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I just posted the news, Starbuds will be a done deal and earnings are excellent!
Schwazze, Formerly Operating as Medicine Man Technologies, Inc., Announces Star Buds Acquisition Progress and Strong Preliminary Unaudited Financial Results for the Third Quarter 2020
BUSINESS WIRE 7:30 AM ET 11/5/2020
Company Announces Star Buds Proof of Funds Acknowledgement and Anticipated Closing Timeline for all 14 Colorado Locations
Third Quarter Revenues Expected to Increase; Net Loss Expected to Continue to Narrow Significantly
Company to Host Third Quarter 2020 Conference Call and Webcast on November 16, 2020
DENVER--(BUSINESS WIRE)-- Schwazze, formerly operating as Medicine Man Technologies Inc. ("Schwazze " or “the Company"), today provided an acquisition update for Star Buds and the Company released strong preliminary unaudited financial results for its third quarter ended September 30, 2020.
As previously disclosed, Schwazze has entered into definitive agreements to purchase 14 Star Buds Colorado locations. Star Buds is one of the most recognized and successful retail cannabis operators in North America based on revenue-per-location and profit. The acquisitions include 13 retail operations located throughout the Colorado front-range and one cultivation facility in Denver. Based on the consolidated, unaudited 2019 results the Company received from Star Buds, these acquisitions collectively earned approximately $50M in revenue with a strong EBITDA margin. It is expected that the proforma revenue for the combined companies for 2020 will be approximately $90M. It is expected the combined companies will be cash flow positive after the completion of the acquisition.
In preparation for the anticipated closing of these acquisitions, Star Buds has approved the Company’s proof of funds in advance of closing. This acknowledgment enables both companies to begin preparing for a fourth quarter closing of the acquisitions.
“Star Buds could not be more thrilled to have received satisfactory proof of funds from Schwazze,” Brian Ruden, Owner of Star Buds shared. “We look forward to not only closing our pending transactions but working together to build a great cannabis company.”
“This is an exciting time for both Star Buds and Schwazze,” Justin Dye, Chairman and Chief Executive Officer of Schwazze said. “By bringing Star Buds to the Schwazze family, we are creating the next era of cannabis with a true focus on cannabis consumers. With Star Buds’ industry expertise and Schwazze’s best-in-class playbook, we will establish one of the best vertically integrated platforms in the industry. The Star Buds acquisitions position us to become a cannabis leader in Colorado.”
Finally, in preparation of Schwazze’s third quarter 2020 earnings, the Company has released preliminary unaudited financial results. The Company anticipates revenue to be approximately $7.4M during the three months ended September 30, 2020, representing an increase of approximately 140% as compared to $5.4M quarter over quarter. The increase can largely be attributed to the revenues associated with modest growth in the Success Nutrients business coupled with the Mesa Organics acquisition in April 2020, with Mesa Organics and Purblebee’s seeing an increase in more than 50% of average day sales prior quarter to current quarter.
“We are very pleased with our preliminary results for the third quarter,” added Dye. “Our ability to substantially grow our top-line and meaningfully narrow our net loss reflects both the efficacy of our business model and ability to successfully integrate strategically attractive and accretive acquisitions such as Mesa Organics and Purplebee’s into our operations. We are also encouraged by contributions made by Big Tomato and Success Nutrients to our quarterly performance.”
Conference Call and Webcast Scheduled for Third Quarter 2020
Schwazze will host a conference call and webcast on Monday, November 16, 2020 at 4:30 p.m. ET.
Investors interested in participating in the conference call can dial 201-389-0879 or listen to the webcast from the Company's “Investors” website at https://ir.schwazze.com. The webcast will later be archived as well.
Following their prepared remarks, Chief Executive Officer Justin Dye and Chief Financial Officer Nancy Huber will also answer investor questions. Investors may submit questions in advance or during the conference call itself through the weblink: http://public.viavid.com/index.php?id=141477. This weblink has also been posted to the Company’s “Investors” website.
