E69: Cannabis Investing Explained - Regulation, Capital & Growth

AIME Episode 69 Transcript
Sarah Florer (00:12.079)
Welcome everyone to Alt Investing Made Easy. Today we have a great guest for you. His name is Hans Enriquez. He's a longtime friend and I think also client. And he is here to tell us all about investing in the cannabis industry. Hans, welcome.

Hans Enriquez (00:36.621)
Thanks for having me on. How's it going? Hey Roland. Hi Sarah. Thanks. Thanks for the invite.

Roland Wiederaenders (00:39.481)
Hey, Hans, welcome. Thanks for being here. Yeah, yeah, who, let's.

Sarah Florer (00:42.895)
We also have an extra visitor who's taking a nap. Lil Hans. He's already making his debut in the podcasting world.

Hans Enriquez (00:46.009)
This is Little Hans. Little Hans Wolf Gang.

Yeah.

Roland Wiederaenders (00:54.491)
That's great. Well, yeah, hopefully we'll get some likes just for having an infant on the program.

Sarah Florer (00:58.701)
Yeah, let's see more of that baby. No, I'm kidding.

Hans Enriquez (00:58.777)
Yeah, he's cool. He's chilling. Let's see if he behaves. I think it'll be alright. Here's the other one too.

Sarah Florer (01:05.795)
I'll see. Yeah, I know. He can have his say too.

Hi there. Hi, how are you?

Roland Wiederaenders (01:11.831)
nice.

Hans Enriquez (01:13.773)
This is snow day, so everybody's home.

Roland Wiederaenders (01:16.153)
Yeah, for sure.

Sarah Florer (01:16.217)
Yeah, we're all familiar with what just happened in Texas when we're filming. let's see, Roland, sorry I interrupted you.

Roland Wiederaenders (01:23.417)
yeah, no worries. And yeah, Hans, welcome to Alt Investing Made Easy. And yeah, we've been friends for a while. We were kind of reminiscing and both paying attention to the cannabis industry in Austin, Texas. And for sure, Lazy Days has been a thing for a while. But why don't you tell us what the current iteration is and what it is that you spend most of your time focused on nowadays, Hans?

Hans Enriquez (01:30.777)
We still need a baby toy. Thank you, everyone. Thank you, everyone. We shall see.

Hans Enriquez (01:53.625)
Yeah, I'll try and keep it short. It's taught me if I talk too much. currently, you know, my role, well, I'm Hans Enriquez, CEO of MedEx Holdings, which is a publicly traded company. It's the parent company of Dazed Inc., which owns all the IP and which is of Lazy Days. And I'm the founder of Lazy Days. Lazy Days is going on 21 years running. We started within the smoke shop industry because it was a

Roland Wiederaenders (01:57.945)
No, it's great.

Hans Enriquez (02:23.579)
adjacent and you know complimentary and ancillary to the cannabis industry and then we you know we were able to you know trademark it and license it and we begin

franchising the concept and over the years that original franchise concept which was you know a smoke shop in a box has evolved into an Amsterdam style coffee shop which you can which we are now planning to grow across the country. We've got five operating locations we just awarded five more franchises and my day-to-day role is kind of operating top-down right you know as looking at the most macro issues you

or macro growth strategies and still, we're still small company so I still work on many micro things too, as SOPs, operational things and compliance especially because we are cannabis which is always fun and paying attention to legislative stuff going on always.

Roland Wiederaenders (03:29.487)
Yeah, you know, this is so interesting because I don't know that people really appreciate how big the cannabis market is, but still how fractionalized it is relatively. we're sitting here in Austin, Texas. And, you know, amazingly, you do have three locations and I'm sharing the website and you've got three locations here in Texas. you know, maybe tell us a little bit about the legal status in Texas.

of cannabis and what it is that you make available legally from these locations here in Austin.

