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I get .09 from the Dec 12 Gap
I am not pulling .05 out of a hat like everyone's favorite "professional" clown. In March I called for .18 followed by .09 based on technical indicators.
It's not Seeking Alpha, its MJNA Management
Trust me, blaming SA is not only misguided but it gives those clowns way, WAY too much credit. Brochstein is a joke, laughed out of NYC only to retreat to his "home office" in Houston. Professional analysts make millions providing services for institutions and they DO NOT spend their weekend posting on message boards. Just look at his iHub signature which went from "I am an investment advisor...." to nearly the exact opposite.
Bottom line:
MJNA management was on the 1 yard line and they fumbled. Management has not provided adequate financial info, nor proper clarity regarding the company's finances or revenue sources. Had everything been lined up in February when interest was at the peak, and had the info been digestible, MJNA would be in dollar land by now.
Instead, management called an audible by releasing the "soothing" PR in response to the chaos and unfortunately, they only created more confusion in the process. Then management released Q1 earnings at 11:59:59PM on the day it was due, forgetting to include several pages. Seriously? This isn't a 3rd grade book report but a financial report that should provide legitimacy for the company. And they muffed it. Couple that with empty legal threats, possession arrests, weak PRs......
MJNA still has a lot of potential. As I posted in late March, .09 is a likely base. Back in March I also said "short term bearish, long term bullish", a sentiment I still have.
MMJ Has Been on Yahoo Cover Page Everyday
Everyday there has been a story about MMJ. The pump is being primed for 2014 election year.
Do Your Own DD
For cripes sake, this is not the sort place to get investment advice. Occasionally you will find a bit of news but basing your investments upon the advice of someone who claims NOT to be an advisor yet endless comments on what a bad investment MJNA is......
Nothing to Do With THC?
Has that been confirmed by the Company? I have seen the SA clowns repeat that mantra to death but we all know they don't contact the Company to confirm their opinion based accusations.
Legally, I can understand the Company not being forthcoming about THC based sales. However, drawing revenue from licensing the formulas / extraction processes is vastly different than profiting from the physical sales of MJ flowers or concentrates.
Great Read
The MJ industry reminds me of the porn industry in the late 70s. As the porn industry exploded, banks we unwilling to get involved because of the nature of the business. Porn actors who made millions by the 1980s we unable to get bank loans because of their occupation.
But then banks decided to stop being b*tches and started giving loans to producers of porn. Now you have companies like Vivid that are worth billions and budgets for porn movies can be up in the millions.
Once the banks get the go ahead, you will see an enormous rush of green.
Clarification?
So if
MJNA owns 60% of RDH
and
RDH "owns the formulas, equipment and extraction process for cannabis based products"
wouldn't Dixie Elixirs presumably at the very least be licensing formulas and extraction processes from RDH to create the THC and CBD based products?
"Cannabis based products" is a very broad statement.
Proposition D Passed in LA
This measure will decrease MMJ dispensaries in LA to 135 from almost 500 by forcing the closure any shops opened after 2007. What makes this measure so disturbing is that law makers pitted dispensaries against each other. Of course the grandfathered shops from before 2007 will want their competition to be shut down to increase their control of the market. Now instead of using violence as they did when cannabis was on the black market, the older dispensaries are using the law to do their bidding. The same thing happened in 2008 when California had full legalization on the ballot but the MMJ shops told everyone to vote against it in an effort to protect their business.
I'm just sick of it. The cannabis community needs to stick together to make legalization happen. Once the greenlight is lit ending prohibition, then the competitive shenanigans can ensue but until the the consumers suffer due to the greed.
Death Cross
MMJ stocks have been digressing towards the dreaded "death cross" (50MA crossing below 200MA). Of all the technical indicators, the golden cross and the death cross are the most widely acknowledged patterns. Right now MJNA is heading directly for it. CB*S is already there and ER*B is on its way.
I posted back in March that .18 was weak support and .09 was a likely base. I'm sticking to those numbers. My call was extremely unpopular in March when I posted it and I doubt it will make me any friends today, but it was an honest assessment especially while many of the people here were screaming for $1+/share.
