CND

MetaphoricalMouse

ooooo yeah you’re right. oddly i never had CND

SlayZomb1

That was Bullish not Circle. Circle was $CND.

dfwgolfer1

The SEC halted allowing crypto companies from going public via SPAC. The SEC has not stated this explicitly, but they delay feedback to proxy forms for crypto companies and do not approve listing. That’s why the rights are so cheap for BSGA. FPAC CND FTAC VCXB several others all had to terminate crypto mergers due to SEC inability to provide guidance. SEC stance can change but it’s a gigantic risk IMO.

iBuggedChewyTop

*cries in CND*

mazrim00

How long does it generally take for a SPAC to actually liquidate? Still waiting on my CND warrants to go to my yearly losses I can claim on taxes. Right now in limbo as Vanguard has them listed as OTC and unable to trade.

mazrim00

With CND not going through, I think that’s kind of the death knell for crypto related SPACS for a bit.

Savik519

CND warrants in the toilet after Circle backs out. Smart or dumb to buy CND/W at this point sub $.01?

mazrim00

So CND closing up shop as well. Probably doesn’t bode well for their other SPACs.

mazrim00

Would it be odd for CND itself to close up shop considering it has others open that came after? Seems like to keep a good face for those that invested in their SPAC they wouldn’t want to do that. They probably don’t care but…

kurzalevski

I would wish luck, but I want to be more realistic, look at what Mr. Klymochko tweeted: Julian Klymochko u/JulianKlymochko $CND / Circle deal terminated Looks like the SEC does not want any crypto company going public via SPAC

mazrim00

I think it was because both groups (CND and Circle) were definitely trying to get it done. Comes a point that you just have to stop if SEC is just going to continue to leave them in limbo.

mazrim00

Does CND need to vote for extension or can it be approved without?

banuntil

Bkkt depends on what Bitcoin does. I'm in for 10k shares at $3.40, thought I bought the bottom and didn't sell when went to $9. And for some reason I'm betting on another SPAC, CND, but it's not looking like it's going to happen.

mazrim00

Anyone receive proxy in regards to voting for CND extension?

pleasereadbelow

At least its only CND dollars🤔〽️

mazrim00

Me too. I’m underwater in warrants currently. It looks like CND is doing everything it can to get it to close. Issue is SEC it seems like. 50/50 imo.

mazrim00

Crazy volume on CND today (for CND).

mazrim00

They still have to set up the vote date for that. Filing was basically just saying that’s what we plan on doing. It could (to your second question). I’m actually not sure what NAV is on CND but I think it’s above and has been several times. I’d be surprised if there are a lot considering this was considered a good target (with valuation change that changed a bit, though).

mazrim00

Kind of good news. At least it shows they are trying to get it done. CND filing to vote on an extension thru January.

mazrim00

Big drop in CND warrants.

zygodactyly

Also the UN's determinations. Recall that UN members voted two years ago to pivot on cannabis after recommendations by the World Health Organization. >The 53 Member States of the CND, the UN’s central drug policy-making body, voted to remove cannabis from that Schedule – where it had been placed for 59 years –  and to which the strictest control measures apply, that generally discouraged its use for medical purposes.  https://news.un.org/en/story/2020/12/1079132 UN reclassification prompted the US to also review rescheduling in the US. Biden, I believe, wants cannabis products to be healthy and safe, that's his part of job. The health and safety, based on the latest science communicated to him through the federal agencies, is what he's thinking. Within the UN as of now: >...The United States [has] voted to remove cannabis from Schedule IV of the Single Convention while retaining them in Schedule I, saying it is “consistent with the science demonstrating that while a safe and effective cannabis-derived therapeutic has been developed, cannabis itself continues to pose significant risks to public health and should continue to be controlled under the international drug control conventions”. https://news.un.org/en/story/2020/12/1079132

mazrim00

I’m just stuck and nearly at zero on RCLFW anyways. Close to selling and taking what I can on my CND warrants, though.

mazrim00

Thanks for the end of day warrant dump CND. Just keep beating me up…

universal_language

Are there any news for CND? A lot of people speculated that merge won't happen, and it was way before IPOF/CRHC/DWAC news, so I assume now it's almost guaranteed not to happen, right?

mazrim00

I’m just down so far I don’t see the point in selling. Gotta hope CND pulls it out and RCLF finds something.

mazrim00

CND warrants definitely starting to go down to deal cancellation mode. Should be there in a few days at this rate.

mazrim00

Big warrant drop on CND WT.

mazrim00

CND continuing to file so that’s a good sign.

