Dec. 20, 2025

MedX Holdings, Inc. ($MEDH) - Path to an 70X Return

MedX Holdings, Inc. ($MEDH) - Path to an 70X Return

💡 Welcome to Make Money, part of the Finance Frontier AI podcast network — where we break down asymmetric opportunities by focusing on structure, survival, and right-tail probability rather than hype. In this episode, Max Vanguard, Sophia Sterling, and Charlie Graham analyze MedX Holdings, Inc. ($MEDH), a cannabis-adjacent microcap operating at the intersection of retail franchising, hospitality, and embedded software — and why it represents a long-dated equity option with a potential 70X right-tail outcome if execution aligns.

🔹 Current Price — $0.0009 (OTC Pink).
🔹 1-Year Outcome Range — Survival validation or thesis break (no price prediction).
🔹 5-Year Right-Tail Scenario — ~$0.06–$0.07 (≈70×) if franchising and platform monetization scale.
🔹 FY25 Revenue Guidance — ~$1.5M (company guidance).
🔹 Q3 2025 Revenue — $568K; nine-month revenue: $1.29M (+130% YoY).
🔹 Operating Status — Reported operating profitability in Q3 2025.
🔹 Primary Assets — LazyDaze + Coffeeshop franchise system, Leaf-trak POS platform, Smart Brand Digital.

📊 The Asymmetric Framework

Most OTC microcaps fail. MEDH is not an unfiltered case. It already shows real revenue, current filings, operating locations, and early profitability.

After filtering for companies with functioning businesses and regulatory compliance, outcomes over five years roughly look like this:

🔸 ~60% fail or dilute heavily.
🔸 ~25% survive without meaningful upside.
🔸 ~10% reach moderate success (5–10×).
🔸 ~2–4% achieve a true right-tail outcome through national scale and platform monetization.

This episode is not about prediction.
It defines what must happen to stay alive, and what must happen to earn a 70× outcome.

 

🧱 12-Month Survival Gate

For the thesis to remain valid over the next year, MEDH must:

✅ Maintain operating profitability without emergency dilution.
✅ Convert signed franchise agreements into operating, cash-flowing locations.
✅ Demonstrate early third-party adoption of Leaf-trak beyond internal use.
✅ Preserve Pink Current status with timely, clean filings.

Failure at this stage does not lead to “underperformance.” It leads to capital loss.

🚀 5-Year Right-Tail Gate

A true 70× outcome requires structural transformation:

🔹 Franchising evolves from founder-led execution into a repeatable system.
🔹 Leaf-trak becomes a standalone, revenue-generating platform used by external operators.
🔹 Capital discipline remains intact — growth funded organically or via non-dilutive structures.
🔹 Share structure and governance mature enough to support an uplist and institutional access.

Without these changes, upside compresses sharply.

⚖️ Kill Signals (When the Math Breaks)

🔻 Filing delays, amendments, or loss of Pink Current status.
🔻 Franchise announcements that fail to translate into openings over 12–18 months.
🔻 Rising share count without proportional EBITDA growth.
🔻 Management narrative drift into unrelated “hot” sectors.

These are not red flags — they are exit signals.

🎯 Portfolio Construction & Allocation

🔹 Base Allocation — ~1% position size.
🔹 Scaling Rule — Exposure must be earned through execution milestones.
🔹 Mindset — Most outcomes are zero. The strategy works because one winner pays for many losses.

🧠 Why This Setup Is Asymmetric

🔹 Valuation Asymmetry — Market prices MEDH as a fragile microcap, not a scalable system.

🌐 Explore More Asymmetric Frameworks

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Picture this, a micro cap
trading at 0.00009.

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00:00:15,960 --> 00:00:19,640
No hype, no volume spike, just a
company quietly trying to

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survive.
Today we are not pitching a

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stock, we are dissecting a
question.

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What would have to be true for
Medics Holdings to ever justify

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a 70 times outcome?
This is a make money case study

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in asymmetry.
Most.

