►
Description
CNC provides asset based financing to the cannabis industry; we specialize in account receivables financing/factoring and are adding equipment financing to our service offering. Traditional financial institutions and service providers have not offered their standard asset-based lending (ABL) services to the cannabis industry due to the inability of their current underwriting process to assess and mitigate risk.
Host:
Forum - juanjuan
Chat - juanjuan
Pep:
Forum - Pep_Ruckpanich
Email - pep@capitalnowcannabis.com
CapitalNow Cannabis:
Website - http://www.capitalnowcannabis.com/
A
Hi
everyone
welcome
to
another
maker
collateral
call.
My
name
is
juan,
I'm
the
facilitator
from
the
sustainable
ecosystem
scaling
core
unit
and
yeah.
Today,
it's
august,
the
18th-
and
we
are
here
joined
by
the
team
of
capsule,
now
cannabis.com
and
well
leah
from
centrifuge
and
we're
going
to
be
discussing
their
mipsix
application
and
anything
that
has
to
do
with
their
with
their
company
and
so
yeah
without
further
ado
that,
if
you
want
to
take
it
away
and
present
your
team,
maybe
yep.
C
We
started
this
business
20
years
ago
as
a
general
factoring
company
providing
operating
capital
to
small
businesses
across
canada,
we've
deployed
and
transacted
well
500
million
dollars
in
20
years,
but
it
was
small
invoices,
so
that
was
actually
over
85
000
discrete
transactions,
and
over
that
time
our
historical
loss
rate
has
been
pretty
low.
It's
been
about
0.5,
the
industry
standard
is
about
three
times
that
amount.
C
C
C
So
capital
canvas
was
developed
specifically
for
the
legal
cannabis
industry
operators
in
canada
and
what
we're
doing
when
we
purchase
invoices
purchasing
an
asset,
is
it's
debt-free,
debt-free
financing
and
that's
what
we
were?
Sorry,
that's
our
specialty.
So
far,
we've
got
about
two
years
of
research
into
the
cannabis
industry
in
canada
and
we
spent
hundreds
of
hours
on
the
phone
with
industry
operators
and
we've
learned
a
great
deal.
C
D
Josh
hi
good
morning,
everybody,
my
name,
is
joshua
reynolds.
I
am
the
co-founder
with
jerry
and
pep
and
and
natalie
and
president
of
capitol
now
cannabis.
I
think
in
this
section
you
know
we
really
want
to
focus
on.
You
know
why
the
cannabis
market
and
how
could
decentralized
finance,
be
the
tool
for
unlimited
growth
and
potential
in
this
industry,
and
I've
been
thinking
about
this
question
a
lot
lately
about
you
know
what
the
role
of
finance
is,
and
you
know
the
equipment
and
what
it
can
do.
D
But
I
think
the
really
important
part
of
what
we're
building
out
here
is
the
human
element
and
the
opportunity
for
really
changing
the
direction
and
growth
you
know
globally,
but
starting
here
in
canada,
so
the
whole
idea
you
know
from
d5,
was
being
able
to
lend
to
people
that
didn't
have
access
to
regular.
You
know
rather
regular
opportunities
and
that's
perfect
for
cannabis.
Cannabis
has
had
a
long,
long,
long,
road
to
get
to
legalization
in
canada
and
globally
and
and
it
and
the
battle
has
been
so
hard.
D
But
what
ended
up
happening
is
a
lot
of
these
guys
created
a
community.
The
community
was
always
there,
but
it
got
stronger
and
stronger
as
these
business
people
grew
and
what
jerry-
and
I
like,
he
said-
spending
hundreds
of
hours
talking
to
all
of
these
different
companies
across
canada.
You
know,
I
think,
about
the
relationships
that
we've
gained
with
them
and
some
of
the
struggles
they've
had
to
do,
but
but
the
bigger
thing
is
as
to
why.
Why
did
they
get
into
this
business?
D
This
entrepreneur
is
just
incredible.
You
know
she
worked
in
the
oil
patch,
which
is
a
big
thing
up
here
in
canada,
and
her
father-in-law
got
brain
tumors
and
her
husband,
being
cannabis.
