Medical Marijuana Inc (MJNA)

[Alan Brochstein]

Here's all you need to know about MJNA

Since three years ago, there are more than a billion additional shares, continued disappointments from the company and lots of other stocks for investors to choose over this one, which doesn't even file with the SEC (after promising more than three years ago to do so)

January 2013: http://medicalmarijuanainc.com/medical-marijuana-inc-retains-accounting-firm-anthony-w-imbimbo-associates-to-perform-financial-audit/

SAN DIEGO, Jan. 16, 2013 /PRNewswire/ — Medical Marijuana Inc. (OTC: MJNA) a leading hemp industry innovator, is pleased to announce that it has signed a Letter of Engagement with the San Diego based accounting firm of Anthony W. Imbimbo & Associates.

The firm has been retained by MJNA to perform the audit of its financial records. Initially, Imbimbo & Associates will audit the Q4 2012 results and prepare the audited financials for filing. Upon completion of the Q4 audit the firm will perform an audit of the company’s full year financials.

This is an important milestone for MJNA and is consistent with the plan we previously described to begin the audit process after year-end,” stated Michelle Sides, Chief Operating Officer of MJNA. Ms. Sides went on to say, “The audit enables us to continue realizing our objective of up-listing and becoming a fully reporting company.”

February 2013: http://www.otcmarkets.com/stock/MJNA/news/Medical-Marijuana--Inc--Releases-Audited-Fourth-Quarter-2012-Financial-Statements-and-Announces-Additional-Operating-Highlights?id=58496&b=y

As previously announced, the Company retained the accounting firm of Anthony W. Imbimbo & Associates to perform the audit of its financial accounting records. Imbimbo & Associates focused initially on auditing the fourth quarter results to meet the filing deadline of February 15, 2013. With that completed, the firm will turn its attention to auditing each prior quarter to obtain a full 24 months of audited financial statements

April 2013: http://www.otcmarkets.com/stock/MJNA/news/Medical-Marijuana--Inc--Reports-Record-First-Quarter-2013-Revenue-and-Income?id=61345&b=y

In addition, since the close of the first quarter, Medical Marijuana, Inc. continued to retain its auditing firm to perform the audit of its financial records for the quarter ending March 31, 2013 and all the way back for a twenty four month audit history. The Company completed all of the pre-audit work during Q4 and submitted its first audited financials for the quarter ending December 31, 2012. We expect the twenty four months of audit history to be completed no sooner than the end of Q2 of 2013.

May 2013: http://www.otcmarkets.com/stock/MJNA/news/Medical-Marijuana-Inc---Posts-1st-Quarter-Audited-Financial-and-Disclosure-Statements--Net-Income-Exceeds-Quarterly-Projections?id=63096&b=y

In addition, since the close of the first quarter and completion of that quarters audit, Medical Marijuana, Inc. continued to retain its auditing firm to perform the audit of its financial records for the previous twenty four months. As these audits become available the Company will provide shareholder notification and post accordingly on the OTC Markets website. Once twenty four month audit history is completed, the Company will retain a PCAOB auditing firm to recertify the audits, as required for Securities and Exchange Commission (SEC) guidelines for up listing.

They never talked about this again. Clearly, they are incapable of producing audited statements. Their OTC disclosures aren't GAAP compliant. Their financials don't include comparisons. I can't blame them, because doing so would make it clear how bad the financials are. This is a RED FLAG