Ep 363 – Cannabis Is About To See An Influx of Capital, Here’s What You Need To Know

scott berman jordan tritt panther group

With more states legalizing recreational cannabis and federal legalization on the horizon, the industry is gearing up for an influx of capital. Here to help us stay ahead of the curve is Jordan Tritt and Scott Berman of The Panther Group.

Learn more at https://thepanthergroup.co

Key Takeaways:

[00:56] An inside look at The Panther Group, a venture capital consulting firm for growth-stage cannabis companies

[1:42] Scott and Jordan’s backgrounds in cannabis and how they came to start The Panther Group

[3:08] How cannabis investing is changing and the different factors driving those changes

[5:25] When we might see federal legalization in the US and how to prepare in advance

[6:48] How the SAFE Banking Act could impact cannabis investing over the next few years

[8:06] The characteristics Scott and Jordan look for when considering investing in a company

[10:22] The most promising sectors in cannabis right now

[12:32] The Panther Group’s data-driven digital advertising approach

[15:44] The biggest pain points in digital advertising for cannabis companies and how to navigate them

[21:39] Interesting new gaps emerging in the cannabis marketplace right now

[27:05] Scott and Jordan’s tips on how to develop a successful pitch

[28:54] What investors should look for in a pitch deck and where to spot red flags

Click Here to Read Full Transcript

Matthew Kind: Hi, I'm Matthew Kind. Every Monday, look for a fresh new episode where I'll take you behind the scenes and interview the insiders that are shaping the rapidly evolving cannabis industry. Learn more at cannainsider.com. That's C-A-N-N-A-insider dot com. Now, here's your program.

Sinead Green: With more states legalizing recreational cannabis and federal legalization on the horizon, the industry is gearing up for an influx of capital. Here to help us stay ahead of the curve is Jordan Tritt and Scott Berman of the Panther Group. Scott and Jordan, thank you so much for joining us today.

Scott Berman: Thank you.

Jordan Tritt: Thank you so much, Sinead, for having us.

Sinead: It's great to have you on. The two of you are in separate states at the moment. Can you give us a sense of geography? Where are you in the world today?

Jordan: Yes, this is Jordan Tritt and I'm based in Atlanta, Georgia.

Scott: This is Scott, and I'm based in Philadelphia.

Sinead: Great, okay. What is the Panther Group on a high level?

Jordan: Yes. Panther Group is a venture capital advisory firm, started in 2020. Originally, Scott and I have been investors in the space since 2014. We've invested in about 40 companies alongside our partners. In early 2020, we saw an opportunity to provide more services to portfolio companies and other potential clients in the space. We look for fast-growing companies, typically in the Series C through Series B stage. We provide capital, business and strategic advisory, and data-driven lead gen in digital advertising services.

Sinead: Great. Can the two of you share a little bit about your background? What led you to start the Panther Group? Scott, maybe we'll start with you on this one.

Scott: Sure. My background is digital advertising. My previous company I co-founded was a digital ad company that did political and healthcare targeting online, using data-driven programmatic media mostly. I got into it through politics, through supporting the Marijuana Policy Project. That led me to the Panther Opportunity Fund, which Jordan mentioned. Then as we got going in the Panther Fund, we just naturally formed the Panther Group, based on our individual experiences and the collective group that we've put together.

Sinead: Okay, great. Jordan, how about you? What's your backstory like?

Jordan: My background is in accounting and finance. I've worked for a number of startups, over about a 10-year career, raising about 30 million in debt and equity for software and hardware companies. I joined Panther Opportunity Fund in 2017 with my dad, and then Scott, and a couple of other partners joined shortly thereafter. I've been running the Panther Opportunity Fund for the last four years day-to-day, evaluating companies, helping raise capital from investors, and then serving on the boards of different portfolio companies helping them grow.

Sinead: Okay, great. Can you give us a snapshot of the cannabis investing landscape right now, how things progressed in cannabis investing, and what's driving that change?

