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      "text": "1. The inventory write-off and disposal costs relate to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U. In the interest of having a single formulation for sale worldwide, the Company reformulated on a global basis and is disposing of unused stock.\n2. Represents initial costs and ongoing benefit payments associated with the departure of the Company's Chief Operating Officer during the year ended December 31, 2022.\n3. Represents costs associated with the Company's CEO transition and other organizational realignment, recorded during the year ended December 31, 2023.\n4. Labelling stock write-off and disposal costs relate to disposal of unused product labels that the Company was required to update as a result of regulation changes in the E.U that became effective in the first quarter of 2023.\n* Costs for this period were less than $500 thousand dollars, and round to zero in this presentation.",
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      "text": "Q4 2023 EARNINGS",
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      "text": "Adjusted Gross Profit ($MM)\nFor the Quarter Ended December 31,\n2023 2022\nGross Profit $ 77 $ 92\nAmortization of patented formulations 2 3\nInventory write off and disposal¹ - *\nLabelling stock write off and disposal4 - *\nAdjusted Gross Profit $ 79 $ 95\nAdjusted Gross Profit Margin 70.6% 72.5%",
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      "text": "Adjusted EBITDA ($MM)\nFor the Quarter Ended December 31,\n2023 2022\nNet Income $ 14 $ 34\nDepreciation and amortization of intangible assets 13 13\nInterest expense, net 9 10\nIncome tax provision 3 8\nShare-based compensation 2 2\nInventory write off and disposal¹ - *\nExecutive reorganization costs² - 4\nOrganizational realignment³ 3 -\nLabelling stock write off and disposal4 - *\nTax receivable agreement liability adjustment (8) (3)\nAdjusted EBITDA $ 36 $ 68\nAdjusted EBITDA margin 32.2% 51.7%",
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