Medicine Man Technologies Inc (CE) (SHWZ) 銘柄情報

Really hard to actually believe all the boasting they done about the best management team assembled ever and it comes to this. Also they were sued by employees and paid I believe $500k. You lead from the top down and with accounting issues along with employee problems Dye should have been gone. Micromanaging in the background and this is the mess you end up with. No excuses and to hire the last accounting with no ability to get audited and now you hire a new firm at $100k a month. WTH is he doing there? Now they basically lost the dispensaries etc in New Mexico. Why they haven't been sued is beyond me. Gross negligence probably an understatement!

Well, they need to hire an auditor that can actually deliver SEC approvable financials.

https://www.linkedin.com/posts/bobfinley_cannabis-cannabisinvestors-cannabisceos-activity-7317692541980614656-ms4O

https://flgpartners.com/partner/bob-finley-cfo/

https://ir.schwazze.com/node/11286/html

https://ir.schwazze.com/node/11286/html

Yep, the expert market is not a market.

Makes no sense. A range of .0001 to .07

Yea, I think that's why Nirup was let go so fast!

Not a good sign that the crack team of leaders had no idea that their financials were in such a total mess? It should be really hard to hide this level of disaster from the leaders of the company that sign off on the financials if they are remotely paying attention.

Maybe - Maybe not - as the fact they are still filing brings hope. After reading that, it's obvious what a mess their financials are in because of the previous accounting firm. However, this could be a sign of hope...

PART IV – OTHER INFORMATION
(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
? [X] No

a long-winded epitaph.

PART III – NARRATIVE
The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or
expense
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or
Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or
the subject quarterly report or transition report of Form 10-Q, or subject distribution report on Form 10-D, or portion thereof,
will be filed on or before the fifth calendar day following the prescribed due date; and
The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be
filed within the prescribed time period.
Medicine Man Technologies, Inc. (the “Company”) is unable to file its Annual Report on Form 10-K for the period ended December 31, 2024 (the “2024
Form 10-K”) on or prior to March 31, 2025, without unreasonable effort and expense for the reasons stated below.
As previously disclosed, the ongoing impact of the May 3, 2024, U.S. Securities Exchange Commission (“SEC”) order (the “SEC Order”) against B.F.
Borgers CPA PC and Benjamin F. Borgers (individually and together, “Borgers”), pursuant to which the SEC suspended Borgers from appearing or
practicing before the SEC as an accountant, has been significantly challenging for the Company. Borgers was the Company’s independent auditor for the
fiscal year ending December 31, 2023, during which time Borgers reviewed Company financial statements and performed reviews of interim financial
statements. As stated in the SEC Order, Form 10-Q filings on or after the date of the SEC Order may not present financial information that has been
reviewed by Borgers. Each quarterly and annual period presented in Form 10-Q and Form 10-K filings on or after the date of the SEC Order must be
reviewed by a qualified, independent, PCAOB-registered public accountant that is permitted to appear or practice before the Commission.
In April 2024, the Company engaged Baker Tilly to provide a re-audit of the Company’s year-end December 31, 2023 financial statements as filed on the
Annual Report on Form 10-K and the interim quarterly statement for the three-months ending March 31, 2023, as filed in the Quarterly Report on Form 10
Q, the interim quarterly statement for the six-months ending June 30, 2023, as filed in the Quarterly Report on Form 10-Q, and the interim quarterly
statement for the nine-months ending September 30, 2023, as filed in the Quarterly Report on Form 10-Q. The extent of the SEC Order’s impact has been
significant on the Company’s financial statements as of and for the fiscal quarters ending March 31, 2024, June 30, 2024, September 30, 2024, and the
year-end December 31, 2024 to be included in the Quarterly Report filed on Form 10-Q and its Annual Report filed on Form 10-K, and its financial
statements as of and for the year ended December 31, 2023 included in its Annual Report on Form 10-K.
On November 29, 2024, following discussions with Baker Tilly and Company management, the Company’s Audit Committee determined that the
previously issued audited consolidated financial statements for the fiscal years ended December 31, 2022, and December 31, 2023, as filed in the Annual
Report on Form 10-K (the “2023 Form 10-K”) audited by Borgers, along with the unaudited condensed consolidated financial statements and related notes
for the periods ended March 31, 2023, June 30, 2023, and September 30, 2023 (collectively, the “Subject Periods”), require restatement (the
“Restatement”). This determination was made due to the identification of certain accounting errors that require corrections, primarily in technical
accounting areas. The Company has concluded that these corrections are material, and accordingly, the previously issued financial statements for the
Subject Periods should no longer be relied upon.
Because of the impact of the SEC Order and the Restatement, the Company has been unable to file (i) its Quarterly Report on Form 10-Q for the three
months ending March 31, 2024 (the “Q1 2024 Form 10-Q”); (ii) its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 (the “Q2
2024 Form 10-Q”); and (iii) its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the “Q3 2024 Form 10-Q” and together
with the Q1 2024 Form 10-Q, Q2 2024 Form 10-Q, and Q3 2024 Form 10-Q, the “Historical Late Filings.”). Accordingly, the Company has also not yet
filed its 2024 Form 10-K

