Good afternoon. My name is Dave, and I will be your conference operator today. At this time, I would like to welcome everyone to Jushi Holdings, Inc. fourth quarter and full year 2025 earnings conference call. Today's call is being recorded. I will now turn the call over to Trent Woloveck, Co-Chief Strategy Director. Thank you. Please go ahead. Good afternoon, and thank you for joining us today on Jushi's fourth quarter and full year 2025 earnings conference call. My name is Trent Woloveck, and I am the Co-Chief Strategy Director at Jushi Holdings Inc. With me on today's call are Jim Cacioppo, our Chairman and Chief Executive Officer, Michelle Mosier, our Chief Financial Officer, and Jon Barack, our President and Chief Revenue Officer. This call is also being broadcast live over the Internet and can be accessed from the investor relations section of the company's website at ir.jushico.com. In addition to the company's GAAP results, management will provide supplementary results on a non-GAAP basis. Please refer to the press release issued today for a detailed reconciliation of GAAP and non-GAAP results, which can be accessed from the investor relations section of the company's website. Additionally, we would like to remind you that during this conference call, we will make forward-looking statements. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance, and business. Although Jushi believes our estimates and assumptions to be reasonable, they are subject to a number of risks and uncertainties beyond our control and may prove to be inaccurate. We caution you that actual results may differ materially from any future performance suggested in the company's forward-looking statements. The risk factors that may affect actual results are detailed in Jushi's Form 10-K and other periodic filings and registration statements, which may be accessed via EDGAR and SEDAR, as well as the investor relations section of our website. These forward-looking statements speak only as of the date of this call, and Jushi expressly disclaims any obligation to update this forward-looking information. I will now turn the call over to Jim. Thank you, Trent, and thank you everyone for joining our call today. This afternoon, I'll provide a high-level overview of our performance for the fourth quarter and full year 2025, followed by an update on our recent refinancing. I will then discuss key regulatory developments, including progress toward adult use in Virginia, before turning to our operational execution across the business and broader industry dynamics. I will conclude with a review of the regulatory landscape across our key markets before turning the call over to Michelle for a detailed financial review. Beginning with our financial results, revenue for the fourth quarter was $68.3 million, representing year-over-year growth of approximately 4% compared to the fourth quarter of 2024. On a full year basis, revenue increased to $262.9 million, up just over 2% from 2024. While the top-line growth remains modest, these results reflect continued stabilization across our retail footprint, contributions from new stores opened throughout the year and enhanced product availability and quality, driven by approved operational execution at our grower-processor facilities. Gross profit for the fourth quarter was $28.6 million, representing 41.9% of revenue, compared to $25.4 million or 38.6% of revenue in the prior year quarter. For the full year, gross profit was $114 million or 43.4% of revenue, compared to $118.3 million or 45.9% of revenue in 2024. While margins were down modestly on a full year basis compared to 2024, the year-over-year improvement in the fourth quarter reflects the benefits of ongoing operational improvements at our grower-processor facilities, which have driven product quality improvements, yield and potency gains, and better product mix. These benefits were partially offset by promotional retail activity amid ongoing pricing pressure in certain markets. Adjusted EBITDA for the fourth quarter was $13.9 million, representing a margin of 20.4%, compared to $8 million or 12.2% in the prior year period. The improvement reflects the cumulative impact of the operational turnaround we began executing in late 2024, continued discipline around cost structure and better utilization of our production footprint, as well as $3 million of employee retention credits recognized in the quarter. For the full year, adjusted EBITDA increased to $50.3 million, up from $46.2 million in 2024, with margin expanding to 19.1% from 17.9%. Full year results include approximately $10.6 million of employee retention credits recognized during 2025. Building on this strong operating foundation, we took an important step subsequent to year-end to strengthen our balance sheet and position the company for the next phase of growth. On March 27th, 2026, we refinanced our existing term loan and second lien notes, which had outstanding principal balances of approximately $46 million and $86 million, respectively, and were scheduled to mature within the next 12 months. We completed the refinancing through the issuance of a $160 million first lien secured term loan due in 2029 with a 12.5% coupon structured as interest-only payments over the 36-month term. The proceeds were used to fully repay the existing term loan and second lien notes, including accrued interest and related fees, with excess proceeds to be used for general corporate purposes. The transaction was completed with the participation from a syndicate of lenders, including our two largest shareholders, myself included. As part of the refinancing, I contributed additional capital, increasing my overall position relative