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It is Rather Suspect
Tamar Wise is a clown. Her statements regarding MJNA are highly unprofessional. In fact, most executive and R&D people are required to sign non-competitive clauses in their employment contracts that forbid the person from speaking about their previous employer and even forbidding them from taking a job with a competitor for a certain time frame. As a new employer, I would terminate Ms. Wise effective immediately before her first day of work because what is to say she wouldn't do the same to a new company if terminated. I'm all for disclosing potentially dangerous company secrets should consumers be in harm but Tamar's allegations are highly subjective, exceptionally unprofessional and truly ill timed as it comes several months AFTER her termination, just as she starts a new job with a competitor.
This business is rife with clowns, from executives to product R&D to supposed analysts who cover the industry. Maybe 5 years from now things will be a little more legit but until then, I feel like we are watching a circus
Det Thorne, Lawsuits Are a Business Norm
I grew up in a family of corporate lawyers, 2 of whom have looked over the brief. Unfortunately lawsuits like these have become a common business practice and the filing reeks of a disgruntled partnership that neither party is mature enough to resolve or dissolve without raising a stink. It appears that Red Dice wants to get out of their relationship with MJNA which is somewhat ironic as recreational cannabis becomes legal in CO. Suppliers do this all the time to GM, Ford and Apple.
What the brief does not answer is MJNAs position, so I find it somewhat funny that a "professional" analyst is making all sorts of accusations without hearing from all parties but then again, several months ago the same "professional" started he didn't need to contact MJNA directly to clear up certain questions.
I'll wait until MJNA responds to the suit before getting my undies in a bunch. Until then, heresay, conjecture and random speculation may make interesting blog fodder but it doesn't provide any unique insight. Let's not forget Ms. Sides is an attorney and knows how to play this game.
A "tip" is what this junk is all based on? Seriously? If it were anything significant, there wouldn't be an article. Actionable tips are not posted on message boards.
Another MJNA Hatchet Job
Purely editorialized nonsense regarding MJNA. Firstly, ANY article that has a question for a title is not "journalism". It is purely editorialized, opinion based nonsense. Secondly, MJNA is a stinker right now as anyone with 2 eyes can see but is this really a shocker. I'll admit I'm new to the penny game but I've been playing in the big leagues for 20+ years and in the MJ game for even longer. What I have seen with MMJ stocks has been repeated yearly for the past 3 years; the stocks pop in the first quarter of the year followed by a fade throughout the year. CB!S did it in 2012 with a pop to .24 from .01, MJNA did twice that in 2013. My strategy of establishing positions in MMJ companies is complete, selling the equities at big rips and holding the paid for positions. This has made me carefree towards the ups and downs of the positions but it has helped me see through the bs.
Back in March, I posted that MJNA would fade lower for the year and the stock has done just that. The fade has been accelerated by numerous, sensational attacks by individuals seeking to promote personal outlets. I'm not posting to sell hack articles or promote websites or because I'm an internet troll.
I just firmly believe in the health benefits of cannabis and am thrilled at the opportunity to legally invest in the market. MJNA has products. MJNA personnel issues and corporate governance issues, but the circus that has ensued on behalf of the small group of detractors will not be what makes me liquidate my position. Not ONCE has any Seeking Alpha article disclosed or uncovered info that is not readily available or already written on the wall.
I have made contact with Mr. Keber and will be meeting with him in Denver this January. While I will not disclose details here, I will keep everyone posted
FINRA is a Joke, SEC No Better
Where was FINRA during the 2008 collapse? Why did they not have any warnings about mortgage security fraud or predatory lending? And where was FINRA during the Enron, WorldCom, Madoff and so many other scams of the past decade? Or where was the SEC on those issues?
I wouldn't put too much on FINRA's statements regarding MJNA and the marijuana industry. Let's not forget the US govt has used every public and private sector means to supress cannabis.
I also have an employee who's fiancé works at FINRA. They are auditing a company in Orange County but the FINRA audit team is bickering so badly about personal petty squabbles that 2 of the women refuse to share a car and can hardly be in the same room together. Real pros they are.
