Ann: Acquisition and entry into the Medicinal Cannabis Market, page-68

Great points, it's tough to compare the markets however. Australia is listed as the 3rd highest user in the world as pc of GDP, and the highest healthy economy (NZ comes in as well). Aus cannabis industry is somewhat more mature than Germany's remarkably enough. Which is a double edged sword, it means there is real opportunity for HAPA to be one of the few major players in Germany, which has the highest predicted uses in the eurozone. So it's a ripe market, but I'm not sure comparisons between Germany and Aus markets serve too well.

It APPEARS to me that HAPA is positioning to be more a provider of "lifestyle" marijuana use via medical system (a la California), and direct doctor to patient subscriptions of traditional MJ that's more pure "dope" (Germany is designing a system for subscription of flower different to Canadian system)...??? this is just my impression. (The other possibly bearish factor, is what I'm discovering, it's tough to research a company in a different language. That's why the ???, it's lot of guesswork currently)

The Australian industry is currently more medical research based in terms of its high flyers, looking at complicated research and discovery of the the medical principles of the drugs for medical use in Cannabis plants seemingly aimed more at pure medicine than recreational use (apart from a few making Cannioil and honey infusions...). That's my take on it anyhows. Happy to hear conversation that suggests otherwise. A trite analogy would be HAPA aims the Big Tobacco where Aus cos aim to be Big Pharma (???).

Personally, I think the "retail" approach is both more assured and a faster path to revenue, if it turns out HAPA IS doing that (???), but has less moat, but it's all about first mover now, so moat is pretty irrelevant. There's also going to be huge companies coming on board later such as tobacco companies, alcohol manufacturers, so positioning is ALL of the game, and HAPA APPEARS to be in the lead pack in Germany, which coincidentally puts it in the lead pack in Europe. A couple euro sites are predicting Germany and Netherlands to be the Eurowide majors)