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Thursday, May 14, 2015 10:56:58 AM
Don't have much time for analysis this morning, so some quick things:
1) They apparently closed the KannaWay deal in Dec, 2014, paying 833,333,333 shares
2) The OS is now 1.783B shares
3) 2014 revenue $14.5M
4) Net operating loss ($2.6M)
5) A $1.47M inventory writedown brings the Net Loss to $4.49M
6) They're valuing Kannaway on the Balance Sheet at $100M, which seems ludicrous
7) There are a fair number of convertible notes on the balance sheet
On a positive note, there seems to be more disclosure in the document of the notes and legal cases.
Here's the link to the filing:
http://www.otcmarkets.com/financialReportViewer?symbol=MJNA&id=138119
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