SPAC_Time

[Binance, Issuer of 3rd Biggest Stablecoin, to Stop Supporting Larger Rival USDC](https://www.coindesk.com/business/2022/09/05/binance-to-convert-users-usdc-usdp-tusd-into-its-own-stablecoin-busd/) \- CND CND.WS

darthmaclean

The fact they are doing a subscription to save money at BBBY. Thats whats interesting, and will scare people away. They are very expensive as it is...coming out with a $39CND/year to get free shipping 4x a year and to save 20% where taxes here are 13%. So really you save 7% off your total purchase.

mazrim00

What just happened to CND warrants? Market dump?

mazrim00

Warrants have done well with pretty good volume for CND. Indicates some confidence at least by i those investing.

fk4cyl

Anyone still following CND or FPAC? Went through the recent filings and saw Farley's CNBC interview a couple weeks ago. Wondering if it's finally time to dip back into warrants and maybe options for November, or are these going to go the way of etoro and burn me to a crisp again.

whatchuknowboutdat

Merging with (existing) CND and then becoming CRCL

mazrim00

CND warrants have had a nice little bounceback lately…too bad my average is like $1.75!

mazrim00

When the market rips and mine still go down (CND and VWE warrants). Ugh….

VisualMod

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mazrim00

CND hit $10. Hasn’t done that in a bit.

mazrim00

CND warrants dropping. Under $1 now.

No_FUD_only_Kindness

CND, CORZ, BSGA, ARIZS, SAI: hard times to go forward with a deal. Ones that already went through having a tough time. Poor Peter Thiel selling tranches of his coin at these levels to keep his stuff afloat, and even then I expect another 15-25 % dip off the 20k mark. Wisdom of the lockup on SAI and deal extension on the other miners is good. IPOs will be better received down the road, and meanwhile nobody has to sell or burn their coin reserves until they go public or unlock. European zone going crazy in regulation circles looking for a way to make a stable coin or a market multiplayer official exchange, like they don’t have enough problems right now. Looking good for a well planned strategy to have the extra six months or more to pull the SPAC cash grab raise at reasonable valuations and hold steady in the meantime. HIVE looking good after the split. So that’s always an option. I am not in it, but good luck CND folks, hopefully Circle can overcome the odds and the timing. Rooting for you guys.

randomredditor767

Closed my CND warrants short position. Merger looking more likely than not to happen so risk vs reward is not anymore in my favour. Will reshort it if warrants go above $2 as I now believe this company is trash and are losing money at a fast pace https://twitter.com/OddDiligence/status/1546611891836960768?t=uWNBqsfszC--9PJnn5EuSA&s=19

SPAC_Time

Circle filed [Amendment No. 4 to the Form S-4 registration statement](https://www.sec.gov/Archives/edgar/data/0001876042/000110465922078873/tm2124445-12_s4a.htm) today after market close for the business combination with Concord Acquisition Corp. CND CND.WS

tehmadhatteh

GGPI, COIN, UTAA, CND [are trending SPAC tickers](https://swaggystocks.com/dashboard/stocks/top-spacs-list). is this good or bad?

