 Hi, how's everybody doing today? I am your host, Rich here on behalf of Rich TV Live with our very special guest, Jeff Stevens, the CEO of Psyched Wellness. How are you doing today, Jeff? I'm doing great. Thanks, Rich. I really appreciate you taking the time to have me on your show. Love having you on the show. Psychedelics Sector is really, really hot right now. It's an up-and-coming sector and Psyched Wellness is one of the companies that we're really focused on. What I wanted to do today, Jeff, is learn a little bit more about how you got involved in the business of doing deals, working with public companies, and what made you want to become the CEO of Psyched Wellness? That's a loaded question, so I'll do my best to keep it short. Institutional sales and trading for 15-plus years at various boutique shops in Canada ran a couple of desks, and through that process met a lot of really interesting management teams. A lot of that was focused primarily in the mining industry as that was sort of the hot spot for Canada back then. But I recognized early that it's important as a public company to run an operational business, being whatever your core business is, and then also to run the market side of the business. And so many times meeting these great CEOs of companies who just didn't understand that they had to stay in regular contact with the market and work with groups like yourselves, where you can communicate with them and keep them in the flow of what's happening. So that was one of the things where when I was sort of coming to the end of my institutional sales career, I thought, you know what, if I take on a role as an issuer, I really want to be proactive with the investment community. And so sort of evolved from that. I left the sales desk about six years ago. I've been involved with about four or five companies that were private going public, structuring the deal, raising the money, in some cases being the face of the company. This time, it's my first time as the CEO. So prior to, prior to sight, I was COO and a president of a AI company called Data Metrics. And we worked, you know, very diligently to get that to a point where, you know, our investors made money. It was a challenging challenge to the up and down road. But we've come through the other end on that side. And psyched is I'm really excited about I think the psychedelic industry in the sector itself is just the beginning stages. And there's a lot of growth opportunity. There's a lot of exciting things coming down the pipeline from from ourselves and from our peer group as well. Let's talk about that a little bit. So what are the main focuses for psych wellness for the first half of 2021? And what sets you apart from your competitors in the psychedelic space? Yeah, so we are very focused right now. We're in the middle of our preclinical trials with our CRO partner, KGK Science. So we are doing our safety and efficacy, rodent testing, safe dosage levels. Because what we're doing is is kind of unique. We're working with a mushroom called M&E to Muscaria. I'll show you a prop for pull this out. But most people recognize it's the red and white mushroom cap. Popular culture has done a great job branding this people will recognize it's likely the emoji on your phone. You know, Super Mario Brothers, they would eat that mushroom and get bigger in size, because that's actually one of the attributes. If you were to take a big dosage of M&E to it gives you a sense of size increase. Yeah, so it's a very cool mushroom. But what's unique is it has never been a scheduled one drug. So we're able to work with it as a food supplement. And that's what we're doing. So our preclinical studies right now are with the goal at the end of this year to be able to apply to the FDA for new dietary ingredient and the Health Canada for natural health product number. So we're going to have a path to market in early 2022, we'll be able to start selling our health supplements. We've done all the safety and efficacy. We did the toxicology assessment, our gap analysis and our path to path to market. So we've been able to identify and trademark our protocol for creating a safe for human consumption extract of Musco more, which is the compound and aminica muscaria that we're after. Wow. Now you guys also just raised $6.6 million through a financing. Can you tell us what the company plans on doing with the money to help achieve its milestones in the future? Yeah, so that was that was great. We're really proud of it for two reasons. First, obviously, get about deals is a big win, especially for your company. We, you know, we've only been trading about six months. Second to that, it was a bought deal for a four month old private placement. So you don't see that very regularly. I think when you look at the team that we've assembled on our board and management, that's what gave confidence to Canakor to stand behind us and give us that. So that was huge. It totally de-risks our preclinical studies that we're doing. It allows us more funds to look to do further R&D. We are obviously looking for additional fungus and plant opportunities. I think the goal of the company is we really like the fact that we are working with, you know, non scheduled drugs. And that's a differentiator for us with our peer group because, you know, again, our path to markets quicker, we're able to research, develop, import, export the product without all the red tape that comes along with the scheduled drug. So when we're doing that, we will look at other compounds that sort of fall in the category of a food supplement as opposed to a drug. So yeah, the funds will provide us with the ability to sort of look at that. And you had hinted earlier on in a conversation about consolidation. And I think that you'll start to see that in the sector. I think, you know, there's some loft evaluations now, which is very exciting. I think the companies have done great work. But I think we'll start to see some consolidation. So we want to be in a defensible position and showing that, you know, we can get financed. The bank believes that we were included in the horizon psychedelic ETF, which was a huge win for us. We were one of the first 17 companies. So, you know, it sort of put us on the map. And we recognized, okay, well, you know, we better cash up and be defensible so that, you know, if something does happen, we're not vulnerable. You know, we'd like to like to be in a choir if possible, if there's something that fits what we're trying to do with this with the business plan of the company as well. That's great. There was a press release that Psych Wellness provided an update on antioxidant and anti-inflammatory study in muscle, which you just mentioned. Can you go through that update with us and what it means for the company? Yeah, so that was a great little, not a side project, but it's outside of what we're doing our preclinical studies. And one of our advisors, Brian Tick County, took that on. The qualities of muscle, which again is the main compound in aminida, a scary mushroom that we're after, it has anti-inflammatory qualities. Anecdotally, people have been using these, you know, these mushrooms for a various number of health issues. And inflammation is one of them. So people suffering from arthritis, etc. So we wanted to do some initial studies to make sure that no allergen affects and be able to move forward with that. We think that there's an opportunity for that as well. And that would fall under the health and wellness side as well, where it'd be sort of a, you know, a topical cream or something, because it's very transferable. Are you guys looking to do any financing in the future? Are