About Schwazze
Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding companies by revenue. Upon the completion of its announced acquisitions, its portfolio will consist of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. 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 "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," 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; and (v) difficulties in securing regulatory approval to market our products and product candidates. 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/20201105005624/en/
Source: Schwazze
Copyright Business Wire 202
No interest or volume currently to jump back in at this time.
I have been expecting an uptrend in users especially with COVID, but there still isn't anything that has changed my view to jump back in yet. Still have my eyes on it.
Don’t blame anyone on this board about your investment possibly losing value. The only expert pumper & dumper is AW. He sold everyone here a line of crap because he knew he couldn’t get the deals done as constructed so he hoped that bringing JD onboard would save his butt and provide some miracle. JD has provided that miracle by not finalizing the deals that expired because it would have crushed and diluted the price and shares.
Every investor has to do their own DD and come to their own conclusion. If you use a message board as your only reason to invest, then you will get fleeced. I had a losing trade earlier this year because I found a runner and used the chat board to investigate if it was a good bet and jumped in. I never took the time to do my own DD and took a beating on my investment. I won’t do that again for sure and it was the first time I lost money by relying on a message board as my research thesis to invest.
I believe JD will come through and this will be a winner. If he doesn’t then he will lose a lot of credibility because he firmly stated that the Starbuds deal will be completed.
Just a quick question, since this was one of AW’s many deals to begin with, where was AW going to get the money from to complete this deal or any other deal?
So if AW was still in charge the stock price would be more like $.10 then $1.15 currently.
Just a observation. JD has done a great job considering what he had to start with.
I think we can get a earnings surprise in the next earnings report. The company has been very quietly updating their website and the chocolates line has been busy posting and promoting on Twitter.
Future, I think you are misinterpreting what I was trying to convey.
I thought AW put a lot of work in and he was a good PR guy for the industry. He got a lot of people interested in MDCL and help pushed legislation. I never thought he was a excellent business executive and I had many doubts he would have been able to pull off all those deals but if he got some done then that would have been a plus. I am glad he is not on the board of the company anymore and am thrilled we have JD. I just stated that I thought AW made a huge mistake by leaving and the way he did.
It was AW's connections and relationships that led to talks of these previous announced deals but it was JD's expertise that made some of them work. JD knows his numbers and am thankful he is at the helm.
What I really want is for the company to officially change it's name to Schwazze so we lose the stigma of Medicine Man Technologies. The company is just doing business (DBA) as Schwazze and I want to see the company get rid of everything to do with AW in the past that did not work. That would mean that Schwazze would be JD's baby going forward.
I believe AW's reputation is badly hurt by his actions. How do you walk away from your dream that you worked so hard for? He did all the hard work to get bills passed through the Colorado's house and was seen as a visionary by his peers and the industry. He basically had a platform to speak out for the sector and now there is silence from him.
He should have stayed on board in a smaller role and renegotiated the terms for Medicine Man Denver and Medpharm and taken a smaller amount to make it work because the stock price of SHWZ really would have benefited from completing the deals of those two companies. His fortune in SHWZ stock would have been tremendous and to be able to continue to accumulate warrants and options in the company would have been an incredible payoff. His charisma and personality got me onboard with owning the stock and I thought he was on to beginning great things and was so thrown for a loop when he did what he did and left the company like that.
On a personal observation, I would be really reluctant to make a deal with someone who did that so my respect for him has taken a hit. But I am glad AW brought someone like JD on board because I believe he will get the job done and we are now in good hands.
Disappointing price action since the announcement of stock listing but wonder if Suen appearing on another Wall Street Reporter conference call next week will make another major announcement.
Well we know valuations were a bit over inflated in cannabis stocks awhile back and expectations have been adjusted in the sector.
But the fact remains is that there are very few profitable cannabis companies out there and if SHWZ can become profitable with these deals getting completed they should be able to move to the forefront and be a leader and trendsetter in the industry. I am hoping SHWZ will get these deals done quickly if they are profitable like JD has stated.
Also on a side note, JD's reputation could get a major boost if he can make the transition to being one of the leaders and profitable in a new industry field after what he accomplished previously at Albertson's. If he can get this done, it would be an incredible accomplishment since he didn't have any experience in the industry. AW's experience and connections were the original concept and reason this company got to this point in the first place but he didn't have the financial background to pull it off.
