp-derived products.  It explicitly allows the transfer of hemp-derived products across state lines for commercial or other purposes.  It also puts no restrictions on the sale, transport, or possession of hemp-derived products, so long as those items are produced in a manner consistent with the law.