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While I still believe he is with Schwazze, looking at his Instagram bio doesn’t prove anything. I don’t believe anyone when leaving a job worries about going on their Instagram, LinkedIn, Facebook, Twitter, etc. right away and changes their status.
He could have a separation clause with Schwazze about a quiet period until the company comes out with an official announcement of that were the case.
I believe that the company has something much bigger in the works that Haupt is part of and they removed him temporarily from the website to set up the new role he will have in the future. Just my opinion in this matter.
Thanks for the update.
I would be shocked if Haupt walked away from the company after all the hard work he put into SHWZ. That would mean he gave up the Schwazze name along with what SHWZ is on the cusp of the great things in which he helped create.
By that response from the Marketing VP, my guess is that the new possible acquisition is a key for what the company has in store next for Haupt. Within the next 30-60 days would put it in the window of the 1st quarter earnings so we could have some blowout news from earnings and what Haupt could be doing for the company (If he is staying).
This GME (Gamestop) scenario basically has the market dead except for some of the real big cap names. I wouldn't touch that stock with a 100 foot pole but just have it on my screen to keep aware of what is happening. My screen isn't even flashing except for GME. It is taking all the interest away from the rest of the market.
We have a homerun in SHWZ and can't even get a glimpse of interest. Just amazing how such incredible value is getting overlooked in the market with SHWZ not finding any takers today. Our time will come soon enough but it is frustrating to say the least.
If someone grabs that $2.60 stock then we might finally start moving up especially since we are appearing to finally be breaking through that $2.55 wall we have been struggling to break.
Would really like to see some additional volume this afternoon.
Good luck to all.
Thanks for the price support and I hope you get some of those shares. The stock is trading like we finally have no more day traders in it anymore which makes me happy.
You obviously can get about 6,000 shares at $2.60 if you want to grab some higher. With the lack of action, it is hard to tell if there is any sellers up from there with any volume to sell. The cannabis started the day up nicely but is now back in the red.
As I was just ready to send this message, I see you were able to buy some at your price, good for you.
Hey, we got a buyer around....yahoooooooo! Let's hope we can get some movement.
Looks like $2.55 is the current wall we can't break. We hit it the past 2 trading days with resistance. The chart doesn't show this as a wall, just more of a psychological one. Volume is dead just because everyone is fixated on GME (Gamestop) again.
Could possibly be slow trading here until a day or two before earnings unless the cannabis sector takes a good pop sooner which could get us started earlier before earnings.
Looking forward to some what I believe will be really shattering news in my opinion. Good luck to all.
The company has done an excellent job when they remodeled it and have been keeping it updated. I just think there are a lot of other pieces in the puzzle with a possible acquisition upcoming now and adding all the Starbuds locations.
The company has been keeping the SEC filings up to date daily so to be incompliance with the SEC. Up until this past week when we noticed that Joshua Haupt had been removed, the company was updating the website promptly with any changes in the company which leads me to believe that they have some big things in the works and need to do a website do over and are working on it but can't publish it until they make an official announcement(s).
I check the website regularly and until this past week, it has always had any company updates or press releases on it promptly.
Railrider, there is nothing slow about doing the website. The company is basically having news daily recently so it they would have to put a person on full time to keep up and update the website daily.
I believe we will see a brand new updated website with the Starbuds brand and maybe even their potential new acquisition along with a hopeful Joshua Haupt update in a new position by the end of the month when earnings come out.
Just a gut feeling about this.
A update website is coming I believe. If they have a new position for Haupt, that could be why they removed him and waiting to add him in a new position along with the other Starbuds locations.
Thanks for the private message chuckle, I totally agree with your assessment.
Here is a press release from last week. The 3rd paragraph below states that CRW Capital Cann Holding LLC is an affiliate of Dye Capital.
Schwazze, previously known as Medicine Man Technologies Inc. (OTCQX:SHWZ) has raised $34 million in financing.]