Well I'm Upset MJ is Called a Drug
I've seen THC and CBDs help terminally ill friends by reducing effects of chemo and incredible powerful anti-AIDS/anti-cancer medication. I've never seen cocaine do that. So why is it so bad that this plant that has been classified as one of the more dangerous illicit substances, is now being referred to as medicine considering it is a "drug" after all.
Also how about talking to some disgruntled Starbucks employees or McDonalds employees? Do you think they all have glowing things to say about this organizations? I'm not shocked an ex-MJNA employee is bad mouthing the company
Earnings List Retorts and Speculations
I'd expect MJNA to come out with a press release soon but let's have some fun with this. I'm pretty impressed with the HempMeds numbers as they indicate a possible multi-million $ annual revenue stream. Nevertheless, I have my concerns going forward so here is my take
1. Who knows about the RDH accounting or lack thereof? Perhaps MJNA is pulling in THC based revenue from Dixie and the company does not want to disclose the income. RDH is a privately held company and their revenues come from legally questionable sources so perhaps there is some caution in reporting income.
2. The Tonaquint loan is interesting. MJNA has the collateral for such venture without the avenues you suggest. I'd like to at least hear the issue addressed in an upcoming PR, more so what MJNA plans to do with the cash.
3. The valuation based on CANV shares is not ideal but MJNA is also building brand value. HempMeds has done a pretty spectacular job promoting products. If MJNA drew $250k in 1/2 quarter from HempMeds, spread that out for a full quarter over a full year, and that adds value to the company.
4. A rising tide will lift all boats. Just like the MJNA/CANV valuation, RDH and CanChew have a stake in trying to create value for MJNA, in turn creating value and possible revenue for themselves.
5. Seems like a simple name change to me. Extract Development Marketing sounds like a more specific designation of R&D.
6. The share structure is a bit of a mess or at least according to the speculation here. Yahoo, Google, ETrade, Merrill Lynch all have different o/s counts between 850m-1.2b but that is often true for many other stocks, including blue chips. MJNA has addressed the issue and it is only here that there remains speculation.
7. I'm not too worried about the issuance of 1m shares. Maybe there will be an answer to that in a PR.
8. If the lawsuit has merit it will probably be addressed. Who knows what this legal play is about? I'm sure MJNA will countersue if it comes to a head but I doubt any of these companies want to spend lots of money on legal fees.
All That DD and This Is the Result
"No call on the stock except that I don't think it will go anywhere soon absent some sort of new information that encourages people to look past the issues...."
1. That is a call. You are saying the stock is stagnant
2. Absent some sort of new information that encourages people....are you assuming the "news" would be encouraging. Having read your posts, I do not interpret you to be expecting any sort of good news despite your sprinkling of nice words to appeal to potential MJNA longs (read subscribers to your site)
3. That post was so non-committal, wishy washy.
A "Bit" Self Annointed?
Try entirely. He has absolutely ZERO prior experience with cannabis, whether it is distribution, cultivation or even use. His financial industry history is exceptionally weak having failed miserably in NYC and crawling back to Houston. After floundering around for years, he has now found an unexposed industry and is trying to dig his heels in for traction. Clearly ABs plan is to become the "premier" MMJ analyst even though he has less that 12 months of experience in the industry. Once the MMJ industry takes off, AB will be left in the dust as he has been throughout his career. I mean the guy is from Houston, TX....shouldn't he be analyzing oil and gas for some major institution instead of chasing MMJ stocks like a lawyer chases an ambulance
MJNA has its share if issues but absolutely nothing Alan has contributed has been actionable or exceptional. All his blathering about MJNA and not once has he made a solid trading call. Sure he has been bearish and the stock has gone down, but I have also been bearish on MJNA share price while still being bullish on the sector and stock.
Expected $500k in Sales for HempMeds?
Based on what? What hard numbers could possibly be crunched to come up with $500k? Based on CanCew sales of $9k last Q, I have no clue where $500k from 1/2 a quarter could possibly be expected.
"By the way, it looks like they get to keep 1/2 the price of what they sell - that's a pretty nice cut."
I assume that is referring to 50% margins which are phenomenal for any product. In fact about the only products that do better are illegal drugs.
