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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...

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...

Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024732.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

I. ‘ bs P Qa LA A RELL Pr Cannabis Investment Report | December 2017 = Global Legal Developments Nations around the world have recently passed or are considering enacting an array of measures decrim- inalizing cannabis, legalizing it for medical use or, in a few cases, leg...

Global Cannabis Regulation
document IMAGES-008-HOUSE_OVERSIGHT_024727.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CHAPTER V Global Cannabis Regulation = Global Cannabis Legalization Momentum Cannabis legalization is gaining momentum around the world, offering global opportunities for can- nabis companies and related businesses. This momentum is driven primarily by the increasing recog- nit...

Bellingham, Washington
document IMAGES-008-HOUSE_OVERSIGHT_024794.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Or > A “Bw Plan fon on RO RUBICON . . ORGANICS Rubicon Organics Bellingham, Washington www.rubiconorganics.com Rubicon Organics is a licensed cannabis culti- vator specializing in the growing, processing, packaging and marketing of cannabis. The com- pany is developing greenho...

Confident Cannabis
document IMAGES-008-HOUSE_OVERSIGHT_024780.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Or LA “a Pr cre Confident Cannabis Palo Alto, California www.confidentcannabis.com Confident Cannabis is a cannabis lab-testing and analytics company. The company allows users to view the results of their product testing and analytics in an online platform. Its technol- ogy ca...

ITAL Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024806.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

A > LA RELL ITAL Cannabis Investment Report | December 2017 Cannabinoid a class of chemical compounds present in cannabis that act on cannabinoid receptors in cells in the human nervous and immune systems Cannabinol (CBN) a cannabinoid derived from THC degradation; shown to p...

08/06/03 Strangi [il — the Tax Court thumps taxpayer in Texas FLP case 2003-14
document IMAGES-006-HOUSE_OVERSIGHT_022338.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

08/06/03 Strangi [il — the Tax Court thumps taxpayer in Texas FLP case 2003-14 07/23/03 7" Circuit upholds IRS win in Hack/: no annual exclusion for gifts of LLC interests 2003-13 07/01/03 New York’s “tax traps” regarding the estate tax, GST and non-residents 2003-12 06/16/03 Mo...

San Francisco, California
document IMAGES-008-HOUSE_OVERSIGHT_024782.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Or > A “Bw Plan fon on Eaze Solutions 2O22 San Francisco, California WwWw.eaze.com Eaze Solutions is a developer and provider of an on-demand cannabis delivery-service appli- cation that enables consumers to order canna- bis products via mobile devices. The company’s mobile a...