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It’s not just the virus, Canopy and Tilray had crappy news the past 2 days so we are following the sector. The sell volume for MDCL is light so we are in good shape, no more panic selling
$2.00 + close?
If this volume continues, I wouldn’t be surprised to see a $2.00 + close today. We are getting rid of a lot of weak stomach sellers.
MDCL just posted 5 key job openings this afternoon
Accounts Payable Clerk
Contracts Recruiter
Senior Accountant
Legal Administrator
Financial Analyst
They are positioning themselves for blastoff
I stated a week ago that I expected press releases within two weeks. I believe today is the first day of a string of press releases coming within the next week. I am expecting positive news next week. Just got to make it to the end of the day without much more damage to get it going.
One last thought, I think MDCL would have liked to delay the news of Andy leaving with the weakness of the market due to the Coronavirus knowing some investors might get edgy about his departure, but it is my guess that they needed and wanted to get the negative news out of the way because Justin has many other press releases coming about the deals really soon. I am expecting a real rebound soon.
Another thing to consider is that Dye Capital bought their stock at $1.80 so I wouldn’t be surprised to see them come into the market and buy more shares on the open market at cheaper prices.
Don’t forget that Andy still has much at stake with all the shares he owns and the options. I think Andy is more of a research kind of guy and not the corporate type which is why he wanted Dye to take over to move the company financially forward. I will miss Andy’s enthusiasm and he made it an exciting ride. It is my guess to believe Andy will lead Project X as a separate entity from MedPharm because Project X will probably be more research lab will MedPharm will be more like a pharmaceutical company.
Just all guessing at this point, but without Andy and his pursuit of getting cannabis legal in CO, MDCL wouldn’t be in the place it is today.
I think we are much closer to announcements of the deals being finalized then we realize. With Justin Dye going out there on this roadshow of conferences, I believe Justin wants his presence to be the face of the company going forward. If there was going to be a delay in announcing the completed deals, Justin might have wanted to wait on the sideline until everything was completed. Justin’s experience, knowledge and financial backing of MDCL is the solid foundation we needed and that is why I believe he is stepping up to the plate and getting out there. It is just a hunch, but I think we start getting press releases within the next two weeks announcing completed deals. Just hope I am right. Always enjoy reading everyone’s feedback and know we have a great bunch of knowledgeable posters here on this chat board. GLTA!
They can’t be making statements unless they come out with a press release otherwise telling you something over the phone could be considered insider trading. It is too important to not wait until the proper time to release statements because it could jeopardize everything. The fact that they didn’t ignore your questioning is a good sign. Be patient, I believe we are on to something really good.
Dye might want to make an official announcement during the presentation or in the morning so it will get full press coverage.
What I like about FIFG is that we don't get any fluff press releases to try to hype the company and what I hate is that we don't get any press releases at all.....LOL
But seriously, if the money lending division continues to do well, then everything should be ok because the Southeast Edibles chocolates have been pushing their brand aggressively on social media the past few months. If we get any positive numbers from the chocolates side, then we should be off to the races.
I think the management of FIFG is exceptional and I like the fact that they haven't diluted the company with selling shares to keep it operational. With the low float and any positive numbers, we should see a nice payoff.
MDCL has been growing at an incredible pace. They have been hiring personnel in key positions for the past few months. They are currently looking to add a part-time accountant position to probably help keep up with all the financial reports that is going on.
The silence is deafening but understandable with all that is going on to not jeopardize the deals and violate any SEC laws. It is hard to not get emotional about the stock price decline, but algorithm trading doesn't help when it breaks a support level. Computers have no feelings so it just sells based on the chart action and the trading firms take their loss at that time.
This is the reason that I am incredibly confident. Justin Dye came on board and invested $21 million of his own money and took the helm of the company. No one in their right mind would do that and watch it fail. Many companies bring a new CEO on board and hand them free stock and a salary but that CEO doesn't have anything personally at stake so they have no risk. MDCL didn't bring Justin Dye on board for free and his experience is a great resume on how to succeed.
I can't stress to hang in there, we are close to something big. It could be next week at that conference or at least the next earnings report.
Just an unusual thought, could MDCL have some of these deals already completed but they are waiting to get all of them completed so they can come out everyday with an announcement of a deal being done?
This would cause a rocket ship affect for the stock price. While this would not be a common way of doing things, but could be a juggernaut to really shock the stock community. Remember when they came out with these deals, we got announcements almost everyday for two weeks which gave the impressions that all these deals were lined up but wanting to give each deal its own merits on the stock price. It could be hard to come out with all these deals at once and have the analyst community digest them and come out with a real comparison evaluation.
MDCL has been surprising me from the beginning and just was putting this thought out there. It is not the usual way to do business, but MDCL is a trend setter and could be just waiting for all the ducks to line in a row.
Frustrated to see the stock price where it is but I have all the confidence this will be my best investment ever in my 40+ years of stock trading. Good luck to all.
They are at a stage with deals so close to being finalized that they can’t comment. VERT sits on the ask for a 100 shares all day to not let the price rise to scare the crap out of weak shareholders so they panic and sell. Someone is loading up at a slow and steady pace and will be rewarded greatly when it takes off.
No one (meaning Dye Capital) puts up $21 million dollars and takes over running the company will sit there and watch their investment go into the tank. Also, Andy Williams has too much at stake to let that happen also.
It is frustrating to sit by currently and watch the stock price slowly sink. But that is the risk to not already hold a position and have the possibility of news coming out at any time and miss the big run up.
Hang in there everyone. We will be rewarded sooner than later.
Rail:
I have been trading for 40 years so I understand trading. But if you own any shares and not sold your entire position then you are always long. Potts might have meant to say he flip some (trading) but he never shorted. He is a big supporter of MDCL and I know he is waiting patiently for the home run we expect to come.
Good luck to you and all of us waiting for the final news to come.
Hoop
Potts,
What do you mean you shorted some? You either are long or short. If you own any shares then you can’t be short. Just wanted clarity since you are one of the biggest supporters on this thread.
Last chance to get some cheap shares. Should see news and liftoff any day now!
There are approximately 140 shareholders but 85% of the share count is held by insiders. This percentage is a great sign that the stock price will be the payoff for the insiders/management. I am confident that this next earnings report will be the catalysts of what is coming and where we should be heading on stock price.
Medicine Man Technologies Named to 2020 OTCQX Best 50
Press Release | 01/23/2020
Medicine Man Technologies (OTCQX: MDCL) is pleased to announce it has been named to the 2020 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.
The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2020 OTCQX Best 50 were ranked based on their performance in 2019.
“We are grateful to the OTC Markets for acknowledging Medicine Man Technologies. I would like to thank our many shareholders for their support,” said Justin Dye, Chief Executive Officer of Medicine Man Technologies. “I would also like to thank our employees and our announced acquisition partners for their hard work and teamwork. Additionally, our customers are at the center of everything we do, and I would like to thank them for their loyalty and trust in us. We are excited about our growth and are just getting started. In 2020, we remain focused on building on our vision to become one of the most admired cannabis companies in North America.”
