 Thank you, Maddie. Good afternoon, everyone. My name is Katie Field. I'm the president of Halo Collective, and I will be moderating the conference today. At this time, I would like to welcome everyone to the Halo Collective Corporate Earnings Call Q2 2021. All lines have been placed on mute to prevent background noise. As Maddie mentioned, after the remarks, there will be a question and answer session, and if you'd like to ask a question during this time, you may submit a question by pressing star 1. In addition to myself, the speakers on today's call will be Kieran Sue, co-founder and CEO of Halo Collective, and Phillip Vandenberg, chief financial officer of Halo Collective. Before we begin, I would like to remind listeners that certain statements made during this conference call may constitute forward-looking information and forward-looking statements within the meaning of applicable security laws. These statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Halo Collective and its subsidiary entities, or the industry in which it operates to be material different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When using this conference call presentation, such statements use words such as may, will, and similar terminology, and include among others statements regarding expected operating results, future growth, anticipated capital expenditures, corporate strategy, and proposed acquisitions. These statements reflect management's current expectations regarding future events and operating performance, and speak only as of the date hereof. Important factors that could cause Halo's actual results and financial conditions to differ materially from those indicated in the forward-looking statements include among others economic and financial conditions, the ongoing impact of COVID-19, strategic actions, including acquisitions and dispositions in Halo's success and integrating acquired businesses. These risk factors are discussed in detail under the heading Risk Factors in Halo's annual information form dated March 31, 2021, and Halo's additional disclosure documents filed on CDAR. New risk factors may arise from time to time, and it's not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance, or achievements to be materially different from those contained in forward-looking statements. With all that, given these risks and uncertainties, investors should not place undue reliance of forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this presentation are based upon what management believes to be reasonable assumptions, Halo cannot assure investors that actual results will be consistent with these forward-looking statements. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise other than as required under securities legislation. With that being said, I will now turn the call over to Philip Sandenburg, our Chief Financial Officer. The group results are 9.2 million, which declined with 8%, and that really reflected a large flower sale in January Q1 of 2021, and stating that the way that actually the growth trend continues. It increased with more than 300%, up to 4.4 million grams, and the price of the mix declined with 57%, and that's really upset at a few times now because of the change in the mix, like pre-rolls, flower trade, this a lot possible. The like-for-like organic revenue growth was 36%, and that is basically because the windberry farms were consolidated. The gross profit was 2.2 million, and adjusted for biological assets was 2.5 million. For the biological assets, the operations, A&M, the main contributors basically in this quarter were A&M, MDP, and windberries, I'll discuss those briefly. A&M, Q2 revenues were down 4%, a few level percent, and that was really because of the flower sale of the mix before it happened within A&M. Volumes were possible, extract volumes plus minus 80% price plus 3%, and we had much higher volumes for the lower price categorization that brought the price overall down, and adjusted for 23.8%. A&M, Q2, that marches, I'd say, an average of 1% increase in the 1,000% up, 19%, 1 to 1.9%, which was minus 88%, and it really tells you that we had a lot of trim sales and flower sales at much lower prices, and that was why the price mix went down at Mendo. Most of the other categories declined, so there was kind of a double whammy because the lower prices increased, the higher price categories declined somewhat, and that also had an impact on the mixed price. The gross profit was 394,000, with a gross margin of 20.7%. Both in sales and margin is supported by the outsourcing to a third party, Greenstone, from higher shelf penetration in California, and also, but this is really for next year, MBT will have an uptake from VARX, in which we have 44% holding a one-stay-start harvest. Greenberry, with 3.6 million to revenues, for 1.2 million grams, 19%, the Q1K, lower price products, flower and trims declined faster, and this supported the price mix in the sales, the aid of premium products, and it's a distributor of that versus A&M, where the marches are somewhat lower, and it's a manufacturing entity. It was 1.55 million, 43.6%. The margin was 36.7%. Total operating increased 93% of non-cash. In all taxes explained by higher all taxes in G&A, the Q2 was 4.9 million, and adjusted for non-cash items, the loss was 4.6 million. It