The Colorado company completed the latest tranche of preferred equity, bringing its total raise to $56 million.
CRW Capital Cann Holding LLC, an affiliate of Dye Capital, led the latest investment round alongside other investors.
Schwazze managed to collect $71 million in financing since December, including the latest round.
Under the private placement, the company issued and sold a total of around 56,000 Series A Cumulative Convertible Preferred shares with a price of $1,000 per share.
The securities were presented by DelMorgan Group LLC and the Benchmark Company LLC.
Schwazze also completed a debt financing of $15 million, out of which $5 million will be funded as part of an undisclosed purchase.
Altmore Capital’s partner presented the company with up to $15 million in debt, set to mature in four years.
The loan carries a 15% annual interest, and Schwazze is supposed to pay the principle in its third year.
“This funding enables our team to close on the remaining Star Buds stores in Colorado and provide additional capital for growth," Schwazze CEO Justin Dye said. "Our team members and investors are focused on taking care of our loyal customers and positioning Schwazze as one of the leading cannabis seed-to-sale companies in Colorado. We look forward to building a purpose-driven, innovative company in Colorado and beyond.
I give these market makers credit to try and shake people out to sell their stock. No one owns only or sells 140 shares of a $.21 stock (down $.09 on the final sale of the day). That is $29.40 of cash. If you can't hold on to it even if it goes bankrupt to take such a minuscule loss, then you don't belong in the market. But it is a way to get some to panic because all they see is red on their screen and worry. There are big buyers below around the $.18 level so I don't expect us to see it go there.
These past few press releases are a positive but it is frustrating to not see it doing anything at the moment. I believe that time will come especially with the next earnings report.
CRW Capital is part of Dye's holdings so basically Dye owns 1/3 of the company. Dye is someone who is putting his money where his mouth is and that is someone I want to follow. Dye is getting all this paperwork completed and filed with the SEC because I also believe something much bigger than we expect is in the works and he wants all expenses accounted for in this upcoming earnings report to get any strain on future earnings out of the way.
I also reached out to the company about Haupt and haven't received a reply. My thought is that an announcement will be coming with the earnings report on Haupt because he is too big of a figurehead in the success of SHWZ to not address it. Could be he left the company or could be part of a new entity of SHWZ but doesn't want to tip off any other companies to what they have in the works. Just speculation on my part.
I hope you are right about the conversion of the preferred shares because that will mean we will be getting our $50.00 a share takeover buyout! Otherwise there isn't going to be any conversion anytime soon.
Just my opinion.
Nice to see those big buyers late in the day. Should bode well for tomorrow since it looks like the selling pressure is done.
Wow, look at those bids, some big boys appear to be interested.
In my opinion what is going to put the final ignition switch to get this stock price rising is the upcoming earnings report. Analyst's will want to see the proof that the Starbuds deals make SHWZ profitable. Once that happens, the big boys will have the facts to back up their reasoning and opportunity to hold such a smaller cap stock like this. I would say that a $120 million revenue rate which is what Dye has hinted at, isn't chump change for sure but compared to what the cannabis giants are doing it is still minor to the other bigger cannabis companies. But for me the most important aspect of SHWZ is profits, profits, profits! That is what makes my investment decisions for me and the fundamentals to own this stock. Also, I just love the management team (especially Dye) and the fact that is putting an incredible amount of his own cash into this company which gives me all the confidence that we are going to see great numbers later this month and especially into the many upcoming earnings quarters.
Easy DamAcon, I was just joking around to pass some time. We have had such great conversation here lately and it is a nice way to get information but also pass the day. Watching the DOW moving nicely and have the rest of the market just lagging was a little disappointing. My portfolio (as probably yours) is doing quite well today so I have no complaints but nothing to get me excited. The cannabis sector isn't doing much today so I am not expecting any big moves. I would like to see more volume which means we still have many eyes on SHWZ. I will take $.20 to the upside everyday like we are currently and be happy.