Hans Enriquez (04:06.733)
Yeah, yeah, so we operate under the 2018 Farm Bill, which allows us to sell hemp and hemp-related products. And in the state of Texas, the state of Texas does have a hemp program, so we are licensed hemp retailers and manufacturers, which allow us to sell hemp and consumable hemp products, right? So we, at a Lazy Day store, you can walk in, you can order a latte or a matcha, you can ask for

or it infused with some THC, CBD, some health and wellness mushrooms, something good for the mind or the body. And you can order yourself a pre-roll hemp joint or get yourself some hemp product and you can sit down and consume responsibly and open up your laptop and sip on your latte and just be. Or meet some friends or set up a crocheting community event.

Sarah Florer (05:05.563)
Thank

Hans Enriquez (05:06.587)
or enjoy a market that we're having there. So very community-oriented coffee shop. We're allowed to do that under, like I said, the federal hemp bill, as well as the Texas regulations. And then Roland mentioned that it's very factional, or fractured, sorry, and that is just because of the...

I would say technical or legal differences that they put on the two terms, cannabis and hemp. And we also operate in New Mexico, which would be under cannabis laws and that states rules and regulations. so we're in adult use, we have a full consumption lounge license and we essentially have the same concept. We want to have that same Amsterdam local coffee shop style feel and open up as many of these as we can in every market.

allows it.

Sarah Florer (06:03.227)
So I lived in New Mexico a long time ago, 25 years or more, and it was in the early days of Governor Johnson. it's really, I think, been very interesting to learn about how what he was talking about then, which was legalization, has now turned into a completely viable and very large industry. And I think that was what his vision was then.

I was very young then and not really into politics necessarily, but I always thought he said a lot of sensible things. but secondarily, maybe between you, Hans and Roland, you sort of lay out for our viewers the basic issues in the cannabis industry that we're talking about, because every state has its own ability, obviously, to legislate as a state. And then there's a federal law overlay and there's some complications that come from that. And there's some changes that have recently happened.

Roland Wiederaenders (06:55.353)
Yeah, Hans, take that. You're the expert. Hans, Hans, you answer that. Yeah.

Hans Enriquez (06:55.725)
I could talk forever about.

Sarah Florer (06:56.315)
Whoever wants to start.

Hans Enriquez (06:57.889)
I could talk forever about this, right? But I'll start with, a federal level, even with Trump's executive order, this has not been signed into law. So as we sit here today, cannabis is still schedule one federally legal substance. And that creates a tremendous amount of confusion where you have over half the country with either cannabis medical or adult use or laws. You've got states with

hemp laws and then we have

a scientific argument between botanists, whether this is cannabis and hemp are the same plant. So you've got misinformation, disinformation, lack of education, and you've got contradictory laws between federal and state. So they're at a highest level. Then you've got, the industry in general, you've got...

lack of consistent rules and regulations between states, but now you also have a lack of capital, lack of access to funding, lack of access to financial services. And that has to do with payment processing, basic banking, know, overkill of compliance for banking services. And then you've just, you've got,

confusion across the board.

Hans Enriquez (08:34.337)
and we operate that in that environment. And then you have the ever-changing laws that happen almost daily. And you're supposed to find a way to operate a sustainable, scalable business in that environment. And that's near impossible. It's very difficult. It is the highest of the highest challenges. When we're talking about macro, that's the deal, right? And then we're trying to normalize this.

penetrate the market, get into mainstream and operate like your normal businesses.

And we could be regulated like a farm commodity product such as corn or coffee or anything like that. You could be regulated as building industrial products. You can be regulated as intoxicating product like alcohol. You could also be regulated as medical products, like over the counter, either Tylenol or something that's prescription. So you've got a lot of different things that also need to be ironed out between the industry.

and how large is the industry is nobody knows right but you know 100 billion this doesn't at all taking consideration black market, gray market and all of these different layers of viable businesses within this industry.

Roland Wiederaenders (10:02.364)
And so that's the really exciting thing, I think, as an attorney representing people doing securities deals and trying to finance small business. once this does, the law is just like you reference Trump's order and what that is is rescheduling from schedule one to schedule three. What that's gonna allow for is, as I understand it, the banking problem will be largely addressed and then...

the 280E, right, from the Internal Revenue Code that currently says that because you're dealing in a Schedule I substance, you can't take any deductions of your cost of doing business off your tax return. So it's really unfair taxation. So this rescheduling could really, seems to me like it could really make a big difference in businesses that can otherwise operate legally and...

