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Medicine Man Technologies Inc (QX)

Medicine Man Technologies Inc (QX) (SHWZ)

0.42
-0.01
( -2.33% )
Updated: 14:40:59

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StevenRisk StevenRisk 3 days ago
Sinking ship. Playbook not working. Management is jumping ship. With management holding lots of preferred the common shareholders are looking more n more like toast while the preferred shareholders take everything. To busy blowing their horns with a complete failure to operate the day/day operations.
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In Plain Sight In Plain Sight 3 days ago
Updated company presentation: https://ir.schwazze.com/static-files/8bb5e456-6f27-41a4-92d9-4a93d2c95b0b
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Chichus Chichus 6 days ago
https://www.benzinga.com/markets/cannabis/24/06/39317453/colorados-cannabis-sales-figures-paint-dismal-picture-of-a-pioneering-industry-heres-what-went-w
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$5.95akadawson-m $5.95akadawson-m 1 week ago
If I may opine here. I am from another MJ board with the same exact problems - low share price for the pint-sized mj company and all hinging on when
the FED makes a move. Hopefully this will come back to a decent sp.
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In Plain Sight In Plain Sight 1 week ago
And elsewhere in NM: #35! A long ways from belly up it seems as some seemly opine here.

https://ir.schwazze.com/news-releases/news-release-details/schwazze-announces-grand-opening-its-35th-new-mexico-dispensary
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lazur lazur 1 week ago
Overview of CO cannabis market's ugly picture. A few interesting things, SHWZ is nowhere in the article. Did they just decline or are they so off the radar even in CO no journalists bother to knock on the door? Also suggests the regional strategy of SHWZ is hurting them when focused on states that are struggling. Maybe time to reconsider the regional push perhaps?
https://finance.yahoo.com/news/colorado-booming-weed-market-went-110000414.html
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lazur lazur 2 weeks ago
"Waiting on the Govt like all of us." I was thinking we might have to turn the lights out here... I suppose MJ legislation is not as high a priority as non-legislative posturing like trying to embarrass Fauci and failing miserably all these years later, or questioning college presidents about campus protests, or maybe another Hunter Biden hearing, or Mayorkas impeachment, or Twitter, Til Tok and China, or maybe another Benghazi hearing since who doesn't want to hear Hilary again, or cogent discussions about what constitutes a bleached blonde, bad built, beach body or not. We will be waiting a long time for the congressional clown car to go in any direction besides every direction and nowhere at once...
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Chichus Chichus 2 weeks ago
https://crop.rld.nm.gov/sales.html
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In Plain Sight In Plain Sight 2 weeks ago
You wanted overhead reduction in multiple posts and want a PR too? How about a sticky gold star on your posts? Integrated supply chain VP also gone. Your criticisms no longer make that much economic common sense. I get it, you be pissed, Steven. I can only surmise they are looking to refi and waiting on the govt like all of us while making the best of what they have.
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StevenRisk StevenRisk 2 weeks ago
51.2 Mil sales for May. Dispensary count 1,007 in N M.

You would think management could start improving sales with less Dispensaries 8n N M.

You would think we see something from management on the departure of Todd.
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In Plain Sight In Plain Sight 2 weeks ago
Departure per the website's leadership page: Todd Williams, EVP, M&A and Real Estate. Portends a retail and wholesale focus within the existing footprint. Refi of debt and improve efficiency while maintaining or improving upon their 8% market share of CO and NM would seem to be the immediate focus.
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Crabman1 Crabman1 4 weeks ago
Someone is unloading 161k shares traded.
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StevenRisk StevenRisk 4 weeks ago
Selling continues in rhe 40's and not one insider buy. Why? They have the playbook.
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lazur lazur 1 month ago
He makes a compelling argument. Besides culling management to reduce executive pay, or some surprise early rescheduling where the tax advantages would help the bottomline, this is the path SHWZ is on and others in this space. Since neither of those two previously mentioned scenarios will occur, that leaves restructuring their debt (under what would be less favorable terms than what could have occurred a few years ago), or someone buying them at cut rate prices to save them from default. Or selling more and more shares to raise cash at diminishing returns as they dilute. Or default. Out of all those possibilities, only a buyout would do anything to help shareholders, but of course, not as much as we'd hoped in the past. Am I missing any other options?
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StevenRisk StevenRisk 1 month ago
Lots of the negatives is self inflicted from arrogant management. Yes some are industry wide issues. Of notr, so far not 1 insider purchase since earnings at these Rock bottom pps. That alone is very telling. Get rid of Dye and that alone is a savings of $750k. per year alleviating the micromanagement which imo has negatively impacted the company. The executive pay is atrocious when comparing to the performance.