From what I have researched online, rumors are AW is trying to get another deal done with someone else but I wonder if he has hurt his chances by walking away from SHWZ which was his dream from the onset. But if JD can pull this off, AW will regret his decision in my opinion.
The article was published on Oct 4th and the share price of SHWZ was $1.15. The Canyon deal was still on the table so the writer believed that the Canyon deal wouldn't go through but calculated the Starbuds and Rootsrx deals would bring a pro forma price of $2.74 for Starbuds and $3.30 with adding Rootsrx. In my view, JD must believe these numbers make it worth to pull the trigger on these deals despite an added cost and dilution. As JD has stated, he will only do deals that will add value and profitability to the bottom line. By pulling the trigger and getting these deals completed will turn the tide and bring value to the share price and also show that JD's experience can bring added value to the company.
The believers on this message board (like myself) believe the Starbuds deal will be completed as stated by JD but imagine if we can an additional $.56 a share if the Rootsrx deal is also completed. That would be huge and then JD can begin to look at other possible deals in the future. I believe we won't hear about any new deals until all of the previous AW's deals are either completed or terminated.
I believe this article says a lot, I thought Canyon was going to be the deal that could be completed but they stated it was Rootsrx along with Starbuds. I believe both of these deals will be completed but we have until the end of November to get Starbuds finalized.
Everyday that passes the weak holders will get more nervous and continue to put pressure on it. It will take a strong stomach to wait it out but the windfall will be worth it. Otherwise, SHWZ is worth the current stock price at this level due to the completed deals and projected revenue currently.
Exciting and nervous times ahead with everyday that passes. Holding tight and a big believer in JD's experience to get it done.
Market maker VERT always seems to be a catalyst on which way we are heading.
I have been watching closely lately but the lack of volume and interest is alarming due to the comparison of previous volume and interest which caused the run up. Still on my radar for another possible run but just going to sit on the sidelines for the moment unless we see a restless seller getting edgy and putting some pressure on it and then maybe I will jump in to buy some cheap shares.
Great commentary and thoughts. Another reason why I think JD is the right person for the job. He has the experience to see the deals for their true value.
Excellent points but you are forgetting one thing, AW brought on JD because he knew he couldn’t make the numbers work without diluting the company to pennies a share and AW didn’t have the expertise or knowledge of financing to make it work. AW was a charismatic person who brought much enthusiasm and interest into investing into the company for me so I would have liked him to have stayed on board with the company.
JD has the experience to make this work and his knowledge of the numbers so I believe the Starbuds deal will be completed.
I understand the extreme disappointment of the share price and the delay in the timeline of either completing or canceling the deals but it takes time to do the due diligence.
We live in a society that wants instant gratification, I know I do but understand that is unrealistic. Many of these tech high flying stocks were in limbo mode for years until COVID came along and then the demand got them skyrocketing. We are in the same mode with the slow movement of further cannabis legislation. When the government passes some new legislation then we will see the sector blastoff.
I am frustrated too but I am a big believer in this company and believe we are not far away from seeing some really great news and stock price appreciation. GLTA!
An Emerging Markets News Commentary
ORLANDO, Fla., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Rarely is an investor an expert in the field in which they’ve invested. Sure, every now and then a deal in an area where you might have expertise comes along and you can apply your own analysis but those are few and far between.
And at the small and microcap level where unpaid research is also exceedingly unusual you also have little to rely on to truly consider the prospects for an emergent public company.
But we do believe there is a partial substitute… the Company’s Board of Directors.
A quality Board of Directors does a myriad of things. It provides oversight, accountability, confidence, relationships, and for us, some real validation of the business itself.
Weyland Tech , now Logiq(LGIQ), Inc. (OTCQX:LGIQ), has just made an appointment to its Board of Directors that should inspire some measure of confidence among the shareholder base. The rapidly growing global provider of award-winning eCommerce and Fintech solutions, has appointed Josh Jacobs to its board of directors. As a new independent director, his appointment increases the board to seven members, with four serving independently.
