lazur
2 days ago
They've done such a great job of alienating investors, even a good ER will struggle to overcome that. There are other stocks, better managed companies, who didn't step in it and get moved to the Expert Market. So I would not expect anyone rushing back into this when it resumes trading, except flippers betting on a potential move when trading resumes and cashing out as soon as it does. IMHO, this rises only when someone makes an offer to buy it above where it's trading price. It's now a stock waiting on a hero, they've ruined any and all good will with investors.
Drugdoctor
1 week ago
Just kicking the can down the road!. It's a positive in the fact that they know damn well, the stock may not even be trading in February 2025, and they could then have to file bankruptcy because of over 30 million dollars in called loans for cash they don't have. So they have delayed this terrible scenario for at least 9 months. But, if the debtholder really wanted to help $SHWZ, they could have lowered the 15% interest rate down to at least 10%, And, of course, all of Dye's PREFERRED SHARES are still collecting those huge dividends which are eating up the profits of the company which could be used to pay down some of the debts. Dye could suspend the dividend payments until the company digs its way out of this debt hole if he wanted to, but NOOOOOOOOOOO. So anyone who invests in a company that now will have trading in its shares suspended for an indefinite period in the next day or two, based on this PR, will sadly see their cash become DEAD MONEY. Now, your thoughts?
Drugdoctor
1 week ago
DENVER, Colo., July 11, 2024 (GLOBE NEWSWIRE) -- Medicine Man Technologies, Inc., operating as Schwazze, (OTCPK: SHWZ) (Cboe CA: SHWZ) ("Schwazze" or the "Company"), today announced that it has finalized an agreement with two of its lenders to restructure its $15.0 million Altmore, LLC (“Altmore”) Loan Agreement and its $17.0 million Reynold Greenleaf & Associates LLC (“R. Greenleaf”) Promissory Note, both previously due in February 2025. This improves the Company's financial position by extending the maturities of both debt instruments to the end of 2025 and materially reducing amortization payments for the Altmore Loan Agreement.
lazur
2 weeks ago
How can anyone not be bearish? Looking at the trend in share price over time, the shrinking sales in CO and NM, the ongoing lack of action at the federal level on scheduling, recent pronouncements safe banking isn't on the near horizon, the additional shares being given to management as rewards for sinking the stock and eroding shareholder value, and these recent management missteps with the audits, I'd be interested in what the argument is for being bullish that isn't bull of a different variety.
damAcon1
2 weeks ago
Sorry DrugDoctor, not quite sure I understand. Will US holders that don't sell before the move will not be able to trade or are they just stuck praying the company regains compliance, and OTCQX status? Or is the Expert Market essentially the pink sheets, and as expected with pinks, this will subpenny? Also, do you think this is a ploy to take the company private?
Drugdoctor
2 weeks ago
Nah, the shares probably will still not be trading on 9/1/24, as they probably will still be in expert market trading purgatory as getting all the financials audited and caught up and getting back on the OTC will likely not happen until sometime in 2025, imo. Therefore FINRA will not authorize corporate actions like reverse splits until they are current again. But yes, it's a kick to the crotch. Going to be a rude awakening to those buying shares during the countdown to hell this week and next week, once they see just how messed up they did when they see those expert market trades happening below .05... What a shame...
Drugdoctor
2 weeks ago
Of course! They raised the quantity of shares they get, and they increased the authorized shares to allow them to give themselves more... Look at the form 4's...
sheesh... why would they buy shares when they can vote to give themselves even more free shares, and did!
https://www.sec.gov/cgi-bin/browse-edgar?company=medicine+man&match=starts-with&filenum=&State=&Country=&SIC=&myowner=exclude&action=getcompany
Now look at the increases in shares...
Proposal 3: An increase to Company’s 2017 Equity Incentive Plan.
The Company’s stockholders approved, the amendment to the Company’s 2017 Equity Incentive Plan to increase the number of shares of the Company’s Common Stock issuable under the Equity Plan from 18,500,000 to 22,200,000 shares, with the following vote:
For Against Abstain Broker non-votes
87,991,172 11,159,896 1,122,891 20,087,422
Proposal 4: An increase to Company’s total number of authorized shares of Company’s authorized Common Stock.
The Company’s stockholders approved, the amendment to the Company’s Articles of Incorporation to increase the total number of authorized shares of the Company’s authorized Common Stock from 250,000,000 to 275,000,000, with the following vote:
For Against Abstain Broker non-votes
103,687,053 15,491,472 1,182,856 0
https://www.sec.gov/ix?doc=/Archives/edgar/data/1622879/000110465924074324/tm2418115d1_8k.htm
lazur
3 weeks ago
This was in today's announcement - though if SHWZ parted ways with this group prior is it because SHWZ noticed something awry, or is it that the reputation of Bolgers as an auditor was shot? Who knows. But this was noted at the end of the press release:
As a result of the delayed filing, Schwazze has sought from, and is in communication with, the Ontario Securities Commission (“OSC”) concerning the availability of a management cease trade order (“MCTO”) in respect of the missed deadline for the Quarterly Report ended March 31, 2024. If an MCTO is granted, it is expected that the general investing public will continue to be able to trade in the Company's listed common shares, however, the Company's Named Executive Officers will not be able to trade in the Company's common shares. The Company confirms it will comply with the provisions of the alternative information guidelines under National Policy 12-203 – Management Cease Trade Orders for so long as an MCTO remains in effect.