Jordan: Yes, like I said, we've been in the space for a while. We joke, but it's not a joke that six months in cannabis is like two years in the real world. We've seen a lot of those trends go in terms of- 2018, a lot of companies going public. More recently, we've seen the SPAC trend. We've seen a number of different things happen in the space that have influenced the investing landscape, as Scott I'm sure will talk about at some point. There's really just never been a better time in terms of investing in cannabis. Companies are the largest, we have the most-- More and more states are expanding all the time. Politically, there are a number of things happening. There's just a lot of excitement.

Also, the reality is that real estate and stocks have performed extremely well. Hopefully, they'll continue, but there are always real investors who recognize the opportunities to take some chips off the table, and put it into other exciting growing spaces. We feel like cannabis, as much as ever, is prime for a lot of new capital to come in. Particularly at the Panther Group, we spend a lot of time uncovering interesting pockets of capital and liquidity for our portfolio companies.

Scott: I just want to add to that. I think politics, it always comes back to that. In the last six months, actually, there's been a lot of movement in many different states, and when things open up politically, then more capital comes in. These markets need money to develop. There's a lot of investors coming out to the East Coast that have been out there in Oregon and Washington and California for years. They've done very well and now they're setting their sights on new markets. That really is changing the investing landscape, and providing a really unique opportunity now to get in while it's still relatively early.

Sinead: Absolutely. Going off that, what are your thoughts right now on the federal legalization timeline? How do you think things are going to pan out over the next few years in regards to that?

Scott: Well, I'm very optimistic when it comes to politics, more so than most. I also understand that in politics, some things take a very long time and then they take a short time. We've seen this happen with many other issues in our country that have not really been right, and they've been fixed over time. What we've seen as far as federal legalization goes, we still need one to two more election cycles. Every two years, things change a lot in our world. I think in '22 and '24, we're going to have a new Congress and maybe a new White House, and that's when I think we have a very good shot of getting federal legalization.

However, also, what's happening is that the states are changing so rapidly and coming online, that a large majority of the country already has access to legal cannabis. That could make the federal changes happen quicker. That's what I'm banking on, and speaking of banking, there's a lot going on with that as well. I think politics sometimes is not seen by everybody every day, and then all of a sudden, there's a bill on the floor, and things can change quickly.

Sinead: That's great. You just mentioned banking, what thoughts do you have on the Safe Banking Act? How do you think that could influence cannabis over the next couple of years?

Scott: Well, I think it's going to have a seismic impact. There's a lot of trouble right now when you're operating on any level in the cannabis space. Banking is difficult. There's also a lot less liquidity available to companies that are trying to borrow money to build their cannabis business. It's actually an opportunity for us as venture investors to get in with some of these companies when they can't typically go to a bank and take out a loan. They also can directly pay suppliers and payroll and everything else that a normal business does. It's just more complicated. There certainly are many solutions today, but there's still a lot of cash and there's a lot of security issues.

There's just a lot of things that would make it easier. For example, companies that operate in multiple states frequently have to have separate entities and banking relationships in each state where they operate. That's a problem for them as well. I think from a bottom-line profitability standpoint and security and compliance standpoint, a lot of things are going to get better after the banking bill goes through.

Sinead: Okay, great. Getting back to the Panther Group, you mentioned earlier, since you guys started, you've got about 40 investments to your name. What characteristics does a company need to pique your interest? What are maybe one or two investments that have really stood out to you over the years that you're most excited about?

Jordan: Yes, that's a great question. We've had two funds. In the funds, we've had investment theses that have guided a lot of what we look for in companies. Some of those criteria we look for is a really strong management team, especially one that's coachable. At Panther Group, like I mentioned, we're involved in a number of different areas. We find that entrepreneurs who are open to feedback and open to expertise in different areas tend to perform the best. An openness and willingness to receive support and help from other people is one thing. We're looking for leaders in particular spaces.

