Volume 05 · Brand Spotlight · August 2026
The FK+ Reintroduction.
Flow Kana raised $175 million to industrialize sun-grown cannabis, built a
campus in an old Mendocino winery, and unwound over four years. FK+ is what
its founders built next. The cannabinoid engineering is the best-designed
dose ladder we have plotted from any brand. The botanical half of the
promise has no published number attached to it anywhere.
By DankeSuper editorial
16 min read
Chemistry from FK+ COAs (Excelbis Labs) + label panels
There is a specific kind of cannabis company story that the industry does not
tell well, because telling it well requires saying that somebody smart lost a
great deal of other people's money. Flow Kana is that story. Between 2015 and
2022 it raised roughly $175 million, bought the former Fetzer winery in
Redwood Valley and rechristened it the Flow Cannabis Institute, became the
second-largest employer in Mendocino County after the hospital system, and
made "sun-grown" a marketing category the whole California industry had to
respond to. By January 2023 the operation was mothballed, the licences had
lapsed, and the buildings were being leased out to other tenants.
FK+ is what the founders built next. Launched in May 2025 out of a Miami
address, it is a national direct-to-consumer hemp brand selling gummies and
pre-rolls in four effect lanes: SLEEP, RELAX, ENERGY, FOCUS. Michael
Steinmetz and Flavia Cassani, who co-founded Flow Kana, are named as
co-founders alongside Kevin Haslebacher. The site's Facebook link still points
at facebook.com/flowkana. The Shopify store still lists "Flow Kana" as
the product vendor. flowkana.com now redirects here.
We came to FK+ the way we came to BRĒZ in Volume 04 — looking for a brand
that layers functional botanicals onto a precise cannabinoid base, the thing
our two-module framework was written to evaluate. FK+ makes that claim more
loudly and more specifically than any brand we have covered. It says its
ingredients are present at "supplement grade dosing," at "therapeutic doses,"
at "clinically relevant levels." It says, in a graphic on its own science page,
"No fairy dusting ever."
That is a testable claim. It is the exact claim the Botanical Module exists to
test. So we tested it, and the answer splits cleanly in two: the cannabinoid
formulation is genuinely, unusually good — better-engineered than
anything else we have plotted — and the botanical claim cannot be
checked at all, because FK+ publishes no dose for any botanical in any product,
anywhere.
How to read this piece
This is a two-verdict review. Part one is about cannabinoids, where FK+ earns
real credit and the numbers hold up against third-party lab results. Part two
is about botanicals, where a specific and emphatic marketing claim is
unaccompanied by any published figure. Both halves are the same product. A
brand can be rigorous in one register and promotional in another, and the
useful thing a standard can do is say which is which.
What happened to Flow Kana.
The background matters here, because FK+ is being introduced to an audience
that mostly does not know it, and because the founders' previous company is a
genuine landmark in the modern cannabis industry — both for its ambition
and for how it ended.
2015
Michael Steinmetz and Flavia Cassani launch Flow Kana in California. The
model is aggregation, not cultivation — buy sun-grown
flower from small Emerald Triangle farms, process, brand, and distribute
it. A third co-founder, Nicholas Smilgys, exits in 2016.
2017
Flow Kana buys the former Fetzer winery at Redwood Valley, Mendocino County
— an ~80,000 sq ft building on roughly 80 acres, for a reported
$3.5 million. Rebranded the Flow Cannabis
Institute, it becomes the physical expression of the thesis:
centralized processing for a decentralized network of small sun-grown farms.
2018
A $22 million Series A, with Gotham Green Partners taking
roughly $15 million of it; Poseidon and Roger McNamee also participate.
Headcount peaks at 208.
February 2019
A $125 million round — at the time the largest private
cannabis financing in the United States. Total raised reaches roughly
$175 million. Over $50 million goes into hard assets.
November 2019
The first cuts: "up to 20% of the workforce." At least five further
reductions follow between March 2020 and January 2022.
2021
The company burns more than $24 million against roughly $11 million
of sales. Board documents indicate Steinmetz loses operational
control late in the year.
April 2022 → January 2023
The last full-time employees leave. Operations are mothballed,
licences lapse, facilities are leased to other tenants, and the company
takes a $3 million loan at 14% secured by property, to be
repaid on sale. Steinmetz exits by spring 2023.