to my prior participation in the first and second lien debt, reflecting my continued confidence in the strength of our business and our long-term strategy. Overall, the refinancing strengthens our balance sheet and improves our financial flexibility. Importantly, this financing was completed without issuing any warrants or equity-linked securities, unlike prior debt transactions, resulting in no dilution to shareholders. Additionally, the new term loan provides $13 million of incremental liquidity to our balance sheet and includes a single financial covenant requiring the maintenance of a minimum cash balance, which we believe provides meaningful flexibility going forward. With a stronger balance sheet and approved liquidity in place, we believe the company is well-positioned to capitalize on several growth opportunities ahead, including the anticipated transition to adult use in Virginia. In Virginia, several bills were introduced during the 2026 legislative session, including HB 642 and its Senate companion, SB 542, as well as SB 671, that established the framework and sequencing for a regulated adult use market. Earlier this month, the Virginia Legislature reconciled the competing bills via conference committee and sent the final bill to the governor for her signature. Under the reconciled bill, all existing medical operators will transition to a dual use license, with applications expected to be released on or before September 1st, 2026, and license issuance on or before December 1st, 2026. Converted licenses will pay $10 million conversion fee subject to an agreed upon payment plan with the regulator. Retail sales are expected to commence on January 1st, 2027. We are encouraged by the regulatory process made and are very excited about the opportunity to transition Virginia to adult use sales on January 1st, 2027. In preparation, we are expanding cultivation capacity at our current facility and exploring development of a second cultivation site to support future demand. Importantly, our manufacturing and retail infrastructure are currently prepared to support adult use sales with minimal incremental capital investment. In markets that have expanded from medical only to also allow for adult use sales, such as New Jersey, the overall market increased significantly following the transition. Based on publicly available data, when comparing annualized medical sales prior to the launch of adult use with the first four full quarters of adult use sales, total market revenue increased by approximately 3.2 x. Assuming a similar market response, we would expect Virginia to experience comparable growth as adult use sales begin. We also want to thank Speaker Scott, Madam Chair Lucas, Delegate Krizek, Senator Aird, and countless others for their leadership in advancing this legislation and positioning Virginia to become the first southern state to pass an adult use cannabis program. We are hopeful that Governor Spanberger signs the bill within the next couple of weeks. Stepping back, 2025 was the year of execution and recovery relative to 2024. We focused heavily on rebuilding operational consistency, improving product quality, and aligning capital allocation with high return opportunities. While the macro environment remains competitive and price constrained, particularly in adult use markets, we believe the business is now meaningfully stronger than it was a year ago. From a macro perspective, competitive landscape remains tight. Pricing pressure persists across most markets, driven by supply imbalances and consumer value sensitivity. At the same time, enforcement against illicit and intoxicating hemp products remains uneven in certain regions, and we continue to engage constructively with regulators and policymakers on these issues. Against this backdrop, our strategy remains centered on execution, quality, and disciplined capital deployment, prioritizing margin, cash flow, and long-term value creation. Operational execution at our grower-processor facilities was the most important driver of improvement in 2025. Investments in genetics, facility upgrades, and enhanced cultivation and production practices translated into materially better yields, higher potency, and improved product consistency. In the fourth quarter, average yield across portfolio increased approximately 28% on a per square foot basis year-over-year, alongside an increase in A bud flower production across the portfolio. Potency remained strong in the mi to upper-20% THCA range. Together, these improvements supported a more favorable product mix across both our retail and wholesale channels. We continue to deploy high return capital into our grower-processor footprint to meet current demand in Virginia, Pennsylvania, and Ohio. In Virginia, we brought one additional flowering room online during the fourth quarter of 2025, adding approximately 3,000 sq ft of canopy within our existing footprint. Additionally, we are planning to add two more flowering rooms of similar size within the existing footprint over the course of 2026 and early 2027, increasing canopy by approximately 33%. In conjunction with this canopy expansion, we are adding hydrocarbon extraction capabilities to support a broader mix of higher value concentrate products, process more throughput, and expand product selection for patients and consumers. We are also in the design phase for a new 65,000 sq ft warehouse expansion in Virginia that would roughly double our canopy there and support expanded processing capabilities. In parallel, we are evaluating a potential expansion of our mortgage and other possible traditional financing options to support this build-out. In Pennsylvania, Phase 1 of our cultivation