Schwazze Announces First Quarter Results

Research, News, and Market Data on Schwazze

Conference
Call & Webcast Scheduled for Today – 4:30 pm EDT

DENVER, May 16, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), today announced financial results for the first quarter ended March 31, 2022 (“Q1 2022”).

Q1 2022 Financial Summary:

• Revenues of $31.8 million grew 64% compared to $19.3 million in first quarter ended March 31, 2021 (Q1 2021)
• Retail sales were $26.5 million up 124% when compared to Q1 2021
• Gross Margin of $10.9 million was up 34.4% compared to $7.3 million in Q1 2021, both first quarters were affected by purchase accounting
• Net Loss was ($26.8) million compared to a Net Loss of ($3.6) million for the same period last year
• Adjusted EBITDA of $7.9 million was 25% of revenue, compared to $5.8 million for the same period last year
• Colorado two year stacked IDs for Q1 2022 compared to Q1 2021 and 2020 for same store sales⁽¹⁾ were 22.7% and one year IDs⁽¹⁾ were (8.1%) comparing Q1 2022 to Q1 2021
• Average basket size ⁽¹⁾ for Q1 2022 was $59.21 down 1.7% compared to Q1 2021
• Recorded customer visits ⁽¹⁾ for Q1 2022 totaled 415,308 down 6.4%, compared to Q1 2021
• New Mexico two year stacked IDs for Q1 2022 compared to Q1 2021 and Q1 2020 for same store sales⁽¹⁾ were 37.3% and one year IDs⁽¹⁾ were (1.9%) comparing Q1 2022 to Q1 2021
• Average basket size ⁽¹⁾ for Q1 2022 was $59.94 down 1.6% compared to Q1 2021
• Recorded customer visits ⁽¹⁾ for Q1 2022 totaled 122,913 down slightly at 0.3%, compared to Q1 2021

Accomplishments for Q1 2022
Since December 2021, Schwazze has closed acquisitions adding 14 cannabis dispensaries, 10 in New Mexico and four in Colorado as well as four cultivation facilities in New Mexico and one in Colorado and one manufacturing asset in New Mexico.

Q1 2022

• Listed Common Stock on the NEO Exchange
• Signed Definitive Agreement to Acquire Assets of Urban Health & Wellness
• Closed Acquisition of Brow 2 LLC Assets
• Closed Acquisition of Emerald Fields
• Added President of New Mexico Division
• Closed New Mexico Acquisition, Becoming a Regionally Focused MSO
• Added to Key Senior Leadership Team
• Closed Acquisition of Drift Assets

Justin Dye, Chairman and CEO of Schwazze stated
, “as we continued our successful transformation into a Regional
MSO in the first quarter of 2022, we met certain challenges, including the
comparison cycling of an inflated Q1 2021, which was aided by stimulus checks
and COVID lockdowns.  Colorado’s high COVID rates during Q1 2022 also
impacted sales and internal staff. The devastating Marshall Fires in and around
Boulder in January of this year, caused one store to temporarily close and the
store has been further impacted due to a displaced population in and around
Boulder County. Also, overall sales and a decrease in wholesale revenue was
largely impacted by wholesale distillate pricing pressure and over-supply in
the state of Colorado.”

Justin continued, “however, we
remain optimistic regarding our continued growth for the remainder of the year
as we believe that Colorado’s first quarter was impacted by macro events. 
We are starting to see more positive results entering the second quarter. We
are pleased to report that the sales trends in New Mexico, which recently
commenced selling recreational-use cannabis on April 1, have seen positive
results, and we remain confident in the future growth of this market.  Our
revenue continues to grow with a 64% increase overall when comparing Q1 2022 to
Q1 2021, with retail sales growing to $26.5 million for the quarter, a 124%
increase compared to Q1 2021. While basket sales and customer visits for both
Colorado and New Mexico were down quarter over-quarter, attributed to macro
events and previous stimulus spending, we once again outpaced the industry
performance in the state of Colorado for the quarter by 10.2%.  At this
time, we do not have a service that publishes comparable market stats in New
Mexico, therefore we will be working on how to compare our performance in the
near future.”

Q1 2022 Revenue
Revenues for Q1 2022, totaled $31.8 million including (i) retail sales of $26.5 million (ii) wholesale sales of $5.2 million and (iii) other operating revenues of $0.04 million, compared to revenues of $19.3 million including (i) retail sales of $11.8 million (ii) wholesale of $7.4 million, and (iii) other operating revenues of $0.08 million during Q1 2021 and represented an increase of $12.4 million or 64%. Increased sales are due in large part to additional dispensary sales.  In Q1 2022, we acquired fourteen new retail dispensaries. The decrease in wholesale revenue in 2022 was largely due to wholesale distillate pricing pressure and over-supply in the state of Colorado.

Cost of goods and services for Q1 2022, totaled $20.8 million compared to cost of goods and services of $12.1 million during Q1 2021, representing an increase of $8.7 million or 72%. This increase was due to increased sales and growth through acquisition. The cost of goods and services increased at a higher rate than revenue due to the impact of purchase accounting on retail acquisitions made in the each of the first quarters. Q1 2022 had $6.3 million in additional cost of goods and services due to purchase accounting while Q1 2021 had $2.2 million of additional cost of goods and services due to purchase accounting.

