Well first off, just because they are not reporting revenues does not mean that they are not receiving revenues. Look at their released financial statements. Do they look complete to you? Of course they don’t. They are a pinky. They don’t have to report anything. But they are following the Alternative Reporting Standards. Also, the company as it is situated right now, for all intents and purposes, is a new company. The current market they compete in and business plan is relatively new.
Digging deeper into revenues, you might notice their licensing agreements. They issue shares to the dispensary owners and receive 20% of those dispensaries. The first two, in Denver, are up, running, and have a large steady customer base. Customer reviews of them are not hard to find. Then there is the one in Colorado Springs. If you are concerned with what they are doing, just check their Facebook page. And then we have the San Diego location. Also running full steam. Now mind you, the average dispensary sales are in $20-$50 million dollar range. Now even if their revenues are a tenth of that, you are still talking about $2-$5 million a year, for one location. So that would translate to somewhere in the area of $400,000 to a $1,000,000 per location for AOM. Hmmm… $1,200,000 to $3,000,000 a year just from the licensing agreement.
Then we switch gears and show the diversifying they are doing. Sundance Hydroponics. Now mind you, this is not just for marijuana growing, but realistically the majority probably is. The company started as Greenhouse and indoor growing supply center in 1994. So 17 years they are still in business. Seems like a long way to go for a scam. Now after a 50% buy-out of that company is it possible that they have, what do you say, $3000 dollars in revenues? Considering they have been in business since April 1st 2011, and they have paid down considerable debt, that might be possible. And I haven’t even touched on the Cannapages, Cannamerchant, or DoctorMMJ websites. Then you have the signing up of Dr. Stoessinger. Dr. Stoessinger has worked for past US presidents and serves as a member of the Council on Foreign Relations. And there Colleen Manley, member of one of the state's oldest family law firms joining the board of directors.
And the 437 million share float, it is high, but not concerned at all. The market cap is roughly 8.9 million which puts it squarely in the Nano-cap category which is what 99.99% of pink sheet stocks are. And that was as of March 31, 2011. April 1st the new company started.
I have done my DD. I am an accountant and research companies like these for a living for my clients, and have been quite successful. But just because of these facts, does not mean it is sure hit. Anything can happen in the world of pinks. The bigger the risk, the greater the rewards. I just totally completely disagree with your opinion that this is a scam as the facts kind of speak for themselves on this one.
Have a nice day and hope it’s a good lesson for you.