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The march towards legalization continues!
https://www.leafly.com/news/politics/these-states-could-legalize-marijuana-next-in-2023
A bit dated as published on February 17, 2023.
https://cfah.org/marijuana-statistics/
My gut feelings have been that the Feds would not legalize cannabis until 2/3 or states legalized recreational cannabis. While that may be the ultimate safe zone for taking such action Federally, the political timeline of the 2024 Presidential elections may change the calculus for the decision to legalize rec cannabis and decriminalize cannabis by the Feds. According to the link, 74% of the US population now has some form of legalized cannabis through their state legislators. These stats are prior to Minnesota going legal rec. The tipping point is near IMO.
Agree 100%.
Bud Lite is taking a pounding for that dumb move. My guess would be the only work that marketing team will get going forward is with RuPaul.
I really appreciate your contributions to this board, so I respond with all due respect. I do not agree with any dividend offering from SHWZ for the following reasons.
I think it flies in the face of the playbook, reducing cash for expansion.
The industry and company are in its infancy and so bleeding cash through a dividend scheme is just bad timing.
JD's close to vest style with the lack of serial press releases is refreshing for an OTC company, where passing gas is often celebrated with a PR by OTC CEO Hucksters.
The move would be seen widely as just a gimmick, everyone knows SHWZ is not a blue chip and no other cannabis outfit is.
As one damAcon1 posted, what if financial circumstances dictate pulling back the dividend, then the effort turns into a more harm them good move.
Your idea of SHWZ developing an internal IR department would be far less expensive and produce better results to buoy the stock price. This is a great proposal as tasking the CFO to handle investor relations is spreading Mr. Hoffmaster too thin. Let's get the most out of his talents by leaving him to the numbers and finding the best IR person for SHWZ.
We know what we have here with SHWZ and this talented Team that JD has put together. It makes it more frustrating to drift down to a buck, and still have them considered a Tier II, with most everyone else in the industry bleeding cash. IMO, we are heading into the final summer doldrums for the cannabis sector. With the Presidential elections in November 2024, cards will soon have to be turned onto the table. I will not be surprised by a rescheduling of cannabis in the spring of 2024 and decriminalization Federally to follow, with enough time to use as a campaign tool. Some form of SAFE will pass before the end of 2023. All my opinion/gut feeling or my best tea reading.
https://en.wikipedia.org/wiki/Cannabis_policy_of_the_Joe_Biden_administration
Winston Churchill was quoted as saying “Americans can always be trusted to do the right thing, once all other possibilities have been exhausted.” It was probably said based on the plodding nature of our political system that allows for too much delay in getting things done in favor of finding ways to enhance campaign contributions for every crisis or decision Congress makes. A politician's best skill is knowing how to milk a cow.
As much frustration as these cannabis summer doldrums will offer, I advise caution and patience and believe the virtue will pay off in the end.
Best regards
https://www.sec.gov/education/smallbusiness/goingpublic/officersanddirectors#:~:text=The%20rules%20under%20Section%2016%20require%20these%20%E2%80%9Cinsiders%E2%80%9D,business%20days%20on%20Forms%203%2C%204%20or%205.
Transaction reporting by officers, directors and 10% shareholders
Section 16 of the Exchange Act applies to an SEC reporting company's directors and officers, as well as shareholders who own more than 10% of a class of the company's equity securities registered under the Exchange Act. The rules under Section 16 require these “insiders” to report most of their transactions involving the company's equity securities to the SEC within two business days on Forms 3, 4 or 5.
Section 16 also establishes mechanisms for a company to recover "short swing" profits, or profits an insider realizes from a purchase and sale of the company’s security that occur within a six-month period. In addition, Section 16 prohibits short selling by insiders of any class of the company's securities, whether or not that class is registered under the Exchange Act.