Sarah Florer (10:46.575)
Hmm.

Roland Wiederaenders (10:58.48)
You know, I just, wonder about Texas though, Hans, what's going to happen here? There, there is a hemp ban, right?

Hans Enriquez (11:06.52)
I mean when is there not right? So what is there not something coming up? But there's a potential hemp ban. Yeah, there's a potential ban on smokable flower. So can that be detrimental to the business? Yeah, absolutely right. But this is something that's a little bit different from you know in our case.

is having to hedge it right like I mean we have to like kind of create this differentiator so sorry guys no he's done

====================================

Roland Wiederaenders (00:06.36)
But yeah, just to finish out that one thought, Hans is like, when have you not dealt with a band? And it seems like at this point, maybe with the smokable hemp and everything, the genie's out of the bottle, maybe.

Hans Enriquez (00:27.99)
I've got my theories on a lot of things, right? But let's say in Texas, I think because ultimately this is gonna be a state's thing, a state's rights thing, right?

And I think Texas wants to create their system before this goes federal and legal. So I think there's a rush to make some things happen. I think there's some special interests that are funding the lobbying, which would be alcohol, which would be potentially some MSOs that are looking to enter the state into the medical program. I could be wrong, but these are my theories.

Roland Wiederaenders (00:54.66)
Mmm.

Sarah Florer (01:10.072)
Mm.

Hans Enriquez (01:15.594)
Why not? mean, from a business perspective, they need to have...

take advantage of the advantages, right? And so, now, is there always a hemp ban in Texas? Yes, has a lot of these, like, have all of them passed? No, actually the last one that was going to pass was vetoed by the governor, so I believe that we do have the governor's support. He is pro-hemp, he is pro-farmer, he is pro-money, he is pro-business, so we're looking at that perspective, right? And then a lot, I'm an optimist, so I think common sense will prevail,

because that has to do with money. I think Texas is also very big in states rights, so I think they'll create their program. And if we're reading between the lines and how it stands today, Texas' hemp program is probably one of the best quote unquote hemp or cannabis programs in the country because it is not exuberantly taxed, licensed, it's an open market, there's no opting out.

Sarah Florer (01:53.996)
Mm-hmm.

Hans Enriquez (02:20.553)
anyone can participate. Does that require regulation? Absolutely. We don't want kids to have it. We don't want to make sure there's restrictions, regulations, proximity, some type of fee, and requirements in compliance in order to have safe products on the show. So I think Texas has an excellent opportunity to do it right. So we'll see.

Sarah Florer (02:45.366)
Cool.

Roland Wiederaenders (02:48.643)
Well, yeah, and that's one thing I think that, you know, while we did mention the public company aspect of this, that there are opportunities for entrepreneurs and you have franchises and going to someplace like New Mexico or another state that, and you said that you had five new, so.

Hans Enriquez (03:06.174)
Yeah, yes, so we've got five currently operating and five coming up.

Roland Wiederaenders (03:11.736)
Yeah, that's so exciting. Hans, what can you talk about where the new locations are?

Hans Enriquez (03:16.916)
Yeah, yeah, yeah. So we're going to be opening one in San Marcos, Texas, one in Houston, Texas. The one in Houston is going to be really cool. It's going to be connected to this new development that's part of Meow Wolf. So if you know what Meow Wolf is, literally as you exit Meow Wolf and you just had an experience, you're going to go hang out and get some coffee too. So yeah, so that'll be cool. And then we ordered a three pack in Maryland. So we see those coming up in the next, hopefully the next six to 12 months.

Roland Wiederaenders (03:28.786)
yeah, for sure.

Roland Wiederaenders (03:34.628)
That's great.