Bottom line:
NOBODY is buying MJNA. There are little nibbles here and there but the accumulation has fallen off a cliff. The big shake out came on the dip to .12 and management's letter was a much needed pop, albeit a rather empty consolation as little to no clarity was provided. Currently, the ship is without a captain having no CEO in place or even an interim one. The earnings reports provide absolutely zero reliable breakdowns of which divisions of MJNA are profitable.
If MJNA is a "market leader" the industry is full of clowns because current management does not have what it takes to run a billion $ empire. If this is the state of MMJ upstarts, I advocate leaving cannabis on the black market.
MJNA IMO
Disclosure
I have been in this stock since 2011, making large buys at .09 and .03
I have sold at .12, .16 and .45
I shorted at .47 to .29 (a colossal waste of time as I had to transfer shares from ETrade to ML because ETrade wouldn't even let me short against my long shares)
I bought again at .18
I am currently long 250,000 shares of MJNA
If you check my posting history, I have always been extremely positive about the cannabis industry. I firmly believe in the positive medical, recreational, social and spiritual uses of cannabis. Right now, the industry is a powder keg as state and federal government laws prohibiting cannabis have been relaxing.
How MJNA fits in is up to management and currently the leadership of the company is a ship of fools. Last second earnings reports full of errors, incomplete paperwork and vague descriptions of revenue sources...fluff PRs...and general bafoonery has stalled any progress the company has made.
The upcoming events to watch for are the 2 year financial audit that may lead to uplisting. Other than that the only catalyst is 2014 election cycle. Typically, MJ stocks move a lot in the 1st qtr of the year, followed by a slow fade for the remainder of the year and this year has been no exception.
I expect MJNA to drift as low as .09 (as I called way back in March) but next year could be a real rip. The typical cyclical 1st quarter bump could be greatly exaggerated by the 2014 presidential election year.
Prop D to Shut Down Shops In LA
http://www.huffingtonpost.com/2013/05/22/prop-d-wins-la-medical-marijuana_n_3316625.html
Monopoly anyone?
Yet another victory for the greedy dispensary owners. The same jerks who shot down recreational legalization were behind this because it uses the law to keep their market in a corner. Once again, cannabis is being sold by the greedy to the detriment of the needy
I Like Perry Coleman But $234pps?
Is that for real? I think $1 is a lofty target for now with $47m projected revenue for 2013 but $234 for a $200b+ market cap is utterly laughable, even based on 2014 projections of $155m revenues.
Maybe in 10 years if hemp and cannabis are legal AND major big pharma miracle drugs.....
On a side note, I did a little DD on some of the SA authors. They are harmless clowns with little to no success in the financial world, mid level at best, as if their trolling here wasn't enough evidence. Pretty sad.
"Word of mouth isn't likely to drive sales "
Apologies, this was actually a reply to a reply to Alan's post. I did not mean to post this as a reply to Alan but as a reply to On2_YaddaYadda's post
Seriously? How do you think the black market for cannabis has operated over the past 80 years? Do you think cannabis "dealers" take out billboards or classified ads? Last I checked there is zero marketing for illegal drugs, yet somehow consumers still know how to access it.
Businesses in their inception utterly depend on word of mouth because most do not have access to the enormous capital required for sophisticated marketing.
The last thing MJNA needs is to piss away money on marketing when there is no way to determine the ROI.
What the company needs is a strong sales force on the ground in states and countries. A sales force that approaches dispensaries for partnership. A sales force that approaches doctors and alternative health organizations.
As for Tripp getting arrested; WHO GIVES A SH+T!
That is the ridiculous nature of our country's drug laws and the business in which Tripp operators. First of all, he is the CEO of the company and I highly doubt RDH has restrictions against hiring employees who have been convicted. I hire convicted felons who make over $100k/year painting, lighting and gripping film sets. It has zero relevancy on their ability to do a task and it is only the stuffy corporate environment that frowns upon incarceration. Many of us Americans realize that the system is fu+ked and the individual should not suffer because of the ignorance and greed of lawmakers/special interests who make laws to suit their needs.
Searching ...