Within the 35 or 40 companies that we've invested in, that's been across more than 20 sectors, including obviously, a heavy concentration in ancillary companies and also a fair amount of plant-touching companies. We're looking for some of those leaders within particular sectors in cannabis. Like I said, we're typically in the Series C through Series B stage. We get involved with companies that have revenue, ideally at least a million in revenue, and that have a clear exit plan over the next, realistically, five to eight years. Those are some of the criteria. We also look for companies that can expand and have applications outside of cannabis.

We've had some companies that have done really well expanding beyond cannabis because one of the exciting and interesting things about the cannabis plant is it's a very high-valued crop. A lot of technology has been developed that can be justified when it comes to the impact it can have on producing a better crop, a safer crop, et cetera. Some of that technology is now pouring over into other industries, which is really exciting.

Sinead: Great. Going into that, at the Panther Group that you have invested in a lot of companies across multiple sectors in the industry, what maybe two sectors do you find yourself most gravitating towards right now, and what do you think is maybe an up-and-coming sector at the moment?

Scott: I think it's interesting, the vertically integrated operations in limited licensed states, or new-ish states, states that are coming on and that are really underserved at this moment, that's a really exciting thing for us, so we're looking at several [unintelligible [00:11:01] opportunities. Maine, Massachusetts, Michigan, these are not fully developed markets, and there's a lot of opportunity with the right location and a vertically integrated situation. I think that's really interesting for us.

We're always interested in technology. Certainly, data, any company that's collecting data on cannabis consumers and deploying it certainly is interesting to us. It's a tough question because we see a lot of opportunity in the lab sector actually. There's a lot of states that start to build grow capacity, and they don't have enough labs, or they don't have quality labs. There's opportunities for rollups in the lab side of things. I would say that those, going forward, they're all going to still be relevant for a couple of years to come for sure until these markets are fully served like the Western markets.

One other thing I'll just add is there's a lot of opportunity on brands, on the brand side of things. We're so early in the branding of cannabis products. There's only one brand, maybe Cookies, and there's few others that are really going to multiple- many markets right now. I think that over the next couple of years, investing in a brand that's doing well like on the West Coast and bringing it to the East Coast is an example of where we see a lot of opportunity and rolling brands together.

Sinead: Okay, great. I want to shift gears here to the digital advertising side of the Panther Group because you guys are not only a venture capital firm, but you also do digital advertising. I've read you have a very data-driven approach. Can you tell us about that and what you do for brands on that front?

Scott: Sure. We work with first and third-party data, sometimes from the brand itself. Taking their customer data, onboarding it and matching it to cookies and device IDs and cable boxes, and we do a [unintelligible [00:13:05] media to first-party data sets. Then we also look in the third-party data world to target people with different demographics; age, geo, gender, what type of car they drive, what type of community they live in. We look at all these signals and we apply them into programmatic media channels, and we work-- As the Panther Group, we're agnostic as far as who we use. We work with a lot of different folks, and the idea is we're going to understand who's buying edibles in Northern California and who's buying flower in So-Cal, and really trying to focus in on these audiences and then geo-fence.

There's a lot of data that goes into geo-targeting. Where are the stores? Where are the stores that carry your brand? How can we find people and open up new markets? We want to sell more and drive more traffic in this store where people ask for your brand or their website, but we also want to open up and sell into new places. There's a lot of data coming in from the beginning and a lot on the other side, on the metric side, we can measure a lot.

Jordan: Just to add to that, what we're able to do, and we're seeing a lot of interest in now, is co-brand or co-advertising between brands and retailers. This is something that's exciting for a few reasons. One is brands have been struggling for a long time to get that first-party data and understand who is actually buying their products because a lot of times they just put it on the shelves of retailers, and that information is captured by point-of-sale companies.