Straight talk purely managed as a private company with no real regard to shareholders.
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Chichus Chichus 1 month ago
https://michaellegler.substack.com/p/will-schwazze-default?r=3o8xbg&utm_campaign=post&utm_medium=web&triedRedirect=true
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lazur lazur 1 month ago
To play the pop on the actual passing, yes. I agree. But it's a guess how long that bet will be tied up, and if drags on for a few months, the pop will be from below 50 at that point. Either way, as soon as it pops, sell, since the stock will immediately drift back down again imo.
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Drugdoctor Drugdoctor 1 month ago
I dunno, it recently popped up into the .80s on the rescheduling announcement, then fell back with the crowd. Still could be a good entry point in the .50s imo
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lazur lazur 1 month ago
It's just another announcement in a long line of announcements that haven't yet borne fruit. Any investor in the MJ space would be a fool to think it's a done deal, or that it will happen over the short term based on past history. Public comment will occur, more than likely the hand will be forced for a public hearing on this, the usual gaggle of idiotic geese will come out and push against this rescheduling. Dithering and deferring will occur. Political posturing for constituents around protecting them from the evils of drug culture will occur during an election year for those politicians who view that as a winning position in conservative states. I fully expect delays, a slog drawn out on this. Pot investors are now all from Missouri, show me it's actually done and we'll make a decision to buy then. And with the recent ER and SHWZ's near invisibility in the MJ space, even when/if rescheduling occurs, we'll lag the other companies in any pop that occurs. Nothing I heard on the earnings call addressed that point for shareholders, in fact, they stated the opposite, they are investing to do a slower fuller buildout of the company and its approach to serving customers in a manner that will over the short term limit earnings, margins, and forestall any meaningful stock appreciation. That's what I read between the lines. They are fully a long term investment now was the message, not short term.
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Drugdoctor Drugdoctor 1 month ago
Interesting how today's move to Schedule III announcement caused such a short term pop. I would think that would allow operators access to banking and remove IRS 280 restrictions. Should be great for the industry if this happens...
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lazur lazur 1 month ago
At this stage I'd be happy if someone bought them for $2 and each quarter that seems more and more like a pipe dream... Read the transcript of the call. More investment to build out a better customer experience, potentially good for the longterm but a short term hit to profitability while that occurs. Quoting numbers like 600+ cannabis stores in CO gets little pity from me, since the guy quoting that comes from a supermarket background and there are over 500 supermarkets in CO. So isn't that level of competition the playing field and one he's familiar with? Lower margin, higher operating costs, ramp up of stores seems slowing, and the need to sunset stores throws shade on their playbook and ability to ID and improve already well-performing stores. Wholesale, medical showing some promise. Clearly stated they are focusing on building the business and that will not lead to share growth in the short term.
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Gee4030 Gee4030 1 month ago
Comparing Trulieve to schwazze is laughable…..I’ll leave it at that
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StevenRisk StevenRisk 1 month ago
My take is a little different even with sales at the retail level. Don't you all think with these pissed off employees and really the worst negative reviews ever these budtenders behind the counter are happy? The attitude would surely be obvious. Point being when they bought Starbuds these reviews were off the chart. You pay top dollar and overpaid for many of these dispensaries and now relocating. Again point taken the overall amount of dispensaries is not much different from 2 years ago. Exactly what happened to store loyalty after Shwz? You buy a dispensary and close it down for 3 months exactly what does the customer do? Wait 3 months for your meds? No Fahey start looking around. LOL first we renovate them and now 2 years later move them. Definitely not a formula for success imo. Until they stop looking for excuses this co. is doomed imo. Time to get that liaison for management and low level employee and work as a team!
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Drugdoctor Drugdoctor 1 month ago
So I believe earnings have been "baked into" the price now. If you look at $TCNNF - sporting a $11.92 price - and they lost $23,000,000.00 in the first quarter of 2024, I believe that management can turn this around. I've been predicting closing of underperforming locations for about a year now, and I believe they are finally going to do it. After years of rapid growth, it's time to focus on sustained profitability, and it appears they know this. So, 2.3 million in profits for the rest of the year with over $160 million in revenues, should be entirely possible for Schwazze. Here's a link to Trulieve's losses.. https://finance.yahoo.com/news/trulieve-cannabis-corp-tcnnf-q1-172244930.html
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damAcon1 damAcon1 1 month ago
Q&A had good questions asked...the rest of the call was not exactly comforting. With the exception of the company expecting S3 news, the 34th NM store opened and new product factors expected over the next quarters, even their positive takeaways were industry negative -- like 'shakeout' continues. I think they said 72 stores closed. In addition, SHWZ is expecting negative growth as they are planning to close 3 underperforming stores in CO -- but will be reallocate the licenses. I guess my positive takeaway continues to be the company's ability to have Tier1 Gross Profit Margins while operating in two of the most competitive markets -- where CO is seeing $750/lbs of flower -- while Tier1s cry cost compression and competition in markets 3+ times that rate. So basically, if SHWZ can outlast, until the 'chasing limited markets/highest revenue generating' investor excitement wears off and the US industry playing field levels (sarcasm), that is when the company will start shine.