FRICK_CCIV

My broker doesn't allow it but I think shorting the warrants is the play for many of these SPACs w/ DAs, i.e. CND and BRPM. Look at [HUGS.WS](https://HUGS.WS) down 60% today.

mazrim00

Stop speaking CND/Circle into existence! Go wash your mouth out with soap!

randomredditor767

Oh definitely. They just extended the outside date for merger but the $300m PIPE has been terminated so it may happen but without the PIPE. Either way, with warrants at $0.28, the risk vs reward is not really there as opposed to shorting HUGS at $1 or CND currently at $1

randomredditor767

Oh definitely. They just extended the outside date for merger but the $300m PIPE has been terminated so it may happen but without the PIPE. Either way, with warrants at $0.28, the risk vs reward is not really there as opposed to shorting HUGS at $1 or CND currently at $1

randomredditor767

Wow! That's 4 terminations the past day. Can't say I'm surprised about this one and I was shorting these warrants from $1 and will cover them today. Got the idea in March when pennycheck on twitter mentioned it. Now waiting on CND/circle to terminate https://twitter.com/pennycheck/status/1500847074329468930?t=HHG0rcPRfSri3cmnFtcE-w&s=19

randomredditor767

After the termination of FTCV/Etoro deal today, I am even more confident of my short position in CND/Circle warrants given the high likelihood of termination by December. Crazy that warrants are still trading above $1 while FPAC/Bullish is at $0.28!

mazrim00

Don’t scare me. Circle will be out a good chunk of money if they terminate but still scaring me. Guessing that’s why. CND and Circle both appear to be doing what they can to make it happen. USDC has not suffered a downturn like the others as well.

randomredditor767

I'm short $CND warrants based on the high likelihood of the merger agreement being terminated. It's a high risk play, therfore it's not a massive short position of mine, but the reward is that if termination occurs, it will drop probably around 90% (see RBAC warrants when deal got terminated). I put the likelihood of termination at 80% (expected by December) and for some reason, termination likelihood is not being priced in to the warrants. See this thread> https://twitter.com/OddDiligence/status/1537437906561667073?t=ltc67kkw88iQ0J8bi79thA&s=19

Tough_Flatworm_1338

Do you believe CND will have a successful merger regarding the crypto market being in a volatile state? USDC coin is a non algorithmic stablecoin backed by USD and treasury bond. I'm not particularly interested in SPACs but I have an offer to work for the company and crypto sounds exciting. I also have an offer from Amazon which feels like the "right move" given marker sentiments. Amazon also pays more. Blockchain technology is a passion of mine so I don't mind the payout, but I also don't want to be out of a job. Coinbase already did a rugpull on me.

Alert-Athlete

This right here. I’m going to put $35,000 on Tilray around $3.00 a share CND. Give it a few years and I’ll have my house paid for. People against buying at $3.00 shouldn’t have bought at $20 a share, lol!!!

Jetnoise_77

Now that crypto has tanked, when will circle/CND cut their valuation?

HotHands28

**REV** short% 37.57, 2.91M short interest. Buying myself some "Cherries in the Snow" and 50s nostalgia. Company has a big product portfolio and some of the cheapest quality CC (consumers may start opting for cheaper options). Massive mfg operations and tech in NC plant. Decades of poor leadership and Covid have led the stock to its current state. I anticipate either a short squeeze, or an acquisition. Company has top brands: Revlon CC, Elizabeth Arden, Almay, CND; and top mfg tech (a bargain buy for the L'Oreals of the world). Interested to see it all unfold this year.

1UpUrBum

The long term avg exchange rate is around 1.2, USD/CDN . When it gets closer to it's extremes 1.4-1.5 or the low end 1.0-.9 then you should be aware of that and adjust the hedge accordingly. Right now it's 1.26 about the middle of it's range that would mean indifferent to hedging. But it's going up so that is something to consider. I do some currency trading so I am always long or short. Long US$ short CND$ now which is the same as the non hedged ETFs. Somebody buying ETFs wouldn't be as strict about that but should still consider it when it's at it's extremes.

