But as we grow sales, we will now grow — we will now sell 18 million, 19 million pre-rolls a year. We’ll sell more and more flower. The big thing is organic growth and taking out more and more cost ultimately. Listen, the industry is only five years old. I come back and I say this year, more LPs will go away, more consumers will get educated about cannabis and the cannabis market will grow. I see a big opportunity in the beverage category for us in the Canadian market and the edibles. And listen, with our infrastructure in Canada and now having a facility in Belleville and London, it doesn’t stop us from going into the beverage business, the beer business, the craft beer businesses or other businesses in Canada to offset some of our costs of our infrastructure to diversify like we’ve done in the U.S. So, we’re committed to the Canadian market, and we think there’s a lot of opportunities there.
Andrew Carter: Thanks. I’ll pass it on.
Irwin Simon: Thank you.
Operator: Thank you. [Operator Instructions] Our next question comes from the line of Aaron Grey with Alliance Global Partners. Please proceed with your question.
Aaron Grey: Hi. Good morning, and thank you for the question. So, for me, I just want to touch on some of the comments you made in terms of potential we’re scheduling in the U.S. and opportunities on the medical side. So, assuming if it might be Schedule III, as many people predict it might be, can you speak to how you think you’d be able to leverage your Canadian and European expertise? You spoke to prescriptions. Do you think there need to be additional steps in terms of the current existing framework of the U.S. to participate in terms of selling into pharmacies, or do you think you’d be able to utilize that in terms of the existing dispensaries where most cannabis medical sales are being done? Just if you could expand upon how you might be able to participate in the U.S. in the event of rescheduling on the medical side? Thank you.
Irwin Simon: Listen, I think as I’ve said, and I said in my comments, what rescheduling does and medical cannabis legalized, a couple things. I think, it brings in some additional shareholders in regards to institutional shareholders. It changes the way in regards to some of the banking reform, I think, possibly. But more important, medical cannabis now, which is legal in about 10 states, medical cannabis is, I think the opportunity to sell medical cannabis in the U.S. nationally, where today, we are the largest in Europe and we have a big business in Canada. So, taking our infrastructure and hopefully we could import products from the Canadian market or ultimately would we buy something in in the U.S. that would allow us to get into the medical business.
But again, we have the expertise, we have the research, we work with the doctors, we work with the doctors on writing prescriptions today, we work with multiple hospitals, as you heard us talk about doing research on brain cancers and some other sleep apnea and some other diseases out there, anxiety. I mean, we’ve been doing this now for the last five, six years. So, taking that knowledge, taking that research and taking the expertise and we may have to move some of our people here and set up the infrastructure to do it, but it would not be a big issue for us to do it to get into the medical business in a big way in the U.S.
Aaron Grey: Okay, great. Thanks so much for the color. I’ll jump back in the queue.
Irwin Simon: Thank you.
Operator: Thank you. [Operator Instructions] The next question will be from the line of Tamy Chen with BMO Capital Markets. Please proceed with your question.
Tamy Chen: Hi. Good morning. Thanks for the question. I just wanted to ask if you can talk a bit about how you view your current liquidity position. I think you’re targeting for this fiscal year to be positive adjusted free cash flow. But that would suggest there’s still be other cash outlays that you exclude from this, but it would be a burden on your cash balance. And you’ve highlighted a number of various innovation investments in, for example, your beverage alcohol segments. So, I’m just wondering how, at this point, you view your liquidity position. Thanks.
Irwin Simon: I view we’re in a pretty good shape. At the end of the quarter, we had close to $260 million of cash. Our debt, bank debt and our subordinate debt is basically little less than $500 million and we’re working off the ’24. So, I view us as generating cash, investing back in our businesses. And you got to remember this here, Tamy, as we go into the back half and get more and more cost savings out of this business and generating more and more cash in our alcohol spirits business, our international business, it helps us to reinvest back in our business. So, I come back and see us being in a pretty good place.
Tamy Chen: Okay. Thank you.
Irwin Simon: Thank you.
Operator: The next question is from the line of Owen Bennett with Jefferies. Please proceed with your question.
Owen Bennett: Good morning, gents. Hope all well. Just a quick one on the international business. So, you mentioned or spoke about certain drivers into the back half, and you didn’t really talk about the international business. So, I was hoping you could just touch a bit more on the expansion into new international markets you call out in the quarter. And then, assuming the new legislation gets passed in Germany, when can we expect to see a meaningful pickup in terms of number of patients in that market and can we assume that will also support in the back half of the year? Thank you.
