Ann: $40 Million White-Label CBD Cosmetics Agreement Executed, page-57

re American distributor: there have been many negative, uninformed comments on this deal

Unfortunately, there is a lack of understanding that the agreement was made in May 2016, when it was fully expected that Hillary Clinton would be president by November - with her would come State and Federal cannabis reform and the perfect timing to launch MGC DERMA - instead against all odds there was a Republican Trump victory that was soon followed by a DEA ruling in December classifying all cannabis extracts as Schedule 1 Controlled Substances (including CBD) - the impact hit distributors, banking, insurance, and logistic companies, as well as the consumer perception - no-one can blame MGC/LICENSEE management for that - the DEA ruling will eventually be reversed and the US market opportunity will be revived - be patient!!