Praetorian Property Inc (PRRE)

[CrownCannabis]

http://www.independent.co.uk/news/world/americas/afroman-records-positive-version-of-because-i-got-high-to-support-marijuana-legalisation-9799286.html

Funny...

[Badge714]

Smoke screen? Pot company backer accused of manipulating stock price of Cannabis-Rx

Marc Stiles Staff Writer- Puget Sound Business Journal
Sep 10, 2014, 2:38pm PDT Updated: Sep 10, 2014, 3:13pm PDT
http://www.bizjournals.com/seattle/blog/2014/09/smoke-screen-pot-company-backer-accused-of.html?ana=synd_fc&page=all

This spring a real estate executive arrived in Seattle to talk about how his company, Cannabis-Rx, was seeking to help purveyors of legal pot set up shop by providing them with commercial space, capital and advice.

It turns out that the company may be part of what federal authorities allege is a $500 million offshore asset protection, securities fraud and money laundering scheme. It's the latest case involving the fast-growing legal cannabis business, and has authorities warning investors to be careful to avoid fraud involving marijuana-related stocks.

Last month, a group of stock promoters with roots in Washington and Oregon were charged in federal court in Tacoma with securities fraud after manipulating stocks of several companies, including marijuana-related GrowLife Inc. and Hemp Inc.

On Tuesday, a multi-count indictment was unsealed in federal court in Brooklyn, N.Y., against six individual defendants and six corporate defendants. Loretta E. Lynch, U.S. Attorney for the Eastern District of New York, said the defendants set up "sham companies with figureheads at the helm in an attempt to deceive U.S. law enforcement and regulators and bragged about their scheme to their clients.”

One defendant is accused of manipulating the stock of Cannabis-Rx, a penny stock company that trades under the ticker symbol CANA, through a series of orchestrated transactions between March 27 and April 16. During this time, when CANA's stock price plummeted from $13.77 per share to 50 cents a share, Cannabis-Rx CEO Llorn Kylo was in Seattle and talked about his Arizona-based company in an interview with the Business Journal. CANA was trading at 29 cents a share Wednesday.

Cannabis-Rx had sent a press release to the Business Journal about a week before the interview, during which Kylo was articulate in spelling out the vision of his business, which he said had raised $30 million to invest in properties suited for the needs of dispensaries, medical clinics, growers and businesses that might supply products and services to the cannabis industry. At the time, he said his company didn't have any clients, but Kylo said he had a lot of interest.

“I could show you my inbox that has essentially exploded,” said Kylo, who said he was underwriting scores of deals. “I’ve probably got 100 deals on my desk,” he said, estimating that fewer than half are from Washington, where medical and recreational marijuana are legal.

Kylo, who was not among those indicted in New York, did not return a voice message that the Business Journal left for him Wednesday morning.

The indicted individuals are Robert Bandfield, a 70-year-old U.S. citizen; Andrew Godfrey, 51 and a citizen of Belize; Kelvin Leach, 34 and a citizen of the Bahamas; Rohn Knowles, 29 and a citizen of the Bahamas; Brian De Wit, 45 and a citizen of Canada; and Cem Can, also known as Jim Can, 44 and a citizen of Canada. Six corporate defendants were indicted: IPC Management Services, LLC; IPC Corporate Services Inc.; IPC Corporate Services LLC (collectively, IPC Corp); Titan International Securities, Inc. (Titan); Legacy Global Markets S.A. (Legacy); and Unicorn International Securities LLC (Unicorn).

The charges include conspiracy to commit securities fraud, tax fraud, and money laundering. Bandfield’s initial appearance for removal proceedings to the Eastern District of New York was scheduled for today in Miami. Authorities said they would seek extradition for the other individual defendants.