For the complete 2020 OTCQX Best 50 ranking, visit https://www.otcmarkets.com/files/2020_OTCQX_Best_50.pdf.
The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
For more information about Medicine Man Technologies, please visit https://www.MedicineManTechnologies.com.
About Medicine Man Technologies
Denver, Colorado-based Medicine Man Technologies (OTCQX: MDCL) is a rapidly growing provider of cannabis consulting services, nutrients, and supplies. The Company's client portfolio includes active and past clients throughout the cannabis industry in 20 states and seven countries. The Company has entered into agreements to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Current agreements will enable Medicine Man Technologies to offer cultivation, extraction, distribution and retail pharma-grade products. Management includes decades of cannabis experience, a unique combination of first movers in industrial cannabis and proven Fortune 500 corporate executives.
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/20200123005810/en/
The IR department most likely can't make any statements because we are so close to a public release due out for the finalized deals. Since the company has already pre-announced these deals, any information or statements can get the company in trouble until the deal is either completed or terminated. Rest assured that Justin Dye and Dye Capital know all the laws concerning press releases and would not do anything to jeopardize the company's standing.
It has been a longer than expected journey and sometimes frustrating, but we are near the finish line. Hang in there because we are in for a hell of a ride. GLTA.
Altigen Communications, Inc. Reports First Quarter Results for Fiscal Year 2020Press Release | 01/22/2020
MILPITAS, CA / ACCESSWIRE / January 22, 2020 / Altigen Communications, Inc. (OTCQB:ATGN), a Silicon Valley based Microsoft ISV and Cloud Solutions provider, announced today its financial results for the first quarter ended December 31, 2019.
Adoption of the New FASB Lease Accounting Standard (ASC 842)
The Company adopted the new ASC 842 lease accounting standard in the first quarter of 2020, which resulted in the recognition of "Operating right-of-use assets" of $1.1 million and "Operating lease liabilities" of $1.1 million, a portion of which is in current liabilities, as of December 31, 2019. There was no impact on the Company's consolidated statements of operations or cash flows. Refer to our upcoming Quarterly Report for further details.
Financial Results
Net Revenue: Total revenue for the first quarter of fiscal 2020 was $2.84 million, compared to $2.66 million in the preceding quarter, and compared to $2.78 million in the prior year quarter. First quarter revenue consisted of:
• Cloud services revenue of $1.7 million, representing an increase of 7% and 17%, respectively, compared to the preceding quarter and the prior year period.
• Software assurance revenue of $722,000, representing an increase of 1% and a decrease of 7%, respectively, compared to the preceding quarter and the prior year period.
• Software license revenue of $204,000, representing a decrease of 23% and 55%, respectively, compared to the previous quarter and the prior year period.
• Professional services and other revenue of $214,000, representing an increase of 145% and 139%, respectively, compared to the preceding quarter and the prior year period.
Gross Margin: Gross margin in the first quarter of fiscal 2020 was 77.6%, compared to 80.3% in the preceding quarter, and compared to 82.9% in the prior year quarter. The decrease was primarily driven by higher amortization of capitalized software and acquisition related costs, and to a lesser extent, a shift in our product mix.
GAAP Net Income: For the first quarter of fiscal 2020, GAAP net income was $502,000, or $0.02 per diluted share, compared with GAAP net income of $290,000, or $0.01 per diluted share in the preceding quarter, and compared with GAAP net income of $612,000, or $0.02 per diluted share in the same period in 2019. As previously disclosed, the Company's fourth quarter fiscal 2019 financial results include a non-cash tax expense of approximately $285,000. The tax expense differs from the federal statutory rate of 21% primarily due to an increase in the amount of net operating losses expected to be utilized before expiration.
Non-GAAP Net Income: Non-GAAP net income for the first quarter of fiscal 2020 was $621,000, or $0.02 per diluted share, compared with non-GAAP net income of $635,000, or $0.02 per diluted share in the preceding quarter, and compared with non-GAAP net income of $736,000, or $0.03 per diluted share in the same period a year ago, representing a slight decrease of 2% and 16%, respectively, primarily as a result of lower gross margin.
GAAP Operating Expenses: GAAP operating expenses totaled $1.7 million for the first quarter of fiscal 2020, compared with $1.6 million in the preceding quarter, and compared with $1.7 million during the same period a year ago.
Non-GAAP Operating Expenses: Non-GAAP operating expenses for the first quarter of fiscal 2020 totaled $1.7 million, compared with $1.6 million in the preceding quarter, and $1.6 million in the comparable period last year.
Balance Sheet
As of December 31, 2019, cash and cash equivalents totaled $4.4 million and working capital was $3.4 million.
Non-GAAP Financial Measures
In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our core operating performance on a period-to-period basis. The excluded items represent stock-based compensation expense, depreciation and amortization expenses and other non-recurring or unusual items that may arise from time to time that we do not consider to be directly related to core operating performance. We use non-GAAP measures to evaluate the core operating performance of our business and to perform financial planning. Since we find these measures to be useful, we believe that investors benefit from seeing results reviewed by management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials, provide useful information to investors by facilitating: (i) the comparability of our on-going operating results over the periods presented and (ii) the ability to identify trends in our underlying business.
The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:
Stock-based compensation expense
Stock-based compensation expense is impacted by the Company's future hiring and retention needs and the future fair market value of the Company's common stock, all of which are difficult to predict and subject to constant change. Furthermore, stock-based compensation expense is generally fixed at the time of grant, then amortized over a period of several years, and generally cannot be changed or influenced by management after the grant. The Company believes that the exclusion of stock-based compensation expense assists investors in the comparisons of operating results to peer companies. Stock-based compensation expense can vary significantly based on the timing, size and nature of awards granted.
Depreciation and amortization expenses
Depreciation and amortization expense includes the depreciation of property and equipment, amortization of capitalized software, as well as amortization of intangible assets. Such expenses are fixed at the time of an acquisition, then amortized over a period of several years. While depreciation and amortization are considered operating costs under GAAP, these expenses primarily represent non-cash current period expense which vary widely from company to company. Management believes that the exclusion of depreciation and amortization expense provides a supplemental measure of the Company's ongoing operating performance.
Other non-recurring or unusual charges
The Company has excluded certain other expenses that are the result of other, non-comparable events to measure operating performance. These events arise outside of the ordinary course of continuing operations. Given the unique nature of the matters relating to these costs, the Company believes these items are not normal operating expenses. For example, legal settlements and judgments vary significantly, in their nature, size and frequency, and, due to this volatility, the Company believes the costs associated with legal settlements and judgments are not normal operating expenses. The Company believes that the exclusion of such out-of-the-ordinary-course amounts provides supplemental information to assist in the comparison of the financial results of the Company from period to period and, therefore, provides useful supplemental information to investors.
Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation. They should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.
