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I don't understand. What SEC rules are being violated?
What do you think about this, posted here 6/12:
>>>
Ken Williams CEO of a pump and dump scam back in 13' i was going to try to play the game but now prob not.
http://www.newswire.ca/en/story/1103297/asc-reciprocates-cease-trade-order-against-digagogo-ventures-corp
http://www.bloomberg.com/research/stocks/people/person.asp?personId=134390763&ticker=MDCN
<<<
I had been on the board for months and hadn't seen it posted before. Maybe I missed it. Did you know this? Is there an explanation?
"In 2011, he served as the Chief Technology Officer of Digagogo Ventures Corp. and later served as the Chief Executive Officer."
With that said, the June 18th 8-K says:
"Mr. Johnson resigned from the Board of Directors to spend more time pursuing personal and political interests. The Company and Mr. Johnson had no disagreements, and the Company and Mr. Johnson each wished each other well in future endeavors and pursuits."
That's why I shelled out $600 to buy 1.5 million shares at .0004. Maybe I'm just dumb but I still want to believe that Gary Johnson is a man of integrity.
I called the number on their website and asked to speak with Investor Relations to see if I could find anything out about what is going on with the company. I was told that Steve Gormley is the person to speak with and that he was out of the office in California. I was given his email address, steve@oslholdings.com.
Has anyone tried writing him already?
Gary Johnson resigned on June 5th. Does anyone know if he could have made a public announcement about it at that time or if he would have been required to remain silent until the company announced it today? If he kept silent when he didn't have to, I wouldn't be happy about that. If he did have to keep quiet, I hope he will now make a statement about his involvement with this company, which many people, who have lost a lot of money, had faith in due to his involvement.
I've been scared since last Friday, when someone posted:
>>>
Ken Williams CEO of a pump and dump scam back in 13' i was going to try to play the game but now prob not.
http://www.newswire.ca/en/story/1103297/asc-reciprocates-cease-trade-order-against-digagogo-ventures-corp
http://www.bloomberg.com/research/stocks/people/person.asp?personId=134390763&ticker=MDCN
<<<
Now I am out completely as I suspect foul play is involved. I hope there will be an SEC investigation.
If I'm not mistaken, that approx. $50 million was distributed in stock that could have been worth as much as $4.00 per share, and those shares could not have been sold by insiders as the sales would have had to be reported. So if it was $4.00/share at issuance, what the insiders are holding is no longer worth $50 million but only $2,750.
I would think so if it were not for Gary Johnson's involvement as one of three Directors of the company. I have a lot of respect for the man and can't see him being involved with rip-off artists.
Does it seem a bit funny they released the JV news on a Wednesday before a holiday weekend? Perhaps they have a follow-up announcement they're planning to release on Tuesday.
Go OSLH!
Was the $42.5M attributed to Consulting, Management and Investor Relations for the 9 months ending 9/30/14 paid with stock which at the time had a high value (i.e. $4/share), but today would only be worth approximately $14,875 [$42.5M / (4.00 / 0.0014)]?
There's obvious manipulation going on here.
The only person I trust is Cheryl Shuman.
Is that your real picture?
I thought the message they communicated in the interview yesterday was extremely positive. The only thing they didn't say is that consummation of the joint venture is imminent, and I think that's why short-term traders are pulling their money out to invest elsewhere for the time being, thinking they'll have time to get back in before it's announced.
I'm not so sure that's a good bet. I think they want the announcement to come as a surprise, and it could hit anytime.
Cheryl Shuman is an honest, intelligent and warm-hearted woman, a real heroine, in my opinion, for her bravery in being such a high-profile opponent of governmental oppression. Anyone with a brain who listens to the CannaInsider radio interview will hear that and anyone who says otherwise, IMO, probably has a dishonest agenda. I would love to see her elected to public office at some point.
http://www.cannainsider.com/cheryl-shuman
"Can't we all just get a bong and get along?"
-- Cheryl Shuman
http://www.cannainsider.com/cheryl-shuman
(interview from yesterday, I believe, just after 16 minutes in)
Cheryl is SWEET. Holding my OSLH.
A few weeks ago I asked John Loren on the phone if he was John Lorencz and he said no.
Gary 2016!
Not sure if anyone can see this or if you need a membership:
https://www.bamsec.com/filing/144586615000448?cik=847015
"As of April 15, 2015, the Registrant had 447,063,367 shares of common stock outstanding."
Link, please...
Gary Johnson's other company, CBDS, is up about 35% today as of now, on heavy volume.
Gary Johnson Preparing To Run For President In 2016
http://dailycaller.com/2015/04/08/gary-johnson-preparing-to-run-for-president-in-2016/
Johnson, for anyone who doesn't know, is one of the three Directors of Medican:
http://www.medicaninc.com/board-of-directors/
I think the company is purposely delaying an announcement so that the longer-term investors profit and not the short-term flippers who are scared stiff now and bailing out. JMO
Yes, on Thursday you wrote:
Response from company this morning from John Loren in investor relations. They responded in a very fast time frame. Received this response about an hour ago.