Jacobs is a heavyweight addition.
Jacobs is a highly accomplished technology executive with 30 years of innovation in digital media and advertising, sales and marketing, and strategic business and consumer product development. A noted pioneer in the programmatic media-buying industry, he has held senior level executive roles at several top technology companies on a global scale.
His resume is full of major players including Maven, a leading media platform for digital publishers whereas president and executive chair, he led the company through the acquisition and integration of four media companies that included Sports Illustrated, Hub Pages, Say Media, and TheStreet featuring Jim Cramer. Within three years, Maven grew from a startup to a market leading platform serving over 110 million readers monthly and generating more than $100 million in revenue. He presently serves on the company’s board of directors.
And that’s just one stop on a star-crossed curriculum vitae. Take a look at the rest.
It’s this experience that should be affirming to followers of Logiq(LGIQ). Jacobs simultaneously brings a wealth of experience and relationships to Logiq(LGIQ) while validating the Company’s business plan. It seems safe to assume that an executive of Jacobs’ standing possesses the inherent expertise to assess the Logiq(LGIQ) opportunity and then decide to lend his name et al to the cause.
Jacobs joins an independent Board list that includes some talent rarely found at small companies.
Matthew Burlage, former head of Lehman Asia, responsible for taking the first China internet companies to IPO in the US such as Sina.com, Sohu.com, Netease and Focus Media. All multi-billion dollar market cap companies. Burlage also acted as special advisor to $660 billion dollar market cap Tencent Holdings (TCEHY) on M&A ex-China.
Brett Lay, President of RTI Cable www.rticable.com an undersea cable network from Japan to Guam to Australia , funded by Google, NTT, NEC and a number of other Fortune Global 500 companies. Prior to RTI Cable, Lay was CFO at Pacnet, acquired by Telstra for $700 million.
Ross O’Brien, former head of The Economist Corporate Network and telecom advisor to major Asian telco’s for 25 years.
If the independent Board directors felt strongly enough to join Logiq(LGIQ) and certainly did their due diligence, then it makes an individual investors’ due diligence that much easier to do.
For a company that just recently announced that it’s expecting record revenues in excess of $38 million, Jacobs’ timing couldn’t be better.
For more information, visit weyland-tech.com.
For more informative reports such as this, please sign up at http://www.emergingmarketsllc.com/newsletter.php
About Logiq (LGIQ)
Logiq (LGIQ), Inc. is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.
The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services. For more information about Logiq(LGIQ), go to Logiq.com.
About The Emerging Markets Report:
The Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing years of experience. Our network consists of stock brokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets.
Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below.
We may purchase Securities of the Profiled Company prior to their securities becoming publicly traded, which we may later sell publicly before, during or after our dissemination of the Information, and make profits therefrom. EMC does not verify or endorse any medical claims for any of its client companies.
EMC has been paid 250,000 dollars from Logiq(LGIQ), Inc. or various marketing services including this report. EMC does not independently verify any of the content linked-to from this editorial.
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Thanks, appreciate your response and explanation. Short interest only shows 6,000 shares as of 9/30/2020.
I am new to this stock, but where are you getting your information that they are naked shorts from? It could be real sellers.
I like what I am seeing but you consistently are saying naked shorts, but there is no way to know if they are naked unless you are a broker taking the order.
Just wanted your take on the subject, not bashing you, just would like an explanation of your thesis.
I believe if Trump wins, you will see him legalize marijuana also sometime early in his second term. So it is my belief we will see it legal in the near future no matter who wins.
Didn't you mean to say someone is buying the hell out of it at $1.14? Lucky buyer!
Totally agree Future. Like I stated a few days ago that I thought one of the two remaining deals could get done but not both. Canyon was the one I think has the best chance to be completed if any get completed at all. We should hear about the Starbuds finalized deal once they decide on these two remaining deals first.
All I know is that JD is a seasoned veteran of the corporate world and has grown Albertsons into a giant business and has completed many deals so I have faith in him. The only drawback is that AW was a seasoned veteran and a leader in the cannabis industry and has spent his career in that sector while JD is in the learning phase of that industry. So I believe the learning curve is leading to a slower progress of evaluating the deals.