I am pleased as punch that one subsidiary of MJNA could be pulling in $250k per half quarter. If MJNA can get to your projections of $500k/quarter that's $2m annually. More important $250k in half a quarter of the first major marketing push for a horribly maligned and misunderstood product is AWESOME! Once people realize HempMeds is not about getting high this could become the next billion $$$ neutraceutical
For Monday, Or Any Day to Be "HUGE"
MJNA will require institutional investment. We retail investors and traders do not have the firepower to get MJNA to the next level. I have put about $30k into MJNA at .025, .18 and .16. I did get a neighbor to drop $25k on MJNA and a few others to invest but that's all I'm bringing to the table.
MJNA needs a few big fish to jump into the pond. Once people notice more than just self-promoting bloggers giving attention to MJNA, then the money starts rolling. The HempMeds increase in sales is a great indicator of a booming business, no doubt the leg work paid off. Current quarter sales puts HempMeds at $1m annually but that is likely to increase with exposure.
I would expect some decent action on Monday but I'm not expecting the train to pull up to dollarland just yet in the same way I didn't expect last nights news of a 2 month old legal filing would tank MJNA. There is heavy resistance at the .30 level where many are likely trapped and year end losses are often booked now for tax purposes.
Dixie Is Now Suddenly Relevant?
For the past few months all we have heard from the detractor crowd is that Dixie was barely relevant to MJNA. Now Dixie is named in a lawsuit and it's all over for MJNA?
That's some great DD on the blogger's behalf. A lawsuit from 2 months ago just becoming relevant now, merely days before earnings? Great timing.
No Vending Machine, No Problem......Well...
Yes, those 5 packs of joints could sell almost anywhere 21 year olds are allowed and the vending machine wouldn't be necessary. The machine would be icing on the cake because of licensing fees but not necessary.
However, failure to deliver on the supposed vending machine and Altitude Organix network is a major disappointment. The concepts are great but it's the execution that generates revenue.
Quantum That's Amazing
When I was in high school we used to make jokes about buying a pack of joints and that Marlboro (Big MO) was all ready to go with packaging. Just seeing that video of a 5 pack of joints gets me goose skinned. In a recreationally legal state like CO those could be sold at 7-11!!!!
I'm Giving ERBB Until Q2 2014
I have rounded out my ERBB holdings at 15,000,000 shares between .0019 and .0015. The goal is to keep my holdings under 1% of the float in order to prevent ownership issues. I have spread over $100k in various MJ stocks and have seen some spectacular returns, often followed by painful bleed outs but I'm holding steadfast.
As far as I'm concerned ERBB is the weakest part of my MJ portfolio, BUT, it does appear to be the only company that sells actual marijuana, hence the Q2 2014 target. Ideally, the first few months of recreational legalization in CO, ERBB's home state, could not only provide some hype/momentum, but what I'd really like to see is actual revenues.
MJNA - Temper Your Earnings Expectations
The most recent earnings have been pretty weak. The questions about how revenues were booked, questions about subsidiary involvement, the lack of announcements regarding a new CEO, the weak CanChew sales....nothing is going right at this point.
$9000 in CanChew sales is pathetic however sales only started halfway through the quarter. Hopefully this earnings report will disclose better numbers. I really don't expect the HempMeds marketing blitz to take hold yet this quarter. Having worked on numerous TV ad campaigns with major global advertisers, I can tell you that results from marketing efforts are typically delayed.
Who knows what the deal is with Llamas. Who knows what's going on with Tripp. Who knows what's going on with MJNA's CANV holdings. There is a lot up in the air right now.
I do know there are products at market. I can only hope MJNA and company are pushing their products towards major retailers.
Doesn't Move Cause of Die Hard Longs - EXACTLY
I don't consider myself "die hard" more like a DGF investor, as in Don't Give a .....I've made my nut and long paid for my MJNA holdings. I have no immediate plans to sell. My ETrade account doesn't let me short shares despite having substantial MJNA shares I own (not paid for on margin) and shorting via my Merrill Lynch portfolio is not worth the dime or effort.
Therefore I'm just sitting on my MJNA holdings. Come bust, buy out or boom, I can ride the nonsense out.
