Interview NUGS
PennyStocks.News – Simon Yu, who are you, what’s your background, timeline, how did you start cannabis strategic ventures?
– CEO, Simon Yu – I’ve been in sales and operations most of my career, specifically in healthcare and healthcare sales. In 2012, I decided to go back to school to pursue my Masters in Business Administration from a top 20 MBA program at the University of Southern California. Not too long after I graduated, a friend approached me and told me about his legal cannabis business. I was very excited about the prospects of the cannabis industry as a whole and the upcoming legislation changes in California’s 2018 legalization. I saw an opportunity to marry the capital markets and cannabis and went ahead and completed the reverse merge in 2017 to form Cannabis Strategic Ventures.
PennyStocks.News – What do you want people to know about cannabis strategic ventures?
– CEO, Simon Yu – The industry is very complex and many different external market forces drive the industry. Although the industry complexities are far greater than any other industries out there, this industry has one of the largest potential upsides – I’m looking forward to the future, especially with changes to national legislation and the continual legalization from state to state. We’ve seen it happen when California became legal in 2018 and the industry went off the charts.
PennyStocks.News – What are your vision and mission?
– CEO, Simon Yu – We want to be the Anheuser Busch of Cannabis and build a quality brand that is accessible to the masses.
PennyStocks.News – Can you tell us about the share structure and a potential reverse split in the future?
– CEO, Simon Yu – There are no reverse splits planned for the future.
PennyStocks.News – Why are your financial filings not audited?
– CEO, Simon Yu – We currently are working on plans to start on a two-year audit that will hopefully qualify us for an uplisting.
PennyStocks.News – If people would want to buy your products, where can they do so?
Can you tell us more about what you currently have:
LYXR (skincare)
Asher wellness (pets CBD)
Budhire (HR)
– CEO, Simon Yu – We no longer are working on these projects. When we got our farm in 2019, the company decided to spend 110% of its resources to build the farm. We didn’t want to dilute ourselves. We knew with some certainty that if we got the farm operational that it would provide value back to our shareholders.
PennyStocks.News – You mention in your latest press release that NUGS is one of the largest publicly traded marijuana cultivators in the United States. Can you tell us more about this?
– CEO, Simon Yu – At the time we were one of the larger ones based on size and number of licenses.
PennyStocks.News – What makes you stand out, why are you different? During the pandemic you mentioned: “We hit the gas pedal when everyone else was hitting the brakes…” what differentiates you from the competitors, explain in one sentence.
– CEO, Simon Yu – The pandemic year was very important for us as it was our first full year operating the farm which means that we were constantly harvesting on a rolling basis. We also had a lot of projects, to improve the efficiency of the farm, scheduled. Although the pandemic hit, there really wasn’t an option to hit the brakes.
What differentiates us is our operational team that has experience working on large-scale operations. There are many out there who are great at what they do in their current operations but once scaled to a large multi-acre operation the challenges are amplified 10x.
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