SPAC_Time

[Concord Acquisition Corp Announces Intention to Extend Period to Consummate Initial Business Combination](https://www.prnewswire.com/news-releases/concord-acquisition-corp-announces-intention-to-extend-period-to-consummate-initial-business-combination-301561250.html) \- CND CND.WS "In connection therewith, pursuant to the transaction agreement, dated February 16, 2022, among Circle Internet Financial Limited, a private company limited by shares incorporated in Ireland ("Circle"), the Company and others, **Circle is expected to deposit $2,760,000 (the "Extension Payment") into the trust account of the Company for its public stockholders by June 8, 2022**, representing $0.10 per public unit sold in the Company's initial public offering, which will enable the Company to effectuate the Extension."

mazrim00

I just have one sizeable pre merge warrant position left (CND). Hopefully I don't get burned.

perky_python

People are certainly bailing on USDT (and obviously UST). I haven’t seen data on USDC, but I’d be surprised if there aren’t big outflows there as well. More risk now of a Tether bomb than there has been in a long time, which would be bad for all crypto in the short term. USDC will continue to gain market share of stable coins, but is that market going to shrink? I’m not feeling great about the reward/risk in CND right at the moment.

universal_language

Is anyone considering CND again? With LUNA/UST crash and with short depegging of USDT, USDC becomes the best widely acceptable stablecoin

NoeticOptions

CND - Circle inc. they currently own USDC, the 4th largest crypto currency. A stable coin just below up, regulation is going to come. USDC is backed 1:1 with US dollars and they are applying for a bank charter which will likely be readily pushed through once the executive order gets passed down. Best part is CND is trading below nav. So either I’m wrong and you redeem and make a lot of money, or I’m right and you make a lot of money.

VisualMod

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mazrim00

I like CND but it seems like many do associate it with crypto. I’m heavy in warrants but that worries me for at least a short term downtrend if crypto continues to plummet.

PaperMaker999

Been saying for a while, check post history. CND merging with Circle will become de-facto stablecoin for the dollar. Opportunity of TAM is $160 trillion, made up of payments, treasury, and financing. The competition. UST, a decentralised dollar stablecoin has lost peg to a dollar. Will not meet any coming regulations. The devs were actively mouthing at the Fed saying they’re untouchable by the US lawmakers etc. Product not robust to risk, now proven. USDT, as of this morning has started to lose its peg to the dollar. Data suggests there’s a move happening of those holding this supposed fully reserved stablecoin moving over to USDC which is issued by Circle. If it continues to slide, will their reserves withstand the run? Last known to hold approx 5% cash, rest in mix of commercial paper and bonds etc. USDC, issued by Circle and fully backed with dollars in FDIC banks has remained stable throughout. See S-4 filed last week to prove this. Now, if the others continue to implode/slide, this will rise as the most stable and secure, with the fully reserved model of issuance and not prone to a run risk. Moving on. Is there credibility in that BlackRock having recently invested in Circle after the reSPAC at a $7.65 billion valuation is trying to remove the competition? Unlikely. There’s currently no on chain data which is open for all to see to suggest this. This is what blockchain is all about, transparency. It may just simply be they (as well as Fidelity, Goldmans, Citi) recognised Circle and USDC has the most sound product of a dollar stablecoin and wanted in. All eyes are now on two things. Firstly Tether. Should the peg continue to drop and they are unable to meet the redemptions due to insufficient reserves, whilst at the same time USDC minting starts to rise, could show the crypto market is finally moving to a more sound dollar stablecoin. Second. How does the government respond to this, and how quickly. Yes this isn’t a money fund that’s gone bust, still though Yellen earlier this week made note of the UST decline at a hearing, stressing the urgency of stablecoin regulation and framework from the Senate. Gonna get interesting.

fastlapp

All the SPACs with a target, with exception of Trump SPACs and low floats, trade 0.00x0.05. CRHC, IMPX, HUGS, FPAC, XPOA, BLTS, CND, etc. it's a lottery ticket for sure, probably 100% loss unless they DA with OnlyFans, which I'm not sure why anyone would think that. I think you are better off just buying commons or ITM calls if you can get a fill close to intrinsic value. Good luck.

mazrim00

Does anyone remember how much Circle would owe to CND if they back out? Hopefully they just chill but getting concerned/fearful about market conditions affecting it. Would hate to have another warrant position drop 75% or so. Rates should help them but nothing trades based on the company right now.