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People here 70 times and they
shut their brain off.

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That is the wrong reaction.
The right reaction is to ask

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what structure would have to
change.

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Not price, not sentiment.
Structure.

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Because if structure does not
change, this goes to zero and

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stays there.
And before we go any further,

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let us be clear.
This is not a prediction.

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This is not a recommendation.
Micro caps fail all the time.

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Illiquidity is real.
Dilution is real.

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Opportunity cost is real.
The only reason to study this is

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to sharpen how you think about
asymmetric risk.

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Exactly.
In this episode, success does

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not need to happen for the
episode to be valid.

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Failure does not invalidate the
work.

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We are stress testing a
framework.

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We are asking what must happen
in the next 12 months and over

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five years for a fragile
business to become a small but

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durable platform.
And we will be explicit about

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sizing this Love's at 1%, not
more.

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You earn the right to scale only
if execution proves itself.

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If you are looking for comfort,
this is the wrong episode.

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If you were looking for clarity,
stay with us.

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I am joining from Austin.
I have spent the week reviewing

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failure paths in franchised
retail and cannabis adjacent

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businesses.
Most do not break because of one

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big mistake.
They break because small

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promises quietly stop
compounding.

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That is what I'll be watching
for today.

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I am in New York.
I've been working on asymmetric

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allocation math and how right
tail outcomes distort intuition.

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This episode is about slowing
that intuition down.

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I am in San Francisco.
I've been mapping where markets

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miss price survival.
Sometimes that mispricing

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creates opportunity, Most of the
time it creates traps.

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Let us figure out which this
could be.

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Subscribe on Apple or Spotify,
follow us on X and share this

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episode with a friend.
Help us reach 10,000 downloads.

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Help us keep the AI Frontier AI
series in business.

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Let us ground this in reality.
Medics Holdings trades around

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0.0009 today.
The company reported strong Q3

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momentum in 2025 with revenue
growth, positive operating

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income and expanding franchise
commitments.

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Those are facts, not opinions.
And context matters.

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This is not a blank shell.
There are real stores, real

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customers and real regulatory
exposure.

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The core asset is the Lazydays
Plus coffee shop concept paired

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with a franchise model and an
internal technology stack that

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management believes can scale.
But scale is the keyword.

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At roughly 1.5 million in
projected full year revenue,

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this is still a survival stage
business.

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Positive operating income is
encouraging, but it is fragile.

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One delay 1.
Cost overrun 1.

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Regulatory issue can reverse it
quickly.

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The business model has three
layers.

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First, company owned and
franchised Lazydays locations.

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Second, franchise fees and
royalties as the footprint

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grows.
Third, technology and services

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including the leaf track, point
of sale platform and smart brand

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digital support.
The idea is diversification

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inside a single ecosystem.
This is where many listeners get

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confused.
They hear cannabis and think

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commodity retail.
That is not the ambition here.

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The ambition is hospitality plus
compliance plus software.

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If that stack works together,
margins and repeatability

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improve.
If it does not, complexity

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becomes a liability.
I want to underline that last

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point.
Multiple business lines do not

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automatically reduce risk, they
often increase execution risk.

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The question is not whether Leaf
Trac exists, it is whether third

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parties will pay for it and
whether it works outside the

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founders own stores.
Recent disclosures point to five

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new franchise agreements across
Texas, Maryland and a flagship

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location planned for Las Vegas.
These are commitments, not

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revenue, Yet they matter only if
they open on time and operate as

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designed.
So today what exists is simple,

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A micro cap that has stabilized
operations, found early

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traction, and is attempting to
move from survival to

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validation.
Everything beyond that is

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optionality.
And optionality cuts both ways.

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The upside is large only because
the base is small and the odds

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are low.
That is the mental frame we need

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before we go any further.
Before anyone talks about a 70

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times outcome, we have to pass a
much harder test.

