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Unlike stated in the PR, cash actually decreased by 18k$.
From 5.499k$ to 5.480k$.
Q3 opinions
This board should the place to exchange opinions about MJNA but my opinions is that it has been lacking of that for a few years.
I posted something about what could be a governance issue and risks about MJNA perfomances but nobody reacted.
I have some doubts about the real interest of the "Transaction" (see p29 NOTE 12 of the report). In the Timothy R. Scott introduction, it is mentioned that Naturewell is a publicly traded company but I could not find anything about it. I hope it is not a trade to enrich friends. This statement does not give credibility to the transaction (see p30, NOTE 12)
"Although Naturewell’s distribution business activity is not significant, the Company intends to build upon Naturewell’s client base and
sales approach to expand its distribution network for additional product sales"
Q3 FINS Due Diligence feedback
It seems that MJNA is increasing the clarity of its financials.
https://backend.otcmarkets.com/otcapi/company/financial-report/235294/content
However, some facts should be more detailed because with some DD, I have some doubts about the real interest of the "Transaction" (see p29 NOTE 12). In the Timothy R. Scott introduction, it is mentioned that Naturewell is a publicly traded company but I could not find anything about it. I hope it is not a trade to enrich friends. This statement does not give credibility to the transaction (see p30, NOTE 12)
Quote:
"Although Naturewell’s distribution business activity is not significant, the Company intends to build upon Naturewell’s client base and
sales approach to expand its distribution network for additional product sales"
Also, looking at the list of changes in outstanding shares, Tim Scott would have 1M shares and not 750k as mentioned in the point 7. OFFICERS, DIRECTORS, AND CONTROL PERSONS.
Googling his name, I found this file from Delaware Court dated June 2019. (https://courts.delaware.gov/Opinions/Download.aspx?id=291090) Reading it, it seems that Tim Director, Titus CEO and Huemoeller (CEO AXIM) were playing some "games" against the Llamas family and James Arabia (who owns around 40M shares! according the Exhibit A) in order to control a company (Stone Ash) after ML's death.
This file also talks about MJNA and how James Arabia could control MJNA stock price and Kettner Investments LLC, formed by who??? Huemoeller, AXIM's CEO!!!
It is also interesting to see that Mrs Samantha Schroeder has a lot of shares...is she Blake Schroeder'wife, the COO? It the "Reason" column, it is written "Compensation". Again, IMO people network and conflict of interest.
I am getting more and more worried. I invested in MJNA in 2012 and keep it as a long term investment. I still believe in a rise because it seems that it is doing great on an operational level. However, the governance side is scaring. It seems that all the actors are interconnected. Some don't have a background to be directors of C-levels.
I hope in a NASDAQ uplisting in order to force them to be more transparent and avoid OTC Pink manipulation of the stock price.
Please give me your feedback in order to start a constructive conversation about MJNA governance.
Thanks in advance. GLTA.
Rob
Ps: this post reflects my opinion only. Do not take any position on the stock according it. Due your own due diligence.
I did after opening! 2020 will be THE Year!
Great letter to shareholders!
I am impressed that almost nobody commented the letter of the CEO to the shareholders.
https://investors.medicalmarijuanainc.com/medical-marijuana-shareholder-letter/
What I want to retain from this letter is that financials are getting audited and Mr. Titus is thinking to uplist to Nasdaq in 2020! Dollar land for sure if the projections of revenues and margins are kept.
This a long term investment!
GLTA Long MJNA!
Thanks for replying scoobey-do.
What I meant was that compared to the last financials and PR, the last ones are not mentioning that they are unaudited.
Regarding you question, I hope it is because they are keeping they structure costs low and I hope that the governance and transparency will improve with the results. On an operational level, they are great, so I cannot believe it is a scam.
No mention of unaudited figures!?
I was surprised to read the PR and not see "unaudited" written.
Also, there is nothing mentioned "unaudited" in the Q1 release.
I find it quite surprising. I hope that something is done in that sense.
I have been a shareholder since 2012, I did not loose faith. Looking at the financials, they are becoming more complete. More information was added such as the Exhibit on outstanding shares.
However, for the Q release, the have stopped to split the dashboards by business unit.
GO LONG! GLTA!
Marijuana Banking measure defeated
https://www.forbes.com/sites/tomangell/2018/06/13/marijuana-banking-measure-rejected-by-congressional-committee/#3b26a7f64208
If the committee had voted in favor, it would have been a strong signal and all the business would have taken advantage of it.
No more uncontrolled dilution...
However, more and more institution are opening bank accounts to MJ businesses:
https://www.forbes.com/sites/tomangell/2018/06/14/more-banks-working-with-marijuana-businesses-despite-federal-moves/#2b749ff21b1b
Sen. McConnell would like to bring it to the Senate before the 4th July.
insert-text-here
Thanks for the details Scoobey-do.
I am not from US and I don't know the legislative process very well.
So, the next steps now are: House voting, Senate voting and Congress converting bill into law? Do you know how long should the process take?
