Progress Report: 11.22.24

Grasshopper Farms Family,

We are upon another week and update!

And it is a snowy one!

Colorado has been doing an incredible job in working through their 2024 harvested products...and selling them! This is the year in which we are really pushing to establish brand differentiation with retailers and consumers. And they are getting it done. Since we are a single season outdoor cultivator, this takes time.

It also takes patience.

Great job, Colorado!

Michigan is continuing to work through the state's second market event - illicit material penetration. The good news is that we have solid evidence that a shift is underway.

First - Price of distillate. As I have previously shared, distillate really drives the market. Earlier this year, it was near impossible to sell distillate because people were accepting illicit distillate and then reselling it...often for $200-$300. Then the state started cracking down and one lab established a way to confirm if the oil was derived in state or not. And we are now back to what we would expect - $1,500-$1,700 per liter. That drives the prices of everything from biomass flower to extract consumables. Even retail flower!

Second - State action. The state continues to release action after action against bad actors. And it is starting to make a difference.

Third - Testing. As mentioned above, labs can test for conversion oil. We actually sold some oil with the conversion test already completed and they still did another conversion test on it. That sort of action is GREAT because it clearly shows that people are taking an abundance of caution when accepting material.

There are still bad actors in the market. They are falling out, but it will take time. But, the good news is we are moving in the right direction.

Businesses are struggling. There have been quite a few closures. One of our pictures this week is an announcement that Flourish closed one of their locations. This was huge because they have a lot of supply and sales, but it clearly shows how some folks got hit and have not been able to recover.

We are solid. While finances are extremely tight and we are chasing payments every day, we are going to be just fine as we navigate through this messy middle of this Michigan market event.

Check out one of our terpene percentages! The future market will place a tremendous amount of value on higher terpene percentages. We are prepared. Many are not.

Adam had some rosin made from our flower...and it looks GREAT! Check out the pictures!

NEW JERSEY!

After over two years and dozens of meetings and continuances, we received a unanimous approval by the township planning board last night! This is huge on so many levels. And we can't wait to start sharing more updates and pictures from the New Jersey farm. We had a Stockton University professor and some students visit the farm yesterday and they attended the planning board meeting afterwards. What a great day for New Jersey!

Our daily message contemplated our thoughts. Are they serving us or are they working against us?

Fear is fueled by an inability to manage thoughts.

https://www.instagram.com/reel/DCY8NCyMGXC/?igsh=MTU5OWEzaWIzbjFibw==

There is a lot of research that has proven that we have to be deliberate with our thoughts. And doing so means to be attentive and practice how we maintain and manage our thoughts. Daily.

There is also a lot of research that says too many of us are avoiding our internal triggers and challenges, rather than facing and resolving them.

I am taking this very seriously. I am working actively and deliberately with my thoughts and facing my fears head on.

It is absolutely amazing and undeniable how much of a positive change this sparks.

I hope you all have a safe and wonderful weekend.