 chat. We are live with Kieran Sidhu, the CEO of Halo Collective. This is a live AMA. Ask me anything, opportunity. So feel free to ask us any questions. And why don't we start off by talking about the Akanda listing on the NASDAQ. So nine months ago, it was, you know, my partner, Nicole, was telling me, she said, honey, I remember last February, you were working 80 hours a week, and you said there is no way on a company I could handle, Oregon, California, Lesudu, and the UK. And I said, yeah, I have to do something with the UK and Lesudu. About the same time, I was made an advisor to a company called Flora Growth, which I'm no longer an advisor to. And Flora actually took a Colombian, literally not one plant grown company public on NASDAQ for, I think it hit half a billion at one point, it's come off to over 100 million. But, you know, I don't know what they're doing now. But I saw that and I said, let us do the same thing. And we actually are growing. We actually have something. And then I began the recruitment process using a really good headhunter. And it came down to two candidates. And then Bruce, I had a call with Bruce Whitton. And Bruce said to me, look, Tage is your man. So I spent, with Tage and I were hip to hip, last March through, I would say, late March, April and May, two months, we were hip to hip. And, and honestly, in many ways, he's a, I mean, he's a better CEO than me. I mean, the guy's very organized, he's highly competent. You know, he's paid twice as much as me. He's paid over a million dollars a year. And, and it was a vision and Tage and Louisa ran with it. And from concept to IPO, they did it nine months in the middle of a war. We're not in a tough market. No, tough market. Nothing. I haven't seen an IPO get listed in forever. Oh, in my opinion, this is for many, this news for the cannabis business. You got a couple hundred million dollar IPO, 15 million raise, goes out with a boot exercise at day one of 16 million, right? Stock probably IPO price at $5. Stock last I looked was trading nine to 11, right? Then as high as 31. It was as high as 31. It was sitting at 17 for quite some time. I'm highly confident and I really believe in Tage. And this is, and this gets down to do something with the economy shares. First of all, in a conda, we committed with a larger shareholder, where 44% and we're known as what's known as a 13G filer. And we're an affiliate under US SEC rules. So we've agreed with the underwriter balance fed on a nine month lockup on half and 12 months lockup on the other half. Now everyone's saying we turn that capital. Let's see how Halo 10 does, right? So that capital first and then, okay, so guys, so I know a lot of you guys are asking when you're going to get shares on a candle. What Kieran is saying is that the shares are held so that they're locked up for a period of time. So there's not going to be any dilution in the market. And what's going to happen is Halo tech is coming next. You will get shares issued in Halo tech. Once Halo tech gets done and they get a chance to see how that works, after everybody gets their shares issued and is able to sell and they get a chance to see how that market responds, then they will determine how they're going to move forward with a candle. Is that correct? Correct. Okay, so that's that's the message I'm getting. Hopefully that answers a lot of your guys' questions. We have another question. Why are all the new shares being issued? No, new shares are being issued as we draw on our facility and the facilities convert. All our debt facilities have convergent features. Now we are in an interesting position because we have credibility with a conjure and we've been, as I said, nurturing other trees. Because one of Halo's strengths, which is now proven, is to take assets in, incubate them and spin them out. To maximize shareholder value. So now that we have credibility there, we have much larger firms coming to us. The structure I envision in the future, if we do this, is we bring it in to its own company and we LBO leveraged buyout, highly leveraged, only against the assets we buy and then put a good operator in there with no recourse to the parent. So in effect, we have a call on very large companies because their aspiration is to do this with a condom, now do it with us. Right? Okay. So that makes sense. It's a very interesting. And then Halo gets to hold those assets on the balance sheet, correct? And all the revenues and profits come in. So Halo owns 44% of a condom. But that we don't consolidate because if we consolidated it, we'd never get an asset listing. It's a minority interest company. But because Nasset does not list US plant touching company. This is the first time a subsidiary of a US plant touching company that touches the plant itself has gone public on a major exchange in the United States. Right? This is history in a lot of ways. And to be honest with you, I can't even think of an IPO that's gone public in and been successful in a long time. The entire IPO market's dried up. Last year, or maybe even the year before, it was like IPOs all the time. And we just haven't had many IPOs. It's like the IPO market just dried up. I think after Robinhood, was it Robinhood? One of the last ones Coinbase? Yeah. I mean, and they got destroyed. So Robinhood and we're not destroyed. No, no, we're doing well. And he is in a quiet period, everybody. For the next 10 to 15 days, a canada can't tell you what they're doing. Right? They're in a quiet period because they just listed on the NASDAQ, but they got to stay quiet for, let's just say, at least the next two weeks. Right. And then you'll be able to see suppressed releases. Right. And I am hopeful that Conner will rise from this level. And what's their share structure? Very tight. So you have Hale as a founder. Yeah. The Tays in Louisiana founders. And there are two or three other founders that actually put the market together. And the founders are all locked up for nine months and 12 months like us, I believe. No one can sell. And we're all affiliates. So that means that if we sell, it's leaky, leaky. There was a round down at 250, which I personally participated in. Right? Yeah. And that round at 250 is locked up for six months. Then the IPO, which is, I believe, an eight, 60 million, I think divide through is what five, five is, I got to look it up, but I think it's just a couple of million shares. So eight divided by 16 is 2 million. No, the IPO is under five. So you got 16 million divided by five. That's the flow. The flow is like two and a half, three million