SHWZ - Earnings call transcript Q2 2022 | Medicine Man Technologies, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. My name is Michelle, and I will be your conference operator today. At this time, I would like to welcome everyone to the Schwazze Second Quarter Conference Call. All lines have been placed on mute to prevent any background noise. At this time, I would like to turn the conference over to Joanne Jobin. ahead. go Please

Joanne Jobin

Greetings, Conference operator. to XXXX the Thank and and Webcast Quarter Call for Second you, welcome Schwazze.

Chief We are Executive Officer. Huber, Chief Chairman Dye, Financial being hosted Officer; by and Justin and Nancy

relate of will their Schwazze's prepared release. remarks that on website I Schwazze's risks forward-looking operations. may take Following questions plan, forward-looking statements the also believe, Relations or position, preceded management which by questions and via may, be will, poised, Such risks potential forward-looking this to build, and to all link contain business statements project, Investor earnings the those Investors uncertainties. they the for financial to or strategy federal in develop, and Examples of words achievements by may are similar anticipate, Management's include, plans differ to like state continue, as that Schwazze's. events, your become, submitted and submitted and performance that and and actual could would at Schwazze expect, answers regarding approximate, uncertainties cause found statements web are statements, press and future anticipated others, objectives future cautioned you to results, among expressions legislation subject presentation, involve time. from statements operations and regulation results remind forward-looking may and

December events, performance Schwazze's earnings the achievements and or on XX, ended results, cause Schwazze's website to is could and that available made XX-K release Schwazze's in factors before available Relations XXXX. for materially concerning in information this year Additional Investor Form available differ call

non-GAAP and website. at Commission, earnings in can with between measures GAAP and over turn the fully call Investor the during call. with differences www.sedar.com like press on described before on www.sec.gov reconciliation this which website. most non-GAAP the may Chairman, I the comparable Relations is A today's can found information during U.S. Schwazze's discussed measure in available other discuss the viewed be Schwazze's directly more public Dye. Also, release addition, call to Relations available Schwazze's of or would financial CEO company's Justin financial measure made on Investor now be filings to Exchange Securities In and the call the Schwazze's

Justin Dye

your Joa. presentation thank you, us would quarterly and this Huber, will I our then before joining Nancy business Thank provide with to afternoon. update thoughts. Hello, final a financial for you some We detail take conclude be questions. results CFO, our our I review in will and happy

Schwazze environment market For to second quarter a the XXXX, continued despite outperform challenging of the in Colorado.

has team becoming difference brands and nurture admired most continued and a in experiences the Our to communities making human cannabis providing vision trusted our of company improve by condition. products, a that the

to for innovation, and our drive technology remain powerhouse, a with developing analytics the challenges passion curating teamwork decisions. by that And plans in for house driven building long-term data and of growth of plan despite conviction scale industry, distinguished leveraging a brands approach, are track. maintain craftsmanship, we on our Our entire in a efficiency regional customer-first

I New for of broader As members team effects would market, navigate a well the economic members challenging of including thank X And to New XX quarter as and Schwazze has Colorado manufacturing team well delivered enthusiasm hard growth. asset December a to added I'm X of one we all in to record our cannabis their pandemic efficiencies. as Mexico that, XX Colorado our very and in operational Mexico. in its adjusted continue like now in for as our the of growth environment the lingering terms and EBITDA inflation in revenue commitment proud. to in driving X retail and customers, network, facilities, cultivation X to dispensaries Mexico Colorado XXXX, their as and in commitment Since and New work,

