CV Sciences Reports First Quarter Earnings, Farmers Reflect on Lessons Learned in 2019: Week in Review

With fallout from COVID-19 among other challenges, CV Sciences has had to right-size its staff and cut back on salaries.

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May 16, 2020

This week, CV Sciences reported that its first quarter revenue for 2020 was down 45% from the same time last year, highlighting the ongoing hardships brought about by COVID-19. Meanwhile, farmers in Arkansas are trying to build on lessons learned from the 2019 growing season, which brought flooding and other challenges, to make 2020 a more successful year.  

Here are this week’s top headlines you might have missed.  

  • Arkansas: This upcoming growing season, Kindle Lancaster and Terry Roston, partners in Nebo Mountain Hemp Co., are hoping to build on lessons learned in 2019, when historic flooding and theft hampered their business. Read more 

  • California: At a city council meeting May 12, Arvin, Calif., officials voted 5-0 to pass a new hemp ordinance, which will allow the city to regulate odor, “public nuisance abatement requirements” and other aspects of hemp growth and processing. Read more
    Meanwhile, CV Sciences has released its first quarter earnings of 2020, illustrating COVID-19’s widespread consequences on even some of the largest companies in the hemp industry. Read more

  • Florida: Based at South Florida State College, two researchers are working to develop a method of hydroponically growing hemp that can not only provide a viable crop but also clean up the state’s algae-filled waterways. Read more

  • Kansas: The city commission in Pittsburg, Kan., may approve a grant for Sunflower Hemp Co., which is planning to build a 20,000-square-foot CBD extraction facility in the city to refine extracted CBD oil into consumer products. Read more

  • Texas: Collective Growth Corp., a special purpose acquisition company aiming to build out the entire hemp supply chain, has listed on the Nasdaq fully funded despite delays from the coronavirus. Read more