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Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024702.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Cannabis Investment Report | December 2017 limited number of cannabis plants (typically, 4 to 6) for personal use. (Washington is an exception, however, and makes personal cultivation a felony unless it is done by a person registered in the state’s medical marijuana database.) U...

Luciano E. Joublanc
document IMAGES-004-HOUSE_OVERSIGHT_017082.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Jeffrey Joerres Josef Joffe Bjérn Johansson Boris Johnson Chris Johnson David Johnson Erica L. Johnson H. Fisk Johnson Jace Johnson Kevin Johnson Mark Johnson Ray Johnson Robert A. Johnson Simon Johnson Tom Johnstone Anthony Jones David Jones Hannah Jones Agnes Jongerius Conni...

CHAPTER Ill Cannabis Industry Segmentation
document IMAGES-008-HOUSE_OVERSIGHT_024689.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CHAPTER Ill Cannabis Industry Segmentation al Cannabis Consumers Using Vaporizers In addition to smoking and vaporizing devices, an increasing variety of other cannabis-related accessories are available, including personal storage and transportation products. Some of these prod...

CHAPTER II Cannabis Science 101
document IMAGES-008-HOUSE_OVERSIGHT_024663.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Or LA “a Plan cre CHAPTER II Cannabis Science 101 THC and CBD Formulation Spectrum THC:CBD THC:CBD THC:CBD THC:CBD THC:CBD THC:CBD THC:CBD THC:CBD 25:1 to 100:1 10:1 to 25:1 5:1 to 10:1 4:1 1:4 1:5 to 1:10 1:10 to 1:25 1:25 to 1:100 THC Level CBD Level ¢ Amyotrophic lateral...

CHAPTER Ill Cannabis Industry Segmentation
document IMAGES-008-HOUSE_OVERSIGHT_024677.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CHAPTER Ill Cannabis Industry Segmentation Customer Interactions © 2017 Ackrell Capital, LLC | Member FINRA/SIPC 41 HOUSE_OVERSIGHT_024677

Morgan Stanley | RESEARCH
document IMAGES-008-HOUSE_OVERSIGHT_025582.txt Aug 8, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

Morgan Stanley | RESEARCH OAK.N Oaktree: We value OAK using a sum-of-the-parts, supported by a DCF, and back into an implied target multiple on next 3 years DE and ENI. Our PT implies a 12.6x multiple on 2019 EPS, reflecting a 7% pre- mium to historical valuation of 11.8x given...

Re: AVGO
email IMAGES-011-HOUSE_OVERSIGHT_031809.txt Jul 13, 2018 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Richard Kahn Sent: 7/13/2018 6:35:08 PM To: jeffrey E. [[email protected]] Subject: Re: AVGO _ Importance: — High i believe he is married to broadcom as has he got stuck with stock on both 4,000 lots from selling puts .. Richard Kahn HBRK Associates Inc. 575 Lexing...

CHAPTER IV U.S. Legal Landscape
document IMAGES-008-HOUSE_OVERSIGHT_024707.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

> A “na Plan cre O CHAPTER IV U.S. Legal Landscape U.S. Department of Justice: The Cole Memo A memorandum published by the DOJ in August 2013 (Cole Memo) provides guidance to DOJ attor- neys and federal law enforcement about prosecuting cannabis-related federal offenses. The...

TA CHAPTER IV U.S. Legal Landscape
document IMAGES-008-HOUSE_OVERSIGHT_024713.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

ACKR PI L - A L BL TA CHAPTER IV U.S. Legal Landscape partners and consider many factors, including FDA resources and threats to public health. Beyond this statement, the FDA has not published detailed guidance about its cannabis-related enforcement priorities. Bank Secrecy Ac...

Appendix 2: Global Utility Sector Background
document IMAGES-007-HOUSE_OVERSIGHT_024226.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Utility White Paper CONFIDENTIAL Appendix 2: Global Utility Sector Background e =History To gain a deeper appreciation of why the global utility sector is attractive for long/short investing, it is helpful to briefly survey the history of the sector and describe the uti...

TAL Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024698.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

A > KR I P ELL TAL Cannabis Investment Report | December 2017 w U.S. State Law Of the 51 jurisdictions comprising the 50 U.S. states and the District of Columbia, 47 have enacted at least one law that permits the manufacturing, distribution, dispensing or possession of cann...

FAL CHAPTER Ill Cannabis Industry Segmentation
document IMAGES-008-HOUSE_OVERSIGHT_024673.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

A > KR I P FAL CHAPTER Ill Cannabis Industry Segmentation potency, moisture content and the presence of contaminants, such as residual solvents, heavy met- als, mycotoxins, microorganisms and pesticides. Testing, labeling and certification requirements vary widely across juri...

Cannabis Industry Segmentation
document IMAGES-008-HOUSE_OVERSIGHT_024667.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CHAPTER III Cannabis Industry Segmentation The nascent cannabis industry is often viewed by investors and others as a single, homogeneous indus- try, in much the same way the “technology” industry was viewed in the early 1990s. As the technology industry became more important to...

Cannabis Investment Report
document IMAGES-008-HOUSE_OVERSIGHT_024666.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Cannabis Investment Report | December 2017 Representative Dosage Amounts Desired Effect or Ailment Dosage “High” 10 mg THC Anxiety, depression, spasms 25 mg CBD Cancer 25 mg CBD Chronic pain 2.5-20 mg THC Epileptic seizures 200-300 mg CBD Glaucoma 20-40 mg CBD Increased appeti...

e §=Utility Value Chain
document IMAGES-007-HOUSE_OVERSIGHT_024227.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Utility White Paper CONFIDENTIAL e §=Utility Value Chain The electricity value chain for a modern day fully integrated utility consists of Generation + Transmission + Distribution + Customers (see diagram below). Each segment of the value chain is a different business, w...