JJJr Usually I'd Be A Bit Skeptical
And don't get me wrong, I am not convinced MJNA is worth $1b
BUT
If HempMeds, CanChew and other subsidiaries can gain some traction, MJNA could be looking at HerbaLife-sized valuation.
The beauty of the non-intoxicating CBDs is that the products can be sold nationwide and worldwide as well.
There is a lot of progress to be made.
Technicals Say NOTHING
In 20 years of market participation I have never seen a stock flatline like MJNA has over the past few months. This makes the 2004-2007 range for MSF! look wildly volatile in comparison.
The MJNA charts are about as tight as it gets. There is a 50/50 chance MJNA swings either way, maybe a boost from a golden cross or a downward spiral from a death cross.
Anecdotal MJNA Promotion at an LA Shop
Today, I dropped by a shop in LA today to pick up some goods. For me this is a new shop because it is within moderate walking distance from where I live (although nobody walks in LA, right?), yet the place has been around for a while. My original shop is experiencing some "issues" and a friend up in NorCal who used to supply them recommending finding a new dispensary, hence the visit to the new shop.
The place had some knowledgeable staff and quality goods. I struck up a conversation about CBDs/CBD products and they were all well aware of the interest in the compound despite having trouble pronouncing the full name. As I scanned the inventory, I noticed some RSHO syringes and asked about them. According to the guy, the syringes are actually selling well. He claimed they had some eurphoric side effects, which I was under the impression the substance was non-intoxicating. I did not purchase one but will do on the next visit.
I also asked if the shop had any CBD only products, to which they said no. To my surprise, I brought up MJNA but they knew nothing about the company. They were aware of CanChew but said it was too expensive, therefore too risky to carry without knowing how sales might be.
The conversation wrapped up with me dropping MJNA's ticker symbol and website info. One of the staff mentioned he had a friend who made some good money investing in MJ companies.
It was a little discouraging that medical shop owners didn't know about CBD, partly because it applies to the true "medical" aspect of cannabis so they should be more aware, and partly because Los Angeles is not far from San Diego (MJNA's HQ), but medical clubs up here have not been approached by MJNA, signaling a lack of product marketing. Either way, it was good to spread the word and the movement rolls on...
My Guess Is the .007 Gap Will Be Covered
There is a nice fat gap on the chart from the second week in October. My guess is that for any upward momentum to hold, that .007 gap needs to be filled.
SKTO is a bit of a disaster. The "earnings" reports are really sketchy as are the "conference calls." Claiming $xxxmillion in revenue is great but the lacking of collections is quite laughable. Kevin Allyn is an interesting gentleman, and as an film/tv professional myself, I have to wonder why he left his day job for SK3.
I threw my hat into the ring with 750k shares at .005 in an effort to round out my MMJ portfolio. SKTO provides exposure to the "services" sector of the MMJ industry and the Dharmanol license is interesting.
It's All About Perspective
Sure it stinks for those who bought at the highs but that's the risk of trading or investing. For those who bought in the past 2 months as MJNA "has done nothing", I have no pity because that is just flipping. The complete technical flatline with MJNA is just odd.
I'm sure the financials will raise just as many questions as they answer. There needs to be more detail and clarity regarding revenue streams, relationships with subsidiaries, executive officers. It seems pretty obvious that MJNA will not hit the projected $47m for 2013, but if the current books are accurate and properly audited, the income this year will be significant. The recent positive exposure for HempMeds, complete with anecdotal progress at trade shows and high profile exposure around the country, could be a boost to earnings. Although it can be expensive, such publicity can easily double sales and present other opportunities.
I have a 2015 timeline on my cannabis stocks. By then, Colorados recreational use will be done with its rookie year. The 2014 presidential election will lend plenty of hype to the MJ issue and more states will have MJ reform initiatives. After 2015, I will re-evaluate but until then, I'm just enjoying the ride
Raging Bull Market?
For what? MJNA? Cannabis stocks? So 2 stocks in the sector are doing great, what about the rest? Most MJ stocks are down nearly 50% YTD?
The only disappointment here is because of wild eyed dreamers who expected MJNA to be over $1 by now or by fools who called for MJNA to be at .05.
