Summary] Today's Interview with Joe Deighan - TAAT is going to war!
TAAT is going to war!
Ohio – Testing different flavored paper to make it more desirable to smoke over traditional cigarettes. Joe is so confident in the consumer feedback from Ohio.
They’re working hard to ramp up production to be able to support the demand that they’re seen. New partnership is the largest distributor in Dallas Fort Worth DFW.
CLC they’re working with Health Canada regulators atm so they can import/export the product. (Canada is working on ramping up the hundreds of cannabis dispensaries to thousands in the coming year)
FDA ban of menthol cigs - Joe said that the menthol ban is a win for TAAT and the regulations don’t apply to TAAT because it’s not a tobacco-based cigarette. They plan on capitalizing on this ban if it takes hold by giving smokers that can’t have their menthol cigs an alternative.
NASDAQ Uplisting - They're working on this at the moment. Joe isn't directly involved in this but he's CCed on all the emails about planning for this and he said he can't give a time frame, but he promises they'll get there.
Capital raising - They have no plans on raising capital right now because they still have plenty of funds in their war chest and don’t foresee having a need for additional capital unless they get a beneficial deal that they need large amounts of capital to take advantage of in the future. When the time comes that they need additional capital they will bring the proposal to shareholders and let them know how much they’re planning on raising and what they will be using the funds for. Joe said shareholders have been very supportive and that TAAT will do their best to doing things in their best interest.
They’re very close to expanding their office space and warehouse. Joe’s very excited about this new facility and will be disclosing more details about it within the coming weeks. The new facility will be in Las Vegas Nevada. They got a bunch of new hires coming onboard, (Joe claims the team is like a family working on a passion project).
In Europe they’re partnering with some guy who has done multiple distribution deals in the past. They’re working a European blend. TAAT will be launching in a few countries in Europe soon, news is right around the corner. The initial TAAT launch will be using their current blend. They have partners they’re going to be launching with (who and when was mentioned). This guy has 6 years of experience distributing hemp products in Europe and fully understands how to work with all the regulations in place and has a proven track record selling millions of dollars of products.
Asia – Joe had a really big grin on his face when he said he was going to leave that one for Setti to answer.
New flavors – Joe claims that they’re currently in the phase of trying to acquire new customers and that’s where their primary focus is. He said that the 3 skus that they have available at the moment are very popular and they’ll look into releasing new flavors once they’ve established their customer base. That’s not to say that they’re not working on any new flavors, their R&D team is working on new flavors on the daily.
A month from now we’ll be able to SEE the results of the stuff they’ve been working on behind the scenes.
Crossmark – they’re meet with Crossmark every week and planning on the best roll out strategy to maximize value. That’s all Joe has to say about Crossmark for now.
Take over potential – Joe said that big tobacco is paying very close attention to TAAT and that they know there are big players snooping around. But he doesn’t care about that right now, all he cares about is getting TAAT all across the US and internationally.
Sales forecast – Joe respects the question but he said straight up that they’re not ready to give a forecast at this stage. But he sounded very dedicated to the cause and wants to make the shareholders very happy and wealthy. They’re working with Crossmark and will have a huge team of (20 vans) that will be going from market to market and taking over with TAAT. After this has progress further, they’ll be able to give a more concrete forecast on sales and he guarantees that they’ll disclose information in the future on what sales will be like and he said that they plan on under promising and over delivering!
Adco – Joe is really positive about Adco, they’ve been giving a lot of data on sales from Ohio. Surveys about how much they like the product, pricing and market feedback from stores.
Philip Morris – TAAT has absolute claim on Beyond Tobacco & Beyond Nicotine and Joe said that they will do what it takes to protect their IP. Basically, a warning to big tobacco to stop using their trademark.
Attracting more institutional investors –He said he’ll leave it to Setti. Joe is more about the day-to-day operations than working with investors.
Expansion into new markets – Texas! Texas will be the biggest new market based on the new 1 million dollar USD deal.
After they’re done with Ohio, they’re planning on just taking over the entire US! They’ll be working closely with specific markets to try and drive more sales, but they’re open to selling anywhere nationwide. If a retailer comes to TAAT looking for product in any state TAAT will find a way to deliver it to them and get them setup. They’ve gotten all the market research they needed from Ohio. Product info from the consumers, the messaging and marketing. They’re ready to start mass expanding expect the store counter to grow exponentially in the coming days.
Online store – Online sales are way better than they thought it would be. When compared to Joe’s previous hemp cigarette company they only sold 0.5 to 1% online just because people don’t want to wait for cigarettes, they want to be able to get them right away. As much as they like online sales, their main focus is business to business and getting the product distributed to wholesalers and retailers, brick and motor style. They want to be in every corner store, gas station and smoke shop is the US.
How long will it take to get all across the US? – Joe said it took him about 3 years to cover 60k stores all across the US in his previous hemp cigarette venture. But this time they have way more financing, experience and connections to get the job done way quicker. He said to come back a year from now and see how far they’ll have come. Sounds like they plan on being nationwide in a year’s time.
Setti’s 5 billion market cap – That’s 25x the current market cap of 200 million USD. Is there a timeline for that? Joe said it’s close to 3 years just off the top of his head. Joe is fully aware of what it will take to get there and it’s just a matter of time. They’ve figured out how to sell TAAT based on the test market in Ohio and it’s just a matter of copying and pasting that strategy. He said to check back in a year and be impressed at how far they’ll have come. Joe sounded shocked how low the market cap was atm and he hinted what a what a huge bargain it would be to buy in now.
Should you invest? – Joe said he’s diamond hands on his own shares and will be holding on to them for at least 10 years. He knows where they’re going and will be leading the charge! I believe he has over 10 million shares in TAAT personally.
Will TAAT offer a THC variety in the future? – Joe said it all depends on regulations and that they’re open to the idea of having a THC variant if the opportunity arises and it makes sense.
Call to Action – Joe said they’re ready to distribute all across the US and is asking for our help to spread the word. Go to your local convenience stores and ask for TAAT! hello@trytaat.com is open 24/7 to receive inquires for getting products into stores/wholesalers.
Feel free to share this anywhere and just mention that it came from /r/TAAT :)
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