includes some basically share-based compensation or non-cash-based share payments of 3.7 million. To give you an idea, A&M was in minus 314,000 dollars, and next year 1 was minus 1.2 million. Also harvest was minus 510,000 into minus 377,000 into Q1. LBT was minus 443,000 into Q2, and more or less break-even into Q1. WinBerry was plus 222,000, and in Q1 it was 882,000. Corporate, in Q2 it was minus 1,000,000. In Q1 it was minus 2.4 million, and in Q2 2020 it was minus 3.3 million. So corporate is on the declining trend in terms of expenses, and the expenses are becoming more and more under control. I'll look for the remainder of 2021. I know that in our press release we stated that revenues are now expected to be in the region of 65 million, previously 75 million. This has to do with regulatory issues around the opening of the dispensaries in Los Angeles. In terms of the A&M, we still believe that A&M will be positive in Q4. Obviously this is developing. A&M and WinBerry are going steady. High-private closed in July and is having a positive. Those are the three dispensaries that we bought in Canada. HLO Ventures is going to be closed down, and we will get our shares back in exchange for the licenses. So we don't have the expenses anymore, and that's about 12,000 per month that disappears. Then Flower Shield will start to contribute. MBT as I mentioned has a new distro with Greenstone, and MBT we expect to be ever that positive in Q2. It's been all over the place, and it's very difficult to predict. We're actually looking at what to do with Coastal Harvest, should we continue with or not. That's a discussion that we're having internally, but for now Coastal Harvest is what it is and continues. Nature's Best, which we closed in Q1, we actually start operating it once everything is done in Q4. We expected this quarter, Q1 actually, and we expect that also to be built out. It's our beverage and the retail assets. As I mentioned, they are going to produce two of the three in Q4, probably in November-December. We mentioned in the previous call and it's also been announced that we're spinning off HLO Tech. Maybe you could, there's a more elaborate discussion about it in the MTA. Basically, the six tech assets that we have are going to be distributed to our investors, so that disappears. At the moment, there are very few costs, there are very little costs associated with it, so it's not going to bring us a big upside by not having them, but it takes the attention away from something that's really not our core and somebody else can do a much better job with it. They're going to be spun off, allocate distributed to all the investors in HLO and it will be listed on the CRC, that's what they're looking for. We're working on all the documents right now and we expect this to happen in Q4 of 2021. Then the international assets. Basically, we combined Canmark and Buffalo into a new company called Acamba, which is its own company. We are looking at how we can extract more value from that combination that is now going to be our international asset. To give you an idea, Acamba right now is spending about $500,000, just under $500,000 per month. Then Barracks, we continue to develop that business. We have 44% stake in it. We don't think it will do anything before Q1 2022, but once it starts to contribute, it can be a really profitable business and it can be a real cash cow, plus also we would have an uptake, which would support MDT, so the development of Barracks is a positive order for the company. As I mentioned, the guidance for the rest of the year remains that the expected could be about positives with a focus pretty much on North America, in particular cultivation of organ and cultivation of retail in California. To give you a snapshot of how we get there, people are interested. I'll have more detailed course, but the revenues per month in Q2 were $3 million. In Q3, we projected $5 million as new acquisitions actually start to contribute. And then in Q4, we had $8.8 million, and that includes the projection that the retail assets are starting to contribute. And the gross margin rises from 28% to 30%. And OPEX is $2.8 million in Q2, then in Q3 it's going up to $3.3 million. What we have done is we are basically reorganizing some of our businesses. As I mentioned, at the same time in the corporate center, a number of people left, we will have to pay reorganization charges for that. And therefore we expect the operating costs to go up to $3.3 million per month in Q3. And then as certain developments are going to take place in Q4, we expect OPEX to be $2.4 million in Q4. So that's going to be below Q2. And that's what we're aiming at, and that's what we're working towards on. The increase that we include in Q2, certainly Q3, includes redundancy costs of $250,000. So the EBITDA then becomes minus 1.9 in Q2. It is minus 1.9 in Q3. And that is basically we have higher sales, but we also have higher costs because of real restructuring efforts. And then in Q4, once those disappear, and our retail assets start to completely lose, the EBITDA goes to just about $200,000 in the plus for Q4. Cash flow. The cash use and operation was $9.3 million in Q1 and went down to $8.8 million in Q2. Long cash items were $3 million in Q1 and $6.5 million in Q2. The last items here are share-based compensation