Irwin Simon: Under the right circumstances or as a temporary bridge ultimately to make sure our facilities are being utilized. That’s what’s the important thing here, and they’re contributing cash sitting there idle, doesn’t contribute anything just contributes cost. And we, as a company, are focused on driving our top line, driving our growth and utilizing our facilities to contribute cash.
Operator: Next question is from the line of Pablo Zuanic with Cantor Fitzgerald. Please proceed with your question.
Pablo Zuanic: Look, two questions. The first one, just remind us how you’re thinking about the target of $4 billion in revenue by fiscal year ’24. I suppose that’s being delayed. But without holding you to it, I suppose that there were different pieces you had talked about they are North American cannabis, Canadian, U.S., international, CPG wellness. Does that mix change? And the reason I’m asking the question, given all the delays and legalization you’re talking about, could there be a scenario where you decide to bulk up the branded, high-margin beer and alcohol business, right? And I’m not saying you want to buy Molson Coors, but would we have a scenario in ’24, ’25 that we had an alcohol account for 90% of our Tilray brands revenues?
And the second question and I know it’s hypothetical. If we go about what Canopy growth has said, that if NASDAQ doesn’t allow them — doesn’t approve the Canopy U.S.A. structure, they would potentially the least and just remain listed in TSX. Would you consider following — and they start buying U.S. assets on the Canopy side, that could put you in a disadvantage potentially, right? So if they were to get — if they were to do that, start buying U.S. assets delis from NASDAQ remain in TSX, would you consider a similar move just not to be a disadvantage when they are buying U.S. assets and you are not? Thanks.
Irwin Simon: Pablo, thank you. Good questions here. Number one, I’ve said before the $4 billion mark and set that out that I believe legalization would have happened in the U.S., and I believe legalization would have been a part of Europe, and I always make sure that it was contingent on legalization. Listen, the spirits business has been a very good business for us so far. It’s very profitable, good margins, other companies, whether it’s Constellation or Diageo there. I like their multiples, I like their margins. And I think one day, and as I’ve been out there meeting with alcohol distributors and other — everybody is focused on cannabis because they realize one day upon legalization, the cannibalization in the whole Spears beer business is going to come from cannabis.
And trust me all these major alcohol companies have an eye on cannabis, no different than the tobacco companies. So with that, if I today can’t do anything in the U.S. and have to sit there, why not get bigger into some of these craft brewers like a SweetWater like a Montauk, like a Breckenridge like we did. And you know what, I like the wellness area. You know my past in the wellness area. So with that diversify our portfolio with adjacencies. So we can’t buy cannabis assets. We can’t grow cannabis assets in the U.S. And right now, look what’s just recently happened in New York in regards to valuations, how they’ve come down. On the other hand, the store that opened in Manhattan here with lines and lines and lines around the corner, you see the demand for it.