shares. Right. It's a tight flow. Very tight flow. Believe me, we've learned all lessons from Halo on tight flows. And after your guys reverse, Halo's got a much tighter flow now. What's the flow on Halo right now? Well, what's the share structure right now is 58 million. So guys, Halo collective now has 58 million shares. Right. So it's a very tight flow. Right. And you saw what happened after they announced the listing of a Canada, the stock, Halo stock exploded like 50% that day. That's because it has a really tight flow now. And people can buy and sell in this market. But at this point, I mean, if you look at the share structure and you look at the revenue and you look at everything, you'd have to say the Halo collective is undervalued now. Right. Would you agree? I think it is undervalued right now. Let's say, I saw a comment that there's 70 million, but I don't know if there's 70 million, I'll go confirm it, 68, 70, whatever. Let's say there's 70 million shares up there. And Halo's stake in a conda alone is worth what? It's today, I don't know, 120 million bucks, US, 150 million. Not a bad investment. 150 million. And our market cap today is what? It's 40 million, 50 million Canadian. So 200 million Canadian and 40 million Canadian. There's a huge ARB opportunity there. Absolutely. And those shares are tied up. There's nothing we can do with it. So they can't sell guys. So there's not going to be that dilution from insiders or any of the early stage investors because they're tied up for 9 to 12 months. It's beautifully done. And I want to do more and more of these. Right. I have the message here from Sunny, where is Halo's core business in terms of revenues for the year? And what is the target for 2022 revenues? Burnings are coming out at the end of this month. I cannot talk about that. Guys, one thing I like about Kieran is that he is fully transparent, just said to you, he can't talk about it. So if there's something he can talk about, he will. If there's something he can talk about, he's going to let you know he can't talk about and why. And he's always going to do everything he can to let you guys know to the best of his abilities where things are at. He can't talk about 2020 revenues just because they're in a quiet period, guys. And I can't give you forecast at this point until we officially give forecast for this year. I can tell you that a lot depends on these dispensaries. NOHO has opened up. It's a pop up right now. So I love, you know, Ryan, I would put them up against any dispensary operator in the United States. I mean, I always call Ryan when I go to Washington, I go visit a dispensary. I think he has three out of 10 of the top dispensaries in Washington, the data is public. And he has, you know, he's affiliated with lots of large grows, lots of distribution. I believe they're doing flower shop Allen Washington. And, you know, his concept is grab and go. So we're one of the only dispensaries to take a shopping cart and grab and go. But he's only taking a portion of the space we have building it out, seeing how it works before he expands it. But in NOHO, we have space to put up a super store in Westwood, which I would argue is the best location in LA. I'm talking walking distance to Century City, walking distance to Beverly Hills, not walking distance, but close to UCLA, right on Santa Monica Boulevard. It's killer. Again, we're going to put up a pop up and that we're, we're next to Carmine's. We're talking to Carmine about taking over the entire space, but let's validate it first, right? Let's make sure we're good before we burn a lot of money. Oh, it makes sense. I was speaking to a CEO who recently opened a dispensary in LA and he went all in. And he went next to Skizzy in LA thinking he would have had volume. And that dispensary is, is having a difficult time covering security costs. One thing we've made sure is there isn't some big hitter. There ain't a cookies, there ain't a jungle boys, there ain't a Skizzy next to where we're at. Yes, you don't have that. Retail is low time, right? And we're trying to learn as much from other people's mistakes. But with Beau, who's Ryan's right-hand man, head of our retail, president of our retail, and Ryan, as our chairman, actively involved in retail, he is really trying to shift our focus to retail. And he says, Kieran, it's a very simple process. You sell marijuana from your farm to a distributor. It goes, let's say, this is a hypothetical number, it goes for 500 a pound. Distributor takes it. He sells it to a, he walks up 25%, 700 a pound to a retailer. A retailer sells it, it's a keystone, twice. It goes for 1,400 a pound, obviously an Acer, this is the US, so they're not brands. And what he's saying is that this is where the big revenue is, this is where the margin is, subject to 280E tax, because you have the other stuff to get the tax. And he's saying, look, we are integrated in California. We have good manufacturing. We're distributing to our own stores. We have our own Bodega brand. So I encourage everyone to go to Knowhouse, see the Bodega brand and stuff. Everyone loves the name Bodega. I think Scott did a great job there. And yeah, I, you know, just come on down and take a look. I have a bunch of questions. Have you sold a single beverage yet? No, we have not, but we have sold some rosin. Okay, great. But this is part of what I call the bundling exercise. Okay. Halo has assets on deck. Like we took those assets, you wouldn't believe how many people bitch about the halo tech assets, right? Yeah. And now they're being bundled. They're going to be a Neo or CSE company. And it's going to take on a life of its own. LPH says, where do you stand with elegance actually producing THC infused beverages? They're not, again, elegance is sway. Sway is just found through the listing on a Neo. So that will be an independent company? That will be an independent company. Now, very important is their mainstream. So they're into liquor stores, into the part, you know, into grocery stores. So that's not THC. THC beverages will do in California and Oregon, but it's still a very small market. That's right. So that is lower on the scale. Everyone is talking about dilution. So get those beverages units up will be a million dollars, right? Probably with working capital one and a half to two. Okay. Why do we want to spend the money on a small market right now? It is growing. But right now let's focus on building our vape parks up. Let's focus on getting our flower out there, especially our indoor. Let's focus on the basics. We're getting a