Irwin Simon: And Federico, I think the important thing is listen, let’s step back for a second. Cannabis in Canada is only a four-year-old business, okay, and the same with the U.S. So we’re building out a whole new industry, no different than tech no different than electric cars. At the same time, we’re building brands and brands take a long time to build out at brands take a long time for consumers to get used to it. At the same time and trying to get the right — what’s the right price out there. Today, there’s bourbon prices out there at $300 a bottle, there’s bourbon prices out there at $39 a bottle. And I think it’s just ultimately settling out the consumer. The Canadian cannabis business that retails between $7 billion to $10 billion, and I think how does it get to $10 billion, one of the biggest opportunities that we have not talked about is a whole beverage category, where you can walk into a convenience store and ultimately buy a drink with you can walk into any store and buy THC products.
You can go into a bar and buy THC beer on tap. So it’s going to be an evolving industry. And I think that’s the important piece of it today. And some of the things that we have to deal with, there’s over 900 LPs out there. The excise tax is $1 gram no matter what the price is. The infrastructure that was spent on building out these grow facilities were billions and billions and billions of dollars. The shakeout will happen, but there’s going to be a winner, and it’s going to be tilted.
Operator: Any additional questions at this time?
Berrin Noorata: Thank you. And now, we will take questions from the Say Technologies platform. The first question is. What are some positives to look forward to in 2023?
Irwin Simon: Listen, I think. As I’ve said throughout all these questions today, there’s a lot of positives out there. As Tilray is today, it’s a diversified company with the adult use cannabis business in Canada has a medical business as we move into the drinks business, the edibles business, and we have a lot of innovation behind it. We’re number one in the medical business sold in over 20 countries in Europe today, with a lot of great growth facilities out there. We have a CC Pharma business, which will integrate into these businesses, so we could have a strong European business and continuously focus on that. As a company, we’ve diversified and gone into the spirits business have gone into the beer business and have a wellness business in regards to Manitoba Harvest.
We’ve built out our balance sheet. We have over $400-plus million of cash today, and we have a strong, strong management team in place that knows how to execute. And I must tell you, it’s not an easy industry. There’s no industries out there that’s easy, but it’s an industry today where we have brands. We have a strong management team we have a strategy. And yes, strategy has to change. And I’ve said I wanted to be a $4 billion business out there by the end of 2024. But unfortunately, if legalization happened tomorrow, that’s possible without legalization it’s not going to be achievable just with the cannabis industry. If we diversify into other categories, it absolutely can happen. So there’s a lot of things happening at Tilray and there’s a lot of good moving pieces out there for us to execute upon in ’23 and ’24.
Berrin Noorata: Thank you. And the final question is. What are the plans to increase the stock value in this economic environment?