Users
decided
to
figure
out
a
way
that
they
could
help.
You
know
create
an
oil
for
him
to
improve
his
his
the
rest
of
his
life
and
then
her
daughter
has
cystic
fibrosis
and
that
same
oil
was
able
to
help
help
him
or
permeate
help
her.
D
You
know
they're
highly
taxed.
They
went
through
incredible
amounts
of
security
to
get
their
licenses.
They
had
to
go
to
friends
and
family
to
raise
all
the
money.
You
know
a
few
accredited
investors
helped
out
down
the
line
and
then,
of
course,
pubco's
got
a
you
know
got
involved
at
certain
points,
but
a
lot
of
these
people
are
still
unable
to
even
get
bank
accounts
like
to
even
get
a
bank
account
for
savings,
and
checking
has
been
very
difficult
for
these.
D
So
when
jerry-
and
I
started
really
getting
to
know
these
people
and
got
into
the
you
know
to
the
alternative
financing
through
factoring
for
these
people,
we
discovered,
along
the
way
that
I
think
I
would
say
90
of
the
calls
somebody
would
bring
up.
We
need
access
to
equipment
financing.
We
need
this
opportunity
to
be
able
to
grow.
Our
business
grow
the
market
not
only
just
here
in
canada,
but
eventually
globally,
and
that
was
the
thing
I
thought
about
today.
D
Is
that
being
able
to
enhance
the
equipment
financing
with
our
already
services
by
using
both
maker
and
centrifuge,
is
such
a
huge
opportunity.
We
could
be
helping
small,
really
educated
people
who
really
believe
in
the
community
and
making
a
difference
through
cannabis,
as
opposed
to
opioids
and
other
pharmaceuticals.
D
You
know
we
could
be
helping
these
people
with
a
piece
of
equipment
or
extraction
equipment.
They
could
quite
literally
change
the
world.
You
know
jerry
and
I
had
a
conversation
with
an
equipment
manufacturer
about
five
months
ago
in
eastern
canada
that
built
a
piece
of
extraction
equipment.
They
could
take
a
thousand
kilos
of
biomass
flour
and
extract
it
down
to
one
liter,
a
product
that
sells
for
one
million
dollars
this
one
liter
of
product
sells
for
a
million
dollars
and
it
is
going
to
go
to
research
to
help
improve.
D
I
see
a
lot
of
similarities
between
decentralized
finance
and
the
way
that
it
wants
to
move
the
world
forward
and
the
way
that
cannabis
wants
to
get
away
from
the
previous
stigmas
to
what
this
product
could
really
be,
not
just
here
in
canada,
but
eventually
globally,
and
if
you
want
the
next
slide
there,
you
know
so
just
to
give
you
guys
a
little
bit
of
the
background
so
in
canada.
Right
now,
it's
been
federal,
federally
regulated,
not
provincially,
federally
regulated
here
in
canada,
since
about
2018..
D
There
are
currently
over
700
licensed
producers
in
in
canada,
there's
about
twenty
three
hundred
dollar
or
twenty
three
hundred
stores
that
are
retail
stores.
So
there's
obviously
a
couple
different
components:
the
way
things
work
in
canada,
you
know
you've
got
pre-distribution
and
then
after
distribution
goes
to
the
retail
stores,
which
is
you
know,
basically
recreational.
D
D
We
currently
only
operate
in
canada,
and
we
do
that
because
of
the
fact
that
it
is
such
a
high
barrier
to
entry,
it's
safe
to
do
business
here.
We
we
understand
how
the
taxation
works.
We
understand
how
the
health
canada
operates,
and
you
know
for
people
watching
here.
You
know
to
get
security
clearance.
You
have
to
go
through
the
rcmp,
which
is
the
royal
canadian
mounted
police
which
is
dissimilar
to
you,
know
the
fbi
in
the
united
states,
so
everybody
involved
is
really
scrutinized.
You
know
to
be
able
to
produce
this.