expansion involved converting a legacy flower room into three modernized flowering rooms, effectively creating new productive capacity. Two of those rooms completed their first harvest in January, and the third room is on track to complete its first harvest shortly. Phases 2 and 3 involve re-engineering unutilized space with the potential to add approximately four additional flowering rooms and increase total canopy by roughly 40%. We have begun ramping up Phase 2 by completing targeted pre-work and other sequencing activities while deliberately limiting capital deployment at this stage. This approach is intended to shorten the timeline required to bring capacity online once there is greater visibility into adult use sales in Pennsylvania. Importantly, these activities are being funded from our existing balance sheet, and we would not pursue additional financing to fund these projects until there is clearer regulatory direction. In Ohio, canopy increased approximately 2.4 x year-over-year, allowing us to expand production capacity while maintaining quality and consistency across the facility. We are in the design phase for warehouse expansion that would add additional canopy, though we would only proceed if market conditions and cost of capital are favorable. Turning to retail, since the end of the third quarter of 2024, we have added eight retail locations through the end of 2025, including Toledo, Oxford, Warren, Mansfield, and Parma in Ohio, Linwood in Pennsylvania, Peoria in Illinois, and Little Ferry in New Jersey. As of year-end, we operated 42 retail stores across our footprint. Subsequent to year-end, we opened an additional location in Springdale, Ohio in January 2026, and we entered into an agreement to sell our Peoria, Illinois location, subject to regulatory approval. We are actively evaluating four to five potential store relocations to improve profitability, and we continue to evaluate retail license and store acquisition opportunities in Ohio, Massachusetts, and New Jersey. We will not be moving forward with the previously contemplated Mount Laurel, New Jersey location following our termination of the underlying transaction. At year-end, Jushi had approximately 1,288 employees compared to 1,234 employees at the end of 2024. During this time, we grew from 38 stores to 42 stores while maintaining lean staffing levels and driving productivity improvements across the network. While our store count increased by approximately 11% year over year, headcount only increased by approximately 4%, reflecting our ability to scale efficiently. The performance underscores the effectiveness of our corporate and retail operating model and the execution of our leadership team. Commercially, we are evolving into what we believe is a genetics-driven product strategy. We've made substantial progress building a robust genetics pipeline and rolled out new strains across all our grower-processor facilities in 2025, with plans to refresh approximately 20%-30% of our cultivator menu annually. We believe this disciplined approach to genetics supports product differentiation and strengthens our competitive position across markets. We also continue to see growth in our private label portfolio during the fourth quarter, supported by ongoing innovation across both emerging brands such as Hijinks and Flower Foundry, and established brands such as Sèche and The Lab. During the quarter, we added approximately 280 new unique SKUs, including new offerings across these brands. These launches reflect our continued focus on refreshing assortments, expanding premium and value offerings, and meeting evolving consumer preference. As we aim to provide patients and guests with enhanced variety, and as part of our ongoing focus on retail execution, we are exploring an e-commerce AI agent to drive growth, further optimize online ordering, and recommend our expanded product offerings. On the regulatory front in Pennsylvania, the state continues to face a significant budget gap and progress toward passing an on-time and balanced budget remains an ongoing challenge. While adult use legalization efforts have not yet produced an act of legislation, there has been movement on establishing a dedicated regulatory framework for cannabis oversight through SB 49. During the fourth quarter, bipartisan legislation to create a standalone cannabis control board advanced out of the Senate Law and Justice Committee and is now awaiting consideration by the full Senate. The proposed board would oversee the existing medical marijuana program and align state regulation of intoxicating hemp products with federal regulations. We continue to monitor these developments closely as regulatory clarity will be important for long-term planning. In Virginia, in addition to the adult use bill, legislation was passed strengthening enforcement around intoxicating hemp products via SB 543, which enhances the enforcement authority, and HB 26 and SB 62, which updates unlawful cannabis criminal penalties. In Ohio, the state enacted SB 56, which updates the regulatory framework for cannabis and hemp products and effectively restricts the sale of intoxicating hemp products to licensed marijuana dispensaries. This legislation, which was signed into law in December 2025, and became effective in March 2026, is intended to close existing loopholes, strengthen enforcement by state regulators and federal agencies, and direct THC-containing products into the regulated dispensary channel. We believe these changes should support a more consistent and regulated marketplace over time. In Massachusetts, lawmakers have advanced proposals to update the state's cannabis regulatory framework, including legislation