On August 1, 2018, MJ Munchies, Inc. received confirmation from the State of California that its registration of the Half-Baked trademark of marijuana edibles has been fully approved and granted
On August 28, 2018, confirmation was received that the United States Patent & Trademark Office officially published for opposition the Half-Baked trademark. This is typically the last step prior to a federal trademark being issued.
With California registration now complete, federal trademark protection getting closer, and a Half-Baked patent filing in the works, the company is working with its licensee in the State of California to identify next steps of the go-to-market plan.
Management has consultants vetting optimal partners to launch the Half-Baked line of CBD products and separately for the marijuana edibles space, where discussions are currently being held with additional potential licensees and celebrities to maximize the long-term value of the Half-Baked intellectual property, to the benefit of all shareholders.
Recent industry activity has seen Constellation Brands investing $4B in Canopy Growth Corporation and entities such as CannaRoyalty Corp. and Tidal Royalty Corp. investing heavily to develop future leading brands in the space.
When evaluating the size of the Half-Baked brand opportunity, management points to the disproportionate growth of edibles in the nine states that have legalized marijuana for recreational use. RBC Capital Markets, in a letter to clients on August 22, projected $47 Billion in annual sales. RBC analyst Nik Modi, when discussing existing category growth pointed out that, "Driving the growth is recreational use of the product, particularly concentrates and edibles.”