Dear Andrew:
Thank you for your email and comments.
The company did not make a promise, but anticipated closing the transactions by March 31, 2015. In any transaction there are often delays that hold up completing.
Once the company has news to release whether it be completing the acquisitions, extending the time or not following through they will announce it. It would appear to me that they are still progressing being that they have not made any news release up to this point in time and keeping in mind the scheduled closing date was only yesterday.
It has nothing to do with raising a red flag, it is a fact of business and completing multi-million dollar transactions that involve, financing, due diligence, appraisals, etc., that can take longer than anticipated.
MDCN is not a company to put out news releases with the sole intent of only boosting the price of the stock but have long term goals of building a solid company and adding positive value for the shareholders.
Thank you for your support.
Kind regards,
John
Thanks for posting!
Post 12803
lumi007 Thursday, 04/02/15 12:55:31 PM
posting it again for the benefit of others and hope people don't fall prey to these silly scare tactics
Both parties were in escrow for the 67k sqft facility
Escorw started 12/02/2014
here is the link for the actual escrow agreement
http://www.sec.gov/Archives/edgar/data/847015/000144586614001566/exhibit10_1.htm
They had 60 days to secure Zoning approval and had 120days to complete the DD, appraisal inspection, work out finance and secure all government approval
Technically speaking the 120 days escrow closure period puts them for a latest closing date of 04/01/2015...
I presume either they closed yesterday or are very near to closing...Now one might ask what happens if escrow does not close in time...if the delay is going to be just few days no worries let the escrow expire but you can still close everything as quickly as you can.which would put latest closing date of Tuesday 04/07/2015 in this scenario..
if the delay was going to be longer than a week we should have seen a filing for extension from them already..both the parties are interested here and its just a matter of time
they have put down 30k towards this escrow...they have secured zoning approval as stated in the escrow agreement..so i think they are very close to getting this done...if it was otherwise we would have heard by now...
GLTA
Food for thought:
So…what happens if you run over your escrow closing date?
The first situation is very easy. If both buyer and seller still want to complete the transaction, then everyone continues upon their merry way, and you close the escrow as quickly as you can. If the delay is only going to be a few days, there should be nothing to sign, no additional paperwork, and it just closes late. If the delay is going to be longer than about a week, then it is best to have the escrow company prepare an amendment extending the escrow to some point in the future agreeable to all parties. Remember, in this situation, all parties still want to proceed, so the solution is fairly simple. Close in few days, or extend with an amendment to cover the additional time needed.
But what if, when the closing date rolls around, one of the parties wants to cancel the escrow…and wants to use the failure to close on the appointed date as the reason for the cancellation? Now what?
Well, that complicates things a little, but the answer is still simple.
First, understand that the escrow period you set when the contract was agreed upon between the buyer and seller is not set in stone. It is merely a date upon which all parties are striving to complete the transaction. While there are exceptions to this (and those exceptions would have to be noted up front in the contract), the mere fact that the escrow has failed to close on its appointed date is not grounds for “divorce”.
Gary Johnson is a man of extremely high integrity. He was the Libertarian Party candidate for President in 2012 and received 1.3 million votes (1%). He is planning to run again in 2016 and I for one will do all I can to help. If he can start out strong, being the only major candidate to favor the controlled legalization of marijuana - which a majority of Americans support - I think he could possibly win.
2012 Third Party Presidential Debate - Gary Johnson and Jill Stein
Which brokerage are you using?
Yes, he was the Libertarian candidate for President in 2012 and received about 1.3 million votes (1%). He intends to run again in 2016 and should use all his influence to make sure both CBDS and Medican are doing well. I think it is possible, if not likely, that CBDS will acquire Medican at some point.
http://en.wikipedia.org/wiki/Gary_Johnson
Former Governor Gary Johnson Puts Cannabis-Unfriendly Lawmakers on Endangered Species List
MESQUITE, NV / ACCESSWIRE / March 19, 2015 / Former Governor Gary Johnson, President and CEO of Cannabis Sativa, Inc. (Stock Symbol OTCQB:CBDS), compared the legal marijuana industry to a dam about to burst and warned lawmakers opposing legalization to start packing their bags.
"The smart money has been waiting for the first big brand to emerge." The former Republican governor and 2012 Libertarian Presidential candidate spoke to an estimated 750 marijuana industry representatives attending a two-day conference at the Oregon Medical Marijuana Business Conference. "Green Rush investors have been blue in the face waiting for a front-runner, but the starter's pistol is now raised and ready to sound the biggest bang since the end of Prohibition."
The two-term former governor had words of caution for state and national lawmakers who oppose or attempt to complicate legalization.
"More Americans favor legalization today than those who don't. Representatives who stand in the way of the people will be swept out of office."
Johnson's Cannabis Sativa, Inc. was rated fourth among the top eight legal cannabis companies by Forbes Magazine. The firm's wholly owned subsidiary, "hi," was hailed in the article as a brand to beat.
"Investors are about to get what they've been waiting for," Johnson hinted. "Big product variety, big distribution and the first mega brands in the legal marijuana industry. The road to legalization has been a rocky one, but no one doubts it's a superhighway paved in gold."
