DENVER, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Medicine Man Technologies, Inc., operating as Schwazze, (OTC: SHWZ) (Cboe CA: SHWZ) ("Schwazze" or the "Company"), is providing an update on its previously announced delayed filings. On November 29, 2024, the Audit Committee of the Company determined, following discussions with Baker Tilly and the Company’s management, that the Company’s previously issued audited consolidated financial statements for the two fiscal years ended December 31, 2023, audited by BF Borgers, and the Company’s unaudited condensed consolidated financial statements and the notes thereto as of and for the fiscal periods ended March 31, 2023, June 30, 2023, and September 30, 2023 included in the Company’s Quarterly Reports on Form 10-Q for the fiscal periods ended March 31, 2023, June 30, 2023, and September 30, 2023 that were filed with the SEC (collectively the “Subject Periods”) will be restated due to the identification of certain accounting adjustments needed primarily relating to technical accounting areas. The Company has concluded that the impact of these corrections is material and as a result, the Subject Periods should no longer be relied upon. Similarly, any previously issued or filed reports, press releases, earnings releases, investor presentations or other communications of the Company describing the Company’s financial results or other financial information should no longer be relied upon to the extent that they are related to the Subject Periods. Schwazze does not currently believe that the foregoing corrections will have any negative material impact on the Company’s revenue, adjusted EBITDA, cash from operations or cash position. Additional details on the impact of these adjustments can be found in the Company’s related Form 8-K filed earlier today. About Schwazze Schwazze (OTC: SHWZ) (Cboe CA: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to explore taking 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. 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. 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. To learn more about Schwazze, visit https://schwazze.com/ . Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, 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 include financial outlooks; statements regarding the expected impact of the restatements and change in accounting treatment, including on the Company’s overall business operations, previously reported cash and cash equivalent balances, and strategic outlook; statements regarding the Company’s internal controls over financial reporting and ongoing internal reviews and assessments; any projections of net sales, earnings, or other financial items; any statements of the strategies, plans and objectives of our management team for future operations; expectations in connection with the Company's previously announced business plans; any statements regarding future economic conditions or performance; and statements regarding the intent, belief or current expectations of our management team. Such statements may be preceded by the words "may," "will," "could," "would," "should," "expect," "intends," "plans," "strategy," "prospects," "anticipate," "believe," "approximately," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other words of similar meaning in connection with a discussion of future events or future operating or financial performance, although the absence of these words does not necessarily mean that a statement is not forward-looking. We have based our forward-looking statements on management's current expectations and assumptions about future events and trends affecting our business and industry. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Therefore, 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, that the Company has underestimated the scope and impact of the restatements, risks and uncertainties around the effectiveness of the Company’s disclosure controls and procedures and the effectiveness of the Company’s internal control over financial reporting, the risk that the Company’s restated financial statements may take longer to complete than expected, as well as those risks and uncertainties risks and uncertainties associated with (i) regulatory limitations on our products and services and the uncertainty in the application of federal, state, and local laws to our business, and any changes in such laws; (ii) our ability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (iii) our ability to identify, consummate, and integrate anticipated acquisitions; (iv) general industry and economic conditions; (v) our ability to access adequate capital upon terms and conditions that are acceptable to us; (vi) our ability to pay interest and principal on outstanding debt when due; (vii) volatility in credit and market conditions; (viii) the loss of one or more key executives or other key employees; and (ix) other risks and uncertainties related to the cannabis market and our business strategy. Any such risks and uncertainties could materially and adversely affect the Company’s results of operations, its profitability and its cash flows, which would, in turn, have a significant and adverse impact on the Company’s stock price. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. 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. As noted above, investors are cautioned that the Subject Periods, and related investor communications, should no longer be relied upon; such communications include earnings releases, press releases, shareholder communications, investor presentations and other communications describing relevant portions of the Subject Periods. Investor Relations Contact Sean Mansouri, CFA or Aaron D’Souza Elevate IR (720) 330-2829 ir@schwazze.com