Hey, when are the other stocks outside the DOW going to start trading?...LOL! What a boring day.
I was hoping for a little pop today but to no avail. The usual buy on the rumor (prior to today) and sell on the news (while no selling we had sellers around suddenly). Maybe next week we can get some movement. But the news was another good piece that this company is headed in the right direction.
If someone takes out the OTCX seller of 15,000 at $2.36, we could run. I believe that was the seller at $2.46 at the opening this morning. We would probably see resistance at $2.60 after that.
The one positive is the great volume in the stock today. Some weak hands are getting flushed out.
VERT keeps moving up on the bid which probably means the heavy selling is done
Just some personal thoughts...
We have an incredible bunch of posters and shareholders here that truly believe in SHWZ (me being one of them for sure). I know how much we want this to take off and start making some real money and it will happen for sure. But as the saying goes "patience is a virtue"
Some of us (not me because it isn't my style) go on other chat boards to bring awareness to SHWZ and get more investors so we can head on an upward path. Have you noticed in the past few weeks all we have done is go in a downward spiral and every bounce gets met with resistance. Why? Because it brings flippers into the picture and not investors. Flippers don't have patience because they need to ring the register everyday to make a living (I was one of them for awhile years ago). From a personal standpoint, I don't want flippers here because all they do is screw up a good thing. I would rather us continue on an upward path for even a few cents a day then have a breakout and then get turned around and get crushed. We had a nice slow ascent to the upside off the lows at the $1.10-$1.15 level after the ex-insiders were selling and got done.
The charts tell nothing now because it is so incredibly choppy. This stock just based on the news and what us believers know should be in the $4.00-$5.00 range and we should be breaking $5.00 easily when the earnings come out (if the numbers jive with what we have been to believe)
All the posting here on this board is great and brings awareness to us. If someone was really interested in this stock, they would come on this board and do their homework because the news headlines would be bringing attention to it, not chat board awareness. But the process of getting other cannabis stock shareholders in other stocks and jump on board here isn't working (in my opinion).
What is going to work is the next earnings report and I expect Dye to turn heads with it and another acquisition upcoming. Until then, we are going to keep in this sloppy pattern (and look like a pump and dump in my opinion). The big boys are not coming in here now because of the stock price and evidence of the earnings story until it is posted. Also the chart action wouldn't convince me to buy if I was a big fund until I saw concrete evidence that the story was evolving as stated.
We might see below $2.00 today and that would be heartbreaking and a travesty in my opinion because this stock is worth twice that right now. Even with this crappy market, this stock shouldn't be falling like this because it is so undervalued.
This is not a personal message towards anyone here because I have so much respect for all the posters and us old-timers. I just think it isn't working and a new approach should be welcomed and let the fundamentals work and also let surprise news get others interested.
A one final observation with this market while we are doing our homework based on evaluations, Gamestop is trading at $145.00 currently which shows how out of touch stock traders are currently for a company worth $10.00 a share right now. I just needed to vent a little because this is so frustrating. Looking forward to that payday for all of us.
The OTCX seller at $2.80 yesterday on the opening has come down to $2.46 this morning. Possible cheap shares for someone for an appetite right on the opening. OTCX had other sellers yesterday but this was the exact offer up at that level.
Check out the big news I just posted this morning! It is about time to see something really promising.
Big News!