Two things are worth stating precisely, because the looser versions circulate.
There was no bankruptcy. We found no bankruptcy filing, no
receivership, no assignment for the benefit of creditors, and no foreclosure
for any Flow entity. There was also no WARN notice filed with
California's Employment Development Department across four fiscal years of
reports. What happened was slower and quieter than a collapse: a long unwind,
an investor takeover, and a company that stopped operating without ever
formally failing.
The reasons were structural as much as managerial. California's legal market
in 2019–2022 was a bad place to be a high-capital, low-margin middleman:
a punishing tax stack, a licensing regime that left most of the state without
retail, and a thriving unlicensed market that faced none of those costs. Flow
Kana's thesis — that the Emerald Triangle's small sun-grown farms could be
aggregated into a premium branded supply chain — was a good thesis about
a market that did not arrive on schedule.
On the corporate relationship — verified vs. asserted
FK+ operates as FKH2.0 Holdings, Inc., a Delaware corporation
named in the site's Terms of Service and printed on every supplement facts
panel. It is not a legal continuation of Flow Kana Inc. The twenty
FLOW KANA trademarks remain owned of record by Stardust Mission Control, LLC;
no assignment to FKH2.0 appears in the public record, and no "FK+" mark exists.
Whether FKH2.0 holds a licence to the Flow Kana marks is
not determinable from public records — we treat it as
unknown rather than inferring either way. The Flow Kana association is
presented through marketing surfaces (the vendor field, the Facebook link, the
domain redirect) rather than through a recorded transfer. The Miami address at
701 Brickell Avenue, Suite 1550 is a virtual-office suite.
The pivot nobody is describing plainly.
Flow Kana was a California state-licensed distributor selling state-legal
cannabis inside California. FK+ ships hemp-derived products to 45–47
states by mail under the 2018 Farm Bill. Those are not adjacent business
models; they are different industries with different regulators, different
compliance surfaces, and different consumer protections.
The mechanism is worth spelling out, because FK+'s own lab results make it
unusually legible. The Farm Bill defines hemp by delta-9 THC content
on a dry-weight basis — 0.3% or less. It says nothing about THCa, the
acidic precursor that converts to delta-9 THC when heated. So a flower can be
federally compliant on paper and fully psychoactive in practice. Here is
FK+'s own SLEEP pre-roll flower, from its own COA:
This is not a criticism of FK+ specifically — it is how essentially the
entire national THCa flower market operates, and FK+ is more transparent about
it than most, since the numbers are right there on a published COA. But a
consumer reading "hemp-derived, Farm Bill compliant" in the site footer and
concluding they are buying something mild is misreading the situation by about
two orders of magnitude. A 24.9% total-THC pre-roll is a strong dispensary
flower. The framework places it accordingly and so should the buyer.
Part one: the cannabinoid work is excellent.
Now the good news, and it is substantial. FK+'s gummy line is the most
carefully constructed cannabinoid dose ladder we have plotted from any brand
in this series — better than Ayrloom's, better than BRĒZ's. Four SKUs,
four distinct cannabinoid stacks, four different total doses, and the doses
ascend in a clean monotonic line from the lightest daytime product to the
heaviest night one.
Read that variance column again. On the primary psychoactive — the number
that actually determines whether a consumer has a good night or a bad one
— FK+ lands within 2% of label on all four products.
That is tighter than most licensed state-market edibles manage, and it is
verified by a third-party ISO/IEC 17025-accredited lab rather than asserted.
The minor cannabinoids run a little rich (CBG is 8–15% over label across
the line), which is the direction you would rather see them err.
Credit where it is due
Four SKUs, four distinct cannabinoid architectures, every one within 2% of its
stated Δ9-THC dose on an accredited third-party assay. Whatever else is true
about this brand, somebody who understands formulation is doing the cannabinoid
work, and they are doing it well.
The Altitude Control plot
A monotonic dose ladder.
Each FK+ gummy run through the Cannabinoid Pharmacology Framework v1.
Δ9-equivalents include minor-cannabinoid contribution and the CBD entourage
modulation (0.85× where CBD:THC ≥ 1:1).