https://www.greenmarketreport.com/schwazze-has-the-blahs/
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Drugdoctor Drugdoctor 1 month ago
Yea, the financials came in about where I also expected them to be, and this has to be concerning...


Income (loss) from Operations: Loss of $2.7 million in Q1 2024, compared to income of $5.6 million in Q1 2023.

Net Loss: $16.1 million in Q1 2024, compared to net income of $1.7 million in Q1 2023.

We all expected the charges, and hopefully they will be significantly reduced in Q2 (the current quarter) burt the loss from operations will need to be fixed, as it will drain the cash reserves to continue those kinds of losses. I was playing in a golf tourney today, so I didn't listen to the conference call, probably listen to the replay tomorrow, but I hope they have a plan...
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damAcon1 damAcon1 1 month ago
Good call on the (significant) loss! OUCH!
SG&A along with Salaries are almost $1M more than the gross profit!

Basic earnings loss per share (0.24)
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StevenRisk StevenRisk 1 month ago
Let's see how they address the issues today. I see more write - offs with low sales than q4.. Exactly why do we have 2 CEO'S? Really wasn't Dye going to promote and get the word put? With everything known the loss is going to be in excess of $15 mil. My hope is still in the new CEO.
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lazur lazur 1 month ago
I would like the earnings call to directly address what the company will do for shareholder value. Increasing the share count will not do that. Executive compensation has not achieved that. Excuses related to challenges in CO and NM do not do that. Twiddling thumbs while waiting, hoping, wishing rescheduling will occur soon won't do that. What is the plan to maximize and appreciate shareholder value in line with other companies in this space over recent months, all suffering similar challenges? SHWZ needs to provide a compelling reason for shareholders to stay and new ones to purchase the stock. And honestly, I'm at a loss as to what that could be except them saying "we think we hit the bottom." Not exactly a compelling argument. And SHWZ who? It would be nice if they made half an attempt at letting the world know they exist.
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Drugdoctor Drugdoctor 1 month ago
That's a bit too negative, imo, lol. Anyway, earnings have to be priced in at this level, and I'm picking up some shares down here, as I still believe their financial position is ok. Hollering bankruptcy is nonsense, imo. And Dye will not step down, he owns most of the company... GLTY
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StevenRisk StevenRisk 1 month ago
Pretty much my thoughts as I've expressed multiple times. Honestly some heads need to roll and also IMO Dyeneeds to step down. These lawsuits are a direct result from inept management from the store level all the way to the top and nothing but the ostrich head in the sand and just plain arrogant self righteous people. Stealing tips from low level employees.

