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I am gonna guess that some of the new locations are waiting to be turned on whereas others, that are in close proximity to another R.Greenleaf location, may just be transitional locations. Strange that there are 3 Las Cruces locations within a few buildings of one another (on a map. I am unfamiliar with the area). Per the NM CROP site, the one Las Cruces has no adjustment in sales totals whereas one of the two new locations (with no June sales) posted almost $386K for the month of July. I wonder what the plans is for that third location?
R. Greenleaf in Hobbs, NM now included as open: https://rgreenleaf.com/stores/recreational-marijuana-dispensary-hobbs
Interesting. I am not trying to dismiss your find, but this lawsuit seems like a copy/paste from others that I have seen filed against other Tier 1 MSOs...like to the word, just <insert name here>.
Detailed analysis of Schwazze's Acquisition Playbook:
https://www.reddit.com/r/SHWZ/comments/13j5glw/breaking_down_schwazzes_acquisition_playback_on/
Got it! 50,000 shares bid whacked - but no dumping... lol lol someone unloading whatever we want to call it.
Dumping shares would be at any and all prices dropping the bid down dramatically…..a big dump would drive this down 20-30 cents…..could it happen? Absolutely……it’s not happening right now….this is a few retailers bid whacking…….we saw dumps before and it was consistently 10k-20k on the ask….but you keep laughing and thinking what you want…..meaningless to the stock price.
Ok, not dumping shares today either, just bid sitting and buying as they whack the bids, lmao
Curaleaf And Trulieve Lead The Pack In Tax Payments: A Look At 16 Cannabis MSOs' Liability, Income And More
BENZINGA
10:18 AM ET 08/01/2023
How are major players in the cannabis sector handling their tax obligations, and what does it reveal about their financial strategies?
A recent equity report by Zuanic & Associates sheds light on the tax payments and liabilities of 16 Multi-State Operators (MSOs) in the industry during CY22.
The findings expose a wide range of approaches, sparking questions about accounting practices and the use of tax debts as a funding source.
Key Findings And Top Contributors
According to the report, the 16 MSOs reviewed collectively paid a staggering $761 million in income taxes in CY22. The report highlights that payments as a percentage of gross profits can vary significantly among MSOs. Ideally, the statutory rate for income taxes on gross profits should be in the low to mid-20s for most companies.
Curaleaf (OTC:CURLF) and Trulieve (OTC:TCNNF) emerged as the top contributors, with $156 million and $147 million in tax payments, respectively.
The three largest MSOs, including Green Thumb (OTC:GTBIF), accounted for a substantial 55% share of the total income taxes paid within the group during the period.
Acreage (OTC:ACRHF) and Ascend reported ratios in the low to mid-30s, while Columbia Care (OTC:CCHWF), Curaleaf, Green Thumb, MariMed (OTC:MRMD) and Trulieve fell within the low to mid-20s.
Planet 13 (OTC:PLNHF), Schwazze (OTC:SHWZ) and Verano (OTC:VRNOF) showed ratios in the mid to high teens, while TerrAscend (OTC:TRSSF), Cresco (OTC:CRLBF) and Jushi (OTC:JUSHF) were in the 10-12% range.
4Front (OTC:FFNTF) was an outlier with just 5%, while Tilt (OTC:TLLTF), being exempt from 280E due to its hardware accessories business, reported 1%.
Income Tax Puzzle
The report raises questions about the reasons behind the varying income tax to gross profit ratios. It suggests that accounting and deferred tax issues might play a role. However, it also might be that some companies are utilizing tax debts as a low-cost funding source.
The data showed that 4Front and Verano had the highest income tax liabilities as a percentage of gross profits, at 89% and 60%, respectively.
Several other MSOs, including Acreage, Ascend, AYR (OTC:AYRWF), Cresco, Curaleaf, Jushi and TerrAscend, were in their 20s.
In contrast, Green Thumb and Tilt reported single-digit figures of 1% and 3%, respectively.
The report also examines the relevance of income tax paid to sales ratios, taking into account various gross margins across MSOs.
Companies with higher gross margins, such as Green Thumb, Schwazze and Trulieve may have a different approach to tax liabilities compared to those with lower gross margins.
"The income tax paid (or ST tax debt) to sales ratio may be less relevant given various levels of gross margins across MSOs: In CY22, only three MSOs had gross margins of 50% or higher (Green Thumb, Schwazze, Trulieve)," per the report. Meanwhile, MSOs like Ascend, Columbia Care, 4Front, Jushi and Tilt had gross margins below 40%.
Meet Pablo Zuanic, from Zuanic & Associates at the Benzinga Cannabis Capital Conference, the place where deals get done, returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.
