PLNHF - Earnings call transcript Q1 2021

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Operator

Greetings, everyone. And welcome to Planet 13 Holdings 2020 First Quarter Financial Results Conference Call.

As a reminder, this conference call is being recorded on May 27, 2021. At this time, all participants are in a listen-only mode.

Following the presentation, we will conduct a question-and-answer session. at questions. for provided queue analysts be for up will that research time to Instructions I now Relations Instructions] Mark [Operator would Kuindersma, over the Head to call of Investor for XX. like Planet to turn

Mark Kuindersma

our Good available XX first today. on well Planet The SEDAR, you. us were financial release, on financial Holdings’ afternoon, for as quarter thanks Thank joining website, and statements, today. press results XXXX planetXXholings.com. released everyone, MD&A as are

listeners that remind a to There be management, will expectations Before today’s developments, of management’s we’d include portion prove or I the pass call discussion future to of circumstances the can over like be such to that forward-looking results statements. or materialize. estimates or no accurate assurance information will

of events the risks filings results events. may We call. read those these made forward-looking statements statements Risk the uncertainties, results listeners available predicted to in on company’s affect materially could these conjunction are result today’s from results with or differ in and detailed factors public As actual or are encourage in a that SEDAR. that

this except conference dollars applicable It in obligation relating the XX does update of discussed or noted. made such any are this results otherwise not Planet by assume call. are disclosure during statements presented Forward-looking Planet and the date disclaims unless revise dollars or any to the liability mentioned to U.S. as herein. company intention in are any as U.S. required for XX financial information, of call in call statements law.

now Inc. Dennis Co-CEO, Scheffler, Scheffler, we Logan, Groesbeck, Planet over to and Co-Chairman and Larry Co-CEO; Co-CEO; pass XX today, and call Bob Larry On call Holding have the the CFO. I will Co-Chairman and Co-Chairman

Larry Scheffler

in is you mirroring finally. been to out and thank to great are headwinds Thank continued Caesars you, up in much Entertainment to sales allows we without our I’m May. back Vegas focus moving It’s to that as demand future, our our XXxX. million that were are and We’ll $XX.X the the it back seeing than macro year, On open Xst, restrictions. continued. performance their COVID we $X.X as for a This to you first be with Earlier the starting ground. then SuperStore happy in followed After feels any back wind through the be and May the million capturing of possible. little April us strong we what have against trends operating Good last June on increase for reported last report observe the and have more foreseeable sold battling in to at on a having open March talked also overwhelming SuperStore capacity back call. since rooms see and the be record to in quarter for the will afternoon, month a participating XXX%. Mark. able to We everybody,

to dispensary from million from QX provide from and the to other talked maintain we have can $X.X should was help wholesale level social Medizin were more wait us delivery, and $X.X other. longer into last down we call, each and about million and we take conference customer. the Removal curbside sales, $XX.X into times improve the how Digging $X.X restriction and due from revenue to losing On to broken service million million this our restrictions distancing. sales of of we capture sales neighborhood SuperStore,

of able service March. This freeing well shares is progressing [inaudible] performance to years their how month year. we curbside gear floor sales dispensary generating quickly records data from all our dispensary only retail I with of the expect dispensary to have number. while QX. to many cash in But our expected and give we’re came Even strong every revenue during $X.X in shopping since March experience market for growth we growing the state March as provide in each approximately The was was the through Well, and that it the fast as always win-win, and from we market store largest yet Bob have April to substantially last I’m we hands share service, resources superior March. was was say, Medizin XXXX, our able dispensaries It’s QX a million December new a customer and in have maintained is the sales, Nevada. Our it and our and to location, our really teams, close. outstanding double for expansion receive on customer an QX opened get shut in tourists. pleased When in selection, close, may testament few of kicked we’re extra achieved really have same location. to competing a announce growth -- hasn’t addition gets as how SuperStore locals non-cannabis it turn local to of The great product in back wholesale, Especially the have April. of and XX matches and opened we experience, needs. since customers. and as up high that registers It Medizin convenient in the delivery to that released location, what

attract a help are problem. very How the continue and two features for will restrictions from problem us we will this work demand? profit customers The as maintain entertainment lifting year no Nevada -- generate many overwhelming different tourism, to on we when with well floor. there competition. time the new there us to the the of definitely We any facing a keep the have to still the at we are to do now expansion were distance to could there when fighting our this the all up feels no experience was better, year. SuperStore during time as that of in While do also we revenue After for

or of local to to on customers curbside to space job time midweek purchase delivery We’re doing or the and tourists or our incentivizing weekend. good give maximize the a to able utilize

of in amazing $XX.X Dennis April that was this wild we to All to financials. We million better. and I’ll that, an is our do With think number. it say will off can to discuss we pass

