 Hi, how are you guys doing? This is Rich here and we have a RichTV Live and we have some big breaking news from Sight Wellness. Big breaking news from Sight Wellness, despite the fact that the stock is actually heavily down today. P-S-Y-S-A, here's Sight Wellness right here. Despite the fact that the stock is heavily down today, they have some big breaking news and currently at 53 cents and down 11% on the news of a major bought deal financing. There's a major bought deal financing for Sight Wellness right now. And because of that, the stock is kind of selling off a little bit due to the fact that it was done at a much lower price. It was actually done at 31 cents. Stock right now is at 51. So because of that, a lot of times when companies do bought deal financing, you're gonna see this type of thing happen where they raise money, the stock goes up, they raise money, millions of dollars, $6.6 million and then typically people will either sell or market makers will take the price down closer to the price of the offering. And that's what we're seeing with the stock clearly here with Sight Wellness. You can see the stock is down 16% on news of this offering. Now, if we scroll back and we look at how the stock's performed, you can clearly see that the stock was kind of sitting at 35 cents and made a huge move up to 75 and now is consolidating back down. Let's take a look at this. So it started at 35, went to 75, excuse me, and is now consolidating back down to these levels where it's at 51 cents and they raised money at 31 cents. So they raised money right around here. Now, I don't know if it's gonna go to that level, but typically what I've noticed over the years is that when companies do raise funds, sometimes, not always, but sometimes we will see that the price will go back down to the price where they raise the capital. I'm not suggesting that's what's gonna happen here but you can see there's a sell-off on Sight Wellness that's down 16%, currently at 51 cents. Now let's just break down this news. So this is the news, Sight Wellness closes 6.6 million bot deal private placement, Sight Wellness Limited, PSYC in Canada, PSYCF in America, 5U9 in Frankfurt, Germany, a life sciences company focused on the production and distribution of artisanal, functional and psychedelic mushrooms. Please do announce that further to its press release date to January 21st, 2021 and January 22nd, 2021. It has closed the bot deal private placement for total gross proceeds of $6.6 million in connection with the offering the company issued an aggregate of 21,300,000 units to subscribers at a price of 31 cents per unit. So that's the big news. Obviously there is a lot of selling that's happening in the stock right now on this news. So as an investor, you need to, in my opinion, watch the stock and try, if you're looking to get into the stock, you're trying to get in at the lowest possible price, right? Obviously it's selling off right now. So you don't wanna chase a falling knife. So you have to kind of put it on your radar, put in your watch list and watch it. If you see it starts to turn up, then you may wanna position yourself. If you see it goes down further than what I typically do is I'll continue to watch it until I see it stop going down and start to turn up and then I'll position myself for the next leg up. I think that this is a great company. Obviously the first time we've talked about it and I wanna talk a little bit about some of the key characteristics. So the capital structure. Now this is gonna change with the new funding, but you can see that before they did the funding, there was 115 million shares fully diluted with the additional 6.6 million and the 23 million shares being issued that'll bring them to about 140 million shares issuing that standing and fully diluted, okay? Very important for you guys to understand the share structure. Now what I wanna do is if you go to their website, their website is psyched-wellness.com, you can actually go to their website and see their investor presentation. What I wanna do today is I wanna go through the investor presentation. I wanna break down all the key elements of this deal that I think are vital for everyone to understand so that you can understand exactly what this deal is, what they're doing, what they're all about and where they're going. So first and foremost psyched-wellness limited is a Canadian-based life sciences company dedicated to the production and distribution of psychedelic mushrooms and associated consumer packaged goods. Psychedelic mushrooms is one of the hottest sectors in the world right now and it's a brand new sector that's just getting started. This is PSYC in Canada. PSYCF is the symbol in America, psyched-wellness symbol in America currently at 42 cents. Now if I was to mark this, what I typically like to do is mark the high high and I like to mark the low low, okay? You can see here that this is clearly trending up and now on this news of a funding, it's going back down, trying to get closer to that funding price, okay? So this is the US symbol PSYCF and in Canada the symbol is PSYC. So as increasingly health conscious consumer seek alternatives to traditional medicine, there's a tremendous market opportunity to enhance the health and wellness of millions of our suite of mushroom infused products. Psyched products currently under R&D are considered food and