Gross profit increased to $10.9 million for Q 1 2022 compared to $7.3 million during the same period in 2021. Gross profit margin declined as a percentage of revenue from 37.5% to 34.4%, although net of purchase accounting, the gross margin increased from 48.7% to 54.1%.  This positive result, net of purchase accounting continues to reflect our consolidated purchasing approach, the implementation of our retail playbook, and vertical product sales in New Mexico.

Operating expenses for Q1 2022, totaled $15.7 million, compared to operating expenses of $8.7 million during Q1 2021, representing an increase of $7 million or 80%. This increase was due to increased selling, general and administrative expenses including acquisition costs, professional service fees related to acquisitions, salaries, benefits and related employment costs mostly related to the increased number of dispensaries.

Other expense, net for Q1 2022, totaled $20.7 million, compared to $1.7 million during Q1 2021. The increase in other expense, net was due to an increase in interest payments due to various loans and by the non-cash loss on derivative liability related to our 13% senior secured convertible notes due 2026.

As a result of the factors discussed above, a net loss was generated for the Q1 2022 of $26.8 million, compared to net loss of $3.6 million during Q1 2021.  This loss includes non-cash charges totaling $16.9 million; this includes derivative liability of $13.4 million, depreciation and amortization of $2.5 million and non-cash compensations of $1.0 million as well as acquisition and capital raise costs associated with the closing of recent acquisitions of $9.1 million, including $6.3 million of purchase accounting costs and $2.8 million of additional related costs.

Adjusted EBITDA for Q1 2022 was $7.9 million representing 25% of revenue, compared to $5.8 million for the same period last year. This is derived from Operating Income and adjusting one-time expenses, merger and acquisition and capital raising costs, non-cash related compensation costs, and depreciation and amortization. See the financial table for Adjusted EBITDA below adjustment for details. 

For Q1 2022, the Company generated net cash provided from operations of $5.8 million compared to $1.7 million for the same period in 2021.  The Company has cash and cash equivalents of $47.1 million at the end of Q1 2022. 

Nancy Huber, CFO for Schwazze commented, “Q1
2022 included four acquisitions in January and February expanding the company
in all areas.  We also found ourselves cycling large numbers from the
previous year and were impacted by COVID as many businesses in Colorado were
similarly affected in January. As we move forward in quarters not complicated
by acquisitions costs, we are targeting to have positive operating
income.  We remain focused on continuing to drive our operating playbook
through all our businesses and plan to outperform the market.  We
delivered positive operating cash flow despite a challenging quarter.  We
will continue to invest that cashflow in growth opportunities both organically
and through acquisitions.”

2022 Guidance
The Company’s guidance, issued for 2022 remains unchanged.  Guidance has been issued for a fourth-quarter 2022 (Q4 2022) annualized run rate, which excludes transactions that are announced but not closed.  Q4 2022 revenue annualized run rate is projected to be approximately $220 Million to $260 Million, and the projected Q4 2022 adjusted EBITDA annualized run rate is projected to be from $70 million to $82 million.  

NOTES:

(1)  Schwazze did not own all the assets and entities in part of 2021, 2020 and 2019 and is using unaudited numbers for this comparison.

Adjusted EBITDA represents income (loss) from operations, as reported, before
tax, adjusted to exclude non-recurring items, other non-cash items, including
stock-based compensation expense, depreciation, and amortization, and further
adjusted to remove acquisition and capital raise related costs, and other
one-time expenses, such as severance, retention, and employee relocation. The
Company uses adjusted EBITDA as it believes it better explains the results of
its core business. The Company has not reconciled guidance for adjusted EBITDA
to the corresponding GAAP financial measure because it cannot provide guidance
for the various reconciling items. The Company is unable to provide guidance
for these reconciling items because it cannot determine their probable
significance, as certain items are outside of its control and cannot be
reasonably predicted. Accordingly, a reconciliation to the corresponding GAAP
financial measure is not available without unreasonable effort.

Webcast – May 16, 2022 – 4:30 EDT
Investors and stakeholders may participate in the conference call by dialing 416-764-8650 or by dialing North American toll free 888-664-6383 or listen to the webcast from the Company’s website at https://ir.schwazze.com . The webcast will be available on the Company’s website and on replay until May 23, 2022, and may be accessed by dialing 888-390-0541 / 117902#.

Following their prepared remarks, Chief Executive Officer, Justin Dye and Chief Financial Officer, Nancy Huber will answer investor questions. Investors may submit questions in advance or during the conference call itself through the weblink: https://produceredition.webcasts.com/starthere.jsp?ei=1548621&tp_key=88d9ed2417  This weblink has been posted to the Company’s website and will be archived on the website. All Company SEC filings can also be accessed on the Company website at https://ir.schwazze.com/sec-filings  and on SEDAR at www.sedar.com  

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,” “continue,” “predicts,” “targeting” or similar words. Forward-looking statements include the guidance provided regarding the Company’s Q4 2022 performance and annual capital spending. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and New Mexico and outside the states, (vii) our ability to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, (x) the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and (xii) our ability to achieve the target metrics, including our annualized revenue and EBIDTA run rates set out in our Q4 2022 guidance. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

MEDICINE MAN
TECHNOLOGIES, INC.
CONSOLIDATED BALANCE SHEETS
For the Three Months
ended March 31, 2022 and 2021
Expressed in U.S. Dollars