lot of messages here. Can you comment on the other potential spinodes, either timeline, business venture, CBD, beverage, gummy, and region, et cetera? Sure. So, um, so halo tech is definitely a worldwide concept because it's not a 280e assets. Yeah. Um, obviously there's going to be a strong CEO there. Okay. I think the prospectus is coming out hopefully in the next couple of weeks. Auditor going on. And I have to apologize to everyone because we're always late. It seems to be a tradition in the cannabis business is, you know, it's just, there's too much going on and we're learning from that. So we're not going to make is aggressive, you know, saying we're going to have to dispatch these up in January, it's March and now they're coming up, right? I understand. So halo tech, but in the next couple of weeks, the prospectus will be out. Let's say it'll be trading by June. And then it'll take on a life or so and all of our shareholders, three months, guys, three months, we'll have shares in that estimate, three months for halo tech. Right. And another question. That book value, by the way, it's five cents a share at book at book value. Perfect. So this is from Pat. What's going on with bar X? Will there be a crop this year? Okay. This is a, this is a really, this is a really tricky thing because there's a, you guys, I don't know if you guys know about this, but you can look up cannabis benchmarks and they benchmark states. And California and Oregon have done this, right? Now the question is, is it going to level and go up or is it going to continue to go down? Our view based on just charts is both markets will continue to go down. Right now we can purchase products cheaper than we can manufacture it, meaning that we can cultivate it. So bar X, we don't know right now, but we're in the process of making some moves there to decide what we're going to cultivate. Because the last thing we want to do is cultivate at a cost of a hundred or 200 a pound trim. And after cultivations have to be able to be able only to sell for 250 to 300. It's really tricky right now on the market. Even in Oregon, we were looking the average price, including indoors, come down to 500. This in California and Oregon, right now, people is really survival of the fittest. We have the lines and we're shrinking the Oregon business to be more profitable while we're growing the California business to make up the revenue. Now California is also in the dumps, but we're growing from a smaller base. In Oregon, we're a big wheel in a small house. In California, we're still a small wheel in a big house. So that is our operational focus. Okay. Question from Sunny. How is the triangle raise We have not even started it in this market. The reg a plus market is dead. Okay. Sunny, there are other moves we have to make a triangle before we do a reg a or do some sort of, you know, there is plant touching us do some sort of OTC to X or to be or go with an underwriter like about said, you know, but first we have to make some structural changes there. Okay. And what is the long-term plan with sway from John? Okay. The long-term plan with sway is to use it as a mainstream distribution platform in the United States. As you are all aware, cannabis can only be sold in licensed stores. It is a licensed business. Like liquor, like pharmaceuticals, it's a licensed business. Okay. And, and, but CBD, cannabis peripherals, green lane, Cush Greenland is the biggest. Functional mushrooms, those can all be sold mainstream. Sway has a distribution power for that main stream. And that's why we pay for guarantees from that. Okay. Yep. Now my issue is bandwidth and who's going to run it. So to attract someone good, right now we have to maybe put some other assets in there, which I hope to do using an LBO mechanism. Right. I haven't done it, but where we use the assets themselves to finance the bought purchase of them. Next question is what is the status of the indoor grow at Ucaia? Okay. Totally on ice right now. And the, again, it has to do with the compression in the market and the return on capital, given the fact that prices have come like this and we can purchase better than we, then we can cultivate at this point. So there's a question from Tony. Stock price prediction. Obviously, I can't, I can't even do that. Yeah. And guys, you know, the market for cannabis has been really, really volatile, extremely choppy. So it's just a tough time for anyone to make any predictions. The biggest cannabis companies in the world have struggled in this market. Yeah. But what I'll tell people is even if we have more dilution, which we have to have to get capital to do what we're going to do, you're still looking at $2 Canadian per share minimum in a condo that's locked up that we can't do anything with. Right. So, so, but, so they're all going to get shares in a condo. By default, we can't do anything with it. At that point we'll decide. Nine months in cannabis is three years in any other business. So guys, when you want to ask that question, ask it in six months. Okay. Right. This is from LPH. How are the Kushbar stores doing and are there further plans in Canada? And what's the point of only having three stores? It's a really good question. So first of all, the three stores are actually cash flowing, meaning we don't have to inject money into that. Great. They're making money. Okay. There are three stores in smaller towns or let's call it off, not prime locations in Calvary and Alberta. Now, Bo and Ryan, of course, want to build that out. They're like, this is going to take candy from a baby. You know, we've come out of Washington, we sold, we made $100 million selling our have a heart stores or whatever, you guys can look it up to harvest. So they want to go into Canada hard, but their companies now they're approaching us to buy the stores. So we have to make a decision and we have to make a bunch of why? Because that's when our contract is up with high size is running. Fantastic. Fantastic. Next question here. One second. So many questions. So what's the point of having three stores? Not a lot. Either build or sell. What's your current top three priorities with a candle now spun off? My first priority is getting the dispensaries up in California. My second, my second priority is to stop bleeding and work it. There's a bloodbath right now. So down size of business, we've got 100 pounds in a month of overheads, downsize the business to the market and make it profitable. Forget about market share, forget about revenue growth, makes that business profitable, right? Because