I’d hardly call that dumping shares all day…..some retailer whacked that bid….believe me I thought about doing it myself….but I continue to hold.
The seller dumped shares all day. It really doesn't matter what the company does, until this seller finishes unloading his shares. If he has several million shares, well, ...
An analysis of SAFE Banking's impact on Schwazze posted on the SHWZ Reddit group:
https://www.reddit.com/r/SHWZ/comments/13iiq26/potential_impact_of_safe_banking_on_schwazze/
I suppose their focus with Q2 on the way has forced a hasty revisit with what are their dated materials. That said...it requires a cell to scrub the website and bring it current, make the numbers add up the same everywhere and get these deals as announced for locs and links on the site and into briefs out of the nebulous ether where they are hiding at present. Example...Fort Collins/Garden City, CO? What of those Star*Buds?
Updated Public Dispensary Count:
— Cannalorian (@Cannalorian) July 31, 2023
- $GTBIF (FL 9th)
- $TRSSF (MD 4th - Acquisition)
- $TCNNF (FL 127th)
- $VRNOF (FL 70th)
- $VRNOF (CT 3rd)
- $AYRWF (FL 62nd)
- $SHWZ (NM 37th)
- $TLLTF (MA 3rd) https://t.co/ZEQA2xfE52 pic.twitter.com/UhlAdzjJoM
Nice BID at .90 - Let's see if the seller hits it or if they make him pay up to play!
Thanks for that link.
A deconstruction of SHWZ's past and expected Cash Flows from the Schwazze Reddit Group:
https://www.reddit.com/r/SHWZ/comments/13fntdj/deconstructing_schwazzes_free_cash_flows_and_why/
If people get their driver's license revoked because ithey can't drive anymore then a senator especially should step down as he has much more important job to make quick decisions that benefit the country. If sleepy Joe is sleepy this guy's just stoned sleepy.
and suddenly the table turns against federal legislation yet again . behold the absolute worst news of 2023 . https://www.nbcnews.com/politics/congress/mitch-mcconnell-vows-serve-full-term-republican-leader-rcna96864
Throw in Chuckie, Booker and sleepy Joe and we might have a rally…..lmao
Pablo Zuanic put out a document with some interesting metrics:
https://zuanic.worldflowconnect.net/opendirect/43521bd8-4cb0-4990-8f72-edd408360cca/230728%20280E%20and%20Rescheduling.pdf?token=600d9386-e2c6-469d-b47d-5cdc5e47a804&extension=.pdf
Updated Sharecount Analysis on Schwazze:
https://www.reddit.com/r/SHWZ/comments/14ldomk/updated_share_count_analysis_for_schwazze_62823/
Prior Sharecount and Accretion Analysis of Schwazze
https://www.reddit.com/r/SHWZ/comments/13lsiim/analyzing_schwazzes_share_count_and_accretion/
Updated Share Count Analysis on SHWZ
https://www.reddit.com/r/SHWZ/comments/14ldomk/updated_share_count_analysis_for_schwazze_62823/
Yup, I can't believe voters keep putting these fossils back in office.
They did not give me any clarification as to why the NM sites number didnt jive with theirs. They did make mention of the upcoming quiet period. What I noticed when I sent my second follow up, to Joanne, was that I received a no longer valid email for her with direction to contact Forrest. Forrest was very quick to reply, and directed any future inquires to Sean, from Elevate IR (a new third party IR firm). Sean also replied (twice) in a timely manner (both times).
Where is the "Amen!!" button?
It looked as though he was having a seizure on camera. None of them seemed terribly alarmed, so it's probably happened many times off camera, and they just don't let it be known.
McConnell and Feinstein BOTH need to go. NOW. It will help cannabis for sure if Mitch is gone.
here is the tallest speed bump in legalization progress quickly turning into dust in the wind . finally . when this prique is out , the bulls will start running .
Wow. They sure got back to you in a timely manner ...from the beginning of May? So, what are these...as licensed by the State of NM, illusory or coming soon?
R GREEN LEAF ORGANICS INC/ RETAIL US 550 242 US-550, BERNALILLO, NM 87004
R. GREENLEAF ORGANICS INC - CAMINO REAL RETAIL 1901 W. Joe Harvey Blvd. Suite 130, HOBBS, NM 88240
R GREENLEAF ORGANICS INC/ RETAIL PASEO DEL PUEBLO SUR1014 Paseo Del Sur, TAOS, NM 87571
R. GREENLEAF ORGANICS INC - RT 66 BLVD RETAIL 3404 E Rt 66 Blvd, TUCUMCARI, NM 88401
So Earnings will get a boost from the lower stock price, as the "derivative charges" will add to the earnings total. Of course, the pundits will ignore this earnings boost completely since it is going to add to earnings. They always use it however when the stock is up to show the losses. I think over all, they will show a small positive with those charges. Anyone else?