all-Greenleaf transaction since the include we acquired announced the X,XXX acquisition all asset, the dispensaries, of Canada. in of X X facilities, announced Springs included a Greenleaf located cannabis acquired dispensaries in New the the on common of MSO Fields indoor became announced cultivation manufacturing closing officially Manitou in dispensaries located square Health licensed operating, Canadian of operating Greenleaf Emerald when the Vibert operator the XX, X on the On brand, neighborhood and Glendale, stock the This foot XX,XXX all assets Exchange acquisition late announced In in Denver-based building assets and team. symbol and in the a equity XXXX in assets In XX, we foot management commenced Stock retail we an medical trading the owner and Reynold regional which we February, LLC, Mexico the Brow January, the of cannabis LLC, of under LLC, we Denver's Highlands NEO the New assets & also dispensary X cultivation consists our We a Our based XX the X, which December & Exchange and Mexico strengthened SHWZ, brand, Elemental a development X Tier of company's Boulder, located square of Laboratories, of Kitchen we and location. acquisition June Associates, the X cultivation Colorado. adult-use also Colorado. which February cultivation to includes cannabis Wellness, for of equipment. indoor -- Drift, included March accomplishment of Urban capabilities. Toronto, X On

Mexico. agreement out New and our and New expanding in dispensary Emerald dispensaries and line the both and management to oversight, we brand Lowell We of a Purplebees date Lowell we continue efficiency fosters continue responsiveness to smokes, Farms Greenleaf decentralized retail Colorado to also premium brands develop our of quarter, manufacture pre-rolled and in with our Fields and both Most in license Mexico. to distribute announced a that statewide joints Colorado Last local operating house build importantly, our system to communities. customers and local agility,

to of We in commence QX XXXX. to begin expect this year sales

continue to X, QX Colorado Mexico be expected distribution XX% We New center expansion, sales have We XXXX, in On Mexico. New in prior increased both same-store the year's X Schwazze can which April of sales. construction the is selling recreational commenced our part that report of operational retail cannabis over playbook for our as medical and wholesale quarter XXXX.

pleased with are see We growth to sales and these results continue month-over-month.

next, year do have We state have currently throughout open and additional we plans coverage where to areas the stores dispensaries. not this adding

visits we to QX same XXXX million, Our to compared of Colorado to $XX.X $X.X store the million basket and XXXX. for income generated compared quarter to X were $XX.X $XX.X quarter X compared to X-year We're XXXX. EBITDA to year. XXXX one million million quarter pleased X to Recorded for that EBITDA XX% and for for quarter in increase adjusted totaled up comparing XXXX XXXX. net XX%. compared million, customer quarter size QX of XX.X% quarter for $XX.XX, pressures, the the was quarter X.X%, the period was net X million comparable XX.X% quarter of company's industry income XXXX despite for for down quarter down same same retail compared of report The quarter were were revenue. We compared revenue XXXX in was an the XXX,XXX representing are XXXX, X representing for totaled QX second sales $XX.X to IDs for Average last also X.X% X adjusted XXXX QX XXXX. QX stacked down IDs sales year X.X% $XX

X-year quarter XXXX visits quarter quarter X stacked IDs for quarter XXXX XXX,XXX X to was for Mexico, X sales up X were quarter quarter Recorded identical XX.X% same-store for X compared quarter customer XXXX. to down XXXX. XXXX for to XX%- XX.X% up X X New size and when XXXX and XXXX up compared compared XXXX. XX.X% to Average also X of basket X-year X quarter $XX.XX quarter totaled comparing were

by While outpaced both that for to Colorado, pleased report quarter the Mexico XX%. and really inflation. attributed were Colorado basket again macro We're previous stimulus once to down we for quarter-over-quarter, and of distributed state spending the year's events New

remarkable is by industry this you achievement challenges when think the this at consider a I time. the faced

believe first of to As cultivation the will stated will due market which numbers year, to we Colorado and we retail the cycle last XX the the rest quarter, increased COVID in capacity be this reported that challenging continue state, to of for biomass. in growth oversupply we to year in half anticipate in our resulted wholesale continue of cannabis has

that the However, New we slower growth. Mexico, assisted are market revenue of approximately we retail. offsetting our in quarter, XX% The generated from benefiting from which recreational in