		March 31,				December 31,
		2022				2021
ASSETS			(Unaudited)				(Audited)
Current assets
Cash and cash equivalents		$	47,688,094			$	106,400,216
Accounts receivable, net of allowance for doubtful accounts			4,196,533				3,866,828
Inventory			16,380,765				11,121,997
Note receivable – current, net			107,500				–
Prepaid expenses and other current assets			3,008,326				2,523,214
Total current assets			71,381,218				123,912,255
Non-current assets
Fixed assets, net accumulated depreciation of $2,390,922 and $1,988,973, respectively			16,601,696				10,253,226
Goodwill			118,698,717				43,316,267
Intangible assets, net of accumulated amortization of $9,791,597 and $7,652,750, respectively			95,443,483				97,582,330
Marketable securities, net of unrealized loss of $8,549 and gain of $216,771, respectively			485,004				493,553
Note receivable – noncurrent, net			–				143,333
Accounts receivable – litigation			290,648				303,086
Other noncurrent assets			1,384,863				514,962
Operating lease right of use assets			13,721,007				8,511,780
Total non-current assets			246,625,418				161,118,537
Total assets		$	318,006,636			$	285,030,792
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable		$	3,106,503			$	2,548,885
Accounts payable – related party			100,128				36,820
Accrued expenses			15,308,676				5,592,222
Derivative liabilities			48,340,485				34,923,013
Notes payable – related party			134,498				134,498
Income taxes payable			3,287,635				2,027,741
Total current liabilities			70,277,925				45,263,179
Long term debt			117,863,486				97,482,468
Lease liabilities			14,082,673				8,715,480
Total long-term liabilities			131,946,159				106,197,948
Total liabilities			202,224,084				151,461,127
Stockholders’ equity
Common stock, $0.001 par value. 250,000,000 shares authorized; 53,484,820 shares issued and 52,746,376 shares outstanding at March 31, 2022 and 45,455,490 shares issued and 44,717,046 shares outstanding as of December 31, 2021.			53,486				45,485
Preferred stock, $0.001 par value. 10,000,000 shares authorized; 86,994 shares issued and 82,594 outstanding at March 31, 2022 and December 31, 2021 and 10,000,000 shares authorized.			87				87
Additional paid-in capital			171,798,685				162,815,097
Accumulated deficit			(54,552,670)				(27,773,968)
Common stock held in treasury, at cost, 517,044 shares held as of March 31, 2022 and December 31, 2021.			(1,517,036)				(1,517,036)
Total stockholders’ equity			115,782,552				133,569,665
Total liabilities and stockholders’ equity		$	318,006,636			$	285,030,792

 

See accompanying notes to the financial statements

 

MEDICINE MAN
TECHNOLOGIES, INC.
CONSOLDIATED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
For the Three Months
ended March 31, 2022 and 2021
Expressed in U.S. Dollars

		For the Three Months Ended
		March 31,
		2022				2021
		(Unaudited)				(Unaudited)
Operating revenues
Retail		$	26,525,716			$	11,816,200
Wholesale			5,207,388				7,446,265
Other			44,450				77,650
Total revenue			31,777,554				19,340,115
Cost of goods and services
Cost of goods and services			20,840,051				12,087,111
Total cost of goods and services			20,840,051				12,087,111
Gross profit			10,937,503				7,253,004
Operating expenses
Selling, general and administrative expenses			6,855,711				3,189,638
Professional services			2,584,472				2,195,108
Salaries			5,296,777				1,869,358
Stock based compensation			991,083				1,483,806
Total operating expenses			15,728,043				8,737,910
Loss from operations			(4,790,540)				(1,484,906)
Other income (expense)
Interest expense, net			(7,302,254)				(961,282)
Unrealized loss on derivative liabilities			(13,417,472)				(1,253,814)
Other expense			7				–
Gain (loss) on sale of assets			–				292,479
Unrealized gain on investments			(8,549)				214,630
Total other expense			(20,728,268)				(1,707,987)
Provision for income taxes			1,259,894				456,614
Net loss		$	(26,778,702)			$	(3,649,507)
Less: Accumulated preferred stock dividends for the period			(1,743,444)				–
Net loss attributable to common stockholders		$	(28,522,146)			$	(3,649,507)
Earnings (loss) per share attributable to common stockholders
Basic earnings (loss) per share		$	(0.61)			$	(0.09)
Weighted average number of shares outstanding – basic			46,841,971				42,616,309
Comprehensive loss		$	(26,778,702)			$	(3,649,507)

 

See accompanying notes to the financial statements

 

MEDICINE MAN
TECHNOLOGIES, INC.
STATEMENT OF CASH FLOWS (UNAUDITED)
For the Three Months
ended March 31, 2022, and 2021
Expressed in U.S. Dollars

