Saturday, November 17, 2018
CBD FAQ with New Hemp Manufacturer Populum
What is Hemp Oil?
Hemp oil contains a significant amount cannabidiol, but also other things like essential vitamins, minerals, fatty acids, terpenes, flavonoids, and over 80 other non-pychoactive cannabinoids that interact with your endocannabinoid system to help with homeostasis (bodily balance).
How is it taken from the plant?
Hemp oil is extracted from the plant using a distillation process.
Are your farms ethical?
Our hemp is ethically grown and farmed in Colorado. We are proud to be grown & formulated domestically.
Where can we find your product?
You can shop our products at populum.com.
What is your connection to Omaha and Phoenix?
Gunhee, our founder, is originally from Omaha. He is an alumnus of Mount Michael Benedictine High School. The company was founded in Tempe, AZ and Gunhee is a graduate of Arizona State University.
Why are you based in Omaha and Phoenix?
Our headquarters and fulfillment center is located in Tempe, AZ. We started an office that focuses on operations and customer service in Omaha, NE in Q4 of 2017. Our goal is to continue to grow talent in both locations, while also employing team members across the country that are passionate in our cause.
How much revenue are you doing?
The company was founded in late 2016. In 2017, our first full year, we did $550K. In 2018, we are projected to do $1M in revenue.
How did you gain startup capital?
We are 100% bootstrapped and have grown the company through reinvesting our profits. In 2018, we are looking to do $1M in revenue.
Is it marijuana?
CBD is derived from industrial hemp, which is not marijuana. The classification of industrial hemp can be found in the 2014 Farm Bill, which is defined as the following:
Industrial hemp is the non-psychoactive, low-THC, genetically distinct varieties of the plant Cannabis sativa. Hemp has absolutely no use as a recreational drug. Section 7606 of the Farm Bill defines industrial hemp as “the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis.
How is it not marijuana?
Marijuana is grown with techniques that create a potency of THC in the final product. Hemp is not grown in this way, and is used for a variety of purposes outside of CBD oil, including textiles, food, and a variety of other materials. Every order from Populum comes with third-party lab results showing exactly what is in your CBD, and we always ensure that it is less than .3% THC.
Do you believe in marijuana legalization?
We would rather not get in the political debate for marijuana legalization. We are a strong advocate for separating hemp, as a crop, from marijuana and fully support all legislation that will help clarify the distinction.
Do you make efforts towards marijuana legalization?
How do you interact with/give back to the Phoenix/Omaha community?
We have an initiative in our company to donate part of our profits quarterly to different non-profit organizations. We believe that an important part of providing a wellness product is ensuring that we are fulfilling our passion for helping people, and that it is imperative to ensure every person has a chance at being in good health. Most recently, we donated to Empowerment Systems, an Arizona-based nonprofit that provides classes for living with chronic conditions, as well as wellness coaching.
How do you feel ASU helped prepare you to start this company?
W.P Carey offered lot of opportunities to take on leadership roles and to grow professionally. Being part of Barrett, the honors college, also helped to be constantly challenged and surrounded by open-minded and ambitious individuals.
How do we know it is safe?
Part of our process is to conduct a third-party lab test with every batch we formulate each month. A copy of this lab report is included in every order, showing exactly what is in your hemp oil.
Have you received any backlash?
What are your company’s core values?
Transparency. Quality. Superior customer experience.
How did you get started?
Our founder, Gunhee Park, first picked up a bottle of CBD oil in 2013. He was initially skeptical, but after using it over time, found it became a part of his daily supplement regimen. Soon after that, Gunhee’s mom called him to say she had to give up hiking, her favorite activity, because she was having pain in her knees. Gunhee wanted to help. After a couple of months of using both a CBD oil and topical, to their surprise, her inflammation subsided. Seeing his mom back on the hiking trail established Gunhee’s faith that hemp could be a lasting solution for everyone.