inevitably, as the MSOs has to come west to grow, or they have to go to Europe to grow, right? That is when we get approach, you know? And that is right size of Oregon, get the California dispensaries up. And the third thing, which is very important, is continue the halo incubator process. Because that's what seems to be creating the most value, right? Someone asked me, they said, are you willing to sell your Oregon business? Are you willing to sell your California business? We're willing to sell any business if it makes money for the shareholders. Great, right. That's what shareholders want to hear. How is the hunt going for more dispensaries in SoCal? It's choppy, to be honest. It's been choppy. We're dancing with many dispensaries. That's Katie's area. Katie and Ryan are handling all of that. A couple have been brought to the board and we want to use an LBO structure. So where people want shares, or we have to sell shares to raise cash for equity, we want to use the assets themselves to finance. So it's a question of what is it? 80, 20, 25, 75, 50, 50. We want to use the assets themselves. Okay. Were you able to sell all the built up inventory even at discounted prices? Where? Where LPH? Where? Or someone just had to share prices a joke. I couldn't agree more about it. Why are we working with bull investor? Look at the German volume. So I mean, you want some honest answer. I'll give you some honest answers. Oh, LPH was asking about Oregon. Okay. Oregon, we do have built up inventory in Portland. We probably have over a thousand pounds of flower ready for sale. Okay. But we've been smart. We've taken a lot of it on consignment. And this last year, we overgrew. Right. But it's going to keep us going through this year. The question now that we're approaching is what do we grow this year? Right. And that, that is a tricky thing because you have to have a view. From John, what are your top three must wins for 2022? Six months out and year end. Okay. My must win six months out is to get the halo tech assets returned to the shareholders, look at doing with sway CBD and functional mushrooms, look at doing something more like an economy, but set it up if we can to return capital. Right. If we can, but the last thing an underwriter wants is a thousand plus shareholders having shared crammed the stock price. Yeah. Right. But those are two things. The third thing is get up to this, get the dispensaries up in California, get profitable in California and you know, maintain profitability in Oregon. I love your guys questions. Keep bringing them. So there's a, there's a lot of shareholders that are asking about the fact that, you know, the stock is down, there's been a reverse and it's come down again. Do you have anything you want to say to those shareholders that have been dealing with some pain holding the stock? Okay. Okay. Stock prices go up and they come down and people have to take a view. Everyone has their own view. I can tell you a couple of stories on a couple of companies. I ran and owned a big piece of a company called everyone does it. Okay. I was a CEO of that company while I was doing Halo in the beginning. That company, Phillip and I sold to Namaste when it was 20 cents. Yep. Everyone thought we were complete morons, including our shareholders. Whatever happened, happened. Every dog has a sale. The stock shot out for five. I remember the stock is at five with volume and we have search worth hundreds of millions of dollars and we couldn't find anyone to medial in a sample because it was so big, right? So every dog has its day and just look at my sending profile and I take all my comp and shares, right? You look at my sending profile, right? Yeah. I'm one with you guys. With all the management being paid in shares, do you feel that this is sustainable? No, I don't. But my management loves shares because they have the view that the share price is deflated, right? And they want shares. Because they feel like it's undervalued and they want the upside in the stock. Yeah. And it's all of senior management and all directors, right? All of them. Because the problem is, if I start excluding people, they're going to start leaving. I understand. And we have talent. I mean, we have really good people. Yeah, no. Sky Phoenix, CMO, founder of C21. At the end of the day, let's be honest, there is no cannabis company that's up in the last 12 months. Oh, of course. No. No. It doesn't matter if it's Scott's Miocco Grow, IIPR, Tilray, Chronos Group, they're all down. Cannabis Growth Corp, they're all down. Grow Generation Corp, they're all down. So whether you're a penny stock or your cannabis stock that's been at $100, $200, they're all down. Yeah. The whole sector is down. It's a sector-wide issue. It's not an individual company issue. It's a sector problem. And it's not just the cannabis sector. The psychedelic sector is having the same problem. I know you guys are getting involved with psychedelics. The psychedelics is just falling apart too. So cannabis is having its problems. Psychedelics are having their problems. And typically when you're in new sectors, and I've been around long enough to see this, you're going to have this huge explosion because it's a new sector, anticipation, hype, excitement. And then once it starts to kind of become no longer new and exciting, it's going to be a consolidation. And then what happens is the big boys end up accumulating the smaller companies and the smaller companies that can't afford to sustain themselves, they go out of business. This is what I've seen over and over again. And it seems to be the trend in the markets. And it doesn't really change. Now, one thing that I've noticed with Halo Collective, through all of it, just continuously growing, continuously putting out news. You just listed a company on the NASDAQ. So they're not stopping their business. They haven't stopped anything. And here's the CEO right here in front of us. So Kieran is as transparent as it gets when it comes to CEOs. I do these interviews with Kieran quite often. I don't do these types of interviews that often with CEOs because most CEOs don't want to necessarily sit in front of investors or asking 100 questions. It isn't that easy to get a CEO to do this. So I want you guys to recognize this. Kieran has taken the time, flown into Vancouver, and we're sitting down to answer your guys' questions. He's going to answer your questions. If you have a question, put it in the chat. We've got 49 people now on YouTube and on Restream. We've got 38 on LiveMe. And the number in the room is growing. So