Authorities said that to facilitate their alleged interrelated schemes, the defendants created shell companies in Belize and Nevis, West Indies for the corrupt clients and placed nominees at the helm of these companies. This structure was designed to conceal the corrupt clients’ ownership interest in the stock of U.S. public companies, in violation of U.S. securities laws, and enable the corrupt investors to engage in trading under the nominees' names through brokerage firms also set up in Belize.

Authorities also said the defendants’ scheme enabled the U.S. corrupt clients to evade reporting requirements to the IRS by concealing the proceeds generated by the manipulated stock transactions through the shell companies and their nominees. Authorities added that at one point during the government’s investigation, Bandfield boasted to an undercover law enforcement agent that he had specifically designed this “slick” corporate structure to counter new federal laws.


Marc Stiles covers commercial real estate and government for the Puget Sound Business Journal.

Related links: Marijuana, Entrepreneurs, Public Companies

http://www.bizjournals.com/seattle/blog/2014/09/smoke-screen-pot-company-backer-accused-of.html?ana=synd_fc&page=all

[jr2wtr]

Wow...i live in manatee county...remember reading in local paper about mj co buying that property..thought it was inc# that bought it...

[scion]

Cannabis-Rx, with property in Manatee, named as part of securities fraud in federal indictment

By CHARLES SCHELLE
[e-mail] 10, 2014 Updated 17 hours ago
http://www.bradenton.com/2014/09/10/5350624_cannabis-rx-with-property-in-manatee.html?rh=1

MANATEE -- An Arizona company called Cannabis-Rx that bought property in Manatee County this year with hopes for a licensed marijuana facility is at the center of a stock scheme and federal indictment.

The FBI announced Tuesday six people were indicted by a federal grand jury in a $500 million offshore asset protection, securities fraud and money laundering scheme. Cannabis-Rx was created as a shell company, according to the FBI.

The FBI has charged individuals Robert Bandfield, 70; Andrew Godfrey, 51; Kevin Leach, 34; Rohn Knowels, 29; Brian De Wit, 45; and Cem Can aka Jim Can, 44, as well as corporate defendants IPC Management Services LLC; IPC Corporate Services Inc.; IPC Corporate Services LLC; Titan International Securities Inc; Legacy Global Markets S.S.; and Unicorn International Securities LLC.

They are charged with conspiracy to commit securities fraud, tax fraud and money laundering.

Banfield is a U.S. citizen and the government will seek extradition for all other defendants, who hail from Belize, the Bahamas and Canada.

The FBI said the defendants involved created shell companies in Belize and Nevis, West Indies, for their clients and placed shadow leaders at the top of the company to conceal the clients's stock ownership of a U.S. public company.

"As alleged, Bandfield and his co-conspirators devised not only a fraudulent scheme but an elaborate corporate structure based on lies and deceit

designed to enable U.S. citizens to evade and circumvent our securities and tax laws. They set up sham companies with figureheads at the helm in an attempt to deceive U.S. law enforcement and regulators and bragged about their scheme to their clients," United States Attorney Loretta E. Lynch said in a news release.

The indictment covers a $500 million scheme of creating an offshore safe haven, Lynch said. The scheme had these people create tax shelters and money laundering through the creation of shell companies to get rich, according to the FBI. More than 100 U.S. citizens and residents were part of what the FBI called "corrupt clients."

One of those companies created was Cannabis-RX, a penny stock traded under the symbol CANA, which the FBI said was involved in what's called a pump-and-dump scheme where the stock was artificially inflated. The nominee's name for the head of Cannabis-Rx was also set up for trading through Belize brokerage firms, according to the FBI.

Manatee County property

Cannabis-Rx bought three former buildings on 9.26 acres at 7150 15th St. E. on Jan. 26 once owned by boat manufacturers Genmar and Wellcraft. That $1.26 million transaction was paid by another company, Praetorian Capital, a wholly owned subsidiary. Praetorian was registered to another company that shared an address with Cannabis-Rx, Longview Real Estate Inc., according to Florida business filings.

