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The company did mislead investors. I sold about 75% of my position between .18 and .185 on the way down to .12s. I still believe in the long term future of the company. But the 1100% increase in revenue during Q4.. which was almost entirely a stock transfer was wrong. Not the fact they got the stock transfer. I dont mind that. I dont even mind the canv deal if the company believes it will be beneficial in the long term. I mind them misleading investors into believing this income was from products being sold... not from a stock transfer.. and largely illiquid one at that.
michelle's letter to investors was nice. appreciated. but it still really never addressed the fact that they intentionally misled investors into believing things that werent true. Why did she allow that to happen? Why was the company not more upfront with this to investors? It's legit questions. As a shareholder, I really would like to see better from management. I dont like Michelle as CEO.
Uplisting to the nasdaq or nyse would be a good thing for the stock as it would be fully reporting to the SEC, more transparent, and alot of investors dont even consider pinks or OTC in general.
but saying uplisting is going to create some sort of huge run on the stock, im not fully convinced. GWPRF with its Nasdaq IPO should be interesting to watch to see how the investment community reacts to a weed stock.
im long MJNA. i believe our potential is higher than GWPRF. But, I am glad to see a weed company IPO to see what the realistic expectations are.
it was 30 lives on Contra. But yea.. 25+ years ago, and I remember a code to a video game. Bring home milk for wife..forget it every time.
up up down down left right left right b a start
Good or bad... thanks for keeping it real Det. I'm tired of the constant pumping/bashing on the board. No one actually talks about the full picture. People just want to post the part of the story that favors their position.
Im long $MJNA, im not going to be scared out of my shares. Maybe, Im wrong. It's only a small part of my portfolio.. i prefer 1-2 speculative plays with heavy ETFs/Mutual funds.
when they claimed income was up 1100% back in Jan. While true.. leaving out the 96% of that increase was from the photosphere deal.. was misleading.. intentionally i believe.
i believe they were intentional vague on this. they didnt lie.. they just left out a huge part of the story. i guess it goes with the territory of pinkies. i am upset with management. one letter written after months of SA attacks hasnt changed that. this letter should have been published early march.. not late April.
still.. im long MJNA. this stock is going places. i just believe management has really screwed the pooch this entire Q1.
i dont think uplisting has anything to do with it. I honestly believe Michelle when she said his talents could be used elsewhere. focusing on the political aspect of the business. i really believe it is as simple as that.
i am still upset with the company over what i believe was intentional misleading of their financials. but my choice is to sell and walk away or stay long. i cut my half my positions at 18 on the way down. Powder cleared today, I will be buying the rest back in on any pullback soon. i just hope Michelle is being sincere on the transparency statement.
Let's for arguments sake assume the PR release is right about the 30 million annual new contracts. Let's also for arguments sake assume that's the income for the next year.
Share price has to go up. The company has a market cap right now of 15.8 million. With 30 million a year in income, we are insanely undervalued...
If this group is not lying, and telling the truth, this is a buy and hold.. simple as that. Until I see PROOF they are lying, I will be a stock holder. i bought at .049. I dont care if this goes to .01.. well I care, but im not selling. If this group of good businessmen with reputable career backgrounds came together to bilk me out of my money because they had nothing better to do.. then I lose. Hey it's the pinks.. wild west folks.
Maybe I bought to late. Maybe I didnt. I dont know the future. I am betting the 30 million figure is legit. If it is, and is proven, the market cap soars. Has to.
As far as all this back and forth over if his house is in foreclosure.. so what. I dont care. How many houses does he own? Lot's of people get their house foreclosed on. cant free it up right now. Who knows.. who cares. Maybe he cant afford the payments. Maybe he is having financial difficulties and that's why he took this opportunity with this company.
What's up SKTO board.
Jumped on board today for 147,000 shares. Got screwed a little bit in MJNA.. still long there as well. Just upset at how they counted stock transfer as income. Felt it was a crappy thing for management to do.
Got in at .049 about 5 minutes before market close. SKTO seems to be putting together a good management board, thanks for the DD post that is on this board .. post number #37571.. it's sticky tabbed. I really want to be in on this new sector, but want management that is upfront and honest with what's going on. This team seems to be better than MJNA.
