A CEO Makes Tough Business Decisions to Turn an MSO Around - Robert Beasley
Robert Beasley is the chief executive officer of Fluent, a vertically integrated MSO in the regulated markets of Florida, Pennsylvania and Texas offering premium cannabis products and publicly traded as Cansortium Inc. ("Cansortium" or the "Company") (CSE: TIUM.U) (OTCQX: CNTMF). Before officially joining in 2020, Robert served on Fluent’s board of directors as a consultant and played a key role in driving the revitalization of the company as one of Florida’s largest medical cannabis brands. As CEO, he drives Fluent’s strategic growth initiatives, providing deep cannabis law and business development expertise to the multistate operator. Robert is a native Floridian with experience in all aspects of the cannabis industry. In 2001, Robert co-founded the law firm of Litvak Beasley Wilson & Ball LLP, where he served as counsel for multiple parties seeking to obtain cannabis licenses in Florida, Oregon, California, and Washington, D.C. Robert also participated in the legislative and rule-making process related to Florida's Compassionate Medical Cannabis Act and contributed to the Florida Medical Marijuana Legalization Initiative, also known as Amendment 2, in 2016. As one of the leading consultants in the industry, Robert has participated in the design and construction of five cannabis cultivation and processing facilities in multiple emerging cannabis marketplaces across the U.S. Additionally, he has held several board roles at prominent cannabis companies, including Chestnut Hill Tree Farm, one of Florida's initial seven cannabis licensees; FLA Extractions, which operates a hemp cultivation facility, a hemp drying facility, and recreational cannabis cultivation and processing facility in Oregon; and Montana Apothecary, LLC (d/b/a Alternative Solutions), the leading cannabis grower in Washington D.C.
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Show Notes
- Robert joined Fluent as an advisor to the board in January 2020, shortly before the CEO at the time stepped down
- Robert helped guide the company for a few months, urging the board to find a new CEO, but after multiple candidates didn’t fit the board offered him the position as he was essentially running the company already
- At that time the board wanted to sell the company, but Robert was making adjustments and the company was becoming increasingly better. Robert continued to make tough business decisions for the future:
- Closing outdoor cultivation facility in Michigan
- Closing operations in Puerto Rico, and Brazil
- Putting Columbia operations on ice
- Nixed Australia and Estonia plans
- Improving vertical operations in Florida
- Retail shops were previously running out of inventory before noon
- Prior management stuck in Green Rush days
- Fluent became asset heavy, but revenue depleted
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