We continue to expect an expansion of listings at Walmart USA (700-800 stores) by the end of 2025e. Settles PureKana bankruptcy exposure for about 20 cents on the dollar. The PureKana bankruptcy was intended to shield TRBR against that subsidiary’s ~US$15MM of outstanding bank debt and payables. Management previously hoped to exit that bankruptcy with little to no exposure, but we understand the trustee recently became aggressive in pursuing a payout from TRBR. The Company has settled for about 20 cents per dollar of exposure (or US$3.15MM), which will likely come from a mix of the recent No B.S. sale proceeds and the VRG credit line. Management remains highly confident their outstanding credit facilities are sufficient to fund growth until the business can reach free cash flow, and we expect VRG to further backstop the Company if needed.