Conference Call
Altigen will be discussing its financial results and outlook on a conference call today at 2:00 p.m. Pacific Time (5:00 p.m. ET). The conference call can be accessed by dialing (844) 602-0380 (domestic) or (862) 298-0970 (international). A live webcast will also be made available at www.altigen.com. To access the replay, dial (877) 481-4010 (domestic) or (919) 882-2331 (international), conference ID #57504. A web archive will be made available at www.altigen.com for 90 days following the call's conclusion.
About Altigen Communications
Altigen Communications, Inc. (OTCQB: ATGN), a leading Microsoft Cloud Solutions provider, delivers fully managed Unified Communications services, combining Hosted Skype for Business, Advanced Cloud PBX, and Innovative Cloud Contact Center applications with seamless integration to Office 365 for small-to-medium sized businesses and mid-size to large enterprises. Our robust suite of applications integrate with Skype for Business, Microsoft Teams and Office 365 to deliver unparalleled capabilities to organizations using these Microsoft solutions. With thousands of customers around the world, Altigen solutions are designed for high reliability, ease of use, seamless integration to Microsoft infrastructure technologies, and are built on a scalable, open standards platform. Altigen's worldwide headquarters is in Silicon Valley, CA. For more information, call 1-888- ALTIGEN or visit the web site at www.altigen.com.
Safe Harbor Statement
This press release contains forwardlooking information. The statements are based on reasonable assumptions, beliefs and expectations of management and the Company provides no assurance that actual events will meet management's expectations. Furthermore, the forward-looking statements contained in this press release are based on the Company's views of future events and financial performances which are subject to known and unknown risks and uncertainties, many of which are outside the Company's control. There can be no assurances that the Company will achieve expected results, and actual results may be materially different than expectations and from those stated or implied in forward-looking statements.
Please refer to the Company's most recent Annual Report filed with the OTCQB over-the-counter market for a further discussion of risks and uncertainties. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company does not undertake any obligation to update any forward-looking statements.
ALTIGEN COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(amounts in thousands, except per share data)
Three Months Ended
December 31,
2019 2018
Net revenue $ 2,844 $ 2,779
Gross profit 2,208 2,303
Operating expenses:
Research and development 656 614
Selling, general & administrative 1,058 1,079
Operating income 494 610
Other income/(expense), net 8 2
Net income before provision for income taxes 502 612
Income tax benefit (expense) - -
Net income $ 502 $ 612
Per share data:
Basic $ 0.02 $ 0.03
Diluted $ 0.02 $ 0.02
Weighted average shares outstanding:
Basic 22,921 22,842
Diluted 25,913 24,918
ALTIGEN COMMUNICATIONS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(amounts in thousands)
December 31, 2019 September 30, 2019
Cash and cash equivalents $ 4,423 $ 4,357
Accounts receivable, net 543 371
Other current assets 356 287
Property and equipment, net 74 84
Operating lease right-of-use (1) 1,063 -
Intangible assets, net 429 395
Capitalized software, net 1,345 1,154
Deferred tax asset 8,453 8,453
Other long-term assets 36 36
Total assets $ 16,722 $ 15,137
Current liabilities (1) $ 1,912 $ 1,678
Long-term liabilities (1) 1,133 295
Stockholders' equity 13,677 13,164
Total liabilities and stockholders' equity $ 16,722 $ 15,137
(1) On October 1, 2019, the Company adopted the new leasing guidance (ASU 2016-2), which requires that a lessee recognize the assets and liabilities that arise from operating leases. The Company recognized a right-of-use asset and a liability relating to lease payments (the Lease Liability) in the statements of financial position for lease contracts having terms beyond 12 months period. The adoption of new leasing guidance resulted in recognition of $1.1 million of right-of-use asset and a total of $1.1 million of leasing liability as of December 31, 2019.
ALTIGEN COMMUNICATIONS, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(amounts in thousands, except per share data)
Three Months Ended
December 31,
2019 2018
Reconciliation of GAAP to Non-GAAP Gross Profit:
GAAP gross profit $ 2,208 $ 2,303
Amortization of capitalized software 42 21
Acquisition related expenses 40 -
Non-GAAP gross profit $ 2,290 $ 2,324
Reconciliation of GAAP to Non-GAAP Expenses:
GAAP operating expenses $ 1,714 $ 1,693
Section 382 study (1) - 68
Depreciation and amortization 10 12
Amortization of capitalized software 22 15
Stock-based compensation 5 8
Non-GAAP operating expenses $ 1,677 $ 1,590
GAAP net income $ 502 $ 612
Section 382 study (1) - 68
Depreciation and amortization 10 12
Amortization of capitalized software 64 36
Stock-based compensation 5 8
Acquisition related expenses 40 -
Non-GAAP net income $ 621 $ 736
Per share data:
Basic $ 0.03 $ 0.03
Diluted $ 0.02 $ 0.03
Weighted average shares outstanding:
Basic 22,921 22,842
Diluted 25,913 24,918
(1) During the first quarter of fiscal 2019, the Company performed a section 382 ownership change analysis to determine if there were any limitations on the utilization of its NOLs.
CONTACT:
Carolyn David
Vice President of Finance
Altigen Communications, Inc.
Phone: 408-597-9033
www.altigen.com
SOURCE: Altigen Communications, Inc.
This upcoming annual report can be a real game changer. If the cash advance merchant business keep up it's growth pace and be cash positive, then I think we will really see liftoff. I am pretty confident that the edible chocolates division will have a surprising first quarter. Southeast Edibles have been active on social media spreading the word.
This company is relatively unknown so if the numbers catch the attention of investment analysts, this could rocket due to the low share float and no convertible debt. With so few posters here on this board, proves how unfollowed this stock currently is. It has been a ride of patience but I am glad to have my position already.
Just watching and waiting at this point and looking forward to March. Good luck to all.
Just some thoughts, this company is one of the best in the industry and is profitable. We definitely have a solid base in the $2.70 - $2.90 range. I think there will be some real value bargain hunters out there and will realize this stock is way undervalued so I expect a nice rally from now until the end of the year. I am looking for 20% rally in the price from here heading into the new year.
Wishing all a Merry Christmas and Happy New Year. This is one of the best chat boards and one of the most educated and informed. It's great to be part of it and I look forward to that big party sometime in the future for MDCL!
If we can get past the resistance of 60,000 shares at $.36, then we go to $1.00+.
Medicine Man Technologies Strengthens Leadership Team
- Co-founder Andy Williams to become Vice Chairman and President with focus on growth initiatives for the Company
- Justin Dye appointed as Executive Chairman and Chief Executive Officer with focus on strategic management of the Company
PR Newswire
DENVER, Dec. 9, 2019
DENVER, Dec. 9, 2019 /PRNewswire/ -- Medicine Man Technologies Inc. (OTCQX: MDCL) announced today several changes to its executive leadership team. The changes reflect a thoughtful and strategic approach to long-term growth for the organization.