and effects. Working capital increased with $3.7 million in Q1 and with $3.9 million in Q2. And that really reflects the wind-bury acquisitions. As a result of that, Infantory AR and IP all went up. Cash flow in Q1 was $3.1 million and $2.9 million in Q2. The cash raise from finance was $15.9 million in Q1 from two overnight offerings. And in Q2 it was $4.5 million when we used the ATM. Cash inflow in Q1 was $7.6 million and our flow was $4.8 million in Q2. I'll be very brief about acquisitions, but in Q1 we closed, just to remind you, we closed wind-bury. We also took, we had investments in SDF and ZXC, which are the dispensaries in California, but we can't consolidate them until we close them. And we're waiting for the social equity contribution to happen so that we can actually go forward with it. And then the management companies of those two, E&Q and POI, they actually get closed. In Q2 we closed Nature's Best and we closed Elegance. And in Q3, so far, we have closed Hy-Type and we also signed the definitive with Williams-Wonder and we worked on the integration with them too. All in all, the total of 458 million shares were issued at a fair market value of $40 million. So we spent $40 million on acquisitions, all paid in shares, and the capital raise was $249 million shares to $19.5 million. And that pretty much concludes my presentation. Thank you. Thank you, Phillip. So let me just remind everyone that you can submit a question or get in the question Q by pressing star 1. We do have questions that have been compiled across a couple different social media outlets and questions that we've received. So I hope that these will be helpful while we're waiting for others to queue. They're organized by Subject Matter. We've been getting a lot of questions about the international business and the planned spinoff of the company that was incorporated called Aconda. So Kiran, a lot of these next questions are for you. Are you ready? Yeah, I'm ready. The question is regarding the timeframe for the plan spinoff of Aconda. All we can really say at this point is that we've hired a thousand securities to help us pursue strategic alternatives. If you look at the last four or five deals they've done, they've been very, very successful. There are two other very prominent US investment banks right now doing due diligence. The CASE hopes to announce sooner rather than later. They have strong institutional following and actually have research in the space. As we know NASDAQ just recently is starting to allow direct listings in New York Stock Exchange and Annex of plant touching entities that don't have any US nexus. Also, there are many other strategic alternatives for those assets. But it's really our view that those assets are not having full recognition of value under Halo at this point. And we're going to leave it in the hands of Bowstead and a couple of other banks to see how we go about untapping that value while CASE continues to run that business. Great. So with that being said, what is the management plan for the Berfella 2022 cultivation? So when I was there, we were looking at what's known as a GACP shade clock grow. And the target is 10 acres under canopy and we're looking at two to three cycles. So it will be quite a large grow with 10 acres under canopy. You can see that we're hitting good test results between 20 to 25% THC. CASE now is instituting, they're not called control studies in Europe, but they're called stability studies. And so he's been initiating three to six month stability studies depending on the jurisdiction. He's also being very aggressive in terms of starting to build out distribution or planning to build out distribution both in the UK and in Germany. And I think there will be, you know, I hope that there will be some substantial news flow coming from him over the next 30 to 90 days in regards to his plans and his team's plans to do what they plan to do. So building on that question, what gives management confidence that we'll be able to export from Lesotho? What gives us confidence that we'll be able to export from Lesotho? Well, first of all, we've already made sales to other brokers within Africa, smaller sales that have exported our product abroad. Now what Tage is trying to do is capture that margin by actually either acquiring one of the larger brokers or hiring people from that broker. In regards to that, also Tage is in pretty extensive discussions now with the group in Germany. And he's in extensive discussions with two or three groups in the UK in order to start rolling up assets, you know, within both the UK and Germany. And it's interesting to note that part of the reason that he left Chiron had nothing to do with Chiron's business itself, but it had to do with the fact that its chairman is, you know, Vicente Fox, and Chiron was much more focused on Mexico, which left a lot of opportunity within Europe for someone like us with him. So leveraging his contacts with both Canopy and from Chiron, we see a lot of opportunity within Europe to build a large business end to end. So see what they see to growth in assets. I'm showing his line, I'm still connected. Okay, Karen, you might be on mute. Sorry, sorry, no, I was on mute. I apologize. Okay. I think that you were just talking about the fact that Tage has just a network of international