D
D
B
B
I
know
how
serious
it
gets
in
the
us
coming
from
thailand
and-
and
it's
simply
not
worth
it
for
us
to
to
put
our
personal
lives
at
risk
with
u.s
laws,
and
there
have
been
cases
where
canadian
executives
in
the
cannabis
industry
cannot
go
into
america
simply
because
they
work
for
for
a
cannabis
company.
So
we
we
took
a
deep
dive
into
into
the
revelation
side,
but
one,
I
think,
a
quote
on
on
the
right
side
of
the
screen.
B
So
you
know
to
just
to
come
to
to
make
it
clear
to
everyone
that
you
know
at
no
point
were
any
cannabis
companies
even
regulated
cannabis
companies
in
canada
and
any
of
our
clients
be
interacting
with
dye.
I
think
that's
that's
an
important
point
to
make
because
they
will
be
dealing
with.
You
know
the
normal
currency
that
they
use,
which
is
the
canadian
dollars.
C
The
transactions
are,
are:
are
there
they're
transparent
when
you're
looking
at
accounting,
sometimes
you're,
looking
at
somebody's
version
of
events
rather
than
the
actual
transactions
we
also
for
most
of
the
equipment,
borrowers
will
be
maintaining
a
dominion
over
their
ar
which,
in
other
words,
means
that
we'll
have
control
over
their
incoming
payments
their
incoming
revenue.
This
is
an
extraordinary
step,
but
I
think
it's
it's
it's
a
good
one
to
to
use
some
manufacturers
that
we've
talked
to
I've
already
committed
to
doing
buybacks
of
certain
types
of
equipment.
C
So
the
concern
about
being
able
to
sell
resell
repossessed
equipment,
for
example,
is
being
mitigated
by
the
participation
of
some
of
the
manufacturers
and
we're
also
going
to
life
and
disability
insure
the
loans.
It's
something
that
has
to
be
offered
on
loans
in
canada
and
one
thing
in
general
about
equipment
in
cannabis
industry,
as
much
of
it
actually
is
usable
in
other
industries.
So
packaging
equipment,
for
example,
can
be
used
in
any
number
of
different
industries,
and
so
there's
already
a
secondary
market
established
for
some
of
the
generic
equipment.
C
On
the
invoice
side.
What
we've
been
doing
so
far
is
buying
invoices
payable
by
bank
quality
companies,
but
the
majority
actually
is
we're
purchasing
receivables
payable
by
the
canadian
provincial
boards
themselves,
so
that
addresses
the
typical
credit
risk
that
we'd
look
at
in
how
it
works
is
the
finished
goods
get
sold
to
the
provincial
board
for
wholesaling
and
distribution,
so
the
provincial
government's
in
all
the
two
provinces
would
pay
the
producer,
the
finished
goods
directly
and
with
our
involvement
we
get
paid
directly
by
the
by
the
boards.
C
We
have
many
of
the
same
miscriticized
risk
mitigation
processes
in
regular
factoring.
We
only
advance
up
to
75
of
the
invoice
value,
so
there's
some
equity
there.
We
monitor
the
bank
accounts.
We
have.
We
do
receive
the
payments,
we
have
the
minion
over
the
cash.
This
has
been
very
effective
for
us.
There
are
extraordinary
steps
in
here
that
most
factoring
companies
don't
take
that
have
very,
very
much
helped
our
our
bottom
line
for
risk
next
slide.
C
What
I
like
about
it
is
it's
highly
liquid
and
it
keeps
turning
and
you
can
move
in
and
out
of
participating
with
the
client,
as
as
you
go
along
they're
easy
to
disengage
from
as
well
on
the
equipment
side.
We
surveyed
our
database
and
the
people
that
responded
think
that
they're
looking
for
approximately
430
thousand
dollars
worth
of
equipment-
and
these
are
companies
that
are
upgrading
their
facilities.
Very
few
of
them
were
actually
new
companies
operating
companies.
C
We
think
the
loans,
the
loans
range
will
range
from
one
to
three
years
and
yeah
and
the
there'll
be
low
cash
drag
because
we'll
only
be
requesting
funds
for
specific
deals.
So
the
next
slide
in
the
chat.