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During his first presidency and in his campaign leading up to the 2024 election, Donald Trump repeatedly pledged to crack down on illegal immigration. As president-elect, Trump posted on Truth Social on Nov. 18 confirming his plans to declare a national emergency and use the U.S. military for mass deportations of undocumented immigrants. Trump commented “TRUE!!!” with a repost of a Truth Social post from Tom Fitton, who runs the conservative group Judicial Watch . Fitton’s post reads, “GOOD NEWS: Reports are incoming @RealDonaldTrump administration prepared to declare a national emergency and will use military assets to reverse the Biden invasion through a mass deportation program.” Several VERIFY readers, including Debbie, Jacq and Matty, asked us whether Trump can use the military to carry out mass deportations. THE QUESTION Can the president use the military to carry out mass deportations? THE SOURCES THE ANSWER Yes, it's legal for the president to use the military to help carry out mass deportations and other immigration enforcement actions. The National Guard, with approval from a state's governor, can detain individuals, but the other branches of the military can offer mostly logistical support. WHAT WE FOUND A president has the executive power to deploy the military to assist with immigration enforcement, but there are legal limits on the role the military can play. The Posse Comitatus Act, a 143-year-old law, prohibits the president from using active-duty, full-time service members, such as soldiers or Marines, as a police force, according to the Brennan Center for Justice . That means federal military branches like the U.S. Army or Air Force can’t perform tasks such as detaining individuals or making arrests on U.S. soil, even under a national emergency declaration. David Bier, director of immigration studies at the Cato Institute, explained that active-duty service members, barred from acting like police under Posse Comitatus, would likely focus on non-law enforcement tasks. That could include building infrastructure, like temporary detention facilities, transporting detainees and providing armed backup for domestic law enforcement. The Posse Comitatus Act, however, does not apply to the National Guard, Peter Margulies, a law professor at Roger Williams University, told VERIFY. “The National Guard is a state militia and can be called out by the president with the cooperation of the state governors, and so you could have the National Guard from, let's say, Texas, be used for apprehension. That would not create Posse Comitatus issues,” Margulies said. Trump's post on Truth Social mentioned declaring a national emergency, but the president can request National Guard assistance or federal military assistance with or without declaring a national emergency , according to Chris Mirasola, a contributor for non-profit Lawfare. The Brennan Center for Justice explains that declaring a national emergency grants a president with swift authority during times of crises without waiting for Congressional approval, including diverting federal funds or resources. Both Bier and Margulies told VERIFY Trump's deportation agenda would likely face significant legal challenges and be subject to congressional oversight. And if he declares a national emergency, Congress has the ability to eventually terminate that declaration , but it would require passing a law with a veto-proof supermajority, “which is increasingly difficult in our polarized political environment,” Goitein told VERIFY. Military involvement in immigration enforcement is not unprecedented. In 2019, then-President Trump declared a national emergency to redirect military funds to construct the U.S.-Mexico border wall. More recently, President Joe Biden used a national emergency declaration to deploy the National Guard to the southern border to assist with processing and facility operations tied to drug enforcement. According to Google Trends data , online searches about mass deportation have spiked, with some appearing to link the military's involvement to martial law. Martial law involves the suspension of ordinary law and government functions, with military authorities assuming control. Margulies said even if Trump uses the military in his administration’s deportation efforts, it would not equate to declaring martial law. Margulies explained that martial law hasn’t been used since the Civil War and is “profoundly unlikely” to happen as part of Trump’s proposed initiative because he doesn’t need martial law to execute his deportation plans. Related Articles The VERIFY team works to separate fact from fiction so that you can understand what is true and false. Please consider subscribing to our daily newsletter , text alerts and our YouTube channel . You can also follow us on Snapchat , Instagram , Facebook and TikTok . Learn More » Follow Us Want something VERIFIED? Text: 202-410-8808
Deal on Elgin Marbles ‘still some distance’ away, says George OsborneBangladesh's interim government on Monday said it has sent a formal note to India, seeking extradition of former prime minister Sheikh Hasina , who was ousted through street protests and has been living in exile in India since August 5. ET Year-end Special Reads Gold outshines D-St with 20% returns, but 2025 may be different The year of the pause: How RBI maneuvered its policy in 2024 2024, the year India defeated China's salami-slicing strategy India acknowledged the Note Verbale but refused to comment at this stage. "We confirm that we have received a Note Verbale from the Bangladesh High Commission today (Monday) in connection with an extradition request. At this time, we have no comment to offer on this matter," sources said. The Bangladesh-based international crimes tribunal has already issued an arrest warrant against Hasina. "We have sent a note verbale to the Indian government, saying that Bangladesh wants her back here for the judicial process," foreign affairs adviser Touhid Hossain said. Interim government's home adviser Jahangir Alam also confirmed that his office has sent a letter to New Delhi to facilitate Hasina's extradition. He pointed out that an extradition treaty already existed between the two countries. 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"We must ensure justice in every killing. We will also ask India to send back fallen autocrat Sheikh Hasina," he had said. India maintains that it has a long tradition of receiving guests. Also, as per India-Bangladesh extradition treaty, requests "political in nature" cannot be enforced. Hasina has stayed in exile in the past too, from 1975 to 1982, following the assassination of her father and Bangladesh's founder Sheikh Mujibur Rahman. ET Year-end Special Reads An Indian's guide to moving abroad as the world looks for 'better' immigrants The year of the HNIs: How India's rich splurged in 2024 (You can now subscribe to our Economic Times WhatsApp channel )