There really aren't good-- There aren't solutions out there right now looking to solve that challenge which is how do we bring together the brands, the retailers, the point-of-sale data, analyze that, and then work together to drive traffic into the store featuring particular brands, et cetera. This is one of those things where everyone wins. That's what we look for as opportunities where we can-- Because we're connectors and we have lots of conversations across different types of companies, we're able to bring together otherwise disparate conversations or companies that wouldn't otherwise come together, but we're able to connect them and bring tools to make it all work.

Sinead: Okay, great. Cannabis right now, the digital advertising, things are a little tricky with the Google and Facebook off the table obviously. What are the biggest pain points brands are facing right now? How does digital advertising-- How is it different in our industry than it is in most other industries at the moment?

Scott: The first big problem obviously is Google and Facebook account for about 60% to 70% of most small business advertising in this country, and they are off-limits almost to all cannabis advertising. Some CBD might be possible now. That's the biggest challenge. They've made easy of the years for the average small business structure without a big marketing team to do that. Without that, there's a big challenge on how do you drive traffic to your website without those two tools. That's number one.

Number two is really, I believe, a lot of brands don't fully understand who's buying their product. Part of it is because of the rapid growth in this industry and the brands are starting to be in the 50 or 100 stores, and they're selling out and they're barely keeping up with the demand. They really don't have a handle on who's buying what, where, and when. That's a big problem too is really selling more to the same people or selling more to that same store.

Now, what we're trying to do is help them corral this data, understand their audiences, and then find look-alikes, and sell more to the same people. Retargeting is a very popular tactic, and most of these folks have never tried this before on their website. That right there can help a vendor, a brand really get more brand awareness.

Sinead: Okay, great. Going off that, what thoughts do you have for how things will change for digital advertising in the industry when we do see federal legalization and the industry is no longer segmented by state?

Scott: I think you'll certainly see a lot of the bigger players open up the advertising and there will be a lot more inventory available. That'll definitely happen, but I also think there'll still be restrictions somewhat. You really can't do alcohol ads a lot on-- Google AdWords is really not for that either. There's definitely-- It's going to be nuances here and there, but I think more of the big players will open themselves up to digital ads for cannabis.

I also just wanted to add one other thing too though is you're going to see that there's going to be a crossover between mainstream-- Let's face it. Cannabis is getting to be mainstream very quickly, so you're going to start to see ads on television and you'll start to see ads on digital-- We do a lot of digital video advertising, like pre-roll video on apps and websites, and I think you're going to start to see that being a lot easier and a lot more available to cannabis brands and then they'll start to build those national followings.

Sinead: Okay, great. Are there any particular pieces of the cannabis ecosystem right now that the two of you are most excited about?

Jordan: That's a great question. I think what Scott talked about in terms of the brands moving from the West Coast to the East Coast and the new consumers, I think there's just a very ripe opportunity to help companies- both companies, both the license holders on the East Coast and brands and experts on the West Coast to come together and make seven, eight years of learning out in Oregon or Washington, Colorado, take that and bring that expertise day one. The same thing like we're talking about with the data and knowing who's buying their products.

We say the same type of person that drinks red wine on the East Coast kind of looks the same as the person on the West Coast that drinks red wine. It's the same product. If we know people, like Scott's saying, or fit certain demographics, then we can target them as new markets come online. I think the acceleration of cannabis mainstream into the new markets including how the legislation and regulatory pieces roll out, that should happen a lot smoother hopefully than in the past. I think that the pace at which the growth is happening, and what we can do to facilitate that is probably the most exciting thing for us.

Maybe one other thing I think about is the entrance of family offices into the space because there's been a shortage of capital for the space and family offices because they're not prohibited by any governance or whatever so that they can invest how they want to invest. They are really taking to the opportunities to get in [unintelligible [00:20:57] big way. When you're launching a new vertically integrated company like Scott's describing, that's 15, 20 million of capital. That's not easy to raise on cannabis VCs in mass being able to write $15 million, $20 million checks, that's not where cannabis VCs have played, so the opportunity and the need for it is critical.

