Medicine Man Technologies Inc (SHWZ)

[In Plain Sight]

Just concluded a 1x1 with JD via Noble. Thoughtful insights from a view at 50,000':

He sees Schedule 3 as a reality prior to the elections and sees a generation of free cash flow as a result of 280(e) going away with SG&A write-offs as any normal business may apply. Will create substantial roughly 4x increased cash flow if I read the chart correctly.

In turn, he does not foresee SAFE(R) banking as happening in Congress at present.

Scoffed at the notion of any default, technical nor otherwise. His investment too great.

They are exploring how to best deal with notes coming due next year and exploring available options whether taken out of hide or by extension.

From what he said, TW's absence is more temporary with a slowdown in current M&A activity and some well needed time with family. From the inference, I suspect TW will be back (never really left)

Although many competitor's stores in CO and NM are closing, they are evaluating each location as an individual opportunity as they present.

In NM, the rampant cheating (product brought into NM from out of State, namely CA, CO, and OK) is now a felony offense in NM and is resulting in a number of prosecutions and closures. The NM closure rate has exceeded the opening rate for competitor dispensaries/licenses and is likely to continue for some time.

They have a ton of competition in Albuquerque, but JD insists they will be the largest and best with greater selection and tiered pricing (which JD claims they now have a distinct advantage) and customer loyalty as their continued key drivers.

Their investment last Q which they took away some otherwise available cash is beginning to ramp with incremental revs and he foresees those rev increases continuing for the next 7-8 Q's (I believe this was CapEx for ERP/mfg/grow op improvements)

He stated he's in it for the longer game and, yes, this team plans to win.