Can I Sign Nevada Banking Presentation

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this is green thumb industry is a short analysis today i'll discuss how they make money or their business model footprint or operations i'll touch upon management and i'll discuss valuation and catalyst but before we begin here's a disclaimer some of you may think i'm a smart guy others may think i'm a smart ass but i am not a financial analyst and i'm not here to tell you what to buy this information expresses my opinion and my opinion alone this is not a recommendation to buy or sell a stock i suggest you use this analysis part of your study but perform your own due diligence prior to investing in addition i do own a good number of shares of green thumb industries it's made me very happy and i will try to be as unbiased as possible how does green thumb industries make money well it's vertical integration that's how green thumb manufactures distributes and sells cannabis products for medical and adult use in the united states laws for the industry vary from state to state some states like florida dictate that marijuana companies have to run vertically integrated operations while others like california don't developing a multitude of small to large companies now green thumb operates in 12 states and they are subject to a variety of laws that can enhance or limit their operations the green thumb takes advantage of vertical integration everywhere they can the company controls the entire supply chain throughout the life of the plant they plant the seed grow it in their own cultivation facilities process it into various forms package distribute and sell branded products to cannabis consumers this ensures minimal waste tight operational controls and it shows with a quarter over quarter increase in same store sales as high as 65 percent today it is one of the top three marijuana companies in the world enjoy the video [Music] [Music] not listen to me hi carl thanks for having me uh your comps are running uh 65 percent uh and and i'm wondering how planning for you changes now after what we saw on election night uh yeah no surprise to us uh there is universal acceptance of cannabis as a means for well-being across the country as you mentioned for us we did 157 million in revenue and positive free cash flow positive net income and really stepping back like you mentioned in the intro we see cannabis as a massive new industry in the united states we think this is the next great american growth story and it's here for everybody to see there's a decade ahead of twenty percent compound annual growth rate how is it that sg a has been running roughly flat i would imagine if you're going to keep up with that growth it's going to cost something it definitely is going to cost something it's not going to stay flat there's some anomalies in the depreciation but it is scaling we look at the cash sg a there's definite leverage but it will ramp up we've talked about it but it won't ramp at the pace of revenue revenue is a symbol and is a reflection of the demand there is a tidal wave of demand for well-being and well-being through cannabis you saw it in the green sweep it is happening every day that's what's leading to the 65 comp stores uh these are dramatic that is not happening uh in consumer retail and it's happening for cannabis because consumers are choosing it so should investors be thinking about this uh the picture you paint if not another state were to ever legalize i mean is volume going to grow from the existing base or is it really a a bet on either national or further state legalization or something external something international for example it's not international it's right here in the united states and it's both it's in the current states illinois ohio pennsylvania new jersey maryland connecticut massachusetts florida nevada california these are all the places we operate there's a massive industry that's half of the country by population so we don't need new states the business is on its way to being over a billion dollars but it's right here in the united states and it's very important to understand that it's u.s operators and it's not foreign operators doing a similar kind of business ben it's leslie picker here you mentioned a whole host of states that are facing some budget constraints especially as it pertains to the pandemic which has in a lot of locations has has really stretched their budgets to the limit are you speaking with any any lawmakers in certain states who are turning to cannabis legalization as a potential revenue driver we've seen that kind of come to fruition especially in the gaming sector uh with casinos and so forth do you expect the same to take place with cannabis 100 percent uh it's on the docket right now right it's being talked about when new jersey passed adult use that means it'll be legal for an adult 21 or over to buy cannabis in the state of new jersey regardless what happens federally governor cuomo asked the state of new york to legalize governor lamont in connecticut is talking about it we have one of four licenses in connecticut we have one of the 10 licenses in new york and governor wolf in pennsylvania has been loud about it they want the tax revenue we are the a massive growth engine hiring people putting in hundreds of millions of dollars of capex in places where there are no jobs so it is happening 100 and you mentioned a great parallel uh online gaming we think of it as very similar and there's several popular online gaming right and you talk about things like sports gaming and gambling online similar to medical and adult use and the bottom line is it's complicated these are state-run regulatory bodies this is what happens as markets legalize and if you look at the metrics to our business versus those it's quite dramatic it sets up very well for the investors watching it's a very interesting time to enter the space because people want jobs states want tax revenue people want well-being they don't want overdoses from opioids they don't want painful hangovers and there's several other positives from cannabis shepherd smith here thanks for watching cnbc on youtube management and insiders ben kovler the ceo is a strong leader he's managed complex companies in the past he is one of the uh media outlets go to executives as you saw in the previous slide he's regularly featured on television now ben didn't come from a marijuana background but he doesn't know the industry well and he is an excellent representative for the company a little side note his family founded the jim beam company back in 1941. so he knows a little a thing or two about sin stocks but mr kovaler is not the only talented executive in the company we have plenty of executives that possess great resumes and the skills take us to the promised land executives that have worked for general mills heb which is a private company from the southwest which is i wish would go public so that i can buy their stock and gomez goldman sachs if you take a look at the graph on the right you'll see the share breakdown individual insiders own 15.6 percent of the company ben cobler owns 18 million shares plus that represents about 8.5 of the company he is vested in what he's doing most of the institutional investors and banks can't invest in the space yet not until it's legalized or we uplift to nasdaq and uh the new york stock exchange and we can't up this until it's legalized anyway in the photos below you'll see ben kovler in an invest for kids function i believe it's a an organization that he co-founded he's a philanthropist and on the right side is a photograph of the rise dispensary i mean in illinois one of the rice dispensaries there i believe that was taken and taken during uh uh the first few days after uh recreational opened up next slide valuation and catalysts greenfield's price is a little above thirty three dollars a share in march of last year it was selling for a little less than five dollars today's price represents upwards of seven times that money the price to book is seven times price of sales 13. enterprise value to ebitda is about 47. last quarter the company sold 157 million dollars worth of product which represents 131 year-over-year the company's profitable i believe at 37 million that was the net and they have of course positive cash flow now it's the stock has risen quite a bit over the past year but i don't think it's overpriced you have to consider the period it's in in the industry uh you have to consider the investment investing environment the growth rate cash flow and profitability as i mentioned and the fact that these guys are good stewards now marijuana companies cannot conduct regular banking practices get loans low interest rates and they have to function under 280e when that changes green thumb industries as some of the other top marijuana companies are going to do quite well and that's just around the corner during 2021 the tax code is going to change so they're going to be able to conduct normal business like any other business congress is going to pass rescheduling decriminalization and as i speak politicians are debating in earnest how to legalize this industry and how to impose regulations there will be interesting commerce so we're just at the beginning here and this company is projected out to about 800 million dollars of revenue next year i think it's going to be closer to a billion dollars now these laws are going to take time to implement so companies like green thumb industries they're going to benefit the most they'll be the first to receive financing at good rates and they won't be penalized by draconian tax code this company will rise to the top it will be the cream of the crop what do pumpers say yeah to the moon baby right that's what they say i benefited from holding this stock a long time and i'm looking to a pretty hefty price stock price by february 2022 about 200 a share that's just my opinion enjoyed this presentation if you found it interesting please 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