		For the Three Months Ended
		March 31,
		2022				2021
Cash flows from operating activities
Net income (loss) for the period			(26,778,702)				(3,649,507)
Adjustments to reconcile net income to cash used in operating activities
Depreciation and amortization			2,540,796				1,790,568
Loss on change in derivative liabilities			13,417,472				1,253,814
(Gain) loss on investment, net			8,549				(214,630)
Stock based compensation			991,083				1,483,806
Changes in operating assets and liabilities (net of acquired amounts):
Accounts receivable			(120,388)				(1,014,189)
Inventory			6,628,634				225,878
Prepaid expenses and other current assets			104,888				(12,816)
Other assets			(867,401)				(371,831)
Operating leases right of use assets and liabilities			157,966				33,334
Accounts payable and other liabilities			8,488,283				2,224,092
Deferred revenue			–				(50,000)
Income taxes payable			1,259,894				–
Net cash provided by operating activities			5,831,074				1,698,519
Cash flows from investing activities:
Cash consideration for acquisition of business			(90,317,153)				(65,109,039)
Purchase of fixed assets			(2,607,567)				(633,114)
Issuance of notes receivable			–				141,680
Net cash used in investing activities			(92,924,719)				(65,600,473)
Cash flows from financing activities:
Proceeds from issuance of debt			18,203,332				39,748,852
Debt issuance and discount costs			2,177,685				599,389
Repayment of notes payable			–				(5,000,000)
Proceeds from issuance of common stock, net of issuance costs			8,000,506				50,282,798
Net cash provided by financing activities			28,381,522				85,631,039
Net (decrease) increase in cash and cash equivalents			(58,712,122)				21,729,085
Cash and cash equivalents at beginning of period			106,400,216				1,231,235
Cash and cash equivalents at end of period		$	47,688,094			$	22,960,320
Supplemental disclosure of cash flow information:
Cash paid for interest		$	4,722,639			$	897,247
Issuance of stock as payment for acquisitions			8,000,506				20,239,980

 

See accompanying notes to the financial statements

 

MEDICINE MAN
TECHNOLOGIES, INC.
Adjusted EBITDA Reconciliation
Non-GAAP measurement
(UNAUDITED)

	Three Months Ended March 31,
	2022		2021
Net income (loss)	$ (26,778,702)		$   (3,649,507)
Interest (income) expense, net	7,302,254		961,282
Provision for income taxes (benefit)	1,259,894		456,614
Other (income) expense	13,426,014		746,705
Depreciation and amortization	2,540,796		1,790,568
Earnings before interest, taxes, depreciation and
amortization (EBITDA) (non-GAAP measure)	$   (2,249,744)		$        305,662
Non-Cash Stock Compensation	991,083		1,483,806
Deal Related Expenses	2,256,934		745,944
Capital Raise Related Expenses	564,320		951,119
Inventory Adjustment to fair market value for purchase accounting	6,260,434		2,164,686
Severance	4,565		16,266
Retention Program Expenses	–		29,688
Employee Relocation Expenses	18,778		20,000
Other non-recurring items	17,911		127,167
Adjusted EBITDA (non-GAAP measure)	$     7,864,281		$     5,844,338
	7,864,281		5,844,338
	–		–
Revenue	31,777,554		19,340,115
aEBITDA Percent	24.7%		30.2%

 

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SOURCE Schwazze

Released May 16, 2022

Thursday, May 12, 2022

Bowlero (BOWL)
Scores Another Big Quarter

Bowlero Corp. is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Impressive Q3 results. The company reported fiscal Q3 revenue of $257.8 million, an increase of 130% from the year earlier quarter and a solid 8.3% above our estimate of $238.1 million. Adj. EBITDA was even more impressive at $108.4 million, a 296% increase from the year earlier quarter and a whopping 36.3% higher than our estimate of $79.5 million.

Eased COVID restrictions. Management noted that the strong quarter was boosted by the easing of COVID restrictions in many regions and as the Covid Omicron variant faded. This allowed retail revenue to increase and event revenue to significantly improve. This was evident by a 133% increase in Food & Beverage in the quarter. Notably, revenue was up 25.8% compared with pre-pandemic performance and up 12.2% compared with pre-pandemic on a same-store basis.  

…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Wednesday, May 11, 2022

Element79 Gold Corp. (ELMGF)
Getting In On the Ground Floor

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Feb. 4, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold has signed a letter of intent to acquire the business and assets of Calipuy Resources Inc., which holds 100% interest in the past-producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past-producing Machacala Mine. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating coverage with an Outperform rating. From the time of its initial public offering in August 2021, Element79 Gold has rapidly assembled a diversified portfolio of precious metals properties in the United States, Canada, and Peru. The company’s 20-property portfolio, including those for which it has an option or letter of intent to acquire, includes sixteen 100%-owned projects in Nevada, two in Canada, and two in Peru. Its flagship Maverick Springs project in Nevada, which was acquired in December 2021, hosts an inferred resource of 3.71 million ounces of gold equivalent with significant expansion potential. The company also owns 15 properties along the Battle Mountain Trend in Nevada and is considering each for additional exploration, joint venture, sale, or spin-out.

Accelerated path to cash flow generation. Element79 Gold recently executed a letter of intent to acquire two past producing gold mines in Peru, the Lucero and Machacala mines, with the intent to return Machacala to production within the next 18 to 24 months at a maximum rate of 350 tonnes per day. A definitive agreement is expected to be executed by the end of June with the transaction closing shortly thereafter. While the company’s Nevada projects provide scale and underpin the company’s valuation with an existing resource, the projects in Peru offer the potential for higher grade ore and the prospect of near-term production and cash flow….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

The Big Tomato, Hydroponic Division of Schwazze, Receives Westword Best of Denver Award for the Best Home Cultivation Store

Research, News, and Market Data on Schwazze

DENVER, May 9, 2022 /PRNewswire/ – 
Schwazze, (OTCQX: SHWZ) (NEO: SHWZ), a premier vertically integrated, multi-state operating cannabis company with assets in Colorado and New Mexico is proud to announce that its hydroponic and indoor gardening brand, The Big Tomato has been named the Best Home Cultivation Store in the city of Denver by Westword magazine.