Tauriga Sciences Inc. Selects First Foods Group, Inc. to Manufacture its New, Full Spectrum CBD Infused Product Line
GLOBENEWSWIRE 6:18 AM ET 3/5/2021
Symbol Last Price Change
TAUG 0.095up 0 (0%)
FIFG 0.32up 0 (0%)
QUOTES AS OF 12:00:00 AM ET 03/04/2021
This Full Spectrum CBD Infused Product Line contains 25mg per Serving (“Bite”) / 600mg per Jar (“Unit”)
NEW YORK, NY, March 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Tauriga Sciences, Inc.(TAUG) (“Tauriga” or the “Company”), a revenue generating, diversified life sciences company, with a proprietary line of CBD & CBG infused Supplement chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant), additional product offerings, as well as an ongoing Pharmaceutical Development initiative, today announced that it has selected First Foods Group, Inc.(FIFG) to manufacture its new, full spectrum CBD infused product line. Through this Manufacturing partnership, First Foods Group, Inc.(FIFG) (“First Foods”) and Tauriga Sciences, Inc.(TAUG) (“Tauriga”) have created a variety of three chocolate-based products – that leverage the capabilities of South East Edibles (First Foods’ flagship brand). The products are comprised of full spectrum CBD infused, chocolate-based candies, that are: Kosher Certified (Orthodox Union), Vegan, Dairy-Free, All Natural, Artisan Crafted.
Tauriga’s full spectrum CBD infused product line consists of the following three offerings:
White Chocolate with Melatonin + Lavender + Chamomile (Sugar Free) . . . 600mg Full Spectrum CBD per Unit
DIABETIC FRIENDLY
White Chocolate with Turmeric + Ginger + Lemon + Black Pepper (Sugar Free) . . . 600mg Full Spectrum CBD per Unit
DIABETIC FRIENDLY
White Chocolate with Coconut Milk (Sugar Based) . . . 600mg Full Spectrum CBD per Unit
Tauriga’s CEO Seth M. Shaw expressed, “For the past several months, our management team has been searching for a Manufacturing partner to create an innovative, high quality, full spectrum CBD product line. We are proud to have selected First Foods Group, Inc.(FIFG) with their impressive team and innovation-based approach. Additionally, First Foods(FIFG) is the manufacturer and controls the entire process – and most importantly – the quality assurance protocols. We are continuing to expand our product lines and offerings as we build our customer base and focus on long term growth – with respect to our retail business.”
ABOUT TAURIGA SCIENCES INC.(TAUG)
Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives. The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment. The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is Kosher certified, Halal certified, and Vegan Formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate), (CBG Infused Tauri-Gum™ Flavors: Peach-Lemon, Black Currant) & (Vitamin C + Zinc “Immune Booster” Flavor: Pear Bellini). The Company’s commercialization strategy consists of a broad array of retail customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at http://www.tauriga.com.
Complementary to the Company’s retail business, is its ongoing Pharmaceutical Development initiative. This relates to the development of a proposed Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed for the following indication: Patients Subjected to Ongoing Chemotherapy Treatment). On March 18, 2020, the Company announced that it had filed a provisional U.S. patent application covering its pharmaceutical grade version of Tauri-Gum™. The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”. On December 18, 2020 the Company disclosed that it had entered into a Master Services Agreement with CSTI to lead the Company's clinical development efforts.
The Company is headquartered in Wappingers Falls, New York. In addition, the Company operates a full time E-Commerce fulfillment center located in LaGrangeville, New York.
About First Foods Group, Inc.(FIFG)
First Foods Group, Inc. (FIFG) is a US holding company specializing in the sale of a variety of Cannabidiol (CBD) based products through its subsidiary, Southeast Edibles, based in the USA. Its state-of-the-art facility is based in Fort Lauderdale, FL. Products include infused premium specialty chocolate edibles all made in the USA. First Foods(FIFG) seeks synergistic value through creating its own new concepts, both through proprietary development, mergers, acquisitions and licensing arrangements in the CBD and health and wellness space. Management is committed to an integrated approach using the highest quality hemp solutions and highest purity standards in the industry. First Foods Group Inc(FIFG), also provides management services and funding options for emerging supplement brands and menu concepts.