as you guys come into the room, if you have a question for Halo Collective or Akanda or Halo Tech, please put it in the chat. We'll do our best to answer your guys' questions. Another question from Dominic. At its current valuation, Halo is a takeover candidate. That's what we talked about. Can you secure a hostile takeover? Is that something that you're thinking about? Would that even be something in the context? So this is the issue. So many years ago, 2001, 2002, the markets were down. And I was a principal in a company called Nano Universe. And Nano Universe was trading at a 25% discount to NAB. A hostile takeover was launched by a group called Laxie Partners. It came in hostile, stock traded up. We said, fine, we will distribute everything, take it over. Because it was the right thing to do. And we were shareholders. It made sense. So the hostile guy comes in and says, look, your economy's here for two bucks. This is this. Here's the plan. The stock should rise. Yeah. And if the stock rises, that's a win for the shareholders. I am really good with it. I would be, I would love, I would love to be in that position. Well, yeah, because you're the biggest shareholder. I'm one of the largest shareholders. So that's the thing I wanted to understand is that if you're a shareholder and you're feeling like you're down on the stock, well, just know that Kieran is also a shareholder. And he hasn't sold a single share. Is that correct? Correct. Not a single share. So he believes in the company. He believes in a long term. He's accumulating his position and has not sold a single share. This is a question from Dushan. What is the plan with Halo Tech? Okay. So Halo Tech is being spun out with enough capital to get those assets launched. At the same time, Halo Tech is in discussion with multiple merger candidates to see what other businesses they want to consolidate in. And one person is, two or three people are going to Halo Tech immediately, which will be on the prospectus off of our books. Like, again, remember when Akanya came off of our books, like, I don't know how many millions of overheads came off of our books. We just, I mean, Akanya, what was it, 6.9 or 6.8 million dollars we put into that? We converted into shares, right? Wow. You know, I think 6.5 and they also another 5.50 for stuff we've been carrying from them. But yeah, it is, you know, Halo Tech starts out at 4 or 5 cents a share. It's going to be, again, all the shares are going to be with you guys and, you know, us guys. And so it's just a question of, you know, what we do with that, right? How the person grows it. Again, you got to bet on the horse. So let's see who the horse is. And you guys are willing to bet on the horse. You know, that's what these small cap businesses are about. Yeah. It would be, you know, I think it's going to do well. So LPH says we were supposed to be near cash flow EBITDA positive. Where do we stand? Oh, are we on point? I would say we got to get the dispensaries up. It has been no one saw this crash coming. So my first goal is to get the business units cash flow positive. And my second goal is to cover corporate overheads and shrink them. Right? Yeah. So that's what we've been working on. And I can't give you a forecast of that EBITDA, but I need to get California and Oregon positive. I need to get the other assets that have value that we haven't had time to tend to or need its own management off the books. And then I think we'll have that discussion probably by June. Great. I really like Sonny's questions. Sonny's putting real thought into his questions. He asks, Kieran, if you're able to look at your team in the lens of a sports college, it's so fun. What are they lacking? And what do you need to improve if there's anyone you are scouting or wanting in your team? Okay. Are you looking to add pieces? Okay. So this is a great question sign. And I say to my people, I talk in three languages and I talk in the sports team language. And I say to them, right now, I feel that in California, we're the Baltimore Orioles. We're small. We're like, you know, whatever, at the bottom of the rung. Now we got to bring in the team players to go to the top of the rung. And I think we're good with Bo and Ryan, with Josh from Moxie. We brought legal in now, right, with Cameron. I think we're good there. In Oregon, I think we're more like an older team that needs refresh. So we're more there, like the Dodgers, where we have a great team, but Atlanta beat us in the World Series. We're a lot now, like I'm saying the Premier League, like we're more like Manchester United, not as bad, but we're there. We got to start trading up there, especially in sales. And I'm saying give people signing bonuses. Let's build up the sales team while everyone else is struggling more than us, right? And doesn't have our capital base. Let's really build up that team. And guys, I've been involved in some cannabis deals that have gone really bad. Like I was involved in Zenibus. That went down really bad, like from like $2 to like four cents, then they got acquired by Hexo. Now Hexo has been a dumpster fire. That stocks at 60 cents. So I'm down like huge on an investment. So I want to be honest with you guys, this entire sector is doing this. So it's not just a halo issue. It's an entire cannabis across the board issue. In fact, there isn't one Canadian cannabis company that has been successful, not one, not even one. They're all underwater. No, I agree. So you guys can look at is MSOS. That's the entire U.S. sector. Now what you have to do is understand that the big boys are less vocal than the small boys. And so us small boys, all I have to say is that we started in 2017 with the exception of C21. I don't know any of our peer groups that surround today. That's right. Now I'm challenging you, the audience, to tell me because they are a peer group. They're all gone. They're all gone. You know, they're all shells. The market, the market's a funny place, guys. It's like whatever's hot, everybody wants to get it. And then as soon as that sector loses steam, they're into the next hot sector. Right. This is a guy who's a real operator. Like he's here. He hasn't gone into electric vehicles. He's not pivoting into the next into the next. This is what I mean. And I got people coming to happen for all of it. Of course. And when you're in a public company, people are just pivoting to whatever's the next hot sector, the next hot sector. So a lot of cannabis companies that had huge excitement and hype are gone. They're gone. So this is a company that's