Medical Marijuana Inc (MJNA)

[GDorn]

Not a Positive Barometer


But I'll reserve judgment until we see what he's become CEO of.

If Kannaway wasn't being sold by the principles of a publicly traded company to the publicly traded company they are principles of, Kannaway would be a "last person out the door please shut off the lights" situation. But Llamas and Titus are gifting themselves the better part of 100 million dollars worth of MJNA stock for selling Kannaway to MJNA shareholders so they need to pretend Kannaway isn't nearly as worthless as it is.

I've watched a good number of MLM startups. I think it's pretty much impossible to launch a MLM company that derives a significant percentage of income from actual customers in it's first six months or so, almost all the early revenue will come from BizOp seekers. The next half of the first year is where things get interesting. Either the company has a product or service which drives consumer demand or they'll trot out a dog and pony show of vapid hype and comp plan changes. All of the latter isn't aimed at attracting customers but rather retaining the type of MLMers who are going to be flogging a MLM company for no other reason than that is what those people do and are willing to pay a monthly autoship for the privilege of doing so.

Kannaway never graduated from the "one affiliate selling the dream of an income opportunity to new affiliates" stage to the point where they sell actual products to actual customers. That right there is what potential MJNA investors need to know. The Q4:14 numbers when announced will be worse than the Q3:14 numbers which were worse than the, ya'll get the picture.

Seth Fraser has a track record of running other than actual MLM opportunities into the ground and moving on, Kannaway is just another failure he's milked till even he couldn't pay his rent pimping it. It almost doesn't matter what he's moving on to other than he thinks it's better than Kannaway which I have a hard time disagreeing with. We're not talking about a particularly high bar here.