This is the shape you want and almost never see. The daytime cognitive
product sits at Tree — 3.75 mg Δ9-equivalent, low
enough to be genuinely functional at a desk. ENERGY and RELAX occupy
Balloon from opposite directions: one THCV-forward and
stimulating, one CBD-heavy and settling, at nearly the same felt intensity.
SLEEP crosses into Airplane at 10.2 mg, which is a real
dose and appropriate for a product you take thirty minutes before bed.
Note what the CBD does in RELAX. Thirty milligrams of CBD against ten of THC
is a 3:1 ratio, which triggers the framework's entourage modulation and pulls
the effective altitude down from a raw 11 mg to 9.35 — keeping RELAX
just inside Balloon rather than tipping into Airplane. Whether or not FK+
calculated it in those terms, the formulation behaves exactly the way the
pharmacology says it should: the CBD is buying headroom, not just marketing
copy.
Turtle
< 2.5 mg
Tree
2.5–5 mg
Balloon
5–10 mg
Airplane
10–25 mg
UFO
25+ mg
Balance
Tree quadrant
Clarity
Eye quadrant
Decompress
Hourglass
SLEEP
10/20/20 · 10.20 mg
Delight
Strawberry
Placements derived from label doses, corroborated by Excelbis Labs COAs dated May 2025. Method:
Cannabinoid Pharmacology Framework v1.
Botanical contribution scored at α = 0 across the line — see part two.
4 / 20
Matrix cells covered · three pillars · no overlap, no Turtle, no UFO
Part two: the botanical claim has no numbers.
FK+ names thirteen distinct botanicals across the four gummy SKUs. Turkey tail,
valerian root and passionflower in SLEEP. Reishi, ashwagandha and lavender in
RELAX. Cordyceps, green tea, maca root and yerba mate in ENERGY. Lion's mane,
ginkgo biloba, yerba mate and rosemary in FOCUS. Each gets a paragraph of
description on the product page and an illustrated icon. Each is positioned as
an active contributor to the product's effect.
Every one of them appears on the supplement facts panel inside an
"ADVANCED PROPRIETARY BLEND" with no individual milligram
figure and no total blend weight. We looked on the product pages, the
supplement facts panels, the COAs, the Science page, the blog, and the launch
press release. There is no FAQ page. There is no dose for any botanical
anywhere on any surface FK+ publishes.
The claim being tested
"No fairy dusting ever. FK+ gummies deliver clinically relevant levels of
active ingredients every single time."
— fkplus.com/pages/science
0 of 13
Botanicals with a published milligram dose
The claim is not refuted. It is unverifiable — which, for a
claim whose entire content is about dose adequacy, amounts to the same
practical problem for a buyer. "Clinically relevant levels" is a quantitative
assertion. It cannot be evaluated without the quantity.
This is worth sitting with, because it is a sharper version of the pattern we
documented at BRĒZ in Volume 04. There, the Lion's Mane dose was
published — 33 mg of a 7:1 extract — and the problem was that the
brand marketed it as "2,200 mg" using wet mushroom weight. That is a
disclosure framed misleadingly. FK+ is a different failure mode: the disclosure
is simply absent, while the claim about it is louder.
A proprietary blend is a legitimate and legal formulation choice, and companies
use them for real competitive reasons. But there is a tension between electing
proprietary-blend confidentiality and simultaneously running "no fairy dusting"
as a marketing line. The proprietary blend is precisely the mechanism by which
fairy dusting is conventionally concealed in the supplement industry. Choosing
the mechanism and then denying the practice puts a reader in a position where
they must simply trust the brand — which is the position a published
standard exists to make unnecessary.
One inference, clearly labelled as such.
We can put a loose physical bound on it. A two-gummy FK+ serving weighs about
10 grams and carries 7–8 grams of carbohydrate, 6 of which are sugar. If
the ENERGY blend delivered clinical doses of its four named botanicals
— cordyceps at 1,000 mg, maca at 1,500 mg, plus meaningful green tea and
yerba mate — that stack alone would exceed 2.5 grams, roughly a quarter
of the serving's total mass, in a confection that is already three-quarters
sugar and gelling agents by weight.