It looks like Kim Rivers @ Trulieve is adopting the JD play book to go deep into core markets. This might be a quiet nod to whom some of the big players really believe will be the ultimate competition when thing get real in the cannabis biz.
https://www.wcvb.com/article/truelieve-marijuana-closing-massachusetts-dispensaries/44067981#:~:text=Trulieve%20Cannabis%20Corp.%2C%20a%20marijuana%20business%20operating%20in,the%20end%20of%20this%20year%2C%20the%20company%20announced.
WCVB : 8:26 AM EDT Jun 2, 2023
FRAMINGHAM, Mass. —
Trulieve Cannabis Corp., a marijuana business operating in 11 states, on Thursday announced plans to exit the Massachusetts industry.
Dispensaries in Framingham, Northampton, and Worcester are set to close their doors on June 30, with Trulieve expecting to completely cease operations in Massachusetts by the end of this year, the company announced.
Cannabis Control Commission records show the business' fourth Massachusetts outpost is a cultivation and product manufacturing site in Holyoke.
“These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets," Trulieve CEO Kim Rivers said in a statement provided by the company.
The measures were more immediate in California, where the company decided to close its retail location in Grover Beach and where the company previously closed dispensaries in Palm Springs and Venice.
Just a thought…..now that Justin is not an employee does he have to report his stock purchases? I’m going to assume not….my guess is he will start buying the float and then eventually take this company private…..only logical explanation I can come up with…I could be way off but the shares are so cheap.
I only picked that comparison stock because it happens to be major exchange listed and approaching an upcoming one-time dividend...timely industry comparison...and no way in heck comparing cannabis operations. A second comparison; there is also an OTC listed (sale leaseback) REIT paying over 12%...and no one seems to care (slumping stock price). Listen, I wouldn't argue a dividend...and if it is going to be annually, that is even better. I enjoy your unconventional idea, and you are right they probably waste that money annually visiting conferences and promoting the stock...to no avail. Sounds great: incentivize shareholders, get the stock price up and use it as leverage to carry out the game plan. IDK, I just don't think that the company is quite there yet. What happens if the idea just doesn't work out, liquidity doesnt increase, nor does the shareholder base?...now the company has another expense to support (or kibosh...how embarassing if they PRed it as annual and it ended up one-time) when that money could have been used for the business (acquisitions, paying down debt, etc).
To compare reverse split SNDL is a disservice.
Why wouldn't it be an annual? Is $2.75MM going to break the bank? Of course not! If the shares doubled to 110MM as issued the outlay would be $5.5MM. For anyone holding 100K of these shares that's $5K a year that no other seed to sale company pays (zero $) presently. Why the heck would that be viewed as a negative especially in this environment? This is like any promotion they make now: money well spent.
I am assuming, because we can't afford a continuous cash drain, that this is a one-time thing and not a quarterly or annual dividend? As a one-time thing, theoretically it may generate some excitement...but I am not sure it will. I think any pop would cause selling pressure before, and especially after, the dividend...because of industry sentiment...if it is not paired with federal news. Honestly, I think something similar, a one-time dividend, is supposed to happen with SNDL in regards to their Nova deal...and from what I can tell it really hasn't had any impact on the stock price nor has it garnered the investor, or potential investor, excitement one would have assumed it would have. Props given for outside-of-the-box thinking.
Side note: I saw on Twitter the CEO of Curaleaf advertising their new loyalty points system. I didn't look much into it...you know, to see if the top 'prize' is a Tesla.
Well another consideration...how many near peers could do something as bold with an average of 4x the shares already issued? This begins to have its pluses NOT for the sector, we alone can't fix that, rather the company's share price and desirability in a admitted sector of poorly run peers? A likely Tier I reply...How can they do that??? They are undercutting us at the tape! Could any of the 20 above us do this in this chart by none other than...that wannabe Robert Craig Knievel:
https://www.newcannabisventures.com/cannabis-company-revenue-ranking/ (who also blocks me on twitter)
Can one imagine the #Msogang losing their minds? Hilarity would ensue. Then sanity as what adults did would prevail and once again a new leader in the space would emerge: $SHWZ
It would be nice. Beneficial probably. More eyes? For sure. The cost would be inconsequential to the potential benefit IMO. The thing to remember is most deals are done with stock included with cash and could potential pay off in spades with less dilution. Certainly would be worth $2,5 Mil with the added buying pressure from currently holders and added exposure.
