Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

I don't worry about the Quality Control issues

IMO, the QC issues are secondary to cost of the product and bad management/corporate governance practices.

We know that CBD from industrial hemp is expensive, but since it's technically legal and some desperate people will want it, there will always be somewhat of a market.

The problem MJNA has is that it has lousy corporate governance, with has resulted in the following:

1) Termination of the CannaVest distribution agreement with HempMeds due to claimed non-performance by MJNA.
2) Collapse of the agreement with Left Bank/Dixie Holdings, leaving MJNA with the far less profitable Dixie Botanicals than owning 60% of the wildly successful Dixie Elixirs, again alleged to be caused by non-performance by MJNA.
3) The promised two-year audit that the company mentioned in filing after filing until they reached the period where they had to "fish or cut bait", at which time it disappeared from the filings
4) The maybe she is, maybe she isn't (selling) aspect of Michelle Sides' form 144 filings.
5) The non-disclosure of nearly $1M in convertible notes from Roen Ventures that eventually resulted in MJNA having to pay out 45M shares under a court order.
6) The denial for many months that the Articles of Correction filed in 2013 meant that MJNA had 5B Authorized Shares, not the completely fictional "950M Shares capped by management".

And that's just from memory.

Here's a question about the recent KannaWay announcement:

If beneficial shareholders hold less than 50% of the stock, why was there no mention of a plan to hold a shareholder vote to approve the acquisition?