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Ahh... So Massachusetts MMJ laws are good? MJNA makes money on the THC lines?
What kind of infused products? Certainly not THC infused, not anytime in the next few years anyways.
Lets not forget the company mislead their investors regarding their revenues.
Facebook's revenues couldn't justify their IPO PPS, and for a few years they have been having a hard time capitalizing on their user base: their advertising based on keyword demographics is horrendous.
I have friends in Australia and used to get tons of ads for Australian companies/products, but I live in Texas. I never see Texas based ads.
Facebook at least makes a revenue and doesn't have negative operating cash flow.
Good luck finding supplies: it's already been proven that its easier to get approval than it is to buy the severely restricted strains from the government.
Now that the cat is out of the bag, adding states with MMJ/Recreational does nothing for the company.
CBD is already legal in 100% of the states.
Ahh... How so?
CBD products are already legal world wide.
MJNA doesn't make money on THC infused products at all.
This has no impact until marijuana is rescheduled.
I think we'll have a slow decline over the next few weeks. With some fluctuations upwards, but I expect the general trend to have a negative slope.
That trade was made earlier in the day, just not reported until after close. Called a T-Trade, and will not impact the stock price...
The trade is made at the market price but isn't closed through the electronic market, so what was on the Bid or Ask at that time was not impacted at all.
But a concentration of THC is a felony: that's what is in most Dixie products.. Not raw weed directly, but the isolated compounds.
It doesn't benefit MJNA. Not anytime soon anyways.
How does this benefit MJNA?
"Eventually subside" : a rather positive statement, unexpected. :)
How many times has Willie Nelson been arrested. This is a hiccup for him.
Poor decision making, but a hiccup none the less.
For MJNA, who knows, it's not looking very positive right now anyways.
That comment is almost a positive comment.
IMHO: Alabama has no MMJ laws, he should not have attempted to smuggle in any products.
Huge error in judgement.
If he said he doesn't self medicate, then they have grounds for charging him with intent to distribute, again, huge error in judgement.
If he's found guilty and is not jailed, I'd still invest in him directly. That error in judgement will be a lesson learned.
My money is that he was just trying to grow the brand, under the table: promote the products to potential licensees. Again, stupid decision, he could have quietly invited people to CO.
2M buys another shell company.
And how do they plan on paying for this when they have negative operating cash flows.
Point being: they might not have mentioned the 6M payment because it was a Q2 event.
Apr 1 would be Q2?
I wrote the following on 2/17/2013...
I later justified the valuation... But I can blame that on MJNA's over-valuing the assets!
[QUOTE]
This is all BS, Cannavest is already traded under its's previous name and the ticker FCLS.
They have no volume, no earnings and is worth 4.50 - 5? Something is not right here. They have listed 190M shares authorized and only 7.9M Outstanding (according to their 8k). (HUGE dilution risk).
They are just changing their name and ticker.
This stinks to me, and I've been long since I first heard about MJNA is October.
[/QUOTE]
Be fair: we don't know who told you 4 years, but the rest of us were expecting 24 months of audit like the PRs said.
Be fair: most of us knew this was a licensing play.
That's why we wanted expansion... More licensees.
However, we weren't told the truth about those fees until 3 weeks ago.
Yeah, they hyped the sale of all Phytosphere assets as revenues.. But they didn't sell the company: it's a shell company, apparently there's a license fee CannaVest is paying us only.
I won't argue about the sale of assets being revenue.. If this was most of our projected 47M in revenue for FY13, where the heck was 155M in FY14 going to come from?!
That's where there is borderline fraud.
M. Sides authorizes herself 40M shares, then releases outrageous projections with a disclaimer saying its forward looking and that extenuating circumstances could invalidate those forecasts!
This was bound to implode... Good thing we investors demanded info prior to Sides opportunity to dump her shares.
We've known about the license fee structure for a VERY long time.
We thought that structure allowed us to collect THC based license fees, but only recently learned MJNA is not collecting them, Apr 30th as a matter of fact.
So while we understood the organizational structure, we were not made aware of the limitations of RDH ROI.
MJNA owns 60% of Red Dice Holdings.
RDH owns the intellectual property of the Dixie Brand.