Dennis Logan

Larry. Thanks,

that March today’s during Nevada generating operating Planet remind from heard across forward February. of the of what expected of Well, The rebounds The of sluggish tours COVID- by we revenue booked economy a in April. stated to still January, like and fully was to number from The open generated the very into the begin, of the $XX.X XX.X June Vegas I the in the as in XXXX. and COVID-XX out, stated everyone This are these month rooms XX the XXXX in seasonally month as growth, revenue. -- to million sales month company welcoming the and discussed quarter months call the to many U.S. million Vegas, Las first Before numbers showed to dollars were QX in on during Larry as operators expect unless of from just impacted year a otherwise. returns for hotel XXXX. specifically all the the entire year SuperStore back balance strip strong ahead. that U.S. casino throughout during and restrictions of Las XX the to related I of QX We’ve pointed the the be are month good we look revenue almost April also months of equals X,

to consistent was normalized suffice another as the revenue The summer. quarter, of we June of margin Gross move with level to was $XXX,XXX from of operational the return Vegas. has We’ve XXXX. XXX% in the we expect end County XX record of ramp expect but the tourists the in million both talent returned in quarter. XXXX, to Planet also more Vegas they we County in to planned space. strong slightly noticed have $X.X we and as improvement QX this we’ve as open what of of monthly County through we Xst, Sales track we trend been the will returned company in off If QX support spent million expansion margin XX hiring Planet So following be Orange as opening. Vegas and and up as throughout at well closely who the and more the additional improvements for this and dispensary start May Las State Las G&A and store start XX.X% to continued break been we’re as below recruiting terminals up our month as continue expect last market also to marketing expected active $X.X for seen from expense and anyone and of to gross marketing still is quarter, XX in tourists for move on on the prepare an increase the sale sales to we it Nevada month-over-month say a dollars anticipate QX, to Las floor of to QX the a to to location Orange fairly spend The SuperStore and QX. up we Orange see point would in number

revenue continue in we G&A number location -- expect then to that We as this QX have County QX open gain back to starts of and and the the down a after Orange as as percentage store -- traction. some to Orange County QX increase trend

XX, flow and million. from cash spent and result million the warrant as December we million and number was CapEx that during operations store XX, March quarter this Cash from a related cash QX by over increased of As financing XXXX, had is approximately and company Orange County, $XXX balance $X.X $XX other as $X.X up million of of $XX.X exercises in XXXX. initiatives. the to from on a the of the opening million $XX.X offset This --

with earmarked the Phase improvements $X XX, as our $X current in facilities. of million XXXX, has for County cultivation one which been approximately our of for acquisitions a creative and and of -- upgrades commitments million As of for $X CapEx build opportunities. and and is million SuperStore spent additions expected funds March on $X XXXX outstanding other out, balance growth at at million date at reminder, M&A, completion already Orange expansion approximately the million approximately $XXX $XXX,XXX are the SuperStore The X QX

that, with Bob. I’ll the to so call And back pass

Bob Groesbeck

Dennis, everyone. you, Thank Great. and good afternoon,

certainly of our to or Larry off we’re [Audio X.X. being years excited The local a showing couple enhances Construction after the to watch start comfortable overall at quarters share that and earlier, Las intelligently its it. California, operation, a customers seeing opening trip on two and COVID Orange are the how Southern day-to-day and P couple we and XX excited XX and as traveling XX and America. years with of growth an County with facility feeling indicated lot lifted on XX time Vegas on We the after experience hopefully refer as entertainment Planet customer are progressing for Orange Las tourist OC with really to learned are in gain improves the P shopping home. with open OC and great budget ramps growth vacation first is generation Vegas the over July. experience. to two SuperStore rapidly Everyone restrictions a more features, still Americans they and as I’m running designed Las year that parking, incredible alike. is for soon going As is and we up deserves the is traction and and strength through fondly to SuperStore over Vegas are Gap] a years and next first County to throughput years last beautiful The We SuperStore Planet agree