Results of Search in db for:
: 0 applications.
No application publications have matched your query
No Doc I Am Not
1. It is NOT the patent number I provided. It is the "application" number.
2. I shared that info with you 2 weeks ago. Did you not see how the site info has changed?
Does CanChew Even Have Patents?
Well, I have waited long enough to air this......maybe its significant, maybe not....but after nearly 3 weeks of attempting to contact MJNA, CanChew and IR via voicemails and emails and phone conversations with Stuart Smith, I am resorting to posting this on the message board.
I don't think CanChew even has patents. Below is a link to the information:
Application: 12/934,633
USPTO Site: http://portal.uspto.gov/pair/PublicPair
Now here is the real kicker. Two weeks ago when I came across this issue, the USPTO site stated;
Status: "Final Rejection Mailed" with a "status date" of "1/15/2013".
Today the site says:
Status: Docketed New Case - Ready for Examination
It is almost as if MJNA is responding to my inquiries by trying to push this patent through.
Lots of Negative Sentiment
Understandably. The company really looks like a clown show after the earnings report. Missing pages, filed just seconds before midnight on the west coast, no CEO, nor any indication of a replacement....
MJNA is a mess. Management just completely squandered a great opportunity with all the recent interest that ballooned and deflated by management's poor performance. In an industry struggling to gain legitimacy, MJNA just hobbled the company with their sloppy behavior.
Honestly, I will no longer commit new monies to MJNA. A few weeks ago, I added at .18 which barely brings my cost basis above .05. The monies used to buy at .18 were from profits after selling some at .16 and shorting from .47 to .29 so I am basically playing with house money. I was hoping to add if MJNA slipped to .09 but until management gets their head's plucked from their bottoms, I won't commit another penny to this penny stock.
However, I will just sit on my MJNA holdings. I firmly believe this industry has enormous potential. I'm vested in ERBB because that company actually draws revenue from THC based products, although they can't report income due to the tenuous legality of cannabis.
You Called to Confirm Of Course?
So did you call to find out if the product is "out of stock" due to high volume of pre-orders or is it "out of stock" as a failure to deliver?
Can you confirm they "don't have product" or is that just another example of your virtual journalism?
Or are you waiting for someone to call you to confirm because according to you, the companies should be reaching out to you not the other way around like as is done with professional analysis?
Again, You Clearly Don't Suffer Serious Illness
"A gazillion dollars for a pack of gum lolzz"
Good of you to laugh at all those terribly sick individuals who would pay any sum to decrease the effects of their illness.
I would liquidate my entire portfolio to stop the cancer that is killing my close friend Matt. I certainly don't think spending a few hundred dollars will be an issue for those suffering from such horror.
Whole Foods Already Carries Hemp Products
I use a hemp protein powder; Life's Basics from LifeTime. It's just a matter of time before CanChew is in the checkout aisle next to all the alternative gums and candies. The vitamin aisle in Whole Foods is full of hemp supplements but none are specifically targeted with CBD branding. This is could be massive
My Guess is We Get a Twofer
Audited financials with an announcement of a CEO.
Maybe Tripp was removed from the board to assume the role of CEO?
CEOs don't sit on the board so....
All speculation of course
$3m Market Cap?
Really? With 2 dispensaries? A decent dispensary in LA pulls in about $250k/year and some make a few million/year. ERBB / Altitude Organic have 2 in Colorado, giving them a 9 month jump on any new MJ establishments resulting from HB 1317/1318.
Oh and thats just the dispensary side. They have a franchise model for dispensaries, they have RFID vending machines coming soon......
I know the share float is massively bloated but $3m seems awfully low.
Cure? Lets Clarify
"Cure" is a strong word and may not adequately describe cannabis treatment with respect to cancer (or any illness for that matter).
First lets establish cancer at the most basic level. Cancer is the uncontrollable replication of cells causing destruction of organs, development of tumors and/or breakdown of physical systems.
Preliminary findings are showing that CBD and THC can reduce the spread of cancer cells, possibly even kill the cancerous cells. Those studies are still in very early stages but there has been a lot of progress. If that progress results in conclusive evidence of cancer fighting properties in cannabis, the FUGGGHEDABOUTIT, we are talking a $100b drug OVERNIGHT.