Hans Enriquez (03:46.803)
Las Vegas, we put our name out in the Las Vegas lottery for consumption lounges like about two years ago. So what happened in Las Vegas is the groups that were awarded those spots in the lottery that have yet to open and operations, the next group was already given those opportunities. And that had to do with...

connected to a dispensary. So we're a standalone. So it's just a matter of time till we're the next shot because we did put our name in there and none of the groups that got those lottery tickets have opened. And really at this point, I think there's only one lounge open in Las Vegas. So we think our simplicity and our footprint.

will work in Vegas. I know it well, just a matter of getting it done.

Roland Wiederaenders (04:44.612)
It's awesome.

Sarah Florer (04:45.398)
That's cool. So let's go. We were talking earlier, Hans, about the tie-in here to all that investing made easy, apart from the fact that this is obviously as a new industry and an industry that's undergoing change that's bringing it closer into traditional systems. There's great opportunities to invest. But let's hear about what you were saying earlier about these different paths to raising capital that you've explored, many of which would qualify as a...

Hans Enriquez (04:55.018)
Yeah.

Sarah Florer (05:14.694)
know, alternative investing for someone.

Hans Enriquez (05:18.271)
I, know, creative, alternative, resourceful, however you want to put it. I mean, raising capital is, or cash flow is the lifeblood of any business, right? So, this is a great form to talk about kind of why and how we arrived here. So, back in the dinosaur ages when I started this,

You know, so trying to funding or investors for a smoke shop wasn't easy, right? I mean, and as much as we wrapped it up in a bow and put lipstick on it and made it as clean and...

made it our own, it still was a smoke shop, very little differentiation there. But we felt we had a better mousetrap, right? And what we originally wanted to do was create a brand and an experience that would be around when legalization happened, right? And this is 20 plus years ago.

And so we were waiting for it for a long time. And so then as we were growing, one of the ways to organically raise capital was to license yourself or to franchise, right? And so the question at that point was, well, how would you organically raise capital and sales cures all, right? Well, then sell the franchise, sell it as a franchise, sell the opportunity. So when we opened up our first store, I think two years after our account,

Sarah Florer (06:22.616)
you

Hans Enriquez (06:50.392)
I was selling the first store in Laredo and the accountant asked if she could purchase it from us. She knew the numbers and so that was my very first venture into licensing the business. And so I knew there was an opportunity there. Lots of people like myself wanted to be involved in cannabis, but you wanted to do it legally, right? So doing it legally would be having an ancillary business, right? So the question then was, can you scale this, right? And the answer was simple.

Yes, of course we can scale this right, but that is Easier said than done because then you have to really explore. What does it take to scale? That is the most challenging part, right? So the franchise opportunity has allowed us to grow Learn more I didn't come from a pizza background or owning 17 subways or anything like that, right like so Along the way we franchised it out

Sarah Florer (07:35.18)
Hmm.

Hans Enriquez (07:47.807)
Some worked, some didn't. So those are the trial and errors, some of the growing pains of creating the brand, scaling the brand. And so that was one way of raising capital, right? And it was very simple. Someone was like, well, just sell 100 franchises and you have all your money. you're like, well, yeah, easier said than done, of course, right? And then you realize, well, what does it take to sell that many? Well, I need X amount of leads, X amount of qualified leads, X amount of closes over time.

So then what does that turn into? It turns into residuals, right? It turns into royalties. There's distribution model behind that. there's, you know, there's, then we went back into some of the things that we talked about, you know, as far as the challenges in banking. Then there's payment processing involved in that. so putting this whole stack together, right? But that's how you organically raise capital. You just grow, right? I mean, you build.

business model. that's kind of franchising was one way, right? Or selling. If you want to raise capital, sell your knowledge, sell the value that you've created, sell it in a package, know, sell that experience. If you've got, you know, a concept or model, that's one way, right? Because otherwise, you're just going to be sitting there waiting for someone to invest in you. It's not going to ever take off, right? So that's one way, right? Sell your time. that.

Sarah Florer (08:49.538)
Hmm.