https://ir.schwazze.com/node/11281/html

Now we know what the plan to "Go Deep" really meant, go deep in debt and never come back.

https://mjbizdaily.com/marijuana-operator-schwazze-defaults-on-restructured-debt/

In this case no news is bad news.

Looks like the fat lady is on the stage. This is the end which is very tell of management. Let the lawsuits begin!

https://ir.schwazze.com/node/11276/html

https://ir.schwazze.com/node/11276/html

I'm a longtime investor in this company, loyal and was full of hope. Justin Dye you need to let us know when we can expect the auditing to be completed and when you expect us to be back on track. You have our emails and phone numbers. The silence is killing me. You have not posted an earnings report date, so we are not in the quiet period as far ascI can tell.

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I still have like 100 shares and I looked at my fidelity account and saw a .39 price and up 1000% on the portfolio view. But Yahoo is even better, showing it up 109,900% at .0011 - well that would have been a fun play to make with even a $1000 investment!

Bout sums it up! Really would like management to come clean with why this is taking so long .

Correct. I don't see any bright spots in pot as a whole. Most companies are debt ridden, barely hanging on, getting taxed out the wazoo, no longer any discussions of even advancing fed level changes to assist them. SHWZ is in a hole of their own making, with a price of 2 cents which of course is mythical - who knows what the price will be if they ever get their finances in order, and again, why is it taking so long? I haven't been paying much attention here since I got out on the slide, but not early enough to escape a haircut. I just don't see any reason beyond pure gambling to invest in almost any stock in the sector, certainly not one shooting its own foot as SHWZ has been doing on top of the larger sector challenges. Good luck to any of those sticking it out through this soap opera.

Certainly not a positive article for SHWZ. I think while it is bleak not sure totally as negative as presented. Depending on where your at on the food chain many debt holders would be screwed imo. The assets SHWZ hold are not worth even close to what they paid at currently without changes in the law. I think debt holders and management need to move forward to solutions and not so much to dilution nor forced liquidation. While stakeholders would definitely be worthless most bondholders would lose as assets would not even come close to covering debt. Apparently bk is not an option. Of course IMO.

Certainly not a positive article for SHWZ. I think while it is bleak not sure totally as negative as presented. Depending on where your at on the food chain many debt holders would be screwed imo. The assets SHWZ hold are not worth even close to what they paid at currently without changes in the law. I think debt holders and management need to move forward to solutions and not so much to dilution nor forced liquidation. While stakeholders would definitely be worthless most bondholders would lose as assets would not even come close to covering debt. Apparently bk is not an option. Of course IMO.

https://finance.yahoo.com/news/cannabis-industry-faces-debt-reckoning-153255385.html

Same here, I try not to look at them, but it's hard. This whole industry shot itself in the foot by overhyping things and WAY overbuilding in anticipation of this huge TAM, not recognizing that we still live in a world where a bunch of crusty old white guys, who are still hung up on reefer madness, hold the keys to unlocking the industry. Meanwhile you have good ole boy Mitch McConnell (for years) not lifting a finger to fix the farm bill loophole. I am sure back in Kentucky they are growing hemp to beat the band, bottling it up, and selling it at every corner gas station.

