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Madmen
Hosted & Produced By:
Elliot Lane
Aaron Thomas
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Unedited Transcript:
Friends it is feel good day today. What is cracking? This is Elliot Lane host of cannabis daily, as always thanks to my producer, Aaron Thomas, who will be joining us in five-ish minutes to chat through some news as he does every Friday.
Thanks Benzinga for giving us the platform to do this. We bring you news and insights every day. A lot of stuff happening, man, on Aaron. I don't know why they don't spread some of this news out away from earnings a little bit, but maybe it's to cover up some of the earnings who knows, but tons of stuff to talk about today.
Obviously we got lots of opinions and hope this gives you a direction to look at for your day. So let's get. Tilt holdings having those a week. Y'all T L L T F or suitable for adult use at another Massachusetts dispensary, the second one in a week in that state pending final inspection. So I think final maybe Is is coming, but pretty much, they're still props to Gary.
Mann's leaving that company as good as he else in this, in this industry, flora grow their side of life. FLDC announced pricing of unblock offering of 10 million units at three bucks per current. Well, when I looked earlier was around 360 9 three 69 cents. Of course. I believe that is down 30% since they announced that news.
I still a fan of flora growth. I think they have one of the more. Product lines and footprints in the base, obviously Latin American base. So you have to believe in that part of the world's cannabis operations, but I think for growth is a strong company, but the market, not a fan of this news. So they will continue to be listed through this.
And we'll see how this turns out. Company village farms would BFF cannabis and produce operations, not affected severe weather. Just in case you are wondering, I personally was not aware of whether in British Columbia, but it's good to hear that are continuing on as normal unity road item labs of basically they're their franchise.
Well, the dispensary model is unity road joins the international franchise association item nine labs listed on the OTC for I and L B first cannabis dispensary franchise to become members. Cool update. I think, you know, moving. Forward into this skin being the leading franchisor in cannabis. And this remains the fact, you know, once of course everything's federally or somebody else jumps into the franchise model, who knows in the feud and nine labs is working really hard to lead this part of the sector.
Great. It's a California based company, their OTC GPF T has to release a Presley's defy their sale of stock by executives execs, take salary and do favor equity compensation. Their sales of their stocks are all executed by perforators told to minimize the price volatility, not sure successful those traders were considering they had to release a PR clarify.
But I like the. Form of compensation for the executives, but obviously they paste this out a little differently in the future admin, M M in FF trial, coming to a congestion, former CFO Parker resigned, but felt full claims. He is owed just under 25. Millions has higher and so will go to jurors as early as next.
MI w you know, obviously I, I'm not familiar with this case, med men, of course, several lawsuits in the, this seems to lean toward med men, everything that I've read this morning. Scott Cooper, as it, and CEO of Hexo has also been appointed to their bub directors props to him. He has experienced with trusts horrors, and obviously texts.
For Sebastian St. Claire after harsher last but not least. Nope. Nope. Two more news. I hide your face. I'm sorry. A Conda court testing the waters of in the U S this is pretty big, in my opinion, a national company to listen to the U S probably since. Which isn't that long ago, but you know, nobody really S in my opinion to them and, and for growth, but this is an international medical cannabis company with assets, such as a cultivation and processing campus in South Africa as tan Mart in the UK.
So in my opinion is going to be. Super interesting to watch. I think we'll probably be along the same lines as insecure that not necessarily to till raise level at yet, you know, probably not to the excitement of flora growth court, but you know, I, this is Intercare could be a good comparison for how a conduct could be would once it lists in the U S.
Last, but not least give a shout out to my main man, Michael Mills body in my other stellar news release for their rec year end financial results. Year over year revenue increased 332% from the end of 20 at the end of 2021 Q4 revenue. 40% sequentially profitable Q4. They are going to have a call at 11:00 AM Eastern.
We'd like to tune in today. But I'm very excited for them has worked incredibly hard. He's taken all of his debt off of his sheep. He is of course always open to adding more debt than anybody else in the space. And also, you know, shout out to cannabis. I'm pretty major debt financer in the space cannabis hour, chatting about what debt has done for cannabis.