The chief executive officer of the company, Llorn Kylo, a Canadian citizen, told the Bradenton Herald in April they would consider putting a licensed operating marijuana operation there but ideally had plans to hold on to the property, improve it and then sell it later this year.

The transactions involved for Cannabis-Rx took place between March 27 and April 16, according to the FBI, and on March 28, De Wit received at least five phone calls from the client to fraudulently trade the stock.

That was the first time the CANA stock was traded since July 2, 2013, according to the FBI when it had 189,800 shares. The stock fell from $13.77 per share on March 27 to 50 cents per share April 16, according to the FBI.

"As alleged, the defendants concocted an intricate scheme using sham companies to make money while repeatedly evading and violating U.S. securities and tax laws. The indictment of these defendants should serve as a stern reminder that such greed-based behavior comes at a cost. The FBI will continue to use its investigative expertise in working with law enforcement partners to identify, disrupt, and dismantle sophisticated fraud schemes to ensure the integrity and transparency of our financial markets," said FBI Assistant Director-in-Charge George Venizelos.

Countering new law

One of the other schemes to avoid reporting to the IRS included having a client receive an IRS form for reporting proceeds signed by Godfrey as the nominee for the shell company. Bandfield told an undercover agent he created this "slick" corporate structure to counter a new law under President Barack Obama, the Foreign Account Tax Compliance Act, according to the FBI.

"The investigation of offshore tax evasion and money laundering are top priorities for IRS-Criminal Investigation, and we are committed to using all of our enforcement tools to stop this abuse. The enactment of the Foreign Account Tax Compliance Act is yet another example of how it is becoming more and more risky for U.S. taxpayers to hide their money globally. Moreover, this partnership of IRS-CI, the FBI, HSI, and the U.S. Attorney's Office demonstrates the government's resolve to combat international crime," said IRS Criminal Investigations Acting Special Agent-in-Charge Shantelle Kitchen.

Charles Schelle, Herald business reporter, can be reached at 941-745-7095. Follow him on Twitter @ImYourChuck.

http://www.bradenton.com/2014/09/10/5350624_cannabis-rx-with-property-in-manatee.html?rh=1#storylink=cpy

[Chefboy69]

interesting read...

http://www.stockwatch.com/News/Item.aspx?bid=Z-C:*SEC-2211159&symbol=*SEC®ion=C

[newmedman]

To facilitate these interrelated schemes, the defendants created shell companies in Belize and Nevis, West Indies, for the corrupt clients and placed nominees at the helm of these companies. This structure was designed to conceal the corrupt clients’ ownership interest in the stock of U.S. public companies, in violation of U.S. securities laws, and enable the corrupt investors to engage in trading under the nominee’s names through brokerage firms also set up in Belize. For example, this structure enabled the defendant De Wit and a U.S. corrupt client to manipulate the stock of Cannabis-Rx, Inc., a microcap or penny stock company which traded under the ticker symbol CANA, through a series of orchestrated transactions between March 27, 2014 and April 16, 2014. On March 28, 2014 alone, De Wit received at least five telephone calls from the corrupt client with specific instructions to fraudulently orchestrate the trading of CANA’s stock. That day, CANA’s stock, which had not traded since July 2, 2013, had a trading volume of 189,800 shares. Ultimately, CANA’s stock price plummeted from $13.77 per share on March 27, 2014 to $0.50 per share on April 16, 2014.

Six Corporate Executives And Six Corporate Entities Indicted For Orchestrating A $500 Million Offshore Asset Protection, Securities Fraud, And Money Laundering Scheme

http://www.justice.gov/usao/nye/pr/September14/2014Sep9.php

[236T568]

CANA files 10Q with SEC for 2014 2nd quarter


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10155080

for the 3 months ending June 30, 2014:

REVENUES $ 2,776,131

GROSS PROFIT $ 202,349

NET LOSS $ (101,324)


As of June 30, 2014:

Cash $ 121,893

Real estate inventory 16,023,557

Total Liabilities 16,758,760

Total Stockholders' Deficit (525,461 )

[bighudson]

Does this trade on the pinks?