Medicine Man Technologies Inc. Logo (PRNewsfoto/Medicine Man Technologies Inc.)
As a visionary of the cannabis industry, Andy Williams founded Medicine Man Technologies in 2014 with a focus on bringing cannabis expertise to organizations across the United States and the world. Over the last five years, Williams was a key leader in scaling the business, including taking the company public, overseeing the acquisition of product companies, such as Success Nutrients, Three-A-Light cultivation publication, and Big Tomato Hydroponics, and notably leading the charge on Colorado House Bill 19-1090, which opened the Colorado cannabis industry to outside funding.
Earlier this year, the Company announced one of the largest roll-ups in the cannabis industry to bring together 12 operators across the state of Colorado, creating one of the leading vertically integrated cannabis companies in North America. Upon the anticipated closing of the series of pending acquisitions in 2020, the Company will have 12 cultivation operations, seven product manufacturing operations, 34 dispensaries (including one currently under construction), and advanced research, development and innovation capabilities all under a single entity.
With the Company's strategy set, Williams will now focus on driving the company's vision, advocating for the cannabis industry, fostering innovative ideas and growth, and continuing to build on the Company's great foundation by exploring opportunities both within Colorado and beyond. In this new role, Williams will be Vice-Chairman and President of the Company.
The Company's Board of Directors has appointed Justin Dye of Dye Capital as Executive Chairman and Chief Executive Officer. Dye brings more than 25 years of strategic management, operations, strategy, corporate finance, and M&A experience. In his new role, Dye will be focused on leading day-to-day operations across the organization, creating an environment that promotes strong performance with all associates and ensuring the progression of our announced targeted acquisitions to achieve the company's strategic growth.
"I am excited about the next chapter of Medicine Man Technologies," said Co-Founder Andy Williams. "I am an entrepreneur at heart and being able to focus on new initiatives and opportunities across the industry will enable the Company to thrive in this ever-changing landscape. We are at a critical stage in the Company's growth and bringing in Justin to lead the day-to-day operations enables an even greater focus on building a strong company positioned for long-term success."
Additionally, Bob DeGabrielle has been appointed as Chief Operating Officer of the Company. DeGabrielle is a trailblazer in the cannabis industry and is the founder of Los Sueños Farms, one of the largest outdoor grows in North America. DeGabrielle brings more than 40 years of experience in acquiring, developing, managing, and selling commercial and residential real estate. This breadth and depth of operational expertise, combined with his strong working knowledge of the cannabis industry, will greatly benefit the organization.
Finally, Nancy Huber has been promoted to Chief Financial Officer. Huber joined the Company in August as the Senior Vice President of Finance and is an effective and strategic leader with more than 30 years of experience and significant expertise with consumer-packaged goods companies. Huber brings a strong business acumen and will be focused on fiscal discipline for the Company.
"I believe this leadership team positions the Company for sustainable growth," commented Chief Executive Officer Justin Dye. "The combination of a world-class executive team, the great people of Medicine Man Technologies and its targeted acquisition partners creates a team that is unrivaled in the industry. Our strategy to become one of the largest vertically integrated cannabis operators in North America is a big opportunity for us, and I am excited to work alongside pioneers of the industry. We are at a stage of the company's development to start seeing even greater momentum and I truly believe in our vision to build one of the most admired cannabis companies in the industry. Together, we are building a culture of speed, innovation, and teamwork, all with a growth mindset. Our combined efforts will benefit our employees, our shareholders, the communities in which we operate, and our consumers."
For more information about Medicine Man Technologies, please visit https://www.MedicineManTechnologies.com/.
About Medicine Man Technologies
Denver, Colorado-based Medicine Man Technologies (OTCQX: MDCL) is a rapidly growing provider of cannabis consulting services, nutrients, and supplies. The Company's client portfolio includes active and past clients throughout the cannabis industry in 20 states and seven countries. The Company has entered into agreements to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Current agreements will enable Medicine Man Technologies to offer cultivation, extraction, distribution and retail pharma-grade products. Management includes decades of cannabis experience, a unique combination of first movers in industrial cannabis and proven Fortune 500 corporate executives.
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.
Contact:
Raquel Fuentes
Senior Director, Corporate Communications
303-371-0387
raquel@medicinemantechnologies.com
Please don’t spam messages on this board about garbage stocks like SCON. Five years ago SCON was trading around $440 and now is at an all time low of $.15. The only way it has stayed listed is due to reverse splits year after year and selling more stock to pay the bills. SCON is heading towards bankruptcy. FIFG will be above $.45 when the next quarterly earnings come out because they are paused for great revenue growth and will be heading north of a $1.00 per share.
Medicine Man Technologies, a Key Proponent of Colorado's HB19-1090, Slated for Record Growth with Passing of Historic "PubCo" Bill
Press Release | 11/27/2019
Medicine Man Technologies, a Key Proponent of Colorado's HB19-1090, Slated for Record Growth with Passing of Historic "PubCo" Bill
First publicly traded company files to bring together pioneers of Colorado's cannabis industry as new bill allows publicly traded companies to own cannabis licenses
PR Newswire
DENVER, Nov. 27, 2019
DENVER, Nov. 27, 2019 /PRNewswire/ -- Medicine Man Technologies (OTCQX: MDCL), one of the state's pioneers in the cannabis industry, entered into term sheets with 12 of Colorado's cannabis businesses since the recent passing of Colorado's House Bill 19-1090. HB19-1090 or the "PubCo" bill allows publicly traded companies to own and invest in Colorado cannabis businesses. The Company was one of the first publicly traded companies to submit suitability and change of ownership applications to the Marijuana Enforcement Division to apply for approval to acquire Mesa Organics, one of the announced pending acquisitions, as part of the new legislation.
Mesa Organics would be the first to join Medicine Man Technologies in its efforts to become a leading vertically integrated company. Mesa Organics operates two dispensaries in Southern Colorado with two more scheduled to open by the end of this year. Mesa Organics also operates under the name Purplebee's, which is the leading Colorado pure CO2 and ethanol extractor and manufacturer, as well as producer of cannabis products for some of the leading edible companies across the state.
"The Mesa Organics and Purplebee's teams are excited to be the first to execute a change of ownership application to join the Medicine Man Technologies family," said Jim Parco, Chief Executive Officer of Mesa Organics and Purplebee's. "The vision set out by Andy Williams to create a leading vertically integrated cannabis company is one that resonates greatly with me and HB19-1090 allows us to execute on this vision. Since the cannabis industry entered Colorado, entrepreneurs like me, have operated in a tightly regulated market without access to outside funding. To be part of one of the largest roll-ups in the state of Colorado and North America because of the opening to outside funding, is a truly exciting milestone for our company."
Colorado's HB19-1090 law went into effect on November 1, 2019, which means Medicine Man Technologies, which supported the legislation from its inception, is now able to execute on the previously announced term sheet agreements. Upon closing the series of pending acquisitions, anticipated to occur in 2020, the company will have 12 cultivation operations, seven product manufacturing operations, 34 dispensaries (including two currently under construction), and an R&D lab all under a single entity. While the Mesa Organics change of ownership filing is the first of many to be filed, this deal is not expected to close until the first quarter of 2020.
