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The more DD I do the more I think this the best MSO
Simply FALSE. They have realized revenue from their first grow and they have millions from their new JV partner for the show grow in Vegas.
A lot has changed since then and will be reflected in the upcoming 10 q’s. But I can see the motive here, maybe “we” can create a nice chance for me.
“We”, that’s interesting considering other recent posts here. The most recent filing is from last year. Much has developed since then, the 10q’s should becoming soon. Yes, it’s expensive to get going, that is why they are using partnerships to build out.
ugh, please just say what you mean, I had a hard time understanding your the point of your message. You are exaggerating just a little bit but I suggest you contact them. Do you need their email addresses?
https://www.nevada-demographics.com/counties_by_population
It sounds like you are saying their press release is false. Many people have visited their grow. There aree pictures and videos on Facebook They use a unique green house system, You contact the company for more detailed information about their grow methods and how they are able to grow out doors... it’s a very controlled environment. The address for the show grow is in the 10k. This is the twitter of a corporate officer ( he could use a lesson on how twitter works, haha) :
Red Earth, LLC, a subsidiary of MJ Holdings, Inc, was unanimously granted a special use permit last night by the City of Las Vegas City Council to commence cannabis cultivation operations at its Las Vegas facility with our partner, Element NV.
— Terrence Tierney (@TerryTM61) October 9, 2019
http://www.globenewswire.com/news-release/2019/10/17/1931313/0/en/MJ-Holdings-Releases-Audited-Financial-Statements.html
Las Vegas, NV, Oct. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MJ Holdings, Inc. (OTC Pink: MJNE) (the “Company”), a leader in the Nevada cannabis market, announces that, on Wednesday, October 16, 2019, we have filed our 2018 audited financial statements on Form 10-K with the U.S. Securities and Exchange Commission. The Company’s management is now diligently working on preparing and filing our quarterly financial reports for the first half of 2019.
Company CFO Laurence Ruhe commented, “While the task of preparing and filing our financial statements has been a long and challenging process, we appreciate the thorough manner in which our independent accountants conducted their audit.”
The Company’s fixed assets increased by more than $2.5 million over the prior year, mainly attributable to the investment in our three-acre cultivation facility. In late December of last year, the Company completed the harvest of the first ever outdoor marijuana grow in Nevada history. We are preparing to harvest our second crop at the end of this month as we continue to test different marijuana strains to determine which will perform best in the unique Nevada desert environment. We will report a significant increase in revenues during the first half of 2019 and a marked increase to our balance sheet due primarily to our acquisition of an additional 260 acres of farmland in the Amargosa Valley of Nevada.
The continuing support of our shareholders and investors has allowed us to raise more than $13.5 million since December of 2017, which has been utilized towards increasing our cultivation capacity and acquiring related assets, including an additional cultivation license and a production license. We have commenced construction of a five acre Cravo® cultivation system on a portion of our 260-acre farm. Upon completion, this project will bring our 2020 outdoor grow capacity to over 300,000 sq.ft. Additionally, we will be investing more than $3.5 million to construct a state-of-the-art indoor grow facility at our 17,000 sq.ft. Las Vegas location. It is our intention to continue to make infrastructure investments to increase our production capabilities, thereby generating higher revenues on our path to profitability.
The Company’s fixed assets increased by more than $2.5 million over the prior year, mainly attributable to the investment in our three-acre cultivation facility. In late December of last year, the Company completed the harvest of the first ever outdoor marijuana grow in Nevada history. We are preparing to harvest our second crop at the end of this month as we continue to test different marijuana strains to determine which will perform best in the unique Nevada desert environment. We will report a significant increase in revenues during the first half of 2019 and a marked increase to our balance sheet due primarily to our acquisition of an additional 260 acres of farmland in the Amargosa Valley of Nevada.
The continuing support of our shareholders and investors has allowed us to raise more than $13.5 million since December of 2017, which has been utilized towards increasing our cultivation capacity and acquiring related assets, including an additional cultivation license and a production license. We have commenced construction of a five acre Cravo® cultivation system on a portion of our 260-acre farm. Upon completion, this project will bring our 2020 outdoor grow capacity to over 300,000 sq.ft. Additionally, we will be investing more than $3.5 million to construct a state-of-the-art indoor grow facility at our 17,000 sq.ft. Las Vegas location. It is our intention to continue to make infrastructure investments to increase our production capabilities, thereby generating higher revenues on our path to profitability.