The previous Farm Bill is going to end at the end of September, I guess the Farm Bill 2018 has to be converted before that date, right?
Hemp Farming Sponsors: +1
The Hemp Farming bill has 28 sponsors now. GO Go GO MJNA!
https://www.congress.gov/bill/115th-congress/senate-bill/2667/cosponsors
In my opinion, if the bill is voted, they could enter in the hemp cultivation market with an acquisition and make a more integrated company.
We have a good gross margin and could do better!
United Nation World Health Organization documents
Here is the page with the schedule and where the doc will be published.
http://www.who.int/medicines/access/controlled-substances/ecdd_40_meeting/en/
Let's cross our fingers!
WHO meeting starting today!
The 40th meeting of the World Health Organization will take place until 7th of June In Geneva.
Let's hope they will recognize marijuana a medical value and will advise to reschedule it.
Could be a big catalyst! US cannot stay there watching the whole world entering in that business and still be a threat for MJ business.
Hold and see...
Thanks DewmBoom!
However, companies usually release this kind of PR the day they publish the results. I understand that it was too late as MJNA published the results quite late on the 21st but they could have done it yesterday.
I invested in MJNA in 2010, I am LONG of course, but even though they improve the news feed there is a lot to improve on the communication side.
Also on the financial communication side (btw assets were not equal to liabilities+equity in Q4). MPS disappeared from the statement, I guess due to their irrelevant results but there is no news about that activity and nothing about thei vision/strategy in the Q4 release.
Source please...
Thanks Mazel, I keep myself informed and saw it from OTC website but no PR about that, neither on their website. IMHO they should hire someone to take more care about their communication.
Where are the earnings?
I am wondering where is the share of earnings of MJNA when Dixie was completely part of MJNA and selling products containing THC.
By the way, no PR about the Q1 release. Quite bad communication for such a result.
Also, anyone remembering about the PR where Titus talked about auditing and up-listing. It was in 2018 but I did not find it...
Great catalyst ahead...World Health Organization 4th-7th June will debate about cannabis and related substances. Let's hope that they will finally agree to recognize the medical benefits that cannabis can bring in order to advise its rescheduling.
The previous review about CBD was quite encouraging and it's also thanks to HempMeds Mexico!
http://www.who.int/medicines/access/controlled-substances/ecdd_40_meeting/en/
https://kushtourism.com/the-un-who-meets-to-re-schedule-cannabis-and-cbd-this-june-fda-required-to-hear-your-thoughts-weigh-in-today/
GLTA Longs!
MJNA on Motley Fool again 04/11/18
Unfortunately depicted as a looser.
Let's have an interesting debate and discuss about the article.
https://www.fool.com/investing/2018/04/11/3-marijuana-stocks-you-couldnt-pay-me-to-buy.aspx
Llamas out of the picture? He writes that he is part of it and people congratulates him in several posts... I have serious doubts about Kannaway valuation now.
I hope to be wrong, I just hope that all the operations that MJNA is undertaking are for the Company and not for enriching only a few ones.
Llamas still involved
Hi there,
I have been a shareholder for almost 3 years now and still hope for a brighter futur.
However, I have never been really satisfied with the transparency and the communication with the shareholders.
Last week, I was surfing on FB and I found some worrying stuff about Llamas involvement with MJNA.
The Company always told us that he is not involved anymore but I don't think so.
And I am still more worried when I remind the Kannaway valuation...
[url]https://www.facebook.com/michael.llamas.54/posts/789035017841456
[/url][tag]insert-text-here[/tag]
[url]https://www.facebook.com/michael.llamas.54/posts/789060021172289
[/url][tag]insert-text-here[/tag]
"Glad to be part of it"???
insert-text-here
People congratulating M. Llamas for the RSHO story.
[url]https://www.facebook.com/michael.llamas.54/posts/839297942815163?pnref=story
[/url][tag]insert-text-here[/tag]
Hope that this is all well justified and MJNA is not taking people money to enrich their friends.
This note has been there for a while dude...
Don't be scared uselessly...
Wrong Data on GOOGLE
Hi all,
as most of you I am quite scared and wondering where we are going to. Three days ago I bought more stocks...Should have waited.
I have noticed something wrong on
https://www.google.com/finance?q=PINK%3AMJNA&fstype=ii&ei=rEcmUai_LMaDwAPaqwE
Same problem when you click on Annual Data.
Take a look at the Revenue for the 12months ending on December, 31th. It's written 5.9. That's not true. 5.9 was the revenue for the Q4. The revenue for 2012 was $7,107,292. It's misleading like that.
The annual table can be seen here:
http://www.medicalmarijuanainc.com/index.php/49-press-releases/2013-press-releases/224-medical-marijuana-inc-releases-2012-annual-share-holders-report-and-first-ever-corporate-revenue-forecasts
Moreover, in the annual income, the income statement is only for the 3 last months (October through December 2012). They should have put the annual one...
Please GO MJNA!!!