Currently, cancer patients use cannabis for stress relief and to combat effects of radiation from chemotherapy. From my personal experience with family and friends with cancer, the chemo treatment is extremely painful, leaving the patient with symptoms of nausea, lack of appetite, weakness and body aches. Cannabis helps ease the nausea, facilitates the appetite, helps dull pain and assists as a sleep aide.
Perhaps the best part of cannabis is that the medicine in NON-LETHAL. Nobody, not a single person throughout history has EVER taken a fatal dose of THC or CBD. It is NOT POSSIBLE. There is no current medicine from Aspirin to Adderall to antibiotics to Oxy that can make that claim.
So does that "cure" cancer? My take, who gives a sh"t! If you've ever seen someone being abused by cancer, they should be able to access whatever medicine they deem fit.
Factual Link for ERBBs Dispensary Affiliation
http://www.altitudeorganicmedicine.com/
Notice in the middle of the page (Publicly traded: ERBB)
The Impact of HB 1317/1318 - 10 Reasons for Optimism
1. ERBB will be a legal marijuana retail operation. This could lead to access to capital from local or regional banks, possibly even outside institutions.
2. ERBB will be able to report earnings, giving transparency to financials.
3. The federal legality issue is now forced upon the US government. With a state constitutional amendment and now with state laws recreationally legalizing cannabis, the case for prohibition gets weaker every day the Feds stall, making it far more difficult to reverse the progress of the legalization efforts.
4. HB 1317/1318 requires sellers to be growers and ERBB is already established as a medicinal retail operation with Altitude Organics, growing and selling their own cannabis products.
5. HB 1317/1318 give existing medical establishments a 9 month headstart on sales because new retail shops will be required to wait before opening shop.
6. Pot tourism will be allowed because the bills allow for out of state visitors to purchase cannabis.
7. Colorado could be a benchmark for Washington, allowing for Altitude Organics to expand.
8. Liquor stores would probably not dedicate much floor/shelf space for cannabis BUT they may be interested in putting a cannabis vending machine in the store. ERBB has a vending machine which incorporates their radio frequency tech, making a win win situation selling cannabis product and RFID tech
9. New tax revenues will be collected, new jobs will be created, drug cartels will lose control of a major source of income, violence should be reduced, unjust incarceration should decrease....
10. Most important patients and individuals will be able to safely access and use cannabis.
Holy Cola!
Awesome pic.
Alan Care to Qualify This?
From your reply to the latest "Intro to Pot Stocks" article on SA.
"I find it ironic that investors haven't figured out how to make money off these stupid pot stocks"
ThomasAn the Ball is in Their Hands
I have submitted my inquiries. Despite a hectic schedule this week, I will make a few more attempts but if i do not get a response by Friday, I will air my concerns publicly. I have one more outlet to contact regarding this matter but the Company could easily just answer my questions directly. Unlike Alan and Ashrafs unconfirmed speculation, my discovery is material information that would require confirmation from MJNA, CanChew or one official outside source.
No Word From The Company Yet
They have not replied to my inquiries yet. I have been extremely busy over the weekend and will be until EOD tomorrow. On Wednesday, I will make calls and email until I receive a reply.
If I do not receive a reply by the end of the week, there will be big problems.
Certified Analyst
That makes him the most crooked of the bunch. And most analysts are in good contact with them company which they analyze. Alan has admitted never once contacted the company.
Basically he is giving you a review for a car without ever haven driven said vehicle.
Nail Head, Meet the Hammer
Nailed it on the head! Thanks Thomas! That's exactly what I've been trying to say for a while but you laid it out in a brilliantly concise and targeted message.
Like you said, there are many questions pending. I have a serious discrepancy that I have found, something I will not disclose until I have an answer from the Company. Amazingly, in all of Alan, Ashraf and Infatalis' articles, NOT ONCE do they mention this discrepancy I have found and that's a good thing because if my findings are accurate, many investors will be very upset
Alan It's Called Mark-To-Market Accounting
Every company in the world uses this practice. You might want to learn about before you keep spouting off like a broken sprinkler. By not understanding this basic accounting principal you are making a fool of yourself.