our OC share wholesale say store expect minute. We always or their social that and our Vegas for like on and locals unique and the Las also media experience visit brands best benefit, as platforms, customers tourists Larry by XX.X% to sequentially. a are grew location, will that other Instagram alike entertainment well sharing our wholesale features. I marketers. our We Switching and as

a to responses Beverages launched XXth. We with state. it the done traction We’ve and testing We sodas and with extensive customers roll to May the of product starting very out the excited line see state are Nevada. dispensaries are get HaHa on in new across across we

and important XX% still for Although, It small this to If product up for about while product beverages potential. of of up note, XX% in-house products. the of XX% make lot products, market, edibles up of look make made a goal of our a our on of individual portion of In-house however, total brands brands to is vape and we way XX% think sales. we all is retail derivative categories. upside there’s that concentrates at types,

explained the still our are over expanded Street While cultivation the last in up rather to for stores. unable while capacity keep we’ve demand facility we’ve quarters, our flower Bell we at with medicine few overwhelming

We it to to flower and our restrict only. continue wholesale not to stores

customers Our medicine flower basket Planet purchasing products who attracts XX expand products. local then other their

We quality are are I’m those thrilled future. excited the as of harvest incredibly additional continue of excited with rooms about and harvest coming come the first the to Bell out online.

balance Vegas working for back a starting expect pay are the I to like sheet a XXXX it our for as mentioned, of on instead The said, dividends ask XX well after to we’ve Our Planet now to for and to the as year, it of for SuperStore, Operator earlier Larry’s open call local against we improvements constantly made great questions. wind you. Las offerings would it. our tourism, to especially and the with are be Vegas, the Thank weather first year I’ll good With of return out to and cannabis state like storm track comments we XX. have to in I M&A on. performing the well are already on is now that feels expansion fighting execute years, have at echo we feels opportunities a the incredibly accretive as

Operator

Burleson first your question. [Operator line Instructions] Canaccord. is Please line with Mr. question Our Bobby comes proceed of from with your Burleson, open.

Bobby Burleson

you me? Can guys. hear Hey,

Larry Scheffler

Yeah. Hi, Bobby.

Bobby Burleson

Do you guys hear me? Great. Okay.

Larry Scheffler

Yeah.

Bobby Burleson

to a EBITDA talking nice Congratulations myself on just there. the for the cash I’m second Larry, and balance.

maybe what your California. you well with longer California you own just in in dispensaries obviously I year. guys with there? yeah, the opportunity first, are main Nevada there doing wholesaling know that’s is guys wholesale what of on are But curious other curious you what of brands the So, focusing kind in to wholesale, this doing not see term focus

Bob Groesbeck

it And we Yeah. But number production with the with Bobby, our at of this in suppliers. chat Good that, grow actively again. to cultivators there, our of well. everything when they’re Obviously, upon Yeah. and July, were look of to to the facility in and number there we Larry Vegas, California California. portfolio for team, with asking is the thing they’re that you opened SuperStore our customers Bob. is and point. and some that intent given assets a reliant a engaged we’ve when them been large into products and I course, discussions third-party happens nice in bring market And as we in the Las in in HaHa there as already bring roll currently and our that familiar enjoy the Medizin California already it is, brands,

portfolio throughout entire building that So the we’re brand California excited about real region.

Bobby Burleson

Great.

the what And are you latest XX% terms sure of in the then you’re Sounds peeking that where like Nevada, you? running. that dispensary figures or do so. ground at Not see penetration you’ll in for hit

Bob Groesbeck

that Dennis, over I’ll you. pass to

Dennis Logan

Yeah.

outlying in you dispensaries of got terms in Bobby, that. XX%, higher may are get of So, But not biggest Reno. couple slightly state. think dispensaries the smaller the we’re up We’ve numbers, a we in we’re in penetration There all in. customers I of than that

really customers go. For into customers think, focused the we and it we go on orders forward existing as us, as bigger orders bigger we’re repeat I -- turning with those

numbers in the of wholesale We QX. similar we in our growth expect growth are seeing and that type terms in quarter of in the

Bobby Burleson

stores, state? expect XX last Medizin, looking or the a of you’ve kind or you’re what just California in kind different entirely metros elsewhere And into infill an of the maybe -- initially you one but in Do that you terms Nevada small with Planet replicating brand. done quick maybe do to format one, Okay. of are to in

Bob Groesbeck

three, all to Yes Bobby.

retail at looking California, in active very are We opportunities…

Bobby Burleson

Okay.

