WEBVTT

00:00:02.055 --> 00:00:03.535
Yeah no I think it's a good question

00:00:03.535 --> 00:00:04.735
and I think you got to go back

00:00:04.735 --> 00:00:07.035
let's say to 2020 or 2021.

00:00:07.575 --> 00:00:10.495
It's interesting when you spoke to bankers, deal

00:00:10.495 --> 00:00:11.055
makers,

00:00:11.675 --> 00:00:14.175
different partners in that industry I think people

00:00:14.175 --> 00:00:17.975
were anticipating consolidation sooner than it happened and

00:00:17.975 --> 00:00:22.175
it probably created a market disruption which was

00:00:22.175 --> 00:00:24.735
kind of the crypto winter of 2022 and

00:00:24.735 --> 00:00:26.755
then out of that you had distressed companies

00:00:26.755 --> 00:00:28.695
you had some bankruptcies you had some assets

00:00:28.695 --> 00:00:31.215
changing hands but I remember talking even in

00:00:31.215 --> 00:00:33.455
early in late 2021 with a number of

00:00:33.455 --> 00:00:36.495
people both within companies and let's say from

00:00:36.495 --> 00:00:38.775
the investment banking side and thinking consolidation was

00:00:38.775 --> 00:00:39.795
coming very quickly.

00:00:40.355 --> 00:00:41.575
You know as I view the world right

00:00:41.575 --> 00:00:45.635
now we at DarkHorse have a first philosophy

00:00:45.635 --> 00:00:48.335
of own the power and land and that

00:00:48.335 --> 00:00:50.235
that is the core asset that we want

00:00:50.235 --> 00:00:53.295
to continue to develop and we'll do that

00:00:53.295 --> 00:00:55.635
organically and likely inorganically.

00:00:56.275 --> 00:00:59.155
Organically it's happened naturally with conversations with communities,

00:00:59.515 --> 00:01:00.755
with local co-op utilities.

00:01:00.755 --> 00:01:03.335
There's opportunities being brought to us because we've

00:01:03.335 --> 00:01:05.495
been a good community partner in these local

00:01:05.495 --> 00:01:08.355
markets and then we'll always be open to

00:01:08.355 --> 00:01:11.595
inorganic opportunities that are accretive to our shareholders

00:01:11.595 --> 00:01:12.935
and we'll look at that.

00:01:13.455 --> 00:01:15.335
So I think you know to sum that

00:01:15.335 --> 00:01:17.375
up I would anticipate consolidation.

00:01:17.935 --> 00:01:19.555
I think it's too early to tell people

00:01:19.555 --> 00:01:21.795
when and make a prediction on that and

00:01:21.795 --> 00:01:23.595
I think if you look back at prior

00:01:23.595 --> 00:01:27.195
cycles people were probably right but maybe got

00:01:27.195 --> 00:01:29.455
their timing slightly off and I think that's

00:01:29.455 --> 00:01:30.915
what's going to be an interesting dynamic that

00:01:30.915 --> 00:01:31.495
plays out.