Down 12% is a Dud?
Even after I'm up 600% on what I am still holding from my core position, after selling at 800% and 2400% gains? That 250k buy doesn't even dent my profits and is only a fraction of what I hold.
I'll take that dud any day. Hows that .05 target working?
You sound like people who squawked about what a bad buy A@PL was at 86pps when it dropped to 47pps in 2006. By today either share price would be a dream come true.
MJNA has been a dud?
Really? And thats a fact?
NO.
That is a subjective opinion based on the timing of YOUR interest in MJNA.
For me, having bought MJNA at .025, selling at .16 and .47, paying for the position and then some, I certainly do not consider MJNA a "dud".
While you propose your "research" is fact based, the truth if far from so.
"The company has never conveyed what arrangements"
No but you have continually pushed a negative view of MJNAs relationship with Dixie, more specifically the THC based revenues. Wisely, MJNA has not disclosed the relationship considering up until a few weeks ago, the DOJ, IRS and other govt organizations were partial to prosecuting those who profit off THC, despite Obama's "hands off" policy.
That'll change. Maybe during Q3 earnings MJNA will provide new insight because these Seeking Alpha articles sure are NOT. Who knows?
WTF? Fat Finger?
.0017?
Is that a fat fingered trade, putting in a bid/sale for what should have been .17?
Who knows? That also happened a few weeks back.
MJNA Trading Outlook
I'm not much for trading MJNA per se. Covering a trading position is the best way to trade because it will limit losses. The best ways to cover is via options and shorting the corresponding equity but MJNA does not trade options and shorting the stock isn't necessarily the easiest endeavor as most platforms including etrade don't allow it even if the shorter owns the underlying equity. The difficulty shorting also leaves MJNA little firepower for a significant covering rally because the short volume is so low.
There have been many chances for short term gains but I'd chalk that up to sheer luck of the draw. Buying and hoping for a pop due to an event or PR is not trading, more so gambling. Should a major pop occur, in order for it to be sustainable, MJNA needs to have fundamental success. A pop on hype will not be sustainable nor will there be any serious rally due to short covering.
I'll admit I've had my success swing trading MJNA but I have done so to establish a position. I was intrigued by the sector and got in at a good time, only taking profits to pay for the position.
Good luck to all traders and investors
Very Diametrically Opposing Statements
"How about on freaking sound bite from the Chairman before she chases in" is vastly different than "it would be nice to hear here voice, no on any specific matter."
"Before she cashes in" is not just "any specific matter" and the preceding quotation has extremely negative connotations.
And part of knowing "very little about Ms. Sides" has an awful lot to do with a completely erroneous report and horrible journalism in the SA article by Infatalis where her identity was maligned.
MJNA, Michelle's Sides and the rest of the company has no obligation to the public, to shareholders or to anyone regarding specific share sales with the exception of notifying the SEC of "intended" sales.
Sorry Do Executives Typically Comment on Their Sales?
"How about one freaking sound bite from the Chairman before she cashes in? I have yet to find a single interview anywhere."
Did Jamie Dimon personally comment on his stock sales when JPM lost $6billion in trading losses due to rogue trading? Does Tim Cook comment on his @APL sales when the stock has been nearly halved in the past year?
I'm not sure what markets you have been following but aside from filing a form 144 to disclose the "intent" to sell, which was announced via an MJNA shareholder statement and earnings report, neither Ms. Sides nor MJNA are obligated,much less should they make personal statements regarding stock sales.
Excuse Me But This Is Not "Off Topic"
It is extremely relevant to define what it means when someone boasts of talking to "a lot of people in the industry". When a paid industry "expert" claims to be contacting folks in the industry, something he previously did not believe was relevant, it is extremely important to qualify if that refers to calling MJNA's investor relations or company representatives or contacting industry players, such as growers and producers.
In the same way understanding the supply chain for tech companies offers great insight into a tech companies future earnings, it is also exceptionally pertinent to discuss the supply chain for MJNA. I don't believe there has been much discussion about this and it can be misleading for someone to claim they are industry experts without a thorough knowledge and resource base in the cannabis production chain.
For example, what sort of spikes in production growers may be experiencing in relation to the events of the past few years? Or how many different dispensaries are supplied by how many growers?
