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It appears year end tax loss selling has arrived
Amazing, we basically don’t trade for weeks then we run from $0.065 to $0.32 yesterday on over 1 million shares and now we hit a new low of $0.055
This stock can make you insane!
Amazing, we basically don’t trade for weeks then we run from $0.065 to $0.32 yesterday on over 1 million shares and now we hit a new low of $0.055
This stock can make you insane!
What a surprising and fun day. Over a million shares with no news.
Doc,
The stock doesn’t go up because the sector is in the toilet. I came to realize back in April (when I sold) that the politicians (especially the Dems) were full of crap and kept hanging the fruit of SAFE or legalization so they could get votes in this upcoming mid-terms. All the DEMS want is too let everyone out of prison but not make it legal in my opinion currently so they can use SAFE or legalization as a voting issue for future elections. Personally I believe passage of either is more likely if the Republicans got control of both sections of Congress than the Dems doing anything.
Why don’t insiders buy the stock on the open market? Because Dye and his equity firm already own the majority of shares and control where the company is heading. Without Dye and his equity investment in SHWZ the company would have gone belly-up a long time ago. Dye could propose a offer to take the company private and he controls enough shares that you can’t do anything to stop it. But Dye is in this because he is one of the best retail CEO’s on the planet and he knows that a big payout day will happen in the future, it is just a matter of when? He will never get that if he took the company private and he knows that in my opinion. Meanwhile he runs the company with great profit margins compared to other cannabis companies and one of the few that makes profits.
I still love this company and look forward to getting back in when I feel the time is right. I don’t believe now is that time and using my capital in other stocks. I know how frustrated you and the other long time shareholders are feeling currently but knowing when to hit the sell button is always the hardest decision to make.
Stop it Doc. I didn’t tell anyone to sell and I am not buying. I have always been respectful to you despite sometimes we didn’t agree on certain issues.
We both thought many of the same things in SHWZ for a long time and believed we were going much higher. I was trying to be respectful, honest and informative why you haven’t seen me on this chat board for a long time.
Hi guys, it has been a long time since I have posted on here. For those who know me, I have been a strong supporter of SHWZ from the beginning of the company and especially of Justin Dye's tenure. I believe this is the best managed cannabis company in the USA.
In spite of my belief in SHWZ, I sold my entire position back in April in the $2.05 - $2.10 level. Why did I sell, because the cannabis sector was in the crapper, and I continued to believe there was no end in sight and by the current price action of SHWZ and the entire sector, I was right. My thesis was purely chart analysis to my selling. I believe we were going to see legalization of cannabis earlier, but I was wrong. I do not see any possible turnaround in the cannabis sector until after the mid-term elections at best. I am more convinced that if the Republicans take both branches, we can see legalization coming before Democrats doing it. My mistrust of the politicians (both parties) is embedded in that they "talk the talk" but don't "walk the walk". I believe they will use this legalization talking point to get re-elected and not actually do it. If I see any possibility of legalization really happening, then I will jump back in. Currently, I feel my money is best invested in other plays.
My real purpose of my post is that this chat board was the best on the internet in my opinion. Now it is turning into vitriol against each other due to frustration. Everyone kept on topic and while we might have disagreed, we challenged each other with facts and statistics put out from the company and used the contrasting opinions to make smart decisions. Now it is painful to watch all the good people here turn on each other and having some posts deleted. It is always easy to buy a stock, the hardest part is to know when to sell especially when owning a great company like this one. I was very fortunate enough to have made a decent profit on my holdings when I sold. I believe SHWZ is a great value at this level, but I really believe you can see at least new lows before forming a strong bottom. It might be some extent of time before you will realize gains in SHWZ unless legalization happens sooner than later.
I am sorry to say that I am no longer a shareholder but for all of us it is about making money and making the decision that is best for each of us. On a valuation of cannabis stocks, SHWZ is one of the best in the sector, but I don't want to keep praying every day that legalization is coming tomorrow for me to make money. Everyone on this board are all good people but keep it classy because the wait is going to be longer than we think in my opinion. I wish all of you the best in your investments and will continue to monitor the chat board for your excellent analysis and thoughts to when I might jump back in.
The financials came out on 8/22. They lost -$.01 vs -$.04
The financials came out on 8/22. They lost -$.01 vs -$.04
I hope the sellers of the two trades today didn’t spend their $40 and $20 all in one place?….jeez….no wonder it is so hard to make money in this stock.
Yeah, but it dropped the same $0.06 cents yesterday on 1,100 shares. Percentage moves mean nothing in my opinion, only the price changes matter. If this upcoming proposal cannabis bill gets passed, this can be a home run because I believe THC chocolates will be coming in the future in addition to the current CBD chocolates.