still here. It's a company that's still here. They're growing. They're expanding. They are like you heard Kyran, they're in Canada. They're in the United States. They're in the UK. They're in Africa. Right. And they're producing real products and they have real sales and they're going to continue to figure out their way until this industry gets hot again. And I believe it will. And people forget when the industry is hot, it gets really hot. But when it's not, it's like any industry just loses steam and people move into something else. So in 2020, we had revenues of, I don't know, around 20 million. In 2021, through the first nine months, I think we had revenues of 26, 27. Yeah. So your revenues are growing. You're moving in the right direction. So this is what I think investors need to focus on. And I have a question here from Volvo. What is Halo Tech anyways? No idea what it is supposed to be. So it is non-280e assets, software, technology, you know, like for instance, I'll give you an example of technology we're looking at is filling residents with POCs. No one has developed a clean technology to do that without heating the POCs, filtration systems. So it's a bunch of technology that can be sold to multiple cannabis companies worldwide. Okay. And I have a question from Dominic. Are the listed subsidiaries held from long-term or are they to be sold to generate cash? Okay. They cannot, those shares cannot be loaned. They cannot be in any way hypothecated and they cannot be sold for cash. Right? The way I look at it right now, if you guys know, you've ever looked at the story of Alibaba and Yahoo, right? In many ways I feel like Yahoo. It's almost like Ronnie Dangerfield. I feel like the Yahoo where my stock is going to be wedded to a condo until I get the other one done and then my stock, our stock will be very much an amalgamation of our spin-out as well as our two-port market. Right? Yep. All right, guys. So we've got about 15 more minutes left. If there's any more questions, please put it in the chat. I see a lot of questions about Halo tech. I see a lot of questions about a condo. I see a lot of questions about Halo collective. If you have any questions at all, please put it in the chat and we'll do our best to answer your questions. And I know that we are streaming on multiple devices, multiple platforms. If you have a question on live me, please put it in the chat. I'll do my best to answer your question here. And do you want to just tell everyone the symbols in all the different markets? Sure, sure. So in Canada, it's H-A-L-O. In the U.S., it's H-CAN, F is in Frank. And I don't know because the symbol in Germany is like AK9 something. I don't know. And the condo is easy. It's A-K-A-N on NASDAQ. So how does it feel to have a NASDAQ listed company? It's so awesome. I feel like we've accomplished something. Where people, you know, I was so frustrated because my mouth and my hands were tied. And a condo, everyone was scheduled to go out, but literally the war started. And then a condo has to be postponed, right? And I couldn't tell people that, look, it's postponed, but it's going to go out, you know? Because again, that is testing the waters and it would have blown the Akanda listing with the SEC, right? I couldn't tell people that, right? So one thing that I want everyone to know is that if you're a shareholder in Halo, Halo owns 44% of Akanda, which is on the NASDAQ. So to think about it just in very simple terms, your public company, you now own 44% of a NASDAQ listed company. And as that NASDAQ listed company continues to grow and hopefully continues to grow its market cap, then your position in that company also grows its value, which becomes a huge store of value for Halo Collective, for its shareholders, for the Halo Collective balance sheet. So this is all going to be very, very good and extremely positive for Halo. This is one of the biggest things that's probably ever happened in Halo's history. Oh yeah, it is. To me it's the biggest thing. I mean, plant touching, the first plant touching reddish, in my mind, German or African company go public on NASDAQ. And it's all three markets. The other thing that people keep saying is, oh, you're going to use the Akanda shares to find Halo. No, we have a 15 million dollar line. We have 15 million dollar line. Yes, it creates some dilution. But why would we ever sell our first born? Right? Yeah, no, you don't need to. You've got, like I just said, you've got 15 and 50 million. You've got $65 million available. Yeah, they don't need to sell those. We got more money available than our market cap. That's a good thing. So the company's not going to be going delinquent. No. Jeff has a question. Sorry if you mentioned already. What is the delay in procuring a country permit for Triangle Canna? And is that project still viable considering the compression of wholesale prices in California? That's a very, very good question. It's something I can't answer at this point, but I hopefully will have clarity for you within eight weeks. Okay. But this year, given where prices are at, right, there is no intention on our part to grow in California. And we're cutting back our grows in Oregon because to finance those grows will eventually take equity and they aren't accretive. To take equity to build out dispensaries is accretive. Okay. And this is EY. How will shareholders profit from simply sweet, gummy, limited, or what is the plan behind this deal? That's a good question too. Again, that is an asset that we have to capitalize. So the question is with technology, do we put it in this CBD bundle with a cross license, I believe, to ourselves for THC? But that market is a hot, hot market. So thinking out loud, I would see it going into a CBD bundle with the functional mushrooms. Okay. Very good. I like psychedelics, but that's another sector that's just been a dumpster fire. So it's not just cannabis, guys. The whole market has been tough. Let's just be honest. And it's been tougher on us small guys. It's been tough on the big guys. I mean, we just saw Shopify go from $2,200 to $600 in Canada. Wow. They're talking about the number one company. Yeah, number one shopping company. Yeah. And they just went from $2,200 to $600. So if the number one company in Canada can come down, anything can come down. Yeah, but, but, all right guys, I'll tell another story. In 2007, we had the biggest meltdown in the scene until recently, right? Yes. Right. In 2008, I panicked and sold everything because I was down 80%. Had I known what I know today. Just waited. And just