contacts in order to create international information. Yeah, he has a two-year vision and a plan that he's in the process of implementing. And I'd say that I would hope that you would start to see this flow over the next 90 days in regards to that plan. That plan does involve expansion within Lucidio itself by leveraging or acquiring key brokers there, looking at building out sales in Germany like he did with Chiron, and looking at building out sales in the UK, which has always been a, let's say, a market that's been behind Germany. But I think he has a good vision and a good plan there as well. So I think what you'll see is over the next, let's say, to be conservative, 90 days, that plan of his starting to crystallize. And so far he's been pretty much on track. Just a couple more before we pivot to a new topic. So the next question was, can you drill down a bit more on distribution, the distribution strategy, and the pricing for the fellow, meaning, you know, so what we've talked about is the fellow is in this low-cost center of production, but how does that correlate or translate into the margin? No, that's a fair question. So right now with GACP, what that enables us to do is export cannabis as biomass. So in certain jurisdictions, like Australia and others, we can export the biomass as inhalable flower. But currently in Europe, right now, the way things fit, we have to export it as biomass. That biomass would be made into oil for extraction. The margins there are still substantially high, or at least a growth margin of 50%. Inevitably, we've hired a gentleman by the name of Tony Lacombe, who was responsible for building out canopies operations in Denmark. And so the strategy there is to do GACP grow, like canopies did in Denmark, but then leave that GACP grow into GFP drying. And for those of you that have looked at the fellow satellite pictures, you'll see very large barns at the fellow. And the plan right now is over the next year, and it'll take at least a year to build that barn into a CGM facility, which would enable us to then take the GACP flower and visually put the box through a chute into a GMP facility, drying here in that facility, process it in that facility, and then export it as inhalable flower into Europe. But that is realistically at least a one-year plan. So over the next year, it is really going to be a GACP route while that gets implemented. Okay, great. And then do you have any estimate or what is management's estimate on the comparative cost of production program into fellow versus other jurisdictions like Canada, for example? Well, we don't... A lot of other jurisdictions, you know, a price of 10 to 20 cents a gram, but that's not comparing apples to apples. So when we put our price out, and the price we typically quote is a 50-cent program price, what we're really quoting is a price at 50 cents per gram that is a landed cost in Europe. Right? So yes, our cost maybe in at the fellow is 25 to 20 cents per gram all in for trimmed up A-bud, B-bud, and biomass is actually in Europe. There's no such thing as A and B-bud. There's only bud and extractable material. But on average, our cost of bud is 25 percent, but landed it's more like 50 percent by the time you get the air into place. Right. Okay, great. So that wraps up the questions on a conda. I just want to again remind everyone that you can enter the queue for Q&A by pressing star one. We also received questions on essentially the operations in California. And the first question was essentially on the delays with the store openings because originally we had anticipated them opening starting this month. So I'm happy to comment on that. The delays are primarily due to the turnaround time with the city's regulating agency, it's known as the DCR. The good news in my view is that we're on the brink of construction at the first site in Westwood on Santa Monica Boulevard. We've received the DCR's blessing and now it's just with the planning to get building permit which we expect any day now. And the construction team has already teed up and started to order things and we're really ready to begin construction any day. And we'll of course keep everyone in the loop on that. We've received positive news in the last week actually on the Hollywood site. We have been waiting for a site change approval from the original site submitted with the application. And this was actually before we acquired it. So once we acquired it we had to change the site and the DCR has now approved that. So that means that we can and we've already submitted for temporary approval with the city as well as the state license. So that's basically just administrative that we've done that for Westwood as well. And so now we're really ready to just go full force into the design and planning and the plans for that site. And the idea is that this would commence construction right after the Westwood site, which is expected to really begin any day. The only delay that I think that we expect to still encounter is that on the North Hollywood site we are still waiting for the approval on the site change there. We don't have a lot more to comment on it other than, you know, we have these two sites in the pipeline already that are going to be built out, you know, and then designed and built out. And so, you know, hopefully and earlier, but by