Trulieve (OTCQX:TCNNF) reported earnings a couple weeks ago and has recently been getting a lot of shareholder love – we take a deeper dive into the numbers and behind the success of one of, if not the, top MSOs in the cannabis space in a frank conversation with CEO Kim Rivers.
5:00 – Still focused on SAFE Banking regulations though many unknowns remain about the Stimulus Bill – which would allow banks to freely bank with cannabis businesses. Most companies, Trulieve included, currently using only state-chartered banks or credit unions because cannabis still not federally legal. Trulieve did a debt raise recently – at great ‘cannabis rates’ but still in excess of 9% interest rate while smaller, less healthy companies can get much more attractive rates with bigger banks. 280E tax code a separate, but also highly onerous, regulatory challenge for cannabis companies. Amazing how well some companies have done despite these hurdles. 8:30 – Issuing debt vs issuing stock. Trulieve motivated not to dilute long-term shareholders value. Securing real public debt – without