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Jake Paul wants “to set the record straight,” when no straightening is required. If anyone would understand that we moved on from his “fight” against Mike Tyson, it should be Paul, who has made a fortune in the split-second entertainment world of social media. Paul’s Most Valuable Promotions issued a statement on Monday to dispel the rumor that his fight at AT&T Stadium on Nov. 15 against Tyson was rigged. The intention is to change the narrative of what was an embarrassing, if highly profitable, evening, and maintain the interest in Paul’s boxing career. The fight was not rigged, and no statement was needed. The fight was simply awful. The statement begins: “Following the wide circulation of incorrect and baseless claims that undermine the integrity of the Paul vs. Tyson event, Most Valuable Promotions (MVP) would like to set the record straight regarding the contractual agreements and the nature of the fight.” “Integrity” and “Tyson v. Paul” have no business of being in the same sentence. “Rigging a professional boxing match is a federal crime in the United States of America. Paul vs. Tyson was a professional match sanctioned by the Texas Department of Licensing and Regulations (TDLR). Both fighters in good faith performed to the best of their abilities with the goal of winning the fight,” the statement said. The Texas Department of Licensing and Regulations did sanction this kitten fight between a Disney kid turned YouTuber against a 58-year-old man with serious health issues. The fight had judges, and Paul was awarded a decision when none was needed. “Best of their abilities” is subjective. After landing one of his first punches, a left to Paul’s head, Tyson looked like he may have something in what was once one of the most feared boxers who ever lived. He flashed some of that old Tyson head movement, but mostly he looked like an old boxer. Because that’s what he is. The event quickly became an awkward money grab embarrassment, an indictment on the ticket-buying audience more than the promoters, who were doing their job, and leaving Netflix blushing over streaming issues. “There were absolutely no restrictions – contractual or otherwise – around either fighter. Each boxer was able to use his full arsenal to win the fight. Any agreement to the contrary would violate TDLR boxing rules,” the statement said. No restrictions is a liberal use of the term. The fight was eight rounds, not 10 or 12. The rounds lasted two minutes, not three. The gloves the boxers used were 14 oz., not 10. President Jimmy Carter could take a few shots from a 14 oz. glove. The statement continues, “Trash talk and speculation are common in sports, and athletes and promoters need to tolerate nonsensical commentary, jokes and opinions. But suggesting anything other than full effort from these fighters is not only naïve but an insult to the work they put into their craft and to the sport itself.” Accusations of rigged outcomes have been hurled at sporting events in the United States since the New York Nine defeated the Knickerbockers 23-1 in four innings, the first recorded baseball game ever played in America, in 1846. The New York Nine did not release a statement to the press that the game was rigged. Such accusations are hallow, but every now and then there is a Chicago Black Sox. “It is further illogical and inane that MVP, in the debut of a hopeful long-term partnership with the world’s biggest streamer—an organization that made its first-ever foray into live professional sports with Paul vs. Tyson—would even so much as consider such a perverse violation of the rules of competition,” the statement said. That’s not how rigged works. You don’t tell the broadcast partner that the live event is staged. Making sure his boss knows he’s working, MVP co-founder Nakisa Bidarian issued his own words to this statement, saying, “This is not the first time Jake Paul has faced unfounded skepticism or outright disbelief as a professional athlete, and frankly, the claim that his bout must have been rigged is just the latest backhanded compliment to come his way.” Paul, 27, beat a 58-year-old man in a fight that looked like two-hand touch. There is no compliment. “From day one in this sport, people have doubted his abilities — unable to reconcile how someone with his background has accomplished so much in such a short time. Jake has not only proven himself repeatedly, but he has continuously set historic records that speak for themselves,” Bidarian wrote. Paul has created a niche for himself in the sport by carefully fighting opponents who are names, but are not boxers. Older guys. Ex-UFC fighters looking for one more check. He’s also spent the necessary time to train, and learn how to box. He knows how to promote himself, and an event. He created “boxing entertainment,” but his fights are not traditional boxing matches. They are also not scripted WWE. “As long as Jake continues to exceed expectations, there will always be those who try to discredit his achievements.” Bidarian said. “We embrace the doubt — it only fuels Jake to work harder and achieve greater success.” Herein lies the “need” for this press statement. Paul wants to continue to fight, but not against fighters who may knock him out. Considering the type of money his fights have generated, he would have no problem finding a line of potential traditional opponents waiting to pummel him through the canvas. He has avoided real fighters for a reason. Because he’s smart. Because he can. Because there is a market for the fights he stages. The fallout from his bout against Tyson is that Paul could have unintentionally knocked out the audience for these matches that are staged, not rigged, which is really why he wants to “set the record straight.” ©2024 Fort Worth Star-Telegram. Visit star-telegram.com . Distributed by Tribune Content Agency, LLC.Queens Burn Injury Attorney Keetick L. Sanchez Releases Article Advocating for Burn Injury VictimsAP Sports SummaryBrief at 1:54 p.m. EST