[bighudson]

I'm thinking of accumulating here in anticipation of a run going into fall in all MJ stocks.

[bighudson]

Looks like this stock lags the other MJ stocks despite being stronger financially.

[Bvolny]

TheStreet.com interviewed CEO of Cannabis-RX, Llorn Kylo - http://www.thestreet.com/video/12741619/cannabis-rx-is-growing-the-field-of-marijuana-real-estate.html

[Bvolny]

Good article on CANA - http://www.bradenton.com/2014/06/06/5191163/marijuana-grow-warehouses-moving.html?sp=%2F99%2F100%2F&ihp=1

[Hemp2121]

Might have to buy into this stock and hold for some years. Might just be worth the wait in 10yrs.

[matticus22]

$CANA

This stock is gold!!!

[Jim Herb]

CANA is one of if not the best MMJ play out. They may end up being brought by FB or Google, log it down I said it first!!!! BTW Financials come out 5/22 Yayyyy!!!!! WEEDMAPS!!!!!

[ProfitSnatcher]

No volume. Position does not move.

[GreenShootz]

Bought a small position in CANA here

[MsCoffeenut333]

Public Filings
http://www.sec.gov/cgi-bin/browse-edgar?company=cannabis-rx&owner=exclude&action=getcompany

[MsCoffeenut333]

Financing

Cannabis-Rx will provide financing options with licensed or existing operators within the marijuana industry that require start-up, operating or expansion capital, i.e. we recently invested in a licensed grow operation that needed funding to finish construction on their facility in order to commence operations.

We will also provide capital to current and potential tenants of our buildings that require funding to refinance current debt, as long as they meet our underwriting criteria.

Additionally, we offer sale-and-leaseback financing arrangements with tenant purchase options. These types of financing solutions provide flexibility for our tenants long-term, while capitalizing their operations.

[MsCoffeenut333]

How Big is the Opportunity?



As a business opportunity marijuana legalization spawned a mini gold rush creating an entire industry from legal growing operations to secondary and tertiary businesses to support the conversion of this industry from illegal to legal.

MMJ Business Daily has done a good job of analyzing the data and projects that the current size of the legal marijuana industry in the US (only Washington and Colorado) is about $1.5 Billion and will grow to $6.0 Billion by 2018.

Keep in mind these are only the revenues for Colorado and Washington, currently the only two states offering full legalization. MMJ projects that the size of the total US market if legalized would be $46 Billion. Globally, this market is even larger with the United Nations (in a report from 2005) stating there are nearly 150 million active marijuana smokers in the world expending over $150 billion a year.

http://cannabis-rx.co/opportunity.html

[MsCoffeenut333]

CANA CEO

http://cannabis-rx.co/whoweare.html

[MsCoffeenut333]

Florida Gov. Rick Scott Says He'll Sign 'Charlotte's Web' Medical Marijuana Bill

http://www.huffingtonpost.com/2014/05/01/rick-scott-medical-marijuana_n_5251056.html

Since last summer, more than 60 businesses have incorporated in Florida with names suggesting the founders intend to get into the medical marijuana business, and the vast majority filed incorporation papers just in the past two months.

The companies appear to be lining up to offer everything from plant cultivation to equipment supply, medical treatment to legal advice, research and development to retail dispensing, and financial consulting to security.


http://www.chicagotribune.com/topic/os-medical-marijuana-business-20140427,0,2890577.story

[MsCoffeenut333]

Cannabis Firm Buys 3 Buildings in Florida

The publicly traded firm Cannabis RX has acquired three commercial buildings in Florida that it hopes to lease or sell to medical marijuana cultivation operations if the state legalizes MMJ this fall.