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Survival.
This segment is about one

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question only.
What must happen in the next 12

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months for this thesis to remain
alive at all?

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Not thrive.
Not rewrite.

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Simply stay alive.
I want to frame this as a gate.

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Most micro caps never pass it.
Out of 100 setups like this, the

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majority fail right here.
So the right way to think about

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the next year is not upside, it
is whether MEDH can clear 3

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survival conditions without
cheating the capital structure.

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Let me make that concrete
Condition one is operating

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reality.
The company reported operating

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profitability in Q32025 over the
next 12 months.

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That must repeat.
Not one good quarter, multiple

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clean quarters where revenue
covers operating costs without

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emergency financing.
If that breaks, dilution usually

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00:05:40,600 --> 00:05:42,800
follows and the thesis weakens
fast.

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00:05:43,080 --> 00:05:45,120
And this is where a lot of
investors fool themselves.

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Survival profitability is
different from growth

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profitability.
A single quarter can be a

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counting noise.
What matters is consistency.

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Same pattern, same margins, same
discipline.

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If they need the market to keep
the lights on, the option

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decays.
Condition 2 is conversion.

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Signed franchise agreements must
turn into open locations.

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Houston, Maryland, Vegas.
Paper deals do not count, Cash

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flowing stores do.
This is where repeatability gets

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tested.
If opening slip again and again,

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the model is not ready for
scale.

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This is critical.
The market has seen endless

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press releases about pipelines.
It only reprices when units open

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on time and behave similarly.
If every location is a special

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case, this is not a system.
And without a system, there is

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no right tail.
And there is a quiet risk here.

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Variation.
If some stores work and others

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struggle badly, that tells you
the model is fragile.

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A franchise system only works
when average operators can

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succeed, not just exceptional
ones.

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Condition 3 is platform proof.
The software must move from

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internal use to external
revenue, even small, even early.

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What matters is proof that
someone outside the company is

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willing to pay for it.
Without that, this remains a

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retail story, not a platform
story.

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If all three happen, survival
odds improve materially.

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Not success survival.
The company earns time.

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If even one fails, especially
through dilution or delayed

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filings, the probability curve
shifts sharply against

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shareholders.
And This is why we call this a

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gate.
You do not argue your way

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through it.
You either pass it or you do

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not.
That is the lens for the next 12

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months.
Not hope, not narrative

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structure.
Pass the survival gate and only

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then does the long term
conversation begin.

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Here's the real problem for
investors.

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In micro caps, almost everything
looks like a signal.

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Press releases, new locations,
social posts.

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But most of it is noise.
So the question is simple, what

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actually matters?
I will frame it this way.

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Signals reduce uncertainty,
Noise increases excitement

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without reducing risk.
For MEDHA, real signal is boring

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consistency, same store
economics, predictable margins

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on time filings.
And that boredom is

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uncomfortable.
People want catalysts.

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00:08:04,760 --> 00:08:08,160
They want fireworks, but the
market only reprices micro caps

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00:08:08,160 --> 00:08:10,840
when uncertainty drops, not when
hope rises.

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00:08:11,320 --> 00:08:14,360
A good example is franchise
announcements. 1 Announcement

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means nothing.
Three locations opening on

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00:08:16,600 --> 00:08:19,800
schedule with similar
performance starts to matter. 5

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Doing it makes people pay
attention.

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00:08:21,720 --> 00:08:23,800
The same logic applies to leaf
track.

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00:08:24,200 --> 00:08:27,400
A pilot is noise.
A pilot converting to a paying

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customer is signal.
Multiple customers renewing is a

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strong signal.
I will add one more filter.

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Watch what management stops
talking about.

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00:08:36,039 --> 00:08:39,200
If a theme quietly disappears
from updates, that is often more

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informative than what is being
promoted loudly.

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This is operator thinking.
You are not reacting to

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headlines, you are tracking
repeatable outcomes.