If these deals and term sheets were any good, I believe JD would have closed on them. If cash was a problem but the deals were something that couldn't be passed up, I believe JD has the connections to get the cash from somewhere or maybe Dye Capital would have put up more cash themselves.
There is no way to be able to evaluate 12 deals at the same time and come to a quick conclusion which are favorable and which are unfavorable.
Now that the company is down to the final two possible acquisitions from the AW era, it is my guess that we will see these deals either get completed or terminated by the end of October so JD can move the company forward without the AW hangover. I think we could see one of these two deals get completed if the numbers work out but wouldn't be surprised to see both get terminated because I think AW was just adding deals to entice buyers into the stock and don't believe the terms are that favorable to SHWZ because of the rush to get term sheets signed when they were announced.
I do really believe we will see the Starbuds deal finalized now in a short amount of time because the Medpharm deal was a big purchase and JD needed to make sure the company had the finances to get that done also if possible.
Either way, the future is getting more predictable where SHWZ is headed and evaluations are easier to project now there is less uncertainty due to less deals weighing on the stock price.
Schwazze, Formerly Operating as Medicine Man Technologies, Inc., Provides Update on Acquisition Strategy
Press Release | 09/30/2020
Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ) ("Schwazze " or “the Company"), a leading vertically-integrated Colorado cannabis company, today provided an update on its acquisition strategy.
The Company announced the termination of previously named term sheet with MedPharm Holdings, a cannabis research and development operator, which expired today, September 30, 2020. As noted earlier this year, the Company had moved forward on numerous term sheets with Colorado cannabis operators but had completed limited due diligence at that time. After the rigorous review and vetting process of MedPharm, the Company was unable to reach a mutually beneficial agreement to acquire MedPharm.
Justin Dye, Chairman and Chief Executive Officer of Schwazze shared, “The decision to terminate the binding term sheet with MedPharm is the right step forward for Schwazze. We are committed to creating shareholder value and generating compelling investment returns and believe that by staying true to our core business strategy of building a vertically integrated platform, we will do just that. Our focus remains unchanged, as our intention is to bring together profitable cannabis operators while growing organically to create a robust, differentiated and most admired cannabis company.”
Schwazze reiterated its commitment to establishing a leading vertically integrated cannabis platform. To accomplish this, the Company has acquired Mesa Organics, a dispensary chain with four locations in Southern Colorado, Purplebee’s a leading extraction and manufacturing business and remains on track to acquire the 14 Colorado locations of Star Buds which includes 13 retail locations and a cultivation facility. The Company will continue to make decisions that uniquely position Schwazze to provide the most trusted products and experiences for consumers and the best value for shareholders. The Company remains in negotiations with the announced acquisitions Roots Rx and Canyon Cultivation.
For more information about Schwazze, please visit https://www.Schwazze.com/.
About Schwazze
Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze (OTCQX: SHWZ) is executing its vision to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. 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 "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," 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; and (v) difficulties in securing regulatory approval to market our products and product candidates. 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/20200930005967/en/
I am disappointed in seeing the Medpharm deal be cancelled but I think now we will see Starbuds deal close very soon. It is my belief JD wanted to see if he could close the Medpharm deal first before putting the cash out for Starbuds since the deal with Starbuds was a much more friendly deal.
It is my personal opinion that JD now has other possible deals in the works and we can see some of them get done in the near future. I would like to see another possible deal with some kind of pharmaceutical basis now that the Medpharm deal is gone. I think the medical aspect of cannabis is where the big future profits are ahead in the cannabis industry.
At least the uncertainty is now over with any of AW's companies that he is invested in with SHWZ. I think SHWZ still has 3 deals left from the AW era but I don't think they are anywhere that dire for the company to now move forward and make progress. So when the Starbuds deal gets completed, SHWZ will be profitable (one of the few in the stock market in cannabis) and will be looked at as a bellwether of the cannabis industry.
GLTA and am excited to see some positive news ahead.
Sometimes this stock is baffling with the way it trades. Practically nothing for a few weeks and then they grab everything.