So please tune into us know any thoughts you have there, but I, in my opinion, I'm super body and mind that's B M M J on the OTC. I think Mike Mills, Gary Santo, two of the most underestimated executives in this industry. I think they're both incredible. So big fans of tilt, big fans of body of mind.
And make them on your watch list at the very least, if you can invest in us plant touching companies. So with that being said, Elliot's ramble for the day is done. And Aaron Thomas has Ram day begins. What's up big 80. What's up big Elliot. How's it going? I'm actually kind of a big dude. So watch your face.
Oh, I'm good, man. Happy Friday. Good things. This is a podcast. I know what I'm trying, man. I'm trying to lose that way. What are you going to hear drinking? Half a cup of creamer in my coffee, but we're still in zinger nation. Don't worry. Elliot is a great looking dude. So my man trying to woo me over. Once you got for us today, let's get right into it.
So you touched on it yesterday, but let's start it off with this New York subways ban ads for cannabis or mushrooms. So ads about psychedelics is cannabis and other things that promote unsafe behavior are now banned by new York's MTA. So since you brought it up, Aaron, you know, I did mention this yesterday.
You've been on the subways in New York recently, recently. It's, this is hysterical to me. Like, I mean, it's the same thing with Gavin Newsom in California, banning the billboard, same thing, I think in like South Dakota and some of these in Michigan and some of the states where they have like advertising bans on case, which is actually not too far away from other sins, like alcohol and tobacco.
But what's funny to me is the ads for like OkCupid and some of these other types of companies are so sexual. Yeah. And the subways, and they're worried about like, And I'm just like, have you guys seen the orgy ads you've put in the subways recently? I'm not sure if you have or not, but it sounds like, yeah, I actually saw that when I was there.
I thought it was hilarious. And then on another note, so even if you're downtown in New York and you just walk around and you're just going to get the message of marital. Everywhere you go, every corner you turn, someone has marijuana, there are stores where you can buy marijuana and smoke it right outside the store in New York city.
So, I mean, we'll see how this goes. And this is just so silly, but I mean, I get why it's on the same level as the others, these other SIM products, but something definitely not equal this picture. Anyways. What's next brother. All right. So we touched on New York where you live, let's touch on Michigan, where I live.
So Michigan works to limit the amount of cannabis that caregivers can grow. This is not a positive move forward that I think at least Michigan wants to limit caregivers, grow amounts of move that is always contentious in the medical cannabis community. So let's see. So here's, I I'm torn if I'm going to be honest.
Y I, what do you, I mean, if you have the exact limits, let us know, but you know, you can't run a medical cannabis business out of your basement, right? So like, you know, if it's limiting to like maybe six plants or something like that, I don't know. I don't know what a medical cannabis patient needs, because I am not one.
But you know, I, I would hope that research has been included in this decision, but I will admit, like you have to allow people to grow their own cancer. It has to be seen that, like, I can make my own beer whenever. You know, so that doesn't take that. Doesn't stop me from going to the store and buying white claws or craft beer whenever I want to.
But you know, in terms of cannabis, like you can't just have a whole damn field in your basement. Excuse my language. Yes. So. The upshot of all the bills is that they would significantly limit the amount of marijuana. The caregiver can grow, reducing the number of cannabis plants from 72 to 24. So definitely a 66% cut there.
And then, so two thirds of the market right now of cannabis in Michigan is unregulated. And so what that means is the majority of that product can be untested as quoted by. A local television station. What TV? So cancer for patients. Those with immunocompromised situations, getting access to safe product is really important.
Some of this untested product has been found to contain mold, pesticides, Cola, salmonella. So if this is what the studies are showing and you know, obviously this is for the medical market Definitely you want a better product there so that, you know, the end user and customers have a better experience, aren't getting a bad product that in turn hurts their health and not helping their health.
Yeah. Yeah. So I think, I mean, honestly, like I'm, I'm not overly bothered by it, but again, like I also don't claim to know what a medical cannabis patient needs. And so I hope that research has been taken into account. Good stuff, man. Aye, what else? You got some more, right? Yep. I got two more things. We're going all over the place today.
So let's move on to some more federalisation news. So Schumer, Chuck Schumer wants to keep the big boys out of marrow out of the marijuana industry and says legalization. Bill is past. So Senate majority leader, Chuck Schumer wants to keep the big boys out of the marijuana industry in favor of creating opportunities for smaller operators.