you fully funded right now? If you are looking to do financing in the future, how much would you be looking to finance and for what? I think, you know, we just closed this financing. I think we're in a very strong cash position for what we're doing right now. You know the name of the game and the markets, you know, sometimes things happen and you're opportunistic with it. But where we are right now, I feel that feel confident that we have a good position and that we're able to execute on what we're doing. OK, great. Now here at Rich TV Live, our community is worldwide over 100 countries watching this show every day all over the world. And one of the biggest keys to our success for our community is we love tightly held companies, companies that are responsible with their shares. Now, you just raised some funds, 6.6 million and issued 21,300,000 shares. Now that we've issued those shares, can you break down the share structure and how much is held by insiders and friendly hands? Yeah, so I think if you look at our capital structure between management directors and then sort of our seed round of founders, we are at about 25 percent of the capital. You know, we actually bought myself and our chairman Michael Miederhoff bought shares in the open market in the first week of trading. You know, so we sort of stand behind it in that respect. If you look at the share composition, we also did a two cent financing round prior to going public. We put a voluntary escrow on that. That was with, you know, some key people. So we actually changed that escrow release voluntarily again so that it was less potentially harmful to the stock when it was trading. So it went from 25 percent tranches every six months or based on a share calculation to 10 percent tranches every two months on the balance of the 50 percent that was held in escrow. And that was just really to, you know, people had already made some good money from their initial investment and everyone agreed. We don't want to have, you know, a wall of stop come out as we're trying to build the company. So everybody agreed to lock up. So we're quite proud of the shareholder base that we have and our early supporters. I mentioned our board earlier, Rich, and that when we did our pre-RTO financing, we were only looking to do a million dollars. Terry Booth joined the board. Michael Miederhoff joined the board. And there were some big names that the market really got behind. And we actually had over four million dollars in interest. So we actually took just shy, yeah, we took just shy of four million dollars in that pre-RTO round, which allowed us to just do a straight listing without an RTO financing. So this financing was the first one with Canakord, was the first one since pre-RTO. If there was one thing that you'd want shareholders to know about site dwellers, what would it be? Again, I keep going back to team. I think obviously working with a legal substance compound is very important because it differentiates us from the crowd but our team. We have Professor David Nutt, who I haven't mentioned yet, but so we're very proud to have him on our board. He's a professor at Imperial College. He's the chair of the Scientific Advisory Board for Compass Pathways, which is a two billion plus company. Huge. The largest psychedelic company, correct? For sure. He was Robin Carhart Harris's professor at Imperial College. So he's one of the top sort of five thought leaders in the modern renaissance of psychedelics. We actually co-called them, sort of reached out to him and said, hey, we're working on aminita miscaria. We want to take a product to market. Would you be interested? And he was blown away because, you know, most people, they look at it initially if you Google it, it says it's a poisonous mushroom. But if you do the work, it's actually been mislabeled and there's ways to convert the ivitinic acid into muscamole and that's all part of our trademark protocol, extract protocol that we have. So he worked with us initially as an advisor for the first three months, was comfortable because he obviously has a lot of reputational risk. So here's this new startup company. So he worked with us as an advisor, got comfortable with the way the team and the management team was working with, you know, high-end CRO partners doing the science first, getting all the data to support everything as we move forward, you know, doing the preclinical studies to go to market. So after about three months we asked him if he'd consider a full board position and he took it. So we're very proud to have him on as a board member, working closely with my management team, David Schisel, who's our COO and the rest of our advisory team. So we've got a great team and something unique in the sense we can beat a market within a year where our peers are sort of three to six years with clinical trials. One of the reasons that we love doing these interviews is we give the shareholders an opportunity to get in contact with the company, ask them questions, investors might be able to get some, you know, interesting conversations going so that they can learn more about the company before they invest, potential joint ventures, LOIs, business partnerships can be generated from these relationships. What's the best way for someone who watches this video to get in contact with you or the company? Yeah, I love engagement with our shareholders, our potential shareholders. So yeah, all of our press releases will have my email address on it. That's likely the best way to get in touch. The phone's there as well, but it's sometimes it's harder to answer a phone call during the day because I've got a lot of calls and interviews scheduled. So email is the best way and please do reach out. Happy to get in touch and we can set up a time to have a conversation after that initial one. But yeah, welcome that opportunity to speak with anyone in your network for sure. Okay, great. Now, guys, for that are watching, please remember that Rich TV Live is strictly for education and entertainment purposes. Always do your due diligence. Always do your research before you invest in anything that we talk about here in Rich TV Live. Consult your financial advisor. Chances are your financial advisor would say, yeah, this is a really good pick. I really like this company, guys. I'm going to tell you right now that in my opinion, this is a company that is underappreciated, undervalued, underexposed. I think there's a lot of potential for this company. I think you're doing something really great, Jeff. And I'm very, very big believer in psychedelics and new hypergrowth industries. We've seen it with industry after industry after industry. We've seen Mind Medicine be a huge success story, which I brought first about a year ago. It sat at 30 cents for a long time and today a year later it's at $5. So we've seen huge success with Mind Medicine. We've seen them grow their market cap to $1.2 billion and psych wellness is just getting started. So if you guys like this video, please smash the like button, comment down below, share the video everywhere, and subscribe here with Jeff Stevens, the CEO of psych wellness. Thank you for joining us today, Jeff. That was my pleasure. Thanks for having me and look forward to future opportunities to chat with you again. Yeah, and anytime you have any big breaking news, anything you'd like to discuss, love to invite you back on the show. And guys, remember what we say to you guys, if you're not winning, you're not watching. We bring you the winners and we bring them to you first. Thank you guys for watching. Thank you, Jeff. Have a great day. Have a nice day everybody. We'll talk to you soon.