passed by the House that would increase the number of retail licenses a single operator may hold, potentially allowing up to six locations over time. The Senate has proposed a smaller increase, and the chambers continue working toward a final version. If enacted, these changes could support greater consolidation and influence competitive dynamics in the market. At the federal level, there has been incremental progress toward addressing the hemp regulatory gap created by the 2018 Farm Bill. In November 2025, Congress enacted legislation that narrows the federal definition of hemp, restricts synthetic intoxicating hemp-derived cannabinoids, and establishes new limits on THC in finished products. These changes are scheduled to take effect in November 2026. We believe these measures could help direct intoxicating THC products into the state-regulated cannabis markets over time, though the timing and broader regulatory framework continue to evolve. On rescheduling, the process to move cannabis to Schedule III remains underway, with regulatory review continuing and no final rule issued as of today. While we view this as a constructive development, the ultimate timing and scope of impact remains subject to federal rulemaking process. We'd like to thank President Trump for his leadership by signing the EO at the end of 2025. Finally, potential federal reforms that could improve capital markets access for U.S. cannabis operators, including proposals such as the CLIMB Act, remain uncertain and no legislation has been enacted. We will continue to monitor developments at the federal level. With that, I will turn the call over to Michelle for a detailed review of our financial results. Thank you, Jim, and good afternoon, everyone. I will now provide more detail on our fourth quarter results. Revenue for the quarter increased by $2.5 million - $68.3 million, compared to $65.9 million in the prior year quarter. Overall, the year-over-year increase in revenue was driven primarily by retail growth, reflecting contributions from new stores in Ohio and strong sales performance from all our Virginia stores. Revenue in our retail channel was $60.4 million compared to $58.1 million in the fourth quarter of 2024. The increase was primarily due to growth in Ohio and Virginia. Ohio represented the largest contributor due to new stores, while Virginia delivered growth across all stores, primarily driven by increased units sold, while average selling prices remained relatively flat. This growth was partially offset by continued price pressure and competitive dynamics in other markets. In addition, our focus on retail execution and customer engagement continued to support stronger performance of our Jushi branded product sales, which represented approximately 58% of retail revenue across the company's five vertical markets in the quarter, compared to 55% in the prior year. Our delivery business in Virginia continues to thrive both within our health services area and outside our HSA. For the full year, delivery sales increased approximately 29% year- over- year in our HSA two area and approximately 76% out of our HSA two area, driven by growth in the number of orders, which increased approximately 20% and 79%, respectively. Wholesale revenue was $7.9 million compared to $7.7 million in the comparable quarter of the prior year. Year-over-year increase reflects higher sales across several wholesale markets led by Massachusetts and Ohio. In Massachusetts, growth was driven primarily by increased bulk sales and expanded wholesale distribution, including placement in new dispensaries. In Ohio, the increase reflects expanded distribution and higher sales volumes. Pennsylvania also delivered steady growth across the wholesale channels. These increases were partially offset by a $1.2 million decline in Virginia, where wholesale partners continue to prioritize their own vertical sell-through. Gross profit was $28.6 million or 41.9% of revenue, compared to $25.4 million or 38.6% of revenue in the fourth quarter of 2024. The year-over-year increase in gross profit and gross profit margin was primarily driven by higher production volumes, improved product quality, and stronger performance across our grower-processor facilities, reflecting the operational improvements implemented over the past year, particularly in Pennsylvania, Massachusetts, and Ohio. These benefits were partially offset by continued pricing pressure across our footprint, which led to increased promotional activity. Operating expenses for the fourth quarter were $27.8 million compared to $27.2 million in last year's fourth quarter. As Jim mentioned earlier, we continue to add new retail locations while scaling the organization efficiently. The modest year-over-year increase in operating expenses primarily reflects costs associated with new store openings and a larger retail footprint, partially offset by the impacts of continued cost discipline. Other income and expense included $10.4 million of interest expense, which was partially offset by an $800,000 fair value gain on our derivatives and by other net of $500,000. Other net was primarily comprised of $3 million related to employee retention credit claims, including interest received from the IRS, partially offset by a $2.6 million non-cash adjustment to our indemnification assets related to acquisitions made in prior years. As with prior periods, we continue to recognize the ERC refund claims in income as the refunds are received from the IRS. As of the end of the fourth quarter, we had approximately $700,000 of remaining ERC claims outstanding, all of which were not factored. Our net loss for the fourth quarter was $15.6 million compared to $12.5 