I am still very optimistic that this company has good times ahead. I like the management team and the potential of the cannabis chocolate business.
For now, just waiting it out and hope to see some good news in the near future.
Great article, thanks for sharing. Another great reason we have the right person (JD) leading this company. After learning how bad the potential deals were when AW was still running the show, I fear bankruptcy could have been ahead of us if those deals were completed.
Now I am more confident than ever we will see the promise land sometime in the future with a great payoff.
Smart purchase, dumb seller
Interesting news this morning, another private equity investor involved in Schwazze, could we see announcement of more funding to follow?
Schwazze, Formerly Operating as Medicine Man Technologies, Inc., Announces Chief Operating Officer and Board of Director Appointments
BUSINESS WIRE 7:00 AM ET 9/9/2020
DENVER--(BUSINESS WIRE)-- Schwazze, formerly operating as Medicine Man Technologies Inc. ("Schwazze " or “the Company"), today announced executive and Board appointments that will accelerate growth and continue to build operational capabilities for the Company. Nirup Krishnamurthy, Chief Integration and Information Officer, will become Chief Operating Officer and Jeff Garwood, former GE executive, has been appointed to the Schwazze Board of Directors.
Chief Operating Officer Appointment
Effective immediately, Nirup Krishnamurthy will assume oversight of Schwazze’s field business units including retail, manufacturing, cultivation, wholesale sales and marketing to drive operational excellence throughout the field operations. Krishnamurthy will continue to be responsible for the alignment and prioritization of the ongoing integration of the Company’s acquisitions and driving technology innovation across the organization. As a senior member of the executive team, Krishnamurthy will continue to report directly to Justin Dye, Chairman and CEO.
"Nirup is a seasoned and trusted leader that will continue to deliver results and bring a new sophistication to building a data-driven, technology-enabled operating culture,” said Dye. “He is uniquely qualified to drive strategic prioritization and accountability within Schwazze, with a commitment to instilling excellence throughout field operations. I have immense confidence in Nirup’s ability to execute and lead our best-in-class integration and innovation playbook.”
"Schwazze’s vision and strategy have never been more compelling," said Krishnamurthy. "With the backdrop of a global pandemic, the Company has continued to execute on building a leading seed to sale operating platform with profitable acquisition targets. Additionally, our business units have kept a laser focus on our mission of delivering the most trusted products and experiences to cannabis consumers. There is no doubt in my mind about the opportunities we have ahead of us. I am humbled to take on this expanded role and look forward to continuing to work with Justin and teams across the organization to drive our growth.”
Krishnamurthy joined Schwazze earlier this year, bringing more than 25 years of experience in innovation, technology, integration, restructuring and M&A at Fortune 500 companies. As Chief Information Officer for United Airlines, he helped oversee one of the largest turnaround restructurings in corporate American history, spearheading initiatives to drive major cost reductions and revenue enhancement. Krishnamurthy also held C-level roles with Northern Trust Bank and former grocery retailer The Great Atlantic & Pacific Tea Company (A&P). He earned a bachelor’s in Mechanical Engineering and a doctorate in Industrial Engineering from State University of New York, Buffalo.
Board of Director Appointment
Effective September 9, 2020, Jeff Garwood has been appointed to the Schwazze Board of Directors. Garwood is a recognized visionary business leader bringing 30 years of extensive experience across finance and operations and will serve on the Audit and Compensation Committees.
“I am honored to join the Schwazze Board of Directors and I look forward to helping guide the important work the Company is doing,” said Garwood. “I am excited to bring my organizational awareness, research mindset and business expertise to this emerging industry. The cannabis industry is ripe for strategic consolidation and growth and the platform Schwazze is building positions the Company to be an industry leader.”
“We are pleased to welcome Jeff to the Schwazze Board,” said Dye. “As a proven leader in various high-growth industries, his passion, strategic know-how and creative problem solving will be critical to the success of the seed to sale platform we are building. I believe he will provide vital insight and guidance that will be invaluable to the Company and our shareholders.”