So
in
the
pool
we
see
three
types
of
assets:
one
is
invoices
to
provincial
boards.
As
I
was
saying,
returning
15
equipment
loans,
typical
average
term
18
months,
12
return
and
the
third
asset,
which
would
be
the
minority,
is
when
we're
buying
from
non-government
entities.
C
C
B
So
this
is
the
proposed
structure,
so
we'll
be
setting
up
an
spv
that
will
be
holding
the
underlying
assets
and
collateral
and
yeah.
That
would
be
the
entity
that
will
also
be
offering
this
10
and
drop
tokens
and
the
minimum
10
buffer
will
be
10
and
we're
proposing
for
we're
asking
for
a
20
million
dollar.
B
20
million
die
vault
and
increasing
to
35
million
when
75
percent
of
it
is
used-
and
you
know
the
spd,
as
you
guys,
most
of
you
guys
probably
already
know,
is-
is
set
up
so
that
you
know
it's
remote
and
it
and
the
investors
medicaid
the
token
holders
who
have
the
rights
to
liquidate
assets
in
case
of
default
and
working
with
maker's
guideline.
The
sbb
will
also
have
an
independent
director,
for
which
will
also
give
investors
additional
protection.
D
I
swear
about
that
yeah,
so
there's
two
things
I'd
like
to
add
to
that
are
that
are
really
important
to
what
we
just
talked
about
the
first
one
being
is
one
of
the
reasons
why
these
equipment
manufacturers
are
very
keen
to
participate
in
a
buy
back
program
with
us.
If
we
were
to
be
able
to
offer
financing
is,
is
twofold:
one,
a
lot
of
them
have
proprietary.
D
D
Second
thing:
that's
really
important
that
I
really
want
to
emphasize
in
here
is
that
jerry
and
I
only
speak
to
people
who
are
licensed
in
canada.
We've
had
conversations
with
pre-licensees
to
find
out
what
they're
doing
and
what
they're
up
to.
But
at
no
point
are
we
lending
or
purchasing
any
factoring.
Nor
will
we
be
doing
any
business
on
the
equipment
financing
side
with
anybody
without
a
license
from
health,
canada
and
without
the
cra
in
place
and
without
the
security
clearances.
This
is
very
important
because
it
is
a
regulated
market.
D
We
want
to
make
sure
that
we're
always
participating
with
regulatory
people,
there's
nobody
from
the
legacy
of
the
gray
market
that
we
interact
with
or
talk
to,
and
there's
no
reason
to
because
canada's
built
such
a
strong
system
out.
So
I
think
that's
really
important
thing.
So
where
do
we
see
the
future
with
this?
Well,
I
think
canada
is
really
interesting
for
us
to
start
number
one.
D
D
You
know
we
had
mark
carney
as
our
our
governor,
our
bank
of
bank
of
canada,
who
went
on
to
be
the
bank
of
england
very
conservative.
The
way
our
banking
is
done
is
very
conservative,
so
we
know
that
building
out
our
system
here
in
canada
being
as
regulated,
it
is
being
as
conservative
as
it
is
and
being
able
to
build
a
business.
D
A
strong
factoring
business
already
in
this
environment
is
going
to
give
us
the
ability
to
scale
globally
and
for
us
we
want
to
focus
specifically
on
commonwealth
and
common
law
jurisdictions.
So
the
future,
where
I
see
it
would
be
australia,
new
zealand,
israel,
germany,
portugal,
spain,
you
know
all
of
these
countries
have
incredibly
strong
legal
systems.
You
know
factoring
is
commonplace
for
them
all
throughout.
You
know
all
throughout
europe
and
through
asia.
So
we
know
we're
not
going
to
be.
D
You
know,
breaking
down
any
any
difficult
barriers
there
they're
going
to
understand
that
practice
already.
You
know
to
be
blunt:
we
don't
have
a
lot
of
keen
interest
right
now
in
the
united
states
or
other
countries,
and
we
do
get
inquiries
from
other
countries
and
we
we
let
them
know
right
away
that
we're
we're
not
looking
to
expand
there.
