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Tuesday, July 29, 2014 4:00:38 PM
As the accredited investors who bought for $1 sell their shares, the price of CannaVest stock falls to within the range of the Phytosphere deal's $4.50 - $6.
At today's close of $5.76, the value of the remaining shares is less than $31M. Remember, the deal was originally claimed to be worth $35M.
MJNA won't be able to sell its shares for anything close to the current price, and I can see a scenario where MJNA will lose money on the deal.
Haven't done all the math yet, but MJNA's book value is probably now below $0.07.
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