The entrance of family offices and what we're doing alongside Family Office Networks and the Cannabis Investment Club, we're really excited about being an entry point for those ultra-high net worth individuals to come into cannabis in a responsible way.

Sinead: Absolutely. Great. Going off that, do either of you see any gaps in the cannabis marketplace emerging that listeners should maybe be aware of?

Scott: Yes, [chuckles] every day. Yes, there's definitely gaps in-- Also, I look at it geographically too. If you go to the western states, the states that have had cannabis, there's not many gaps, there's not as many. There's people filling every sector of the industry and filling it with quantity. There's a lot of edibles brands in California right now. There's none out here in PA, and New Jersey, and New York, so that's a big gap in this part of the country.

As the industry keeps evolving, those gaps get filled because more capital comes in and businesses are developed. A couple of years ago, there were no point-of-sale systems for metric or seed-to-sale tracking programs. Now, there's 30 of them. I wouldn't want to start a business doing that today. I think a lot of it is based on where the business is developed and which state at this point.

Jordan: I think another interesting opportunity which we're seeing come up and it's the early days is this feedback loop between companies, let's just say manufacturers to keep it simple. The ones making products, and the consumers, and what are the effects that the consumers are having from taking particular products. Then where we get excited is on the lab and the analytical side.

One of our companies, Abstrax Tech which can analyze cannabis and they've identified up to 400 compounds within the cannabis plant. This is a really, really complex plant medicine and we don't know yet because it's been federally illegal, and the research and all that stuff have been minimal, we don't know the impact that this can have. What I'm seeing happen in the real world is that cannabis entrepreneurs, and operators, and stuff are not waiting for federal studies to be allowed.

We're trying to create our own feedback loop and bring in companies that conduct clinical trials. We've got the research side, we're looking at technology and platforms to gather all this data and make it usable. Then obviously, you're looking at the companies that are making the product and the ones that have the information on the consumers that can give us access.

That to me is a major thing in terms of trying to understand the impact of the plant is to get some feedback on how are people handling this and how are they getting affected by it. That's something that's pretty interesting from my standpoint.

Sinead: Great. Awesome. Getting back to where the Panther Group is at the moment, like we discussed earlier, you have invested in about 40 companies at this point since you started in 2014, and lots more to come I'm sure. What goals do you have at the Panther Group over the next year? Do you have any big plans coming up that you want to share?

Jordan: Yes, thank you for that opportunity. The number one need in the space, in general, is capital. We're doing a couple of things to solve that. One is we're going to be launching our new fund. The Panther Micro Fund targeting raised up to 10 million. We're out in the market coming up soon with that. Like I mentioned, we've got a partnership with Family Office Networks and the Cannabis Investment Club where we're bringing together a lot of active high net, ultra-high net worth family offices to come together and fund a lot of cannabis deals, so we want to bring a lot of deal flow into their group and get a lot of deals funded that way. Those are a couple of areas we're focused on.

Scott: I just also want to mention that in October, MJBizCon is in Las Vegas. We'll be there with- one of our investments is MJ Unpacked which is the first brand and retailer-focused show like a buying show. It will be at the Mandalay at the same time as MJBiz. I know a lot of your listeners will probably be in Vegas during that week and we'll be there often or all week and we'll be doing a lot, so please look for us when you're out there.

Sinead: That's great. That's funny. We actually just had George Jage, the founder of MJ Unpacked on the show. Listeners are all up to date on MJ Unpacked, but yes, that's an exciting event.

Scott: Yes. We're big fans of George and Kim and everything that they do. We're very excited to get back out there. We missed everybody last year.

Sinead: Absolutely. I think everyone's excited to get back in person there. That's great. Awesome. I wanted to ask you guys a few things. The two of you at this point, you've heard a lot of pitches, you're probably the cannabis pitch gurus in the industry at this point. If you were sitting down with a founder who was prepping his or her first pitch, what do's and don'ts would you give them?