"Medicine Man Technologies benefits greatly from the ability to merge Colorado's leading cannabis companies into one organization, focused on consumers," said Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. "Colorado is one of the oldest, most mature, and tightly-regulated cannabis markets in North America and the pioneers of the industry, including Jim Parco, know it like the back of our hands. I am thrilled we are moving forward with change of ownership filing with Mesa Organics, as Jim and his team bring a breadth and depth of knowledge of the cannabis market and will prove instrumental in providing high quality premium products that align with where the Company is going. This knowledge and know-how is what differentiates the Company and the outlined acquisition strategy compared to those looking to enter the Colorado market for the first time."
Additionally, HB19-1090 can act as a catalyst for outside capital to flood into Colorado to fund expertise in the cannabis space. Similar to how other states were looking to Colorado as a guide for establishing medical and recreational programs, innovators and entrepreneurs will be exported from Colorado to lead the national cannabis economy. The principals of all the companies to be acquired, combined with the experience of Medicine Man Technologies will equal over 170 years of experience in regulated cannabis.
For more information about Medicine Man Technologies, please visit www.MedicineManTechnologies.com.
About Medicine Man Technologies
Denver, Colorado-based Medicine Man Technologies (OTCQX: MDCL) is a rapidly growing provider of cannabis consulting services, nutrients, and supplies. The Company's client portfolio includes active and past clients throughout the cannabis industry in 20 states and seven countries. The Company has entered into agreements to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Current agreements will enable Medicine Man Technologies to offer cultivation, extraction, distribution and retail pharma-grade products. The Company's intellectual property includes the "Three A Light" methodology for cannabis cultivation and pending acquisition candidate MedPharm's GMP-certified facility, a Colorado state-licensed research facility with a pending application for a federal bulk-manufacturing cannabis license and a pending city license that will allow for clinical research of cannabis applications for treating diseases. Management includes decades of cannabis experience, a unique combination of first movers in industrial cannabis and proven Fortune 500 corporate executives.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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 neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks and uncertainties include, without limitation, risks, and uncertainties associated with (i) regulatory limitations on our products and services; (ii) our ability to complete and integrate acquisitions; (iii) general industry and economic conditions; and (iv) our ability to access adequate financing on terms and conditions that are acceptable to us, as well as other risks identified in our filings with the SEC. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise.
Contact:
Raquel Fuentes
303-371-0387
raquel@medicinemantechnologies.com
Cision View original content:http://www.prnewswire.com/news-releases/medicine-man-technologies-a-key-proponent-of-colorados-hb19-1090-slated-for-record-growth-with-passing-of-historic-pubco-bill-300966240.html
SOURCE Medicine Man Technologies, Inc.
Dilution is selling stock to pay the bills to keep the lights on without enhancing the business growth. They are issuing stock to make acquisitions so it is growth and is being done on companies that are EBITDA positive. MDCL is a cash positive and profitable business.
Many people can't wait for deals to materialize and want constant press releases so they can pull the trigger to flip and make a few bucks. In my opinion the reason for the increase share float is that they must be anticipating additional deals in the future and need to make sure the authorized shares are already in place to get the deals done.
This company could be the juggernaut of the cannabis sector.
You don’t have to redo the deals because the stock price has dropped. It is computerized algorithm trading that has done this. There is no downside volume pressure and market makers also gun it down to take out the sell-stops.
While I find it disappointing that we haven’t gotten to a higher level, I really believe it in what they have planned and will execute in the near future. The problem is the sector overall is overpriced by many bad deals done by other companies and MDCL is just following along by computerized trading. I wish I had extra cash to buy more but for all that do, what a great opportunity you have in front of you.
The buy side is weak because everyone that has followed this company has bought their position expecting it to already make its upward move. Some big player that has a position will most likely come in to stabilize the buy side and hold the price (example: Dye Capital or another fund manager). As soon as they announce the finalization of the deals, we will start running the other way. Just my opinion/observation and good luck to all.
We are at a battle ground at this $3.00 level. Today as soon as someone took it above $3.00, someone came right back and force it below the $3.00 level. I believe we will hold this price level because all of the deals (except Green Equity which was cancelled) are between the $2.80 - $3.10 level.
Thoughts on earnings?
It is one of the glass half full and glass half empty. I like revenues rising every quarter but a little alarmed by the extreme rise in expenses. I expect with the chocolate division growing would make the expenses grow by not sure what to make of overall increase.
Anything to add? Always interested to hear from others.
Did anyone contact the company by chance to find out why earnings didn’t come out? The company has a history of putting out earnings on time.
Andy really has his eye on expansion and growth. The company currently has 8 job openings so he can add key personnel moving forward.
Just something to think about is the surprising thing about the Green Equity deal being dissolved is that it was one of the earliest deals and the price of that deal for MDCL was at $3.83 a share. Maybe Green Equity decided to walk away because all of the other deals are very close to the $3.00 price per share range. The Green Equity deal was also just announced when Dye Capital made their first investment in MDCL.
No way for us to know what caused the termination of the agreement unless Andy decides to release more details. Maybe it will mean nothing in the scheme of things but just thought that the price of $3.83 a share made Green Equity to walk. In my opinion, $3.83 will still be a bargain to own shares at in the upcoming future.
Medicine Man Technologies Announces Third Quarter 2019 Financial Results
- Total Revenue Grew by 14% Y-O-Y Driven by Continued Growth in Consulting Services and Products with Success Nutrients and The Big Tomato
- Company Strategy Fortified Through Seven Additional Pending Acquisitions to Become One of the Largest Vertically Integrated Cannabis Operators
- Company Commitment to Protecting Cannabis Consumers Reinforced by Recent Identification of Certain Substances Related to Vape Use Illnesses by Health Officials
- Company to Host Financial Results Conference Call and Company Updates on Monday, November 11, 2019 at 8:30 a.m. EST
PR Newswire
DENVER, Nov. 11, 2019
DENVER, Nov. 11, 2019 /PRNewswire/ -- Medicine Man Technologies, Inc.(MDCL) ("Medicine Man Technologies" or the "Company") today announced the financial results for its third quarter of 2019.
During the quarter ended September 30, 2019, total revenue was $5,338,868, an increase of approximately 14% compared to revenues of $4,672,519 in the quarter ended September 30, 2018. Strong product sales and litigation revenue in the most recent quarter offset a one-time licensing sale in the same quarter of 2018.
The Company reported cost of goods and services totaling $2,786,244 during the three months ended September 30, 2019. This compares to $459,280 during the same period in 2018. This increase was due primarily to increased costs related to the sale of products.
