 Hey guys, how you doing? This is your boy, Rich from RichTVLive, and you too can join the club at richpicksdaily.com where you can learn how to win and trade. Thank you guys. What are you doing today? I'm your host, Rich. We have a RichTVLive with our very special guest, Ben Nikolevsky, the CEO of Pure Extracts. How you doing today, Ben? Rich, you're doing great. Thanks for having me back. Hey, always a pleasure and excited to have you on the show. I have a few questions for you, and we know that Michigan is one of the major markets for the company. Can you tell us about the medical processing pre-qualification status letter received on November 23rd? Yeah, we're super excited, though. As you know, we entered the market with a joint venture with Golden Harvest to be their attraction partner in that market. Obviously, huge market doing like $170 million a month in sales and rec cannabis, which is almost the size of Canada. So we received our pre-qualification to sell medical cannabis once we're up and operational in the state, which is huge. Usually a couple of weeks later follows the recreational license. So actually, we'll receive that in the mail in a couple of days, hopefully. So we'll have all of our licensing needing to start selling product in the Michigan market, our construction processes continuing in Michigan. We're hoping that end of one queue will be up and functioning in that market. We're already in market in Michigan, talking to our partners from a retail perspective to list pure polls product in market. Our partner is in over 100 dispensaries today. There's 450 dispensaries now in Michigan. So we haven't penetrated all of them, that's for sure. And they're excited about the product and we'll be doing white labeling for our partner Golden Harvest for our first white labeling program. So we'll have built-in revenue day one when we click the switch. So we're super excited about that market and we continue to look for other US markets to do similar transactions. So Michigan's been a great market. We're actively looking in a few other states that we think will be the next Michigan. Nice, now is it correct that you will be getting your recreational pre-qualified letter soon? I believe you guys are expecting to have it by the end of December, is that true? Yeah, yeah, exactly. So that's the next step in the process is you get your medical license or you get your rec license and then you're away with the races, you build it, they come and take a look and they give you your production papers effectively. So we're super excited about that. We get that, we're away to the races and hopefully we'll be by second quarter revenue will be producing out of our Michigan asset and we'll continue to march across the US and take that country by storm. Can you also talk to us about the surplus equipment in Canada ready to ship? New equipment, specked out, including pre-rolls. Yeah, so when we did a upgrade in our Canadian facility, I think some of your viewers might remember, we installed Vitalis' first or second super critical injection system that cut our production time down by 75%. So our run times went from eight hours to basically an hour, give or take. So our productivity went through the roof. So it made some of our other equipment redundant in the facility. So we're gonna ship that equipment to Michigan. So from a cap X, significantly reduce our cap X for Michigan. And we expect a pre-roll to one of the new markets that's just coming online in Canada, but it's pretty active is the pre-rolled market that are infused with cannabis oil. So it's a product in California that's really catching hold. And we actually produced that previously in the illicit market. So we have, when our formulators were in that market, we've already had that formulation tested and we know what sells pretty well. So we've expected a machine for the Michigan market. We'll be entering full force with not only the pre-rolled infused product which is better margin and you're not competing with other pre-rolls. So my resin product also in the Michigan market. What else is happening in Canada for the company? Is there any additional news regarding Eastern Provincial Distribution? Absolutely. So as you guys know, we're in four provinces already. So we're in Ontario, BC, Alberta and Ontario. The Eastern products are even Eastern provinces are a necessary part of our expansion. We'll be releasing soon. We're gonna be adding another province there. We're also working on two other provinces hoping the new year that will come on board. So we have 24 SKUs in market today, nine medical SKUs in market. So for an LPR size being listed in effectively five provinces across the country having 24 SKUs in market and nine in medical we're definitely punching above our weight for sure. Now I heard and we heard that you guys are adding three more SKUs. Can you talk a little bit about this? Yeah, so one of them is the pre-rolled infused item that will come to market in the new year. Two other I can't really talk about from a new product development but they're in the live resin area of the business that will be based and then another edible product. Super exciting, large format from the edible perspective. We've shown it to some of the provinces already. They're super excited about the product. So when it's ready, they'll be placing orders from that. We've seen really good penetration in our gummy and our bait product. Our CBD gummy has been a sleeper that we thought would sell okay. It sells like crazy. Our 75 and 100 CBD gummy base from a medical perspective our fireball or deal with fireball we sell a lot of fireball product under pure chews. The CBD was an add-on to the business and that's been like the product that you go, holy smokes, I didn't think that would sell that strong. These products that we're adding, we've shown them to the provinces is three SKUs. We think they'll