Premarket tobacco application

Uh, I wanna say it was in the 30%-plus range, uh, for, for high schoolers.

And, uh, a series of, uh, laws and regulations were p- were passed, uh, which created the PMTA process, which is a pre-marketing authorization process that you have to have for any new nicotine product.

And that's important because it plays into nicotine pouches and kind of the dynamics of what's going on today.

Uh, but, and at the end of, uh, I believe it was 2020 Uh, I wanna say it was early, maybe it was early 2025, um, Turning Point deconsolidated their, uh, uh, vapor business and put it into, uh, a JV that they own 49% of, uh, and took that off of the books.

Zyn's got a new moist product coming out.

As everybody starts rolling out moist products and the products improve and you kind of get the optionality in Sweden, like is there a place for ALT to hold onto this five or 6% market share? 'Cause I could see a world where everything goes to Zyn and Vel for a lot of reasons, or I could see a world where you kind of address it, where, where it fractures into 20 different brands.

And I'm, I'm kind of worried that the world we're in is perfect for TPV, but as the PMTA, like, uh, gets restricted, we go to one of those other two worlds, and TPV i- isn't quite a winner there.

So let's be...