1:00 p.m. – 2:00 p.m.- What’s Behind the Curtain for the Cannabis Industry
When cannabis companies are laying out their business cases or investment theses, investors need to know if conditions are ripe for success or setting the stage for disappointment.You will get insights on:
The Canadian cannabis market current demand versus current and forecasted supply.
What it means to be a true “brand.”
Getting to the bottom of what’s in the company’s forecast.
2:00 p.m. – 3:00 p.m.- How Much Do You Really Own?
The significant use of warrants, options and convertible debt complicates valuing your investments – and it may create divergent management incentives. Your ownership changes as the value of the firm changes, so how do you know how much you really own?You’ll get insights on:
How to value the enterprise, the equity and the shares separately under different operating scenarios.
Warrants and management incentives.
The share price breakpoints for many publicly traded companies.
3:15 p.m. – 4:15 p.m.- 280E’s Investing Impact
As investors focus on cash generation, there will be an increase in importance of the current and potential tax implications on profit margins, valuations, comparisons to traditional industries and balance sheet. This session is about the valuation and operating considerations, not the accounting.You’ll get insights on:
Why you should or should not pay a higher-than-normal sales or EBITDA multiple.
When and why to adjust for the higher tax rates.
Potential for vertical integration in a post-280E world.