Jordan: Definitely be yourself. Definitely, be prepared. Know the expected points of conversation, know the deck so that you can be able to walk through it and not have any issues if there are any technical difficulties, those things come up. Definitely, be prepared. Do your research. At this point, the space is pretty small, so if you can find someone who knows that person, it can give you a little bit of insight into what they're looking for.

Each group has its own buttons that get ticked. I would say along those lines, just use advisors and people who have been there. Know your strengths. If you're naturally a great operator but not a great fundraiser, that's okay, know that that's an area that needs to be improved, and either focus on it or make sure that you can cover it with other capable people.

At Panther Group, we're very transparent, and honest, and stuff, so we want to see and understand who you are. We're looking to invest in you, and the person, and the team, so we want to understand, really get to know you. That's important. That's from my vantage point, but I assume from other investor's vantage points, they look the same.

Sinead: Great. I love that you really played a very active role as an investor which is something that's hard to come by in the cannabis industry right now. That's definitely a unique characteristic of yours, of the Panther Group, and one that a lot of businesses look for in an investor, so that's great. On the flip side of that, what would you say should an investor look for in a pitch deck to really discern whether or not it would be worth their time, and what are maybe a few red flags there?

Scott: I just wanted to add to your last comment. It's really important, is us being there and along the journey, this is a journey, we're in for the long haul, and we like to help people along the way. It's really important for us to not just be a capital source and just a quiet-- We want to help. We want to help them realize their dreams and that's really exciting for me, and us, so personally.

As far as what we look for in a pitch deck, I would say certainly a lot of detail on what the plan is and what the projections are. Really show that you have an in-depth understanding of the numbers behind the idea. Lots of people have a good idea. What's your business model? When will you be profitable? How much capital will you burn until that time? That's one thing.

Some red flags are pitch decks that talk too much about the cannabis industry. My one suggestion to anyone is don't put too many slides in about how big the cannabis space is. All of us know already. We know it's big, we know it's exciting. We're already here because of that. Really focus on your business, and yes, the addressable market is important, but focus on how your business fits in.

Then I'll just add one other thing. A red flag is if you're not looking at the competition because if you come up into this space and think you have a brand new idea, you're probably not there. You really need to understand who's done this before, have they been successful, how much market share they have, how much money they raised. What I look for is someone that understands the landscape and how they might fit in and how they might win over time.

Jordan: I'll add a couple of things because I think this is interesting and probably informative for the listeners. For me, an exit strategy. I mean, it's generic, but for us, we need to know how you're planning on getting out of this business. We are not investing in any lifestyle businesses, they're all here to grow and exit, so we want to know how you're planning on making that happen. The team is extremely important, so make sure that you're talking about the team and sharing people's specific talents that make them uniquely qualified for that position.

The deck needs to flow. It needs to really tell a story. The number one thing that I always look for and try to get out of it is to walk away and say, "Okay, I get it. This is where they are, this is what they need, this is why they're going to be successful." It needs to just pretty easily compute and go together. If it's really complex and it doesn't flow nicely and stuff, then that's- I wouldn't say it's a red flag, but it's something that's going to probably make us not interested. Even worse than a red flag, it may end the conversation. Again, it gets into that preparation. The reality is you only have one chance to make that first impression.

Sinead: Absolutely. Well, thank you both so much for your words of wisdom there. That's super helpful for our listeners who are just getting going with their own ventures here and really appreciate those words of advice there. I'm going to jump to some personal development questions here, but after that, we'll get into your contact information and how people can connect with you guys and work with you if they're interested. First up, is there a book that has had a big impact on your life or way of thinking? Maybe we'll start with you on this one, Jordan.