we across locations. retail playbook, dispensaries and the the review growth recognize retail, to in as and New from to dispensary We In segment Colorado. recreational our to and growth implementation as in work continue product product our count grow to products move and with we additional DC categories, at in see continue add our savings assortment vendors Through to our to contribute and promote our to effectively Mexico. we our our efficiencies contribution of retail operating sales expect model to manufacturing a to we vendors with the working aligning continue

and stores We Fields drift and the in to the smoking have Emerald completed gun in dispensaries. Starbucks drift revenue the remodels

we will smoking activities. dispensaries location quarter. attribute increased revenue remodel are the now All this expect gun experiencing completed these X that Starbuds, traffic We to revenue be and to

once state changes again regarding advantage believe continue or cannabis there's positioned and medical look As to for government take to the report adult-use that any a on federal more And we're been no ex the federal positive positive new on in legalize states movement and cannot both legislation. cannabis. front, legislation, federal we basis. We significant laws of

would as always, we're stay poised change. state believe we'll succeed that and to to and in federal our impact that we close industry, As things changes

to across manufacturing the others. cannabis dispensaries and areas continue cultivation, and both will our industry home in We the of additional states evaluate in opportunities

And regarding prices revenue we've growth for to includes the criteria Nancy will growth potential EBITDA discussion with Nancy? over that prospective current turn shareholders, averages provides profitability potential be branded made attractive and to synergy opportunities, retail our applicable acquisition definitive the Any I'd exceeds accretive locations. expansion financial acquisitions to like intentions that high-quality state's review. reached Our with continue Huber agreements once announcements to our attractive products are partners. or now

Nancy Huber

XXXX. I'd like results review our the of for to Justin. second Thanks, financial quarter now

of included million increase of the of in sales operating sales As an XX, XX% for $XX.X the revenues quarter of million, compared Justin $XX.X revenue mentioned $X.X $XX,XXX. Schwazze second million, million $XX.X revenue other XXXX. to wholesale The ended and earlier, retail June reported quarter of

and a mid-February we asset this reminder, Mexico late year New Brow purchase, urban X well in recent in as as added June. Fields, As wellness the Drift, January closed Emerald and which

acquisitions during these $XX.X compared million from XX%. quarter the due sales rate. decreases in regulation increase and In goods to the investor Gross The quarter and however, by release the goods table increased in a This added XX.X% share XXXX. revenue or profit the compensation for market. comparable the $XX purchasing The net product this This quarter driven a in per expenses, by the of QX in notes, consolidated Much $X.XX is to million prior down interest service in not $XX.X QX an professional XX.X%. to and and to gross million versus Mexico. onetime increase per of to profit Other general increased pricing in New in million in cost Basic to the increased the depreciation company quarter decreased of due $XX.X compared Mexico representing for is merger related same reduction for from an and income accounting, totaled wholesale increased and $XX.X growth revenues revenue million Colorado, operating operating XXXX, services were to and the prior in $X.XX administrative percentage to recreational $XX.X Colorado due or revaluation vertical company revenue cost New driven And in the the selling, same for experienced this as to of related benefits net for $X.X income XXXX. result same of quarter and and generated integration expense diluted and for representing of to see employment noncash increase of salaries, negotiations. third-party million, expenses, million $XX continues to same for EBITDA of Representing XXXX in $X.XX $XX.X million raising cannabis driven is of XX,XXX%. year. quarter was fees, our year. XXXX. Wholesale playbook same year's XX.X%. XXXX, totaled mainly revenue reflect in prior is growth representing approach, increase the compared at positive EBITDA increase press Total of $X.XX Mexico. period the the of addition, income overall income or of $XX price quarter versus compared of to acquisition costs income due margin derived Operating for the acquisitions. to our quarter and the and $X.X the in million earnings and for of the amortization, $XX.X costs, over income our quarter last purchase quarter, by services period New change XX.X% share an of the for totaled adjusted an XX%. quarter In in of by compared goods years were $X.X to the the of driving in vertical same cost Gross accounting, retail the and expenses quarter million our in costs, of for for compared purchase during financial This liability earnings the $XX.X The payments. the capital $XX related quarter, increase higher offset increase net of to year. for the Adjusted the and net for million the revenue, other quarter the million details. million implementation million from sales of margin of costs oversupply XX.X% for million of derivative the in adjusting