are principally regulated under the Federal Drug Act and the Consumer Packaging and Labeling Act in Canada and the Federal Food, Drug and Cosmetic Act and the Nutrition, Labeling and Education Act in the United States. Psyched mushroom derived consumer packaged goods portfolio will be led by our flagship mushroom extract product and manita, muscaria infused tinctures. It is anticipated that each tincture will be filled with extracted oil derived from dried and ground amita muscaria caps as well as other well-known functional mushrooms when microdosed aminita muscaria has anecdotally been shown to soothe the body, ease physical distress and help with sleeping. So this is the market opportunity with the large and rapidly growing addressable market. If you guys have any questions, please feel free to put them in the chat. I believe that the psychedelic mushroom space is one of the fastest growing brand new sectors that I think needs a lot of attention and we are definitely putting our focus on it right now. I need you guys to turn and put psyched wellness on your watch list, put it on your radar, PSYC in Canada, PSYCF in America and I'd love to know your opinion on this stock. Okay, you guys can join the chat. If you guys have any questions, please feel free to put it in the chat and I'm gonna go through this deal in detail and try to pick it apart and try to determine the key points that I think everyone needs to be aware of. So let's talk about the large and rapidly growing addressable market and the market opportunity. The global market for functional mushrooms is forecasted to reach USD 34.3 billion by 2024, growing at a CAGR of 8.04% between 2019 and 2024. That's some serious growth. The popularity of mushrooms is growing rapidly around the world yet the market remains fragmented, increasing interest in plant-based wellness alternatives to pharmacological treatments for health issues such as insomnia, depression and anxiety. And this is just the beginning for psychedelics. According to Whole Foods, functional mushrooms were one of the top 10 trends for foods in 2018. So let's talk about Amanita muscaria, facts versus fiction. Amanita muscaria is commonly referred to as the fly ageric. Amanita muscaria typifies the iconic image of psychogenic and hallucinogenic inducing mushrooms, both in legends and in literature. Amanita muscaria has been consumed by cultures worldwide for psychedelic effects after being parboiled to reduce the potency of its major intoxicating constituents. The toxicity of Amanita muscaria has been misunderstood. It has been associated with the mushroom poisoning, long believed incorrectly to be due to muscarine. However, muscarine is found in such minute quantities in Amanita muscaria that it is clinically insignificant. The psychogenic properties of the plant are due to ibotinic acid and must simul a more potent decarboxylated version of ibotinic acid. Amanita muscaria is also marked for not continuing, not containing any deadly Amanita toxins found in most other poisonous mushrooms. The Amanitins and muscarine found in most other poisonous mushrooms are responsible for the lethal nature of these fungi, the induction of a dangerous mascarinic syndrome and the unfortunate misconceptions levied on all mushrooms from toadstool to edible varieties. Amanita muscaria is not only unique in its instant recognizability and ease of mycological identification from whole specimens, but it has a well documented and long history of traditional use in foods in Europe, Russia, Serbia, North America and Japan. The chemical characterization of the mushroom through analytical methods and the thresholds of the principal constituents to induce pharmacological effects in man is also known. So let's talk about the product development and 2020 achievements. So this is a company that is just getting started and I think that the upside is tremendous. Love to know your opinion and love to have you guys tune in and let me know what you think about psyched wellness. So in Q1 2020, a year ago, market assessment and business planning efforts were happening. Then the initiated R&D research and development on the use of Amanita muscaria as a functional mushroom supplement. In Q2 2020, a complete white paper and toxicology report on Amanita muscaria commenced R&D for the extraction process and method. In Q3 of 2020, they completed the R&D for the extraction process and method, completed gap analysis and path to market for the Amanita muscaria extract, complete SDS writing, commenced preparation of the NDIN dossier. Just recently, we just finished Q4 2020, they completed writing extraction specifications, complete preclinical acute oral toxicity, complete preclinical dose range finding studies, commenced preclinical 90 day study, commenced accelerated stability tests, commenced master file submission and meet and greet with the FDA. So they are on the verge of something big. They are on the verge of something big with a meet and greet with the FDA around the corner, this is or actually just passed, this is huge. So let's talk about the product development and roll out for 2021. We're obviously in Q1 2021. So let's talk about where we are and where we're going with psyched wellness because we love to see catalysts that are coming. And this is a company that has many catalysts that are coming in the future we need to be aware of. So