D
Talking
about.
You
know
our
investor
pool
and
the
family
offices
that
we
deal
with
currently
and
raising
money
here-
and
you
know,
works
for
us
here
in
in
in
canada.
But
when
you
go
to
australia,
it
would
be
wonderful
to
just
be
able
to.
You
know,
engage
with
these
companies.
Put
our
processes
in
place
knowing
that,
through
decentralized
finance,
that
the
pool
is
there
it's
ready
to
go
for
these
people.
D
You
know
they
don't
have
all
of
these
obstacles
that
you
know
that
they're
gonna
face
once
they
when
they,
when
they
hit
legalization,
and
we
can
kind
of
speed
up
that
process.
Just
simply
because
of
everything
we
learned
here
in
canada-
and
you
know
I
can't
emphasize
that
enough-
is
that
you
know
we.
We
really
appreciate
the
fact
that
we're
in
canada
and
the
way
that
you
know
there's
been
obstacles,
obviously,
but
the
way
that
they've
rolled
everything
out
and
the
way
that
it
has
been
so
you
know
so
you
know
compliant.
D
You
know
from
a
legal
standpoint
has
been
to
our
benefit
and
we
want
to
be
in
these
environments.
We
want
to
be
in
heavily
regulated
environments
for
risk
mitigation,
obviously,
but
also
to
for
our
own
comfort.
You
know
we
we
want
to
be
successful
all
over,
but
to
do
that,
we
really
have
to
be
in
these
kind
of
countries
that
that
understand
what
the
opportunity
is
for
me.
Personally
speaking,
you
know
I'm
having
a
lot
of
fun
doing
this.
D
I
learned
something
new
every
day
jerry
and
I
have
never
had
the
same
phone
call
twice.
It's
an
exciting
business
to
be
in
these
people
are
so
passionate,
just
incredibly
passionate.
I
wish
that
I
could
have
brought
a
few
of
these
people
on
this
call
so
that
they
could
show
you
how
brave
they
are,
but
how
committed
they
are
to
this
growth
into
this
opportunity,
and
and
for
me,
that's
a
really
exciting.
D
It's
really
exciting
to
be
a
part
of
this,
and
I
feel
strongly
that
you
and
your
teams
would
also
be
really
proud
to
be
a
part
of
this
interest
industry
and
be
a
game
changer,
because
you
know
not
to
be
altruistic,
but
I
do
think
that
we
are
going
to
have
the
opportunity
to
change
the
world
by
doing
what
we're
doing.
This
is
not
just
a
regular
finance
business
play.
This
is
about
real
opportunity
for
growth
globally.
B
E
Yeah
yeah
first,
thank
you
for
coming
on
and
making
this
presentation
to
the
maker
community.
This
is
definitely
a
field
where
you
have
to
be
passionate
right
and
most
of
the
people
that
are
in
it
are
passionate,
so
it
does
resemble
a
little
bit
of
crypto
and
the
passion
that
comes
from
crypto,
I
think,
can
resonate
with
your
community
as
well.
I
just
wanted
to
go
over.
You
mentioned
that
you
monitor
some
of
the
maybe
I
misunderstood,
but
you
monitor
some
of
the
bank
accounts
of
the
borrowers.
E
C
Yes,
so
in
20
years
we've
done
about
85,
000
invoices
and
the
default
rate
over
that
period
of
time
by
volume
is
0.5.
Industry
average
is
1.5
on
so
talking
about
the
bank
accounts.
We
always
monitor
the
bank
activity
of
our
clients,
and
sometimes
we
still
have
to
do
this,
we'll
get
their
bank
statements
and
we
use
that
in
underwriting
and
monitoring-
and
I
like
it
because
these
statements
are
available
in
near
real
time
and
the
data
isn't
interpreted
so
I
can
see
actual
transactions
and
what
they're
spending
their
money
on.
C
And
some
of
the
stuff
that
turns
up
is
frankly
startling.
In
a
way
some
some
small
businesses
treat
the
company
bank
account,
for
example,
but
it
does
give
us
a
good
idea
of
the
people's
priorities,
so
we
have
a
connection
directly
into
their
bank
accounts.