in the generating for million Schwazze at expect X cash cash currently compared second cash company the net XXXX. the for the million positive operations of to end of $XX.X acquisition used million period for we and cash and quarter, of of For $X.X months, cash of has the year. $X generate same to costs equivalents the flow

the to XXXX. for now Turning outlook

run $XX industry QX announced And quarter was be $XXX XXXX million. $XX the Our quarter are guidance projected EBITDA approximately to revenue projected now the transactions reflect is annualized rate, rate is Guidance our not fourth but from projected revised challenges. for rate run fourth to million annualized adjusted million. including $XXX to current be to closed, to that million run projected

your pressures, QX results that our usually with as seasonality, pivotal to affected one our call synergize today. Our another will and that. you the expansion I'm year are to who recent by continue QX the XXXX reflects guidance our being Thank of remain optimistic integrate and now industry going lower Justin, acquisitions will revenue M&A to and and and our it Despite we be quarters, open turn we for time to continue answers. questions plans. back And

Joanne Jobin

Okay.

to I'm moderating. be So I to up Q&A as open going the am going

and he swing to disappeared or going like I'm and the had on still this sounds acquisitions Justin, is, closed? How I you question the acquisitions he's since there? line. many year new over first It hope the The there. to are Justin,

Justin Dye

I am here, Joe.

had everybody apologies. on Sorry, mute. I My

Joanne Jobin

No worry.

Justin Dye

we're grow to market I share grow and wanted and our We're is of everybody in having industry, of the Colorado, continue executing on support very continued little It Colorado, to challenges plan. their to and bit a we Mexico very versus is very, market continue Schwazze. bullish well, in and our for execute. thank bullish but on we're interest home team and New a great and

closed of of we cannabis Since XX we and that, the first and acquire New as as in the second dispensaries one well In quarter asset December manufacturing or dispensaries quarter. facilities to Colorado continue has cultivation X acquisition announced Colorado we Schwazze in the in X XXXX, with planned as acquired things. are #X So and Mexico. and XX alone,

to continue We good pipeline. have a

acquisitions our closing the the However, same In quarter. close as past within we're you case, time. they literally the announcement viewing year, see can by all and takes

is We grow as stores, and as Joe. healthy, expanding to investors to I'll our And to both and organically announce you, in acquisitions very pipeline should I Colorado our continue and Mexico. said, well. products to with forward turn back it new expect in look New to us continue new

Joanne Jobin

Thank you, Justin.

Okay.

you I in here, outpacing impressive results a and state down can the state How question, Justin. Colorado, do hear Next X from quite keep quarters again. in smiling now, you that the considering once row is

Justin Dye

proven old-fashioned Are did with they're is couple the front a front, what dashboard of this We're going since on our proud going we on to wholesale works And both see. very a the lot execution work we've are our versus the front. to the and that. continue been focused, that, getting the to and we're continue upside say and good and and actually we're businesses strategy lot quarter, say deep, of Schwazze. business of worked by team The team rest better. strategy of are applying retail we this stronger and We do us the working manufacturing backdrop to And also the doing to of synergies a the and good XX% growing they products. years the on -- has right see that efficiencies executing looking and year to available that make on a on over the forward quarter. we'll to to proud here. acquiring playbook And nice focus market. of really of outpaced to it of state going accretive and diligent staying launch We're that And very job our to that's last

back turn to Joe. I'll So it you,

Joanne Jobin

down. go market? to on continue Can numbers Wholesale you. for one here's you Nirup, Justin. this you, comment Thank

