Mark Tasney

Mark Tasney, a private investor, asked for perspective on the recent executive order, questioning whether the market's reaction to the news was overdone or if it represented a significant game-changer for cbdMD's business, particularly regarding potential benefits or negative impacts.

Answer

Ronan Kennedy, CEO and CFO of cbdMD Inc, acknowledged that the company is still digesting the executive order's statements and that the 'devil will be in the detail' of its enactment. He highlighted the potential for CBD products to be available to over 60 million Medicare consumers with up to $500 annual reimbursement, translating to a potential $30 billion demand for the CBD category over the next couple of years. Kennedy emphasized that while the company will aggressively position itself, it will do so prudently, building a profitable long-term organization without solely relying on this potential demand.

Mark Tasney, a private investor, asked for cbdMD's perspective on the recent executive order regarding cannabis policy, specifically whether the market's reaction to its potential benefits or negatives for the business was overdone, and if it represents a game-changer or is merely overhyped.

Answer

Ronan Kennedy, CEO and CFO of cbdMD Inc, explained that the company is still digesting the executive order's full implications, with the 'devil in the details' of its enactment. He highlighted the potential for CBD products to be available as an alternative solution for Medicare patients, citing over 60 million consumers and a potential $500 annual reimbursement, which could translate to $30 billion in Medicare spend. While not expecting immediate changes by April, Kennedy believes it signals a significant increase in demand for safe, effective, high-quality products over the next couple of years, and cbdMD will approach it aggressively yet prudently.