To learn more about First Foods(FIFG), please visit our website: https://www.firstfoodsgroup.com
To learn more about our Southeast Edibles product line, please visit: https://www.southeastedibles.com
DISCLAIMER -- Forward-Looking Statements
This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other periodic filings made from time to time with the Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. You should not place undue reliance on these forward-looking statements.
Contact:
Tauriga Sciences, Inc. (TAUG)
4 Nancy Court, Suite 4
Wappingers Falls, NY 12590
Chief Executive Officer
Mr. Seth M. Shaw
Email: sshaw@tauriga.com
cell # (917) 796 9926
Company Instagram: @taurigum
Personal Instagram: @sethsms47
Twitter: @SethMShaw
Corp. Website: www.tauriga.com
E-Commerce Website: www.taurigum.com
Attachment
Tauriga 03-05-2021
Image: Primary Logo
Tauriga 03-05-2021
Image: https://ml.globenewswire.com/media/bf976aea-ad2e-413c-a46a-2525afff2b9b/medium/tauriga-03-05-2021.jpg
Full Spectrum CBD Infused Chocolate BitesSource: Tauriga Sciences(TAUG)
2021 GlobeNewswire, Inc.
Here are all the filings concerning the completion of the remaining Starbuds deals. A lot of reading to take everything in.
https://fintel.io/doc/sec-medicine-man-technologies-inc-ex991-2021-march-04-18690-22
https://fintel.io/doc/sec-medicine-man-technologies-inc-ex991-2021-march-04-18690-147
https://fintel.io/doc/sec-medicine-man-technologies-inc-8k-2021-march-04-18690-919
My comment about Robinhood traders was meant to mean so many novice traders who don't have a clue to what they are doing. They opened an account and jumped in Gamestop and made a winning trade and now they are experts. I can't believe that Gamestop is trading at $125, because it is worth about $10 a share tops!
I see so many people buying stock of a company based on what someone posts on a chat board and when it starts going against them they trash the person who made the post. Who trusts a stranger on a chat board with their own money, only a idiot. What I love about this chat board is the integrity and hard work of our posters to do their homework and make others aware of their own valuations and fundamentals. It is great to get others perspective but I still base my investments on my own thesis. I haven't been very vocal on a chat board until this one recently because I want to give as much information to have others make a good investment. I really believe many here will get a rate of return not easily available in such a cheaply priced stock.
The court basically stated that shareholders of Hertz have stock worth nothing and yet it is still trading at 64 cents today. Who is buying this garbage?
I wish I could leave $35,000 sitting in my account to wait for an idiot to sell SHWZ so I can grab 15,000 shares at $2.28. I was fortunate to have a chunk of change available to grab some other holdings today I have at a great discount unfortunately these opportunities always seem to come along at the same time so we have to pick and choose what is best for each of us.
Hopefully the market can sustain this rally back into the green. Maybe we will fortunate to close around the $2.70 level today which would be a great close considering the bleeding we had to the downside this morning.
Fundamentally everything is good. The company is progressing as promised.
We won't get the real big boys coming into this stock until probably the end of the month when the earnings come out. They will want to see the numbers and evidence of what has been projected about revenues and earnings from Dye before jumping in with both feet. Once that happens, I believe we will begin a steady rise in the share price.
For the technical aspect, charts are good (Drugdoctor doing an amazing job) but everything still rides on evaluations and fundamentals. One thing charts can't overcome is stupidity and damn there are a lot of idiots trading the market. Robinhood has really dumbed down the market. Example of that is people are still buying the stock of Hertz which is trading at 64 cents currently, the stock is worth zero and anyone owning it is going to lose everything. But you can't fix stupid!
I didn't have the funds to buy that chunk at $2.28 who sold 25,000 at the market early today. I already grabbed up other holdings on great discount but didn't think a seller would be as stupid as the one yesterday. Maybe it was the same dumb seller. Anyway for any of you that were lucky to grab that $2.28, congrats!