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00:08:47,760 --> 00:08:49,480
That is how you stay ahead of
sentiment.

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00:08:49,720 --> 00:08:51,880
And This is why we slow the
episode down here.

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If you cannot separate signals
from noise, this entire

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framework collapses.
Here is the second anchor

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question.
What would actually have to go

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00:09:01,240 --> 00:09:04,880
right over five years for a 70
times outcome to even be

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00:09:04,880 --> 00:09:07,760
possible?
Not likely, just possible.

176
00:09:08,440 --> 00:09:12,600
First, franchising has to become
a machine, not a deal by deal

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effort.
Stores open on schedule.

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00:09:15,280 --> 00:09:18,480
Economics look similar, Support
scales without breaking.

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That alone is a major filter.
And most companies fail right

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00:09:22,240 --> 00:09:24,440
there.
Franchising exposes every

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weakness, training, compliance,
culture.

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If the core is fragile, scale
amplifies the damage. 2nd, the

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software and systems layer has
to mature into a real platform,

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not just technology that exists,
but technology that third

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00:09:38,760 --> 00:09:42,720
parties rely on, Recurring
revenue, clear operational

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00:09:42,720 --> 00:09:44,960
value.
This is where convexity can

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emerge.
A small platform that works does

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not need to dominate the
industry, it just needs to exist

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credibly.
That alone can change how the

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market values the business.
But timelines matter.

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00:09:55,720 --> 00:09:59,280
Platform adoption is slow.
If adoption stalls or remains

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00:09:59,280 --> 00:10:02,280
internal, only the five year
math compresses fast.

193
00:10:02,480 --> 00:10:06,320
Third, capital discipline must
hold growth funded through

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00:10:06,320 --> 00:10:09,640
operations and partnerships, not
repeated dilution.

195
00:10:10,080 --> 00:10:13,400
Dilution does not kill upside,
but it lowers the payoff curve

196
00:10:13,400 --> 00:10:16,520
each time.
If these conditions align not

197
00:10:16,520 --> 00:10:19,560
perfectly but directionally, the
right tail stays alive.

198
00:10:20,160 --> 00:10:24,040
If one breaks, the 70 times
outcome does not fade slowly, it

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00:10:24,040 --> 00:10:26,400
snaps.
That is the reality of equity

200
00:10:26,400 --> 00:10:30,280
options in public markets.
Most of the value comes from not

201
00:10:30,280 --> 00:10:32,640
breaking the structure.
This is the segment that

202
00:10:32,640 --> 00:10:36,120
separates thinking from hoping.
We need to talk base rates.

203
00:10:36,360 --> 00:10:39,120
Not stories, not conviction base
rates.

204
00:10:39,560 --> 00:10:42,240
Out of 100 micro caps like this,
most fail.

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00:10:42,600 --> 00:10:45,360
That is the starting truth.
Let me put numbers on it.

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Roughly 80 collapse completely.
They burn cash, hit regulatory

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walls, or dilute until nothing
is left.

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Another 15 survive but destroy
shareholder value slowly.

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That leaves maybe 5 outcomes
worth discussing.

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And even inside those five, most
are not life changing. 4 might

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deliver modest wins 5 * 10
times.

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If everything goes right, only
one becomes a true right tail

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outcome.
That is the lottery ticket.

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This is why position sizing
matters more than belief.

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You are not betting on
certainty.

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You are buying exposure to a low
probability branch with

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00:11:21,160 --> 00:11:24,640
asymmetric payoff.
That only works if you survive

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the failures emotionally and
financially.

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Now let us define kill signals,
not disappointments.

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Kill signals first.
Emergency dilution.