Operating expenses during the three months ended September 30, 2019 were $3,478,232 as compared to $1,842,954 for the same period prior year. The increase was primarily attributable to non-cash, stock-based compensation and costs associated with activities related to building an infrastructure to ensure a seamless integration of our numerous pending acquisitions and to help build the proper platform for sustainable growth.
The Company reported net loss in the three months ending September 30, 2019 of $1,827,978, equivalent to ($0.05) per share, as compared to a net income of $4,950,601, or $0.18 per share, for the three months ending September 30, 2018.
The Company's cash balance at September 30, 2019 was $15,204,587 as compared to $529,674 at September 30, 2018. The increased cash position was due primarily to the equity investment by strategic partner Dye Capital & Company.
"The third quarter of 2019 was a transformational one for the Company," said Mr. Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies(MDCL). "We reported seven additional proposed acquisitions, bringing our total to 12 pending acquisitions, we filled a key leadership role within the Company, and saw positive initiatives in the industry both locally and federally, which strengthened our industry leading position. In looking at our operations related to the consulting services and our products, the continued positive trends we see in the third quarter are encouraging, as both grew at double digit percentage growth rates."
"Beyond our financial performance, I also wanted to take a moment to address the vaping crisis that is now being discussed at the national level," said Mr. Williams. "Recently, U.S. health officials singled out vitamin E acetate as a likely culprit causing lung injuries related to vaping. While we believe that this additive in vaping products is more commonly found in the illicit market, MedPharm Holdings, one of our pending acquisitions, never used this additive in its products and advocated for its ban at the state level almost two months ago. Medicine Man Technologies(MDCL) again calls for intense focus by health officials on chemical additives added to vape liquids that can be unsafe. We have always put the health and safety of cannabis consumers first and have always used a science-based, public health approach in our product development. MedPharm reiterates its formal policy prohibiting the use of any potentially harmful chemical additives in its vape concentrates, including vitamin E acetate. Additionally, Medicine Man Technologies(MDCL) calls for Colorado regulators to again be cannabis pioneers for the nation by specifically banning the use of propylene glycol (PG), vegetable glycerin (VG), and medium chain triglycerides (MCT) in all vape concentrates in the legal market. We must put the health of cannabis consumers at the forefront and take steps to truly protect them."
"To close out, I want to reiterate that our strategy is to become one of the largest vertically integrated cannabis operators in North America by delivering the best products through leading cultivation, manufacturing, and extraction methods," said Mr. Williams. "Accomplishing this takes time, effort, quality people, and proper planning, so some expenses were incurred in the third quarter to help establish the longer-term necessary infrastructure to achieve this goal. We look forward to the quarters ahead and will remain focused on closing on all 12 of our pending acquisitions."
Third Quarter 2019 Conference Call and Company Updates
The Company will host a conference call on Monday, November 11, 2019, before the market opens at 8:30 a.m. EST. Investors interested in participating in the call can dial 877-407-8293 from the U.S. or 201-689-8349 internationally. A live webcast will also be available on the Company's website at https://ir.medicinemantechnologies.com. It is recommended that investors visit the website 15 minutes prior to the call to register, download, and install any necessary audio software.
A telephone replay of the earnings call will be available beginning approximately two hours after the call and ending November 25, 2019 by dialing 877-660-6853 for participants in the U.S. or 201-612-7415 for participants that are international and entering access code 13696317. The webcast will be archived for two weeks on the Company's website.
Chief Executive Officer Andy Williams will be joined by Chief Operating Officer Joe Puglise and Senior Vice President of Finance Nancy Huber to discuss the Company's financials, provide a corporate update, and answer questions during the call. Participants may submit questions prior to the call by emailing ir@medicinemantechnologies.com with "MDCL Question" in the subject line, and also during the live call via webcast.
For more information about Medicine Man Technologies(MDCL), please visit https://www.MedicineManTechnologies.com.
About Medicine Man Technologies(MDCL)
Denver, Colorado-based Medicine Man Technologies(MDCL) is a rapidly growing provider of cannabis consulting services, nutrients and supplies. The Company's client portfolio includes active and past clients in 20 states and 7 countries throughout the cannabis industry. The Company has entered into agreements to become one of the largest vertically integrated seed-to-sale operators in the global cannabis industry. Current agreements will enable Medicine Man Technologies(MDCL) to offer cultivation, extraction, distribution and retail pharma-grade products internationally. The Company's intellectual property includes the ""Three A Light"" methodology for cannabis cultivation and pending acquisition candidate MedPharm's GMP-certified facility, which has the first cannabis research license to conduct clinical trials in the United States. Management includes decades of cannabis experience, a unique combination of first movers in industrial cannabis and proven Fortune 500 corporate executives.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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 neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) regulatory limitations on our products and services; (ii) our ability to complete and integrate acquisitions; (iii) general industry and economic conditions; and (iv) our ability to access adequate financing on terms and conditions that are acceptable to us, as well as other risks identified in our filings with the SEC. The Company assumes no obligation to publicly update or revise its forward- looking statements as a result of new information, future events or otherwise.
Investor Relations Contact:
ir@medicinemantechnologies.com
1-866-348-1997
MEDICINE MAN TECHNOLOGIES, INC.
(MDCL)
BALANCE SHEET
Expressed in U.S. Dollars
September 30, December 31,
2019 2018
Assets
Current assets:
Cash and cash equivalents $15,204,587 $321,788
Accounts receivable 1,901,019 1,180,757
Accounts receivable -- related party 490,485 125,112
Inventory 407,708 489,239
Other assets 774,856 50,824
Total current assets 18,778,655 2,167,720
Noncurrent assets:
Fixed assets, net accumulated
depreciation of $189,896 and
$149,015 61,072 94,640
Goodwill 12,304,306 12,304,306
Intangible assets, net accumulated
amortization of $19,058 and $13,903 76,309 81,197
Investment 741,307 2,199,344
Accounts receivable -- litigation 3,063,968 1,281,511
Note receivable -- noncurrent, net 237,246 92,888
Note receivable -- related party 487,695 --
Operating lease right of use assets 168,344 --
Total noncurrent assets 17,169,579 16,053,886
Total assets $35,918,902 $18,221,606
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $915,651 $202,515
Accounts payable -- related party 20,703 71,312
Accrued expenses 485,292 291,084
Derivative liabilities 5,852,649 --
Income taxes payable 582,931 582,931
Total current liabilities 7,857,226 1,147,842
Noncurrent liabilities:
Lease liabilities 121,835 --
Total noncurrent liabilities 121,835 --
Total liabilities 7,979,061 1,147,842
Commitments and contingencies, note 13
Shareholders' equity
Common stock $0.001 par value.