It Means Tony Soprano Will Be Driving By
Tony and Paulie are going to collect.
RIP JG
PR About Pharmajanes Launch Probably Imminent
I would expect a PR in the next few days announcing the launch
As a Current Patient Pharmajanes is Compelling
If they can get connected with my current dispensary on the edge of Beverly Hills, I might just sign up for this. Actually, even if they don't hook up with the shops I frequent, I may give it a try.
Cannabis has come full circle. Back in NYC it was the delivery services (Cartoon Network), then here in LA it was going to a shop (blew my mind the first few times) and now its back to delivery with Pharmajane.
Hopefully this helps SKTO.
Tinsel I'm Not Sure What You're Getting At
Yes, the company is making a dime and working hard to make some more. They are the leader in CBD products on the market today. Who knows about THC since MJNA declined to release the Dixie numbers in Q2.
But, medical marijuana and legalization or taxation and regulation WILL NOT HURT their business as you suggest.
1. The year prohibition ended, nationwide alcohol sales went from $10million to $10billion in the first year alone. A rising tide will lift all boats.
2. Alcohol and tobacco are two of the most taxed and regulated items in the country, and world, yet it has certainly not hurt either industry.
3. Mom and pop shops are open everywhere selling liquor and cigs, AS WELL as major chains, supermarkets and even private alcohol distillers selling on the black market. There is plenty of business and money to go around for everyone considering the black market for cannabis already generates from $40-120bil annually, depending on which estimates you choose to believe.
And, your "trading" advice for this stock is pretty awful (pardon my bluntness there). Since most trading platforms do not allow an individual to short MJNA or other mj stocks, covering the downside is nearly impossible. Therefore, "traders" who are trying to flip the stock can only buy and hope for a pop to sell and that is a losers game. especially short term because you are merely playing the luck of the draw. There are also no options to play on MJNA or mj stocks, again making it impossible to cover a position which is the essence of smart trading.
As someone who has had a financial background trading for ML back in the day and being a successful individual investor/trader, I would recommend "investing" in MJ stocks and nothing more. If you're itching to trade, do it only with disposable capital, not on margin. Or just find a stock lik @apl or NFelX, that are way more liquid, move the entire pps of MJNA is seconds and have options to cover the position if it goes south.
Popeye Here's A Few Things To Consider
Yes comparing ERBB share structure to MSFT is not proper. I have MSFT share with a cost basis of .17 having bought them for a few dollars when the company started. But MSFT got to a 10b share count because the stock kept soaring and the company split in order to make more shares available as they grew into a massive global business. ERBB has achieved the large share count through constant dilution which is vastly different.
BUT
The main reason ERBB has to dilute shares is because the company is not able to receive traditional financing through banks and other institution due to the nature of the marijuana industry still being strangled by the Controlled Substances Act.
HOWEVER
As of Tuesdays SJC hearing, the federal government is discussing allowing banks to become involved in marijuana related companies in legal states. THIS NEWS IS ENORMOUS. In fact, New Jersey just committed $375,000 of state funds to help a dispensary in that state (don't have the link but it has been posted here and should be easy to find with a simple google search). Allowing MJ companies to setup accounts at banks is a win-win; removes the dangers of having large amounts of cash which is safer for dispensaries/patients but it also gives authorities a paper trail to assist in regulation.
As for you comment that sales will "never be able to measure up to the current share structure", that doesn't make much sense. Yes, it is extremely unlikely that ERBB will ever achieve sales enough to drive the stock to $1 but that is something only time can tell.
Some of the top dispensaries in LA can make as much as $10m in annual profits (profits not income/ revenue before expenses and liabilities). If Altitude Organics can do half that with 2 dispensaries in CO that is some decent cash flow. In WA one proprietor can only own 3 dispensaries and if ERBB can franchise out that could be an additional flow of capital. And there's always AZ. Those 3 states alone could generate an annual $20 in profits and cash flow.