When canvas is federally legalized and he says his upcoming bill would accomplish just that. To me, I have, in my opinion, like it really is just a cop out. And, you know, the, the investment opportunity in this space drives a lot of these types of opinions. And I get that and it, it does obviously make a part of my opinion, but at the end of the day, it, it it's, in my opinion, it's, it's his job and the job of Republicans and Democrats to figure out how to create social equity opportunities, opportunities for small businesses, while also allowing companies that are in the space and have worked hard to be in this space right now.
You know, so I think just limiting and saying you're, you're here to, to stop this from becoming too corporate. The only people in this industry that, that excites are the small businesses in California that haven't been able to compete. And I, I mean, to me, that's not good enough, but at the end of the day, I mean, I'm not a politician.
I don't claim to have all the ins and sources there, but I don't know, man, I. I feel like you should not limit an industry that could be so beneficial to so many states. Absolutely. And I agree with you there, but I think if this bill does pass in the right way, definitely could be more inclusive or it makes the industry more inclusive.
Right? So we have these smaller, smaller operators who are being noticed who are getting their fair share and. As well as these big operators who are coming into the space and now that it's federally illegal taking it advantage of all their initiatives and all of their you know, big, big practices that they've put into place over the years and finally grabbed the fruits of that.
Yeah. Yeah. I mean, honestly, like I think you have, you have to do this for small businesses too, and I'm not saying due to. Not work for them. Obviously. I think you have to create a path for people to start their own businesses and you can't just let Ms. Sows be the only cannabis businesses out there that is not a sustainable industry, but you know, you can't limit the MSOC either.
So, I mean, I think ultimately like it's, it's an extreme statement. But ideally there's more behind the bill, you know, like you're saying you know, and we'll all see how it comes out in the wash. And if Nancy Mesa get through gets there, even if Mitch McConnell lets Nancy Macy's get through. But we'll see, you will see.
I I'm hoping for the best. I think we all know. Yeah, hope. Hope is the key word here. No legislation this year. All right. Let's end it on a nice light notes. W we're going to take it overseas to end, ended up or ended off, I know what you're going to say. Yes. Germany set to legalize marijuana nationwide.
After major parties, reach agreement, party leaders in Germany. Germany's incoming government coalition have reached an agreement to legalize marijuana nationwide. The legalization legislation is expected to be introduced. Introduced during the upcoming legislative session, it will also provide broader drug harm reduction services and restrict advertising of tobacco and alcohol.
Along with cannabis, as it stands, personal, personal possession of marijuana is decriminalized in Germany and there's a medical cannabis program in place, but this forthcoming proposal would seek to establish a regulated market for adult use. Nice. So far today Tilray up almost 3% to 2.7, 5%. And if this news doesn't spark some move until red be shocked surprised that this move didn't spark, or if this news didn't spark a lot of other moves, you know?
Yeah. For me, the two big ones that I would look at are artillery. And cure leaf. So those two specifically public stock wise are I think the ones, it looks like what's like clearly is up this morning a little bit. So. Yeah, I mean, honestly, like those are the two stocks they're both up. Not as much as I would have assumed on this news, but I mean, I don't think anybody is directly in, but you can also look at other companies like flower Corp like perhaps heck so has some international, I think village farms is expanding into Northern Europe.
So I mean, there's a lot of companies that are investible that can take part of the. No worries, Aaron. That was fun, bro. That's some good, you know, I hope we didn't get too political on you all today. Obviously we want the best for the industry and we want it to keep growing so we can all make that money on it.
Y'all
Yes. Fun always intended. Aaron, appreciate your brother. Happy Friday. Feel good Friday. Man we are long-winded. These are these Friday episodes, 20 minutes, but it feels so short and quick have fun on these. I have a lot of fun on these. So the time flies. Yeah. Thanks everybody for tuning in cannabis, our benzinga.com.
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And then we will be off next Thursday and Friday. But we will see you again on Monday. There's Hey investors. Thanks so much for tuning in to Benzing. As cannabis daily stock picks and news podcast everyday pre-market. Once again, this is not financial advice. Please do your own research. We hope we bring you the best and most efficient news for your investing.
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