Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Notice how Titus doesn't mention 2Q/16 results?

MJNA's Titus sure likes putting out the press releases, but have you noticed that he never mentions the actual performance of the company?

MJNA had $9.2M in 2015 revenue and will be lucky to break $7.5M in 2016. It hasn't had a profitable quarter in 2 1/2 years, and the share count has tripled since 2Q/14, to nearly 3B.

The market for CBD oil from industrial hemp has become much more competitive as many other suppliers have entered the market, but it's also being impacted by CBD from high-CBD marijuana strains becoming legal in more and more states. Other countries are also seeing more competition.

In Brazil, MJNA is competing against Epidiolex, an actual pharmeceutical drug, as well as other CBD suppliers.

It still has $9.5M in convertible notes on the books, which means a lot more dilution is coming.

The market cap should be well less than $50M, but as of right now, it's $150M, so there's a lot of room to fall to the approximately $0.02 it's worth.