90,000,000 authorized, 39,369,511
and 27,753,310 were issued and
outstanding September 30, 2019 and
December 31, 2018, respectively. 39,490 27,875
Additional paid-in capital 44,656,071 20,239,163
Additional paid-in capital --
warrants 2,647,461 2,647,461
Retained earnings (19,403,181) (5,840,735)
Total shareholders' equity 27,939,841 17,073,764
Total liabilities and stockholders'
equity $35,918,902 $18,221,606
MEDICINE MAN TECHNOLOGIES, INC.(MDCL)
STATEMENT OF COMPREHENSIVE (LOSS) AND INCOME
For the Three and Nine Months Ended September 30, 2019 and 2018
Expressed in U.S. Dollars
Three Months Ended Nine Months Ended
September 30, September 30,
2019 2018 2019 2018
Operating
revenues:
Product sales,
net $2,147,182 $239,085 $4,743,391 $797,381
Product sales --
related party,
net 613,014 143,761 893,084 425,499
Consulting,
licensing and
Cultivation Max
fees 781,021 3,244,285 1,657,286 4,972,573
Litigation
revenue 1,782,457 1,015,154 1,782,457 1,015,154
Other operating
revenues 15,195 30,234 23,946 90,636
Total revenue 5,338,869 4,672,519 9,100,164 7,301,243
Cost of goods
and services:
Cost of goods
and services $2,786,244 $459,280 $5,471,369 $1,213,194
Total cost of
goods and
services 2,786,244 459,280 5,471,369 1,213,194
Gross profit $2,552,625 $4,213,239 $3,628,795 $6,088,049
Operating
expenses:
Selling, general
and
administrative
expenses $718,990 $259,900 $1,092,702 $710,647
Professional
services 837,940 177,103 3,602,772 657,694
Salaries,
benefits and
related
expenses 980,432 568,451 1,862,990 1,340,724
Stock based
compensation 940,870 837,500 3,166,276 837,500
Derivative
expense --
contingent
compensation -- -- 5,400,559 --
Total operating
expenses $3,478,232 $1,842,954 $15,125,299 $3,546,565
Income from
operations $(925,607) $2,370,285 $(11,496,504) $2,541,484
Other income
(expense):
Interest income
(expense), net $36,462 $(17,794) $(155,815) $22,439
Other income
(expense) -- -- -- (4,316)
Unrealized gain
(loss) on
derivative
liabilities (197,526) -- (452,090) --
Unrealized gain
(loss) on
investments (741,307) 2,598,110 (1,458,037) 2,598,110
Total other
income
(expense) (902,371) 2,580,316 (2,065,942) 2,616,233
Net income
(loss) $(1,827,978) $4,950,601 $(13,562,446) $5,157,717
Earnings (loss)
per share
attributable to
common
shareholders:
Basic and
diluted
earnings (loss)
per share $(0.05) $0.18 $(0.44) $0.19
Weighted average
number of
shares
outstanding -
basic and
diluted 35,115,889 27,578,310 31,136,392 27,578,310
Other
comprehensive
income (loss),
net of tax
Total other
comprehensive
income (loss),
net of tax -- -- -- --
Comprehensive
income (loss) $(1,827,978) $4,950,601 $(13,562,446) $5,157,717
MEDICINE MAN TECHNOLOGIES, INC.(MDCL)
STATEMENT OF CASH FLOWS
For the Nine months Ended September 30, 2019 and 2018
Expressed in U.S. Dollars
2019 2018
Cash flows from operating activities
Net income for the period $(13,562,446) $5,157,717
Adjustments to reconcile net income
to net cash provided by operating
activities
Depreciation and amortization 45,768 54,253
Common stock issued in exchange for
fees and services 210,521 --
Derivative expense 5,400,559 --
Loss on change in derivative
liabilities 452,091 --
Loss on investment, net 1,458,037 --
Stock based compensation 3,921,276 837,500
Changes in operating assets and
liabilities
Note receivable -- 2,561
Accounts receivable (2,868,093) (1,566,811)
Inventory 81,530 (335,869)
Prepaid expenses and other current
assets (629,032) (3,580)
Operating lease right of use assets
and liabilities (67,839) --
Accounts payable and other
liabilities 878,066 (61,879)
Net cash used from operating
activities (4,679,562) 4,083,892
Cash flows from investing activities
Purchase of fixed assets (7,312) --
Sale of assets -- 16,187
Short term debt -- (58,280)
Issuance of notes receivable (632,053) --
Investment proceeds -- (5,260,840)
Net cash used in investing activities (639,365) (5,302,933)
Cash flows from financing activities
Proceeds from issuance of common
stock, net of issuance costs 19,600,000 1,000,000
Proceeds from exercise of common
stock purchase warrants, net of
issuance costs 601,726 --
Net cash earned for financing
activities 20,201,726 1,000,000
Net decrease in cash and cash
equivalents 14,882,799 (219,041)
Cash and cash equivalents - beginning
of period 321,788 748,715
Cash and cash equivalents - end of
period $15,204,587 $529,674
View original content to download multimedia:http://www.prnewswire.com/news-releases/medicine-man-technologies- announces-third-quarter-2019-financial-results-300955269.html
SOURCE Medicine Man Technologies, Inc.(MDCL)
/Web site: http://www.medicinemantechnologies.com
(END) Dow Jones Newswires
11-11-190703ET
Earnings due out on Wednesday, 11/13/2019. Should be interesting. GLTA!
First Foods Group Raises $750k and Signs a Master Distribution Agreement With CBD Unlimited
Press Release | 11/04/2019
NEW YORK, NY, Nov. 04, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- First Foods Group, Inc. (OTCQB: FIFG) has announced today that its significant fundraising activities have culminated in a raise of $750,000 in October 2019. The funds will be used by First Foods to expand the production and distribution of its hemp-based premium chocolate supplement product line available now to consumers under the brand name, “Southeast Edibles.” First Foods has been refining its chocolate supplement recipes in its state-of-the-art production facility since March of this year.
First Foods is strategically expanding its market penetration capabilities by signing a master distribution agreement with CBD Unlimited, Inc. (OTCQB: EDXC), which is a leading researcher, manufacturer and distributor of a wide range of CBD products that have been scientifically designed and tested to perfect the delivery of accurate CBD dosage.
Through this injection of capital and close collaboration with CBD Unlimited, First Foods is positioned to expedite the aggressive development of distinctive chocolate supplement products. Southeast Edibles will offer a variety of premium chocolate flavors with different concentrations of CBD Unlimited’s top-rated CBD.
“First Foods Group will be a significant contributor to CBD Unlimited's growth strategy as we advance into the food category. According to Arcview Market Research, U.S. CBD sales are expected to hit $20 billion by 2024. As this forecast includes the increase in CBD-infused supplements, we are excited to accelerate into this market," commented Todd Davis, CEO & Chairman of CBD Unlimited. "We look forward to working closely with First Foods Group and leveraging their knowledge and expertise in CBD-infused supplement innovation.”
“We are excited to work with CBD Unlimited to bring our newly launched Southeast Edibles product line to market. Our thorough, thoughtful approach to developing only the highest quality chocolate supplements is an ideal match with CBD Unlimited's scientific approach to perfecting the accuracy of CBD dosage in all-natural supplement products. CBD Unlimited’s loyal customer base and expanding market access gives us confidence that they are an ideal partner to help bring our products to discerning customers who demand quality chocolate products that have an exceptional taste and deliver a consistent and reliable dose of hemp-based ingredients,” according to Harold Kestenbaum, CEO and Chairman of FIFG.
