Medical Marijuana Inc (MJNA)

[GDorn]

Not Claiming to be an Expert but.,..

Kannaway looks very much like a troubled MLM company. I logged into to one of their "Opportunity Hangouts" a few days back, I got there about a half an hour into the event and because the 60th person online. The Company President, Chief Song and Dance dude both co hosting and with all their social media footprint 60 folks showed up. Hell "showed up" would be applicable if you needed to get to a location, 60 folks had enough interest to log in.

Look at the view numbers on their YouTube channel (Kannaway English) not very inspiring. Freebies and tire kickers are included in those totals. They aren't really setting the world on fire (but they do need to convey that impression).

Worst still from a MLM company perspective, there is next to no focus on retail sales. Yea, the "back office" is open and you can now sell to customers but that isn't what they're pushing. Recent additions to the comp plan (Eight Weeks to Success) is almost exclusively focused on purchasing a $1k "Premier Product Pack" and recruiting as many people as possible to do the very same thing.

Internal consumption in MLM companies is a recipe for failure. Push out enough motivational videos, hold enough high priced pep rallies (Atlanta will be the second in just over one month) and you can bamboozle enough affiliates to buy enough product to make money for their upline but the professional MLM recruiters are the only ones making any money on a deal like that.

From an investor perspective it would be much better if Kannaway was training their affiliates how to sell MJNA products to actual customers but that is not what is going on here. Kannaway is turning into (yet another) MLM pass up scheme where the downlines pass their money upline till they get tired of bleeding out of pocket.