waited. You would have made a killing. So, you know, we got a, you know, the whole, the simple adage of stocks is buy low, sell hot. That's right. Be patient and wait. Right. Just give it time. Give the company time to develop a mature. There's averaging down. There's averaging up. You guys know it. I can give you guys a list of companies that are down like 80, 90%. It's a long list. And I'm not even talking penny stocks, big board stocks. So it's long list of it. So, sorry, question here. How is a Canada different than Flora in that Flora share price is now trading under two? I don't want to talk about Flora, but I'll talk about the Canada. Okay. Acona has the former head of Canopy Europe, the former head of Kairon Europe and Louisa Mojawa, who is an icon in South Africa and royalty in and of herself. It has one of the strongest board you've seen. You can compare it head to head with Flora. Right. But Acona, I have, I really believe is a great company. Okay. Okay. And Sonny's asking if you're hiring. Right now, no, we're cutting. They're cutting costs, guys. They got a generate profit for the shareholders. Shareholders want to see profits. I have a question here from Phil. I think I know you, Phil. I think this is my Phil. Why are you paying yourself so much when the company isn't making profits, that money should be going back into the company you can't get by on 150,000 a year, down 90% of my shares. Okay. Who is going to stay? Right? Who is going to stay? You got companies like Fizzy raising 400 million. We got a team, Goldman Sachs, Bain, Brookings. I'm a Wharton MBA, Katie's a Columbia MBA. You know, you got, you got Bo who built Havahart. You got to pay people. Guys, you got to invest in people, right? You know, I gave Taysum a million dollar plus contract and everyone was bitching at me and now look at it. You got either you believe in us or you don't. If you don't believe, sell. If you believe, do what you want to do. Right? And that's the best advice. Because guys, I'm in Hexo and I'm down like 93% and I'm down like $60,000. So this isn't just the halo. This is a cannabis issue. This is a small cap issue. It's a, it's a new sector issue psychedelics. Same thing. We're seeing the same thing with psychedelics. Even mind medicine that went to five bucks is right around a dollar today and it's considered the number one psychedelics company in Canada and it's down 80% from its high. So we're seeing this across the board. So I want to make sure that we're clear about this. This is a sector-wide issue. Now, going to that sector question, this is from Volvo. When will the turnaround come in the cannabis sector? Would the Safe Banking Act help halo? Only God knows. Right? We're all hoping for that. But you have to take a view, right? If you're down 90%, right? That's a lot. Okay? And you have to look at historical charts on small cap risky businesses, right? Remember the internet exploded, right? That was the explosion was 2001, 2002. When Nano Universe, which was an internet incubator, run by myself, I remember David Ho and Alan Buggy. We got constantly taken over because everyone was trading under books. We were trading under cash on balance sheet, right? So cash on balance sheet, we were trading under, right? Which tells you how depressed the market is. And the view is that if we invested in the internet in 2002, we would have lost our assets. Lo and behold, if you made the right pitch, you'd be out thousands of dollars. Amazon, Google, Facebook, all on the internet, Shopify, all on the internet, all have been huge successes. And we've seen this happen in the tech sector until just recently, and now they've all come back down, right? Especially companies like Shopify that have taken a huge hit. And like I said, one of the biggest success stories in Canada has been Shopify. And if you're an institution and you're in at 1,000, 1,500, 2,000, you're down heavily because Shopify right now is struggling to get back to 1,000. I think it's between $600 or $700 in Canada now. And it's one of the top Canadian companies. Now, we only got five minutes left. Okay. So I want to give people perspective on it. A kind of is current market cap, right? Is one of the larger, if not the largest publicly traded, let's call it European, let's call it Eastern facing company, right? European, British for sure, right? Now you have Columbia care in there. You have Kira in there with E-Map. And Kage is highly confident that he is going to do really well. He's confident, right? He believes that. I believe in him, right? I don't know what he has up his sleeve, right? Because we keep a pretty good Chinese wall. But I am confident in him. We bet on that course. We bet large. And that's directly from Bruce Linton. Bruce Linton, who is like the, I guess we call him the king of cannabis in Canada. He was the original founder of Canobie Growth, which was the largest producer of cannabis or at least the largest LP in Canada, the first and largest LP in Canada before he was removed. And that was kind of like the beginning of the end for cannabis. Because that was when it was at its peak, when Bruce Linton was the guy, right? And he got fired from Canobie Growth and kind of nothing's really recovered since then. So we have a lot of questions now about a reverse split. There is no intention of splitting the stock again. Yeah, because that's what investors, obviously- that would, there's no intention, there's no discussion of it. And it's way too soon to even talk about it. And our ability to split it, I think expires in a month and we're not asking the shareholders for any- Yeah, and if you're under 100 million shares, why would you even need to do a split? No, no. I mean, the only time you need to do a split, guys, is when your shares get so big and there's so much dilution that it's impossible for the stock to go up because there was so much dilution. And initially when Aila did their split with 1.1 billion shares, right? So it needed to split. I think now sitting at like 70 million or less, that's not even really a discussion. So we are under accounting standards. If you took our balance sheet today, right? Yes. You would- we are probably if, you know, if I was to take a pro- I just take a pro-former for nine months, add in a conga, add in something for halosap, assume that the balance sheet hasn't deteriorated. Wipe out all these tangibles in good will. I bet you you're at $2 in book value. Yeah. And right now the stock's at 60 cents. So the fossil concept is reality, right? It is a reality. I have a question here from Phil. It's