Garwood is the founder and is currently the managing member of Liberation Capital, LLC, a private equity fund that is focused on providing modular, repeatable waste to value project finance where he has been active with its investments for 10 years. He is also the co-owner of Zysense, an entity providing high precision measurement instruments for research. Prior to Liberation Capital, Garwood, held a variety of senior leadership positions with General Electric including President and CEO of GE Water and Process Technologies, President and CEO of GE Fanuc, and President of Garrett Aviation and worked for numerous years at the strategic consulting firm, McKinsey and Company. Garwood received a BS of Chemical Engineering from North Carolina State University and an MBA from the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill.
Garwood will serve along with the other three directors, Justin Dye, Chairman and CEO, Brian Ruden, Star Buds CEO and Leo Riera.
About Schwazze
Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its vision to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. 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 "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," 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; and (v) difficulties in securing regulatory approval to market our products and product candidates. 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/20200909005569/en/
Source: Schwazze
Copyright Business Wire 2020
The market needed this selloff, it was way too high without any basing. Now it can regroup and slowly and I mean slowly edge higher unless we get a vaccine for COVID, then we take off like a rocket ship.
When the Starbuds deal gets completed, the stock should be at $3.00, not $2.08. Hoping your dream does become reality though.
There will be no rally monkey without news but that is the value monkey realizing a great deal when he sees it.
Bamm, just like that we have the big seller taken out and now have a big buyer. Hopefully good times ahead.
My thoughts are that they will secure the financing shortly for the Starbuds deal but also might secure additional funding with the Starbuds funding to already have a surprise acquisition announcement for us.
Just a guess and wishing for some additional positive news to go along with the Starbuds deal. Fingers crossed.
There is also another reason why the price is dropping, it is called "panic". Also, when the price gets near it's 52 week low, technical trading takes over to lock out potential additional losses. If the stock reverses then the technical computer trading will come back in and buy back the stock. I don't believe this stock has much computer generated trading except for a small percentage so it is just the disappointment of investors that is keeping the selling pressure on at this moment.
I believe some shareholders were expecting a press release first thing this morning concerning the acquisitions since the banking act was supposed to take effect today. In my opinion, I think there is more than the deals in the works than previously stated now. So now that SHWZ can have access to bank loans, they can move ahead with making those deals work.
I believe we will see an announcement stating that the financing for the Starbuds deal has been completed sometime this week which should stabilize the stock price and then see some more deals getting done within the next few weeks.
I am frustrated just as much as some of you are. I have been invested here almost since it began trading so it has been a long and disappointing run but I still believe we have the foundation here of something great.
I think I touched a nerve. It looks like he deleted his post.
I use these chat boards to gather information and research possible holdings I am interested in. I am not nor will I ever be a basher. I believe you take stock holdings on informational facts and balance sheets.
He has been posting here for quite some time and I believe he was quite positive for a long time concerning SHWZ. But if I had holdings of $400K for a total of 700K shares, I sure wouldn't be bashing the company and basically souring any potential investor to watch my investment go to $zero. That was what made me make a comment about his situation.
I can also understand he might be very frustrated about the lack of upward movement in the stock price. I am not happy about it either but I believe we have the right man JD at the helm and he will get it done. I think AW really got out of his expertise area of cannabis and jumped head first into the land of the corporate world in which he had no knowledge or experience to make these deals get completed and that was why he bailed once he realized it.
We still owe much gratitude to AW because without his leadership the cannabis industry wouldn't be in the position it is in nationwide and especially in Colorado. He led a movement with the backing of others in the CO government and other industry leaders.
So I will sit here patiently because I believe we are on the crest of something great. I thank AW for getting it started and support JD to bring us to the finish line.
Goldru$$h
Just one factual observation from your statement, if Beyer has invested $400K for 700K shares that would make his average price per share to be 57 cents. Since the all time low price of the stock is 92 cents there is no way that statement to be true unless he is an insider and had options to buy the stock that low. I don’t know what the option prices were for the early insiders so I can’t verify that but just that the numbers you stated either prove his investment is false or he is an insider.
Just my opinion
Drugdoctor,
LOL, Sorry just had to bust chops but obviously you didn't use spell check either.
Hoop
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