 Hi, how's everybody doing today? This is Rich here on behalf of RichDB Live with our very special guest. It is George Ensti from Theramed Health Corp. How you doing today, George? Doing all right this morning, man. Doing well. How's things on your end? Very, very good. And I'm excited about learning more about your company. So why don't we get right into it? I've got a few questions for you. First question is, the American economy, especially on the state level, has really enjoyed job growth from cannabis legalization in other countries have as well. Now the medicinal testimonies are amazing. Is there anyone who still doubts legalization and legalizing was a wrong move and how successful and important has legalization been in your opinion? Sure, sure. So those are, there's a couple of questions wrapped up in there. So let's just start with where we're at with cannabis. If you look at the sales numbers for 2019 in the USA, I believe we're looking at about $13 billion of sales for last year and the numbers for 2020 are likely gonna be off the charts, especially considering the lockdown considerations. Seems like a lot of folks have been turning to herbal remedies as of late. But my point is whenever you're measuring sales and value in job creation in the tens of billions of dollars, I think it's safe to call it successful. A little bit about myself just so your viewers know, I came up in the new legal market for cannabis in Canada. I was part of one of the first commercial license holders in Canada, that company was called Broken Coast Cannabis. They started way back in 2014, 2015 and it was really a rags riches story and I was there for most of the formative periods of the company. So I saw it go from being almost at the very, very beginning where there was really not much there to it's eventual buyout two or three years ago for a quarter billion dollars. So seeing that transition from, I don't wanna say nothing but from very modest to a quarter billion dollars, that definitely has the earmarks of success, I would say. So I guess to summarize your question there, yes, we are looking at the success and the continued evolution of the cannabis market. And like I said, whenever you're measuring a value creation in the tens of billions of dollars, you kinda have to call it out of success. So yeah, I'd call it successful so far. Yeah, I agree. Another group of substances that Richard Nixon politically made illegal for no scientific reason are the psychedelics. And I know that that's the industry that you're now in which the Fed has labeled as a breakthrough status which is huge. What are those, are they legal and do they have a market? Okay, so again, there's a couple of questions there. So let's just start by getting it out in the open that psychedelics are not addictive. It's my opinion that it was a mistake to make these substances illegal in the first place. Having made these substances illegal some decades ago, what we've done is we just simply put these tools outside of the reach of clinicians and doctors and patients for decades. This is starting to turn around and that's a really good thing in my opinion. As of last year, like you mentioned, psilocybin was granted FDA breakthrough status. So that sort of nudges the door open for researchers to start experimenting and conducting clinical trials. And this is just a fantastic step in what I would call the correct direction. So given that psilocybin has its breakthrough status now, I think it's reasonable to expect that we're gonna see those same researchers pushing for trials and clinical applications of other substances, as you mentioned. The ones that come to mind immediately are LSD, MDMA, and ketamine. In fact, ketamine is, I believe it's been given breakthrough status or some provisional approval for a nasal spray in the United States. I don't know if you've heard about that. I was just reading about it quite recently. As for the market, I mean, we could look to the existing market for antidepressants or SSRIs. I mean, that's comparable in terms of the types of things that clinicians might be looking to treat. For furthermore, I don't know if you're familiar with catacord or not, but recently they put out a report estimating the total value of psychedelics at a potential $100 billion annually. So the market potential is substantial. And so that definitely catches my attention, but the market is one thing, but something that gets me truly excited is just the ability to give clinicians and patients another tool. There hasn't been a substantial change to the toolkit that clinicians use for mental health in decades and decades. It's actually been a fairly long time since we've had a genuinely new set of tools available. And I mean, mental health is top of mind for so many people right now, especially with the lockdown. I would say that most families have experienced through friends, loved ones, or even perhaps themselves, experiencing some symptoms of mental health while cooped up in an apartment all day for weeks on end. We're not really supposed to do that. So I think that given the environment that we're in right now, both from a legal standpoint with the FDA granting breakthrough status for psilocybin, as well as society is sort of coming around and being vocal for the first time, maybe ever that there's no reason to taboo mental health, if anything like we should be addressing it head on. And if this is another tool to address it, that's just fantastic. So that's kind of, that's how I'd summarize those questions there so far as the status legally and the market therein. Thank you very much. I think that was a great answer, George. In the 1950s and in the 1960s, Harvard professors and many neuroscientists as well as chemists and therapists got tremendous results treating addictions, depression and anxiety by micro dosing. It all abruptly stopped. Is it fair to say that there aren't many