be a really good addition to the product line and they're super excited about adding it to the provincial distribution. So R&D guys are killing it for catching the trends that are in the US and bringing them into Canada. Last time we spoke, you guys were getting into white labeling. Have you guys had any large white labeling orders? Yeah, we actually received one this week in the largest one that we've received to date. It's big. We'll be able to release that in our financial statements but the white labeling businesses we talked about took a little longer because of COVID and whatnot and the shift in the marketplace. We picked up three very nice sized white labeling programs. We're bidding on a couple of material contracts from the larger LPs and it's nice because we're now included in the RFP process with the top three LPs in Canada. So they recognize our expertise and our ability which is a pat on the back for my folks to be recognized and their ability to extract and be able to produce and deliver on time with the larger LPs. If they didn't have that confidence in us to be able to deliver the product on time and the quality we would never receive the RFPs to respond to produce their product for them. So it's nice to be included in that peer group for sure. Now you guys are preparing for launch of infused pre-rolls based on wholesale biomass purchase and updating operating software for existing filling infusing systems. Yes, it's a mouthful. So the process for infusing pre-rolls is somewhat automated from a production perspective. The good thing is we already own most of that hardware. So it's a software update for us from our injection systems that we use with our vape cartridges. We can actually use that from an infused perspective. So the coders that are much more versed in software than I am have been working on modifying our systems. It's basically done. So from a production perspective we can crank out a lot of this stuff. We were looking at, we already buy a large amount of biomass that we use from an extraction perspective. The nice thing is we don't have to go buy additional biomass in any of our geographies to support that business. It's part of, because we're buying the quality that would go into pre-roll today we don't need to have additional expenses on adding more inventory. It's just in the normal inventory terms. We have turned the inventory faster but we don't need to take on additional cost structure for producing it. We have the hardware and we have the biomass flowing through the system. Tell us about the CBG extraction and formulation underway for the 2022 product launch. Yeah, we're excited. So as we said, the CBD business took off but that we didn't think would be that strong that quickly. CBG is following right behind. So one of our partners, we've done a deal to start doing R&D and extraction in the CBG space and coupling that with CBD products for launch in 2022. We're probably one of the only groups that have constant supply of CBG in the Canadian market and they're actively doing development. I think there's one or two products on the market they're spotty to get product deliveries from that perspective. We have a constant supply. We're concentrating it with CBD products for our gum and they'll be in a big auction also into 2022. So our R&D guys definitely are not sitting on their laurels riding what we did in the past. Our product development guys are cranking out new products for every quarter. We have a master plan to continue to roll out new products as the market develops both here and we use obviously that in the US. Lastly, can you update us on the application that was made to Health Canada for the import permit for 10 kgs of psychedelic biomass for your Pure Science Corp JV partner, Science Group South African Lusoto Cultivation R&D Facility? Yeah, so we're excited about that. We're bringing in product. It's hard to do your hands on psilocybin to use in the Canadian market. We have two clinical trials going on with two different universities that we'll be releasing in the market shortly and we'll be bringing that in and extracting it with one of our partners under our methodology, science methodology to be used in two clinical trials with a host group approved by Health Canada. So we're excited about having our product under our extraction formulated and used in clinical trial to help medical patients. So huge new area of psilocybin in Canada being involved with clinical trials at a university level from a medical school perspective, exciting for us to be able to use that product and help people in seeing the benefits. So getting that into the Canadian system and participating in the clinical trial is exciting for us. Thank you for joining us today. I must remind everyone who is watching that Rich TV Live is strictly for information and education purposes. Please do your due diligence, do your research before you invest in anything we talk about or discuss here on Rich TV Live. In saying that, we do believe that this is a company that is undervalued, underappreciated, underexposed, put peer extracts on your radar, put it on your watch list in Canada, the symbols PULL in America under the symbol PRXTF. And thank you for joining us today, the CEO of peer extracts, Ben Nikolevsky. Rich, thanks for having me. Can't wait to be here again. Yes, love to invite you back again. Hope you have a phenomenal holidays and we look forward to speaking to you again in 2022. Thank you for watching everybody. You're not winning, you're probably not watching. We're bringing the winners and we bring them to you first. Thank you for watching everybody. If you liked the video, smash the like button, comment down below, share the video everywhere and subscribe if you're alive. This is Rich from Rich TV Live with the CEO of peer extracts, Ben Lyft Nikolevsky saying, have a nice day everybody and we'll see you soon.