Bob Groesbeck

outside a fall looking other again something makes look Nevada, we’re lap but for should east But a … way also of SuperStore in contacts, the to at number that all our sense. the from take the it. also California. at jurisdictions in coast We looking opportunities of hard

Bobby Burleson

and Thanks congratulations. Great. Okay.

Bob Groesbeck

Thanks, Bobby.

Larry Scheffler

Thanks, Bobby.

Operator

the with Our proceed of question. Cooper line your next Beacon question comes Securities. Doug with from Please

Doug Cooper

on afternoon, quarter. nice Congratulations Hi. Good guys. a

So the let’s start numbers. looking at

QX. the is $XX think in I versus SuperStore million $XX.X million

think, is was was what I So that Medizin, just growth QX, December? in Larry, I it Bob which you all or said that in sequentially, $XXX,XXX obviously biggest $X.X -- the million, was Medizin guess, this for

Bob Groesbeck

Dennis?

Dennis Logan

was That just Yeah. Yeah. would December. It open…

Doug Cooper

Okay.

Dennis Logan

an November December XX, all -- but … open that’s soft revenue. open

Doug Cooper

XX. X is So XXX times

from X clearly get it’s to about traffic please? a So there in December. that’s potential daily in huge to annualize. up Medizin think or What $XX running even you What guys, million increase do the been so the X.X points, back average

Bob Groesbeck

Yeah. Doug, we….

Larry Scheffler

Yeah.

one You Bob. take that

Bob Groesbeck

think, just the in say, more There’s approximately as going changer started think Medizin. was Allegiant big mentioned just is game back I competition Doug, No. Stadium, but going getting we’re to I Larry the I us. for in be into earlier, to a market, lot

to the to before mentioned the addition Interstate all have think I In XXX improvements prior I’ve fact calls, been the completed. that

there’s So there issues really traffic no anymore. over

we’re Brooks July first So arena. Allegiant the with event Stadium -- will big opening be up Big excited. Garth XX the at really

going because encouraged get amount to the that’s people we’re right door what going exit draw, to of and go front excited just we’re -- XXX sunset. to of a traffic our So about past onto terribly off as huge is that

Doug Cooper

Okay.

Bob Groesbeck

Larry, I you don’t have. know if

Larry Scheffler

us And I to agree. expect I to No. grow. No. continue

down. it even through very bud we carrying surpass walk get I’m to where we’ll ways the -- when we even customers iPads at to were through shut through confident And new looking tenders. We’re store, people whether

months, that if did by look I there the think we will end the of first year, surpass $XX at the month-to-month. we million XX but in

Doug Cooper

is locals. discussed past with because the you I think the to you traffic don’t the we’ve associated a give gross The discount like in have to better, tourist do margin

the maybe as you just As forward talk how maybe look this be to say, the on tourist get overall can it at versus of integration and increase in your the about a What revenue the expect, margin guess, margin much can April delta from is of Medizin. $XX.X $X.X as million through a margin a more vertical or just SuperStore What gross could gross from and is -- from we move revenue difference do you you -- more I benchmark we think say in the, can gross as what in we percentage margin? gross grow? traffic,

Bob Groesbeck

Yeah. we getting gross Like, margin gross XX% can margin think sort does lower high specifically retail to to lower wholesale. a margin a of store and not XX%s, just we margins. margin, does ticket how And I of, vertical always then comfortable revenue basis, all in gross that to overall, of And range, in into on gross Nevada SuperStore local of Doug, range even XX% on the gross the on the that cultivation. would discount in to because get that impacted. say, Medizin terms the obviously, size the But we are gets discount. have sort our compared Wholesale depending to the necessarily company have XX%, XX% XX% average we the the

Doug Cooper

Okay.

Bob Groesbeck

kind And ability we mentioned, Larry is towards product and we XX% want from of those concentrate improving kind trying in more our of we and in beverages flower. facilities on where cultivation terms to categories to skews the that. of and those the products we revenue in hitting enhance brands are grow and flower have fall working coming close XX% down the of where as are -- that edibles spending to the to We the be money, each of

increase So a flower if the to I gross see the XX%. not the that’s we But margins in short-term view. we think to an can got

Larry Scheffler

to we’re Yeah. ago. that of right help bought course XX now, just out on to dramatically. that, just in best planting adding And in square XX,XXX that plans adding out of will -- the nine on we square the building of about Again, clarity will feet months generally be XX,XXX -- now XX,XXX foot which have we’re also stages our more cultivation of built

Doug Cooper

Great. Okay.