The manufacturer of Dixie products in Colorado is Dixie Elixirs, which is owned by Left Bank, LLC (owned by Tripp Keber and his partner).
Dixie Elixirs is a licensee of the Dixie Brand and Intellectual Property (trademarks and recipes owned by Red Dice Holdings)
Red Dice gets that license fee.
MJNA gets 60% of that license fee after RDH expenses.. So 60% of RDH profits.
MJNA only gets license fees from the CBD product lines (Dixie Botanicals), not the THC product lines.
I'm not sure if RDH gets the THC license fees and just doesn't pay MJNA or if RDH collects zero license fees for the THC lines.
Whichever way, MJNA accepts no monies that are the result of selling THC products at this time because of interstate commerce laws; monies as a result of THC sales are federally illegal.
Now... 40% of RDH is owned by Dixie Holdings (or something like that, not entirely relevant) and that too is owned by Tripp Keber and his partner.
Tripp and his partner 's companies are not publicly traded, they can realize THC based revenues inside the state of CO but run the risk of Federal involvement. CO has a special certification that Dixie Elixirs has earned that is very strict, and if the Feds raid Dixie Elixirs, then the State of CO can sue the federal government, somehow or another. I'm not entire sure of CO laws...
Which leads me to think RDH is not accepting THC related fees too.
So basically, MJNA is only receiving license fee revenues from CBD product lines which are legal worldwide and available in CO and AZ dispensaries as well as online.
Your words, not mine :). But yes, I agree, low priority for them.
Again, he doesn't have to say anything.. Can just sit back and watch. If the CIA loses too much money smuggling drugs, they can put the hammer down at a later time.
And yes, if they put the hammer down much later, the state would have to be willing to sue the Fed... And all liberals, most libertarians and some conservatives will be furious.
But given the administrations recent actions (IRS, AP News, etc) I don't expect Obama to care what people think. Something smells in Washington, DC, and its not the dispensaries and grow houses.
Hahah. I snuck in an old school conspiracy theory. Hahah.
I don't think he has to say anything.
Status quo is dangerous.. Lets them do what they want and make no promises. It allows them a way out. They could sue CO to block this years from now: if the federal law isn't changed (reschedule), states rights will be shat on.
And next Q we'll see it collapse just like the price. Investors were mislead. Not fraudulently, but they were none the less.
of course, when you double the S/O in just over a year, you're bound to increase the # of investors.
If you look at the statistics and take iHub members as a well diversified sample, MJNA has lost a lot of previously very dedicated longs. I'm confident that sentiment is well represented across the population.
Because there are almost $1B shares outstanding and negative cash flows.
I understand if you can't reply: I'm only debating, not arguing.
My opinion is that the PPS will realign with new info.
My opinion is to wait for a 2¢ bounce before buying for the long term: don't catch a falling knife.
I did not say or suggest "sell".
With the company's new found transparency, I honestly believe they would not hide ill gotten gains. There are no 'off shore' accounts that will ever see the balance sheet. They might exist, but investors will never see the benefits.
They still couldn't transfer those funds or any products across state lines: that bill protects in state businesses.
Federal law will still stomp on interstate commerce violations.
I apologize for off-topic, but this benefits everybody who uses iHub!
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We all thought the company was safe because of the licensing agreement structure of the company.
We all thought selling a recipe and a brand name was 100% legal.
We find out much later that MJNA's interpretation disagrees and that we make zero until the laws change: that is a significant realignment!
Taking and hiding revenues is SERIOUSLY illegal... And if MJNA would admit to having exposure to THC is already illegal, they wouldn't take revenues under the table and risk breaking laws that will NEVER change.
THC might eventually be legal for interstate commerce, defrauding the government will never been legally justified.
We will continue to get zero until reschedule... Then we will begin accepting license fees.
The only hope is that in the licensing contracts, that Red Dice will be paid licensing fees in the rears upon reschedule. It creates a cash flow burden for the licensee, but would not be illegal for MJNA, and a windfall would be had.
So throughout the past year, well, 200 days anyways, the moving average was not based on the price, which was inflated by investor false confidence in Dixie and zero net income before illiquid shares are accounted for?
