In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell discuss NewLake Capital Partners’ (OTCQB: NLCP ) and Glass House Brands’ (OTCQX: GLASF ) Q4 2026 earnings reports. First, NewLake Capital Partners CEO Anthony Coniglio joins the show after another solid quarter highlighted by strong AFFO generation, low leverage, solid liquidity and 100% rent. While much of the hemp sector continues to deal with volatility, NewLake remains disciplined while positioning itself for what federal reform could ultimately mean for operators across the industry. Then, in the second segment, Glass House Brands (OTCQX: GLASF ) CEO Kyle Kazan joins the podcast alongside company chairman Graham Farrar after reporting a much tougher quarter despite a delay in talks. Margins came under pressure, EBITDA turned negative and production costs skyrocketed.

We’re starting a discussion around a New York Post story that suggests the hemp industry may be closer to meaningful access to banking. In Virginia, Gov. Abigail Spanberger has had a public clash with the legislature over an adult cannabis bill. With the deadline approaching on May 22, the hosts indicated that the situation remains unsettled.

Anthony Coniglio, Managing Director of NewLake Capital Partners, joins to discuss the REIT’s Q1 2026 earnings. NewLake reported revenue of $12.3 million and AFFO of $0.48 per share, maintaining 100% rent collection on the occupied properties despite the bankruptcy proceedings of one tenant. Coniglio highlighted the company’s nearly unleveraged balance sheet, with $100 million in available liquidity earmarked for expansion in emerging markets including Kentucky, Texas and Georgia. He also noted growing interest from non-traditional cannabis investors after NewLake attended a prominent investment conference in New York and shared that at least one major accounting firm outside of the cannabis space is now actively considering accepting plant-based clients.

Next, Glass House Brands CEO Kyle Kazan and President Graham Farrar provide a detailed update on the company’s operational expansion and strategic positioning following the rescheduling of medical cannabis in Schedule III. The pair outlined the scale of the development, which will add nearly a million additional square feet in the near future, and discussed active conversations around both interstate trade and European export opportunities.

It was just a rough quarter for Glass House…or one of those one-step-back, two-step-forward moments when the company is building what it thinks will be next. Find out in this episode.

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell share more encouraging news for the cannabis and psychedelic industries. In the first segment, the boys discuss the appointment of Michael Davis to lead the FDA’s Center for Drug Evaluation and Research following major leadership changes within the agency. Davis has deep experience in psychiatric drug development and psychiatric-based therapeutics at a time when Compass Pathways (NASDAQ: CMPS ) is moving rapidly toward potential FDA approval for COMP360. We’ll take a look at Safe Harbor Financial’s (NASDAQ: SHFS ) latest earnings, and in part two, Michael Bronstein of the American Hemp and Hemp Trade Association joins the show as all eyes turn to Virginia.

Significant development in the field of psychiatric medicine. the elevation of Dr. Michael Davis to acting director of the FDA’s Center for Drug Evaluation and Research after a period of leadership turmoil within the agency. Davis has extensive experience in psychiatric drug review and previously served as chief medical officer at a nonprofit organization focused on psychiatric-based therapies before returning to the FDA.

His appointment could be a significant signal to the industry, particularly Compass Pathways, whose COMP360 psilocybin treatment for treatment-resistant depression is currently under an NDA priority review voucher, which could significantly shorten the FDA’s review timeline.

Safe Harbor Financial’s latest earnings show continued discipline under CEO Terry Mendez, including modest revenue growth, sharply higher loan program revenue, reduced operating expenses and a swing from negative equity to positive equity. Is Safe Harbor the evolution of a full-spectrum financial services platform tailored to small and medium-sized cannabis operators? We will discuss.

Michael Bronstein, president of the American Hemp and Hemp Trade Association, joins the Insider’s Edge segment show to offer a detailed look at the regulatory and political landscape ahead of the June ALJ hearings. Opposition groups like SAM are well funded and should not be underestimated. On Virginia’s adult-use bill, Bronstein said intelligence points in both directions, with no clear outcome ahead of Gov. Abigail Spanberger’s Friday deadline and the risk of a veto remains very real after she rejected several proposed changes. He also provided an update on Pennsylvania, noting that gaming interests have poured nearly ten million dollars into the state’s primary races, creating significant tension in a Senate caucus that continues to complicate the prospects for cannabis legalization there.

This and more when you join.

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell recap another busy week for cannabis earnings, with reforms on the horizon, with two very different stories in the industry. First, Rubicon Organics (TSXV:ROMJ / OTCQX:ROMJF) CEO Margaret Brody joins the show after the company reported Q1 results that showed revenue growth but also some short-term pressure related to the Cascadia facility ramp. In the second segment, Jushi Holdings (CSE:JUSH / OTCQX:JUSHF) CEO Jim Cacioppo joins us to talk about the company’s latest quarter, and finally FundCanna CEO Adam Stettner returns for his weekly update.

Rubicon Organics CEO Margaret Brody presents the company’s first quarter results, which showed revenue of $13.7 million, up 11% year-over-year, although margins came under short-term pressure as the company expands its newly licensed 47,000-square-foot Cascadia facility. Management is deliberately absorbing short-term profitability headwinds to position Simply Bare, 1964 Supply Co. and Wildflower for a much stronger second half of 2026. He also acknowledges that the BC distributor strike has dragged down Q1 performance, but is confident that the reverse is now behind them. Internationally, Brodie highlighted the strong reception of the ICBC trade show in Germany and the growing demand from overseas medical markets, underscoring the company’s ambition to become the world’s most trusted home of premium cannabis brands.

Jushi Holdings CEO Jim Cacioppo hailed his company’s most recent quarter, which delivered $66.4 million in revenue, one of the more significant refinancing stories the industry has seen this year due to improved margins, stronger wholesale numbers and

The conversation touched on Virginia’s adult use, Ohio’s improving sales trends following the use of cannabis, Pennsylvania’s legalization prospects and why management believes the tightening of cannabis rules could be a significant catalyst for licensed operators.

FundCanna CEO Adam Stettner offers a capital markets outlook on earnings season with potential reforms, what operators should watch for in the emerging Georgia medical market and what the current funding environment reveals about where the industry is headed. Discover everything as you listen.