Company management has been and remains particularly focused on expanding their investor base and creating their own chocolate supplements from carefully selected raw materials, including cacao beans that come directly from well-established farms located throughout South America that enjoy long-standing, personal relationships with FIFG’s third-generation chocolatier. The Company’s Holy Cacao chocolate is infused with only the best hemp extracts.
FIFG’s premium chocolate supplements offer a broad spectrum of premium chocolate in dark, dairy-free milk, and white varieties that are all available with different concentrations of naturally occurring CBD. The Company has featured Southeast Edibles in a brand-new website and e-commerce shop, which is positioned today to fulfill purchase orders from inaugural buyers from targeted states.
About First Food Group, Inc.
First Foods Group, Inc. provides management services and funding options for emerging supplement brands and menu concepts. First Foods Group, Inc. is also growing its own new concepts, both through proprietary development and through mergers, acquisitions, and licensing arrangements. First Foods Group has assembled a team of distinguished professionals with experience and success at the highest levels of the industry.
About CBD Unlimited, Inc.
CBD Unlimited. Inc. develops and distributes all-natural products from the cannabis sativa L plant (hemp) with less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of high therapeutic value. The science behind these products involves nearly a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per serving.
In order to provide conformity with federal and state mandates, the company has incorporated its “Gorilla-Tek” platform into their business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that tracks high-risk, high-shrink, regulated and restricted products maintained under federal/state/local regulations. The platform provides asset protection, inventory management, compliance and an “end of sale” technology integration. Gorilla-Tek is tremendously efficient, as it provides up-to-the-minute accounting and product details and GEO-location for consumer apps. Gorilla-Tek increases productivity, while reducing costs for retailers and costs in time for customers.
Safe Harbor Notice
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, contact:
COMPANY: First Foods Group, Inc.
Contact: 201-471-0988; info@firstfoodsgroup.com
SOURCE First Foods Group, Inc.
CBD Unlimited Closes Deal with First Foods Group to Launch Hemp-Based Premium CBD Products
Press Release | 11/04/2019
CAVE CREEK, AZ, Nov. 04, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CBD Unlimited, Inc. (OTC: EDXC) formerly known as Endexx Corporation (EDXC), a provider of innovative phytonutrient-based food and nutritional products, announced today a momentous advancement of the company’s new partnership with First Foods Group, Inc. (OTCQB: FIFG), a leading chocolate manufacturer, to launch hemp-based premium chocolate product line under the brand name, “Southeast Edibles.”
Backed by a proven track-record, First Foods Group will assist in furthering CBD Unlimited’s goals of continuously expanding and innovating its product suite. First Foods Group has launched its first hemp-based chocolate product line under the name Southeast Edibles. CBD Unlimited will play a significant role in regulating the distribution, as well as assisting with the development of high-quality CBD-infused chocolates. Critical applications provided under the agreement include identifying unique food concepts, funding options, and manufacturing services.
Through this collaboration, First Foods Group and CBD Unlimited expect this initial launch to promote the continued development of distinctive ingestible CBD products. Southeast Edibles will offer a variety of premium chocolate flavors with different concentrations of CBD Unlimited’s top-rated CBD.
“First Foods Group will be a significant contributor to CBD Unlimited's growth strategy as we advance into the food category. According to Arcview Market Research, U.S. CBD sales are expected to hit $20 billion by 2024. As this forecast includes the increase in CBD-infused food products, we are excited to accelerate into this market," commented Todd Davis, CEO & Chairman of CBD Unlimited. "We look forward to working closely with First Foods Group and leveraging their knowledge and expertise in CBD-infused food innovation.”
“We are excited to work with CBD Unlimited to bring our newly launched Southeast Edibles product line to market. Our thorough, thoughtful approach to developing only the highest quality CBD chocolate edibles is an ideal match with CBD Unlimited's scientific approach to perfecting the accuracy of CBD dosage in all-natural food products. CBD Unlimited’s loyal customer base and expanding market access gives us confidence that they are an ideal partner to help bring our products to discerning customers who demand quality chocolate edibles that have an exceptional taste and deliver a consistent and reliable dose of hemp-based ingredients,” according to Harold Kestenbaum, CEO and Chairman of FIFG.
About First Foods Group, Inc.
First Foods Group, Inc. provides management services and funding options for emerging food brands and menu concepts. First Foods Group, Inc. is also growing its own new concepts, both through proprietary development and through mergers, acquisitions, and licensing arrangements. First Foods Group has assembled a team of distinguished food service professionals with experience and success at the highest levels of the industry.
About CBD Unlimited, Inc.
CBD Unlimited, Inc. develops and distributes all-natural products from the cannabis sativa plant (hemp) with less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products; all with the shared purpose of therapeutic and pain relief. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving.
In order to provide conformity with federal and state mandates, the Company has incorporated the “Gorilla-Tek” platform into their business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that tracks high-risk, high-shrink regulated and restricted products maintained under federal/state/local compliance. The platform provides asset protection, inventory management, compliance and an “end of sale” technology integration. Along with that, Gorilla-Tek is tremendously efficient as it provides up-to-the-minute accounting and product details. Gorilla-Tek increases CBD Unlimited, Inc.’s productivity, while reducing costs for retailers and time for customers.
Safe Harbor Notice
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, contact:
CBD Unlimited, Inc.
Todd Davis
Chairman & CEO
Todd@cbdunlimited.com
480-595-6900
I echo your sentiments and am not worried about the tradeable float. With the majority of the float held by insiders, they are not going to be unloading their shares anywhere near these price levels.
In my opinion the reason to approve the share float is that Dye Capital has the option to invest another $32 million in the company to buy warrants which is the reason for the increased float. Right now, MDCL can't let Dye Capital purchase warrants without having the authorized float increased to accommodate this purchase when and if Dye Capital decides to do it. Also, all of these shares will be restricted so they won't hit the market anytime soon.
I just wanted to state my thoughts on where we are heading due to share price in the upcoming future. I have been trading the market for almost 40 years and now only invest in longer term investments (like MDCL). The days of flipping are over for me, too much free time consumption staring at the computer screen to make a few cents. I want to enjoy life before it passes me by. Besides you will never beat the computer algorithms trading the market anymore.
I enjoy posting on this board occasionally. I really like all of the posters here because they are informed and do their homework. I am looking forward to the day that we all can have a big party celebrating what could be one of the amazing stock runs ever.
MDCL is one of the most exciting holdings I have ever owned and believe it will be one (if not) the biggest money maker I have had. GLTA!
They will approve to increase the float since the board members already have a majority of the shares to vote in favor of it. Since some of these deals won’t close until 2020, they will not be violating the current float and the approval to increase the float will be done before that.