Keith Stauffer

@GreenWaveMJ @SavingPlants @JasonGWild No. It was due to TerrAscend refiling the original return, within the open statute window, as a “non 280E tax payer” backed by a reasonable basis legal opinion from a very reputable firm. The IRS processed the return and paid the refund. Then the statute closed.

@KeithStauffer @SavingPlants @JasonGWild Keith, was the 280E refund due to a miscalculation? thanks. Sorry to bother you with this .

Looks like $TSNDF turned $8.4M of uncertain tax liability into an asset when the statute of limitations expired—suggesting an alternative to rescheduling for these debts, especially with the recent IRS workforce reduction. cc @KeithStauffer @JasonGWild as I'm not a tax expert.

@GreenWaveMJ @JT_in_LA @Trulieve_IR x.com/keithstauffer/…

@KeithStauffer @JT_in_LA @Trulieve_IR I see -- i misread the ticker...for Terrascend..was that 280E related and from an amended return?

👀 In Q4 2023 Trulieve received ~$115M in tax refunds - The statue of limitations expires within 2 years of receipt. Don't know if it was in Oct (few weeks away) or Dec 2023 (@Trulieve_IR did not respond to my inquiry). If the IRS does not come knocking, its liability is reduced by $115M plus accrued interest and penalties. More importantly, this could set a favorable precedent for the rest of the industry as it relates to unpaid 280E. The current interest rate assessed by the IRS for underpayment of taxes and penalties is 9% compounded daily. Penalties are 0.5% per month of the tax and interest owed, capped at 25% of the unpaid balance. The IRS is a cheaper source of funding than most lenders. Most of the Operators' cost of debt is above 9% (Trulieve and Curaleaf are slightly below), but if penalties are paid, the cost of capital becomes less appealing. It should be noted that the reported Uncertain Tax Position balances include interest and penalties, a portion of the non-current tax provisions (basically unrealized tax expense), as well as other tax disputes unrelated to 280E. Accordingly, the reported balances @ Q2 2025 are likely greater than what is ultimately paid to the IRS. #msogang $TCNNF $CRLBF $CURLF $JUSHF $AAWH $VRNOF $GTBIF

@GreenWaveMJ @JT_in_LA @Trulieve_IR I’m out now but just to clarify it did roll off the uncertain tax position because the statute expired. I responded to this specific issue in a tweet earlier in the year.

@JT_in_LA @Trulieve_IR Nope — still has the refund included in UTP

@GoodmanHoops Purdue now a most certain lock at preseason #1

@JasonGWild @Manpreazy @TheDalesReport @terrascendcorp Aggressive working capital management is critical. I learned it during my 10 years with Dell when Dell famously had a negative cash conversion cycle (90 days payables, < 5 days of inventory, < 5 days of A/R). I’m not saying cannabis operators can get there but every day counts!

@Manpreazy @TheDalesReport @terrascendcorp It’s a badge of honor.

One notable change from our story from yesterday concerning days payment outstanding (DPO) as we gear up for earnings season, @terrascendcorp is 63 days, which is outlined in our chart in the following story. $MSOS $TSNDF @JasonGWild thedalesreport.com/cannabis/how-u…

Boiler Up!

@chwest1 @IsaacRomig1 @B1GBOILERBRAND Boilers in the Stands interviewed Bobby buckets the other day and they explained it pretty well as it relates to whether anyone would ever get to use #15 again.

@IsaacRomig1 @B1GBOILERBRAND Does Purdue retire numbers or just honor them by hanging it in the rafters?

I wonder what number is retiring....🇨🇦

@StockTalks21 Braden Smith went head to head against 3 of the players on the second team list and beat them all and personally outplayed each of them.