Bob Groesbeck

-- but that that there will may the dramatically us on it target. move to still will way flower It more to on we get will bit need XX%, a

Doug Cooper

XXX So basis another anyway XX%, you were where from basis points, XXX right? points

Bob Groesbeck

we -- think so, as Yeah. That go. yeah, we

Doug Cooper

Okay.

Bob Groesbeck

takes now, I have we I Unless would really the number. to we’ll and massive growing market But with revisit and comfortable wholesale right in off that everything get that is we -- think get to that. wholesale

Doug Cooper

one last on I…. the And just margin, gross the

Larry Scheffler

yeah… -- And

Doug Cooper

Sorry about that. Go ahead.

Larry Scheffler

can do people line maybe had morning If what a No. even get But No. quick and how we want. to of this and in know shop been a don’t I and add out stop where quick in that already and we’ve the to items want No. meetings just that shop wait you stop line. to where you for

the be selling go products, a XX the get on that profit for people away and they’ll wait margin to hour weekends. products Medizin Planet to than We will much is which other much, pre-selling only and an the pasture higher without people’s up having drive

Doug Cooper

Okay. you Cash do some warrant of different cash is what $XXX it March the exercises as more that? in subsequent, is and get million

Bob Groesbeck

Dennis?

Dennis Logan

about that. mute. was Sorry Yeah. on I

had since So we in the of March. end more more have exercises come and

in. the put XXX,XXX want that of share priced probably, and But price we of I in is, terms are of think depending and coming MD&A XXX,XXX warrants the still that have, the September where the XXX the level. are it to warrants out number XXX on say, in I July to we at

the warrant well couple from the exercises had financing November some We’re from even then of as and financing. seeing a February

price more obviously, share us the those of better in any warrants opportunity moves up, for cash. terms of take the to as So

Doug Cooper

guys you anymore? basket Okay. a final size, you And sizes have do just -- basket my publish do one, just

Bob Groesbeck

them, July. I haven’t published they’re back in mean, Doug. We

before to COVID. to given the We’ve related then to seen obviously So still May the January, they from we in COVID. April down February, and return March -- them just were through kind slowdown shutdown them of as the and from where had

in would bit but… the So a XXX SuperStore, from tourist customer versus customer lower Obviously, that like they’re at that say they’re range. XXX, I the local Medizin in --

Doug Cooper

Yeah.

Bob Groesbeck

So, overall, range. in blended that

Doug Cooper

Okay.

me. I think that’s guys. it workers for Great

Bob Groesbeck

Dough. Thanks,

Larry Scheffler

Doug. Thanks,

Operator

Our Instructions] Greg with from your question Gibas with question. Please comes [Operator proceed next Northland Securities.

Greg Gibas

afternoon, Larry, and for the Dennis. Good Bob, Thanks questions Hey. taking and…

Bob Groesbeck

Hi.

Greg Gibas

congrats again about next quarter are and sales start kind how due to the QX as I tourists thinking to that of of on ramping increased to tourism? the How Good marketing quarters, once want you’re the several with to about the about you over … overwhelming return? hear. well. nice ask and thinking with demand kind matching the

Bob Groesbeck

Yeah.

Dennis Logan

is Dennis. it Greg,

Let and me the I’ll Bob, part, address one turn it over you.

Just on the…

Bob Groesbeck

Okay.

Dennis Logan

slowdown largely … in and January, in the et fewer drops, on the February, cab QX, the result tourists of cetera.

back of kind XXXX. our QX, -- turn And see focused how to in as So we’re was California. on of over are of to County going QX QX Bob I’ll of Vegas, to in revenue a it kind talk think, ramp that go in about up But then it percentage Orange the more all local of we dial to going it we I as immediate similar advertising returned forward customer. to

Bob Groesbeck

Yeah.

hi, So, Yeah. Greg.

