Medical Marijuana Inc (MJNA)

[canoil]

Questionable asset values? I looked at the financial statements. I don't think it is questionable, it's simply bad accounting. They present a consolidating balance sheet but they don't eliminate the investment in subsidiaries. That's probably why they don't have an audit opinion. They find a guy who is willing to put up a review report, but I can't find any meaningful information in the footnotes for their long term investments, and no principles of consolidation. They don't know how to do a consolidation. They basically need to debit APIC and credit long-term investments for about $115 million to present financial statements that are not misleading.

Too bad. I need to find some MJ companies who have a lower PPS and who are fully reporting.