Any ideas on when the OTC caveat emptor gets removed? I think that will help this company a lot. I wanted to be in before that happens.
it's not a bad thing. it's just they led people on to believing the increase in revenue was from sales of products. they also did not let anyone know this until yesterday. they were leading people on that the 1100% increase in revenue was from sales of their products, not from stock recieved.
they also conviently didnt hand in the correct forms. this got caught, they got downgraded. while all this is going on VNDM and VFIN are hitting us with dark pool shares for a straight month.
I am still long on the company and the industry. But this was horrible of managment. They intentionally allowed the market to believe this company was more valuable than it was by hiding where the revenue was coming from.
Good work Detective. I stand corrected.
my GUESS... is they count as an asset. Cannavest owed MJNA a payment on 3/30/13, which is Q1. The two payments were for a total of 10.5 million. Seems like if they were counting it as income... then income would be higher.... and by a considerable amount.
TStarr-
Thanks for the posts. Not even considering selling my shares as I believe in the company.. but days like this suck. Oh well, guess I have to work a few more days before I am a millionaire and retire to the Cayman Islands.
$MJNA will come back... no doubt in my mind... just wish I had more powder.
a risk? sure. I believe this company could fly at any moment. i honestly hope it does. i believe in this industry and $MJNA is by far the best I have seen in it.
i have increased my share count on most flips, and am way ahead since i started flipping shares back in feb. it's not for everyone, but this strategy has helped me gain shares without adding money to my account.
What have you got for us? Let us know man.
From the April 11th earnings sneak peek.. the last bullet point said this...
The Company continued to explore several potential acquisition and investment opportunities in established cannabis and hemp related businesses. Expecting closings in May, 2013.
This hasnt got much play on the message board, but really intrigued me when I read it.
im in this for both. I believe in this company and am very excited about it's future. I never sell all my shares. but when I see an opportunity to sell some, I will. as soon as the sell goes through, I put a buy order in at a little lower pps and sometimes can get filled the same day, other times it takes a few a days.
I am a $MJNA share whore. I want all the shares I can possible have. Cant get enough.
so what is your strategy now? are you buying back in or staying out? I sold about 65K shares on Tuesday at .245. but I bought back in a little later that Tuesday and finished on Friday at .24. Picked up about 1500 shares.
I wanted to be back in for the 4/20 weekend just in case the company was going to release some good news over the weekend or on Monday premarket. since vndm has shown up ive been trying to flip this thing at least once a week. have picked up quite a few "free" shares.
also keep in the mind that the PR on april 11th said "We expect the twenty four months of audit history to be completed no sooner than the end of Q2 of 2013."
So it will be completed in June at earliest. Could be longer. At the end of the day, if you are truly long in this company as I am, the timeframe doesnt matter a ton. They are in the process of getting this done. Im not expecting 10 dollars a share by Christmas, anyone who is will probably be very disappointed. This will take time.
I live in Florida.. it will pass here.. ESPECIALLY medically mary jane. I live in north florida and will actually be debating the pro weed side of the argument at the columbia county GOP meeting in early to mid July. This will pass in Florida. Alot of the GOP members in Florida, like myself, are libertarians. Why anyone should think a doctor shouldnt have this in his arsenal is beyond me.
MJNA has had their revenue audited by a CPA of 20+ years experience and former PCAOB auditor with a clean license. He says it's legit.. But some guy on an internet forum said it isnt. That guy also said the Feds will be raiding soon, because he has inside knowledge of fed raids..
Who should I believe? This is tough.
the worst stuff sells the most? are you kidding me? thinking like that should cause physical pain. if the worst stuff sells the most.. i hope we have the worst products on the market.
110 million making records is talent. it just is. self made legal net worth proves talent. it just does.
talentless? you dont have to like his music or the rap genre in general. but talentless? come on man...
in 2012 his estimated net worth was 110 million. you dont get to 9 figures in any business without a lot of talent. will he help us move product? that remains to be seen. i hope he moves 110 million worth of dixie elixirs.
if you are not making things up please provide me the proof she is selling a "substantial percent" of her holdings. Also 1% of weekly volume a quarter is hardly a "substantial" percent of her holdings. An really good week selling would be 70 million. 1% of that is 700,000 shares. 700,000 shares a quarter. She will unload her 15.4 million shares.. Getting rid of 15.4 million shares at that pace will take till about quarter 4 2018.
