damAcon1
5 hours 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
4 days 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
5 days 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 Companyโs 2017 Equity Incentive Plan.
The Companyโs stockholders approved, the amendment to the Companyโs 2017 Equity Incentive Plan to increase the number of shares of the Companyโs 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 Companyโs total number of authorized shares of Companyโs authorized Common Stock.
The Companyโs stockholders approved, the amendment to the Companyโs Articles of Incorporation to increase the total number of authorized shares of the Companyโs 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
6 days 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 (โOSCโ) concerning the availability of a management cease trade order (โMCTOโ) 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 โ Management Cease Trade Orders for so long as an MCTO remains in effect.
In Plain Sight
2 weeks ago
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.
lazur
1 month 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...