 Hi, how are you doing? This is Richard and we have a RichTV Live with our very special guest. It is Ben from Pure Extracts. How are you doing today, Ben? I'm doing great. How are you? I'm doing good. How are you enjoying the conference so far? Fantastic. A lot of interesting companies out today. It's fantastic. Yeah, it's pretty interesting. It's been an interesting year in the cannabis sector. Why don't we start off by you telling us a little bit about your company and what makes you guys unique? Thank you very much. Pure Extracts is a large-scale extractor. We extract cannabis, making a host of oil-related products, formulating for the beverage, vape, capsules, edibles area, growing industry with 2.0 coming online. The host of companies, the LPs, need additional capacity in the extraction business. We were previously a great market producer that's turned to the legal market. We've already lived through 2.0 on the black market side and now we're here to help companies on the 2.0 side. Well, you guys are in a very hot sector because out of all the companies in 2019, two of the best, MetaFarm Labs, Valens GrowWorks, both extraction companies. So are you similar to any of these companies? If you have to compare yourself to another extraction company, is there another company you can compare yourself to or are you guys unique? We're unique and the same. Same breath. MetaFarm and Valens are very similar to us. Mart-scale extraction business, both doing custom formulations and extractions, both for their LPs and selling product under private or white label. So very much the same. Where we differed a little bit is we were in that business long before they were in existence and we were in that extraction knowing what sells to the public in the great market. So we have a little bit of a different edge from MetaFarm and Valens. We were in business for a couple years before it was legalized from a 2.0 perspective. So we have a little bit more market data on what the consumer would want. So that's a little bit of a differentiating factor for us. Okay, now our investors are worldwide in over 60 countries and they love to invest in undervalued, underappreciated, underexposed hyper growth opportunities. Obviously this is a hyper growth sector. If an investor was looking at your company and they were wanting to invest, what would you say to that investor? Well, I would say this. Pure extract is a value play. We are going public in March, so on the CSE. We've looked at the market and we understand what a difficult market it's been over the last year and you have to provide value to investors and you have to show by execution of the management team that you can build a business, a profitable business. I come from a large-scale cultivator. I was the CEO of Natura Naturals. We sold at Tilray in February. So building value for the shareholder is this table stakes today and I think from our perspective, we put our money where our methods. We didn't overprice this from a valuation perspective. We want to build the equity on the back of our revenue and profitability. So you guys are going public in March? Yes. So have you already organized your share structure? Can you explain a little bit about your share structure? Maybe how much insiders are holding and what your issue note standing is? Sure. There'll be about 70 million shares outstanding. The management owns about 10%. The shares have a very strong walk-up structure, so the founders and whatnot are very much in the boat for the long term. From that perspective, we are raising $10 million. We are in the market right now. It's actually going fairly well in a tough market, which is great. We'll be public in the March timeframe, both on the CSE, and then we'll do an aim listing subsequent to that. AIM listing, okay. And what is 2020 going to look like for your company? We're excited about 2020. It's for us, some of the cultivators, they didn't have such a good 19 in 2020 doesn't look as bright. For us with 2.0 rolling out, the C is our oyster for lack of a better word. There's a host of opportunities for us to produce both in the edible market and the tolling market. There's a lot of LPs that don't have that expertise and don't have the capital to do that. We have the expertise being in this business for several years before in my previous experience running a large-scale LP. So we feel good about 2020 and 2021. Fantastic. If there was anything that somebody wanted to know about your company that maybe someone doesn't know, is there anything you could you could tell the investors that are watching? Like, you know, it's something that makes that maybe it would be a surprise or something you guys are working on or some type of a joint venture or M&A's or anything like that? Any surprises? Anything that you're working on, secret weapons? We'd like to know if there's anything crazy coming. I would say we're always working on very interesting JVs and product development. That's you know our differentiating factor. The nice thing is we were in this industry previously. We're very dialed into the U.S. market and we're bringing brands up from the U.S. you know to do white label and joint venture you know with us and that's that's kind of table stakes of differentiating our business from our competitors like balance and metafarm that you know growth area with brands coming from south of the border and across the pond that we can develop within Canada and grow the Canadian market. Eventually the regulations will come off on advertising. You'll be able to differentiate your brand a little bit but you have to get them here and get them established and that's you know our secret weapon you know and you'll find out who it is when we hit the market in March. I love it. Now I've been watching this sector since 2017. I remember watching the cannabis sector in Canada the market cap on marijuana index was like 200. It went up to over 1,000 now it's back to 200. We are the lowest we have been since 2017. The entire sector despite the fact that companies are profitable despite the fact that their revenues are all-time highs despite the fact that we have more stores despite the fact that we've been legal for over a year everything keeps getting bigger but yet the sector keeps shrinking. What do you think about that? Like what is what is someone who's about to open up a business in a sector that's been collapsing thinking about this industry when realistically as an investor we know it can only go up from here. That's right so I think we're at the bottom. I think the market the market was oversold the LPs really built too much hype around it's we're going to build it and the people will come versus I'm going to build a profitable business that has fundamentals with a management team that can execute versus I have the biggest greenhouse where I have the biggest production and that that was you know not now they got the biggest amount of debt exactly well or they have the biggest amount of production nowhere to sell it that's right so it's just been a but at the same time you're probably happy because they were able to make all those mistakes so you don't have to a hundred percent and even better for our from from my segment because we're an extractor you know the market price of dry cannabis has fallen you know very steadily over the last few months so my input costs continue to erode the tolling amount because there's a lack of tolling folks out there our tolling amount that we charge is pretty constant so we have a perfect storm right now for the extraction business so in the segments you know core LP that's a grower it's a tougher market for core extraction with 2.0 coming on and the host of new products that are coming to market you know we have a very nice opportunity to capitalize on those products you know being rolled out because we're going to provide the oil input for those products that's perfect guys this is a new company they're going to be going public in March keep your eye on the prize stay tuned this has been the CEO of Pure Extracts thank you so much for being here today I wish you all the best of luck in your future endeavors our entire community be watching very closely and hopefully you guys hit all your objectives and achieve all your goals I really appreciate it and stay tuned thank you so much have a nice day guys thank you