PAO Group Inc (PAOG)

[Erbmanus]

Last night's talk with IR

Good morning! So I mentioned that I got a call back from IR. Adam wasn't able to tell me a whole lot I didn't know. Most of my calls prior were before my road trips, and I was able to get my own answers first hand, so I didn't have those questions any more. I was absolutely unprepared for the call lol

I asked some specifics about southern florida and how it compared to northern florida as far as will Dr. Schmidt be building out in the same was the Dr. Bernards is, but he couldn't really go into details. Most of my remaining questions were pretty specific, and therefor couldn't answer. Most of my web suggestions / questions were overly technical, and he wasn't sure (not his fault, happens to me everyday when I leave my department) but he wrote down notes and said he would bring them to the devs they have working on it.

We did get a minute to talk about Missouri and how it fits in the plan. It's on the radar, but as our laws suck and will be a while before we can get new legislation going, we're not exactly at the front of the line. The plan to hit more states is in full effect though. If you want to figure out how they are going to expand, my suggestion would be to check out the NORML website so you can see what laws are changing where. They will be taking the path of least resistance to the largest untapped markets as they arise. We have already in the case of Sandusky, seen that they were clever enough to choose a location in a virgin state that can make use of neighboring states existing infrastructure (Michigan).

Not only that, but it looks like they are doing the opposite in Jacksonville, where a side effect of their presence is that when Florida is up and running, southern Georgia patients will likely benefit from Floridian infrastructure, the same way the people in Sandusky are from Michigan, since they are working on reciprocal laws as well. So come on Illinois, get it in line so we can leach off ya over here!

One thing that was very nice as it was the first time I got to talk to Adam, and was that it was at 7:09 CST, so it's not like these guys are nine to five'n it over there. Another thing that was nice was a couple times Adam said, "yeah in my notes..." or words to that effect when referring to my previous messages, and was then able to speak to those points, mostly related to Mo as I am pretty happy with the info I have on the existing locations. So even though I wasn't getting a phone call back, they were getting my messages.

I did ask if there was going to be an Investor kick-off party, or tours of the facilities, but it is not on the schedule anywhere. I could hear in his voice, it was very similarly to when an employee I like asks for something, albeit cool, not really necessary for work, and FAR from "eye on the target", and I have to basically say, "work first, play later". I can handle that. They are just a tad busy lol.

All in all, despite me not being prepared to throw out new questions, it was a great call. I was already sold after my trips, so this was really just icing on the cake. Keep up the good work NWAV.