That .15 support is based on ancient beliefs, which Q1 let the light of day shine on the books and a better understanding has been made available.
That understanding will lower the expectations of investors and the PPS will rebalance.
I'm not saying its a scam, just that a transparency based realignment is underway.
You do realize that the expansion of Medical Marijuana laws in other states has zero impact on this company's revenue stream don't you?
Have you paid attention this past week?
We've recently learned it will take a rescheduling for MJNA to begin accepting license fees for THC infused products.
Without rescheduling, interstate commerce will still apply.
Allowing states to make their own decisions means nothing to a publicly traded company that has THC IP, because they cannot ship across state lines and cannot accept revenue from their products.
"Hiding" any revenues earned from THC sales is still federally illegal, so it's not like they're just holding cash in some off shore account, even when THC becomes illegal, those funds were earned illegally and would never see the balance sheet!
We currently only have revenue (or receivables) from CBD products which are already legal the world wide. MMJ laws have no impact on that business whatsoever.
Medical Marijuana, Inc is a misnomer: should be Medical Cannabinoids, Inc.
I believe we will break through the 200MA.
Moving Averages and support levels are based on historical data: the data does not get recalculated with the new Share Structure.
The support at low .15s is only temporary. The Moving Average is high because stock holders believes they had a tiger by the tail, when it was just a house cat, owned by a crazy cat lady.
That .15 is based off of reported "earnings", not illiquid stock ownership, and its based off of 808M shares outstanding. As well, RDH isn't performing as lead to believe.
It's my belief we'll break through .15 soon. It'll probably hold as today's low, and depending on how high it bounces from shorts covering, it'll break tomorrow or Wednesday.
Folks, don't catch a falling knife.
This company has potential, but the PPS needs to rebalance to the share structure and valuation based on real earnings.
This will drop day to day. To where? I don't know. I wouldn't say .02 or .03, but I wouldn't be surprised if we dipped below .10.
I think most of us can agree uplisting is no longer a primary concern because the company is in shambles: only revenue comes from illiquid stock from a company who isnt breaking even either...
MJNA needs cash to operate and we all know they'll just increase the AS and dilute.
Let this drop and wait for a +2¢ bounce to ensure the bottom before you buy long term.
Example: If we bounce off of .10 ill buy at .12.
I honestly don't see .15 holding.
I don't think this is a scam. Just run like one.
In reality, It's just a very poorly operated company, run by inept leadership who may or may not have had good ideas, just poor execution:
With the dilution, over payment of an executive, authorized by that same executive, adding failure to perform (two 'limited' tier changes in 6 months), and the negligent ignoring of shareholders concerns until very recently, [BOLD]you have the picture of poor executive leadership and ZERO governance![/BOLD]
The Board of Directors are two non-important guys and the majority shareholder M. Sides (she owns HDDC with Llamas, of course she authorized herself 40M shares, who could vote against her? She'd just kick them off the board).
This company has potential.. And that's it. This company has extremely suspicious accounting practices and organizational structure. Not actually fraudulent, just scam-like.
With the nearly 1B share structure, zero THC revenues, and a negative revenue from RDH, there is no way this company hits $1 anytime soon.
This company owns the trademark on the word "potential". But that's it.
I'd invest in Tripp if I could, but not M. Sides as the 'brains' behind any operation.
Being sarcastic? I'm asking about all plays: sympathy.
Other plays have nothing going for them... They wouldn't normally rise.
However that other big company released their Q1 and its still full of typos, holes, large negative cash flow, and even more dilution.
Sigh.
[bold]A RISING TIDE FLOATS ALL BOATS[/bold]
I'm in. I've been hearing about PHOT on the other big MJ board but it was the 10-Q that caught my attention via an MJ 'industry' news posting.
Things look strong, lots of consolidation recently.
I'm sorry I missed the gap up, but I'm doing my DD now and looking to place an order tomorrow.
It's going to be a late night.
If that other company posts their Q1 and its good, with this explosive quarterly report, the sector could have some nice sympathy plays and synergy going on for a nice run.
A rising tide floats all boats: with luck that other company will get some of PHOT's rising tide (via sympathy) and the action of two serious companies in this sector will multiply and create a resurgence!
GLTA