right now in Q1, they're focusing on completing their preclinical MTD, commencing preclinical dose range finding studies, complete an academic research on muscle mole for various ailments, commence clinical trials on the company's formulation for anxiety. In Q2 2021, they are going to commence preclinical 90 days oral toxicity study, complete preclinical dose range finding studies, meet, greet with the FDA and Health Canada, commence neuro behavioral studies and commence conditional place preference test. That's in Q2 that's coming and that will start in April of 2021. In Q3 of 2021, they are going to complete the neuro behavioral studies, complete conditioning place preference test and commence clinical trials on the company's formulation for addictions. Now I wanna remind you of a company that I brought you guys first, Mind Medicine. I brought Mind Medicine over a year ago at 30 cents, told everyone to be a rocket. Today, Mind Medicine trades at over $5. It's up well over 1,000%, over 1,500%. And I remember I brought it first and I did the exact same thing. I sat here and I broke it down. I did the research, I did the analysis and the stock didn't move. It did not move. I wanna remind you, it did not move for quite some time. Let me pull it up. Here's Mind Medicine. You can see it's trading at $3.92. And if we go all the way back to one year, you'll see that it was at 51 cents, 51 cents, right? When it first started in America. So when it started in America, it wasn't a success story. It wasn't at five bucks like it is in Canada right now. It wasn't at 392 when it started. It was at 50 cents. And I remember telling people about this stock and everyone's like, what's wrong with Mind Medicine, Rich? It doesn't move. What's wrong with Mind Medicine, Rich? It's all about patience. It's all about patience. You gotta give these companies time to grow. You gotta give these companies time to evolve. You gotta give these companies time to raise money. You gotta give these companies time to execute on their plan. It's not going to happen overnight. Sometimes we'll talk about a stock and it does explode overnight. But more often than not, it's gonna take some time. So it's going to be an exercise in patience. It's going to be an exercise in patience. What's up, Crypto Man? How you doing, Georgie? Georgie says, I like very much the company already in after the retrace. If it goes down too much, I will add more shares. Thanks for the pick. Hey, my pleasure. And these guys are listed in Canada, the United States and in Frankfurt, Germany. So huge development rollout happening here with psyched wellness. And like I showed you guys my medicine, it took some time, but that stock went up 1500%. This is another stock that's just getting started and what's in their future, right? What's in their future? So like I said, Q3, 2021, complete neural behavioral studies, complete conditional place preference test, commenced clinical trials. That is huge. Commencing clinical trials in Q3 on the company's formulations for addictions. In Q4, which starts in October of 2021, a complete preclinical 90 day oral toxicity study, pre-submission meeting with the FDA and begin sales of the company's flagship product, Amanita Mascarea extract in the United States. So they are expecting to have sales in Q4 of 2021. So we've got some time to position ourselves before they get into sales. The question is, what will the stock do between now and then? That's the million dollar question. So let's talk about their 2021 action plan. And guys, I always say this, companies don't plan to fail, they fail to plan. If a company has a plan and they stick to it, that's the type of company that I'm interested in. If the company doesn't have a plan, I'm not interested at all. They need to have a plan and they need to execute it. And if they execute their plan, then I'm interested. So in 2021, the action plan, so in 2020 psych wellness successfully finalized its Amanita Mascarea extraction process and commenced a comprehensive scientific R&D program. As a result of the R&D, the company, its respected scientists, scientific advisors and its crow partners began to better understand the enormous medicinal potential of its unique extraction and determined that the action plan for 2021 will focus into industries. They will focus in the food supplement industry. Psych wellness will finalize its R&D process and will start sales of its first flagship Amanita Mascarea tincture in the United States as a new dietary ingredient, NDI, and will apply to sell it in Canada as a natural health product and HP. This is huge. This will be the first psychedelic food supplement that will be sold OTC over the counter. Massive, massive opportunities here for psych wellness folks. And we are literally bringing this to you for the first time ever. Love to know your opinion. Do you like this pic? Now remember, 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 talked about here on Rich TV Live. Always invest in the best, the best is blessed and you deserve the best. If you liked this video, please smash the like button, comment down below, share the video everywhere and subscribe. So let's talk about the pharmaceutical industry. The company and its respected scientific advisory board believes that the active compound, muscle mole, and our unique extraction process has great potential and helping people