That is physically possible. It is also unusual for a gummy, and it
would be a genuinely notable formulation achievement worth advertising with
the actual numbers. We are not asserting the doses are sub-clinical. We are
noting that the one publicly checkable constraint — serving mass and
macronutrient breakdown — makes clinical dosing of the full botanical
roster tight rather than comfortable, and that FK+ could resolve the question
entirely by publishing a panel.
Framework treatment
Under the Botanical Module's composition math, an ingredient with no
determinable delivered dose is scored at α = 0 — it
contributes nothing to quadrant lean. This is not a punitive judgment about
whether the botanicals work. It is the only defensible default: a framework
that credited undisclosed doses would be crediting marketing copy. All four
FK+ placements above are therefore driven entirely by cannabinoid content. If
FK+ publishes a panel, we will re-plot the line and say so.
The lab-transparency claims need tightening.
FK+ makes two specific claims about testing: "3x ISO Lab Tested" and
"Every batch is verified 3x by accredited third-party labs." The
second is the stronger one, and it is the one with problems.
All eight COAs we located come from one laboratory —
Excelbis Labs of Santa Ana, California, ISO/IEC 17025:2017 accredited, licence
C8-0000059-LIC. One accredited lab is fine and normal. But "three accredited
third-party labs" describes something different from what is published, and we
could not find a second or third lab's results anywhere.
More consequentially: the four gummy COAs have a blank Batch # field.
A certificate of analysis with no batch number cannot be matched to a package
in a customer's hand, which is the entire function of publishing one. That is
difficult to reconcile with "every batch is verified." All eight COAs are dated
1–13 May 2025 — roughly fifteen months old at the time of writing
— which suggests they are launch-batch documents rather than an ongoing
per-batch record. There is no lab-results index page; we tried
/pages/lab-results,
/pages/coa,
/pages/certificates and
/pages/lab-testing,
all of which 404. COAs are reachable only as individual per-product PDF links.
The aggregate PDF linked from the Science page contains only the four flower
COAs, not the gummy ones.
And one number that does not match.
The SLEEP pre-roll is marketed as "30% THCA + 10% CBN." The
THCa figure is fine — the COA reads 28.14%, which rounds to 30% loosely
but defensibly. The CBN figure does not survive contact with the document:
CBN is the entire pharmacological rationale for a sleep pre-roll. Advertising
twice the amount the brand's own lab measured is the kind of error that
undermines the rest of the transparency case — particularly for a company
whose Science page opens with "Quality + efficacy + transparency is our
obsession." We assume this is a stale marketing asset rather than an intent to
mislead; a formulation changed, or a target spec got printed instead of a
result. But it is on the live site, and the COA that contradicts it is linked
from the same page.
Two smaller items for completeness. The SLEEP gummy COA shows substantial
pesticide and mycotoxin blocks marked NR/NT — not reported, not tested
— while the summary line reads "Pass"; a pass on an untested panel is a
weaker statement than it appears. And the COA client address reads "FK+, Los
Angeles, CA 92007," which is a Cardiff-by-the-Sea ZIP in San Diego County, not
Los Angeles. Minor, but this is a document set whose purpose is precision.
Editorial verdict.
Cannabinoid disclosureExcellent
Label-to-COA accuracy (gummies)Excellent · within 2% on Δ9
Dose ladder coherenceBest in series · monotonic
Botanical disclosureNone · 0 of 13 dosed
Marketing-to-COA consistencyFails on pre-roll CBN (2×)
Lab transparencyPartial · one lab, no batch #s, 15 mo stale
Framework compatibilityHigh on cannabinoids · nil on botanicals
DankeSuper ratingPromising · pending disclosure
FK+ has built the best cannabinoid dose architecture in this series and
wrapped it in a botanical claim it does not substantiate with a single
number. Buy the gummies for the cannabinoid engineering, which is real,
third-party-verified, and unusually well-targeted by effect. Do not buy them
for the mushrooms and adaptogens until FK+ publishes a panel. One document
would move this brand from "promising" to genuinely category-leading, and
the fact that it hasn't been published is the most interesting thing about
the company.