Mega pumper bux blocked me along time ago. Guy is a con man
— Nick kehr (@sonahtnenab) October 16, 2019
The share price was much higher at that time. I’ll have to go back and look but somewhere between .75 and $1 so the lender was getting a significant discount on like 15 million shares which would be impossible to accumulate buying retail at that price at that time.
The 10k was from last year man. That is BEFORE they realized any revenue from their first grow.
Who is Andrew?
More like a shallow dive. Again, they have raised over 6 million dollars in 2019, they are closing on a partnership to commence the show grow in Vegas. I know they are partnered with Acres and have strong connections with a large MSO that will likely result in another large partnership to develop their 260 acre property. I also know they have been delayed by the stay on licensing in Nevada due to on going litigation which they are a part of claiming the licensing process wasn’t fair.
That is NOT death spiral financing. You know good and well that all early stage companies dilute. MJNE has plenty of cash but someone is spreading false rumors about bankruptcy. Who would do such a thing? Do you have any idea why someone would spread false rumors?
Since this report they have harvested and sold their first crop and are about to harvest their 2nd grow. They have raised over 6 million dollars thru the sale of stock at a price of .50 and they are about to close their JV with element where they will receive another huge payment.
As of September 30, 2019, we have sold 12,850,000 shares for total proceeds of $6,425,000.
I heard MJNE was getting bought out by a huge company for 3 billion. See how easy that is.
In the case of a company with securities quoted in an over the counter market, like the OTC Bulletin Board, there are no listing requirements. However broker-dealers participating in the OTC Bulletin Board markets are members, and governed by the rules, of the Financial Industry Regulatory Authority (FINRA). FINRA Rule 6530(e) prohibits members from quoting the securities of a company that has failed to timely file a required report three times in any 2-year period, or that has had its securities removed from the OTC Bulletin Board quotation service twice in a 2-year period for failing to file a required report within 30 days of the filing deadline. Once a company’s securities are prohibited from being quoted on the OTC Bulletin Board the company must timely file all required reports for a period of one year before it can regain eligibility.
If you Don’t know, MJNE is working with Marcum to file audited financials for all of its previous reports, including the unaudited filings. We should be hearing something soon about the permit for the Show Grow in Vegas and the closing of the partnership with Element. Financials could be filed at any time.
Computerbux! Been a long time. So you’re staying far away from this one? First time ever you’ve heard bad things that might be true about a penny stock? So kind of bad things are you hearing buddy?
Suspended stocks resume trading after 10 days. Delisting happens For OTC companies that have failed to file timely reports three or more times in a two-year period cannot be quoted by FINRA-member broker-dealers. MJNE isn’t there yet.
Thanks! Please post it here when it's available.
Isn't the float 54 million?
I see an estimated 2,500,000 shares of open short interest.
All good. IS THIS THE BOTTOM?
Dude! That is a totally racist comment.
IPO closed at 1.11 on Sept 8 2016 and 1.13ish for 3 days after that. Those are the last lines of historical price support. After that, pray. I could see it going to $1 but hope not, my avg is about 1.7.
Yes, he really messed up by not going bigger on financing when the price was higher. It is where it is now, they have money in place to keep the lights on and there is glimmer of hope they will be able to refi if the safe act passes. I have one simple question, IS THIS THE BOTTOM? Or will the price wash one more time down to about .90? What are your thoughts?
and why is this thing so broken? are they going bankrupt or something?
Has the company addressed it's plans for the goodwill it carries? does it plan to write any of it down?
And then one day everything changed...
I hear you though.... but I think we're on the cusp of a turn around.
Good luck!
MJNE bought back 20,000,000 shares in April, however, it hasn't been updated and won't be until they are current which could happened any day now.
https://www.globenewswire.com/news-release/2019/04/17/1805536/0/en/MJ-Holdings-Buys-Back-20-Million-Common-Shares-Raises-Over-5-5M.html
09.13.2019 Replanting Autoflower underway at MJ Holdings
Not even a week after Autoflower harvesting, MJ Holdings, has begun replanting.
https://mjholdingsinc.com/uncategorized/replanting-autoflower-underway-at-mj-holdings/
The longer the base the more they chase.
Revenues could be upwards of 20 million and we could see a profitable report as well. The reason the financials are late is because their previous firm decided to no longer do MJ companies and they had to find both a new auditor and a new accountant. The anticipation of these upcoming financials is huge.
Here's a fun fact about this company you probably don't know... the CEO, yeah, he's the guy who sold Acerage to Curaleaf. I think there are quite a few surprises in store here.
AUDITED financials expected at anytime and at latest by October 8th. Should reflect significant revenues for the sale of 1st crop harvested in December.