Have you seen the bid for 1,000,000 shares?
First, their chocolates are outstanding and the best I have ever tasted. That being said, their business plan is the CBD side and it is a slow growing and positive business.
Where the real explosion potential is the future possibility of THC inside the chocolates. When cannabis becomes legal (hopefully in our lifetime), the demand for the THC infused products will blow off the charts. Currently the company is not taking on that sector due to the legality of cannabis products crossing state lines so the company can’t pursue this business line. Notice that in every financial report they specifically state they have no immediate plans for THC infused products but realize they have it in the future plans when cannabis legalization does get passed.
The cannabis sector reaches new lows every day so I believe that is the reason for the stock price depreciation. When you look up the corporate website of First Foods Group, they have numerous other cannabis stock companies prices scrolling across the screen. So the company views itself as a cannabis company despite the fact that CBD is not affected under Federal cannabis laws. That is why I believe the company’s future plans are for THC infused chocolates in the longer run.
Not looking or trading well buddy. It is going to be a much longer wait it appears. I really thought we had a hidden gem here.
Yesterday anyone could have sold 50,000 + shares at $.12 and they do nothing. Today the buyer doesn’t come back and now we have two sellers at $.12.
I have been trading a long time but these penny stocks are so frustrating. You don’t unload over 1/2 of a cent, no wonder why they can’t make money.
PUMA is only offering at $.1250 because he bought 5,000 at $.1205
Woohoo, first trade in 8 days!
Buxmaker, I am sorry to see you get out but understand your reasoning.
I always have one or two companies that I have a risky investment in because of the possible upside. The amazing thing is that insiders have been keeping this company afloat with their own money and taking shares. The question is why? They must see or realize something that has huge potential. Losing 500k a quarter is a numbers game (accounting write offs). How can a company lose that much money with only 6 employees and have limited expenses? Pad the expenses so when they turn the corner so it can improve the bottom line in the future.
The company still has a low share float and with any progress can be a huge mover. My personal thought is the payoff will be when cannabis becomes legal and then they can produce chocolates with THC ingredients in addition to the current CBD chocolates. The question is when will cannabis become legal?
When and if that happens, you can always jump back in. I am willing to wait it out longer and see what transpires. Wishing you all the best.
Agree, it was disappointing. I really thought we would see some progress in sales but now will have to wait until next filing. I would like to see who the NFL celebrity is?
True, but we never get a big buyer paying up at higher prices. We always get a seller taking it down to hit a big bid.
The only time we got aggressive buyers when we got the Costco news and that quickly faded a day or two later. We need some aggressive buyers and have others follow the lead to keep the price higher.
Well today confirmed someone wanted out of their position. We rarely large trades like this. Let’s hope when the earnings get posted, they will regret their decision to sell and we will be on the right side of things.
We just can’t catch a break. Strong market today and someone has to bail.
This being a very speculative company, so we know that there is some risk but with such a low stock price and float, worth a shot.
This company is so unknown but if they can come out with a nice earnings report or some new deal, we could rocket.
I am staying positive but sometimes it is hard.
The company just filed that the report is going to be late. Very unusual this report and the last report are late considering how consistent they have been historically filing on time. My personal thought is that the growth of the chocolate division is going well and it is taking more time to file.
We should get earnings out either tomorrow or Monday if they file on time. Let’s hope it is surprising good.
Well the board is basically 3 people - you, me and rodgranite.
I agree that would be great to see a nice earnings report and a press release on the new brand of endorsement of our mystery NFL player.
Someone is getting antsy and selling. Like I said, this will be either a huge payoff or basically nothing. The question is, do you have the courage to hold and wait it out? Any news press release and this could be a big runner because of the small float.
My thoughts are they are still working on a brand name and marketing plan before coming out with a big announcement.
NFL celebrity info on page F-27 in the bottom paragraph
I understand your concern about announcements but their Twitter following is still very small with only 35 followers. The Southeast Edibles division has only 49 followers so either press release wouldn’t get much notice.
This stock is either going to be feast or famine with us making making a ton of money or probably nothing. I am a big believer in this company and think that by the end of this year 2022 we will see significant progress and earnings. I am a consumer of the chocolates and think they are great.
With the low float, we could see $0.50 - $1.00 immediately with any positive news or an announcement of that NFL celebrity.
Buxmaker, you have to stop worrying about press releases. The company only has 6 employees and runs like a lean machine. Do you realize that press releases on every newswire run about $1,200 each? For a company on a tight budget, that is a lot of cash. They just keep plugging away on the main chocolate business which is really starting to grow. If they had posted their first profitable quarter, then maybe we would have seen a press release.
