WTR Small-Cap Spotlight

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Jesse Redmond, Head of Cannabis at Water Tower Research, reports live from the Benzinga Cannabis Capital Conference in Chicago. Jon Levine, CEO of MariMed, joined us to discuss the steps the firm has taken to make 2023 such a successful year. He shares his thoughts on the recent political progress and gives us a preview of the firm’s 2024 game plan. David Goubert, CEO of AYR Wellness, shares how his background in luxury retail has helped improve AYR’s operations. We also touch on the major markets that may flip adult-use in 2024 and he shares his priorities as we enter the new year. Finally, Shane Johnson, Senior Vice President of InMed Pharmaceuticals, discusses its rare cannabinoid business. InMed acquired BayMedica and he explains how the businesses are complementary and what has been driving the firm’s strong top-line growth. We also touch on its most popular products and how the firm is positioning for success in 2024.

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 Bakkt Chief Product Officer, Crypto Dan O’Prey joins WTR's Tim Regan and Dr. John Roy to discuss Bakkt’s crypto infrastructure business, the company’s history as part of ICE, cyrpto currency differences, Bakkt’s custody focus, and why it is different. The discussion also highlights Bitcoin ETFs, pending crypto regulation, and some of the biggest misconceptions about crypto. 

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Marizyme, Inc. CEO David Barthel joins WTR’s Tim Regan and Matt Borsch to provide an introduction to Marizyme, a fast-growing biomedical company engaged in the accelerated development and commercialization of products from its multi-technology platform.  A key focus for our podcast discussion was DuraGraft, which is the company’s ground-breaking flagship technology that offers a clinically-superior innovation to improve patient outcomes as well as cost efficiency associated with cardiac care, with further applications such as organ transplantation on the horizon. Recently introduced in Europe with planned implementation in the US markets pending FDA approval, DuraGraft has already gained acceptance in key EU markets backed by strong evidence for its efficacy. We discussed the company’s near-term key goals (as well as the inherent risks to navigate) that include strengthening the foundation for commercialization in US markets as well as further product innovation. Finally, we briefly touched on the CEO’s preliminary target of reaching $25 million in annual revenue by 2025 on the way to robust further growth. 

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Poseidon Asset Management Co-Founder and Managing Director Morgan Paxhia joined Jesse Redmond, Head of Cannabis at Water Tower Research, to discuss the recent rally in cannabis stocks. The potential to move cannabis from Schedule I to Schedule III has ignited the space. Paxhia and Redmond covered what’s gone up the most, why these stocks have surged, and what types of names investors may want to own moving forward. They also touched on Maryland launching adult-use sales and contemplated when Ohio, Pennsylvania, and Florida may make the move to recreational cannabis. The conversation concluded with Paxhia sharing the biggest risk we should monitor heading into the New Year.

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 AEye Co-Founder, EVP and Chief Strategy Officer Jordan Greene joins WTR's Tim Regan and Dr. John Roy to discuss AEye’s leading lidar (Light Detection and Ranging, uses directed lasers) technology and capital light / licensing business model. Greene reviews the characteristics of Aeye’s MEMS (Micro Electronic Mechanical Systems) and software lidar technology and its partnership with global Tier-1 auto supplier Continental. The podcast outlines the auto safety business cases, the upcoming OEM (Original Equipment Manufacturers, aka car companies) selections, and the near-term potential for ADAS (Advanced Driver-Assistance System) sales. 

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TMC the metals company CFO Craig Shesky and the Head of Stakeholder Engagement Corey McLachlan join Jese Redmond and Dmitry Silversteyn to discuss the roadmap toward the development of an international mining code for deep sea exploitation of the largest known battery metal resource in the world.

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Filament Health CEO Ben Lightburn joins WTR's Tim Regan and Jesse Redmond to discuss Filament's exclusive focus on naturally derived psychedelics and what sets it apart from other psychedelics drug developers. Lightburn reviews the characteristics of Filament's in-house drug development programs and talks about its expanding partnership network and the benefits it brings to the company. The podcast also covers the reasons behind the recently announced merger agreement with SPAC Jupiter Acquisition Corp. 

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iPower CFO Kevin Vassily joins Thierry Wuilloud, Emerging Growth and Special Situation analyst at Water Tower, to discuss iPower ecommerce platform and its strong position on leading online marketplaces.  The podcast is hosted by Jesse Redmond, senior analyst at Water Tower.  Kevin explains how data analysis pervades every step of the value creation process at iPower, from conceptualizing a new SKU, to product design, sourcing, logistics, and merchandising, and how this data-driven approach has helped the company achieve strong gross margins and sustained top line growth.  Kevin also discusses the opportunity to monetize that expertise via the company’s new business service venture.

The conversation concludes with Kevin discussing the prospects for iPower going forward, in particular how the company should be able to go back to EBITDA profitability in FY2024 (June) as the supply disruptions that have recently impacted the business have been corrected. 

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 In this week's Water Tower Hour episode, Shawn Severson and Tim Regan talk with Bryce Anderson, VP Investments, of RE Royalties, about applying the well-proven royalty financing model to the renewable energy sector, while providing public equity investors with the opportunity to participate in this fast-growing market and the company’s strategy to continue its strong performance. 

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In this week's Water Tower Hour episode, Shawn Severson and Jesse Redmond talk with Dr. Raj DasGupta, CEO of Electrovaya, about his company's continued focus on profitable growth in the lithium-ion battery market based on the company's proprietary Infinity Battery Platform and how existing applications still present significant expansion opportunities with new markets on the horizon.