Spherex Chief Revenue Officer Ryan Hunter discussed the company's significant market demand, evidenced by $250,000 in back orders. He outlined a holistic, consumer-product-focused marketing approach that moves beyond traditional dispensary pop-ups to include building strong relationships with retail staff and hosting large consumer-facing events, such as a 700-person Halloween roller skate party.
Hunter detailed Spherex's strategy to compete with illicit and unregulated hemp products by offering safer alternatives across a range of price points. He also addressed the financial challenges in the cannabis industry due to the lack of traditional banking, which necessitates immediate reinvestment of retail revenue into inventory like hardware and raw cannabis. Key product successes covered were the proprietary, defect-free 4-gram XVapes cartridge and a popular sleep gummy featuring Rishi mushrooms.