the end of the year, we're going to be in a position to do the, you know, commend construction and complete construction on North Hollywood as well. And as we get updates, we will of course keep everyone in the loop. And thanks for, you know, thanks for being engaged on this topic. It's a very, very high priority for us. All right. The next question is regarding the build-out of UVI, which is one of the facilities we acquired in Ukiah, California, and have been planning a cultivation, indoor cultivation. Briefly, we have solidified the disaster build-out and a pain local approval. We're currently researching financing options for the actual construction. This is to alleviate some of the need for cash to fund it. And we're just looking at what that mix looks like, but we've been working with some really qualified designers, consultants, and contractors, so we have a good team in place. It's really just about, you know, deciding how we want to financing it, which options are most attractive. So, Kieran, I don't know if you have anything else to add to that. No, that's perfectly correct. I mean, we're just, we're, A, now, looking for financing, B, the plans are finalized, and C, the permits are, we're getting the permits. But again, it's going to be a six-month two-year process on that one. Okay, great. All right. So, the next question is regarding inventory. So, I'll ask Salim to jump in here. But essentially, the question is, does the size of inventory indicate a deficiency with sales, or is it a strategic measure plan for dispensaries in California to have product on hand ready for the launch? I think the majority of the increase in inventory really follows from the fact that we have been included to Winbury. That wasn't there last year. And that makes that, that makes that comparison look like as an inventory storm up a lot, but it's completely in line with the revenues of the business. What about in California? We're not building up, yeah. In California, we're not building anything up for the dispensaries yet. But what we are building up is our investment in flower shops, and also the closed high-tides, which is actually in Canada. And there we have to start, we started putting in inventory as well. And actually we acquired inventory with it as well. Those are the major items. There is no excess inventory in California. The next question is regarding the reactivation of coastal harvest and asking why it's still not showing significant contributions to revenue. I can chime in a little bit, but then Phillip, maybe you can add on to it. Essentially coastal harvest is current main MDT and OGC. Those are our two businesses in Ukaia with raw materials for manufacturing finished goods. And so essentially it's essentially a growth engine as well for the white-labeled business at MDT and OGC. So it's not really going to show the type of revenue that you'd expect to see from a subsidiary that is serving dispensaries directly. You're going to see it more in terms of either, you know, inter-company revenues to MDT and OGC, or bulk sales, which has actually been a declining segment for business there. So that's primarily I think why, you know, we see it more as continuing with it as more to support our white-labeled and finished products dispensaries business in Ukaia. But Phillip, do you want to add anything to that? No, that's what you said is perfect. Yep. Okay, great. All right, so the next topic area, there was a question submitted on Oregon, and the question was why A&M was showing a lower growth margin than WinBerry. The point to make here, and then I'll ask Phillip to chime in as well, is that A&M is primarily manufacturing, whereas WinBerry is a distributor. So manufacturing margins are lower. With the products that have shipped to dispensaries from A&M, those tend to be our lower price value line products, the H brand versus the WinBerry brand. So that could be another driver for lower growth margins at A&M and WinBerry. And the last thing to keep in mind is that one of the, one of actually the synergies that we anticipated of WinBerry transaction was to insource production of cartridges, of their cartridges that they had outsourced to a third party manufacturer. So by actually producing these cartridges at A&M, WinBerry experienced an increase in the gross margin of its cartridges. So A&M actually fueled the gross margin for WinBerry. Phillip, do you want to chime in at all regarding A&M versus WinBerry gross margins? I think what you said is absolutely correct. It's the distribution margin on WinBerry is higher, but also the average achieved price on WinBerry is somewhat lower than actually at A&M. So A&M may have somewhat lower margin, but still makes it very good for a profit because it has a much higher value than WinBerry. It's a low price with a high margin and a high price with a somewhat lower margin. Agreed. Agreed. And they both really are, they exist pretty harmoniously together. So, you know, both businesses are important in Oregon. So, all right. So the next question was just sort of overall the strategic focal points that we've been mentioning, both in our, you know, businesses and on the call today, which is, you know, why do we continue to focus on Barracks, UVI and the planned acquisition in Oregon? From my viewpoint, Barracks and UVI are both focal