Editorial firewall · disclosure
DankeSuper has no commercial relationship with FK+, FKH2.0 Holdings, or any
former Flow Kana entity. No affiliate revenue, sponsorship, or product was
exchanged for this coverage. All chemistry figures are taken from FK+'s own
published COAs and label panels; corporate history is sourced from MJBizDaily,
Alta Journal, Forbes, and public filings, all cited below. Where we could not
verify something — particularly the trademark licensing relationship and
every botanical dose — we have said so rather than inferred. See the
editorial firewall statement.
What FK+ tells us about the category.
Three volumes into examining the cannabinoid-plus-botanical thesis —
Ayrloom, BRĒZ, now FK+ — a pattern has hardened that is worth naming.
Cannabinoid disclosure in this industry has become genuinely good.
Botanical disclosure has not.
The reason is structural, not moral. Cannabinoids are regulated, tested, and
quantified because a compliance regime requires it; the COA exists because the
law made it exist. Botanicals in the same product fall under the dietary
supplement framework, where proprietary blends are permitted and per-ingredient
disclosure is optional. So the same company, in the same gummy, operates under
two disclosure cultures at once — and consumers, reading one label, have
no way to know the two halves are held to different standards.
That is the gap DankeSuper's two-module framework was built to make visible. It
is why the Botanical Module scores undisclosed doses at zero: not because the
ingredients don't work, but because a standard that accepts unquantified claims
stops being a standard. FK+ is the clearest illustration yet, precisely because
it does the cannabinoid half so well. The contrast within a single product is
the argument.
We would like to update this piece. If FK+ publishes per-ingredient milligram
doses for its proprietary blends, we will re-run the Botanical Module against
the line, re-plot the quadrant leans, and revise the verdict on the record. The
cannabinoid work here is good enough that the brand deserves the chance —
and the founders, whatever happened in Mendocino, have demonstrably learned
something about formulation between the first company and this one.
Sources & verification
- FK+ product pages & supplement facts panels — fkplus.com (SLEEP / RELAX / ENERGY / FOCUS gummies and pre-rolls)
- FK+ Science page, "No fairy dusting ever," "3x ISO Lab Tested" — fkplus.com/pages/science
- FK+ Terms of Service (FKH2.0 Holdings, Inc.) — fkplus.com/policies/terms-of-service
- Excelbis Labs COA — SLEEP gummy, Blackberry Açai, May 2025 — batch PDF
- Excelbis Labs COA — SLEEP pre-roll flower (Δ9 0.2119%, THCa 28.1433%, CBN 5.0901%) — batch PDF
- Aggregate flower COA set linked from Science page — COAs.pdf
- Excelbis Labs, ISO/IEC 17025:2017, licence C8-0000059-LIC — excelbislabs.com
- FK+ launch announcement, 28 May 2025 (paid press release) — PR Newswire
- MJBizDaily — "Once-lofty future of Flow Cannabis Co. and Flow Kana brand now uncertain" — mjbizdaily.com
- MJBizDaily — "Flow Cannabis Co. mothballed as it seeks to survive" — mjbizdaily.com
- Alta Journal — "Super Puffed" (financials, campus, unwind) — altaonline.com
- Forbes — "California's Largest Sun-Grown Cannabis Company Raises Record-Breaking $125 Million," 14 Feb 2019 — forbes.com
- Kym Kemp — November 2019 workforce reduction — kymkemp.com
- California EDD WARN reports (four fiscal years, searched — no Flow entity filing) — edd.ca.gov
- USPTO TSDR — FLOW KANA marks, current owner Stardust Mission Control, LLC — tsdr.uspto.gov
- Cannabinoid Connect #418 — Mikey Steinmetz on FK+, 21 Aug 2025 — cannabinoid-connect.com
- Clinical dose thresholds: valerian (Bent 2006), passionflower (Ngan 2011), ashwagandha KSM-66 (Chandrasekhar 2012), lion's mane (Mori 2009), ginkgo (Solomon 2002), lavender/Silexan (Kasper 2010)
- DankeSuper Cannabinoid Pharmacology Framework v1 — /science/#framework
- DankeSuper Botanical Modifier Module v1 — /science/#botanicals
Chemistry and pricing verified against live pages and linked COAs as of August 2026.
FK+ is invited to submit an updated ingredient panel; we will re-plot and publish a revision.