experts on these groups of substances? So the investment opportunity is massive since it's early stage. Yeah. So I mean, you're kind of you're just edging into another reason why the company that I work with, Theramid and the company that I'm CEO of, Fermadelic is really excited to be working in this field. So you did kind of get it there. There are few experts in this field and we're very fortunate to have teamed up with some very talented scientists and research scientists. It's important to understand that this is the beginning of I guess just a new modality of mental health treatment options. So while on one hand the existing literature and research is quite limited as you alluded to, on the other it presents somewhat of a blue ocean scenario for companies like Fermadelic. And so your viewers know, Fermadelic exists essentially as an IP factory. That's the purpose of Fermadelic. We work on intellectual property with regards to psychedelic production methods and that's been our focus to date. So understandably the opportunity gets our scientists very excited to be part of the discovery process because we can more or less just pick a direction and run with it and there's profound discoveries to be made because it is so new. And again, getting back to the investment opportunities. Yes, this is the ground floor. So like I said before, while on one hand, there's not a whole lot of literature out there to reference on the other hand, it's a huge opportunity for our company because we can get out there and we can execute on IP development and we've got very, very, very good opportunities thereafter as well. So we kind of mentioned it earlier referencing cannabis. I would liken it to the very early days of the cannabis sector where there were less than a dozen companies in operation. In this instance, there admit has a good fortune of being included in that handful of companies and in this case, the psychedelic space. So I must agree that the investment opportunity is massive as we alluded to before. So yes. And I believe that that is the case as well. What are the most important recent developments in this industry between 2016 and 2020? That really just has to be its application to mental health. The taboos are lifting around mental health. People are kind of willing to share their story more so without fear being judged. And there's just a lot more empathy for it, I think, generally in our society that no one's immune to it. Everyone gets sick. We need to have compassion for one another. And I would really frame that as the most important development in the psychedelic spaces is just the willingness for clinicians and society to look at it as a potential treatment or perhaps for some people a solution for a very real problem that most of us will face at some point in our life. It's really just a good thing that we're opening the door for these conversations. And I expect, I really do expect more confirmation through the studies as we go, not just in psilocybin necessarily, but I think that there's a lot of potential in other substances that are tryptamine based that could help in simple. So that's how I would frame the most important developments in the industry is its application to mental health. Now, George, how did you get involved personally through EGF TheraMed Health, a publicly traded company that's just getting started? Sure, so I've been working with research scientists for some years since I left Broken Coast, actually. I've been working on psilocybin projects here in Canada. It's been a long road to get to where we are right now. And what we initially were working on has since turned into Pharmadelic, which is the IP factory that I mentioned before. Pharmadelic had an investment or a stake taken by TheraMed. And that's how I ended up getting introduced to TheraMed. And the existing board felt that I'd be a great addition to the team and I was inclined to agree. So now I'm working and consulting with TheraMed as well in partnership with Pharmadelic where I sit as CEO. Congratulations for joining the team. Very good. Doing my best. Why do you own a facility in development in the British Virgin Islands? What's special about that jurisdiction? There's a couple things that are special about that. So one of the biggest challenges that we're facing right now is just simply regulation. Like I'm based in Canada. TheraMed is based in Vancouver. Pharmadelic is actually an American corporation, but in both the United States and in Canada, it's possible to work with psilocybin, but the regulatory hurdles are not to be ignored. In jurisdictions like the British Virgin Islands, it's actually legal to work with psilocybin so long as you're not trying to commercialize it right away. So it just makes the research much, much easier to execute on if we're working in a jurisdiction like the Virgin Islands. And in fact, Jamaica, which is another jurisdiction that we're considering at the moment, they actually never made psilocybin mushrooms illegal to start with. So again, that bodes really well for opportunities down there. So what that will allow us to do is to continue to develop our basket of IP in a jurisdiction that's favorable so that when decriminalization, legalization, exceptions for medical applications comes in full effect in North America, we're in the best possible position to realize the market opportunity. And like I said before, ultimately help people. So that's why we're really interested in those jurisdictions. And I'm positive you're gonna be hearing more about it. That's great. Now, I'm also invested in MindMed, another psychedelics deal. So I'm very familiar with psychedelics. There's a few others. So is the company's market cap lower or higher than its direct peers, which I just mentioned, like MindMed, Numie Wellness, Champagno Brands, which has been on fire, Revive Therapeutics, which has also been doing well. How does your market