- 1:35 – Why Glass House (OTC:GLASF) chose to forgo being a MSO and focus solely on growing in California
- 5:36 – Cannabis’ continued legalization in the US and how it will affect Glass House’s business model and the cannabis industry in general
- 7:26 – Why California is the epicenter of the cannabis industry
- 12:23 – Business model, including planned retail footprint
- 17:29 – California’s cannabis tax laws
- 32:56 – Glass House’s largest growing facility in the world; potential concerns
- 42:41: Mergers and acquisitions
- 45:28: SPAC and de-SPAC journey
- 52:31: Glass House’s current stock price
Please note that transcription may not be perfect. We encourage you to listen to the video, embedded above, if you need any clarification.
Josh Kincaid: Welcome back to Seeking Alpha. I’m Josh Kincaid, Capital Markets analyst and today interviewing CEOs. My guest today, Kyle Kazan, is a co-founder, CEO and chairman of Glass House Brands (OTC:GLASF). Thanks for being with us on CEO interviews.
Kyle Kazan: Thank you, Josh. Thanks for having me on your show.
Josh Kincaid: Appreciate it. So let’s jump right into Glass House being one of the faster growing, vertically integrated cannabis and hemp companies in the US. You guys have a focus on California specifically building that leading lasting brand to kind of serve customers across all segments down there and from your glasshouse, cultivation operations, your manufacturing and branding, and then retailing hence the vertical integration.
So all of those efforts are being kind of rooted with the respect for people, environment and community. But Kyle, what made you kind of buck that trend of every other MSO, the multistate operators and just focus solely on California?
Kyle Kazan: So at first, it was a little accidental, because in 2014, so remember, in 2013, Colorado and your state, Washington went full legal starting in 2014. And so I’d been part of the legalization movement. We missed our opportunity in 2011 here in California to do that.
So I was in Colorado looking for a way to just kind of look at the industry the way it was unfolding, knowing, I believe, full well as an investor that it was going to go fully legal around the country at some point.
And so we made some moves in Colorado, but unfortunately, there was no way for us as out-of-state non Colorado Colorado ins to actually invest. So we decided instead of making the investment, which would have put us …….