The last 2 press releases were about Amazon and Costco and my best guess the next press release will be about the endorsement deal with the NFL personality. Any press releases are usually to gain more exposure of their growing business.
This company could be the hidden gem of a lifetime with some patience.
Pretty interesting that the company signed a deal this month with a National Football League celebrity to create a brand. I am curious to see who it is.
10-k is out
https://www.otcmarkets.com/filing/html?id=15732623&guid=q7ewkWJiMH3AB3h
Chocolate revenues are growing nicely.
I am going to believe that something big is being planned. I just don't think that the delay would be due to just regular business because it shouldn't throw a monkey wrench into filing.
Just a wild guess that either revenues are much better, or some kind of new business venture is coming.
Fingers crossed for a nice surprise!
I believe they have to announce by next week but not sure.
Knife...politicians don't listen to voters anymore, so we won't see Republicans help pass anything. Polls have shown that approximately 75% of the population wants cannabis legalized and we get nothing done from either party. I am old school from back in the day we did want was best for the majority of the people, not the tiny percentage out of the mainstream.
Our country is so polarized at the present time that if one party wants passage of a bill, the other side won't do it. I understand why they do it because there is no trust but if we don't find a way to mend the fences, our country is going to be tarnished and never recover.
So, until that happens, smoking weed is the way to go and put your troubles aside...LOL
While the earnings were fantastic, we aren't going to move too much because the cannabis sector stinks. We only rallied a little more than a week ago because of the "false" rumors of legalization again. If we are to get any legalization passage, it will be closer to November when the Dems will get crushed in the polls so they will get serious in the hope to get voted back in. When the MSO goes above $25.00 and holds, then we are in for a major bull run in cannabis and SHWZ will have huge percentage gains.
Now on the plus side, we most likely should hold this price level above $2.00 because SHWZ is getting noticed about being one of the best cannabis companies on the planet.
Being on the NEO will not matter except that equity firms/funds can now buy it because the stock is on a major exchange. We will probably have to break the $3.00 level to get some serious looks from the big firms, but it appears some who don't have such self-stricter rules seem to be nibbling now.
I am hoping that the delay in filing is because of much better growth and sales and maybe some kind of new partnership with another company. I imagine sales are substantially better due to the relationship with Amazon and Costco. Since the company already makes chocolates for Tauriga Sciences under their brand name, it would be great to see some kind of additional business arrangement with another company.
Just my thoughts on the matter and some hopeful thinking.
Net Profit of $0.17 per share. No matter how you want to spin it, the company made money and there is no loss. SHWZ might just be the best run cannabis company on the planet, period. Dye is spectacular.
The Tilray CEO stated when cannabis became legalized, they would be looking to grab up MSO's in the US. You can be sure that SHWZ will be the number one takeover target of all the big players in the industry.
Don't be surprised sometime in the middle of 2022 to see SHWZ expand to another 1 or 2 states especially when the New Mexico recreational revenues really begin hitting the books.
Today you will only see idiots selling.
Great times ahead with this management team.
FIFG filed a NT-10K today stating earnings will be late.
Here is the link for the full press release
https://www.prnewswire.com/news-releases/schwazze-announces-fourth-quarter--full-year-2021-results-301515194.html
Earnings for 4th quarter
Profit of $0.13 vs loss of ($0.21)
Annual earnings
Profit of $0.17 vs loss of ($0.47)
Revenue Increases 352% to $108.4 Million Compared to $24.0 Million for the year-ended 2020
Net Income attributed to Common Shareholders of $7.2 Million Compared to
Net Loss of ($19.4) Million for year-ended 2020
Adjusted EBITDA of 29.7% Compared to (31.7%) for the year-ended 2020
MSO Status Achieved with New Mexico Entry – Continuing Aggressive Acquisition Plan
Completed Transformational $95 Million Raise
Guidance
Q4 2022 Projected Revenue Annualized Run Rate of Approximately $220 Million - $260 Million
Q4 2022 Projected Adjusted EBITDA Annualized Run Rate of Approximately $70 Million - $82 Million
Conference Call & Webcast Scheduled for Today – 4:30 pm ET
DENVER, March 31, 2022 /PRNewswire/ - Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) ("Schwazze" or the "Company"), today announced financial results for the fourth quarter ("Q4-2021") and for the year ended ("Y-E") December 31, 2021 ("Y-E 2021").
