Capitol Analysis Launches "Lab Transparency Project"
Project launched in response to new report from Straight Line Analytics suggesting industry foul play
Lacey, Washington - April 3, 2018 (Investorideas.com Newswire) Capitol Analysis, one of Washington State's premier cannabis testing labs, is launching a data-driven Lab Transparency Project, an effort to improve accuracy of cannabis testing results in the state through transparency and a new third-party auditing process.
The action comes in response to a new report issued by Straight Line Analytics, using data provided by the Washington State Liquor and Cannabis Board, which points to ongoing inconsistencies and possible foul play across labs testing cannabis in Washington State.
The report indicates that some producer/processors have participated in "lab-shopping" - a process in which companies send samples to several labs in search of the most favorable results, namely high potency and/or low quality assurance fail rates. The report shows that businesses that pay for the highest number of lab tests achieve, on average, reported potency levels 2.71% higher than do those that pay for the lowest number of lab tests. The new report shows that in return, labs that provide the highest total cannabinoid results to certain producer/processors tend to gain the most market share.
This practice undercuts the business of ethical I502 companies and ultimately compromises consumer safety. This is what spurred Capitol Analysis into action.
"Lab shopping shouldn't exist, because it is a symptom of lab variability," said Jeff Doughty, President of Capitol Analysis. "We already have standards that should prevent variations in lab results and proficiency testing that shows that the labs are capable of doing the testing. But problems arise when the auditors aren't looking. Therefore, we're creating the Lab Transparency Project to contribute to honesty and transparency in the testing industry."
Dr. MacRae said, "I applaud Capitol Analysis for committing to this effort. With the state's new traceability system up and running following a 4-month breakdown, the time for openness and transparency is now."
Dr. MacRae has been at the forefront of data analysis of Washington's legal cannabis industry. He will continue to contribute unbiased summaries of lab data and ongoing lab audits to the Lab Transparency Project that will help keep the industry in check.
Doughty intends to form a coalition of labs dedicated to openness, transparency and adherence to the highest lab standards and industry best practices to create a more accurate and fair testing environment in Washington state.
For more information visit this page on Capitol Analysis' website.
About Straight Line Analytics
Straight Line Analytics, based in Woodinville, Washington, leverages data and analytics to help businesses thrive in competitive markets and to help policymakers form better policy and rules. The company uses LCB-supplied data merged with its proprietary compilations of industry-related information to produce analytic summaries, innovative metrics and numerous insights for the Washington state legal cannabis industry and interested regulators, operators, investors, consumers, patients and observers. www.straightlineanalytics.biz
About Capitol Analysis
Capitol Analysis, based in Lacey, Washington, provides recreational cannabis testing, including I-502, potency, cannabinoids, microbial, foreign matter, moisture analysis, and more. Capitol Analysis' staff is comprised of physicists, chemists, microbiologists, and doctors. The company's goal is to provide accurate numbers to the cannabis industry through proper application of scientific rigor at an affordable price. www.capitolanalysis.com
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.