Hans Enriquez (09:15.018)
you there. So along that way we had been involved in some of the earliest forums for

cannabis companies going public, right? So the cannabis investment forums and back, was called ArcView. ArcView is one of the first ones that was connecting investors with startup cannabis companies. And so we began pitching in those forums, right? And gaining experience with pitching and putting together decks, talking to investors, learning that.

that bridge, how to connect the bridge of us, counterculture and investment. Along that way, we've been offered to go public quite a few times. And never seemed right, but from an entrepreneur's perspective, that's the ultimate, right? Wow, I've gone public. And so, after not taking those deals and

Sarah Florer (10:13.708)
Mm-hmm.

Hans Enriquez (10:22.776)
for X and Y reasons. But in hindsight, I had to reverse engineer. I'm like, why did it sound too good to be true? Who was getting what?

Sarah Florer (10:31.512)
Hmm.

Hans Enriquez (10:33.932)
you know, who is getting effed here, right? And I remember meeting one of the guys who took the deal, right, in front of the investor who put that deal together. And I kind of shook his hand and I wasn't sure who was the sucker there, right? I wasn't sure, but somebody felt that way at that meeting. And so I reverse engineered it and I learned how to put it together. this was multiple times, right?

So I was like, all right, well, one person who is so inclined, who wants to take the company public can do it. amount of days, right? So I was able to locate a quote unquote shell or a company that was for sale, a public company. And I was able to put the deal together where I was able to.

Sarah Florer (11:11.106)
Hmm.

Hans Enriquez (11:25.343)
take control of it, get the majority shares that I needed, and then I rolled up all my private companies into that. So then we got that vehicle, the purpose of it was to be in a position for &A, to be in a position to exit when that time came, right, in legalization.

Sarah Florer (11:45.58)
Hmm.

Hans Enriquez (11:48.248)
And along that way, we're looking for banks. I can't even count the amount of banks I've been shut down. I can't even remember how many. I can't even count how many times I've lost payment processing. I'm on a special list when it comes to payment processing. And we offer that as a service, too.

And sorry to make it so long winded, like it's, you know, that's the journey, right? And, so, and, and as we are today, I've got all of the private companies that we were operating, right? Which was the lazy days coffee shop, the dazed ink, which, which controlled the franchising and distribution aspect of it. And, smart brand digital, which will control the marketing and the tech aspect of it. Those are not now all my private entities under med X. It's my job to make sure that all of those subs.

Roland Wiederaenders (12:15.618)
No, it's good.

Sarah Florer (12:16.48)
That's great. Yeah.

Hans Enriquez (12:43.289)
generating revenue and you know and I you know basically my role is up here at this is in the holding company right and so going back to alternative ways right I mean I mean bad loans along the way merchant cash advances from your payment processor which are 25 50 75 percent interest right you know

Bad deals that happened with partners. It wasn't all rainbows and sunshine. It's always been a challenge. And even as today, we are still raising capital. And that's for the growth. And you realize, well, now I'm in this position where I'm the franchisor. And as the franchisor, we want to own.

Sarah Florer (13:21.494)
Hmm.

Hans Enriquez (13:34.37)
real estate and that way we're not just spending money on rent and those are now revenue generating assets right which add value to the public company which add value to the franchise which gives us additional control over the brand and all of that so and and every

time along the way there's been another headline that tells the investor don't touch cannabis right and and and and and it's like without fail right because there's all if i'm trying to bring in investors or franchises and they see a headline that says isn't flower going to be banned in in texas right isn't like that your whole business model but like we are hedged against it too right i mean we're not just cannabis or hemp but we've got

coffee and mushroom infusions and you know our themed concept can work well in any market. But to stay on topic about alternative investing is and we've tried crowdfunding too right and you try crowdfunding and you can't find a platform that will

Sarah Florer (14:30.614)
Hmm.

Hans Enriquez (14:40.797)
that will crowdfund cannabis or since we're publicly traded, they won't crowdfund a publicly traded cannabis company, right? Or even if I were to try to just go the traditional routes as a coffee shop, we've been around since MySpace. So any due diligence, you're gonna find us on the web somehow, some way, and we're touching the plant and being involved in it.

