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  "documentTitle": "Trulieve Cannabis Corp (TRUL)",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-12-01 00:00:00",
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  "notes": "The slide uses a skeptical tone to challenge the company's expansion strategy and transparency.",
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      "text": "The company has to keep growth excitement going, and announced has done several acquisitions that we don't have high hopes for.",
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      "text": "However, a partial sale of a part of the building was later sold to Trulieve on July 11th 2019 for $300,000. Trulieve failed to disclose this. Later the property was sold to IIP for $3.5M IIP is said to reimburse renovation costs for up to $40M and the lease ends in 10-years. The building is over 150 years old. To achieve the purported \"high quality production facility\" story, Trulieve has to start investing heavily in the area.",
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      "text": "Life Essence LLC was acquired by Trulieve on December 13, 2018 for the purpose of acquiring licenses to operate three medical marijuana dispensaries and a marijuana cultivation and processing facility in Massachusetts. Records indicate that the acquisition actually happened on November 6th 2018. The acquisition was financed with $4.4M cash on hand, of which constituted solely of dispensary license (valued at $4.5M).",
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      "text": "Later on May 31st, Trulieve Holyoke Holdings LLC was incorporated with the same resident agent address as Life Essence LLC at 84 State Street, Boston, MA, 02019. Shortly after, the holding company purchased a building at 56 Canal Street and 7 North Bridge Street, Massachusetts 01040 for a price of $3.2M from Frankie Chips Assoc., Inc..",
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      "text": "As for the company's plan to expand beyond Florida into Massachusetts, California and Connecticut. We are highly doubtful and don't believe the company has a competitive advantage in states where others fail to grow profitably.",
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      "text": "Leef industries LLC was acquired on November 30th, 2018. The purpose of this acquisition was to acquire the recreational marijuana license in California. The acquisition was financed with $4M in cash and included one dispensary. As of the date of this report, records indicate that the status of Leef Industries, LLC is actually FTB Suspended. FTB suspended typically relates to failure to meet tax requirements.",
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      "text": "The company has to keep growth excitement going, and announced has done several acquisitions that we don't have high hopes for. Besides the super competitive state of California, all other states Trulieve seeks to expand to are relatively small cannabis markets compared to Florida.",
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      "text": "8.2 Acquisitions won't Save the Company",
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