Make sure to check out the Schwazze reddit group at www.reddit.com/r/SHWZ . You can also join the Schwazze whatsapp group there.
After I was confused with the CROP site results showing 57 R.Greenleaf and Everest locations, I outreached to IR inquiring as to the accuracy. I was told, "We now have 32 locations in New Mexico under the R.Greenleaf and Everest banners." I also questioned last quarters transaction count, and basket size, per state, and was told that the information was not publicly disclosed last quarter...and that the company would be evaluating what metrics to provide on a constant basis moving forward.
I am not necessarily losing faith in the company, and their ability to be a difference-maker in the industry, but the frustration is starting to build. When you provide this information the 3 prior quarters, and then intentionally omit them, raises a red flag with me...and it causes me to have a harder time getting behind any future comment that the company is operating above a state threshold because the quantifiable evidence is missing to support the claim.
Looks like JD is back from his european vacation
No tail. No wag. But happening despite any fanfare.
1. Standing Akimbo open in two locations no link on Schwazze's website though: https://www.standingakimbodenver.com/
Standing Akimbo, one of Colorado's leading retail operators, is seeking passionate individuals to join Standing Akimbo's exceptional team. With a mission to improve the health and lives of our patients, we take immense pride in serving the Colorado medical marijuana community. Standing Akimbo is proud to be a part of the esteemed Schwazze family, a collective of industry pioneers who value innovation, excellence, and community. With our unwavering dedication to providing unparalleled service, we're revolutionizing the cannabis industry and setting new standards for retail operations in Colorado. For more information, check us out at:
https://www.standingakimbodenver.com/
2. Everest added to retail banners on Schwazze's website: https://schwazze.com/our-brands/
3. And in other news... 124 shares moves the stock back down to $0.87...flushed with all of this good news? Oh, there's a reason...pen to paper time and marketing what there is so investors don't have to guess?
nice to see it hold on to the end, but again, 34k shares traded. Not exactly on fire.
Yes, sigh. They get their 7% and 13% interest payments regardless of the stock price... I wish I would have understood how this company was being structured sooner... sigh...
At least TLRY injected some good news into the sector today, with their earnings beat. If a few others like them that are more actively watched can do a beat, that would bring eyes and dollars back to the sector. Whether any of that would spill over to SHWZ seems unlikely in the current radio silence from management.
Preferred Shareholders continue to rack up whatever profits are being generated by the company, and the problem with using all these shares to acquire businesses is that if someone that acquired shares that are now off restrictions decides to bail, then we get the kind of selling we have started to see this week. And with no sector momentum at all, the stock continues to tank with no end in sight. Company silence speaks volumes about the fact that they just don't seem to care about the stock price... What can reverse this trend?
And a new 52-week low. Harumph! Harumph?
I don't know about the BS pps numbers as suggested you've come up in the $0.60-range...but what is clear --they are doing ABSOLUTELY NOTHING to help existing shareholders or themselves by the silence is golden BS as well. This isn't a private company. They have to address the market in a meaningful way. PDFFingQ.
What is current in media. Isn't. Working. At. All.
My guesses (add to the BS tag lines here): They miss on the adjusted BS what-the-flavor-of-the-month (adjusted EBITDA) is. Per GAAP. that meaningful metric for anyone not in cannabis, they lose another $0.08-$0.10 and they announce forward guidance for the remainder of the year that is far better than this Q2 for both Q3 and Q4 as prices have stabilized and the guns to overtake the smaller non vertical competition begins to cycle with the acquisitions as sales are realized and the wholesale apparatus as programmed before year end with the harvest logs contracted deliveries.
All is not lost - not yet. Tough times for the sector, but didn't hey design themselves for this very moment? What we've been told and have agreed should be the model for winning in their markets. Now if they'd make it known, get on the road, and start working on a GAAP positive outcome. And GAAP alone despite the government's never-ending unhelpfulness. Those things are what good looks like.
Yea, it's liquidation selling. How much and by whom again, we don't know.
Heck, it may .67 before August at this rate...
yep now get ready for the shiny newer 52 week low arriving in september .67 ..........when it hits that enter the buy order @ .68
Well, good news, we're seeing bigger volume again, the bad news, too bad it's pushing things lower.
The whole industry including investors are at the stage of do we stay or cut the losses and get out. Harder and harder to justify tying up money in the pot market. So we'll see more dumping in the coming months. Management isn't making a case to shareholders, the feds aren't making a case for the industry, so not much out there to get excited about.
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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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