DD Support Board and Research Team

[Alan Brochstein]

I did speak to Bill. I asked him to give me the name of the person (after he played the voice mail) - never got it. I spoke to John Germinario in Denver at WeedStock and also emailed him - have never been able to get their contacts.

FINRA first warned very near the lows of the market last summer. I called out the CannaVest scam with MJNA in February and started pointing at other companies like HEMP, AVTC and Medbox before then. FINRA then waited until after the huge pop in January to warn again. To be fair, I warned then too. Some made fun of me, but this is what I said:

http://seekingalpha.com/article/1936211-capitalizing-on-cannabis-dont-get-caught-in-a-green-crush

Conclusion

Pot is hot, no doubt. The market is being flooded with demand for a limited supply of shares. Worse, the stocks that investors can buy have weak fundamentals historically,with some having questionable business models and terrible transparency. I have shared several strategies for those invested in the sector to consider, and new investors should take time to get to know the companies before just jumping in.

FINRA was definitely late to the game - it was November when they started approaching the companies. I am glad to see some clean-up, but I see so many that haven't been suspended that should be. Have any of you looked into MJNA? I still can't believe that they stated this and then pretended like it never happened:

Corporate Revenue Guidance for 2013-2014

The company is pleased to issue its first ever Sales Guidance and Outlook for 2013-2014. The company forecasts revenue for 2013 to be $47,000,000 with operating cash flows of $32,000,000 and has the potential to increase revenues in 2014 to $155,000,000 with operating cash flows of approximately $95,000,000.

http://www.otcmarkets.com/stock/MJNA/news/Medical-Marijuana--Inc--Releases-2012-Annual-Share-Holders-Report-and-First-Ever-Corporate-Revenue-Forecasts?id=58912&b=y


If I can get time, I am going to spend some time discussing some other big problems at MJNA. It, along with HEMP and ERBB, are a huge embarrassment to the sector in my view.