It
works
with
almost
all
the
banks
in
canada.
We
have
a
few
blind
spots,
but
for
those
clients
we
we
get
their
bank
statements
or
screenshots
of
their
bank
statements
on
a
monthly
basis.
C
E
Yeah-
and
I
think
to
opponents
of
you-
know
this
industry-
this
actually
shows
that
you're.
Actually,
you
know
you
got
your
hands
on
the
businesses
that
these
these
invoices
pertain
to.
So
I,
I
actually
think
it's
pretty
cool
in
my
opinion,
and
I
hope
the
rest
of
the
maker
community
can
kind
of
see
the
same,
but
I
also
wanted
to
ask
something-
and
this
is
my
last
question-
I
promise
ocs
right.
You
mentioned
that
a
lot
of
the
oh.
E
You
said
that
eighty-five
percent
of
cannabis
sales
go
through
the
con.
The
provincial
boards,
which
is
ocs,
be
sale
db.
I
believe
so
are
all
these
85
000
previous
invoices,
most
of
them
went
through
ocs
is.
Am
I
understanding
this
correctly
or
this
is
something
that's
going
to
happen
in
the
future
that
you.
C
Envision
that
was
relating
to
track
record
thanks
for
that
our
general
factoring
company's
been
around
for
20
years.
This
is
how
we've
been
able
to
build
up.
You
know
the
experience
and
track
record
so
far
in
cannabis.
It,
the
transaction
count,
has
been
fairly
low
because
we're
just
bringing
clients
on
right
now
and
really
only
started
buying
earlier
this
year.
So
but
the
principles
are
exactly
the
same
factors.
I'm
sorry
factoring
companies,
our
generalists.
C
You
know
for
the
most
part
and
buy
from
multiple
industries
as
we
do,
and
we
still
do
so
cannabis
has.
It
actually
is
very
similar
to
the
oil
field
and
the
province.
We're
in
is
heavily
involved
in
oil,
so
we're
quite
used
used
to
the
way
that
it
operates,
because
oil,
if
you
know
unfamiliar
as
a
high
barrier
to
entry,
because
they
need
a
lot
of
capital
and
equipment,
it's
highly
regulated
and
it's
highly
taxed.
So
the
government
has
very
tight
control
over
that
type
of
production
as
well.
D
Yeah
frank
I'd
like
to
add
one
thing
here
to
your
question
too:
one
us
buying
from
the
provincial
boards.
Obviously
we're
talking
about
double
a
credit
right.
You
know
the
government
pays
their
bills,
which
is
also
something
that
we
you
know
we're
very
conscious
of.
But
the
second
thing
is,
you
know,
to
give
me
a
little
to
give
you
a
little
background.
I've
probably
done
about
15
or
16
000
asset-based
loans
in
my
career
and
a
lot
of
those
have
been
to
companies
or
to
personal
people,
and
I'm
always
blown
away.
D
But
the
other
thing,
that's
really
amazing-
is
their
financials
are
readily
available,
and
that's
simply
because
they
had
to
be.
You
know
from
the
taxation
department
of
canada,
the
cra
being
involved
and,
and
then
security
clearances.
They
had
to
have
all
of
this
paperwork
constantly
on
the
go.
Every
cannabis
company
in
canada
has
something
called
a
qap,
which
is
basically
a
responsible
person
that
any
type
at
any
time
a
regulatory
body
can
reach
out
and
have
a
conversation
with
that
person.
D
A
B
Yep,
so
20
million
died
to
begin
with
and
then
increasing
to
35
million,
and
we
were.
We
were
blown
away
by
by
the
demand
that
we
we
received
from
just
our
existing
customers.
We
already
have
over
25
million
in
in
the
pipeline
for
equipment
financing,
so
we
think
we're.
You
know
it's
not
not
a
promise,
but
we
think
we're
gonna
blow
blow
it
out
of
the
water.
D
So
the
opportunity
to
put
financing
into
this
mix
is
going
to
be
a
game
changer
not
just
for
them,
but
even
on
the
equipment
manufacturer's
side.