suffering from depression, anxiety, addictions, and more. Led by Professor David Nutt, the team has commenced R&D to further explore these opportunities with the goal of positioning PSYC psych wellness as a major player in the pharmaceutical industry. Don't you guys love getting into these giants first? Don't you love looking into the future and looking into a company that has the potential to be a giant and we're getting in early? So let's look at some comparable psych wellness limited when you look at them and you compare them to Champagno brands and you look at their market cap of 75 million. You look at the psych wellness market cap of 30 million. Look at flourish mushroom labs market cap of 12 million which is currently private. You look at numinous wellness who's got a market cap of 190 million and look at mind medicine who's probably the biggest was the first psychedelic stock that I ever brought you guys and has been over a 15x up over 1500% and they are now in focusing on clinical trials for the medicinal space. They are public with a 1.2 billion market capitalization. So when you look at psych wellness their operational focus is in branded products similar to Champagno brands and their market segment is health and wellness also very similar to Champagno brands and they're actually no longer the RTO is no longer in progress they are actually fully public now. This is the management team Jeff Stevens is the CEO looking forward to speaking to Jeff Stevens I believe I'll be interviewing him tomorrow stay tuned to that very excited about meeting the CEO you can see the COO and CFO as well let's just read a little bit about Mr. Stevens Mr. Stevens has 20 plus years of capital markets experience has been an officer and director with several public companies has taken three public companies via reverse takeover built teams and structured multiple M&A transactions while building successful businesses I like it I like a management team with a track record of success in the markets because this is an industry where if you do not have success and you don't have experience chances are things are not going to go your way you can see the board of directors and you can see the advisory board so they put together a big team and we see their capital structure this is going to be updated now that they just raised 6.6 million dollars and you can see Jeff Stevens is the CEO and director that you can contact if you have any questions now I'd love to know if you guys have any questions if you do please put them in the chat I think that the upside for these guys is tremendous and we're still just getting early to the story this is my medicine you can see that they've been an absolute rocket and I'm personally buying a lot of psychedelic stocks personally I am buying a lot of psychedelic stocks if you'd like to learn which picks I own and which picks I'm buying you can join our trading club at richpicksdaily.com where you can learn what I'm buying and what I'm investing in and I've actually personally invested in just recently three psychedelic stocks so very bullish on psychedelic stocks and this is a new one that I'm now looking at for the very first time for our community and for our club and I'd love to know what you guys think currently a 51 cents and down 16% on news that they just raised money at 31 cents so I'd love to know what you guys think about this one do you own this are you interested in buying it are you considering buying it are you watching it are you adding them to your watches are you putting them on your radar love to know what you guys are planning to do with psyched wellness you're gonna hear a lot more from me about this company I believe it's just getting started and you can clearly see that I mean this has gone from 10 cents in November to a high of 75 cents so obviously it's trending up and they just raised 6.6 million and you're gonna see typically with small cap companies they're going to go up, go down typically if you have a tight float they're gonna go up and then they're gonna raise money and then once they raise money you're typically gonna see them drift down a little bit and a lot of times they will go down to the price that they raise capital at and then after they trade at that price for a little while typically what you'll see after a little while after the selling gets done and people have stopped selling at those levels you'll typically see they're gonna move higher because now the company's got more money to execute their business plan and assuming they do execute their business plan and they do everything that they said they would typically you will then see the stocks go up higher but when they are raising money for the first time and they're raising a lot of money and there's a lot of new shares being issued some people are gonna look at that as dilution so some of the people that got in at 75 cents they see news like this maybe they got in a 10 cents and they're thinking okay I'm gonna sell if it goes a little bit lower I'll just buy it again this is the way people think when they're in the markets Carol says I own it and I'm looking to scoop more hey thank you for your feedback Sam says cherry on the top it's down today good time to buy the dip yeah but you don't wanna chase a falling knife so if you see something's falling what I would do is I would go to the one day chart or even the