Blum Holdings Inc (BLMH)

[IndustryParticipant]

I wouldn't agree, and there are various reasons why this statement is not correct, let alone a "fact".

Another fact, the cost per pound of all types of cannabis dropped faster than many had thought, sucking the wind out of grow operation value. However vertical structure can mitigate some risk, thus why TRTC and many others are now, seed to sale/clones, to production, to wholesale, to retail. It's like normal business, and could be MONSTER once treated like a normal business.

1. Which market are you referring to as they are all quite different.

2. Which operation(s) are you referring to, as they are also quite different, even those within the same market.

Every state and program is different, every market is different, every operation is different.

Many, including operators themselves sometimes fail to understand the above. We have cultivation's that consistently maintain a higher demand and price (highest quality), and we have dispensaries that people go far out of their way, passing sometimes a dozen others to come to. Regarding the latter, interestingly enough, those decisions are made due to the staff and customer service.

Just because one has either, means absolutely nothing. The same can be said of vertical integration. Just because it exists does not necessarily mean or guarantee any specific aspect if either or both are lacking in 500 different ways.