Before you write your next blog may I recommend:
1. You thoroughly read ThomasAn's post about your lack of thorough reporting skills. He basically has reiterated everything I said about your armchair journalism but he did so in a fantastically concise and non-aggressive manner
2. Read about market to market accounting.
3. Talk to cancer patients, dispensary owners, companies, lawmakers....do something to reinforce your opinions OTHER THAN regurgitating them in articles, hoping that if you say it enough, someone might believe you
They Haven't Returned My Calls
I have tried to reach MJNA IR and legal as well as CanChew to find out some interesting and possibly very contentious information. I have called and emailed each department. I'd like to hear back from them because I have stumbled upon something that needs verification from a company representative. If I don't get that verification I will have to air my concerns publicly.
Wait a Sec! Brochstein is Contacting the Company
But I thought he and Ashraf didn't need to contact a rep from MJNA to know it is a "fraud"?
CanChew: A Sticky Situation Possibly Worth Billions
I submitted this to SA as an instablog. It was published but I edited it to add some additional information. I am posting it here because many of us refuse to give SA the click-views but I think this is good info for everyone. Please enjoy
Lost among the recent hullabaloo regarding Medical Marijuana Inc (MJNA), a few days before releasing the soothing shareholder PR, CanChew Biotechnologies, a 50-50 partner of MJNA, launched their website to sell the non-THC, non-intoxicating, CBD version of their chewing gum line. In order to redirect interest from all the nonsense that has been circulated over the past few weeks, it is important to discuss actual sectors of MJNA that are being developed. Here is a speculative look at the potential business opportunities for the freshly launched, CanChew CBD gum.
Disclosure
I am long MJNA. I have no direct affiliation with any of the other companies discussed, except for working in very limited capacity with Wrigley's and Cadbury, without privy to sensitive information.
Let There Be Gum
Like cannabis, chewing gum is not a new to society. Both cannabis and gum have documented use dating back over 5,000 years. The history of gum is quite fascinating and should you want a more detailed look, please click on the following link:
http://en.wikipedia.org/wiki/Chewing_gum
Even though both consumables have been around for several millenniums, it took all that time to finally merge the two thanks to CanChew Biotechnologies.
The Gum Industry Today
For a product that never makes it past your mouth, the gum industry is a cutthroat business. Read about it on the Wiki page and research your favorite brands here:
http://en.wikipedia.org/wiki/Gum_industry
The commercial gum industry is over 150 years old. It is rife with corporate takeovers, megalomaniacs and major money. There are only a small handful of players in the industry who rake in an estimated $19b in annual sales selling 1.3 million metric tons of gum according to the link above. Who knew selling gum was so lucrative? Whether intentional to or not, CanChew has made a grand entrance into an enormous marketplace.
CanChew Goes OnLine
On April 20, CanChew stealthily launched their website under the radar while a battle raged on message boards and blogs regarding distracting MJNA issues. MJNA holds a 50% stake in CanChew Biotechnologies but any revenue sharing structures or exact details regarding the relationship have yet to be provided. The CanChew websites can be accessed here:
https://www.canchewgum.com
http://www.canchewbiotech.com
To coincide with the launch CanChew is offering their THC free, non-intoxicating, CBD version of the gum which is estimated to start shipping by May 15 at the latest. The gum is an effective oral delivery system for Cannabinoids (CBDs) because there are no potentially harmful chemicals released from plant combustion and oral processes quickly break down the compounds, absorbing them quickly and easily into the body. Lets also be perfectly clear hear; CanChew's CBD gum doe NOT contain THC and CanChew's CBD gum is fully legal in all 50 states and most countries worldwide. CBDs are compounds found in cannabis. You can read more about them here:
http://en.wikipedia.org/wiki/Cannabinoid
Clinical studies are being conducted and there is a lot of evidence that CBDs are effective in treating a wide variety of medical conditions including cancer cell reduction, pain management, nausea, skin irritation, epilepsy, Alzheimer's, and Parkinson's just to name a few. The National Cancer Institute even recognizes the potential of CBDs on their official government website, mentioning that "Cannabis has been used for medicinal purposes for thousands of years" (kind of odd considering the Schedule I status of cannabis declares it has no medical value, so say the DEA):
http://www.cancer.gov/cancertopics/pdq/cam/cannabis/healthprofessional/page1
CanChew is also actively pursuing European clinical trials for medical approval of their THC based gum. MJNA has reportedly allocated 47m shares as payment to execute the initiative, which is scheduled to begin in Q3 of 2013. MedChewRX incorporates THC, the intoxicating CBD compound in cannabis, into the chewing gum, providing a smoke free method of experiencing the euphoric relief of the medicine. Obviously, the legality of this product would be subject to the marijuana laws where the user resides as well as national and international shipping regulations.