Westword magazine states, “The Big Tomato was helping home growers long before the dispensary boom, selling indoor gardening supplies for over two decades. Now owned by Schwazze, a Denver-based cannabis corporation, the Big Tomato still offers the same friendly service for newbies and regulars, but now has even more of a cannabis focus — and an online shopping option, to boot. For beginning green thumbs, finding a trustworthy growing store is like searching for a new mechanic; more cynical shops can take advantage of that lack of experience by suggesting unnecessary lighting equipment and nutrients. That’s not the case at the Big Tomato, so don’t be afraid to ask questions.”

“We are honored to receive the Westword award for Best Home Cultivation Store in Denver,” said Jeremy Bullock, Vice President – Commercial Sales. “We are proud to serve our community and provide expert advice to an industry that has historically lacked access to information and education about the best practices for cultivating cannabis.”

The Big Tomato (Big Tomato) has served the indoor, hydroponic and community of Colorado for over 20 years. Big Tomato predates the hydroponics boom, and offers competitive prices and an extensive selection of expertly curated supplies. The experienced growers at Big Tomato offer superior product knowledge to hobbyists and commercial growers alike. From propagation to harvest, Big Tomato has developed a reputation as the go-to source for all garden supply needs.

695 Billing St.,
Aurora, Colorado
303-364-4769

thebigtomato.com

About Schwazze

Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

 View original content:https://www.prnewswire.com/news-releases/the-big-tomato-hydroponic-division-of-schwazze-receives-westword-best-of-denver-award-for-the-best-home-cultivation-store-301541846.html

SOURCE Schwazze

Bowlero Corp. Announces Outstanding Results for the Third Quarter of Fiscal Year 2022

Research, News, and Market Data on Bowlero

• Revenue totaled
  nearly $258 million, growing $145.6 million or 129.8% year over year,
  $52.8 million or 25.8% relative to pre-pandemic performance, and $24.1
  million or 12.2% on a same-store basis vs. pre-pandemic. ¹ Revenue trends
  accelerated through the week ended April 24, 2022 (see chart below).

• Net Loss for the
  quarter of $18.0 million was driven primarily by $66.6 million of non-cash
  expenses related to the increase in the value of earnouts and warrants, as
  well as $3.4 million of transactional expenses related to the business
  combination. Net Income for the quarter, adjusted for these items was
  $52.0 million vs. a net loss of $23.1 million in the prior year. ²

• Adjusted EBITDA
  of $108.4 million increased $81.0 million or 295.7% vs. prior year’s
  quarter, and grew $41.0 million or 60.9% relative to pre-pandemic
  performance. ²

• Trailing twelve
  month (“TTM”) Net Loss of $50.3 million was driven primarily by
  expenses related to the successful de-SPAC transaction, which include
  $42.2 million in share based compensation and $32.5 million in transactional
  expenses, as well as $44.1 million of non-cash expenses related to the
  increase in the value of earnouts and warrants. TTM Net Income, adjusted
  for these items was $68.5 million. ²

• TTM
  Adjusted EBITDA of $276.3 million exceeded pre-pandemic performance by
  58.9%. ²

• Repurchased 109,754 shares of
  Class A common stock and 2,690,272 warrants.

• Announced the redemption of all
  outstanding publicly traded and privately held warrants, which is planned
  to be completed on May 16, 2022.

RICHMOND, Va., May 11, 2022 (GLOBE NEWSWIRE) — Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today provided financial results for the 2022 fiscal year third quarter, which ended on March 27, 2022. Bowlero announced that it grew revenue in the quarter to nearly $258 million, driven by strong growth in both walk in retail and event revenue. Total revenue grew by 25.8% compared to pre-pandemic performance and by 129.8% on a year-over-year basis. Same-store sales rose by 12.2% relative to pre-pandemic.¹  

“We are extremely pleased with our performance in the quarter. As our record quarterly generation of Revenue and Adjusted EBITDA demonstrate, Bowlero has never been stronger than it is today. We are more committed than ever to executing our growth strategy, and we are thrilled to continue to welcome our guests to a delightful experience,” said Tom Shannon, Founder and Chief Executive Officer.

Financial
Summary

• Significant growth in Revenue during the quarter, totaling nearly $258 million, up 25.8% relative to pre-pandemic performance and 129.8% on a year-over-year basis; 12.2% on a same-store basis vs. pre-pandemic performance.¹
• Net Loss for the quarter of $18.0 million was driven primarily by $66.6 million of non-cash expenses related to the increase in the value of earnouts and warrants, as well as $3.4 million in transactional expenses related to the business combination. Net Income, adjusted for these items was $52.0 million vs. a net loss of $23.1 million in the prior year.²
• Adjusted EBITDA for the quarter grew to $108.4 million, up 60.9% relative to pre-pandemic performance and 295.7% vs. prior year.²
• TTM Adjusted EBITDA of $276.3 million exceeded pre-pandemic performance by 58.9%.
  ²
• TTM Net Loss of $50.3 million was driven primarily by expenses related to the successful de-SPAC transaction, which include $42.2 million in share based compensation and $32.5 million in transactional expenses, as well as $44.1 million of non-cash expenses related to the increase in the value of earnouts and warrants. TTM Net Income, adjusted for these items was $68.5 million.
  ²
• Cash generated from Operations during the quarter was $83.6 million.