spin So, from local as again we’re indicated, the back Dennis Vegas, customer that we’re a tourist. obviously, shifting to

going whisk Larry I of signage, with reengaged, vans vehicles the every we’ve cab day, rolling touring going upwards hours. our for from XXX MD&A, -- And onto we’re think has on the to customers back So back earlier, mentioned the in cab out facility. put should XX our program, and road as rep they’re the out our instance, to streets new indicated back also

already them tourist market locals us really continue that the to capture are we’ll know Las And spend it’s for in for aggressively customer. Vegas us primarily more is of now Medizin, -- price. there to with familiar about So directed but again, the they

entirely competitive California an markets. massive animal, So we there. be is just need some to different

the to market. We’re new

Orange So and sectors, the region course, to the focusing adjacent County on parks, amusement of going aggressively the we’re the again, spend beaches, and where can in tourist shopping. greater we area in the to

the more take about that opportunities the we’re of given for But down to excited pretty to just ramp going market. the a it’s So bit there. size time

Greg Gibas

done different, you’re a the bit but it. I job it with helpful. great That’s guess, Got in Yeah. in you’ve a right, past. And Vegas

vehicles. So to I I there, was remember kind last it’s those hard of time miss

So to good hear...

Bob Groesbeck

You next the won’t time. Exactly. miss

Greg Gibas

couldn’t your and while California once talking July OpEx prepared store in You remarks, online. If we’re G&A I about this are Dennis, talked a revenue percentage up right. comes to, going as about hits up follow I guess go of then how percent will again how to of as degree a think of much up it do I declining a maybe take would a you to would long you just ask, revenue? as start expect percentage that and you

Dennis Logan

Yeah.

and opening, SuperStore. the XXxX return see expansion there in that So terms come associated of their the operating the SuperStore. look the revenue we’re the operation the at County, people QX the that through that you in have the much, can’t many, how to leading of number I at some how hiring people up no those so of and to relative with Bob, I remember who employees size, in obviously, to SuperStore people will hiring number and Orange of we’re the of for, the

revenue additional revenue, So you’ll coming back up I we that up, will in quickly California go much going and see to come guess, as Vegas. on -- quickly kind in it ramp revenue Las up ramp I how a we of go as to depend of how expansion it’s how think, from percentage

of where I were I of plans a ramp type a revenue, in So as of And it’s in an terms what County, we QX from significantly percentage in Nevada we XXXX expect similar Nevada. I ramp. of our don’t see perspective basis in think sort Orange going above because the in, G&A as will a from on operational I understand revenue QX, said, in

back but by So slightly higher should for sure. we turn may of see a down the two quarter quarters year G&A, the of end to

Greg Gibas

right. All

too, and maybe store haven’t relatives SuperStore, But helpful. you’d be many how it’s any or That’s there’s Orange get it’s willing of know will I points of share, traffic type Yeah. Vegas provided County the any if there? at to you’d there. Great. sale expectations Okay. early did customer the anything location. want you to rough commentary that whether I ask guidance have in Las

Larry Scheffler

XX another registers with and the County registers adding Well, scope expansion, an Orange on and going open idea you Vegas the with here. we’re to give XX facility, we’re scale to

larger down Greg, X just going you’ve important it’s thing here focus in County. to considerably there, you’ve one be that, roughly So to million on got and just I But think, lot the a people Orange rooftops more is initially. got

see down what built there the to in we’ve more delivery be than opportunities here significant Vegas. we even Las So

that the at to in customer something experiences with course, really OC on the focus tourist providing conjunction, it’s So facility. we’re of and servicing going entertainment

Greg Gibas

nice guess be one mean, last to I remarks. Yeah. when expansion following didn’t your or rooms that I online? I remind cultivation this the you the just to hope come for Great. can up. expected And me about harvest I hear us Makes in additional prepared are sense. would that But opportunity. miss just

Bob Groesbeck

there with are coming now our rooms genetics. Well, online

has that expansion. Larry the last happening XX XX days, going through here talking that expansion That physical days. So is It’s the the for been was permitting now. about

some course, aggressively we at So receive the we’ll build of end to space we’re forward seeing of tunnel our think move light the all balance and out. close once that the of to then we there of permits,

Greg Gibas

Okay.

Thank good. you. Sounds

Bob Groesbeck

Yeah.

Larry Scheffler

Thanks, Greg.

Operator

today’s does are conclude And reflect conference the with that, ladies This no call. questions as our and queue. question-and-answer session, gentlemen, well since as further there in

day. at this time. disconnect for lines You may you participation Thank wonderful a your and have your now

Larry Scheffler

you. Thank

Bob Groesbeck

you Thank all.

Planet 13 (PLNH) 28 May 212021 Q1 Earnings call transcript