points because they secure a supply chain for flower and for trim to some extent in California and really allow us to offer a broader product, offering of products to dispensaries. And they're important for that reason. And from the Oregon perspective, our acquisitions have been important because consolidation will really fuel a couple of opportunities for us. The first also being supply chain, but also the streamlining of operations in terms of where we're growing, where we're assembling, finishing products, and where we're actually distributing. So to get a better nexus from south to north in terms of the origin of products, the origin of raw materials, and the finishing and distribution of products closer to population centers. So there's actually been, we've really anticipated some improvement with further acquisitions in Oregon. Kieran and Philip, do you wish to comment on the strategic focus for Barracks, UVI, and Oregon and acquisitions in Oregon? No, I think you hit the nail on the head. You just got to look at Halo as a sum of parts. You have to look at, if you take each of its parts, you add it up. It doesn't really equate to the market cap. So if you take Triangle, Barracks, you take UVI, you take Aconda, you risk adjusted, but just in my mind, it just doesn't add up. And so I think that's part of the reason of unlocking everything the way we're doing it. Okay, well, the next area... I'm in a dispensary, actually. I apologize. No problem. Okay, so the next question is regarding the guidance and financials. I think you did a great job during your presentation commenting on this, but maybe we can just dive in a little bit here. The first question was the drop in revenue between Q1 and Q2. That is down by approximately 10%. And so they're just wondering, what is the shortfall from Q1 to Q2 this year? Yeah, that's really to do with the comparison. In Q1 in January of 2021, we had a very large flower sale, and that resulted in that Q1 decline. If you look at it beyond January, then actually it improved. So it was really just that one big sale in January in 2021 that distorted the growth number. If you exclude that, then things are actually going up. Great, thank you for reminding us all about that. Regarding the $75 million guidance originally and now the downward revision, can you specifically talk a little bit more about this and the key drivers of that? Okay, in the beginning, obviously when we gave the $75 million, an important component was to allow the dispensaries in California. That is now going to be somewhat later, and that really exclaims the shortfall of $10 million. That's why we say, okay, we're going from $75 to $65, since there are not that many expenses allocated to it right now. It doesn't have a very big impact on the operating expenses. So once it starts to contribute, you get the big leverage effect, and that's when it really starts to contribute. That's why we think that we see the turn in EBITDA in Q4 when they start to contribute. And also there are many others. Like we closed, we're closing Williams Wonder, which is a global title. We closed elegance. So there are a lot of acquisitions that are closed that we are now starting to focus on to start contributing, and we see those contributing in Q3 going into Q4. Thank you. All right. Kiran, this next question, maybe you can chime in on this one. What steps of action has management taken or planned to take in order to preserve financing tools in the event that a conda spins off and there may be some type of investor selling their position? Spinning off is going to free up 6 to 8 million a cash on an annualized basis. And it also, remember a conda through intercompany will probably owe us 4 to 5 million dollars if they're successful. So conda spinning off actually helps us in that way and then also helps us in the fact that they owe us money, which inevitably that capital will return to us. The third thing you got to understand is similar to, you know, our conda's shares are going to be an asset to us, right? So if you take a lot further than like flora growth and you figure that at the end of the day we owe 40 or 50% of it in the comp of the flora growth, the numbers start to get a little silly. In terms of cash, right now I think we probably have 1.2 for about 5.7 to 6 million of cash on the books. But we still have our shelf open for another 5 to 10, I would say another 10 million on the shelf. So I think we have ample cash and we haven't tapped any credit lines at this point because we don't want to get into a loan, you know, we don't want to get into a loan-to-own situation ourselves. So we're being very careful with the guard. But cash is not what keeps me up at night. What keeps me up at night right now is purely execution of all the moving parts. And so, you know, getting these dispensaries open in California, we have an amazing sort of what I call fair following wind on the acquisition front because we're in a unique sweet spot where we're what's called the middle fish swimming in the ocean and they're giant, great whites above us and there are minnows below us. And we're the only ones sort of nipping at the minnows that we see right now, in particular in Oregon and in California. So there's a great opportunity there as well and really it's really a balance of trying to grow