Well consider the only seed to sale company with a dividend. Not significant, no, yes? I can see arguing with a keeper of preferred about this, but what has this paid you since '21? And then ask why hang around if the sector is as bad as you say? Oh, they haven't. So just suck it up and like another bite of sh*tsandwich? Yummy! Thank you, Sir! May I have another? The box is six sided. I count you content and fully contained with such a response. There has to be a mechanism to even pull a Drugdoctor out of his funk -- and good intentions aside please think about this more carefully.
Personally, I think it would have zero impact. It's clear there are no eyeballs on the cannabis sector right now (except us few diehards), and even less eyeballs are on SHWZ, which currently averages around 40k shares per day. Zzzzzzzz....
The only catalyst that will revive the share price of SHWZ (and the rest of the cannabis sector) is meaningful legislation. SAFE, 280e, uplisting, revised Cole memo. These will all be catalysts.
Until one (or some) of these happens we're just a handful of posters on a board that not many people read.
Friday evil thoughts...Why not institute a 5% cash dividend for every share of common as issued? It would do two things:
1) Raise interest in the stock immensely-- hence liquidity and price
2) Reward investors that otherwise have had a negative return since 2021. Differentation? Indeed!
Considering the number of shares at issue this is easily done with no significant changes: 55MM float is $2.75MM in cash paid out. Double it and thats about 1 or less dispensaries acquired per year. Considering the interest now paid...easily done.
Thoughts?
Must be bad news. Always go down on good news. Ruff report will give us an indepth on the last PR and just might very well give answers that show the positively I see.
So far SHWZ is up 2 out of 2 days after Dye’s announcement.
Come on Man…..I love watching 6’ 2” guys beat girls in the 100 yard dash…..lol
I just sent SHWZ IR this email:
Dear SHWZ IR,
At the last shareholder meeting in December, I raised a question surrounding SHWZ’s ESG policies.
Yesterday, it was posted by Star Buds on Instagram that Star Buds is giving $1 of every pride joint sold to ONE Colorado, a C4 political action organization that is not tax deductible.
ONE Colorado supports allowing biological boys play in girl sports and allowing boys to use girls bathrooms in schools; and they fight for these positions politically. Source1: https://one-colorado.org/wp-content/uploads/2017/06/TransResourceGuide_2016.pdf
Source2: https://one-colorado.org/lgbtq-issues/safe-schools-colorado/
This is a terrible partnership.
ONE Colorado has a C3 tax deductible sister organization that is 100% educational that potentially would have been better, unless they educate the public on said concerned topics in this email.
I understand the importance of teaming up with these types of organizations to boost your ESG score; however, this topic will cause major backlash and you need to be way more careful on who you team up with.
Thank you,
Future2016
Shareholder since 2019
Not sure I follow any need nor utility to reinstate any prior titles? I believe he's being compensated for relinquishing same on an accelerated basis to streamline what a nonexecutive chairman does/doesn't do.
IPS, intriguing suggestion. When is Dye done and ready for sale... If the supposition is he can step back as CEO, the playbook is rolling along, he's got SHWZ to where it needs to be is true, that could come sooner than expected. Problem is, how many companies are left to make an offer. A handful at best.
Thanks for posting this - good news, both the reduction in cash related transactions, and easing (potentially) the purchase for the customer, not to mention increasing both the relevance of an online presence and the value of having multiple locations for customers to have a short drive for the pickup. But also for a new product line of psychedelics down the road should they choose to play in that space, expanding customers in CO.
NM numbers for May: https://qimw5q0w5j.execute-api.us-west-2.amazonaws.com/prod/sales.html
Dispensary count slowed to 1006. Total sales statewide off by less than 1% to $45.7MM. Third best month so far this year.
