He seems to be ignoring the elephant in the room. Regardless of whether or not the FDA issues a nicotine ceiling rule this year or next year or in ten years, why isn't VLN getting approved as a stand alone product and put on the market?
I never expected a nicotine mandate, that's too heavy a lift. But why we're not competing straight up against other ciggies world wide is a mystery. So, yes, anything will be more profitable than ciggies that can't be sold or won't be sold until there's an FDA ruling. Which, I think, will be never.
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