million in the prior year. Adjusted EBITDA was $13.9 million compared to $8 million in the fourth quarter of 2024, and adjusted EBITDA margin was 20.4% compared to 12.2%. Moving to the balance sheet. As of December 31st, 2025, the company had approximately $26.6 million of cash equivalents and restricted cash. Cash provided by operations was $6.1 million compared to $7.2 million provided in the fourth quarter of 2024. The change reflects working capital improvements. As of December 31st, 2025, we had $193.1 million of debt subject to repayment, excluding the $21.5 million of promissory notes issued to Sammartino that remain in dispute, as well as leases and equipment financing obligations. Our term loan with a principal balance of $46.1 million and our second lien notes with a principal balance of $86.2 million were scheduled to mature at the end of 2026. As Jim mentioned earlier, subsequent to year-end, we completed a refinancing of these facilities, which extends our debt maturities and further strengthens the company's balance sheet. For the full year 2025, capital expenditures totaled $16.1 million, consisting of $4.8 million of maintenance CapEx and $11.3 million of growth CapEx. As we consider capital expenditures for 2026, we currently expect maintenance CapEx to be in the range of approximately $4 million-$5 million, consistent with our ongoing focus on maintaining and optimizing our existing asset base. Excluding capital associated with potential regulatory changes, we currently expect 2026 growth CapEx to be in the range of $5 million-$8 million. These investments would support targeted initiatives across our grower-processor footprint and select retail build-outs. This would result in total projected capital expenditures of $9 million-$13 million in 2026. As Jim mentioned earlier, regulatory developments, particularly in Virginia, will influence the timing and scale of future capital investments. In the case of Virginia, we're developing plans for grower-processor expansion contingent on adult use. We believe a significant portion of any such expansion could be financed through an expanded facility mortgage, and we would expect the majority of construction-related capital spending to occur in 2027 rather than 2026. With that, I will turn the call back to Jim for closing remarks. Thank you, Michelle. As we reflect on 2025, it was a year defined by execution, operational recovery, and disciplined decision-making. We entered the year focused on continuing to stabilize the business, improving product quality, and strengthening our operational foundation. We believe the progress we delivered across cultivation, retail, and commercial demonstrates that those efforts are taking hold. Across the organization, we improved yields, potency, and consistency at our grower-processor facilities, expanded and optimized our retail footprint, and continued to shift our mix toward higher quality and branded products. These operational improvements are translating into stronger margins and a more resilient business model, even as pricing pressure and competitive dynamics remain elevated across the industry. Importantly, we are approaching growth with discipline. As we discussed today, we are making targeted high return on investments to support current demand while carefully sequencing larger opportunities around regulatory clarity. In Virginia and Pennsylvania, we are preparing thoughtfully for potential adult use expansion while remaining prudent in our use of capital and focused on protecting the balance sheet. Looking ahead to 2026 and 2027, we are particularly excited about the transition to adult use in Virginia. With our cultivation, manufacturing, retail infrastructure already in place, we believe we are well-positioned to participate in what will be a meaningful expansion of the Virginia cannabis market. Our focus remains on preparing thoughtfully for that opportunity while continuing to operate with the same discipline that defined our progress in 2025. More broadly, our priorities remain unchanged. We will continue to execute with discipline, focus, and operational excellence, allocate capital thoughtfully, and build a scalable platform capable of delivering sustainable profitability and long-term value for shareholders. Before we conclude, I want to thank the entire Jushi team for their dedication and hard work throughout the year. Their commitment across the organization is the foundation of the progress we have discussed today. Thank you all for joining us and for your continued support. Operator, please open the call to questions. We will now begin the question-and-answer session. To ask a question, you may press star then one on your touchtone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star and then two. Our first question comes from Frederico Gomes with ATB Cormark Markets. Please go ahead. Hi, good afternoon, and thanks for the question. My first question, I guess, two questions on the gross margins. It was a decline sequentially from 46.7% in Q3. Could you maybe talk about it? Is it related to seasonality maybe or any one-time items impacting the gross margin? And then second, you know, you did report an adjusted EBITDA margin expansion sequentially. Maybe just to clarify, you know, is that related to some of the items you mentioned that are included in the adjusted EBITDA number, or how do you square that with the gross margin decline sequentially? Thank you. I'll do this gross margin. On the gross margin, it, in the September quarter, the third quarter, we had a bulge of packaged goods, and that created a lower cost per unit, and we pulled back a little bit based upon, you know, elevated inventories. It wasn't