Just got off the phone with Barry.
S3 - Could take a year to get signed off on due to infancy of industry, and the size of financing, so council recommended the pull it and file an s1 because they ahead had an s1 approved. Barry also explained they can't file the s1 without withdrawing the s3. IMO it was a mistake to apply for the s3, and why council didn't step in before they filed is really unknown as Barry didn't have that info. The company is new and this was likely just an error. If they could go back, they would have just filed an s1 and waited for the industry to mature more before asking the sec to sign off on an s3.
We should see an s1 filing soon.
Crossing the green line. Barry had no more info than me. Basically there is nothing stating they have changed their stance and will touch the plant without federal law making mj legal to grow. He is going to reach out to DP and confirm and will let me know if he can comment further.
CBD extraction in 60 days. Goes along the lines of green line stance. I asked Barry if he could ask DP to clarify his comments about this at weedstock as reported by others on this board, and if true, ask how they will go about this. My guess if true, they will rent/lease out the lab to a third party they trust to do a quality extraction that they can then use to supply to partners. IMO a thc extraction is likely not going to happen until federal law changes, in that trtc could purchase the end product to fill pens. CBD is legal to possess federally, thc is not. Maybe a partner that was leasing the lab could do a thc extraction and pay for the use of the lab, but trtc would not handle the thc product or plant in any way. Just imo, but I'm hoping Barry gets more clarification on the weedstock comment and the green line stance so we can have a stronger connect the dots, or just clearer info of what DP was communicating so we can get some string arms around some of the speculation going on. For now, based on my conversion with Barry, he has no info on any change in trtc stance around when they will touch the plant directly.
Once I hear back, I will share what I can.
Although this puts a lid on some of the speculation, I have confidence I have a better understanding of what's happening and that my train of thought on this so far is correct.
On a positive note, Barry indicated there is a lot more news in the pipeline and we should be looking at a temporary correction. I expect him to spin things positive, but he was candid and agreed on a few issues I raised, and by his tone I tend to believe him.
I'll be holding strong for now. I trust Barry to follow up and take my concerns back to trtc and get back to me on any open questions he can comment on.
I'm not as good a write as some on this board, but I hope everyone reading finds this post helpful. GLTA.
AI