“We saw an acceleration of growth as the quarter progressed, driven by the waning impact of Omicron and COVID restrictions being eased,” said Brett Parker, President and CFO of Bowlero Corp. “In addition to continued strong growth in walk in retail revenue, we also saw growth in total event revenue for the first quarter since the onset of COVID. While growing revenue, we also expanded Adjusted EBITDA margin from the pre-COVID levels by 918 basis points. As a result, we posted our highest Revenue and Adjusted EBITDA generated in any quarter, as well as any nine month or TTM period in our history.”

Total
Bowling Center Revenue Performance Trend 3

Chart for Bowlero Corporation Revenue Performance Summary vs. Pre-COVID Performance:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3c14a746-9fd9-430a-ae09-5fc850a77e9b

* The revenue performance for the week ended 10/31/21 was negatively impacted by Halloween falling on the weekend.
* The revenue performance for the week ended 12/26/21 was negatively impacted by Christmas Day falling on the weekend.
* The revenue performance for the week ended 2/13/22 was negatively impacted by the shift in Super Bowl Sunday.      

____________
¹ Same-store sales are measured by comparing revenues for centers open for the entire duration of both the current and comparable measurement periods. The pre-pandemic comparable period for current quarter is the quarter ended March 31, 2019.
² “GAAP” stands for Generally Accepted Accounting Principles in the U.S. Please see the sections of this document titled “GAAP Financial Information” and “GAAP to non-GAAP Reconciliations” for more information on the Company’s GAAP and non-GAAP measures. Certain figures in the tables throughout this document may not foot due to rounding.
³ Total Bowling Center Revenue excludes closed bowling center activity and media revenue, which is also a component of our bowling operations. For weeks between 9/5/21 and 12/26/21 and between 3/6/22 and 4/17/22, the percentages above are calculated by comparing each week to the comparable week in 2019. For weeks between 1/2/22 and 2/27/22, the percentages above are calculated by comparing each week to the comparable week in 2020. Data for all weeks following the close of the quarter ended on 3/27/22 are preliminary.

Investor
Webcast Information
Listeners may access an investor webcast hosted by Bowlero. The webcast and results presentation will be accessible at 5:30 PM ET on May 11, 2022 in the Events & Presentations section of the Bowlero Investor Relations website at 
https://ir.bowlerocorp.com/overview/default.aspx.

About
Bowlero Corp.
Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which it acquired in 2019 and which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Forward
Looking Statements

Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology and include preliminary results. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: the impact of COVID-19 or other adverse public health developments on our business; our ability to grow and manage growth profitably, maintain relationships with customers, compete within our industry and retain our key employees; changes in consumer preferences and buying patterns; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; the risk that the market for our entertainment offerings may not develop on the timeframe or in the manner that we currently anticipate; general economic conditions and uncertainties affecting markets in which we operate and economic volatility that could adversely impact our business, including the COVID-19 pandemic and other factors described under the section titled “Risk Factors” in the registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Read the full release for financials

Tuesday, May 10, 2022

Kandi Technologies Group, Inc. (KNDI)
First quarter results reflect shift in business line

Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd.) and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Off-road vehicle sales rose 90% year over year. Off-road electric vehicles sales, primarily golf carts, were $10.7 million surpassing our expectations for sales of $8 million. The segment has been hot every since the beginning of COVID and continues to grow in importance to the company. The company formed a new company to produce electric golf carts. The company recently signed a memorandum of understanding to sell $29 million (5,000 units), virtually doubling the division’s sales. We expect strong growth from the division.

Battery sales have been strong and now represent the second largest operating division. Battery sales were $8.0 million up from a negligible amount last year. The company acquired Jiangxi Huiyi New Energy Co. in October 2021. The division has synergistic benefits with Kandi’s other operating divisions and appears to be a profitable business on its own….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tuesday, May 10, 2022

RCI Hospitality Holdings (RICK)
Momentum Continues to Build

With more than 50 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country’s leading company in gentlemen’s clubs and sports bars/restaurants. Clubs in New York City, Chicago, Dallas-Fort Worth, Houston, Miami, Minneapolis, Denver, St. Louis, Charlotte, Pittsburgh, Raleigh, Louisville, and other markets operate under brand names such as Rick’s Cabaret, XTC, Club Onyx, Vivid Cabaret, Jaguars Club, Tootsie’s Cabaret, and Scarlett’s Cabaret. Sports bars/restaurants operate under the brand name Bombshells Restaurant & Bar.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2Q22 Results. Revenue hit a record $63.7 million, up 3.0% sequentially and up 44.6% y-o-y. Omicron cut quarterly revenue by an estimated $2 million. We had projected $65.3 million of revenue. Net income was $11.0 million, or $1.15 per share, compared to $6.1 million, or $0.68 per share last year. We were at $11.6 million, or $1.22 per share.

Club Acquisitions and Growth. RCI just acquired another South Florida club for $16 million, or 4.1x club EBITDA and is under contract to purchase a club in Ft. Worth, TX. In addition, the rebranded Louisiana club was opened in March and the reformatted San Antonio club will open in the third quarter.  …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Schwazze Makes History As Star Buds Dispensary Becomes The First Cannabis Company To Feature Its Logo On A Professional Sports Team Uniform For The New AUDL Colorado Summit

Research, News, and Market Data on Schwazze

DENVER, May 5, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (NEO: SHWZ), a premier vertically integrated, multi-state operating cannabis company with assets in Colorado and New Mexico is proud to announce that its Colorado dispensary, Star Buds has become the first cannabis company to place its logo on a professional sports team’s uniform as the official sponsor of the Colorado Summit (Summit), Colorado’s first professional ultimate disc team.