Nirup Krishnamurthy

Colorado, in primarily to distressed wholesale cultivation in feeling distillate. referring of oversupply think the which market and Colorado, Obviously, wholesale the we are resulted driven Thanks, terms side. on this pricing. in last due market Joanne. of the to the effects oversupply has of you're down year is Yes, in Colorado. that In I And an year, that

However, side it has retail on helped with margins. us the

I and pricing be next And back believe the as here, mean will it over best ensure period our normal. doing was will we to costs be have lowest course it products we will will not today. to new It ride through here. on and be down of cultivation manufacturing it the you, a higher possible Joanne. can is and to believe that we are we a it we that definitely than clearly, over months so that what may settle is operating high the reducing the what time So at here. quality XX XX focused Back but as this to market stabilize the before, of the this price

Joanne Jobin

additional Thank on color guidance on Nancy, question? revised have you a you, we've guidance of lot Obviously, questions this as Nirup. that any quarter got downwards. we our do

Nancy Huber

Yes. Thanks, Joanne.

restate $XXX did our million we to revenue. million $XXX So down in guidance to

have challenging period time. seen Colorado the of for we We had market this originally than more be anticipated

that. So for we adjusted

is see New bit little as anticipated than numbers those in we've said, we to the we've although continued Mexico a start, slower increase month-over-month.

be to had So a rate anticipated by bit will of but down Mexico New And the longer. believe probably it run or well. just we we as planning open take target then up stores little to maybe there not, we're I hit QX our those in won't And eventual we'll a in number we are whether think QX.

downwards. part of adjusting our guidance what's that's So

Joanne Jobin

got topic. cash? are And a while to generating here, about big enough cash? And Nancy. flow. It cash tends you you you have I've talk let's you, Do Thank be

Nancy Huber

Yes.

to generate expect net flow of this cash year. acquisitions So we

for outpace SG&A has will rightsized but be our sure half making focused, first the on and as we're in that, the is negative, therefore, will anticipate everybody year. that area. We're The we second positive half been

quickly. capital, on so areas but in year, for rest quite return we've little where wouldn't in very as that, the those in we a bit investing not And areas cut the and back taking good at in been a of as judicious look spending be well felt capital just felt strategy we've enough as our significantly the

we some So But have positive I there. we've the liquidity. cash strong, balance of made flows will sheet said, for the and acquisition ample as And adjustments net is year. drive

Joanne Jobin

Justin. Excellent. Thank you, it over swing back to Nancy. And to I'm going

to that the Justin, sales how perhaps expected is and is can speak remainder impact or you for year? to of inflation sales the impacting

Justin Dye

when really lower think a price Mexico, to going our promotions see see think -- about safe are hotter bad as consumers would category. tell -- think is I recession and little I think think We've sector pressure People good we've I It's trading That cannabis still pricing, the times. market. But U.S. competitive certainly in a bit that. think New be it's in we in. us had focused we of I we of a believe that we're being times the and we mean you, important but in And Colorado down, won't still resilient. to bit them invested little about mean we at consumer, for you with retail. some fine. on and I to the very be lower

is very think I labor strong. still

more We of meaning issues cost mixed is and side the certainly But wouldn't more it's whatsoever. really sort able that been from that productivity, what seen a -- on we've and side. inflationary retail see Colorado our pressure more we're on oversupply we've advantage through side. growers, use COGS been take to any out efficiencies the any drive we've drive there work able And on to than faster in seeing that to the So environment.

would so well So, anyways, positioned. I industry is the say

business. I SG&A think on process a the and big out of and to nice continue cost efficiencies job did the team driving and lean to work

over either going can or a time, sheet capital equity markets. out time, the And good so of balance particularly -- debt tap some going good capital a need I think we good got don't second we've think year. we're the -- and be a is very we and for we have really markets, we'll environment see news up set for I very we're the evolves to wait to half don't how