five day chart and I would look at the five day chart and if you see something's falling aggressively what you wanna do sometimes is just be patient just be patient don't rush anything there's no need to rush anything that usually doesn't end well so what I typically would do is if I saw something's really heavily falling I would be a little bit more patient and I would kind of look at it and say well let me see what it's gonna do maybe tomorrow does it go down further? does it turn up tomorrow? if it turns up then maybe the sell-off is done so it's very difficult to predict what's gonna happen tomorrow but you can see that this is going up now it's coming down a little bit right here you can see that it's making big moves up and then retracing and then making the next big move up so the question is does it continue down this path right now on this big retrace further or do we see it bump up from here? my opinion is we could see it go down a little further before another move up so we'll see that's kind of what I'm thinking and the only reason why I'm saying that is because it's down 16% so I can't predict that oh it's gonna go up tomorrow I don't know that for sure so as an investor you wanna make sure that you're making good sound investment decisions you don't wanna chase something just because it's down you wanna make sure yeah I wanna buy it as low as possible I wanna buy in a dip, I wanna buy in the red we also wanna make sure that you're getting the lowest price possible and if you're just gonna buy the first dip what happens if it dips further tomorrow? So jumping in immediately can be considered risky now I'm not telling you what to do I'm not gonna tell you what price to buy anything what price to sell anything what to buy and what to sell I don't do that okay I'm not licensed I don't do that here all I do is try to find you undervalued underappreciated, under exposed companies before they explode and clearly this has gone from 10 cents to 50 cents so this is obviously trending up and like I said it's coming down from the high that it hit at 75 just recently and it's right now sitting at 51 so the trend is still up clearly the question is do we see a little bit more of a pullback and a little bit further consolidation and dilution and selling and selling pressure before the next leg up or is this the dip and does it start to move up from here? Left to know what you guys think Amara says, UPI crazy jump thanks Rich you made me a lot of money hey my pleasure whatever I can do to help the people that's what we do and it's a lot of doing this right looking at stocks identifying the bottoms identifying the dips reading the news doing the analysis understanding the share structure understanding what they do and then trusting in your research and typically when we do that we have good results obviously the market is red today we're having a big red day so there's a lot of red everywhere there's not a lot of green so this is a day where there's a lot of buying opportunities this may be a day for you to start positioning yourself in certain picks this could be a pick that you might want to put on your watch just to put on your radar it is dipping big it's down 16% a lot of people like to buy on dips like this but in my opinion if I was looking to buy this I kind of want to see what it's going to do tomorrow first before I position myself just because I don't know what it's going to do tomorrow it was just up it just raised money took a big dip today and either it's going to bounce back up again tomorrow and people are going to say this was the dip they were waiting for or it might dip a little further but one thing is for sure is we're going to be watching it in our club and I'm going to let everybody know what I think Hey Anna, how are you doing? What do you think about site wellness? Harold says it's been a fantastic buying day in the markets today Yeah, I mean we like to buy in the red and we like to sell in the green so this is clearly a day to buy I bought a lot today if you want to know what I bought you can join our trading club and get access to all my trades all my buys and all my sells didn't sell anything today not interested in selling in red I buy in red, I sell in green I stay disciplined in my approach and I don't stray Okay, thank you guys for your time today put site wellness on your watch list put on your radar I think there is some huge huge potential for this company this is their website psychedwellness.com we create organic, natural and lab tested mushroom products to promote the health and wellness of millions of people worldwide so love to know what you guys think give me your feedback comment down below share the video everywhere and subscribe another pick that I'm bringing you guys first psyched wellness PSYC in Canada PSYCF in America and let's see here and in Frankfurt, Germany 5U9 stay tuned I will be interviewing the CEO as early as tomorrow stay tuned and I will be back later today live at market close with a very special guest stay tuned and we'll have some big breaking news as well so get your guys popcorn ready you're bored rich, you must be live bringing you another pick that I think you need to put on your watch list and put on your radar psyched wellness PSYC in Canada PSYCF in America and 5U9 in Frankfurt, Germany have a nice day is your bored rich, you must be live and I'm out, peace