On Wednesday, May 4th, Colorado Summit made history by revealing the first jersey in professional sports history to feature a cannabis logo — Star Buds dispensary. Established in 2013, Star Buds excels in customer service, offers competitive prices, and a wide selection of cannabis products and strains, including our signature Cannabis Cup-winning Pootie Tang sativa. Star Buds is also the official sponsor of the Colorado Summit Beer Garden located in the University of Denver’s Peter Barton Stadium.

“We’re incredibly proud to be the first cannabis company to sponsor Colorado’s first professional ultimate disc team and hope this will drive a movement toward the acceptance of cannabis in professional sports,” said Justin Dye, CEO and Chairman of Schwazze. 

The Colorado Summit’s season kicks off on Saturday, May 7th in Seattle at 6 PM MT. The Summit will play their first home game on Memorial Day Weekend, Saturday, May 28th at 7 PM MT at the University of Denver’s Peter Barton Stadium (at the base of the DU clocktower). Fox Sports will be broadcasting two of the Colorado Summit’s home games live nationally on FS2 this season. All of their games can be streamed online on AUDL.TV.

Ultimate was created in 1969 and is now the fastest-growing sport in the world. The fast-paced, high-flying sport is being considered for admission to the 2028 Olympics.

Tickets to all home games can be purchased at TheColoradoSummit.com. Replica Colorado Summit Jerseys can be purchased at VIIapparel.co.

About Schwazze

Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. 

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

 View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-makes-history-as-star-buds-dispensary-becomes-the-first-cannabis-company-to-feature-its-logo-on-a-professional-sports-team-uniform-for-the-new-audl-colorado-summit-301540335.html

SOURCE Medicine Man Technologies, Inc.

Schwazze to Host First Quarter Conference Call and Webcast May 16, 2022

Research, News, and Market Data on Schwazze

DENVER, May 9, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (NEO:SHWZ) (“Schwazze” or the “Company”), announces that it will host a first quarter 2022 conference call and webcast on May 16, 2022 at 4:30 pm EDT.

 

Investors and stakeholders may participate in the conference call by dialing 416 764 8650 or by dialing North American toll free 888-664-6383 or listen to the webcast from the Company’s website at https://ir.schwazze.com. The webcast will be available on the Company’s website and on replay until May 23, 2022, and may be accessed by dialing 888-390-0541 / 117902#.

Following their prepared remarks, Chief Executive Officer, Justin Dye and Chief Financial Officer, Nancy Huber will answer investor questions. Investors may submit questions in advance or during the conference call itself through the weblink: https://produceredition.webcasts.com/starthere.jsp?ei=1548621&tp_key=88d9ed2417  This weblink has been posted to the Company’s website and will be archived on the website. All Company SEC filings can also be accessed on the Company website at https://ir.schwazze.com/sec-filings  and on SEDAR at www.sedar.com  

About Schwazze

Schwazze (OTCQX: SHWZ; NEO: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high- performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices. Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “may,” “estimates”, “predicts,” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the actual revenues derived from the Company’s Star Buds assets, * the Company’s actual revenue and adjusted EBITDA for 2021, (xi) the Company’s ability to generate positive cash flow for the rest of 2021 (xii) the ongoing COVID-19 pandemic, (xiii) the timing and extent of governmental stimulus programs, and (xiv) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

 View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-to-host-first-quarter-conference-call–webcast-may-16-2022-301542234.html

SOURCE Medicine Man Technologies, Inc.

Image Credit: Bombshells (Property of RCI Holdings)

Twitter and Ricks Hospitality Will Make History After the Closing Bell May 9

Twitter Spaces or just Spaces when on Twitter ($TWTR) is a relatively new way to hold a live audio conversation on Twitter between two parties, groups, or in a meeting setting. An earnings call, for public companies is a quarterly check-in with investors, analysts, and the media to discuss the company’s financial results for the prior reporting period.  On Monday, May 9th, at 4:30 PM ET, RCI Hospitality will hold its earnings call on Twitter Spaces. This event will make them the first in what may soon become the norm for corporations.

You can be part of history by logging in on Twitter’s audio platform to this reporting event.  

 

About RCI Hospitality, Holdings (RICK)

RCI owns and operates upscale gentlemen’s clubs and restaurants. Additionally, there is a website and media division. The banner below gives a great visual cross-section of their properties.

Image: Twitter @RicksCEO

If you want to explore Twitter Spaces, or learn about RICKs earnings, or just be part of history, here are the details of how to participate:

• To participate in the RCI 2Q22 Earnings Call Twitter Space, follow @RicksCEO and go to this link: https://twitter.com/i/spaces/1mrGmanekZQGy
• To ask questions during the Q&A, participants must join the Twitter Space using a mobile device
• To listen only, participants can access the Twitter Space from a computer

 

RCI Hospitality will also be holding a Meet Management event that evening in Miami:

• Investors are invited to meet management at RCI’s top revenue generating club
• May 9th, at 8 PM ET, at Tootsie’s Cabaret Miami, 150 NW 183rd St., Miami, FL 33169
• RSVP your contact information to [email protected]

 

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Friday, May 06, 2022

RCI Hospitality Holdings (RICK)
Sweet Home Alabama

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Adding more Restaurants. RCI Hospitality announced the signing of a franchise agreement for Bombshells Restaurant & Bar that brings three franchise locations of the restaurant to the state of Alabama. The franchisee of the locations will be a newly established entity by Jerry Westland, a hospitality entrepreneur who owns nightclubs, bars, and restaurants. These locations will be opening over the next five years, with the first one being placed in Huntsville.