Also on the 10-K earnings, this report is obviously through the end of 2020, since then the company has upgraded their website and Southeast Edibles website in a big way and has done much more social promotion. I think that was done because business is really picking up especially on the Southeast Edibles side.
For now, the momentum is gone. If someone on the Needham conference call likes what they hear, there are some sizeable sellers up above and they can grab some volume which is what the big boys want to see. If that can happen, we might get that volume to push us up to that $3.25 resistance.
Our favor guy, OTCX has some size to sell but keeps jerking around his offer and that jerk VERT will keep trying to short it against the higher sellers.
It just blows my mind how many morons are invested in the stock market. The seller could have gotten $3.00 with some patience within the next hour. With every idiot comes opportunity. Good for you Doctor!
Well the 20,000 at $2.94 has gone to a sell market order, what a idiot, chance for cheap stock
Well he was an expert for stocks trading in $.01-$.02 range. I believe those are the professors that we need to listen to that put so much money on the line....LOL
That is why to not engage with newbies on the board unless they show some knowledge of the company and have done research. Analyzing charts is just one aspect of investing in a stock but the main reasoning is the evaluations and fundamentals. If you are just basing on charts, then you are a flipper and not an investor.
Anyone flipping this stock can make a few bucks with some patience but they are going to miss out on the big run which we won't get any sizeable pullback because the evaluation for this company is going to skyrocket.
10-K is out
https://www.sec.gov/Archives/edgar/data/1648903/000147793221001185/fifg_10k.htm
It is obvious the company is transitioning to promote the chocolate (hemp/CBD) foods division as a priority from the merchant tier lending group. Glad to see that they aren't currently abandoning the merchant tier sector because they have done well in it overall. In my opinion with the PPP loans, that sector of the business has slowed considerably currently so we shouldn't see much growth there for awhile.
Very interesting starting today to see when you log onto the First Foods Group website, they have a stock ticker with other cannabis (hemp/CBD) stock scrolling across it. I just noticed this on another small cannabis (hemp/CBD) company website yesterday. This might be the trend for all the smaller cap companies in the cannabis/hemp/CBD to hook their wagons to the big guys in the sector.
And just be aware in that press release that revenues from Purplebees are not included so that is where Dye could be getting that $120 million number from revenues.
Starbuds deals are completed!
Schwazze Completes Acquisition of Five Remaining Star Buds Dispensaries in Colorado
BUSINESS WIRE 8:10 AM ET 3/3/2021
Colorado Cannabis Leader’s Retail Footprint Now Expands to 17 Locations Across the Denver Metro and Southern Region of the State
Pro Forma Revenue for Schwazze and its Two Acquisitions (Mesa Organics and Star Buds) in 2020 is Estimated at $95 Million
DENVER--(BUSINESS WIRE)-- Schwazze, formerly operating as Medicine Man Technologies Inc. ("Schwazze" or “the Company"), today announced that it has closed on the asset purchase of the five Star Buds dispensaries located in Colorado that it had not already previously acquired. The acquired dispensaries are located in Aurora (2), Denver, Louisville, and Westminster.
Total consideration was approximately $72.3 million, consisting of $27.5 million in cash, $26.9 million in sellers’ notes, and $17.9 million in Preferred Stock (at a price of $1,000 per share).
Star Buds is a recognized and successful retail cannabis operator in the United States and home to a wide selection of strains, concentrates, edibles, tinctures, and best-in-class customer service. Inclusive of this transaction, Schwazze now owns and operates all 13 Star Buds locations in Colorado and its retail footprint now includes 17 dispensary locations in the Denver metro and southern Colorado region.
For 2020, the 13 Star Buds retail dispensaries generated total revenue of approximately $70 million and net income in the range of approximately 40% of revenue. Together with Schwazze and the proforma revenue for 2020 Mesa Organics Ltd, acquired by Schwazze in April 2020, total 2020 proforma revenue is estimated to be approximately $95 million on a combined basis.