We
had
one
one
customer
who's,
a
small
time
equipment,
manufacturer,
she's,
building
an
extraction
machine,
that's
going
to
be
around
a
hundred
thousand
dollars
because
she
wanted
to
be
able
to
cater
it
to
to
the
micro
levels,
which
means
that
if
you're,
a
micro
licensed
that
your
canopy
can't
be
over
2800
square
feet,
I
think
it
is
or
2
500
square
feet.
D
A
standard
license
is
anything
over
that.
So
she
wanted
to
build
a
piece
of
extract
extraction,
equipment
that
could
cater
to
the
micros
at
around
a
hundred
thousand.
She
said
to
us
flat
out
that
if
we
were
able
to
offer
financing
or
be
a
financing
partner
with
her,
her
sales
would
double
and
we
feel
that
that's
going
to
be
pretty
consistent
with
everybody
across.
So
with
pep
being
optimistic,
I'm
optimistic
as
well,
because
the
the
survey
results
we
got
were.
B
Yep,
so
we
would
be
using
you
know
the
traditional
institutional
grade,
swaps
and
and
hedging
between
us
dollars
and
and
canadian
dollars.
So
there
is
still
some
currency
risk
if
guy
doesn't
stay
to
the
to
the
peg,
but
I
think
from
you
know
what
we
have
seen
so
far,
especially
after
you
guys
upgraded
your
model.
It's
it's
pretty
close,
so
we're
not
too
worried
about
about
die
depending
and
then
we'll
be
using
the
swamps.
G
B
B
Even
like
bank
account,
like
josh,
said
they
simply
don't
have
credit
right.
It's
it's
like,
but
but
these
are
multi-million
dollar
companies.
It
costs
you
know
usually
over
a
million
dollars
to
just
get
a
license,
not
that
a
normal
cannabis
license
so
you're
talking
about
real
businessmen
and
women,
not
just
not
just
a
mom-and-pop
store
and-
and
these
guys
are
having
difficult
times
building
credit
which
you
know
being
on
chain,
and
I
think
one
of
the
things
well.
D
I
think
you
know
just
to
add
by
the
way
those
are
really
great
questions
too,
because
the
currency
risk
is
really
important.
It's
something
that
we've
spent
a
lot
of
time
addressing,
but
the
second
thing
to
this
that
I
I
can't
stress
enough.
All
of
these
companies
that
we
deal
with
are
credit
worthy
like
these.
These
are
phenomenal
businesses.
D
You
know
they've
paid
cash
for
their
land,
they've
paid
cash
for
their
buildings,
they've
paid
cash
for
all
of
their
equipment,
I
mean,
and
every
one
of
them
would
be
very
happy
to
put
liens
against
that
property
if
they
could
get
access
to
access
to
a
financial,
a
model
like
what
we're
proposing
here.
So
these
you
know
these
are
very
safe
companies
to
do
business
with
there's
not
a
whole
lot
of
surprises
here.
You
know
they.
They
have
to
report
their
taxation.
You
know
they
have
to
pay.
D
They've
got
so
much
equity
in
their
business
and
in
their
properties
that
this
should
be
a
no-brainer
for
any
bank
on
the
planet.
An
equipment
equipment
labeler,
you
know,
could
be
used
in
multiple
industries,
not
just
cannabis,
and
the
bank
said
no
just
because
they're
attached
to
to
that
part
of
the
industry,
and
they
don't
know
how
to
underwrite
it,
and
they
don't
know
how
to
do
the
risk.
Well,
what
we
do-
and
we
know
that
with
makers
help.
D
You
know,
to
be
honest,
we
don't
want,
there's
no
need
if
we
do
this
right
with
maker.
There's
no
need
for
anybody
in
the
canada
space
to
ever
go
to
a
bank
anyway,
and
that's
the
whole
point
of
all
of
this
is
to
get
away
from
this
banking
system
because
they
don't
get
it.
They
don't
look
at
these
opportunities
for
growth,
like
what
we
do,
especially
in
emerging
markets
like
peppa
said.
So.
