Chief Financial Officer Public Company
Trulieve offers a range of products in capsule, liquid or inhaler form. The products are manufactured in a laboratory that is part of the company's indoor grow house at a plant nursery in nearby Quincy. "It's like walking into NASA," said Dr. Ken Brummel-Smith, a Tallahassee gerontologist serving as medical director for Trulieve. For patients and their families, Tuesday's open house at Trulieve was a day they sometimes feared would never come. The company only was cleared last week by the state's Health Department to produce and distribute products to patients - a year-and-a-half past the state's original Jan. 1, 2015 start date for making the strain of medical marijuana available to patients suffering from cancer or severe seizures. The use of marijuana for medical purposes now is legal in 25 states, and it can be sold for recreational use in another four, Colorado, Washington, Alaska and Oregon. In Washington, D.C., it's also legal to possess and cultivate cannabis but retail sales are banned. Florida voters will decide in November whether to allow full-strength marijuana as medical treatment for a host of additional illnesses. A similar proposal narrowly failed with voters two years ago. "The will of the people really does change the world," said Moriah Barnhart of Tampa, whose 5-year-old daughter suffers from brain cancer, and plans to use Trulieve's products to help her child. Barnhart is a member of Cannamoms, a group formed to advocate for marijuana as a medical treatment for severely ill youngsters. Rivers and Trulieve's chief operating officer, Jason Pernell, plan to open dispensaries in Tampa and Clearwater in the next 60 days. It's unclear when a store will open in Palm Beach County or other locations in South Florida, although Trulieve can deliver statewide. Introducing low-THC marijuana to Floridians was plagued by delays involving creating new state regulations, which then led to lengthy legal challenges involving those seeking licenses. Health officials are still dealing with an attempt by one rejected licensee to gain entry into the potentially lucrative new Florida industry. The 2014 law was expanded this year to allow the dispensing organizations to also grow full-strength marijuana for patients who are terminally ill. Trulieve said that more potent strain will be available for shipping next month. Patients seeking medical marijuana must get a recommendation from a doctor who has been certified by the state for having taken an approved continuing medical education course on the treatment. Once a patient's name is entered into a directory - also newly established by the Health Department - Trulieve will be authorized to ship the product. So far, though, only a handful of Florida doctors are authorized to recommend marijuana. There are also currently only a few patients, since they must be under the care of that authorized doctor for 90 days before being able to fill a marijuana order.
CFO/ SENIOR FINANCIAL EXECUTIVE/STRATEGIC FINANCE LEADER I am a versatile hands on senior financial leader and experienced CFO in public and private companies engaged in technology, biotech, services, software, SAAS, engineering, telecom, system integration, aerospace and defense (drones) industries. I have worked with PE groups for 8 years. I drive organic, M&A growth, and international expansion. I have secured Public, VC and Private Equity funding to realize organization’s vision. Size of companies ranged from small/middle market companies to large multinational enterprises. Recently acted as CFO/Financial Consultant for a biotech company to prepare a road map for S-1 filing and IPO. I have raised $200M in the public capital market and $10M in PE/venture funding. I have prepared 2 other companies for IPO readiness - Delphi Solutions and PPIC. I have concluded 11+ M&A transactions close to $1B in value. I helped TIE/telecommunications, a public company become private and completed a Leverage Buyout (LBO) of Delphi Solutions both were PE owned. I concluded a technology license negotiation in the UK single handedly with a $100M revenue stream for PPIC and helped to commercialize its technology in the global market place and concluded business transactions in 4 continents: Asia, Americas, Europe and Africa.. During that process I have gained expertise in transfer pricing, foreign taxes and permanent establishment requirements. I have built and developed strategic plans and enabled ARA to grow by 54% in revenue and 175% in EBITDA in 14 months. I have big 4 background (KPMG) and governance expertise with a corporate director designation, ICD.D. Active CPA licenses in MD, DE and FL. My functional expertise includes strategic planning, M&A, risk management, SEC reporting, financial accounting and controls, audit, tax, budgeting, governance, capital raising, IFRS and licensing. I have worked with small and medium sized companies to large billion $ companies.