PaperMaker999

J Pow be making CND aka Circle a lot of money. Every 50bp hike is like $500 million revenue for simply holding dollars. Who cares about a re valuation, at this rate they’ll be making $2-3 billion in simply treasury revenue based off the hikes alone. On top of that there’s the revenue from their other services. I’ll keep building my position.

fumblingwisdom

Anyone holding NAv spac's? I still have CND and GGPI and had hoped for a pre merger pump but am tempted to sell now

Responsible_Hotel_65

$ASTS - SpaceMobile which will allow any phone to be connected anywhere in the world via satellite, $DNA - Claim to be able to turn water into Wine , $CND - Circle crypto stable coin , $NVDA - A massive moat and they are not slowing down, $CCO - One of the largest Uranium miners and the need for clean energy is only going to grow.

SPACmanity

See page 6/7 of the [Form 425](https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=116470924&type=HTML&symbol=CND&companyName=Concord+Acquisition+Corp.+Class+A&formType=425&formDescription=Prospectuses+and+communications%2C+business+combinations&dateFiled=2022-02-17&CK=1876042#ea155842ex2-1_concord.htm): if Circle actively blocks the deal, it'll have to pay $112.5M, and if it's terminated by mutual consent then Circle will have to pay $20M (in shares in Circle, which is kind of confusing).

I_Got_High

wow I just add my position in Verano at 10.00$ CND. Now waiting to loose more.

PaperMaker999

Gone from swinging SPACs on DA pops to high CTB short squeezes and back to SPACs again. CND & IPOF, let’s get it.

PaperMaker999

Because Gensler, he needs hugs. Executive Order from Biden recently however could have other bodies assume crypto legislation and oversight so his time in the power seat could be up. Although recently the SEC has come up with a new term for anyone allowed to dabble in crypto, “accredited investors” only. That isn’t retail, nah. Looks like the SEC will allow big players have all the exposure, that’s a different tune to what they were saying few months ago. Anyway I’m still bull on CND. Revaluation doesn’t bother me. They’re only scratching the surface of what’s possible in terms of revenue. I mean look at updated forecasts for revenue, just on the USDC reserves alone they expect $2.3bn, and that excludes any revenue from payments, capital markets, and other key areas of the business. This figure was also based on potential Fed rate hikes, if you look at what the Fed actually did, and plans to, they’re looking at $3-4bn! Why I’m still holding, well if policymakers hit a home run for stablecoins given BlackRock and the lot are coming on board, this’ll move higher before merger completes, irrespective of the new valuation. The entire crypto, more so Web3 sector is hot right now. On the downside, it’ll tank post merger. But, redemptions will be higher than 95% mostly due to bitter sentiment for the 100% valuation increase to original deal. And, or if, policymakers aren’t as forward thinking and stablecoins aren’t given clarity for regulation purposes, it’ll fall through. I suppose with that you’ll get lots of shorts as well for bitter valuation resentment, and/or against the crypto sector as whole, couple that with options, and a potential low float with 95% redemption figure, it’ll be a nice squeeze play. In the meantime, sit at NAV with parked cash and rolling profits in etc, given current market turbulence, makes a good hold.

Jerome_BRRR_Powell

agreed I would much rather buy Robinhood then Etoro at the proposed valuations FPAC could moon depending on how FTX's private rounds go CND, no meat on the bone. Its no surprise all three have stalled due to Crypto Affiliations. They wont move forward until the SEC makes a decision on Crypto

upbeat_controller

FPAC is trash (DWAC-style “let’s wait to actually make a company with a product until *after* the SPAC deal 🤡), CND fucked over the SPAC, FTCV is dead after HOOD’s post-IPO performance.

eireks

CND had the slight hiccup of renegotiating their valuation nine months after DA

Hardcoreposer7

Any thoughts on when the mergers of FPAC, CND, FTCV will happen or what's delaying them? Not sure why these crypto/trading related companies haven't been able to announce a merger yet

BizPundit

I wonder how much more money Circle actually ends up raising by negotiating for double the valuation and eliminating the PIPE. CND was starting to move above $10 before the repricing was announced, now redemptions are likely to be >75%

perky_python

F circle. And F CND. Yes, I’m still bitter about the re-valuation.