Jon Rothstein’s All American Teams were released today. Here they are. FIRST TEAM 
Zach Edey, Purdue 
Dalton Knecht, Tennessee 
R.J. Davis, UNC
Tristen Newton, UCONN
Jamal Shead, Houston 

SECOND TEAM 
Jaedon LeDee, San Diego State 
Kevin McCullar, Kansas
Terrence Shannon Jr., Illinois 
Caleb Love, Arizona 
Tyler Kolek, Marquette 

THIRD TEAM 
Hunter Dickinson, Kansas
Kyle Filipowski, Duke 
Baylor Scheierman, Creighton Antonio Reeves, Kentucky 
Mark Sears, Alabama Honorable Mention Johni Broome, Auburn DaRon Holmes II, Dayton Devin Carter, Providence Boo Buie, Northwestern Braden Smith, Purdue

@CBKReport Purdue already is 8-0 against the teams on this list

Top 20 KenPom Offenses: 1. Alabama (2nd best in KenPom era) 2. Purdue 3. Illinois 4. UConn 5. Baylor 6. Arizona 7. Kentucky 8. Duke 9. BYU 10. Gonzaga 11. Creighton 12. Iowa 13. Auburn 14. FAU 15. Florida 16. Dayton 17. Tennessee 18. Houston 19. Wisconsin 20. Clemson

@kraigbowers34 Glenn Robinson team in Knoxville beat Kansas and lost to Duke and Grant Hill in Elite 8. So close. The old “horsing around in the hotel room” tale.

Purdue vs Tennessee Sweet 16 & Purdue vs Virginia Elite 8. Incredible basketball both nights that went to the last shot.

@ChaseChats4 Already boots on the ground in AA. Bumped into Juwan in the parking lot and all he could muster was a “good morning”. Although I had no school association apparel so what else could one human expect towards another human. 😂

@BoilerBall @zach_edey @GillisMason @mylesjcolvin Mason is clutch. Always making glue plays. Did he get an assist for that?

The little things add up. @zach_edey ➡️ @GillisMason ➡️ @mylesjcolvin

@ThreeTwaunMoore The Ivey year I went to: - Assembly Hall (L in last seconds) - RAC (Harper Jr half court) - Wisconsin (Chuckie Hepburn bank 3) - St Peters (no explanation needed) I was convinced I was the problem. I’m over it.

Last three Purdue games I’ve been to: St Peter’s @ Northwestern last season @ Northwestern last night

@JasonGWild @jesseredmond @MorganPaxhia @mayortoby 👍👍

@jesseredmond @MorganPaxhia @mayortoby 👍👍

Rain or shine, we show up. This week @MorganPaxhia, @mayortoby, and I are talking about $TSND's investor day, the health of key existing states, opportunities for new markets to flip adult use, and viewing cannabis stocks with a private-equity mindset. See you at 4 pm EST!

@PotMom2012 @Boris_Jordan @mayortoby It has to meet certain criteria and thresholds. I won’t use specific words like “significant” to define that though.

@PotMom2012 @Boris_Jordan @mayortoby TSND was able to uplist due to our owned Cookies retail store in Toronto. The reason Canada shows as zero in what you posted is because we discontinued our money losing LP business but increased ownership in Cookies retail Canada to 95% which enabled us to begin consolidating

Yesterday @Boris_Jordan on @mayortoby Spaces said a listing requirement for the TSX is a 'material' business outside of the USA. How material does this need to be? $CURLF $TSNDF

@GreenWaveMJ TerrAscend provided guidance for at least $305m revenue for 2023 and 23% growth YOY.

Q2 Recap Actual vs Consensus as well as QoQ and YoY. The takeaway - top line generally in line with consensus which was flat. See separate tweet on cash flows. #MSOgang

Join us this evening, Aug. 10th, at 5PM ET for our Q2 2023 Earnings Investor Conference Call. Register now: bit.ly/44MZ1Zp #TerrAscend #Investing $TSND $TSNDF

TerrAscend Preannounces Strong Second Quarter 2023 Revenue and Gross Margins and Provides Full Year Guidance globenewswire.com/news-release/2…