That's
where
I
see
the
real
value
is
to
be
a
game
changer
on
a
global
scale.
G
C
Sure
there
is
more
to
the
process
and
we're
kind
of
you
know.
This
is
ip
for
us.
We've
taken
a
lot
of
time
and
effort
building
out
our
processes,
so
there
are
other
things
we
can
do
and,
for
example,
we
can
we
can
sweep
bank
accounts
right,
we're
controlling
the
ar.
I
mean
if
a
company
is
doing
a
million
dollars
a
month
and
we're
financing,
you
know,
say
even
a
400
000
piece
of
equipment,
but
we're
only
advancing
say,
300
000
against
that
there's
enough
in
their
ar
to
make
them
whole
in
most
cases.
C
G
D
Yeah
peyton,
I
heard
something
else
too,
that
you
were
saying
there
about
how
the
way
the
industry
is
evolving,
and
I
think
this
is
something
else
that
that
you
know
I
should
have
touched
on
earlier.
Is
you
know
if
we
can
get
the
system
in
place
between
all
three
of
us
we're
going
to
be
leveling
a
playing
field?
You
know,
I
made
a
comment
on
a
panel
the
other
day
where
you
know
buddy
saying
you
know
where
the
future
is,
and
my
comment
was:
are
there
going
to
be
15
budweisers?
D
No,
there's
going
to
be
one
there's
going
to
be
a
budweiser
in
the
cannabis
space.
We
know
that
it's
going
to
be
a
race
to
that,
but
does
that
mean
that
all
of
the
little
micros
that
are
making
incredible
products
you
know
they
should
be
destroyed
along
the
way?
No,
not
at
all,
and
that's
what
we're
going
to
be
able
to
do
is
to
help
out
these
micros
that
are
growing
exp,
like
incredible
craft
product.
D
B
C
A
D
You
can
reach
us
directly,
both
pep
and
I,
through
there
we're
happy
to
take
any
questions
that
we
can
share
with
you
guys.
You
know,
and
we're
really
excited
about
this
opportunity.
It's
gonna
be
a
great
enhancement
if
we
can
get
everybody
on
board.
I
think
I
think
this
is
something
that
all
of
you
are
going
to
be
really
proud
to
be
a
part
of
in
the
future.
F
Just
add
one
one
quick
thought
one.
I
I
think
it's
been
a.
It's
been
a
really
fun
journey
for
us
here
at
centrifuge
to
get
to
know
the
team
at
capital
now
cannabis,
and
I
think
especially
pep
and
josh
can
attest
that
we've
really
grown
together,
both
our
understanding
and
defy,
and
how
important
maker
is
to
this
and
this
entire
equation
so
and
really
helping
lift
this
industry
in
the
ways
that
the
capital
now
cannabis
team
has
described
in
in
depth
today.
I
think
one
thing
that
I
just
wanted
to
say.
F
Thank
you
on
specifically
to
frank
and
specifically
to
you
peyton
is,
I
think,
there's
there's
there's
natural
skepticism
around
the
cannabis
industry,
but
I
think
I
feel
at
least
on
this
call,
and
I
hope
we
can
support
the
maker
community
as
frank
alluded
to
in
understanding
kind
of
the
importance
of
supporting
businesses
like
this
and
financing
opportunities.
Like
this,
I
think
this
is
a
I
think,
there's
excitement
leaving
this
call
and
there's
only
a
few
of
us
on
it
that
I
hope
we
can
find
a
way
to
ripple
throughout
the
well.
F
I
hope
we
can
vibrate
out
through
the
broader
maker
community,
because
I
think,
coming
into
this,
there
might
have
been
more
skepticism
or
or
natural
skepticism.
That
was
warranted,
but
I
hope
you've
all
seen
what
makes
this
team
and
this
company
and
this
opportunity
so
exciting
for
us
here
at
centrifuge
and
we're
excited
to
hopefully
have
maker
and
all
of
us
be
a
part
of
this,
so
just
wanted
to
say
that
and
say
a
special
thank
you
to
the
capitol
now
cannabis
team
and
to
the
maker
community.