I see the same thing happening again right now with this whole AI hype cycle. These companies are spending BILLIONS of dollars in a race to build out these enormous data centers all over the country, and then some Chinese tech bros solve the problem in their basement with a cheaper faster version over the weekend. Boom!! The entire industry now has to re-think itself.

I try not to look at it...and really the entire industry, anymore. Annoyed that the constant bullishness keeps happening regardless of reality over the last 8 years since I started investing in it...some "analysts" huh?! At this point wake me up when something at the federal level happens, and until then, this industry will remain a house-of-cards, insider enrichment scheme.

That's one way to look at it... When we saw .000001 though, it was very discouraging...

Thx for responce. I e-mailed them and never heard a word. Atleast a glimmer of hope. Again thx.

Honestly, as long as the company is planning to trade the stock again...I would not be upset if they continue to stay in this purgatory period until there is positive (govt) news to move the stock back to an honorable share price. Cannabis stocks are still moving the wrong direction...remaining on the sidelines at least controls the bleeding.

I agree, and I am still cautiously optimistic...it's just taking an awfully long time to re-do these financial statements. I've worked with outside auditors before. It shouldn't take this long. Makes me wonder WHY it's taking so long.

Well, actually they said they are still planning to file and get back compliant. That's a good answer if you ask me. Thank you for the post.

I wrote to them this morning. Here is the non-answer I got back...

Thank you for your support as a shareholder.

As you may have seen, we released a press release in December providing an update on our delayed filings. Here is a link to the release - https://www.globenewswire.com/news-release/2024/12/04/2991917/0/en/Schwazze-Provides-Update-on-Delayed-Filings.html.

While we have not announced a specific timeline for the restatement process, please know that we are fully dedicated to completing it as swiftly as possible to regain compliance with SEC requirements. We have no further update at this time.

Best,

Aaron D’Souza

O: (720) 330-2829

501 South Cherry St, Suite 1100

Denver, CO 80246

aaron@elevate-ir.com | www.elevate-ir.com | LinkedIn

Hmmmm...I guess I'll be doing some tax loss harvesting this year. Ugh.

I think we are beyond hope. Where is Dye hiding? He continued flaunting the great financilals and the best management team ever. My guess is they either take in private or filing bankruptcy. With statements made can management legally hide from a shareholder lawsuit?

Hopefully has something to do with them getting their audits completed and being re-listed on an actual exchange where we can trade again? Fingers crossed. The alternate explanation is they just went bankrupt or took it private???

WTF??? .000001???

The end us near.

Even accredited investors want no part of this. Some guy on Yahoo is talking about litigation.

Maybe Kim will acquire them? Trulieve will start swallowing up the smaller fish. GTI maybe?

I still have a small amount here hoping for the best. Currently most of my money us in interest paying dividends such as ko kmb hsy , pm, mis etc. I believe bankruptcy is not out of the question for shwz. Who knows it could have been part of a plan all along. Hope not!

You and Stevenrisk may be the last two people on the planet interested in seeing the audit and financials completed. And with any US regulation changes tabled more than likely for the foreseeable future (invading the EU seems more important at the moment), I don't see what is going to recharge the sector this year. More than likely, most of these smaller companies will continue to shrivel and die on the vine, rotting under their debt and taxes. SHWZ doesn't seem remotely interested in its investors any longer. I return out of curiosity to see what comes of this, but it would be difficult to convince me to lay a dime on the company again after the past year, except to play any momentary potential bounce and then get out again.

Wow, still crickets 8 days into the New Year. Surely the accounting firm should have some idea of a timeline for publication by now! Shareholders deserve better from an "open" "shareholder friendly" management.

Tax selling ends today! Now get the financials out!

Yea, when they first went expert I posted that I expected it would take until the end of the year at the earliest to get the financials reaudited and to resume trading. Now I think that by end of Q1, 2025 is a likely target. So the company is open, is still able to do business, but they are not able to readily access the capital markets and continue growth. I think the upside to all of this is now they can concentrate on their stores that are open, make them more profitable, and continue to pay down the debt. If they begin trading, and Elon Musk pushes for logical Federal weed laws that don't conflict with State weed laws, I believe this stock will do well once trading resumes. Merry Christmas and Happy New Year all, and remember, there is no X in Christmas!