Since you’re so mad about it instead of viewing it as a buying opportunity, I’m not so sure why you’re still invested.
Nirup Krishnamurthy is also a partner of Dye Capital.
Mea culpa.
But not what you might expect. 28 and a wake up to end Q2 .
Of note...our previous CEO told us one other thing and with no cryptic nonsense implied at the time...that he'd be willing to step aside in the future if it meant a better deal for the company (buyout) as he had a fiduciary responsibility to let these things be considered.
Are we there?
Absolutely Dunno.
But was looking outside the box for a possibility why he'd take a step back from the "all the obvious fun" of running a company with an assh*le like me second guessing his-their moves here daily. Well, for what it's worth...I doubt that's it. Me: Same AH. Different day. Still long.
IR...If ifs and buts were candies and nuts...so "we" are supporting what not at all good looks like? Why? It needs to be unf*cked. ASAP. There is a very real systemic problem and no ready fix but hard work and a new (individual/set of) talented and ACTUALLY dedicated person(s.) Period. The third-party representation is just all that that isn't meaningful. This was a gold mining NH hire, imho. The company needs MORE. A f*ck load more. Sub a buck. You want balls and strikes? Shine on if another down in a day or two to a new ATL is what makes you find your happy.
Bought more today at .98 and thrilled that I did. GLTA
Again the company is running a business…I don’t really think they worry about releasing news that is going to hurt investors feelings…..this news will pass and the company will move on….if their vision is correct these will be cheap shares…..if they are wrong then we all go broke….the sector is floundering and it’s mostly due to political issues and the sector still being in its infancy….happy trading……buy the best companies on the dip and eventually you will win…..is this company one of the best? Not sure yet….good luck all
Steven…..it’s called trader talk…..when the trade goes bad the trash talking picks up…..it’s a buy signal…..retailers are running for the hills…..lol
I really don't understand this post. It doesn't reflect the nature of what has been posted here in general since the announcement. I don't see my comment that they could have managed this better as an announcement as only seeing the negative. As for positives, that still needs to be seen and addressed. As to company positives in general, almost every poster here has acknowledged it hasn't yet led them to move on. So not sure what point you're trying to make.
It's fair to point out a misstep. Otherwise only rose-colored views are being discussed. And as for Monday morning QB-ing, well, we can only react to the news when we hear it. It's all after the fact.
Glad to see the stock up today and over a dollar and I hope it holds.
I hope Dye doesn’t hit the circuit because he already tried doing it and it didn’t help the stock price. I hope someone who is willing to give more teasers than Dye hits the circuit. This sector loves to invest in things to come, and Dye held everything close to the vest without teasers. The only thing released under him that the company fulfilled was revenue and guidance numbers.
The guy really hasn’t been on board for that long.
Well, the stock price is up today.
I actually am not even sure if Nirup is going to be the final CEO over the next 3-5 years. I believe these guys were originally brought in to roll up Colorado and play in the background but found the companies that were going to be rolled up weren’t what we were being told and then they decided they needed to temporarily take over and will find qualified replacements over time.
It’s actually concerning that a lot of people on this board refuse to see any positives and have just posted negative stuff for months.
“Time is the friend of the wonderful company, the enemy of the mediocre.”
“Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.”
“A public-opinion poll is no substitute for thought.”
“If a business does well, the stock eventually follows.”
Warren Buffett
Wow everyone hates this move yet no one is selling. Monday morning QB's. Gotta love it.
This board has the most knowledgeable people who know SHWZ and have nothing positive to say and only point out their negatives and see no positives really is not being open minded.
You both have better articulated the constant 'tug-o-war' of thoughts going through my head.
Still trying to parse through everything but obviously the underlying business model hasn't changed. Dye has implemented his playbook...now it's really just plug-and-play. That is something Nirup is obviously beyond capable of doing. Hopefully Dye hits the circuit to get the word out...and can start to change the minds of cannabis investors (which is still theory...and debatable). I hate to compare to Curaleaf...but in this case it just might turn out to be a similar scenario: Matt Darrin (the CEO) and Boris Jordan (Chairman...who everyone thinks is the CEO).
