My Take After Sitting Down with CEO Hans Enriquez

Marathon Money Member Report

Ticker: MEDH (Proposed Ticker: DAZE)

Exchange: OTC Pink

CEO Interview: Hans Enriquez, Chief Executive Officer

Executive Summary

I recently sat down with Hans Enriquez for his second appearance on Marathon Money’s Inside the Ticker, and I walked away believing this company has made meaningful progress compared to where it was a year ago.

This is still a speculative OTC company, and investors need to understand that from the start.

However, unlike many OTC companies that spend years talking about future plans without execution, MEDH has begun checking off important milestones.

The company has returned from dormancy, reported strong revenue growth, reached profitability, signed franchise agreements, expanded its technology platform, reduced debt, and is working toward rebranding itself as Dazed Inc.

That doesn’t eliminate the risks.

But it does make the story more credible than it was previously.

What Does MEDH Actually Do?

Many investors hear “cannabis company” and immediately think cultivation.

That’s not really what MEDH is becoming.

I believe management is attempting to build an ecosystem.

That ecosystem includes:

• LazyDaze cannabis lifestyle stores

• Cannabis consumption lounges

• Franchise licensing

• Wholesale distribution

• Payment processing

• Customer loyalty software

• Franchise management software

• Brand licensing

Instead of relying on selling cannabis alone, management wants multiple recurring revenue streams.

That is a much more attractive business model than simply operating dispensaries.

The Biggest Thing I Learned

The company isn’t trying to become the next large cannabis grower.

They’re trying to become a cannabis franchise company.

That’s a huge difference.

Think about businesses that generate recurring royalties rather than owning every location.

If franchisees invest their own money to open stores while MEDH earns franchise fees, royalties, software revenue, and wholesale sales, capital requirements become much lower than opening every location themselves.

That’s the model management is pursuing.

LazyDaze Could Become the Brand

Hans repeatedly talked about creating what he calls the “third place.”

Years ago that was bars.

Today he believes cannabis lounges become that destination.

Whether he’s right remains to be seen.

But I understand the thesis.

Gen Z drinks less alcohol than previous generations.

Cannabis acceptance continues to expand.

Consumers increasingly seek experience-based businesses.

If those trends continue, LazyDaze could benefit.

LEAFtrak Could Become More Valuable Than Investors Realize

One area I found especially interesting was LEAFtrak.

Many investors may assume it’s simply a point-of-sale system.

It appears management wants it to become the operating system behind franchise locations.

That includes:

• Ordering

• Loyalty programs

• Customer analytics

• Franchise operations

• Compliance

• Payments

Software businesses often carry much higher profit margins than retail businesses.

If LEAFtrak gains adoption beyond company-owned stores, it could become an important recurring revenue driver.

Execution will determine whether that opportunity becomes meaningful.

What I Like

Several things stood out positively.

Revenue growth has accelerated.

The company reported profitability.

Debt has been reduced.

Franchise expansion appears underway.

Management continues communicating with shareholders.

The CEO answered difficult questions directly.

I also appreciate that management isn’t relying on a single source of revenue.

The combination of retail, franchising, software, wholesale, and payments gives the company multiple ways to grow.

What Still Concerns Me

No investment is perfect.

There are still meaningful risks.

The share count remains very large.

Potential future dilution always needs monitoring.

The preferred share structure deserves continued attention.

Investors should continue following debt levels.

Execution risk remains high because management now has to prove they can successfully scale a franchise organization.

Regulatory risk also remains.

Cannabis laws continue changing across states and at the federal level.

Finally, this remains an OTC company.

OTC companies generally carry much higher risk than companies listed on the Nasdaq or NYSE.

My Biggest Questions Going Forward

These are the things I’ll continue watching.

Can franchisees actually open profitable stores?

Can LEAFtrak generate meaningful recurring software revenue?

Will franchise royalties begin showing up consistently?

Can management continue producing profitable quarters?

Will dilution remain under control?

Can the company eventually qualify for OTCQB or another higher reporting tier?

Can management continue reducing debt while growing revenue?

How I Would Personally Invest

This is my opinion only.

If I decided to invest in MEDH, I would treat it as a speculative position.

I would never make it one of my largest holdings.

Instead, I would build a position slowly over time while monitoring quarterly execution.

I would only add more shares if management continues delivering measurable results.

Specifically, I would want to see:

• Continued profitability

• Additional franchise openings

• Growing recurring royalty revenue

• LEAFtrak customer growth

• Lower debt

• Minimal dilution

If those milestones continue happening, I believe the investment thesis becomes stronger.

If management stops executing or begins issuing excessive shares, I would reassess my position.

For me, execution matters far more than presentations.

My Opinion

After this interview, I came away more optimistic than I was before.

That doesn’t mean I believe success is guaranteed.

Far from it.

This company still has significant work ahead.

But I believe MEDH has moved from being a company with only ideas to a company beginning to execute on those ideas.

Now comes the difficult part.

Execution must continue.

Quarter after quarter.

If management continues delivering measurable operational results, I believe investor confidence could improve over time.

For now, I consider MEDH a high-risk, high-reward speculative company that I will continue following closely.

Marathon Money Disclosure

Marathon Money received compensation from MedX Holdings, Inc. for producing and distributing this CEO interview.

Compensation did not include a requirement to provide favorable coverage or opinions. The views expressed in this report are my own analysis based on the interview, publicly available company information, and my experience as a former Wall Street trader.

This report is provided for informational and educational purposes only and should not be considered financial advice or a recommendation to buy or sell any security. Investing in OTC securities involves substantial risk, including the possible loss of your entire investment. Always perform your own due diligence and consult a licensed financial professional before making investment decisions.

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