Investor Ideas Potcasts #636, Cannabis News and Stocks on the Move: 2nd Interview with Pankaj Gogia, CEO of Psychedelic Water
Delta, Kelowna, BC - August 31, 2022 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today's podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
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Investor Ideas Potcasts #636, Cannabis News and Stocks on the Move: 2nd Interview with CEO of Psychedelic Water
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Today's podcast overview/transcript:
In today's podcast Investorideas interviews Pankaj Gogia, CEO of Psychedelic Water, where we discussed how the company has developed and grown since our last interview, what new products they have coming out as well as how he sees the future of psychedelics expanding and Psychedelic Waters place in that sector.
Since our last interview in December of 2021, the company has been keeping busy as Gogia discussed, saying "it's been an amazing six months. We've been focussing on growing the business. When we stated our focus was E-commerce and a direct to consumer model and now this year we have been focussing on our retail presence. I'm happy to announce we are in over 500 stores right now and have distribution in eight different states. We're seeing a lot of traction in our existing stores as well as demand from news stores so it's been an amazing and a pleasant journey from that perspective. We work with Urban Outfitters, who is not a typical food and beverage retailer, but I think they just saw a great alignment with what we have. We have been able to grow that from our original discussion with a trial online, then a few stores and then as of July 1st we are in all of their stores across the US."
When asked about how Psychedelic Water has faced some of the issues the entire CPG industry has faced over the past few years with regards to supply chain issues and distribution problems, Gogia commented, "Just like every CPG brand out there we do have supply chain challenges as well. We have had some issues with procuring certain items, ingredients or materials which has delayed certain things for us and caused us to have stock outs for sure. The demand is there and we are working through those challenges and we should expect most of our products to be back in stock in the next month. We believe that these challenges are a good thing at the end of the day because they force us to learn and adapt and find alternative suppliers."
Even amidst these global supply chain issue, Psychedelic Water continues to innovate and improve by adding new products to their line like "Microdose". Gogia explained, "we launched a new product called "Microdose" which is a shot size product. Unlike our cans these are things that can be taken on a daily basis which will provide more of a long term impact to you. This one the idea is, it's like a regular microdose, they're made with mushrooms like Lion's Mane, Chaga and Cordyceps as well as some nootropics as well and over the long term it's supposed to increase your focus, improve your creativity and help you relax."
So essentially this product is a healthier alternative to the classic 5-hour energy shots.
"A lot of the things with any energy drinks is they give you a short term boost but then a crash later, whereas with our product it's more about a more sustained level of energy as well as improved mental capacity. We launched in two flavours, one is Ume+Sakura which is whole plum and cherry blossom and then the second is Peach+Orange+Ginger, and the ginger adds a little bit of spice which helps wake you up," Gogia concluded.
Gogia went on to discuss how to discuss how the product has continued to grow as an online brand through social media outlets such as Tik Tok, how they have seen a shift in demographics as the brand gains more exposure online and in physical retail stores as well as how Psychedelic Water has helped shift people's opinion of psychedelics in general and how Psychedelic Water is preparing for further legal changes towards psychedelic ingredients.
Looking at how companies like Psychedelic Water could impact the future of the beverage industry and how psychedelics overall could impact the alcohol industry, in recent news a recent study published in JAMA Psychiatry has shown that psilocybin therapy, in addition to psychotherapy, reduced the number of heavy drinking days and average daily alcohol consumption in individuals with alcohol use disorder compared with an antihistamine placebo and psychotherapy.
This is the first randomised clinical trial (RCT) to show that psilocybin could help reduce excessive drinking in individuals with alcohol use disorder.
"Our findings strongly suggest that psilocybin therapy is a promising means of treating alcohol use disorder, a complex disease that has proven notoriously difficult to manage," said study author, Dr. Michael Bogenschutz, director of New York University's Langone Centre for Psychedelic Medicine, in a news release.
We have also recently seen a top Canadian health official who heads up the country's efforts to combat addiction visit Colorado, Oregon and Washington State last week to learn about their experiences implementing drug policy reform like broad decriminalisation and harm reduction-meeting with the governor of Oregon and psychedelics activists, among others, on a week-long tour.
Liberal MP Carolyn Bennett, who serves as Canada's minister of mental health and addictions, met with top state officials, activists, harm reduction professionals and law enforcement to discuss how jurisdictions on the other side of the border are addressing drug policy and working to mitigate the overdose crisis.
"We'll be sharing evidence, talking to people with lived and living experience, and discussing how our governments can learn from one another," the minister, who recently authorized a drug decriminalization pilot program in one of Canada's largest provinces, said ahead of the regional tour.
Gogia is confident these trends towards decriminalisation and adoption of psychedelics by the masses will continue to move forward and he is sure Psychedelic Water will be at the forefront of product development as these developments continue.
To find out more information about Psychedelic Water visit their website at www.psychedelicwater.com
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