Johnson admits his firm has suffered delays due to shifting state regulations, but sees the climate warming nationally.
"We've proceeded cautiously and nurtured our alliances carefully," Johnson said. "We've taken advantage of the extra time to lay a solid foundation for a business model that will be scalable state to state."
Of Washington State marijuana regulators, Johnson said, "They have screwed it up as badly as they possibly can. They have taxed it to the level where if you are a marijuana consumer, you're more than likely still buying it on the black market rather than at a legal retail location. It's a worst-case scenario playing out in Washington State that other states should avoid at all costs."
Cannabis Sativa, Inc. Chairman, Steven Kubby, says the firm's timetable has been set back by pot policy-makers.
"While it's been frustrating to have been delayed by compliance issues between various states and jurisdictions," Kubby explained, "It's only made us stronger. Expect exciting announcements in the days ahead."
Great day today. Thanks to everyone posting good info here, especially cj.
I'm looking at your MDCN posts from early January. You called it completely wrong and wrote:
"Should have realized the error of my ways from the chart staring me right in the face. Oh well, you win some, you lose some."
Try looking at the bigger picture:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112188149
(My longer response to you last night.)
Can't you understand that going from .001 to over .01 is more than 1000%? And the stock had hit as low as .0007 on one day, if not Monday than 1 or 2 days before.
At least we agree the stock may be a very good deal at Friday's closing pps.
The video was uploaded to YouTube on March 3, 2014:
Medican Enterprises Inc. - Medical Marijuana Corporate Profile
I appreciate your wanting to inject some realism here but I do think you're being overly negative. For one thing, how do you quantify an asset like having Gary Johnson on the Board of Directors? That's Gary Johnson, the Libertarian Party candidate for POTUS in 2012 who received 1% of the total vote (and would have received a lot more if people thought he had a chance of winning - which is a huge problem with the way we hold elections).
That's Gary Johnson, who is now CEO of CBDS which has a stellar management team, who speaks at many medical and recreational MJ conferences, gives media interviews every day, is extremely well spoken and is planning to run for President again in 2016. And who, two months ago, bought almost a million shares of MDCN at $0.013 a share.
Yes, MDCN made some very bad mistakes which cost a lot of investors a lot of money, and I personally would like to see them provide an explanation for how they burned through so much money which they attributed to "consulting," "management" and "investor relations" in their financials.
Nevertheless, I think Johnson is a man of extremely high integrity (no pun intended) and if he thought that there was any fraud whatsoever going on, he would resign from the Board and not be purchasing a million shares.
The company has a great website and team of professionals, and from John Loren's interview they are working on many more deals than the two which we hope will close this month. Medical marijuana is a bona fide remedy for many ailments (including some types of cancer, according to increasing research and anecdotal information) and is being recognized as such more and more every day. I think just today it was legalized in the State of Georgia. The Schedule I classification of MJ could get struck down any day.
Who is to say what the potential of this company is and how much the stock should be trading at? If you're going to be the one setting the price, you're going to have to provide a lot more information than just being sour about the mistakes which were admittedly made and the tendency of some people here to over-hype.
Good post. Thank you.
I think the company may be acquired by CBDS at some point. Gary Johnson is CEO of CBDS and a Director of Medican.
CBDS has stellar management, not only Johnson but Steve Kubby (Kubby.com) is Chairman of the Board and Former U.S. Senator Mike Gravel is a Director and heads their KUSH subsidiary:
http://www.businesswire.com/news/home/20141230005093/en/U.S.-Senator-Mike-Gravel-Head-Marijuana-Company
One question I have is how much dilution, if any, is going to be necessary to fund the operations of the company.
Do you have any knowledge on that?
Yes, that's former 2-term New Mexico Governor Gary Johnson, who received 1% of the vote for President in 2012 as the Libertarian Party candidate (1.3 million votes, if I'm not mistaken). He is now the CEO of Cannabis Sativa, Inc. (CBDS) and will probably run for President again in 2016. He would be the best thing which could happen to this country and I think he will run and actually has a chance of winning, with Hillary Clinton and Jeb Bush refusing to support legal marijuana which is supported by a majority of the country.
His buying almost a million shares of MDCN two months ago says that despite the terrible mistakes which were made (and caused the stock to plummet), he still has faith in the management of this company.
Gary 2016!
I think you're probably right.
The problem with this stock, however, is that Gary Johnson is going to have to resign
after he becomes President...
Gary 2016!
I spoke with John Loren today and he said the number of outstanding shares now is a little over 100 mil. He said the shares being sold now are, for the most part, convertible notes coming due.
If you believed what you wrote, mmmmm, then why didn't you start selling before you posted?
Or were those 5,000 shares which sold yesterday right after your post yours?
The last trade was 1,200 shares at $0.0134. Someone paid a commission to buy $16 worth of stock, obviously trying to scare people into selling so he can pick up shares cheap.
I'd say "he or she" but of course a woman wouldn't do a thing like that :)
Class action news? Please provide a link.