New post on my Substack. The Impact of Competition on MSOs' Cash Flow and Working Capital $MSOS $GTBIF $VRNOF $CRLBF $CURLF $TCNNF $MSOX $AYRWF $TSNDF

Verano now has 4 different liens on their new FL facility. It also appears they have invested at least another $40M into the facility on top of the $37M purchase price.

@1_adoy @thatguycar1 Only applies to officers and directors, not to issuers

Reminder that SAM is very good at what they do. They know how to play the DC game much better than the cannabis industry. Although, in my very uneducated opinion, I can’t imagine this bill passing

Most likely. They could've (and should've) adopted a 10b5-1 buyback plan prior to the blackout period given the weakness in the sector going into the blackout period. This would've allowed them to still buyback shares during the blackout. Guessing they most likely didn't, as no mention on the previous 10Q or other notices. Hypothetically, the could've adopted one right before the blackout period and would not be required to disclose until their 10K.

@Bkov9 @TheDankInformer You have a buyback program in place, but you won’t stop commenting about an ETF selling your shares and pushing the price down. Do you want to buy them back higher? Hit em with cool and move on. Your commentary is getting ridiculous. Keep executing and it will take care of itself

@jfberke @GrantSmithEllis @TheDankInformer Love them or hate them, they are very good at their jobs. They were the ones that had inside information from the DEA, not the cannabis execs making millions

@UScannainvest Verano

CORRECTION: My initial assumption was incorrect. It appears the 4.2M shares issued were related to the amended 2024 Bloom notes, which gave Curaleaf to right to force conversion of the $16M due at a conversion price of $3.85. This resulted in roughly a $10M costs savings for Curaleaf. I apologize, I should not have made assumptions.

CORRECTION: $CURLF My initial assumption was incorrect. It appears the 4.2M shares issued were related to the amended 2024 Bloom notes, which gave Curaleaf to right to force conversion of the $16M due at a conversion price of $3.85. This resulted in roughly a $10M costs savings for Curaleaf. I apologize, I should not have made assumptions.

@thealexjordan Which transaction.....

@srg444 🎯

@aaronvalue Didn’t say on the sedar filing

@FelkerJosh If you skipped all building and safety codes when building a hotel, you could charge way less, but you would be instantly fined and shut down. That largely doesn’t happen to illicit cannabis operators

For comparison. Reminder that the other is in GBP whereas this is in USD. Also IFRS vs GAAP. Also unclear if there were other companies in Curaleaf International that were not included in financial statements filed with the UK government.

Cresco has a difficult balance sheet. It’s unknown what their actual taxes payable are because they combined it with the tax receivable agreement. Correct me if I’m wrong, but the $60M TRA liability is the result of additional tax benefits payable under the TRA (over many years) if 280E does not apply