Joanne Jobin

Justin. Thank Excellent. you,

Justin Dye

you, Joe. Thank

Joanne Jobin

this I'm to going you. one over swing you. Thank to Nirup,

Can that and impact forward? you with operations. fully expect sales how grow vertical going you you discuss Now this your products are to

Nirup Krishnamurthy

starting again, own Colorado, and this stores. grows our to In products the flower of year, some the are infuse of Yes. we into we -- our secured some farms cultivation from

strategy our in that, grow in internal means. our take portfolio fully retail to manufacturing and and will through flower stores in In to product developing fully our And it CPG and of our both Mexico diversify Colorado. the simple, and is of wholesale addition The in both best again, already own have side in flower integrated pretty on we time, markets and a assortment all integrated. New So pretty Mexico, made be the facilities. we we growth the come portion was our vertically products products over are New course to our acquisition our from much and

Joanne Jobin

All trend? Nirup. continue you. you seen Do for this revenues impressive. can in think you, Thank improvements be continues here's that question The product right. a you've Nancy, you and to margins

Nancy Huber

in be be, as Revenues on We seeing the this terms pressure costs margins. to and the focused focused as helping as chain is are that working margins, our we're exciting reduce Colorado wanted area with not challenging -- going well. product to through in to some push as in it margin product driving short growth vendors on and very that. supply-side you're as our growth well really in verticalization are on But of term we as

have us. available will we to margin we anticipate so that And

that actually we'll allow on through that. in in that depend market margin to because we we drive the bottom Now line the -- costing the improved to will pricing or use growth we that be the believe flexible to situation, driving take the be in of us will system whether but

Joanne Jobin

question Nancy. competitive? and if challenges been pressures to And impact a also stock? regarding, there how to had will wages you, we've results? say, Thank you so, the that And now hiring increase COVID Has operating would any be inflationary aftermath. I got with Have

Nancy Huber

you Nirup, why that take don't one.

Nirup Krishnamurthy

Yes.

hiring So this always so is have lucky we challenge, a but been in far. environment

future, ensuring workforce. had good are that labor structure of and/or sort make But very our in Schwazze. environment look we over adjustments people had They productive retention pay have they we are we happy make operations. on that not had some are and to we have market in the time. this revise may market. with And in have working significantly the retail work company in are here and but point at either good the focused as have We and line We sure in at grow a at XXX we

Joanne Jobin

you, you've before, Thank to Nirup. up. a in you seeing sort answered with And question this What know way of Nancy comes question roundabout always current in other refinancing But are opportunities I regards answers. your this your debt?

Nancy Huber

Yes.

So constantly we're talking to people.

In that should my another talking thought treasurers be said are working there's today she there to. and fact, group out we

groups to constantly refinance talking opportunities is we're rates So about everyone to up. interest as aware, the are going

possible. be sense for is opportunities. any make looking our for not short up rush. for coming always the So may none Adjustment that in But term in will of we're finding inferred, anything debt us payment

to X have debt. our of X We on years all

opportunity arises, constantly I it. of So we're advantage said, we the we shopping. will like take -- And if

Joanne Jobin

product, particular, that in called They have Lowe have a special Lowe we relationship someone we product to to regards questions that what And and have Farms the and new lines some XX, Excellent. intend in a machine. got carry. product that's but line we requires

more would by how advantage least X-part allow the And use competitive to how advantage? example, many machine? Or can a we fear acquisitions? lose IP question. the end machinery expect of and they So that and that their they the or at it's would we a year? When would that partners For take

Justin Dye

bit acquisition And side. Nirup, talk why don't you a handle about little the component, Lowe the I'll then Farms