Jordan: Yes, there are a few. I'd say on the personal side would be Eckhart Tolle', The Power of Now and also A New Earth. I think just the importance of living in the present and really just focusing on the moment that you have now. I think that's been something from a personal side. From a professional side, there was a book I think Patrick Lencioni wrote called Selling Naked. That was something that always stuck with me, a very good book. It's not what it sounds like. Another one recently that I've been reading is Dare to Lead by Brené Brown, also a very good book on leadership and willing to rumble as she says, and just being able to have tough conversations and open honest conversations.

That's something- I'll just add about this, the cannabis space that we love, the people are so genuine, and 99% of it, at least we found, the people we interact with and want to do business with are genuine and open. One of our salespeople, he's always amazed every day when he gets on the phone at how open and honest people are. Within a couple of minutes of the conversation, they're sharing all these details. That's just something that Scott and I, we're people-first, we're families. Just doing things the right way, and this thing is part of our lives. That's what's unique about the cannabis space. We're fortunate to be in it and to be able to weave a lot of the personal and professional things all in one.

Sinead: That's great. Yes, that's something I love. I'm fairly new to the industry. I've only been in the space for a couple of years now, but it's such a collaborative community, and like you said, very transparent with each other, which I love. That's a great point. Scott, what about you? Any good books that you--

Scott: Sure, lots of good books on the pandemic because I'm home a lot. Actually, The Power of Now. Our senior advisor is Dr. Ramy Tritt, who is Jordan's dad, and right before the pandemic, he gave me that book, The Power of Now, and it was very important, I loved it. Then I started reading a lot of other things and I'm really into learning about Buddhism. The book that I thought was the most important was by Thich Nhat Hanh and it was The Heart of the Buddha's Teaching about transforming suffering into peace, and it was just very powerful. I've read a lot of books like that in the last year and a half and I'm trying to work that into my personal and business life, all the things I'm learning there.

Sinead: Great. Awesome. That sounds fascinating. I'm going to have to add a few of these to my reading list. It's already a long one, but I'm going to put these up there. That's great. Next question here, what is your favorite unhealthy comfort food? This can be West Coast, East Coast. I know you guys have been all over the map in the US, but what would you say is your favorite- maybe a fast food joint?

Scott: Favorite fast food joint out West would have to be In-N-Out Burger for me. Jordan?

Jordan: I'm going to give the most boring answer, but it's an honest answer, which is I keep kosher, so I do not have a lot of fast food options, but I can tell you foods and stuff, my go-to, I have lots of foods ready, Oreos are just a personal favorite, a family favorite as well. Oreos, the regular ones are not dairy actually, so with the kosher thing, you can eat that after you eat-- I'd say go-to is Oreo.

Sinead: Nice. I'm vegan and Oreos are thankfully vegan, which is pretty amazing there. We keep them well-stocked in our pantry.

Jordan: Yes, there you go. Lots of different flavors, all different options, and [unintelligible [00:37:40].

Sinead: Awesome. Well, as we wrap up here, Jordan and Scott, how can listeners find you online and maybe get connected with you at the Panther Group if they're interested?

Scott: The best way is LinkedIn. I mean, it's the easiest way to find us on LinkedIn. Our website is thepanthergroup.co, we just relaunched it actually, and it looks great. You can come to the site and put your name in there. We are on Instagram, so you can follow us a little bit there. Also Clubhouse, we're doing a Clubhouse tonight at [7:00] Eastern about cannabis and politics. We're trying to get a little bit of audience there. For me personally, I'm easy to find on social media, Twitter, and feel free to reach out. I love making new contacts. As Jordan said, I just want to second what he said, we really do enjoy all the people and the interactions that we make every day. It's really a big part of what we do, and we're grateful. We also want to thank you officially for having us on, Sinead, and really appreciate the time today.

Sinead: Thank you both so much for coming on, we really appreciate it. Listeners definitely got some great words of wisdom in this interview, and definitely, some actionable things that they can take with them, so thank you both so much. All the best for the Panther Group and what you've got going on for the rest of the year.

Scott: Thanks very much.

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