really market related, it was just production related. We pulled back in October, November, which causes your cost per unit to go higher, if you follow what I'm saying. That was a lot of what had to do with. Also, in December you have you know, discounting related to the holiday activity, both during Thanksgiving, things like Black Friday, which we expand to three or four days of discounting. Of course in Christmas we do the 12 days of Christmas, and it's a promotional time of the year for everybody in the spirit of Christmas. In terms of EBITDA, Michelle, do you? I didn't quite catch that. Yeah. I think EBITDA improved. We had some ERC credit income during this quarter of about $3 million, which was a large contributor to the improvement in EBITDA. Got it. I appreciate that. I guess the second question just on, you know, you are increasing the percentage of branded sales into your own stores quite substantially on a year-over-year basis. How much higher can this go? You know, do you have a target in mind? You know, any sort of rough guidance on that for this year? Thank you. Yeah. I mean, we don't really target it as much as we, you know, we focus in on consumer, you know, consumer demand, patient demand. But I think it's running sort of in the 60s%, mid-60s%, in most of the markets. The market that brings the average down is Ohio, where we don't have supply or haven't been able to buy bulk at the right prices to do more branded products. We have been talking over the last six months about wanting to do an expansion in Ohio, including on this call when we did this in prepared remarks. One of our items that we have, along with Virginia, Pennsylvania, growth due to regulatory change, is Ohio, increasing the vertical in that market, which would increase margin in that market. We spent money in 2025 on expanding Ohio retail primarily, and we did some of that in 2024. You know, so you know, we have a certain amount of a budget to spend, and we decided to get the sales before we built out the grower-processor. Thank you. I appreciate that. The next question comes from Luke Hannan with Canaccord Genuity. Please go ahead. Thanks. Good afternoon. I wanted to follow up on the conversation on Virginia. Jim, if I heard you correctly, I think you said that the CapEx budget for this year is $9 million-$13 million in total, including maintenance and growth. How much of that, if any, includes a build-out in Virginia? You did mention, I think all of the, assuming when adult use lands, most of that CapEx is gonna be coming in 2027, and you're gonna also draw on a mortgage for that. Can you just frame up to us also what the size of that spend could be? I know it's in 2027, but just wanna get an understanding of the funds that you could have available for that. Yeah. I believe Jon will confirm this. I'll say it, but he's shaking his head that he will confirm if I'm right. I think what we have planned in this year is $2 million-$3 million related to building out in warehouse. We have, you know, grow rooms built that need to be, you know, equipped and updated, these kinds of things, 'cause we haven't needed that capacity for the medical market. We have two additional grow rooms. As a reminder, we have six. They're all roughly the same size, so it's two over six is the growth that I think will be primarily, if not all, for adult use. We don't think that'll be needed for the medical demand, but it may be. Some of it may be. We're also doing the hydrocarbon extraction. Next year, which this is not in this year's budget at all. There's not even sort of a budget item for, like, a deposit. We're in a construction design phase of the expansion of the warehouse. It's really another warehouse, then we join it together. Those of you that followed us for a long time realize that we have a lot of land that we purchased very well in Virginia during the COVID crisis. We bought the building and the associated land, and we're gonna build a warehouse on some of that land that roughly doubles our canopy. That is not in the budget. As Michelle noted in her remarks, we believe a substantial portion of that would be paid by expanding our credit facility. You know, we did overfund our deal for existing cash, so we believe we'll be able to have the funding for that. We're waiting for the governor's signature, and then we need to get some regulatory approval as any construction project requires. Okay, thanks. I think you also touched on it in your prepared remarks. All the medical stores there in Virginia will transition to dual-use, but it is subject to a conversion fee. Did I hear you correctly? Is that $10 million, and then it's a payment plan that's set up for that as well? That's correct. Jon, do you wanna comment on that? Yeah, sure. Luke, we get to propose a payment plan to the CCA for what we want to structure that $10 million payment to look like over three years. Okay, got it. There's no, is there any implicit interest rate that's included in that, or it's just a flat, we can chop it up a third? A third. We could do a third. We could propose whatever we would like to do. First payment would have to be made by December 1st of this year, with expectation of sales starting on January 1, 2027, and then we can space it out however we see fit and agree with the CCA on that. Got it. Okay, thanks. I'll pass the line. Thank you. This concludes our question and answer session. I would like to turn the conference back over to Jim Cacioppo for any closing remarks. Great. Thanks for everybody for attending. We appreciate it. Have a good day, and thanks again to all the great Jushi employees. We appreciate your effort. Bye-bye. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.