Y-E 2021 Financial Summary:
Revenues of $108.4 million grew 352% compared to $24.0 million Y-E 2020
Gross Margin of $49.4 million was 629% better than YE 2020 and 1,730 bps over Y-E 2020
Net Income Attributed to Common Shareholders was $7.2 million or $0.17 Basic Earnings per share compared to a Net Loss of ($19.4) million in 2020 or ($0.47) Basic Loss per share
Adjusted EBITDA of $32.2 million was 29.7% of revenue, compared to a loss of ($7.6) million Y-E 2020
Cash Flow from operations for Y-E 2021 was $57.3 million(1) compared to ($9.8) million Y-E 2020
Retail Sales were $73.7 million and when compared to last year Retail Sales were up 1,811%
Two year stacked IDs for same store sales(2) were 47.3% and one year IDs were 13.3%
Average basket size(2) for 2021 was $59.70 up 9.5% compared to Y-E 2020
Recorded customer visits(2) for 2021 totaled 1,375,589 up 3.8%, compared to Y-E 2020
Q4 2021 Financial Summary:
Revenues of $26.5 million grew 234% compared to $7.9 million in Q4 2020
Gross Margin of $12.1 million was 1,856% better than Q4 2020 and 3,798 bps over Q4 2020
Net Income Attributed to Common Shareholders was $5.5 million compared to a Net Loss of ($8.5) million for the same period last year
Adjusted EBITDA of $7.5 million for the quarter was 28.3% of revenue, compared to a loss of ($3.4) million for the same period last year
Cash Flow from operations for the quarter was $52.5 million(1) compared to ($3.5) million for the same period last year
Retail sales for the quarter were $19.6 million and were up 887% when compared to the same period last year
Two year stacked IDs for Q4 2021 compared to Q4 2019 for same store sales(2) were 40.4% and one year IDs(2) were 4.9% comparing Q4 2021 to Q4 2020
Average basket size(2) for Q4 2021 was $59.70 up 12.1% compared to Q4 2020
Recorded customer visits(2) for Q4 2021 totaled 329,357 down 7.2%, compared to Q4 2020
Accomplishments for Y-E 2021 and Q1 2022
Since April 2020, Schwazze has acquired or announced the planned acquisition of 33 cannabis dispensaries as well as seven cultivation facilities and two manufacturing assets in Colorado and New Mexico.
Q1 2022
Listed Common Shares of Schwazze onto the NEO Exchange
Signed Definitive Agreement to Acquire Assets of Urban Health & Wellness
Closed Acquisition of Brow 2 LLC Assets
Closed Acquisition of Emerald Fields
Added President of New Mexico Division
Closed New Mexico Acquisition, Becoming a Regionally Focused MSO
Added to Key Senior Leadership Team
Closed Acquisition of Drift Assets
2021
Closed Acquisition of Smoking Gun Assets
Announced Convertible Debt Raise
Announced Home Delivery Services
Closed Acquisition of Southern Colorado Growers Assets
Announced R&D Subsidiary, Schwazze BioSciences, LLC
Completed Acquisition of Final Seven Star Buds
"2021 was a transformational year for Schwazze as we became an MSO with a super-regional focus and a clear strategy to "go deep" in the states we are now operating in. Our private capital raise of $95 million provided momentum for our M&A and organic growth strategy. The Company's stock was listed on the NEO Exchange, earlier this month, providing an additional platform for liquidity and awareness of our stock for retail and institutional investors," stated Justin Dye, CEO of Schwazze. "To date, Schwazze has acquired or announced the acquisition of 33 dispensaries, of which 14 were closed in the first quarter of 2022. Revenue for the year was $108.4 million, up 352%, and our retail numbers were $73.7 million, up 1,811%. Our wholesale business continued to win customers and delivered 85% revenue growth. We continued our upward trend with an increase in average basket size of 9.5% and customer visits by 3.8% year over year. I am proud of our entire team, as Schwazze, once again outpaced the state of Colorado by 11.3%."
Y-E 2021 Revenue
Total revenue was $108.4 million for the year ended March 31, 2021, compared to $24.0 million during the same period in 2020 and represents an increase of approximately 352%. Retail sales were $73.7 million for 2021 from $3.9 million dollars the previous year representing a 1,811% increase driven primarily by acquisitions of dispensaries in Colorado. Wholesale operations revenue increased to $34.4 million from $18.6 million compared to the previous year representing an 85% increase, primarily driven by acquisition of cultivation facilities and increase in sales of distillate products to the market. Other sales were $0.3 million from $1.5 million the previous year, primarily driven by the pivoting away consulting sales.
