Movers and SHAKERS
Reports 4Q20 and Full Year Results
Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
4Q Results. For the fourth quarter, Schwazze reported revenue of $7.9 million, an increase of approximately 139% as compared to $3.3 million during the same period in 2019 and a net loss of $8.5 million, or $0.21 per share, compared to a net loss of $3.4 million, or $0.10 per share, for 4Q19. We had forecast revenue of $8.1 million and a net loss of $2.6 million, or $0.06 per share.
Star Buds Update. The Company is currently integrating the 13 Star Buds dispensary locations into its data-driven operating system to create operational and financial synergies and expects to complete the process by mid-June. Together with Schwazze and the proforma revenue for 2020 Mesa Organics Ltd, acquired by Schwazze in April 2020, total 2020 proforma revenue is estimated to be approximately ...
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.