Certainly management will focus on better sales for the last 2 months and things are getting so much better. The recent DEA on going descheduling. We can't talk about all the crap going on as it is in talks and confidentiality per lawyers Yada Yada. This is so pathetic and unfortunately you are suppose to lead from the top., leadership is leading people and developers them which should be a management function. Instead raising bunch wants to drive them like cattle.

How far is bankruptcy away? Something worth considering. Even if they don't happen the dilution will. Must be time to reprise the options as they go worthless. Oh wait just reprise them and reissue them after all they deserve it for the fabulous job they have done
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damAcon1 damAcon1 1 month ago
Sloppy MJUS rebalance.
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Crabman1 Crabman1 1 month ago
That was a brutal day. Let’s see what tomorrow brings.
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Drugdoctor Drugdoctor 1 month ago
Someone's unloading a ton before earnings. New 52 week low, and they are whacking all bids. Not looking good for tomorrow's earnings report.
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StevenRisk StevenRisk 1 month ago
Hope someone asks the new CEO what has been implemented to address the recent settled lawsuit. This was the most troubling news yet . Properly addressed and rectified their is hope especially since a bottom appears in Co. sales. It would be nice to hear wholesale sales have increased since q4 as retail sales probably bombed.
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Chichus Chichus 1 month ago
Shakeout year?
https://www.greenmarketreport.com/colorado-marijuana-sales-rebound-by-11-in-march-with-april-looking-even-better/
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GoldRu$$H GoldRu$$H 1 month ago
Ancillary profit just waiting to happen.

I suppose the "no more than 20% revenue" limits are placed by grocery/convenient store/gas station/restaurant industries lobbyist's.
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Drugdoctor Drugdoctor 1 month ago
And of course, let's not forget the "munchies"
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GoldRu$$H GoldRu$$H 1 month ago
This makes sense as there are many snack options in any liquor store I have been in.
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Chichus Chichus 1 month ago
https://mjbizdaily.com/colorado-lawmakers-approve-bill-allowing-cannabis-retailers-to-sell-food/
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damAcon1 damAcon1 1 month ago
A jump in sales...but still concerning when comparing the past 3 months to previous years. The total sales numbers for each month are still lower than prior years...dating all the way back to 2016/2017. I think what might save SHWZ in Q1-24 is that the average market rates this year are up in CO by almost $100/lb for flower. I am just not sure if they will be up enough to offset the challenges in NM -- not to mention the potential impact of US Customs seizures in NM, knowing SHWZ was one of the companies mentioned in the article. I do think it will be hard for SHWZ to match, or beat, the positive net income that they posted in Q1-23...but I don't think the Q will be as bad as the 0.16 loss analysts are expecting (although I have been extremely busy ay work to concern myself with the company's day-to-day).
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GoldRu$$H GoldRu$$H 1 month ago
No SHWZ investor should be happy about the recent class action settlement to allegations, of wage theft, in a tip stealing scheme by some rogue SHWZ store manager(s). The recent resignation (sacking) of their CEO Nirup Krishnamurthy may have been a result of not just sagging sales, but his ineffectuality in making sure fair and legal employment practices filtered all the way down to the dispensary level.

https://theclassactionblog.com/preliminary-approval-of-settlement-in-cannabis-dispensary-employee-class-action-lawsuit/