The buildings – located on 9 acres of land near Sarasota-Bradenton International Airport – total 209,000 square feet of space, which is roughly the size of three or four supermarkets.

The Arizona-based company reportedly shelled out $1.26 million for the properties.


“Given the current push to legalize and regulate medicinal marijuana in Florida, we believe this well located property would serve as an ideal location for a licensed grow facility and/or distribution center,” said Llorn Kylo, chief executive officer of Cannabis Rx, which trades on the over-the-counter markets under the symbol CANA.

[Medflower]

http://www.businessweek.com/news/2014-05-05/ganja-gets-warehouse-owners-buzzing-as-colorado-pot-farms-thrive#p1

[ProfitSnatcher]

Cana is spiking on news.

[XYREUS]

MMJ APPROVED FLORIDA!!! CANNA IS IN FLORIDA!!!

Just approved guys!!! All over the news!!! This company has 3 buildings down there!!! Target market!!!

[JohnCM]

I like the concept. Buy on dips and leave at 40 cents, or else ride.

[ProfitSnatcher]

Virtually no volume....

[Medflower]

Looking like it matticus, more properties lower mkt cap!

[matticus22]

$CANA

Is a winna!!!

[Medflower]

Impressive purchases!!

[tste9]

John; nice to see ya again. what do you think of this puppy.

[tste9]

Thanks for your posts I'm sniffing around for a entry into these pot stocks. This one caught my eye because I live in Bradenton.fl. and know of this building. Is this land/real-estate co. on the ups or what? thanks tom.

[tste9]

Anyone see the new purchase here in my home town Bradenton fl. by CANA.

[TEFFY]

nice buy spot bro ,very nice. I was in $1.00 and out $1.05, kinda funny actually ,just had to go because I was not liking the price action

I hope you do well and bank big.

[matticus22]

I know.
I bought the dip at .40
So it's not effecting me
Yet. But looks to be recovering

[TEFFY]

down over 50% and up a couple % here and there? Okay it's coming back up

horrible price action in cana, 3rd parties makin money and retail not

just the obvious facts

[NewBroker1982]

Pump & dumps tweeted 97% percent of CANA trades were losings trades today.. Info in nighty..

[NewBroker1982]

It cost 1.8M... Dated 3/20 just before the tumble down here... Since then we bottomed at .36.. MM's have changed from running it up and down each day to holding in tighter. Base has moved up each day.. Today .47 went to .52.. Yesterday .465 to .51 and so on..

[BigBill445]

1.8 mil was spent on that promotion you found

[Phin]

Have people here seen this?
http://canaresearch.com/report/index.html

[Phin]

This is a great company with a solid business plan, dont know why there arent more ppl on this board?

[Phin]

Today looks like it has great price action!

[matticus22]

$CANA

I love it! It's coming back up!

[TEFFY]

The 3rd party is the person(s) that paid fer the awareness and the person(s) that have dumped like little piggies. (the guys with the low cost shares that didn't buyem In the market)

The CANA price action remains horrible. Just the truth.

[NewBroker1982]

FANC & DLNY are MM's at .51.. The past week once they get touched they bring this down...

LATF now .4511 & .495 plays games still

[NewBroker1982]

MM Support at .40 appears to be moving up..43 now .45.. LAFC has been hostile the past few days on ask.. Nows he is on bid as well

[Roadtojourney]

What kind of a 3rd party is this? from 13 to .40 I still believe a correction here though or is this a correction already?

[TEFFY]

a hunk of JUNK at best, CANA 3rd party pigs killing the action daily.

[TEFFY]

CANA price action is horrible, this P&D is only giving the greedy 3rd parties money and not offering the public OPPORTUNITY.

I sold when we were still over $1.00 and took a baby profit, been waiting to get back in but the trading is not indicitve of anything good

With the talked about $1.8M I had hoped fer much better action.


I hope you find a good grow spot in Fla, only a matter of time before a vote passes, I can't wait ,I live in Fla and love MJ