quickly but grow quickly in such a way that we don't, you know, that the trunk of the tree doesn't snap. So that's the fine line balance that we're operating within right now. Great. You know, very well said. I, again, we, let's see, time check here. We have about five more minutes. So I have a couple more questions that were submitted. But again, if anyone wants to jump in, please press star one. You can enter the Q&A queue. All right. The next question is surrounding the hiring of management and just employees in general, considering the cash reserve situation, which again, Karen mentioned doesn't really keep them up at night. But, you know, how do we balance all of this and, you know, why the focus on hiring? So essentially what I would like to say first is that it's very important that we have the very qualified and exemplary leaders in the company because we are trying to position ourselves and we are positioning ourselves. It's one of the premier MSOs on the West Coast focused on Oregon and California. And so in order to do that, we have to have the right management on board. And that runs the gamut from sales and ensuring that we have very, you know, well-oiled sales machine directed dispensaries. It's in terms of retail and having the right management there, it's marketing. It kind of runs across a couple of different positions as we are expanding our focus and as we are focusing on these markets, but expanding our vertical in each market. But in addition to that, we're actually looking at the spinoffs of Halo Tech and Aconda as an opportunity to, you know, spin-off some overhead as well. So we think all in all, it will really be balanced over time. And additionally, we also reduced some corporate overheads this summer. And Phillip, do you want to comment on some of the cost improvements we made in overhead this summer? The bottom line is that although we hired a few more people, highly qualified people, we actually let go more people. So there is a saving overall. So the people that we let go recently, there will be a one-off because of the famous that we have to make, but once that's behind us, then the comparison will be low. Exactly. No, that's exactly right. And the talent that we did hire are really key to positioning us, not just as a leader on the West Coast, but also talent for Onda that is going to, or that we plan to spin off. So it's just a matter of timing there. And meanwhile, as Phillip said, we've already written, go on. And then to add to that, some of the people, like, we obviously take care of all the expenses in Akanda, basically which is in Canmark and in Waterloo. And those expenses, we have kind of reallocated them. So the people that we are covering from Halo that are now going to be part of Akanda is becoming kind of inter-company exercise. So once whatever is going to happen with Akanda, those expenses disappear as well. So a number of people that were included in our headcount have been moved to Akanda and they will, at some point, will disappear. So that will help too. Agreed. And so are there any other, Phillip, from your view, are there any other steps that we can take to further reduce the company overhead? We're always looking. So I think professional, professional is pretty much like a big item in her voice is legal. And one of the people that we've hired is someone a little too much, you know, you're hiring more people. We hired an in-house counsel and the work that she does at the price that we pay her is much less than what we are charged by our legal service providers. And that brings us up. Okay, let's see. We don't have time for too many more questions. So I guess one quick question here, Phillip, just to ask about a different topic than cost. There's a question about why there are no revenues in the financials for the suit too. Well, the suit has made kind of one sale and we're talking about, I think, I think it was about a thousand dollars and that's about it. So it's complete. Right now it's insignificant. They tried to basically book fellow, has made one sale and that was kind of in a little too and who's more to show what's called provision right now. It's pretty much zero. There was one question, Phillip, if you have a brief minute here because we're running out of time, but folks are wondering about halo tech and the timing of the spinoff. I know you had mentioned it earlier on the call that we were still anticipating that it would happen, but do you have any idea of the timing or anything that you can add before we have to sign off? Yes, we are basically putting together a prospectus and we're also working with a tax council to make sure that we do this the right way. Can you repeat that, Katie? Just the timing of halo tech and we might... So we're in the process now of doing the paperwork. We're also working with a party that is going to take over the management of halo tech and we make the merch in a company in it. We're working to get this over the line in Q4. My best estimate is October, November. Great. So the questions that we have time for is now 216 Pacific time. So, Maddie, do you want to close things off or does anyone else have any comments? Maddie, do you want to wrap up for us? Yes, ma'am. Today's...this concludes today's conference call. Thank you for participating. You may now disconnect. Thank you.