Greenlane Holdings, Inc.

Good afternoon and welcome to today's conference call to discuss Green Lane Holdings third quarter 2022 financial results. A press release detailing the financial results for the quarter ended September 30, 2022 was distributed earlier this morning and is available on the investor relations section of the Green Lane website at investor.gnln.com. As a reminder, today's conference is being recorded. A replay of this call, as well as a copy of the supplemental earnings slides, will be archived on the company's IR website at investor.gnln.com. On the call today are Nick Kovacevic, Chief Executive Officer, Darsh Daya, Chief Accounting Officer, and Craig Snyder, President. Before we begin, GreenLane would like to remind listeners that today's prepared remarks may contain forward-looking statements and management may make additional forward-looking statements in response to the questions received. These statements do not guarantee future performance and, therefore, undue reliance should not be placed upon them. These statements are based on current expectations of the company's management and involve inherent risk and uncertainties and other factors discussed in today's press release. This call also contains time-sensitive information that speaks only as of the date of this live broadcast, November 15, 2022. Factors that could cause GreenLane's results to differ materially are set forth in today's press release and in GreenLane's annual report on Form 10-K for the year ended December 31, 2021, and quarterly report on Form 10-Q for the three months ended September 30, 2022. previously filed with the SEC. Any forward-looking statements made today on this call are based on assumptions as of today, and Green Lane assumes no obligation to update these statements as a result of new information or future events. During today's call, Green Lane management may discuss non-GAAP financial measures, including adjusted gross margin, adjusted SG&A, and adjusted EBITDA. Green Lane has included a reconciliation of these non-GAAP measures in today's press release. which is available in the investor relations section of the company's website at investor.gnln.com. I would now like to turn the call over to Mr. Nick Kovacevic, Chief Executive Officer of GreenLane. Please go ahead, Nick.

Hello, everyone, and thank you for attending our third quarter 2022 earnings call. We continue to make great progress on our key initiatives, setting us up for success in 2023 and beyond. However, We believe many of the results from these efforts are lagging indicators and will not be fully represented in our financial results until several quarters down the road. Today, we will discuss the results of Q3, but more importantly, also discuss some of our recent accomplishments and how those initiatives will benefit GreenLane in the long run. Liquidity is obviously extremely important in today's macro environment, and we continue to make strong progress on our liquidity initiatives. We are pleased to update everyone on our previously announced 2022 plan to raise $30 million of non-dilutive capital. To date, we have brought in over $27 million in accordance with our plan, which includes one, disposing of non-core assets, such as our interest in Vibes, LLC, XS Financial, the sale of our European Azarius assets, and the sale of our company headquarters building in Boca Raton, Florida.

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