a good one. What percentage of CNC genetic strains are in a conga? CNC. I don't know. I don't know. Yeah, I don't know either. Maybe you would know. Sorry, Phil. We're not understanding that question. This is LPH, one of our last questions. We only got a couple minutes left. What is the status with GEZ and flower shops? Seems to be little news on this. Correct. So I think you'll be seeing some news on that, hopefully. I don't know. You know, I know there's been a hard market, been a hard market for them too. There've been some missteps there, to be honest. One misstep was they have this beautiful jar called the flower vase. And the first jar, as they got out of, you know, some material news, right? It's significant. The captains did not write. So they had the most incredible high-end weed and dried out, right? So there's these sort of start-up, but they're getting their act together. I have dinner with them in LA next Saturday. Okay, great. And, you know, I'm going to speak, Sky runs all our marketing. And you guys look up SkyPenic, his background, you know, founder of C21, Cabe Over, because he saw him, you know, probably, I don't know why you can ask him. But the point is, is that, you know, he has to decide the branding. And I see Flower Shop personally fitting in that what I call soccer bomb, can of curious is what Sky calls it, area, right? And G, you know, he's very supportive and he's supportive, right? So I just want to reaffirm that, then I want to look at that and see what we do there. Okay, perfect. Well, we're pretty much out of time. Is there anything else you want to say to the audience before we say goodbye today? No, I mean, I think everyone's asked, I think everyone's been spot on with their questions. Great questions guys. And I know we all are angry at where the stock is at. There was one investor who came to me, I won't mention, he's been a long-term investor and he's averaged down, right? Yeah. He's only I averaged down and when the stock was dirty, he really went in. I could tell hard. And then the stock shot up to 80 and he was like, wow, right? Yeah, of course. I mean, it was nice to see the move. It was good. I don't know where we ended up today. But listen, we're not going to, we're not sitting around, you know, resting on our laurels of a comma. We're out there. We're going to actively try to do stuff, right? And I'm not making any predictions about the future. But, you know, I'm feeling very good right now. And I'll tell you, in December, in January, I didn't feel very good. Okay. Well, that's, I mean, that's as honest as it gets right there, guys. Yeah. Hope you guys have had an opportunity to learn directly from the CEO of Halo Collective. This is your host, Rich from RichTV Live. Thank you for joining us today, Kiran. Hey, thanks for having me. Thank you for saying this again. And we'd love to have you back anytime you have any big breaking news or anything you want to discuss anytime you're in Vancouver. Let's do this. I love this format. Because we're getting a lot of people saying, Hey, we got to do this more often. We got to do this more often. You know, so, you know, even if you're not in Vancouver, we can do this more, right? So, I think that how many shares with your insiders on the AIF annual information statement, because we're a senior exchange listed company, like Columbia care, right, will be filed has to be filed with the financials. You'll have all of that, Tom, everything you guys will have at your fingertips. I just think that this company's really turned the corner. I'm going to give you guys my own opinion on this is that, you know, you go from being a small company to a company that's now expanded into internationally into Africa, Canada, the UK, and is spreading across the United States in some of the largest markets like California, which is one of the same size as Canada. So these guys are competing in some of the most competitive markets. Now, they've also been able to say, Hey, we've just spun out a company that's on the NASDAQ. That company is on our balance sheet. I think that is a huge feather in your on the balance sheet. That's a huge feather in your cab. And then and on top of that, there's another asset in Halo tech coming that is going to be issuing shares to you, the shareholders, and that's coming next. So that's a lot of really good positive catalysts coming for the company coming for the stock. So as investors, I think there's a lot of good things to look forward to. Thank you for your time today, Karen. And thank you guys for watching. If you like the video, please smash the like button, comment down below, share the video everywhere and subscribe. If you're not winning, you're probably not watching. We bring you winners, we bring you the news, we bring you CO interviews, and we break down stocks, chart analysis, and we bring it to you first. Thank you for watching everybody. Hope everybody has a great day. This is Rich from Rich To Be Live saying, Have a nice day, everybody. And Karen, do you have anything to say to everyone before we say goodbye? No, I'm just, you know, we're working hard. We're working tirelessly. And, you know, we're, you know, I would like people to start thinking at these levels of the word accretion. I, you know, you just do the math at nine months on book value, and we're trading in a substantial discount for book value. And, you know, that is a unique situation in the stock market. And I'm sure we're not the only ones. Yeah. And I also must remind you guys that Rich To Be Live is strictly for information, education, and entertainment purposes. Please do your due diligence, do your research before you invest in anything we talk about or discuss here on Rich To Be Live. Investing is inherently risky. So please just realize that when we do these videos, they're not a video for you to say, Hey, go buy the stock. It's a video to educate you, give you enlightening, educate you, entertain you, inform you on what's going on and the happenings in the company. And from there, go consult a financial advisor, let them tell you what you shouldn't, shouldn't buy. We're not licensed advisors. We're investors just like you guys. Rich TV Live has been built by investors, for investors, and I know Kieran's an investor himself, and he's one of the largest, not the largest shareholder in Halo Collective, and he hasn't sold a single share. Okay. Hope you guys have a great day. This is Rich from Rich To Be Live with Kieran Sudu, the CEO from Halo Collective saying, Have a nice day, everybody. We'll see you guys soon.