MJ Biotech Inc. (fka MJTV)

[Decatsmeow]

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Business Information:
Michael James Enterprises, Inc.
Ticker: MJTV
PPS: 0.001762 a/o 8/13/2017
Up 0.00076 or +76.20%

Market Value: $41,296 a/o August 11, 2017
Authorized Shares: 980,000,000 a/o June 06, 2017
Outstanding Shares: 23,463,424 a/o June 06, 2017
Float: 15,000,000 a/o June 06, 2017

760 Route 10 West
Suite 203
Whippany, NJ 07981

Website: http://www.mjbiotech.com
Phone: [phone]
Email: [e-mail]
Fundamental Analysis:
According to OTCMarkets, Michael James Enterprises, Inc. identifies and engages in the development and marketing of consumer products. They are developing six essential oils and other ingredients. The primary product will be VOLUPTAS and is expected to be introduced into the market by the end of 2017 as a female sexual arousal booster. On August 4, 2016, Michael James Enterprises, Inc. also acquired the exclusive rights to the science for the treatment of sleep Apnea utilizing Dronabinal with one other active ingredient.

Michael James Enterprises, Inc.’s Management:
Mr. James M. Farinella, Chairman, Chief Executive Officer & CFO
Ms. Gina Morreale, COO & Director
Ryan Summers, Creative Director

Statistics:
Market Cap (Intraday): 41.34K
Beta: 5.76
52-Week Change: -99.00%
52-Week High: 0.18
52-Week Low: 0.001
50-Day Moving Average: 0.001997
200-Day Moving Average: 0.009871
Average Volume (3 Month): 290.47k
Average Volume (10 Day): 487.23k

Market Analysis:
According to Grand View Research, the U.S. essential oil market size was valued at $3.36 billion in 2015 and is expected to witness an estimated growth rate of 9.0% from 2016 to 2024. Around 200 different types of essential oils are consumed all over the world annually, and the U.S. plays a significant role in overall demand. Increasing consumer disposable incomes and rapid expansion of food and beverage industries are expected to contribute to the demand for natural fragrances and flavors produced.

News:
MJTV looks to be very busy with many articles being released between 12/10/15 and 3/28/17. Interestingly though, we were not able to find any news past the date of 3/28/17.

On 12/15/16, Michael James Enterprises is pleased to report that the company has begun to generate revenue with the release of its first product LUNA. As a proof of concept and market test, MJTV bottled 50 units of LUNA and offered it for sale at a promotional price of $19.95. All 50 bottles sold out within three days with numerous requests for more of the LUNA product.

On 12/22/16, Michael James Enterprises, Inc. reduced their Outstanding Shares by over 40% retiring 9,000,000 Shares from outstanding of 21,659,603 to 12,659,603.

On 1/17/17, Michael James Enterprises, Inc. is pleased to report that it has eliminated more than $1,000,000 of debt and liabilities with the spinoff of BullsNBears Holdings, Inc. on December 27, 2016.

On 2/8/2017, Michael James enterprises, Inc. is extremely pleased to report that as promised on December 22, 2016, CEO, James M. Farinella last week retired 8,425,000 shares. This retiring of shares had the effect of reducing the outstanding number of shares from 25,029,572 down to 16,604,572, a 33.6% reduction.

On 3/9/17, Michael James Enterprises, Inc. is extremely pleased to report that approximately two weeks ago it filed for patent protection for VOLUPTAS.

On 3/13/17, Michael James Enterprises, Inc. is happy to report that it has entered into a design and development agreement with Glove Medical Tech, Inc. of Houston, Texas for the revolutionary female sexual booster VOLUPTAS.

On 3/20/17, Michael James enterprises, Inc. more than doubled the number of units of LUNA sold in the first quarter of 2017.

On 3/22/17, Michael James Enterprises, Inc. is pleased to report that the company has developed two more essential oil alchemy products and is in the final test marketing for the both products. This will bring MJTV essential oil product line to 3 with an additional two more essential oil mixtures to come shortly bringing the total to 5.

On 3/28/17, Michael James Enterprises, Inc. launches, “What is a Beautiful Woman” branding and marketing campaign in advance of the VOLUPTAS market launch.

Filings and Disclosures:
Looking at the 10-Q from June 14, 2017, we first see Michael James Enterprises, Inc.’s’ balance sheets (unaudited). We see that the company has $7,070 in cash and $1,000 for accounts receivable for March 31, 2017. Total Current Liabilities for the company are $1,054,958. Total stockholders’ Equity is at (1,046,888), and total liabilities and stockholders’ equity (DEFICIT) is at $8,070.

Now looking at the consolidated statements of operations (unaudited), we see that the company has no revenue. The company has accumulated $5,669,646 for their total operating expenses. They had a loss of $157,476 for their total other Income (Expenses), bringing their net loss to (5,827,122).

On July 10, 2017, the company released an 8-K stating that on June 27, 2017, Raj Pamnani and James Farinella are resigning from their positions as directors and officers of the company. On June 28, 2017, the company, by written direction of the sole Director, appointed as a Director of the Company Maxine Pierson which was accepted by Ms. Pierson. Ms. Pierson was also elected as Chief Executive Officer. The change of the officers and directors became effective as of July 1, 2017.

On July 31, 2017, the company released an 8-k stating that on July 26, 2017, MJ BIOTECH, INC., entered into a “Binding Letter of Agreement” for the acquisition of Zen Hero, Inc. d/b/a Zen’s Tea House, ZEN HERO business is a formulator of Organic Teas for sale to the public and other businesses. The transaction is anticipated to close within ninety (90) days. The proposed purchase price is a combination of cash ($750,000) and stocks. $400,000 is payable on closing with the balance to be paid based on performance milestones.

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