The current THC free product line being offered on the website is not cheap, costing about $125USD for a box of 32 pieces and as much as $300USD for a box of 96 pieces. Keep in mind the prices accurately reflects the fact that CanChew gum is not intended to treat simple conditions like halitosis, but far more serious medical ailments like those listed above. The non-THC variety of gum is legal all 50 US states and several countries worldwide. Neither MJNA nor CanChew have made mention of retail distribution deals, but there are wholesale opportunities being pursued.
Speculation
Now that the business and products have been established, what is the forward looking potential for CanChew products? Like the product itself, analyzing CanChew is a sticky situation. At this point, we have a few hard numbers like the retail price of some products and overall numbers regarding the gum industry as a whole, but not much more. Fortunately, not having all those figures makes for some fun speculation.
Chomping at the Bits
· R&D - CanChew has already developed the CBD gum line and is also working towards bringing the THC based MedChewRX to market. Research and development for a new product can cost a fortune. Furthermore, clinical trials are extremely expensive. CanChew and MJNA have already performed much of the work required for R&D having brought the CBD product to market. Gum manufacturers are constantly developing gimmicks to further their brands. "Flavor crystals", dual flavors in a single piece, and gelatin interiors are just some of the gimmicks developed to sell you chewing materials. The difference with CanChew's product is that it is not a gimmick. Even the National Cancer Institute recognizes cannabis compounds as a viable treatment.
· Marketing - Marketing is another major device to maintaining a brand. Wrigley's and Cadbury spend massive sums of money creating worldwide marketing campaigns. The purpose of these messages is to bring brand awareness and develop a customer base. The gum industry has been slow to enter the health food market but CanChews products offer a legitimate contender in an explosive market. Cannabis users of all kinds would be interested in a CBD/THC product, presenting a new targeted market for manufactures.
· Acquisitions - The reasons above would be an appealing case for an existing gum manufacturer to target CanChew for a buyout because much of the work getting the product to market has already been executed. The Wikipedia page is filled with multi-hundred million and billion dollar acquisitions. From a business perspective, a CanChew acquisition seems like a strong possibility. The terms of the acquisition could include a complete buyout, a majority purchase of the company with a possible royalty structure, or a licensing of CanChew products.
CanChew Retail Expansion
In the meantime, CanChew is open for business. The online portion is up and running but the retail expansion is another avenue to profitability. Wholesale distribution of gum is obviously where the profits are booked. Since CanChew contains healthy supplements, it is possible to marketed to not only smaller nutritional retail locations, but also major health food operations like Whole Foods and General Nutrition Centers (GNC). This expansion could lead to significant nationwide revenue.
Numbers
For the purposes of this blog and to make the speculation more credible, I am going to keep the numbers regarding sales as simple as possible. If CanChew sells 100,000 units of of the 32-piece box in a year that is $12.5m in sales. Obviously, those are extremely low-ball numbers considering a 2011 United Nations study estimated 164 million cannabis users worldwide, but I am favoring credibility opposed to over-exuberance (http://www.unodc.org/unodc/en/data-and-analysis/WDR-2011.html). Those numbers do not even factor in possible wholesale or worldwide distribution, just online sales.