Yes, it's the big chink in their armor. They execute really well only to have the messenger garble or not even carry the message forward. It's like sticking the landing with Apollo 11 and having IR discussing Apollo 9.
Well stated.
With the team they have built, IR should no longer be farmed out either. That should require a fulltime, on-site, expert that works with an external PR firm on messaging, event planning, and the news cycle of current developments that can be discussed-disseminated timely. The current apparatus is nothing like that in those terms. The investor deck is dated (still) as is the website where NK was COO as of yesterday which was quite a while ago), any event programming missing in '23 and so (grow) forth. I recall from the press release the CFO was going to undertake IR,,,when? This is a problem. It needs mid-course and terminal guidance vs unguided fire and forget. This change as is significant really highlights that missing architecture to me as well, lazur. A Linus without a blanket moment.
"As Chief Financial Officer, Forrest Hoffmaster joins the executive leadership team at Schwazze where he will be responsible for the company's finance functions including Accounting, Audit, Risk, Tax, Treasury, Financial Planning & Analysis, Investor Relations, and Capital Markets."
I get that. And it's the reason I haven't yet sold a share. But my point is, Dye could have managed this far better. For example, explain the non-executive nature of his role on the board in the PR. Make a statement about what that focus will entail in more detail, better yet, coincide this announcement with a set of actions or a schedule of investor meetings he has already on the calendar to market SHWZ and drive up interest in the stock (demonstrates this is a carefully planned move to redirect his focus and to what he's focusing on in a way that shows it's planned, in control, already moving full bore ahead). This is getting released into a vacuum, it's badly done in my opinion, and opens the door to doubt in an industry currently tanking. As I said, not a good look, or an elegant move. And yes, as a shareholder I'm disappointed to see this announcement further erode the stock price counter to the very reasons this announcement is purportedly being made.
Dye and his capital firm have way to much money involved period. Millions upon millions. If you had faith in him before it makes no sense to think he would do anything to hurt his investment
My thoughts in Doc's comment about the $800k for CEO and Dye himself. Just maybe it will be a very slow process filling the Pfesident and Dye's new position will help offset the$900k for the 3yrs.
PS. Follow the money! The questions you have asked are good ones no doubt but certainly trust is a factor. GLTY.
The issue is it's posters on this board that are guessing what the value of Dye stepping down as CEO will provide. There is no clarity on the why and the only statement regarding any potential future for Dye is his remaining on the board and the comment in the PR about focusing on shareholder value - but he's said that for years now. Stocks hate uncertainty, and this stock was viewed as Dye's baby. Stepping away from CEO raises more questions than IR is answering. I'm just trying to be realistic, not a doom slinger. I just don't see how this announcement will be spun positively in terms of investors and our share price unless Dye himself reveals more about his future commitment and activities regarding SHWZ. I don't doubt Nirup as CEO, the company can continue to forge ahead, and it would be great if Dye did come up with a plan to truly market SHWZ to investors that showcased its difference from the other MSOs. But I as a shareholder don't want to be a speculator on that. I want to hear it from the horse's mouth ASAP and see it start to happen.
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Meet the "Steve Jobs of Cannabis" and Schwazze's Chief Cultivation Officer, Josh Haupt:
https://www.youtube.com/watch?v=s36OIBT4XiQ&t=1s
Star Buds is one of the Most Recognized and Successful Retail Cannabis Operators in North America
Company Projects Pro Forma Revenue for Schwazze and its Two Acquisitions (Mesa Organics and Star Buds) of $95 Million in 2020
Company Expects to Be Cash Flow Positive Beginning in January 2021
Company Anticipates Acquiring Remaining Seven Star Buds Retail Dispensaries in Colorado during the First Quarter 2021
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