This morning an interview with WeedMD Inc (TSXV: WMD) CEO, Keith Merker, was released on InvestorIdeas.com where we learned some new interesting tidbits about the company.
Here are a few highlights:
First, as investors are watching closely, let’s look at what Keith said about the outdoor grow:
“We pulled down successfully north of twenty thousand cannabis plants and some of our flagship strains like go Ghost Train Haze or Pedro’s Wine Gums, for instance…. You know, these plants were 7 feet wide by 7 feet tall and producing well over a kilogram of bud per plant. And so we had a very successful harvest. We’re still getting a lot of the results in. But from a testing perspective, the interim tests that we’ve done so far indicate that all the process is clean of any potential contaminants, which was, of course, one of the biggest concerns out there with respect to the outdoor grown candidates.”
On Cannabis 2.0 Keith says the strategy will remain prudent, like how WeedMD handled Cannabis 1.0:
“We have early stage R&D happening on the concentrate side. We view that again as a as a significant market that maybe has some of the some of the additional regulatory requirements or risks that are involved with producing edibles, for instance, stripped away. So the concentrates market we view as being a little bit simpler and something that we can get to market with a little bit more speed. And then when we when we think about things beyond that at the current time, we’re looking at a couple of different interesting partnerships. Nothing that I can disclose any further details on at this point, but partnerships that would allow us to get further products to market without having to again distract from our core focus of what we’re trying to achieve both in Strathroy now, and currently. “
On the overall business strategy, Keith said the following:
“Number one is we’re a company that’s gone through a massive growth phase. And when you do that, you want to try and keep as many variables out of the equations as possible because you risk sort of spreading yourself too thin and losing focus and failing as a result. All we have ever tried to achieve with WeedMD in my strict mandate and model has always been let’s keep it as simple as possible because there’s enough noise and enough complications and distractions out there to try to lead you off course.”
On the people at WeedMD, Keith talks about the culture:
“I think we built a really unique and very open, engaging culture as an organization. And I think that draws people to us. I think that is a reason for our success. And it’s also a product of our success. So it’s one of those things where, you know, I got a lot of staff who think I’m nothing but a tour guide because a good portion of my job is actually showing folks through our facilities and our sites, be they investors or partners or what have you. And it’s amazing to get the feedback from all the folks that I’ve taken through, because without a doubt and with no exceptions, everyone leaves and says, ‘wow, I’ve been through a number of different facilities, be they production, be they cannabis, be they whatever. And I don’t typically see, you know, folks who are greeting and meeting and smiling and engaging from the level of production worker all the way through to executive and so that is something I’ve always tried to instill.’ And I think, again, it’s both a product of our success and a reason for our success. And that flows right through the organization with something that we take pretty seriously. We have a culture of respect and we have a culture of engagement. And I think that that, again, back to your question, drives folks to WeedMD. “
FULL DISCLOSURE: WeedMD is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover WeedMD on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.