PaperMaker999

CND waking up now after yesterday’s announcement. BlackRock and Fidelity pumping cash into Circle is bullish. Ex Barclays led sponsor willing to continue in the deal even at double the original valuation. Goldmans already on board. As per reSPAC, Circle was allowed to raise outside funds up to $700m to a maximum discount of 15%, so the lowest possible valuation on the $400m raise announced yesterday would be $7.6bn. Not bad. Wonder if they’ll raise an additional $300m just because they can and the big boys want in.

Sir-Master-Chief

I’ve become partly bull on CND but the 9 billion evaluation in the market is absurd. I will most likely wait until most pre merger

PaperMaker999

CND announcement of $400m funding from Fidelity and BlackRock amongst others. Looks like it’s awakening. BlackRock apparently looking for USDC institutional adoption.

eireks

I like Circle, but I'm not going back into CND.

mazrim00

CND warrants up today oddly.

InternationalElk6617

CND does not deserve to be up a percent

Tfarecnim

Which is odd, because normally great deals can break NAV easily premerger, ex GGPI, CFVI, CND before it decided to double valuation. High redemptions only hurt them medium to long term because they don't get most of the cash that was in the trust.

SirEbrally

Last Friday there was also a r/weedstocks post, [Bipartisan Congressional Lawmakers Want Biden To Push UN To End International Marijuana Ban](https://www.reddit.com/r/weedstocks/comments/thekb6/bipartisan_congressional_lawmakers_want_biden_to/). I'm reposting the info I dropped in that thread so that more people will have better insight as to where the issue currently stands on the international treaty front. ________________________________ Love the idea and wish it would become reality, but sadly the odds at this time make it quite the uphill challenge. In early 2019 the WHO presented a half-dozen cannabis related proposals to be decided on by the Commission on Narcotic Drugs (CND). Numerous countries requested more time to consider the proposals and give feedback. The vote ended up getting postponed twice before finally taking place in December 2020. Upon voting the **only thing** that passed was medicinal and therapeutic potential of cannabis, which opened the door for medicinal (not recreational). It was a tight vote, too: 27 for / 25 against. The U.S. under Trump's presidency wasn't very gung-ho. >Meanwhile, the United States voted to remove cannabis from Schedule IV of the Single Convention while retaining them in Schedule I, saying it is “consistent with the science demonstrating that while a safe and effective cannabis-derived therapeutic has been developed, **cannabis itself continues to pose significant risks to public health and should continue to be controlled under the international drug control conventions**”. [UN commission reclassifies cannabis, yet still considered harmful](https://news.un.org/en/story/2020/12/1079132) You can read more about how the international members of the treaties feel about it here. Hint: it's not as encouraging as you'd like it to be. So even if the U.S. has a change of heart, there's still quite a challenge ahead. [WHO scheduling recommendations on cannabis and cannabis-related substances](https://www.unodc.org/unodc/en/commissions/CND/Mandate_Functions/current-scheduling-recommendations.html) That said, SRA boldly contains the following: >**[From H. R. 5977 \(States Reform Act\)](https://www.congress.gov/bill/117th-congress/house-bill/5977/text)** >SEC. 701. UNITED STATES INTERNATIONAL CANNABIS COMMERCE POLICY. (a) United States Foreign Policy Objectives With Respect To Cannabis. >(1) The President of the United States and the United States Trade Representative shall send trade missions and engage in treaty-making with foreign jurisdictions that have legalized the import and export of cannabis to provide for the legal trade between the United States and foreign jurisdictions. >(2) The principal negotiating objectives of the United States with respect to trade shall include the removal of unjustified foreign barriers to trade in cannabis, cannabis derivatives, and cannabis products. >(3) The United Nations Ambassador is tasked with similarly ensuring updates to international accords to reflect current practices. >(b) Rule Of Construction For International Treaties Respecting Drug Policy; Federal Primacy On Scheduling Decisions.— >(1) It is the policy of the United States that the power of the Federal Government to control, alter, heighten, lower, abolish, decontrol, or likewise modify drug control scheduling for any particular substance, including cannabis, is a vested power of the article I constitutional lawmaking power that no treaty, including the 1961 Single Convention on Narcotic Drugs, the 1971 Convention on Psychotropic Substances, 1972 Protocol Amending the Single Convention on Narcotic Drugs, and the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, may infringe upon, oblige or impose a duty on the United States not to undertake at its pleasure, or otherwise modify. This provision shall constitute a rule of construction for all Federal courts to apply in all cases. Lastly, what would it take to deal with the international treaties? Here's a really great paper by the International Centre for Science in Drug Policy, Munk School of Global Affairs, University of Toronto. It was released in May 2017 when Canada was in the process of legalizing recreational cannabis. [Recreational Cannabis Regulation & International Law: Scenarios for States Parties to the UN Drug Conventions](https://cdpe.org/wp-content/uploads/2018/04/ICSDP_Recreational_Cannabis_ENG_June_14.pdf) >With Canada’s experience as a guide, this process ultimately yielded four potential scenarios available to States Parties to the UN drug conventions to align their international legal obligations with the regulation of domestic recreational cannabis markets: - Scenario 1: Request an amendment - Scenario 2: Withdraw from the 1961 Single Convention and re-accede with reservations - Scenario 3: Articulate a legal argument on the compatibility of recreational cannabis regulation within the UN drug conventions - Scenario 4: Enact a stance of principled non-compliance