We operate under the same rules and regulations as guns and the most restrictive products that you can sell. And it's actually easier to buy guns than it is to buy cannabis. And so all every which way, every deal you can think of, every creative transaction, I mean we've...

Sarah Florer (15:34.21)
Hmm.

Hans Enriquez (15:35.065)
We've seen it or attempted it and I think in cannabis as an entrepreneur, I think sales cures all, sales above all, cash flow is king until you reach this...

Fundamental thing right? think you just need to show fundamentals like every investible business wants to show right? Because the days of just being the next big cannabis company is long gone

Sarah Florer (16:01.293)
Mm-hmm.

Sarah Florer (16:11.42)
I just want to, I think it's really interesting, just one comment, and that is when you're a publicly traded company, a lot of times there still is a lot of private capital raising that you're doing throughout a group usually, and it can be complicated to structure it, but I think that's an interesting thing is that once you've gone to be a publicly traded company, it's not...

It's not the end of the story on other ways of seeking capital or raising capital, particularly debt is an obvious one. that I think is kind of an interesting thing with the relationship between what we call private investment versus public investment.

Hans Enriquez (16:37.166)
No,

Hans Enriquez (16:45.816)
Right, and you would think that all of a sudden you're publicly traded and it's going to be so much easier, but no, now we've got additional regulation, we've got different compliance issues, we've got ongoing operational costs. But I think...

Sarah Florer (16:53.89)
Mmm.

Hans Enriquez (17:04.959)
I think that it was the smartest move possible, know, but it can be also looked at as you did it way too early, but well, so what, you know, so what, you know, the next person, which is they would have done it. I think it, it gives me the experience, a lot of the experience of operating the company.

Sarah Florer (17:13.548)
Hmm. Hmm. Hmm-hmm.

Hans Enriquez (17:28.44)
And even as a kind of a green, you know, public trade CEO, I have a lot of experience, you know, from the, the, to the, comparison to the next guy, I would say.

Sarah Florer (17:34.487)
Yeah.

Sarah Florer (17:39.114)
Yeah, for sure.

Roland Wiederaenders (17:41.55)
Well, Hans, we want to be real respectful. Sarah, sorry, what were you going to say?

Sarah Florer (17:45.879)
no, no, I was sorry, Roland, go ahead.

Roland Wiederaenders (17:48.024)
Well, you we try to keep these, you know, pretty tight, you know, at 30 minutes. So I think this has been good so far. mean, Hans, I guess, you know, we brought this up at the very beginning and it sounds like family is really important to you, know, and so we always like to kind of talk about personal things as well, any personal drivers or personal things about Hans and Rikas that you would really want the world to know.

Hans Enriquez (18:17.267)
wow.

Sarah Florer (18:18.424)
No.

Roland Wiederaenders (18:19.672)
put you on the spot.

Hans Enriquez (18:20.83)
I don't know. don't know. Just don't forget to listen to music or something. Yeah.

Roland Wiederaenders (18:27.075)
Well, so I'll say something, Hans, because I know you and I know you to be a really compassionate person. And I know that with the lazy days concept, you're trying to create a community space, create community. know, you're involved in an industry where a lot of people look at cannabis as medicine. And so I think that's something that I've always gotten from you, Hans, is just this sort of benevolence, you know, this desire to not only do well financially, but do

Sarah Florer (18:27.362)
Hahaha.

Hans Enriquez (18:40.738)
Yeah.

Roland Wiederaenders (18:57.092)
do good in the community and try to bring about a place of health for everybody. And so instead of just putting you on the spot, I'll give you a compliment. That's always a vibe that I've got.

Hans Enriquez (19:07.981)
Yeah, I appreciate that. I was going to say something about community, so I appreciate you saying that. You know, I had a conversation. was talking with, I had an interview with The Austin Chronicle yesterday, and I brought up community, And what we do, you know, as far as like community building, and this is, I'm super proud of this. I'm super like blessed by it, The space is there for community building.

Sarah Florer (19:08.844)
Hahaha

Roland Wiederaenders (19:19.868)
cool.