Additionally, the 21 Machine or Green machine, Tranzbyte's vending machine system, could be a gold mine. Those "mom and pop" shops you refer to could easily sell weed and bite into dispensaries market share but they are just as likely to install a vending machine instead of handling the transactions. Grocery stores in CA and ofher states can sell liquor, wine and beer but there is still an abundance (over abundance) of independent liquor stores so I think the cannabis market is big enough for everyone. With a 21 Machine or Green Machine Tranzbyte stands to rake in untold sums in recurring income through licensing, restocking and technical fees.
Then there is the Yo! Card which I know nothing about other than pre-paid, high-interest debit/credit cards are a big business.
And also the RFID tech.
The dispensaries could be the cash flow and the vending, credit/debit, or RFID could be the real magilla
Posted About That on Another Board
Great news! The first shot has officially been fired. Remarkable.
Hey They Got the Call Done
Despite the delays, they got the call out and addressed many of the concerns of shareholders. I'm still a little confused exactly how this company draws a revenue but according to the call they are "collecting" monies owed (kind of makes it sound like Tony Soprano is cruising LA picking up envelopes, may JG RIP).
The Yak and Yeti stuff is really confusing. While SK3 says they are not involved in THC sales, the info I can find on some sites say Yak has THC and is a "discreet" way to take medicine. The cc discussed the "licensing" of such products which seems to be the greenwashed term MMJ companies use in stickier situations involving THC.
Consulting in the MMJ industry is interesting but I'm not convinced yet that is such a viable sector. Most dispensary startups are entering the business with their own connections. I have long said if NY becomes medically legal, I will retire and set up shop in my home state, already having the capital to purchase/rent a storefront as well as connections with lawyers, NY growers and knowledge of the cannabis industry. I certainly would not be spending startup capital on a company from another state (my current home of CA and city of residence LA).
Anyhouuu, after all that, I threw my hat into this ring to round out my MMJ portfolio which includes:
SKTO (started with 250,000 shares at .0077 and will contemplate buying more if it drops and dumping half at 100% gains)
MJN@
ER8B
CB!S
NT%R
MJN@ and CB!S are already paid for but the idea here is that one of these companies will blow up either from a buyout, successful market participation or just some dumb luck.
I Suspect This to Be A Legal Problem
Skywalker OG is another popular brand which surprises me because Lucas is renowned for protecting licensed properties.
Revenue Estimates From Dixie Are Not Possible
MJNA did not provide numbers from Dixie. To me this indicates maybe MJNA is drawing revenue from cannabis sales despite what is reported here. Not having a clear price of Dixie's revenues in conjunction with their relationship to MJNA earning make any estimates pure speculation.
Having said that, with Tuesday's SJC opening doors to financing and the DOJ giving states the green light to develop their cannabis initiatives, there is a strong possibility MJNA could realize and more important, could acknowledge Dixie revenues.
I'll wait to hear any disclosures from MJNA instead of bothering to listen to the noise but I'm an optimist so I'm thinking good things here.
That Doesn't Even Make Sense
MJNA's access to bank lending is absolutely a function of MJ laws, NOT a "pink-sheet issue"! Are you contending that MJNA would have unfettered access to bank capital if it were not on the pink sheet? You also make the hilarious contention that "no bank will lend this company money based on current financial". Are you kidding? There's this thing called the Controlled Substance Act which prevents banks from even entertaining a look at MJNA's financials due to its business practices.If cannabis and hemp were fully legal, do you seriously contend that the company would have trouble financing?
Last I checked the Controlled Substances Act puts banks in serious jeopardy should they accept money from illegal, drug related enterprises, risking seizure of assets for violating the CSA. That would turn me off to the cannabis market if I were a banker.
How do you think a loan conversation would go with a banker...
MJNA "Hi, I'd like to secure a loan for my company's operations"
BANKER "Great, and what is your company"
MJNA "Medical Marijuana, Inc"
BANKER "Um, is your company involved in drugs"
MJNA "Well.......the laws ARE changing and MJNA doesn't dabble in THC sales per se"
BANKER "No thanks, we're going to give our money to the local liquor store because their drugs are safe and legal"
And access to CannaBank is a far cry from access to Goldman Sachs.
MJNA is receiving $35m in CANV stock, selling even 5% of that over the next year is $1,750,000; a nice cash flow for MJNA.