SirEbrally

Love the idea and wish it would become reality, but sadly the odds at this time make it quite the uphill challenge. In early 2019 the WHO presented a half-dozen cannabis related proposals to be decided on by the Commission on Narcotic Drugs (CND). Numerous countries requested more time to consider the proposals and give feedback. The vote ended up getting postponed twice before finally taking place in December 2020. Upon voting the **only thing** that passed was medicinal and therapeutic potential of cannabis, which opened the door for medicinal (not recreational). It was a tight vote, too: 27 for / 25 against. The U.S. under Trump's presidency wasn't very gung-ho. >Meanwhile, the United States voted to remove cannabis from Schedule IV of the Single Convention while retaining them in Schedule I, saying it is “consistent with the science demonstrating that while a safe and effective cannabis-derived therapeutic has been developed, **cannabis itself continues to pose significant risks to public health and should continue to be controlled under the international drug control conventions**”. [UN commission reclassifies cannabis, yet still considered harmful](https://news.un.org/en/story/2020/12/1079132) You can read more about how the international members of the treaties feel about it here. Hint: it's not as encouraging as you'd like it to be. So even if the U.S. has a change of heart, there's still quite a challenge ahead. [WHO scheduling recommendations on cannabis and cannabis-related substances](https://www.unodc.org/unodc/en/commissions/CND/Mandate_Functions/current-scheduling-recommendations.html) That said, SRA boldly contains the following: >**[From H. R. 5977 \(States Reform Act\)](https://www.congress.gov/bill/117th-congress/house-bill/5977/text)** >SEC. 701. UNITED STATES INTERNATIONAL CANNABIS COMMERCE POLICY. (a) United States Foreign Policy Objectives With Respect To Cannabis. >(1) The President of the United States and the United States Trade Representative shall send trade missions and engage in treaty-making with foreign jurisdictions that have legalized the import and export of cannabis to provide for the legal trade between the United States and foreign jurisdictions. >(2) The principal negotiating objectives of the United States with respect to trade shall include the removal of unjustified foreign barriers to trade in cannabis, cannabis derivatives, and cannabis products. >(3) The United Nations Ambassador is tasked with similarly ensuring updates to international accords to reflect current practices. >(b) Rule Of Construction For International Treaties Respecting Drug Policy; Federal Primacy On Scheduling Decisions.— >(1) It is the policy of the United States that the power of the Federal Government to control, alter, heighten, lower, abolish, decontrol, or likewise modify drug control scheduling for any particular substance, including cannabis, is a vested power of the article I constitutional lawmaking power that no treaty, including the 1961 Single Convention on Narcotic Drugs, the 1971 Convention on Psychotropic Substances, 1972 Protocol Amending the Single Convention on Narcotic Drugs, and the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, may infringe upon, oblige or impose a duty on the United States not to undertake at its pleasure, or otherwise modify. This provision shall constitute a rule of construction for all Federal courts to apply in all cases. Lastly, what would it take to deal with the international treaties? Here's a really great paper by the International Centre for Science in Drug Policy, Munk School of Global Affairs, University of Toronto. It was released in May 2017 when Canada was in the process of legalizing recreational cannabis. [Recreational Cannabis Regulation & International Law: Scenarios for States Parties to the UN Drug Conventions](https://cdpe.org/wp-content/uploads/2018/04/ICSDP_Recreational_Cannabis_ENG_June_14.pdf) >With Canada’s experience as a guide, this process ultimately yielded four potential scenarios available to States Parties to the UN drug conventions to align their international legal obligations with the regulation of domestic recreational cannabis markets: - Scenario 1: Request an amendment - Scenario 2: Withdraw from the 1961 Single Convention and re-accede with reservations - Scenario 3: Articulate a legal argument on the compatibility of recreational cannabis regulation within the UN drug conventions - Scenario 4: Enact a stance of principled non-compliance