Hans Enriquez (19:35.897)
I've seen it happen while sitting in the chair in the corner like a fly on the wall and just watching people meet.

people that would have never met, people that haven't seen each other in years find each other there, right? The train is left without me. The place builds community on its own. It's all inclusive, it's welcoming, it's normalizing cannabis. I think cannabis and alternative medicines have a place that they're from the earth. I think this is a place where people can get informed, educated, feel

comfortable and welcome in that lifestyle and having that type of mentality.

And it's great to see it just, you know, it's a, what do I call it? It's just like a vortex that brings people together. And I've seen it naturally happen over and over again. I think that's what makes Lazy Days very special because cannabis is very communal, right? can be ritualistic as well. So can coffee, so can matcha, so can tea. So these things all really come together and it's really, really, really, really neat to see.

and you go, wow, it works. And I'm so happy and blessed and grateful. I've done it all from having to hold drywall up to put ceilings, know, broom rainwater off the roof or make a thousand cups of coffee. And I'm just so grateful that like I'm in the position I am today that I can spend time with my kid. Like I can do this, right? I can have an interview with

Hans Enriquez (21:20.03)
my kid and my son in my lap and I don't necessarily have to go serve coffees every day anymore and so I'm grateful to be in that position I'm really grateful that it's

It's really building a space for communities and people say, hey, thanks for the space. I'm like, no, the space is for you. It's not for me, right? And so that's super cool. And I just want to bring that everywhere. want to bring, if you love coffee, you love cannabis, bring them together. And then, you know, in business, like you said, I want to be successful and successful and wealthy and health and family. Everything else will take care of itself.

Roland Wiederaenders (22:06.98)
That's great, Hans.

Sarah Florer (22:08.418)
You know, having just met you, Hans, I feel like we're really lucky to have gotten to interview you today. So thank you for your time.

Hans Enriquez (22:16.129)
Thank you guys. Now I appreciate Roland. Always good to see you and talk with you, dude. Super, super cool. Thank you for the invite. Thank you guys. And I love this. this for a living. So yeah, it's fun.

Sarah Florer (22:28.28)
Great. All right, shall I wrap it up, All right. Thanks everyone for joining us today here on Alt Investing Made Easy. If you liked this episode, please like and subscribe to our channel. Also, we'll have some more information about Hans Enriquez and Lazy Day's coffee shops and overall his organization in the show notes. And I would just offer here, you know, if anybody wants to leave a comment about further interest in this industry,

Roland Wiederaenders (22:30.455)
Yeah.

Sarah Florer (22:57.752)
It's something that we could do some further detailed episodes on in different contexts, Hans, with your assistance or with anybody you might recommend, anybody else that we know. thank you for... Yeah? We'll be part of the community.

Hans Enriquez (23:08.397)
Yeah, yeah, there's a circle of us that love to talk about cannabis. So yeah, I appreciate it.

Yeah, yeah, and a little plug, mean, check us out on lazydaysshop.com. Hopefully there's a store near you and then you can get orders and cannabis and coffee to go. If you're an investor or developer and want to develop a part of the United States or something like that and grow with us, check out lazydaysfranchise.com. And to learn a little bit more of our public company, check out medxholdings.com.

Sarah Florer (23:21.997)
Hmm.

Sarah Florer (23:40.866)
Great. We'll put all those down in the show notes. So, yeah, thanks for being here today, Hans. And thanks, everyone. Cheers.

Roland Wiederaenders (23:44.345)
Yeah, for sure.

Hans Enriquez (23:44.494)
Rock and roll. Hey, thank you guys. Enjoy the rest of your day, Cheers. All right.

Roland Wiederaenders (23:53.367)
All right, well, that was a great episode. And hopefully we've recorded it, caught it, captured it. think Hans kind of checked out of it.

Sarah Florer (24:22.488)
Okay. So I'll just say the thanks everyone for joining us and then you do your bit. Thanks everyone for joining us today on Alt Investing Made Easy.

Roland Wiederaenders (24:29.294)
Yeah.

Roland Wiederaenders (24:34.947)
And remember, take aim with your alternative investing strategies.

Sarah Florer (24:39.714)
See you next time.