The Company will be providing 2021 guidance during its 2020 year-end conference call near the end of March.
“We are excited to have completed our acquisition of Star Buds Colorado, a highly respected, innovative and trusted retail operation characterized by high quality products and its budtenders’ commitment to customers and cannabis expertise. Our intention now is to integrate these five locations, utilizing our proven integration playbook that streamlines the M&A process and drives operational and financial synergies. We are looking forward to growing the Star Buds brand through internal and external methods,” said Justin Dye, Chief Executive Officer of Schwazze.
Transaction Background
On June 8, 2020, Schwazze announced that it had reached definitive agreements to acquire all 13 Star Buds locations in Colorado, represented by 13 different ownership groups and agreements. On December 21, 2020, Schwazze announced the closing of the asset purchase of six Star Buds Colorado retail locations, and on February 4, 2021, Schwazze announced the closing of the asset purchase of an additional two Star Buds Colorado retail locations.
Schwazze is the leading vertically integrated cannabis holding company in Colorado with a portfolio consisting of top-tier licensed brands, spanning: cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line, all under one entity. In April 2020, Schwazze was the first publicly traded company to complete an acquisition following the new legislation of Colorado House Bill 19-1090 which allowed for public company ownership of cannabis operations. The Company’s inaugural acquisition included the purchase of Mesa Organics, a Southern Colorado dispensary chain with locations in Pueblo, Ordway, Rocky Ford, and Las Animas as well as Purplebee’s, a leading pure CO2 and ethanol extractor and manufacturer.
DelMorgan & Co. served as lead financial advisor in connection with Schwazze’s financing of the transaction, including sourcing the equity and debt capital and providing fairness opinions to Schwazze in connection with the financing.
About Schwazze
Schwazze is focused on building the premier vertically integrated cannabis company in Colorado. The company's leadership team has deep expertise in mainstream CPG, retail, and product development at Fortune 500 companies as well as in the cannabis sector. The organization has a high-performance culture and a focus on analytical decision making, supported by data. Customer-centric thinking inspires Schwazze’s strategy and provides the foundation for the Company’s operational playbooks.
Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc.
Forward-Looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "may," "will," "plans," "expects," "anticipates," "projects," "predicts," , or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control and cannot be predicted or quantified. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; and (v) actual shareholder returns. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210303005610/en/
Source: Schwazze
Copyright Business Wire 2021
I am showing the earnings date of 3/31/2021 also on Ameritrade.
Also, tomorrow (Wednesday) SHWZ will be in the Needham cannabis conference tomorrow.
On Thursday, we will get a detailed account of the financing from the company.
So maybe we will be getting a press release this week announcing the completed Starbuds deals (fingers crossed on that one). I don't expect to see another acquisition announcement (if there is one yet) until next month after earnings.
Concerning today, we didn't get as much traction as I was hoping for but I have seen some incidents in the past concerning news and it not getting noticed.
First is that I believe the news didn't make all the newswires. I don't know the process of how the company releases news and who they submit to, but the news wasn't on the Dow Jones Newswire or PR Newswire which are 2 of the biggest recognized newswires that I could find and rely on. It was on Business Wire, which is also one of the biggest. So I don't believe it was seen by everyone. The company does have to pay for each release on each newswire.
My take is that the company is growing at an incredible rate and to not miss out on the opportunities before them, they wanted to get this financing in place promptly. The additional $5 million sounds like he has another acquisition target that he wants to get done soon but first must get the Starbuds deals completed which this financing will do.
As expected, Dye is putting his equity all in and deserves a nice payout in the future. The interest in my opinion is a way for Dye to make some money back on his investment while not converting the preferred shares for either many years or on a buyout takeover of the company.
Since the safe banking act has not been approved and cannabis is still not legal, the only way to attract money is to pay a higher interest rate. If they did an stock equity offering, it would dilute the company much more than this because they would have to offer even more shares than this equates to.
Just my thoughts