Nirup Krishnamurthy

good, sound Justin. That

of X a the the So and distributor be Farms agreement we have Mexico exclusive of market. an Colorado of, in New their with to Lowe SKUs of few

dispute have, we launching in this that are they're first round, pre-rolls. We are our essentially,

singles, is the We X -- have a pre-roll. which we the have gram

is, quicks, is we X smokes, X.X-gram gram another again, We which called And we walkers, also pack. as gram a which have the minis SKU dog Lowe or a X.X have them, pre-roll. call then lower the which XX is

does been Lowell are all we they fourth those customer in with very, their require to sub be of and very -- are from how provided SOPs their and any them are here they've terms launching so not products And quarter cooperative, special and working beginning us But here. we excited happy in a has with New to and Mexico shortly standpoint. produce equipment Colorado

you. Justin, to back

Justin Dye

Yes. just our We're really where operate continue look to we're build Farms. we continue to you. can look against and partner cannabis to to have and XXX stores continue going more brands great And continue in for the in We're execute state. XX Thank to like at to we Colorado, to the going with state. product Lowe out than to and adult-use remind dispensary opportunities dispensaries locations there's strategy, everyone,

of using a and we and in we and our to bring service going growth, been really them in do what New and and have So for Mexico. to good do doing bring to doing locations products great finding the in thing our to have and we're assortment lot continue same room brand playbook that, we're

talking acquisitions. well new that of as public we're a looking year in we down stores New as at have this some we will handful about making in stores as be We open Mexico

states what with and continue other opportunities right our X to the and to these road growth But look makes of areas So areas market continue look able and going standpoint, do the New to to going grow us to and our company. we're makes if to X sense continue to that. there's the a being plenty product deepen we'll now, Mexico, focus down capabilities, we're to we're focused those going regional road. at from strategy sense down do other And at that we'll the Colorado, there's for dispensaries stay doing in to and in serve then geographic deepen on our we're continue

So game that's the plan.

Joanne Jobin

Justin. be that the you, is Justin? is X do. we're up. the Thank that This more could years? do expect in what be And for works, to call Where conference X in we the company to you -- a an one buyout mark, plan going that the wrapping on do up have question is start hitting we're things We a as to comes every And of question. hour quarter

Justin Dye

don't great our I to think to team investors, brands management closer customers make say have built that. continue think speculation building continue continue attractive really important for wholesale company. in our are our we stronger going are this, closer for And as we We deals stickiness it we we company. building to better value. But about really and what And and We're would and very Board to around members, in closer incredibly team, things think talk retail and to our a get locations. for our retail and locations to a for And brands to driving get and our retail that and creates customers. customers at tremendous like

going we're that. to on So focus to continue

see X to X and grow organically a can years, we that next certainly markets you I and acquire continuing the in and think do to us the that operator regional being serve. in

out cash our and I it frankly, of think lot we move We certainly basis. the level safe dangerous at is freedom federal think which for very are us more takes stores, would associates. banking welcoming that give the a a

this. platforms continue that's we visibility. management customers. NASDAQ we're So us care the Exchange today. and and may opportunities stay New list good Certainly, good we to would And customers, stay in Stock a that stock has acquire liquidity the we things and could more create of then the a in York focused taking and company a build our down on the that's to If it or be great more team or the the team give and for presence great on exchanges in in continue I road, members we move. more think know and

valuable that we If the that All gets to advantage this successful that, that, continue to be do some We to together, when to year. it we're happens, how we're focus And get been merge rest do really we -- take it. help. we open with that Joe, ready And to have but of to not we anything or someone know, us. something up else? buy how we'll continues going to work until exchanges. on and -- just really continue or for good whether to what's have I that And a federal we're we'll of those someone create uplifting monetize and of to but going one other of exploring don't take expect

Joanne Jobin

much. very you Thank

I going it we pretty if today. said I final last Justin, remarks well, But ended had was said question, call as you in that the very to you you fact. ask before much think you it a few all of matter a

now I to at everyone. with me call info@schwazze.com. you for -- have if us This ends Good joining So today. to the for submit further questions, that, direct conference free And I day, feel Schwazze. would everyone like please thank

Operator

for thank gentlemen, lines. that your much please We ask disconnect and Ladies you your you very participation.

Medicine Man (SHWZ) 12 Aug 222022 Q2 Earnings call transcript