Additionally, those figures do not include the THC MedChew version of the gum. In conjunction with the estimates of 164 million worldwide users, a THC based chewing gum holds enormous potential, both as a recreational device as well as a medicine. Since there are no available products to price, I will once again refrain from speculation but take a moment to think about the size of the market and you should be able to understand the enormous potential for revenue.
Conclusion
CanChew Biotechnologies is smacking of potential to become a prominent player in the gum industry and bringing in a new revenue stream for MJNA. Speculation abounds, but even the lowest sales figures, licensing or buyout estimates all potentially offer significant revenue. The impact of CanChew is a work in progress and I am very excited to continue looking into the newly developing partner of MJNA.
Laws Change on CBD - Doubt It
Newmed, rarely, very rarely do you present relevant info but this is the last of my limited 15 posts I will waste on your silliness. I'm sure it will be deleted anyway.
Yes, "if the law changes tomorrow", Tripp will go to Congress as will plenty of other special interests who support cannabis, hemp and medical research, including myself and half this message board. But it won't be to discuss MJNA or CanChew's sales. It will be to knock down the doors of the Capitol and demand the US government back off cannabis regulation.
CanChew Laws
From the CanChew website under FAQs:
https://www.canchewgum.com/faq
"Is CanChew CBD Gum legal for purchase and consumption?
Our hemp oil-derived wellness products are legal to consume both here in the U.S. and in many countries abroad. The FDA considers hemp oil as a dietary supplement product and our joint venture partner, Medical Marijuana Inc (OTC: MJNA) imports its naturally-derived raw hemp oil under approved tariff codes to its FDA- registered and GMP-certified facilities.
Medical Marijuana Inc does not grow, sell or distribute any substances in ways that violate United States Law or the Controlled Substance Act."
From the PR:
"CANCHEW GUM PRODUCT LAUNCH AND NEW CORPORATE CANCHEW BIOTECH SITES:
The Company has successfully launched of the CanChew Gum website (www.canchewgum.com) and is taking sales and product requests. We experienced a delay in the launch of the products due to last minute changes and approvals that we required from attorneys involved to ensure that all marketing and packaging was done correctly and in compliance with the appropriate regulatory bodies. The Company launched its new Canchew Biotechnologies (www.canchewbiotech.com) website on April 20th, 2013. This is the informational website for the anticipated MedChewRX gum being clinically developed by Canchew Biotechnologies, with clinical trials in Europe set to begin in the 3rd quarter 2013."
Here's the Interim CEO's Response to Sale Rumors
From the recent PR
http://finance.yahoo.com/news/medical-marijuana-inc-shareholder-letter-113000670.html
"EXECUTIVES ARE SELLING THEIR SHARES IN COMPANY:
The statements contained in certain analyst blogs relating to the Company's Chairman/COO liquidating millions of shares is completely inaccurate and again is no more than an attempt to create mistrust in the company's leadership. Yes, I have registered my ability to liquidate 1% of the outstanding shares as required by the SEC. As of this date, I have personally NOT sold any shares. As with any other executive in other industries, shares are routinely provided as part of a person's compensation, which is the case here. I am strictly regulated by securities laws and regulations and take compliance issues very seriously."
Manipulation and TA is Often the Same Thing
Technical indicators themselves manipulate people and computers to execute trades based on indicators.
I'm fairly new to penny stocks (except maybe for buying SIRI for .17) but from what I've seen as long as the volume is there, some technical indicators are there. This sounds like a fancy high dive but the February jump was a textbook parabolic rise, double top at .50 with 60%+/- fibonacci retracement, into a dead cat bounce and slow bleed out back to the fib number. Or at least thats how I saw it.
The double top was too obvious thats why I shorted. After looking over the charts, I came up with .18 being the major support because it was resistance before the parabolic jump. I bought another chunk at .18 before the SA hit piece is what dunked MJNA to .12.
I'll be holding until further notice
So Does Not Properly Following Procedure
Cops Forced to Return Marijuana for a Second Time
http://www.tokeofthetown.com/2013/04/police_ordered_to_return_marijuana_to_washington_man_for_a_second_time.php?utm_source=twitterfeed&utm_medium=twitter