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If new shares are issued to fund
operations instead of growth,

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the option structure collapses.
2nd governance decay, late

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00:11:43,680 --> 00:11:47,320
filings, amended reports,
communication that gets less

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00:11:47,320 --> 00:11:51,760
precise over time in micro caps.
Credibility is not soft, it is

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the asset. 3rd franchise drift
deals that stay signed but

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unopened.
Locations that open and quietly

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00:12:00,120 --> 00:12:03,040
underperform.
That tells you the model is not

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repeatable.
Without repeatability, there is

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no right tail. 4th narrative
pivots.

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When management shifts focus
every quarter, the company stops

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00:12:13,200 --> 00:12:15,120
compounding and starts
improvising.

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That is usually the beginning of
the end.

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The key discipline is this.
You do not wait for confirmation

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00:12:20,960 --> 00:12:23,720
of failure.
You exit when the probability

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structure breaks.
Capital does not care about

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intentions.
This is why we frame MEDH as an

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00:12:29,200 --> 00:12:32,360
option, not a promise.
The moment the structure no

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00:12:32,360 --> 00:12:35,840
longer supports the option, the
rational move is to walk away.

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00:12:36,280 --> 00:12:40,240
This is where everything comes
together, the math, the mindset

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00:12:40,440 --> 00:12:44,440
and the discipline.
MEDH is not a conviction bet, It

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is an asymmetric position.
At the current price of 0.0009

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00:12:49,840 --> 00:12:54,440
this is sized like a long dated
equity option, 1% allocation,

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00:12:55,040 --> 00:12:57,480
not more.
That way a total loss is

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survivable, but a right tail
outcome matters.

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00:13:00,840 --> 00:13:02,880
And that sizing is not
conservative.

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00:13:02,920 --> 00:13:06,000
It is precise.
Most investors fail here by

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00:13:06,000 --> 00:13:09,120
oversizing early and then being
forced out emotionally before

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00:13:09,120 --> 00:13:11,360
the thesis resolves.
The rule is simple.

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Start at 1%.
Do not add unless execution

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00:13:14,840 --> 00:13:19,520
proves itself. 2% only after
sustained profitability and real

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00:13:19,520 --> 00:13:23,720
platform traction, 3% only if
the structure clearly shifts.

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00:13:24,040 --> 00:13:27,640
This is not buy and forget, it
is monitor and decide.

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00:13:27,960 --> 00:13:31,240
You are constantly asking is
uncertainty going down?

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00:13:31,640 --> 00:13:34,960
Is repeatability improving?
Is capital discipline holding?

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00:13:35,120 --> 00:13:37,080
And you must accept opportunity
cost.

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00:13:37,440 --> 00:13:41,280
This capital could be elsewhere.
That cost only makes sense if

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the option structure remains
intact.

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If this way of thinking
resonates, we have explored it

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00:13:46,120 --> 00:13:50,760
deeper in the mindset series The
Asymmetry Investor, The Math of

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00:13:50,760 --> 00:13:53,720
Conviction, and The Asymmetry
Mindset.

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00:13:53,840 --> 00:13:56,760
How to see 100 Ties before it
happens.

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00:13:57,200 --> 00:14:00,560
Those episodes focus on how to
size risk before outcomes are

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00:14:00,560 --> 00:14:03,440
known.
If MEDH succeeds, the framework

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00:14:03,440 --> 00:14:05,560
works.
If it partially succeeds, the

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00:14:05,560 --> 00:14:07,880
sizing works.
If it fails, the loss is

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controlled.
No outcome breaks the process.

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00:14:10,720 --> 00:14:14,400
That is what separates operators
from tourists in micro caps.

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00:14:15,200 --> 00:14:19,440
Subscribe on Apple or Spotify,
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Help us reach 10,000 downloads.

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00:14:22,920 --> 00:14:25,280
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00:14:25,280 --> 00:14:27,440
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Special thanks to Vibe Tracks

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00:14:27,440 --> 00:14:30,280
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00:14:30,280 --> 00:14:33,760
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00:14:33,920 --> 00:14:36,880
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Voices in this episode are AI

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00:14:36,880 --> 00:14:39,560
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