With Cannabis as an emerging market, there is a higher incidence of class action litigation by employees as well as litigation in general. Some of the largest MSOs in the industry have been impacted by the very same issues. I have faith the new CEO, Mr. Forrest Hoffmaster will help the company pivot from this unfortunate practice.

https://www.cannabisbusinessexecutive.com/2021/07/class-actions-increasingly-targeting-cannabis-companies/

https://mjbizdaily.com/key-hearing-begins-in-600-million-lawsuit-against-marijuana-mso-acreage/

https://mjbizdaily.com/marijuana-mso-curaleaf-faces-class-action-claim-over-mislabeled-drops/

https://mjbizdaily.com/class-action-lawsuits-on-rise-against-public-cannabis-companies/

https://mjbizdaily.com/how-marijuana-companies-can-avoid-class-action-lawsuits/

https://www.miaminewtimes.com/news/floridas-trulieve-sued-by-ex-employee-over-race-discrimination-claims-18911240

https://news.bloomberglaw.com/daily-labor-report/curaleaf-cannabis-sued-by-dispensary-employee-for-stealing-tips

https://www.classaction.org/news/lawsuit-claims-cresco-labs-cannabis-workers-owed-wages-for-time-spent-putting-on-removing-safety-equipment

https://www.benzinga.com/markets/cannabis/22/09/29061820/green-thumb-industries-must-respond-to-justice-after-being-accused-of-age-and-sex-discrimination

https://chicago.suntimes.com/cannabis/2021/3/8/22320364/verano-harvest-nature-wellness-frontier-nicholas-nielsen-weed-rico-pot-cannabis
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Marillionaire Marillionaire 1 month ago
I spoke with a former top small-cap manager who is currently managing his own money. He said, "It's all about free cash flow. Once 280E goes away, I'm calling all my institutional relationships and saying it's time. This goes from a trade, to a 3-5 year hold and there's an…— Jesse Redmond (@jesseredmond) May 9, 2024
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Chichus Chichus 1 month ago
A jump in March sales in Colorado, as usual
https://docs.google.com/spreadsheets/d/1wE7Z_1q2zxL7-kP0AqlUvL731U3Aui1l/edit#gid=1281327848
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StevenRisk StevenRisk 1 month ago
Management sucks. They ignore problems until sued. They are currently at all time lows while ALL MSO"a are up 390 % off of lows. They will probably reset options as they expire. Absolutely no accountability. The 24 million shares will mostly end up in management's hands free. There only hope is the interim CEO sees thru the BS They continue to spew. Looking for another huge loss!

Dye's answer if you don't like it sell.
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damAcon1 damAcon1 1 month ago
Oh boy...this cant be good. I put in a low order thinking it probably wouldn't hit. Hit shortly after placing it.
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In Plain Sight In Plain Sight 1 month ago
Just found this on their website, at least an update. Seems the 63-store count is plodding along and holding 8% of the TAM in both CO and NM and sales trending up from the dip in Q2 last year as read: https://ir.schwazze.com/static-files/8bb5e456-6f27-41a4-92d9-4a93d2c95b0b

Elsewhere hiring highlights a Treasury monitor and of course they have some 25MM additional shares to be authorized for corporate purposes as part of the '24 Proxy. BF Borgers (previous CPA firm now has severe problems with SEC for using cut and paste past data as a basis for reporting non-current as what was supposed to be at another company) is out and now Baker-Tilly in with current BoD staying put.
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Chichus Chichus 1 month ago
Valuation upside from 280E removal (Zuanic & Associates) πŸ”₯πŸ”₯πŸ”₯ $MSOS pic.twitter.com/mX5hUc5pOP— WeedStreet420 (@WeedStreet420) May 6, 2024
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olivernoyes olivernoyes 2 months ago
I wonder what % of this was confiscated by Customs and Border Patrol?
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StevenRisk StevenRisk 2 months ago
Down alittle from March but 1 less day. Overall a very good month. Question being is SHwz sales bottomed there. If someone could pull SHWZ numbers from the data that would be great. I still expect a large q1 loss.
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