Continuing to Grow Bombshells. This announcement is a testament to RCI’s strategy of expanding Bombshells into various states as well as expanding on the franchising model for the restaurant. Recall, management’s goal is to have 80-100 locations over the next five years, and the Company is actively looking at different areas of Texas and Florida in which to expand the brand….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tuesday, May 03, 2022

GABY (GABLF)
Full Year 2021 Results; Revising Estimates

GABY Inc. is a California-focused retail consolidator and the owner of Mankind Dispensary, one of the oldest licensed dispensaries in California. Mankind is a well-known, and highly respected dispensary with deep roots in the California cannabis community operating in San Diego, California. GABY curates and sells a diverse portfolio of products, including its own proprietary brands, Lulu’s™ and Kind Republic™ through Mankind, manufactures Kind Republic, and distributes all its proprietary brands through its wholly owned subsidiary, GABY Manufacturing. A pioneer in the industry with a multi-vertical retail foundation, and a strong management team with experience in retail, consolidation, and cannabis, GABY is poised to­­­ grow its retail operations both organically and through acquisition.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q21 Results. GABY reported fourth quarter revenue of $8.2 million, up from $1.0 million reported last year, driven by the acquisition of Mankind. We had estimated revenue of $8 million. Gross margin for the quarter improved to 47% compared to our 45% projection. GABY recorded adjusted EBITDA of $0.86 million in the quarter. Net loss for the quarter totaled $3.86 million, or $0.00 per share, versus a net loss of $6.66 million, or $0.03 per share, in the same period in 2020.

FY21. For the full year, GABY generated revenue of $32.4 million, up from $4.1 million in 2020. Full year gross margin was 36.4%. Adjusted EBITDA for the year was $1.44 million versus negative $6.72 million last year. Full year net loss totaled $12.2 million, or $0.02 per share, compared to a net loss of $13.99 million, or $0.06 per share, in 2020….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

ACCO Brands’ Graciela Monteagudo Recognized as NACD Directorship 100™ Honoree

Research, News, and Market Data on ACCO Brands

The 16th Annual NACD Directorship 100™ List Recognizes the Most
Influential Corporate Directors and Governance Experts

LAKE ZURICH, Ill.–(BUSINESS WIRE)– The National Association of Corporate Directors (NACD) announced the 2022 NACD Directorship 100™—the most influential peer-nominated leaders in the boardroom and corporate governance community. Included among this year’s esteemed honorees is Graciela Monteagudo of ACCO Brands.

“We applaud Graciela for this deserved recognition,” said Boris Elisman, Chairman and Chief Executive Officer, ACCO Brands. “It is a testament to Graciela’s expertise that other directors put forward her nomination. As the Chair of the Nominating, Governance and Sustainability Committee, she leads our Board’s deliberations on governance and ESG topics, and champions improvements in policies and disclosure. We are very proud that Graciela is a 2022 NACD honoree.”

Now in its 16th year, the NACD Directorship 100 awards recognize peer-nominated leading directors and governance professionals. Honorees are evaluated in four key categories: integrity, mature confidence, informed judgment and high-performance standards. A selection committee reviewed the nominees’ histories of advancing board performance and leading corporate governance practices in accordance with established NACD principles. The principles are a framework that encourages excellence in areas that include risk oversight, corporate strategy, compensation and transparency.

“The NACD Directorship 100 continues to honor those who have demonstrated exemplary board leadership and innovation in corporate governance,” said Peter R. Gleason, NACD President and Chief Executive Officer. “We honor these individuals’ forward-thinking minds and their ability to lead their boards and organizations to current and future success.”

The complete list of the 2022 NACD Directorship 100 is available at https://directorship100.nacdonline.org/honorees/2022.

Honorees will be recognized during the NACD Directorship 100 Gala, a black-tie event being held on June 22 at Cipriani 42nd Street in New York City. To learn more about the NACD Directorship 100 Gala, please visit the Directorship 100 Gala and sponsorship site.

About ACCO Brands Corporation

ACCO Brands Corporation (NYSE: ACCO) is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include Artline®, AT-A-GLANCE®, Barrilito®, Derwent®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, Wilson Jones® and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

About NACD

For more than 40 years, NACD has been on the leading edge of corporate governance, setting standards of excellence that have elevated board performance. NACD arms today’s directors with insights and education that drive their mission forward, while preparing a new generation of boardroom leaders to meet tomorrow’s biggest challenges. NACD is a community of more than 23,000 directors driven by a common purpose: to be trusted catalysts of economic opportunity and positive change—in businesses and in the communities they serve. To learn more about NACD, visit nacdonline.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005778/en/

Julie McEwan
[email protected]
(937) 974-8162

Shannon Bernauer
[email protected]
(571) 367-3688

Source: ACCO Brands Corporation