You are making things up.
If you want a discussion about if this stock is overpriced.. we can have it. You want to talk about the sector as a whole, the other players, what holders impact could be, what big tobacco and alcohol could mean.. fine.
But stop making things up like she is getting rid of a "substantial percent" of her holdings. at best she will get rid 5% of her holdings a quarter. Hardly a substantial percent.
She merely filed to have the option to sell things. this doesnt prove she has sold anything. and at best could sell 1% of weekly volume a quarter.
You say Michelle is dumping 15 million shares.. but according to SEC rule 144 this must be followed...
Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.
Can you please explain one of two things for me 1)how Michelle is allowed to get around SEC rules.. or 2) why do you make things up?
yea, i was just wrong. i live in florida, so the law has no affect on me. but whenever you guys out there straighten up your act and get it to where i can buy a dixie elixir.. i will be taking a week vacation to ski country to try one out. been dying to have one and see exactly what the heck i have put my money in.
Cool. As long as it is legal to "find it" i am okay with it. My understanding of the law was off. Not the first time I have been off on something. As long as Snoop can have it .. then I hope he steps on stage with a dixie elixir in hand and tells everyone how great they are.
so it's legal.. but they cant buy it. Okay cool. I just dont want the company doing something that isnt legal yet. I guess my understanding was wrong. I thought the law went into effect later this year. But as long as it is legal for Snoop to drink a dixie elixir and tweet about it.. then cool. do it!
MJNA better be careful here. Weed isnt legal for recreational use in Colorado. Having snoop get free samples from our company when it is probably illegal for him to have it in Colorado might not be the best strategy right now.
I know none of this Snoop pushing our products is confirmed. But I dont think he has a medical marijuana prescription in the state of Colorado... I could be wrong.
my apologies LP58.. you were right, i was wrong. youre smart. im stupid. youre good looking, im not very attractive.
https://usequities.nyx.com/mkt-equities-regulation/listed-company-compliance/listing-standards
The NYSE requirement is 1 dollar not two. Google nyse minimum share price requirement.
either way we dont meet it yet.
so what if it is taxed at a high rate. some legalization is better than none. it can only be a positive.
i hope youre right reasonable. but whoever is sitting out there with that dark pool sell is really controlling price action. If they dont show up today we will run. if not were kind of at their mercy till they run out of shares.. which has got to happen at some point, they have been here 3 weeks now.
im not sure the president has that power. i think that has to be approved through congress.. and truthfully right now there isnt enough libertarian GOP members to get it through the house.
in 2016 let's all hope the GOP run Rand Paul for president. He is very pro-pot and wouldnt represent a threat. Although by 2016, this tidal wave may be to big for anyone to stop..
read the article. obama moved the dial 4% towards treatment from punishment. huffpost is a far left website. a 4% move of the dial is a good amount in one year...especially for washington.
Maybe they are ... they are probably aren't. but we got put out there as one of the two companies that somebody should be looking at in the industry.
personally I think the notion that Pfizer would dominate is kind of insane. it's weed. were not developing the next drug to fight hep c... any company can grow weed, you don't need a multibillion dollar market company to do that.
I just liked us being mentioned.
Good news... The world is ours
http://wallstcheatsheet.com/stocks/who-will-own-the-marijuana-industry-if-weed-is-legalized.html/?ref=YF
nah.. lets make predictions.
8 million is to low. 5 million will be from cannavest deal. So I will go 10-12 million 1st quarter combined. Which puts us on our way to meet projections. I still say by the end of the year we beat the projections, every quarter should be getting somewhat better.. especially with photosphere press release.
I intend on trying to flip for more shares when we run. I will just wait on the cue from reasonable. will be watching the RSI
i will be there... i need a little more that 10 a share to be a millionaire..buy at ten a share i will be close enough to a millionaire to party with them on their islands.