Jerome_BRRR_Powell

CND raised because they ran out of time CND and all crypto SPAC's will keep extending as the SEC is kicking the can down the road. Same reason ETORO is still running around in circles.

epyonxero

If its really that great a deal Im sure theyll pull a CND and raise the valuation.

LexusLand

That’s about how much I have left from 32k CND

68_Bullitt

Any value in $CND warrants around $1.20? I haven't been keeping up on recent updates.

Jerome_BRRR_Powell

The updated valuation is disappointing, because allot of the meat was taken from the bone. As long as you can afford the premium's, you might be better off shorting tether and going long CND. You short Tether at $1 with the hopes it goes down due to exposure to China, as its a stable coin there isnt any chance of short squeezes etc.

kurzalevski

Ok just bought CND there is an offer 2 cents below close price.

TKO1515

CND has a pretty massive breakup fee now. So unlikely that happens

epyonxero

Not sure why anyone who isnt arbing would still hold shares in CND.

PaperMaker999

Cathie’s out of CND, sold all shares and no PIPE required after reSPAC either it looks like. Those who are still in, or not, a moment to rejoice?

fastlapp

No, not exactly. I can respond in more detail tomorrow (on phone, away from desk), but here’s basic example. Say you are founder and sole shareholder of a company and decide to merge with $200M SPAC at a $500M valuation in an all-stock transaction. $500M valuation at $10 = 50M shares at merger consisting of 20M SPAC public shares, 5M SPAC founder shares, and 25M shares for you the existing shareholder. Now all SPAC shares are redeemed so you are left with 5M founder shares and 25M of your shares. So you own 25/30 = 83% of the company. Now say your company gets an endorsement from a certain former President and you pull a CND and double your valuation to $1B. $1B valuation = 100M shares at merging consisting of 20M SPAC public shares, 5M SPAC founder shares, and 75M shares for you personally. Despite your endorsement, all SPAC shares are deemed. You now have 80M shares left, and you own 75/80 = 94% of the company. Now later when your crappy company is struggling and needs to raise $50M in cash via a secondary offering at $5/share (you are selling 10M shares). So, at the $500M initial valuation valuation, your stake is diluted from 83% to 62.5%. \[25/(30+10)\]. But at the $1B SPAC valuation your stake is diluted from 94% to 83% \[75/(80+10)\]. Remember, most spac transactions no one is cashing out with proceeds from the transaction.

No_FUD_only_Kindness

Well half joking half serious I was thinking about my Kazakh bitcoin miners who are merging with the tech to recycle the miner generated heat for cold climate geographic locations. Suddenly seems like a good way to circumvent the supply of fuel coming from Russia. Also the CND clearing house is a way to track transactions on a certain level. But I think overall hard consumption commodity market is a better bet for the time being. Was curious why we haven’t seen more of our satellite SPACS get a shoutout for imagery or why PIPP the NAT SEC SPAC didn’t get more love today. I think you had a good question. I am curious too.