Total cost of goods and services for the year totaled $59.1 million compared to $17.2 million during the same period in 2020, representing an increase of 243%, due to increased sales of products and growth through acquisition.
Gross profit increased to $49.4 million for the year compared to $6.8 million during the same period in 2020. Gross profit margin rose as a percentage of revenue from 28.2% to 45.5%, continued to be driven by the strength of the Star Buds acquisition, our consolidated purchasing approach, and the implementation of our retail playbook.
The Average basket size for 2021 was $59.70 up 9.5%, compared to 2020(2). Recorded customer visits totaled 1,375,589 up 3.8%, compared to 2020(2).
Total operating expenses were $38.9 million for the year compared to $29.7 million during the same period in 2020. The higher expenses are attributed to increased selling, general and administrative expenses, salaries, benefits, and related employment costs.
Net income attributed to common shareholders for the year was $7.2 million or $0.17 basic earnings per share, compared to a net loss of ($19.4) million or ($0.47) basic earnings per share for the same period last year.
Adjusted EBITDA for the year was $32.2 million representing 29.7% of revenue., compared to a loss of ($7.6) million for the same period last year. This is derived from Operating Income and adjusting one-time expenses, merger and acquisition and capital raising costs, non-cash related compensation costs, and depreciation and amortization. See the financial table for Adjusted EBITDA below adjustment for details.
For the year ended 2021, the Company generated a positive operating cash flow of $57.3 million(1) compared to a loss of ($9.8) million for the same period with $106.4 million in cash and cash equivalents for the year ended 2021.
Nancy Huber, CFO for Schwazze commented, "we've delivered an excellent year with the continued generation of operating cash flows from our acquired businesses. With funds from operations as well as our recent raise, we will continue to deploy capital in new acquisitions and improve our stores, manufacturing, and cultivation operations. We expect to deploy approximately $15 million for capital improvements in our businesses this year."
2022 Guidance
The Company is providing guidance for a fourth-quarter 2022 ("Q4 2022") annualized run rate, which excludes transactions that are announced but not closed. Q4 2022 revenue annualized run rate is projected to be approximately $220 Million - $260 Million, and the projected Q4 2022 adjusted EBITDA annualized run rate is projected to be from $70 million to $82 million.
NOTES:
(1)
$34.9 million of this year's operating cash flow was derived from the derivative liability associated with the convertible debt issued in December.
(2)
Schwazze did not own all the assets and entities in part of 2021, 2020 and 2019 and is using unaudited numbers for this comparison.
Adjusted EBITDA represents income (loss) from operations, as reported, before tax, adjusted to exclude non-recurring items, other non-cash items, including stock-based compensation expense, depreciation, and amortization, and further adjusted to remove acquisition and capital raise related costs, and other one-time expenses, such as severance, retention, and employee relocation. The Company uses adjusted EBITDA as it believes it better explains the results of its core business. The Company has not reconciled guidance for adjusted EBITDA to the corresponding GAAP financial measure because it cannot provide guidance for the various reconciling items. The Company is unable to provide guidance for these reconciling items because it cannot determine their probable significance, as certain items are outside of its control and cannot be reasonably predicted. Accordingly, a reconciliation to the corresponding GAAP financial measure is not available without unreasonable effort.
Webcast – March 31, 2022 – 4:30 ET
Investors and stakeholders may participate in the conference call by dialing 416 764 8650 or by dialing North American toll free 888-664-6383 or by listening to the webcast from the Company's website at https://ir.schwazze.com. The webcast will be available on the Company's website and on replay until April 7, 2022 and accessed by dialing 888-390-0541 / 040354#.
Following their prepared remarks, Chief Executive Officer, Justin Dye and Chief Financial Officer, Nancy Huber will answer investor questions. Investors may submit questions in advance or during the conference call through the weblink: https://produceredition.webcasts.com/starthere.jsp?ei=1531076&tp_key=128c98ab58 This weblink has been posted to the Company's website and will be archived on the website. All Company SEC filings can also be accessed on the Company website at https://ir.schwazze.com/sec-filings
About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company's leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze's former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.
Forward-Looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "plan," "will," "may," "continue," "predicts," or similar words. Forward-looking statements include the guidance provided regarding the Company's Q4 2022 performance and annual capital spending. Forward-looking statements are not guarantees of future events or 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 events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, (x) the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and (xii) our ability to achieve the target metrics, including our annualized revenue and EBIDTA run rates set out in our Q4 2022 guidance. 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 except as required by law.
MEDICINE MAN TECHNOLOGIES, INC.
CONDENSED BALANCE SHEETS
For the Years Ended December 31, 2021 and 2020
Expressed in U.S. Dollars