As a retail-first operator with right-scaled vertical integration in Arizona and Ohio, we prioritize cash flow, margin protection, and disciplined expansion over speculative growth. Our model is designed to perform across market cycles and create sustainable long-term value.
7 operating dispensaries across Arizona and Ohio. Arizona provides a stable cash-flow foundation; Ohio footprint continues to expand.
Retail is the primary revenue driver, supported by in-house cultivation and manufacturing. Margin protection through selling internally produced products through owned retail.
Well-positioned to benefit from Ohio’s expanding adult-use market, with continued strong revenue performance in Ohio in 2025, and on track to reach the state’s dispensary license cap of 8 by early 2027.
Continued execution in Arizona and scaling operations in Ohio expected to drive sequential cash flow growth. Net cash provided by operating activities in Fiscal 2025 up +256% year-over-year.
Strong balance sheet and strategic asset ownership provide financial flexibility while limiting reliance on external financing. Targeting no non-mortgage debt by the end of 2026.
Proven management team and stable shareholder base with ~60% of shares, on a fully-diluted and in-the money basis, controlled under 8 person shareholders’ agreement.