cap compare to your peers? Sure, so that's actually a pretty good point to bring up. So as you mentioned, some of the companies that you mentioned there are trading in the $100 million, $200 million market cap. We're a fraction of that. I believe we have somewhere in the neighborhood of 16 or 17 million shares out right now. And we're trading somewhere around a $20 million market cap. You'd have to check my math there, but we're in that realm. So we truly are a fraction of what our nearest competitors are doing. And we're really looking to build out a balanced portfolio of opportunities, IP operations, internationally at this point. So we're well set up to execute and realize the potential in this market. And I'm excited for the future. Yeah, that sounds very exciting. I love tight float. So I think you guys are structured very, very well. And this is going to be very exciting for our community. Well, you can thank the rest of the directors there. Yeah, they've done a good job structuring and I think that's very important. Where will this industry and the company be in a year and what is the business model? Sure, so it is multi-pronged. There's a few things going on. So, I mean, where should I start? I think I would literally like to bring focus on pharmacedelic. I mean, it's maybe a little self-serving because I'm the CEO. But the purpose of pharmacedelic is to develop intellectual property around biosynthesis so that with the intention of meshing up with pharmaceutical interests. So ultimately, so far as what's pharmacedelic is concerned, and this is pharmacedelic is where I spend much of my time, we're looking at royalty agreements and we're looking at IP purchase agreements sold or licensed to the established pharmaceutical companies that are out there. So does that make sense from your perspective? Absolutely. Totally. So beyond that, so outside of pharmacedelic, looking at some of our other companies within the Theramed portfolio, we could look at a company like Green Parrot. And Green Parrot is, as you mentioned, in development of labs and eventually treatment centers focused on jurisdictions like BVI and Jamaica. And so this gives us the multi-pronged. So when we're looking at pharmacedelic, it's really focused on IP. We are intending to figure out industrial scale-up, but production itself is not really the point of pharmacedelic. Pharmedelic is all about IP. Once we start looking at Green Parrot and its prongs, we start to talk, we're getting more into the production side of things and pharmaceutical ingredient side of things. So once that lab is finished, it's, we're gonna be looking for a GMP certification so that we can interface with other pharmaceutical interests and adjacent to that is going to be treatment centers down in the Caribbean. And there's a portfolio of treatments that the management team at Green Parrot has been working on through licensing deals. And I believe they're looking to develop some of their own proprietary stuff as well. And again, I'm positive we're gonna hear more about Green Parrot as we go. So yeah, it's, we're really looking to create a balanced portfolio is the best way to put it. And developing our own ecosystem within Theramid. Very good. What are the first states in America which are likely to decriminalize or even legalize? Sure. So I mean, no one has a crystal ball. This is a really, really tough question to crack. But if we're looking at what's happened in the past and if we're willing to take an educated guess, we can start by taking note that cities like Santa Cruz, Oakland and Denver in Colorado have taken the first steps towards decriminalization. And this is gonna contribute to an environment where discussions around decriminalizing or even legalizing at the state level are gonna be possible. So like I said before, I don't have a crystal ball. I don't know. I don't know. We don't know which state is going to be the first to go legal. But if we were taking a guess and if we were drawing parallels from the cannabis industry, I would say that an educated guess would be, we're gonna see California and Colorado be among the first to decriminalize if we get there. In the meantime, like I said before, we're focusing on jurisdictions where the regulations are favorable so that we don't have to wait for regulators to catch up. We can go ahead with our research in other jurisdictions. Very good. California would be crazy. It would be. It would be. And I mean, it does make sense. California has always been leading the charge socially on a lot of items and with having two major cities come out and say, hey, we actually want this as an option for the people that live here, it bodes well for its future, for sure. So George, we've been talking for quite a bit now about your company. I'm very excited about it and our shareholders will be as well. How can a prospective investor reach out to EGF Theramed and ask questions? Yeah, so I mean, I would start with the website. If you go to the website, we've got some information on each of our portfolio companies. And if I'm not mistaken, I believe we have the link in contact information for our IR department. So any general questions can be forwarded to our IR department if the website doesn't cover you and any institutional inquiries can be directed to me either through our IR department or through the Farmadilla website. Well, that sounds great. Thank you so much for your time today, George. This is George, a director from EGF Theramed Health Corp. The symbol in Canada is TMED on the CSE exchange. The symbol in America is EVAHF and the symbol in Frankfurt is A-U-H-P. And you can see their website at TheramedHealthCorp.com. Thank you so much for joining us today and I wish you... Thank you so much for having me. ...in your future endeavors and continue all your great work. Well, definitely looking forward to it, Rich. Thank you, George. All right, take care, man.